September 22, 2026

TOP NEWS

War update: Yemeni government forces said they struck Houthi fighters and supply lines near the Bab al-Mandeb Strait and in al-Bayda governorate and shot down a Houthi drone in southwestern Taiz province. Israeli warplanes have carried out a series of air strikes across southern Lebanon. Oil prices are at their lowest in 11 days as this week’s UN General Assembly in New York City brings hope of diplomatic progress in the US-Israel war on Iran. Pakistan’s Interior Minister Mohsin Naqvi arrived in Iran for talks on “expanding ties and coordinating ongoing matters” between the two countries.

Lumino Industries: Revenue was up by 19% yoy to Rs 521 crore. Operating profit was up by 35% yoy to Rs 71 crore. Margins improved by 155 bps to 13.6% vs 12% in Q1 FY26. PAT was higher by 32% yoy to Rs 40 crore. Management is targeting a 𝗵𝗶𝗴𝗵𝗲𝗿 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗺𝗶𝘅 over time. However, EPC grew much faster this quarter, reflecting execution of the 𝘀𝗶𝘇𝗲𝗮𝗯𝗹𝗲 𝗘𝗣𝗖 𝗼𝗿𝗱𝗲𝗿 𝗯𝗼𝗼𝗸. Order book stands at Rs 3,090 crore as of June 2026. The company is in expansion mode and adding 35000 MT of capacity in 3 phases 10,000 MT in H2FY27, 11,000 MT in Q3FY28, 14,000 MT in Q1FY29. Total capacity to go up from 40,000 MT to 75,000 MT. This expansion will increase existing capacity and add the capability to produce HT power cables upto 66 KV.

Pine labs: Mastercard Asia/Pacific is likely to sell its entire 4.97 crore shares, representing a 4.3% stake in Pine Labs, via a block deal, with the floor price set at Rs 179.5 per share (6.7% lower than previous close)

Pace Digitek: The company's subsidiary, Lineage Power (LPPL), has secured an order valued at Rs 488.46 crore from NTPC GE Power Services (NGSL) for the BESS project at Barh STPP (NTPC Stages I & II).

PI Industries has been granted registration for India’s first discovered insecticide , namely, ‘Pioxaniliprole ’ under section 9(3) of the Insecticide s Act, 1968, for TIM and FIM category.  Pioxaniliprole, India’s first indigenously discovered and developed insecticide molecule by PI .

Parag Milk: plans to invest Rs 100 crore to expand its paneer capacity 4×—from 20 MT/day to 80 MT/day by June 2027. Paneer has grown around 28% over the past two years, while organised players still account for only 5–6% of the market. The crackdown on analogue paneer could further accelerate the shift towards branded players.

GRSE: Board has approved a Rs 2,896 crore capital outlay for a new greenfield shipyard at Raichak. This expansion aims to boost shipbuilding capacity for both naval & commercial segments, building on a prior disclosure about capacity expansion including Raichak.

ONGC: India’s Samudra Manthan campaign has delivered an early breakthrough, with ONGC discovering natural gas in its first deepwater well drilled under the mission in the Mahanadi Offshore Basin. The discovery does not guarantee commercial reserves as of now. Positive for HOEC, Jindal Drilling, Dolphin Offshore, etc.

L&T, KEC: The Trump administration has proposed investing $5bn in a new fund to help Middle East countries rebuild energy infrastructure battered in the Iran war and reduce their reliance on the Strait of Hormuz to transport oil and gas. Positive read-through for GCC-linked companies such as L&T, KEC, Dee Development, etc.

Waaree Energies: Received an order on September 21, 2026, for supply of 2 GW solar modules from a renowned customer who is a leading solar developer over the next two years.

OTHER NEWS

Hindustan Copper: Plans capital investment of over Rs 7,000 crore over the next 5-6 years; actively pursuing acquisition of new copper deposits in India and overseas; focused on reopening closed mines in India to enhance domestic copper production capacity; Malanjkhand Copper Project mine capacity to expand to 5.0 MTPA by FY30; Khetri Copper Complex capacity targeted to double to 3.0 MTPA by FY30; Indian Copper Complex capacity expansion planned to 4.2 MTPA by FY30; Taloja Copper Project targeting 60,000 TPA cathode production; Gujarat Copper Project production expected to commence by Q4 FY27.

Lloyds Metals: To raise Rs 1,550 Cr via issuance of NCDs; to invest Rs 140 Cr for capacity addition; approved capacity upgrade for DRI plant at Ghugus to 8,15,000 MTPA and Konsari to 92,400 MTPA; total DRI plant capacity to exceed 9,00,000 MTPA.

Coal India: As of September 20, 2026, about 38% (65/175) of India's domestic coal-fired power facilities had critically low coal supplies. Cumulative coal stocks at DCB facilities fell to around 19.9 million tons (mt) versus a daily burn demand of 2.94 mt, a dramatic decrease from 35.13 mt at the end of July.

Domestic steel prices reached a four-year high of ₹63,800 per ton, up ₹1,600 for the week ending September 18, 2026. Benchmark Mumbai Hot Rolled Coil (HRC) prices increased by ₹1,200 to ₹63,900 per ton, while Cold Rolled Coil (CRC) prices increased by ₹1,300 to ₹73,500 per ton. Primary producers increased HRC rates by ₹750-1,750 per ton and CRC rates by ₹1,500-2,000 per ton.