August 28, 2026

TOP NEWS

War update: Tehran is drafting a list of conditions to open the Strait of Hormuz in response to mediator requests, adding that the US must first take practical steps to fulfill these demands before the waterway reopens. US government also mentioned that there are no talks scheduled and they donot care of agreement between Iran and Oman. Oil prices stable at $ 88/ barrel. Asian market opened up positive and Gift nifty indicates a positive start with 50 points on bourses.

 

Aether Energy: Hero MotoCorp to spend Rs 1,758 Cr to raise its stake in Ather Energy to 32.8% from 29.88%. Ather Community Day starts tomorrow for 2 days, with the first launch from its new EL platform, codenamed “Konarc” Hero keeps increasing its bet on Ather just as Ather enters its next phase of product expansion.

 

GK Energy: Received a Letter of Empanelment from a State Government-owned power distribution utility for the execution of 1 lakh grid-connected rooftop solar projects, aggregating to 100 MW. value is approximately Rs 454.5 crore, including GST. The scope covers the complete rooftop solar lifecycle: - Design and engineering - Supply of solar systems - Installation and commissioning - Testing - 5 years of operations & maintenance

 

Dixon/ Amber : A whitepaper jointly prepared by Grant Thornton Bharat and Policy Watch India Foundation has called for a re-examination of the Goods and Services Tax (GST) framework for affordable smartphones, arguing that the current uniform 18 per cent GST no longer reflects the evolving role of smartphones in India's digital economy. , GST on smartphones priced below Rs 25,000 should be cut to 5 per cent, while 18 per cent rate could be retained on higher-priced devices, according to GT Bharat-PWIF paper. Positive for Amber and Dixon.

 

Tejas network: Tejas Networks receives a Letter of Intent (LoI) from TCS. Order valued at Rs 1,537 crore for the supply of BSNL 4G RAN equipment . The order further strengthens Tejas Networks’ role in India’s 4G telecom infrastructure rollout. A significant order win that could support revenue visibility and reinforce the company’s position in the domestic telecom equipment space.

 

GE Shipping: Approved an open-market buyback of up to Rs 900 crore, at a maximum price of Rs 1,530 per share. At the maximum price, the buyback could cover up to 58.82 lakh shares, or around 4.12% of the current equity capital. Importantly, the company has committed to deploying at least ₹675 crore towards the buyback. The promoters will not participate, meaning the buyback could marginally increase their percentage ownership as the public share count reduces.

 

Wipro: The firm has expanded its partnership with Google Cloud to roll out Gemini Enterprise across its own operations and help customers put AI to work on more complex business tasks. Wipro will deploy Gemini Enterprise internally and equip more than 10,000 AI-certified specialists to work with the technology.

 

MACRO WRAP

  • Jackson Hole: All eyes are on Fed Chair Kevin Warsh’s first major Jackson Hole keynote, where markets expect a hawkish tone. Markets are on edge for any signal on the rate path, with bond yields already rising in anticipation of a potentially hawkish tone.
  • The DJIA, the S&P500, and the Nasdaq Composite Index rose 0.2%, 0.7%, and 1.6% respectively. The Euro Stoxx 50 fell 0.7%. The Dollar Index was flat at 99.16. EUR-USD was unchanged at 1.1650.
  • The US 2Y yield rose 2bp to 4.23% and the 10Y climbed 3bp to 4.68%, with the move attributed to pre-Jackson Hole positioning and hawkish Fed commentary on the sidelines. The German 10Y yield rose 2bp to 3.25%. The UK 10Y yield was unchanged at 5.03%. Brent crude oil rose 2.1% to USD89.70. Gold edged up 0.2% to USD4,599.
  • China's industrial profits rose 11.2% yoy in July, decelerating from the 15.1% gain in June and the weakest monthly print so far this year. The slowdown extends a two-month softening trend and reinforces the picture of an uneven industrial recovery, where aggregate headline growth masks a widening divergence between technology-driven outperformers and the broader manufacturing base. On a year-to-date basis, profits for the January-to-July period rose 17.6%, easing from the 18.7% pace through June.

 

OTHER NEWS

Texmaco Rail: Company and Bochumer Verein Verkehrstechnik GmbH (BVV), Germany, have executed a Memorandum of Understanding (MoU) to explore potential collaboration in railway wheels, wheelsets, axles, and related rail vehicle components. This strategic partnership aims to: - Evaluate opportunities, technical, qualification, & certification requirements for Indian Railways. - Supply products to the global railway industry, including Indian Railways.