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ensex Today, Nifty 50 | Stock Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 10 September 2026.
Indian stocks trade flat in a listless session as elevated crude oil prices, rising US Treasury yields and persistent geopolitical tensions weigh on investor sentiment.
At 11.07 a.m., the Sensex was down 41.30 points, or 0.055 per cent, at 74,722.92, while the Nifty fell 9.55 points, or 0.041 per cent, to 23,421.95.
On Wednesday, the BSE Sensex tumbled 813.35 points, or 1.08 per cent, to 74,764.23, while the Nifty 50 declined 203.60 points, or 0.86 per cent, to 23,431.50.
WTI crude has climbed to $96–97 per barrel, while Brent is above $101.50, raising inflation concerns and pushing Treasury yields higher.
Asian markets are also weaker, with Japan’s Nikkei 225 and South Korea’s Kospi falling more than 1 per cent in early trade after losses on Wall Street and European markets.
Investors will closely watch upcoming US inflation data for clues on the Federal Reserve’s policy trajectory. A stronger-than-expected reading could reinforce higher-for-longer rate expectations.
The 23,400-23,300 zone will be crucial in determining whether the decline extends or bargain buying triggers a technical recovery. Escalating US-Iran hostilities and disruption to global oil supplies remain key risks.
Key technicals for today’s trade
* Trend: Bearish — the downtrend remains intact in Nifty 50 and September futures.
* Advance/decline ratio: 20/30 — breadth is negative, supporting the bearish bias.
* Immediate support: 23,500 in September futures. A break below this could trigger further selling.
* Next support/target: 23,300.
* Immediate resistance: 23,600. Upside is likely to remain capped here unless there is a clear breakout.
* Higher resistance: 23,680, followed by 23,750.
* Futures price action: September futures opened below the previous close and remain around 23,530, despite the underlying Nifty opening higher — a sign of weakness.
* Sector breadth: Nifty Realty is the weakest sector, while PSU Bank is outperforming; this does not alter the broader bearish setup.
Key trading levels
* Bearish trigger: Below 23,500
* Downside target: 23,300
* First resistance: 23,600
* Breakout level: Above 23,600
* Higher targets/resistances: 23,680–23,750
- September 10, 2026 11:37
Affordable Robotic & Automation receives purchase orders for robotic welding line; shares rise 1.5% to Rs 164.16
Affordable Robotic & Automation has received purchase orders from two esteemed domestic customers for the supply of robotic welding line.
Shares up 1.5% to Rs 164.16 on the NSE.
- September 10, 2026 11:36
Sri Lotus Developers promoter sells shares to meet public shareholding norms
Sri Lotus Developers and Realty Limited has informed the Exchange about sale of equity shares of face value of Re. 1 each ( Equity Shares ) of Sri Lotus Developers and Realty Limited ( Company ) by one of its promoters Mr. Anand Kamalnayan Pandit, in the open market for complying with minimum public shareholding requirement.
- September 10, 2026 11:33
Edelweiss Mutual Fund launches Altiva Equity Long-Short Fund, inviting investments from September 10 to September 24, 202
Altiva SIF by Edelweiss Mutual Fund (Edelweiss MF / EMF / EAMC) today announced the launch of the Altiva Equity Long-Short Fund, an open-ended Equity Long-Short investment strategy that seeks to generate long-term capital appreciation by predominantly investing in listed equity and equity-related instruments. The New Fund Offer will open on September 10, 2026, and close on September 24, 2026. The minimum application amount is ₹10 lakh.
- September 10, 2026 11:33
Mangalam Global Enterprise Limited appoints Ramesh Kumar Agrawal and Purvi Jayendra Bhavsar as Non-Executive Independent Directors for five years
Mangalam Global Enterprise Limited (MGEL) has appointed Mr. Ramesh Kumar Agrawal and Ms. Purvi Jayendra Bhavsar as Additional Directors in the capacity of Non-Executive Independent Directors, for a consecutive period of five years.
- September 10, 2026 11:29
Union Bank's maiden dollar bond draws 7.8x subscription, listed at GIFT City
- September 10, 2026 11:19
Govt bonds face twin drag from rising oil, US yields
- September 10, 2026 11:19
RBL Bank board clears $350 million 5-yr Notes issuance at 5.791% coupon
- September 10, 2026 11:05
Vodafone Idea shares in focus as Jefferies stays bullish, sees 25% operating profit CAGR
Vodafone Idea shares in focus as Jefferies stays bullish, sees 25% operating profit CAGR
Vodafone Idea shares remained in focus on Thursday after global brokerage firm Jefferies retained a bullish view on the stock. The stock traded at ₹15.26 at 10.42 am on the NSE, after declining nearly 2 per cent during the session to ₹15.24 from the previous close of ₹15.52.
- September 10, 2026 11:04
MIC Electronics acquires 59% stake in Singapore-based Neo Semi SG
- September 10, 2026 10:57
Supreme Infrastructure India shares rise 2% after reduction in corporate guarantee exposure
Supreme Infrastructure India Limited (“SIIL” or the “Company”) is pleased to announce a significant reduction in its corporate guarantee exposure pursuant to a court-approved amicable resolution plan relating to its erstwhile subsidiary, Kopargaon Ahmednagar Tollways (Phase I) Private Limited
Shares up 2% to Rs 87.60 on the NSE.
- September 10, 2026 10:55
HDFC Bank shares hit fresh 52-week low for second straight day: What is driving the stock?
- September 10, 2026 10:51
𝗔𝘁𝗵𝗲𝗿 𝗘𝗻𝗲𝗿𝗴𝘆 | 𝗡𝗼𝗺𝘂𝗿𝗮 𝗦𝗲𝗲𝘀 𝗠𝗼𝗿𝗲 𝗨𝗽𝘀𝗶𝗱𝗲
Nomura maintains 𝗔𝗖𝗖𝗨𝗠𝗨𝗟𝗔𝗧𝗘 on Ather Energy and raises its target price to 𝗥𝘀 𝟭,𝟵𝟮𝟲 from 𝗥𝘀 𝟭,𝟳𝟭𝟰.
𝗪𝗵𝗮𝘁’𝘀 𝗱𝗿𝗶𝘃𝗶𝗻𝗴 𝘁𝗵𝗲 𝘂𝗽𝗴𝗿𝗮𝗱𝗲?
* Upcoming 𝗞𝗼𝗻𝗮𝗿𝗰 𝗹𝗮𝘂𝗻𝗰𝗵 could open another growth leg
* 𝗘𝗩 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 is running faster than earlier expectations
* Electric 2W penetration is expected to reach 𝟮𝟮% 𝗯𝘆 𝗙𝗬𝟯𝟬𝗙
𝗧𝗵𝗲 𝗸𝗲𝘆 𝘀𝗶𝗴𝗻𝗮𝗹: This is increasingly becoming a 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆-𝗴𝗿𝗼𝘄𝘁𝗵 + 𝗺𝗮𝗿𝗸𝗲𝘁-𝘀𝗵𝗮𝗿𝗲 story, rather than just an EV adoption bet.
𝗪𝗮𝘁𝗰𝗵: Konarc launch execution, market-share gains and whether higher volumes translate into improving unit economics.
- September 10, 2026 10:51
Karnataka Bank unions call one-day strike on September 11 demanding five-day banking week and resolution of pending issues
All India Karnataka Bank Employees Association (AIKBEA) and Karnataka Bank Officers Organisation (KBOO), affiliated to the AIBEA and AIBOA respectively, under the banner of United Forum of Bank Unions (UFBU) has given a call for one day strike on 11.09.2026 demanding 5-day Banking Week, resolving of residual / pending issues etc.
- September 10, 2026 10:50
Gold, silver edge higher as Fed rate outlook, Iran tensions keep precious metals on edge ahead of CPI
Renisha Chainani, chief research officer at Augmont, writes - Fed Watch, Iran Standoff Keep Precious Metals on Edge Ahead of CPI
· Price Movement – Gold and silver edged higher, helped along by a softer dollar, as traders held their positions ahead of a key U.S. inflation print that could steer the Federal Reserve’s next move on rates. The metal’s strength isn’t just a knee-jerk reaction to the dollar, either — it reflects a deeper unease building around U.S. fiscal pressures, which continue to chip away at confidence in the long-term value of government debt, and by extension, the currency used to finance it.
· Geopolitical tensions – Tensions with Iran show no sign of cooling. Tehran signaled it’s prepared for a more intense confrontation, vowing to push back against the U.S. naval blockade and warning that any continued American strikes on Iranian soil would be met with sharper retaliation. Adding to the uncertainty, President Trump suggested the conflict is unlikely to wind down before the November midterms — a timeline that keeps geopolitical risk firmly in play for markets over the coming months.
· Macro-Economic Signals – All eyes are on Thursday’s producer price index, with CPI data landing Friday right behind it. A hotter-than-expected print would bolster the case for a September hike, likely pushing yields higher and adding to gold’s recent slide. A softer read would work the other way — easing pressure on the dollar, cooling rate expectations, and potentially giving gold room to push back toward $4,400.
- September 10, 2026 10:41
Nifty Prediction Today – September 10, 2026: Nifty futures: Weakness persists
- September 10, 2026 10:40
Stock in focus: Prestige Estates
Prestige Estates: ‘Southgrove Homes LLP’ and ‘Parkgrove Realty LLP’ has been incorporated as a Wholly-Owned Subsidiaries of the Company.
Shares traded at Rs 1526.10 on the NSE.
- September 10, 2026 10:40
GFF 2026: MobiKwik FX Retail simplifies forex for Indians, now offering six currencies on its app.
Shares flat at Rs 196.76 on the NSE.
- September 10, 2026 10:40
Ramco Cements’ Tamil Nadu limestone mine restoration earns global biodiversity recognition
The ecological restoration of the limestone mine in Pandalgudi, in the Virudhunagar District of Tamil Nadu, carried out by Ramco Cements, has received international recognition. It has been awarded the Advanced Certification by The Global Biodiversity Standard (TGBS) — the first site to be recognised at in Peninsular India. It now stands alongside other certified restoration sites of the world, such as the Jane Goodall Institute and Ecosia’s work in Uganda and the restoration project of Kadoorie Farm and Botanic Garden in Hong Kong.
Ramco Cements traded flat on the NSE at Rs 860.30 on the NSE.
- September 10, 2026 10:39
Dilip Buildcon sells stake in Under-Construction Power Transmission Project to Alpha Alternative
- September 10, 2026 10:28
Gold edges higher on weaker dollar, US inflation data in focus
- September 10, 2026 10:25
Nomura on Ather Energy
Buy, TP Raised to Rs 1926 from Rs1714
- Konarc launch to drive more upside
- Faster EV adoption strengthens Ather’s outlook
- Raise FY28-29F volume estimates to 794k (+104% y-y) / 1016k (28% y-y) vs. 699k/896k
- Now expect strong 54%/100%/31% revenue growth over FY27F/28F/29F (54%/80%/31% earlier) – an increase of 10-11%
- Believe Ather’s premium valuation at 5-7x EV/sales should sustain
- September 10, 2026 10:25
Jefferies on Voda Idea
Initiate Buy, TP Rs 20
- VIL offers high-beta turnaround opportunity in Indian telecom
- Expect subscriber stabilization to support an 11% revenue CAGR over FY26-29 which along with strong operating leverage will drive a 25% cash EBITDA CAGR and a sharp ROIC inflection through FY31.
- VIL’s premium multiples should sustain during turnaround
- With every 10% tariff hike potentially driving c.34% equity upside
- investment thesis hinges on future tariff hikes and a required Rs160bn equity raise by FY30.
- September 10, 2026 10:24
Brokerage Views on Manipal Hospitals
JPM on Manipal Hospitals: Neutral, TP Rs 800
- Manipal is among the largest private hospital chains in India and a leading consolidator, with growth supported by steady volume and ARPOB-led expansion, ramp-up in acquired assets, and capacity additions of ~2,600 beds by FY30.
- However, return ratios remain in the high single digits, reflecting the acquisition-heavy growth mix and the time needed for recently acquired Sahyadri to be integrated and scaled
- Neutral stance is driven by valuation (27x/22x FY28/29 EV/EBITDA, minority-adjusted; upside ~10%) & investor focus on clearer evidence of Sahyadri execution
UBS on Manipal Hospitals: Initiate neutral. TP Rs 850
- Forecast revenue and EBITDA CAGRs of 19% & 20%, respectively, over FY26-30E
- See potential for upside from a faster-than expected turnaround at Sahyadri and faster ramp-up of new facilities in Bengaluru.
- However, acquisition-led growth has resulted in lower ROIC relative to industry leaders (Fig 27), which could limit further multiple rerating despite healthy operating growth
- Stock has risen around 20% since listing and trades at 28x one-year forward EV/EBITDA, at a premium to large hospital peer group average of 24x
- While growth remains healthy, believe much of the growth is already reflected in current valuations
GS on Manipal Hospitals: Initiate Buy, TP Rs 865
- Expect: 1) Top quartile topline growth: >20% CAGR (high-teens on a proforma base) among larger peers over FY26-29E driven by ramp-up of new hospitals and improvement in base business mix;
- 2) Industry leading core margins to improve: Ex-Sahyadri FY26 EBITDA margins stood at 26.3%, with potential to expand driven by volume momentum and operating leverage;
- 3) Best-in-class track-record for turning around acquired hospitals: Manipal has been largest consolidator of beds in Indian healthcare space over past 5-6 years with >5,500 beds acquired
Jefferies on Manipal Hospitals: Initiate with Accumulate, Target: ₹870
- Excellence At Scale
- Scaled hospital chain with industry leading metrics
- Proven integration playbook
- Healthy mix of brownfield and greenfield expansion
- Operating leverage from scale & Sahyadri turnaround
- September 10, 2026 10:23
Brokerages on Adani group stocks
Jefferies on Adani Enterprise: Buy, TP Rs 3830
- AEL is a unique infrastructure incubator, building & scaling businesses across critical infra, energy transition, logistics, & import substitution.
- With a proven track record of incubating mkt leaders, its portfolio spans growth platforms at different stages of maturity, offering a long runway for growth.
- Backed by Rs2trln investments over FY26-31, est 23% EBITDA CAGR.
- Airports, Data Centres, & ANIL are largest contributors to SOTP-based PT
MOSL on Adani Enterprise: Buy, TP Rs 3880
- AAHL fundraise in line with monetization strategy, strengthens growth outlook
- Management intends to use the proceeds to
- (1) modernize and expand airport infrastructure,
- (2) develop 22msf of mixed-use Adani Airport City projects in the first phase
- (3) scale up ground handling and other non-aeronautical businesses
- Estimate a CAGR of ~22%/29%/82% in revenue/EBITDA/PAT over FY26-29, aided by growth, margin expansion, and increasing contribution from high-margin verticals.
Jefferies on Adani Energy: Buy, TP Rs 2060
- Co has tied up 2.5 GW of round-the-clock (RTC) power supply to Maharashtra State Electricity Distribution Cofor 25 years.
- This increases tied-up volumes of the trading segment to 57% in FY28E vs 20% at end of 1QFY27, making EBITDA profile more sustainable.
- Merchant prices have also been higher during 2QFY27 till date which could mean some positive surprise potential in the trading segment in 2Q also.
Macquarie on Adani Ports: O-P, TP Rs 2100
- NQXT’s first full-year of consolidation and Colombo’s rapid ramp-up improve visibility on international cargo, while domestic growth is supported by capacity additions at Mundra, Dhamra and Vizhinjam, alongside incremental expansion and utilisation gains at Krishnapatnam, Gangavaram and Kattupalli.
- Key projects include Mundra CT5 (+1.6mn TEUs) and Vizhinjam Phase 2 (5.7mn TEUs by Dec ‘28).
- Management targets 1 billion tonnes of installed domestic capacity by December 2030
- Recently awarded Paradip CQ-I and CQ-II concession adds a further 18 MMT of planned mechanised dry-bulk capacity (assumed commissioning by FY29E).
- September 10, 2026 10:22
Harish Vatnani, Head of Trade, ZebPay on crypto markets
“The first session after the Labor Day holiday brought a more cautious tone to the crypto ETF market. U.S. spot Bitcoin ETFs saw $46.65 million in net outflows, despite fresh inflows into BITB, IBIT, ARKB and MSBT. These were outweighed by redemptions from Grayscale’s GBTC, Fidelity’s FBTC and Invesco’s BTCO.
Bitcoin ETFs recorded $2.41 billion in trading volume, with total net assets at $99.52 billion. Ether ETFs also saw $24.29 million in outflows, although Fidelity’s FETH attracted $9.89 million, helping limit the decline.
The broader market, however, remains resilient. Global crypto market cap is around $2.78 trillion, up 1.7% in 24 hours, while Bitcoin is trading near $79,195. Fresh catalysts include the sharp rise in HOOD, growing crypto payment activity in Iran, and new XRP and HBAR ETF inflows.
The bigger risks remain macro and regulatory, with the September 15 CLARITY Act vote, U.S.-Canada trade tensions and changing Fed rate expectations all capable of shifting sentiment quickly. For now, Bitcoin holding near $79,000 keeps the bullish setup intact, but ETF flows will be an important signal to watch.”
- September 10, 2026 10:21
Bitcoin outlook turns cautious as $100 oil, higher US yields pressure risk assets: Riya Sehgal, Research Analyst, Delta Exchange
Crypto remains cautious and range-bound, with macro conditions driving most of the pressure. Bitcoin failed to hold its move toward $79.7K and is back near $78.4K, while Ethereum has slipped below $2,500 but continues to show better relative strength.
On the 4H chart, BTC remains below its 50 EMA near $78.9K, with RSI around 43, keeping the short-term bias neutral-to-bearish. The key support is $77.6K–$78K, while BTC needs to reclaim $79K and then $79.8K–$80K to improve momentum. ETH is holding around its 50 EMA near $2,472, with support at $2,450–$2,470 and resistance around $2,500–$2,525.
Macro remains the main driver. Oil is above $100, the US 10Y yield briefly reached around 4.84%, and markets are reassessing the Fed outlook. Higher oil and yields are weighing on risk assets, while a relatively softer dollar is providing some support.
The $6B Treasury buyback of 10–20Y bonds is also in focus after yields initially moved higher following the announcement.
Attention now shifts to US PPI and jobless claims, followed by CPI. Inflation data, oil prices and Treasury yields are likely to be the key volatility triggers for BTC and broader risk markets.
- September 10, 2026 10:20
On weekly SENSEX derivatives expiry by Shilpa Rout, senior Analyst - Derivates at PL Capital
The Sensex is likely to remain volatile around the weekly expiry, with the 74,000–73,2000 zone emerging as the immediate support area, while 75,500–75,800 remains the key resistance band. A sustained move above 75,800 would improve the near-term setup, whereas a break below 74,000 could extend the correction towards 73,500.
With crude oil above $100 and geopolitical uncertainty keeping risk appetite subdued, we expect heightened two-way volatility during expiry. The recently introduced Closing Auction Session could further amplify last-minute swings, particularly given the relatively thinner liquidity in Sensex derivatives. Traders should therefore remain cautious with aggressive option-selling strategies around the closing period.”
The 74,000–74,200 support / 75,500–75,800 resistance framework is consistent with current technical readings, while the elevated expiry volatility is particularly relevant after the extreme moves seen during the last Sensex expiry.
- September 10, 2026 10:20
Bitcoin trades near $78,000 as US-Iran tensions trigger shift towards ‘Hard Asset’ behaviour: Prateek Gupta, Head of Business, Mudrex
Bitcoin is consolidating around the $78,000 range after briefly rising near the $80,000 mark, tracking a rise in gold prices. This comes as global equities fell on the back of renewed attacks traded between the US and Iran in the Strait of Hormuz. It signals a shift in Bitcoin’s behaviour in the face of geopolitical shocks, rising like a hard asset rather than falling like a risk asset. Looking ahead, markets will focus on the US’ August Producer Price Index and Consumer Price Index releases this week for signals on the direction of the Federal Reserve’s rate decision on September 16. In the absence of further shocks, Bitcoin is likely to remain range-bound between $77,000 and $79,000
- September 10, 2026 10:19
India’s new industrial revolution: Jefferies flags space, semiconductors, solar among 6 high-growth sectors
- September 10, 2026 10:17
Tata Consultancy Services (TCS) traded flat at Rs 2,210 on the NSE, it had announced the launch of an Industrial Autonomy & Engineering Lab at its Sahyadri Park campus in Pune.
- September 10, 2026 10:11
Brent crude oil price stays above $100 as US-Iran tensions escalate
- September 10, 2026 10:09
Dilip Buildcon shares up 5%
Dilip Buildcon shares surged over 5% to Rs 413.60 on the NSE. Company secured an LOI from PNGRB to develop and operate the Paradip-Raipur LPG pipeline under a 25-year authorization
- September 10, 2026 10:02
Rupee falls 25 paise to 95.33 against US dollar in early trade
The rupee depreciated 25 paise to 95.33 against the US dollar in early trade on Thursday as Brent crude price crossed the USD 100 dollar mark sharply increasing concerns over India’s import bill.
Forex traders said elevated crude oil prices and persistent dollar demand also weighed on investor sentiments. - PTI
- September 10, 2026 09:53
Hindustan Zinc traded flat at Rs 609.90 on the NSE. Company signed a six-year transportation agreement with MFL India
- September 10, 2026 09:53
Redington shares hit 52-week high ahead of iPhone 18 Pro launch; stock trades at Rs 382.75 on NSE
Redington, Apple distributor, shares traded at Rs 382.75 on the NSE after hitting a fresh 52-week high of Rs 398.45. Stock surged ahead of the sale of the iPhone 18 Pro and iPhone 18 Pro Max in India.
- September 10, 2026 09:51
Canara Bank to raise up to ₹4,500 crore via Basel III perpetual bonds
- September 10, 2026 09:41
Gold prices hold near $4,400 as rising US Treasury yields, oil prices and Fed rate-hike expectations cap bullion gains ahead of inflation data
Motilal Oswal Financial services Ltd
Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd
Gold prices held near $4,400 as investors remained cautious ahead of key U.S. inflation data, while competing signals from fiscal concerns, rising Treasury yields and escalating Middle East tensions kept bullion volatile. Gold initially found support after the U.S. Treasury announced plans to buy back up to $6 billion of longer-dated government debt, reinforcing concerns over fiscal sustainability and the long-term value of the dollar.
However, the announcement failed to calm bond markets, with the benchmark 10-year Treasury yield climbing toward 4.85%, its highest since 2023. Meanwhile, crude moved above $100/bbl as escalating U.S.-Iran tensions and attacks on regional shipping intensified concerns over energy supplies, increasing the risk of renewed inflationary pressures.
Higher oil prices and yields have strengthened expectations that the Federal Reserve could raise rates at its September 15-16 meeting, with markets pricing around a 60% probability of a hike. This has capped gold’s upside despite continued support from fiscal and currency concerns.
Market attention now shifts to U.S. PPI and CPI releases, which will be crucial in determining whether persistent inflation warrants further Fed tightening and could provide the next major directional trigger for bullion.
- September 10, 2026 09:36
Axis Bank’s AI push signals slower hiring ahead for India firm
- September 10, 2026 09:35
Brent crude holds above $100 on US-Iran tensions; mixed movement seen in global and MCX futures
Brent crude oil futures remained above $100 a barrel on Thursday morning due to escalating tensions between the US and Iran in West Asia. At 9.34 am on Thursday, November Brent oil futures were at $101.02, down by 0.19 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $96.12, up by 0.07 per cent. September crude oil futures were trading at ₹9138 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹9099, up by 0.43 per cent, and October futures were trading at ₹8829 against the previous close of ₹8810, up by 0.22 per cent.
- September 10, 2026 09:32
SRG Housing Finance denies reports of fictitious loan accounts flagged by NHB, says no communication received from regulator
SRG Housing Finance noted the news reports circulating regarding Fictious loan accounts of SRG Housing Finance flagged by NHB. The “Company hereby strongly denies and rejects the observations, allegations and implications reported in these articles. Firstly, the company has not received any communication from NHB Refinance Department regarding reporting of Red ϐlags on any loan accounts.”
- September 10, 2026 09:28
Capri Global settles $300 million 7.55% senior secured notes due 2029 under $1 billion global medium term note programme
Capri Global informed settlement of the U.S.$ 300,000,000 7.55% senior secured notes due December 2029 (“Notes”), issued under the U.S.$ 1 billion global medium term note programme
- September 10, 2026 09:27
Vedant Fashions wins appeal as demand for interest and penalties set aside; shares flat on NSE
Vedant Fashions received an order passed by the Additional Commissioner, Office of the Commissioner of CGST and CEX (Appeals-III), Mumbai, favourable to the Company, as the demand for interest and penalties aggregating to ₹2,73,471 have been set aside.
Shares flat at Rs 582.10 on the NSE.
- September 10, 2026 09:24
Nifty today: Top gainers, losers at this hour of trade
Top gainers of Nifty 50: ONGC (+2.41%), SBI (+0.90%), Axis Bank (+0.77%), ITC (+0.71%), Cipla (+0.51%)
Top losers: M&M (-0.97%), Adani Ports (-0.73%), Tata Steel (-0.70%), Shriram Finance (-0.69%), HCL Tech (-0.59%)
- September 10, 2026 09:21
Opening bell: Sensex, Nifty open lower
Sensex traded marginally flat, up 49.26 pts or 0.07% to 74,813.49 after opening at 74,742.54. Nifty 50 inched up 17.25 pts or 0.07% to 23,448.75. Sectoral indices traded in a mix, IT continued to dip.
On Wednesday, BSE Sensex tumbled 813.35 pts or 1.08% to 74,764.23. Nifty 50 depreciated 203.60 pts or 0.86% to 23,431.50.
- September 10, 2026 09:12
Indian rupee opens down 0.15% at 95.25 per US dollar; previous close 95.1050
- September 10, 2026 09:04
NSE slashes IPO ambitions as world’s biggest options boom fades
- September 10, 2026 08:52
Corporate Actions
Dividend
10-Sep-26
RADIANTCMS: Final Dividend - Rs. - 2.50
ZEEL: Final Dividend - Rs. - 2.00
SICAGEN: Final Dividend - Rs. - 1.00
JMJFIN: Final Dividend - Rs. - 0.15
LINC: Final Dividend - Rs. - 1.50
INDSILHYD: Final Dividend - Rs. - 0.60
CHEMCRUX: Final Dividend - Rs. - 1.00
TVSSRICHAK: Final Dividend - Rs. - 37.80
GRAUWEIL: Final Dividend - Rs. - 0.50
APEX : Final Dividend - Rs. - 2.50
ELNET: Final Dividend - Rs. - 2.00
MBEL: Final Dividend - Rs. - 1.00
GANECOS: Dividend - Rs. - 3.50
HARSHDEEP: Final Dividend - Rs. - 0.25
DIVGIITTS: Final Dividend - Rs. - 3.27
VALIANT: Dividend - Rs. - 1.50
INDOCO: Final Dividend - Rs. - 0.20
POWERMECH: Final Dividend - Rs. - 1.50
11-Sep-26
HEIDELBERG: Final Dividend - Rs. - 7.00
ABIRAFN: Final Dividend - Rs. - 1.50
CSLFINANCE: Final Dividend - Rs. - 10.00
GUJENERGY: Final Dividend - Rs. - 8.90
BLIL: Final Dividend - Rs. - 2.27
GSFC: Dividend - Rs. - 5.00
BALMLAWRIE: Final Dividend - Rs. - 4.25
KVFORGE: Final Dividend - Rs. - 3.00
JOSTS: Final Dividend - Rs. - 5.00
RUPA: Final Dividend - Rs. - 3.00
GIPCL: Final Dividend - Rs. - 4.10
METROGLOBL: Final Dividend - Rs. - 2.50
SAVERA: Final Dividend - Rs. - 3.00
FINPIPE: Final Dividend - Rs. - 2.75
HARLETH: Final Dividend - Rs. - 1.00
ALPHAGEO: Final Dividend - Rs. - 5.00
DUTRON: Dividend - Rs. - 1.50
NFL: Final Dividend - Rs. - 1.04
COMFINCAP: Final Dividend - Rs. - 0.10
BANCOINDIA: Final Dividend - Rs. - 8.00
NCLIND: Final Dividend - Rs. - 2.00
CMSINFO: Final Dividend - Rs. - 2.50
SALAUTO: Final Dividend - Rs. - 2.00
MOLDTECH: Final Dividend - Rs. - 2.00
CEEJAY: Final Dividend - Rs. - 1.50
SANTETX: Final Dividend - Rs. - 1.50
UTTAMSUGAR: Final Dividend - Rs. - 2.50
DYNAMIND: Final Dividend - Rs. - 1.00
COMFINTE: Final Dividend - Rs. - 0.05
DHPIND: Final Dividend - Rs. - 4.00
TECHNOE: Final Dividend - Rs. - 7.00
NATPLASTI: Final Dividend - Rs. - 1.50
RHIM: Final Dividend - Rs. - 2.50
IREDA: Final Dividend - Rs. - 0.75
DATAMATICS: Final Dividend - Rs. - 5.00
TEXRAIL: Dividend - Rs. - 0.75
ATULAUTO: Final Dividend - Rs. - 3.00
SANDHAR: Final Dividend - Rs. - 4.00
DYNPRO: Final Dividend - Rs. - 1.50
VENKEYS: Final Dividend - Rs. - 10.00
MEDIASSIST: Final Dividend - Rs. - 2.00
PPAP: Final Dividend - Rs. - 1.50
AMRUTANJAN: Final Dividend - Rs. - 2.90
IRMENERGY: Final Dividend - Rs. - 1.50
SBGLP: Final Dividend - Rs. - 0.12
NSDL: Final Dividend - Rs. - 4.00
SKMEGGPROD: Final Dividend - Rs. - 1.25
NITINSPIN: Final Dividend - Rs. - 3.00
BAJAJHCARE: Final Dividend - Rs. - 1.50
TRANSRAILL: Final Dividend - Rs. - 2.00
MOLDTKPAC: Final Dividend - Rs. - 3.00
SUBROS: Final Dividend - Rs. - 3.00
KALYANKJIL: Final Dividend - Rs. - 2.50
ZUARIIND: Final Dividend - Rs. - 1.00
APARINDS: Final Dividend - Rs. - 60.00
MANCREDIT: Final Dividend - Rs. - 0.75
PYRAMID: Final Dividend - Rs. - 0.50
BECTORFOOD: Final Dividend - Rs. - 0.70
SUNFLAG: Final Dividend - Rs. - 1.00
LINCOLN: Final Dividend - Rs. - 1.80
AMNPLST: Final Dividend - Rs. - 0.50
INDOTHAI: Final Dividend - Rs. - 0.10
COMPEAU: Final Dividend - Rs. - 1.00
PITTIENG: Final Dividend - Rs. - 2.50
KRYSTAL: Final Dividend - Rs. - 1.50
BLUEJET: Final Dividend - Rs. - 1.20
ASAHIINDIA: Final Dividend - Rs. - 2.00
SIGNPOST: Final Dividend - Rs. - 0.50
AARTIIND: Final Dividend - Rs. - 1.00
GSPCROP: Final Dividend - Rs. - 1.00
LOTUSDEV: Interim Dividend - Rs. - 0.30
HBLENGINE: Final Dividend - Rs. - 1.00
CEIGALL: Final Dividend - Rs. - 0.50
ASTRAMICRO: Final Dividend - Rs. - 2.40
SUYOG: Final Dividend - Rs. - 1.00
JTLIND: Final Dividend - Rs. - 0.1250
PAISALO: Final Dividend - Rs. - 0.10
TALBROAUTO: Final Dividend - Rs. - 0.55
TEGA: Final Dividend - Rs. - 2.00
PHOENIXLTD: Final Dividend - Rs. - 2.50
SRD: Final Dividend - Rs. - 0.05
TATVA: Final Dividend - Rs. - 2.00
ASHIKAG: Final Dividend - Rs. - 0.50
CHALET: Final Dividend - Rs. - 1.00
ARIHANTSUP: Final Dividend - Rs. - 0.25
AXISOL: Final Dividend - Rs. - 0.60
ADVAIT: Final Dividend - Rs. - 2.00
SHAILY: Final Dividend - Rs. - 3.00
WAAREEENER: Final Dividend - Rs. - 2.00
BPLPHARMA: Final Dividend - Rs. - 1.00
MANORAMA: Final Dividend - Rs. - 0.80
DCI: Final Dividend - Rs. - 0.10
IPO
Kanohar Electricals: Open: 08-Sep-26; Close: 10-Sep-26
Prasol Chemicals: Open: 08-Sep-26; Close: 10-Sep-26
Glass Wall Systems (India): Open: 08-Sep-26; Close: 10-Sep-26
Karamtara Engineering: Open: 09-Sep-26; Close: 11-Sep-26
Manipal Payment & Identity Solutions: Open: 09-Sep-26; Close: 11-Sep-26
Asset Reconstruction Company (India): Open: 09-Sep-26; Close: 11-Sep-26
LCC Projects: Open: 09-Sep-26; Close: 11-Sep-26
Rentomojo: Open: 09-Sep-26; Close: 11-Sep-26
Steamhouse India: Open: 09-Sep-26; Close: 11-Sep-26
Veegaland Developers: Open: 10-Sep-26; Close: 15-Sep-26
Manika Plastech: Open: 11-Sep-26; Close: 16-Sep-26
Jindal Supreme (India): Open: 16-Sep-26; Close: 18-Sep-26
Buyback
PVR Inox: Open: 10-Sep-26; Close: 17-Sep-26
Bonus Issue
---
Stock Split
Oriana Power: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 18-Sep-26
TAAL Tech: Stock Split From Rs. 10/- to Rs. 2/-; Ex-Date: 22-Sep-26
Right Issue
Esaar India: Open: 02-Sep-26; Close: 11-Sep-26
Viceroy Hotels: Open: 03-Sep-26; Close: 11-Sep-26
NCL Research & Financial Services: Open: 03-Sep-26; Close: 18-Sep-26
Jaykay Enterprises: Open: 07-Sep-26; Close: 18-Sep-26
- September 10, 2026 08:51
Global markets: $100+ oil stokes inflation fears as rates, currencies and growth come under pressure
Japan: BOJ may hike rates rapidly if inflation accelerates; strong semiconductor demand lifts manufacturers’ confidence, while rising JGB yields may keep domestic money at producer and consumer inflation higher, although weak underlying domestic demand remains a concern.
US: $100+ oil is raising inflation fears; Wall Street slipped, Treasury plans up to $6bn bond buybacks, while markets increasingly see a possible Fed hike later in 2026.
India: Rupee falls past ₹95/$ amid expensive oil and capital outflows; RBI likely using FX swaps/intervention to manage liquidity and currency pressure, while inflation is expected to hit a 20-month high.
China: Energy costs pushed August producer and consumer inflation higher, although weak underlying domestic demand remains a concern; China’s 2026 oil demand is forecast to fall 8.9%.
UK: Housing-market slowdown appears to be bottoming out, according to RICS, suggesting conditions may be stabilising.
Eurozone: ECB faces renewed pressure to hike rates as the Middle East conflict and $100+ oil threaten to reignite inflation.
South Korea: Samsung-related shareholder activism is intensifying, while broader Asian markets face pressure from $100+ oil and higher global yields.
Brazil: Government is boosting diesel subsidies and cutting fuel taxes to cushion consumers from the global oil-price surge.
Mexico: August inflation accelerated for the first time in five months, though core pressures eased; government sees 2027 GDP growth of 1.5–2.5%.
New Zealand: Government will allow wealthy migrants to invest in approved build-to-rent housing projects from December to attract foreign capital.
Thailand: Government plans a $1.5bn rooftop-solar support programme from mid-October to encourage household renewable-energy investment.
Vietnam: Vietnam and South Korea are accelerating talks on nuclear-power projects as Hanoi pushes to revive nuclear energy.
Source: Reuters
- September 10, 2026 08:51
Kolte-Patil Developers sells 600 apartments worth over Rs 600 crore in 60 hours
Kolte-Patil Developers said its ‘Vyana at The Reserve’ project in Vadgaon, Pune, recorded over 600 apartment bookings worth more than Rs. 600 crore within 60 hours. The company said this was its strongest launch performance ever. Spread across 20 acres, the project is part of ‘The Reserve’, a premium riverside development with about 5 million sq ft of potential saleable area and an expected GDV of Rs. 4,000 crore.
Shares surged 5% to Rs 464.60 on the NSE.
- September 10, 2026 08:50
Sigma Advanced Systems moves Sri City aerospace facility into production
Sigma Advanced Systems said its dedicated aerospace manufacturing facility at Sri City, Andhra Pradesh, has entered active production, completing the transition from groundbreaking to production in eight months. The facility’s first batch of precision-machined aerospace components has been shipped to Sigma UK for final verification. The operation has also completed initial source-change approval stages with Rolls-Royce Aerospace. The first 75,000 sq ft facility provides 100,000 annual machining hours, with capacity planned to reach nearly 300,000 hours.
Shares surged 4% to Rs 785 on the NSE.
- September 10, 2026 08:44
Japan's Nikkei sinks amid rise in oil as Iran war escalates
Japan’s Nikkei share average slumped on Thursday, as global markets felt the pressure from oil breaching the $100-per-barrel mark with the Middle East conflict widening.
Iran on Wednesday said it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, in the biggest wave of attacks on shipping by both sides since the start of the six-month-old war. - Reuters
- September 10, 2026 08:42
Bitcoin trades near $78,250 as investors await US inflation data; $77,200-$78,000 support, $79,700-$80,500 resistance key for momentum.
Vikram Subburaj, CEO, Giottus.com
Bitcoin traded near $78,250 on Thursday morning, down about 0.5% over 24 hours, as investors remained cautious ahead of two crucial US inflation releases. Bitcoin continues to struggle below $80,000, with $77,200-$78,000 providing immediate support. A break below this area could expose $74,000-$75,000. Resistance lies around $79,700-$80,500. The larger supply zone between $83,000 and $86,000 remains the next major hurdle.
The latest on-chain picture is more constructive than the subdued price action suggests. Selling near recent range highs is running at less than half the pace seen at August’s peak. Long-term holders have also largely stayed out of the latest selling. However, spot conviction remains weak. Momentum has fallen 30%. Meanwhile, Futures open interest has increased to $37.1 billion. Options open interest has risen to $40.1 billion. This combination suggests limited spot buying alongside rising derivatives exposure.
Institutional demand has also cooled in recent sessions. US spot Bitcoin ETFs attracted $770 million in net inflows between September 1 and 4. They then recorded $46.6 million in net outflows on September 8. Farside currently shows another $100.7 million in net outflows on September 9.
Large-cap altcoins are mostly softer. Ethereum traded near $2,466 (-1.2%), BNB around $737 (-1.8%), XRP near $1.39 (-1.9%), and Solana around $101.4 (-1.9%). TRON was relatively resilient near $0.339, up about 0.4%.
Macro remains the key driver. Markets price about a 60% probability of a Fed rate hike next week, although a Reuters poll shows most economists still expect rates to remain at 3.50%-3.75%. US PPI is due today and CPI tomorrow, ahead of the September 15-16 Fed meeting. Brent crude near $101.4 and the US 10-year Treasury yield around 4.84% are adding to inflation concerns.
Our advice: Investors should remain measured ahead of inflation data. Excessive leverage should be avoided. The $77,200-$78,000 range is the key support zone. Immediate resistance lies around $79,700-$80,500. Bitcoin needs to clear this area for momentum to improve.
- September 10, 2026 08:36
Gold edges higher on weaker dollar, US inflation data in focus
Gold inched higher on Thursday, helped by a softer dollar, while market participants awaited key U.S. inflation data that could shape the Federal Reserve’s interest-rate path.
Spot gold was up 0.3% at $4,412.84 per ounce, as of 0234 GMT. U.S. gold futures for December delivery fell 0.1% to $4,457.10. - Reuters
- September 10, 2026 08:26
Bitcoin holds near $78,000 as U.S. Treasury buybacks and Iran tensions drive muted moves; focus shifts to 10-year yield
BTC is holding near $78K-$79K despite the U.S. Treasury buying back $6 billion of long-term debt. BTC briefly moved up to $79,650, but U.S.-Iran tensions pushed Brent crude above $100, pulling BTC back toward $78K. The reaction has been relatively muted compared with August, when Treasury buybacks helped drive a stronger BTC rally. Attention now shifts to the U.S. 10-year Treasury yield, which could move above 5% if geopolitical tensions and inflation concerns remain elevated said CoinSwitch Markets Desk
- September 10, 2026 08:26
NSE IPO: Exchange to freeze ISIN from September 11; no offline share transfers allowed until listing
NSE will freeze its ISIN starting September 11, 2026 (Tomorrow), ahead of its IPO.
- September 10, 2026 08:25
PVR Inox Ltd (PVRINOX) Buyback of shares Starts today
Buyback Price : Rs 1,450.00/-
CMP : Rs 1,168.00/-
Buyback Size (in Rs): 300.00 Crore
Buyback Size (in Shares): 20.69 lakh equity shares (representing 2.11% of total paid up Equity Share Capital)
Retail Quota: 3.10 lakh equity shares
Last cum date: Thursday, September 3, 2026
Record date: Friday, September 4, 2026
Schedule announced
Buyback opening date: Thursday, September 10, 2026 (Today)
Buyback closing date: Thursday, September 17, 2026
Settlement date: Thursday, September 24, 2026
- September 10, 2026 08:25
Bitcoin outlook: BTC holds near $78,000 as $77,000-$77,500 support and $80,000-$82,000 resistance remain key levels; golden cross signals improving momentum.
Nischal Shetty, founder, WazirX
“Markets are showing a mixed but broadly risk-on tone today: gold futures are edging higher (+0.17%) to $4,409.55, even as the U.S. Dollar Index slips slightly (-0.09%) to 98.720, suggesting modest dollar weakness. In crypto, Bitcoin dominance ticked up (+0.32%) to 59.06%. Sentiment remains firmly in Greed territory, with the Fear & Greed Index at 70, pointing to elevated investor optimism across risk assets.
Bitcoin is holding around $78K, with $77K–$77.5K emerging as near-term support and $80K–$82K as the key resistance zone. Ethereum remains above the $2,350–$2,400 support band, while $2,500–$2,565 could act as the immediate resistance range. Looking at the last 24 hours, the liquidation heatmap shows that leverage is being flushed across the market, not just in a single token. Bitcoin and Ethereum account for some of the largest liquidation pockets at around $83M and $60M respectively, while another $83M+ sits across the broader altcoin market, with ZEC and SOL also seeing notable activity.
Bitcoin’s setup is getting interesting. The daily golden cross is a positive signal and shows momentum is improving, but the bigger question is whether Bitcoin can reclaim and hold its 50-week moving average. BTC is already above its 200-week moving average, which has historically been an important long-term support. If the 50-week moving average turns into support as well, that would give the ecosystem much stronger confirmation that the market structure has shifted.”
- September 10, 2026 08:24
Nifty outlook: Markets likely to turn bullish only above 24,000; 23,200 remains major support
Vikram Kasat - Chief Business Officer – Advisory and Dealing at PL Capital
The long awaited $2,000 iPhone Duo is here but it’s the market that folded on Wednesday, as higher oil prices and lower bond buybacks weighed on investors’ moods.
Dow Jones lost 0.8% while S&P 500 fell 0.5% and Nasdaq slipped 0.6%.
Investors were also disappointed by the U.S. Treasury’s planned purchase of $6 billion in long-term debt, as some were hoping it would be as high as $10 billion. The bond market has been a persistent worry this year, as prices drop and yields rise, raising borrowing costs and alarm about the government’s debt levels. Today’s announcement did little to calm those fears.
Nifty 23431.50
Markets wil turn bullish only above 24000 levels, Major Support now: 23200
- September 10, 2026 08:23
Praxis Home Retail raises interest rate on loans to CMS IT Services to 13% per annum, effective retrospectively
Praxis Home Retail Ltd has announced an amendment to its inter-corporate loan agreements with CMS IT Services Pvt Ltd. The company announced a mutual agreement to revise the interest rate on the unsecured inter-corporate loan facilities from 11% per annum to 13% per annum. The revised rate applies retrospectively to the original agreement dates of May 22 and June 23.
- September 10, 2026 08:23
Cheffin launches Asian Noodle Kits with digital campaign; introduces Pad Thai, Miso Ramen, Spicy Kimchi, and Khow Suey for instant delivery
Cheffin, a food brand from Tasty Bite Eatables Limited, has launched its Asian Noodle Kits alongside a new digital video campaign, introducing a differentiated, first-of-its-kind noodle format to the Indian market. The range brings together ready noodles, real sauces or broths with vegetables and crunchy toppings in a single kit, to recreate a restaurant-style Asian noodle experience at home in just two minutes. The new range debuts with four celebrated Asian classics: Pad Thai, Miso Ramen, Spicy Kimchi, and Khow Suey, and is available for instant delivery across Blinkit, Zepto, and Swiggy Instamart, as well as on Amazon.
- September 10, 2026 08:23
Tuni Textile Mills finalises terms and schedule for rights issue of up to ₹4,898.66 lakhs
Tuni Textile Mills Limited has formally determined the final terms and schedule for its upcoming rights issue aggregating to an amount not exceeding ₹4,898.66 lakhs. The announcement comes in furtherance to the initial approval granted by the Board of Directors on March 10, 2026, and following the in-principle approval received from BSE Limited on July 14, 2026. During its meeting held on September 09, 2026, which commenced at 2:30 p.m. and concluded at 3:45 p.m., the Rights Issue Committee considered and approved the detailed structure of the offering alongside the Letter of Offer to be filed with BSE Limited.
- September 10, 2026 08:22
Ampere Magnus GMax begins ~4,000-km endurance ride from Arunachal Pradesh to Gujarat
Ampere Magnus GMax Begins the Ultimate Endurance Ride - Sets Out on a ~4,000 km ride from East to West of India
The Ultimate Endurance Ride is a Sunrise to Sunset journey from India’s easternmost point in Dong, Arunachal Pradesh, to westernmost point in Guhar Moti, Gujarat, testing the scooter across different terrain and weather conditions India has
Bengaluru/New Delhi, 08 September 2026: On this World EV Day, Ampere, the electric two-wheeler brand of Greaves Electric Mobility, has embarked on the Ultimate Endurance Ride - a ~4,000 km test of the Ampere Magnus GMax from India’s easternmost sunrise point in Dong, Arunachal Pradesh, to westernmost sunset point in Guhar Moti, Gujarat. Ridden by Girish Seth of Weekend on Wheels, the 15-day journey will traverse 8 states, taking the scooter across high-altitude mountain roads, highways, urban stretches, heat, humidity and challenging terrains. Over these 15 consecutive days the Ampere Magnus GMax will face a temperature swing of roughly 20° from around 15°C in the humid, monsoon-hit conditions of Dong to over 35°C in the Gujarat heat - descent of over 1,200 meters from Dong to sea level, and five distinct terrain types - rocky mountain passes, forested hill roads, smooth national highways, dense urban city stretches, and the coastal/salt-flat terrain near Guhar Moti. Every kilometer, every charge and every reading will be recorded.
- September 10, 2026 08:22
WATCH: Today's stock recommendation: September 10, 2026
- September 10, 2026 08:21
These 32 well-known stocks closed below their previous 52-week lows on September 9, 2026
🔻HUL
🔻Wipro
🔻Pfizer
🔻Dabur
🔻IRCTC
🔻Spice Jet
🔻Indosolar
🔻CSB Bank
🔻KP Energy
🔻Rallis India
🔻HDFC Bank
🔻Havells India
🔻Eureka Forbes
🔻Kama Holdings
🔻Empire Industries
🔻KEC International
🔻CMS Info Systems
🔻Network 18 Media
🔻Mahindra Holidays
🔻Aurionpro Solutions
🔻V.S.T. Tillers Tractors
🔻HDFC Life Insurance
🔻Indiamart Intermesh
🔻Saint-Gobain Sekurit
🔻CIE Automotive India
🔻ABM Knowledgeware
🔻Suraj Estate Developers
🔻Tata Consumer Products
🔻Bikaji Foods International
🔻SBI Life Insurance Company
🔻Taneja Aerospace & Aviation
🔻ICICI Lombard General Insurance
- September 10, 2026 08:20
3 FRESH SECURITIES ADDED TO F&O SEGMENT FROM OCTOBER SERIES
1. SIEMENS ENERGY
2. UJJIVAN SFB
3. ANAND RATHI WEALTH
- September 10, 2026 08:20
ALL-TIME HIGH BREAKOUT ALERT: SEPTEMBER 9, 2026
16 Stocks Ended the Day Above Their Previous All-Time Highs
💠Shanti Gears
💠Wheels India
💠Novartis India
💠SML Mahindra
💠Sai Life Sciences
💠ASM Technologies
💠Sansera Engineering
💠Sterlite Technologies
💠Bhartiya International
💠Craftsman Automation
💠India Nippon Electricals
💠Antelopus Selan Energy
💠ESDS Software Solution
💠Artemis Medicare Services
💠Spectrum Electrical Industries
💠Chennai Petroleum Corporation
- September 10, 2026 08:19
Jefferies - Vodafone Idea - Answering the turnaround call | Initiate at BUY
VIL offers high-beta turnaround opportunity in Indian telecom. We expect subscriber stabilization to support an 11% revenue CAGR over FY26-29 which along with strong operating leverage will drive a 25% cash EBITDA CAGR and a sharp ROIC inflection through FY31. VIL’s premium multiples should sustain during the turnaround. With every 10% tariff hike potentially driving c.34% equity upside, we initiate with BUY and Rs20 PT, albeit with execution and funding risks.
Subscriber turnaround to drive growth uptick: VIL’s network investments are already driving down churn and will likely drive down churn further and also boost gross subscriber additions, which in turn should drive a turnaround in subscriber additions from FY28. This should improve the translation of tariff hikes into revenue growth for VIL. Moreover, VIL’s lower share data subscribers offers higher scope for subscriber premiumization. We forecast 11% revenue CAGR over FY26-29, driven by subscriber stabilization, premiumization and tariff-led ARPU growth, helping sustain revenue market share.
Operating leverage to drive 25% CAGR in cash EBITDA: Over FY26-29, we expect Vodafone Idea to deliver a 840bps expansion in cash EBITDA margins to 29% primarily driven by operating leverage. Our assumptions imply incremental Ebitda margins of ~50% over FY26-29 - which is lower than the 60%+ margins for telcos considering the accelerated network rollouts during this period. We expect incremental EBITDA margins to rise further to 60%+ from FY30 once network rollouts normalise. This should enable VIL to deliver 25% CAGR in cash EBITDA over FY26-31.
Solving for VIL’s cashflow pressures: While VIL’s operating cashflows will grow at a steady pace, its cash outflows will rise sharply to Rs400bn+ annually during FY29-34 driving a temporary cashflow mismatch over this period. While the Rs250bn debt raise will be sufficient to tide over FY27-29, VIL will need Rs160bn fresh equity infusion in FY30 which will also trigger conversion of spectrum liabilities worth Rs153bn to equity by the Govt. This shall be sufficient to cover the cashflow shortfall over FY30-34. Given that VIL has raised equity of Rs447bn since 2019, we believe raising another Rs160bn equity amidst improving operating cashflows and continued govt. support may not be that difficult.
High-beta turnaround play; Initiate at BUY: VIL is a high-beta turnaround story, supported by accelerating revenue growth, operating leverage, and tariff-led earnings expansion. Strong cash EBITDA margin expansion from depressed levels of 21% will not only drive a 25% CAGR in cash EBITDA over FY26-31 but will also drive an ROIC inflection from negative territory today to double digits by FY32. VIL is the most leveraged beneficiary of tariff hikes, with every 10% increase potentially driving ~34% equity value upside. Our Rs20 PT is based on 23x EV/Cash EBITDA - in line with its 5-yr average. Our investment thesis hinges on future tariff hikes and a required Rs160bn equity raise by FY30.
- September 10, 2026 08:04
Indian stocks likely to remain under pressure as crude oil, US yields rise
- September 10, 2026 08:02
Stocks in focus today: Indian Bank, Hindustan Zinc, Wipro, Shakti Pumps and more
- September 10, 2026 07:07
Rentomojo IPO: Renting growth, but buying in at a steep price
- September 10, 2026 07:04
Poonawalla Fincorp gets CRISIL AAA/Stable rating
Poonawalla Fincorp said CRISIL Ratings has reaffirmed its CRISIL AAA/Stable rating on its long-term bank loan facilities, enhanced to ₹19,785 crore from ₹15,285 crore. The rating agency also assigned CRISIL AAA/Stable ratings to ₹9,600 crore of subordinated debt and non-convertible debentures. Its short-term bank facilities and commercial paper were reaffirmed at CRISIL A1+. CRISIL AA+/Stable ratings on perpetual bonds were also reaffirmed.
- September 10, 2026 07:01
Juniper Green Energy commissions 75 MW wind-solar hybrid project
Juniper Green Energy Ltd said its wholly owned subsidiary Juniper Green Spark Ten Pvt Ltd has fully commissioned a 75 MW wind-solar hybrid power project, with the final 10 MW wind capacity commissioned on September 9, 2026. The commissioning was witnessed and confirmed by Maharashtra State Electricity Distribution Company Ltd (MSEDCL) officials, with the formal certificate expected shortly. Following the commissioning, Juniper Green Energy and its subsidiaries have an aggregate operational capacity of about 2,604 MWp and 500 MWh BESS.
Shares flat at Rs 261.50 on the NSE.
- September 10, 2026 06:45
India Inc taps corporate bond market amid liquidity surplus and rate hike concerns
- September 10, 2026 06:44
India’s merchandise exports estimated to grow 15% in April-August: Piyush Goyal
- September 10, 2026 06:44
India-BRICS trade: What the numbers show
- September 10, 2026 06:44
Hero Motors fixes IPO price band at ₹79-84; issue opens September 16
Published on September 10, 2026
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