VRIGHT Exchange – Daily Digest | Corporate and Economy Update for September 10, 2025

Market Overview & Sentiment
• Pre-market cues: GIFT Nifty futures indicate a positive open, with levels pointing towards 25,000 resistance and 24,700 support as near-term technical markers.

• Equity performance: On Tuesday, Sensex climbed 314 points (0.39%) to 81,101, while Nifty gained 95 points (0.39%) to close at 24,869. IT stocks led the rally, supported by Infosys’ buyback proposal, alongside strength in banking and consumer discretionary.

• Currency trends: The rupee hovered near ₹88/USD, facing pressure from global tariff concerns, even as expectations for a U.S. Federal Reserve rate cut provided partial relief.

Macro & Global Cues
• Services momentum: India’s Services PMI surged to 62.9 in August — a 15-year high — while Composite PMI touched 63.2, supported by strong export orders and domestic demand.

• Manufacturing surge: The manufacturing PMI hit its fastest pace in over 17 years, highlighting robust order books and rising input cost pressures.

• Global backdrop: U.S. Non-Farm Payrolls data came in below estimates, fueling expectations of a Fed rate cut as early as September. Global equity sentiment remains constructive.

-Sector Highlights

– IT & Tech
• IT index rallied nearly 3% on Tuesday, with Infosys driving momentum after its share buyback proposal. Technology remains sectoral leader in near-term market performance.

-Autos & Consumer Durables
• Auto stocks are at 11-month highs as companies pass on GST benefits to customers, triggering meaningful price cuts ahead of festive demand.

-Renewables & Clean Energy
• Solar and renewables names, including Vikram Solar and Sterling & Wilson, remain in focus with strong earnings momentum and expanding project pipelines.

-Pharmaceuticals & Healthcare
• Sun Pharma is under pressure as the USFDA has placed its Halol facility under import alert, restricting shipments into the U.S.

Policy & Regulatory Notes
• SEBI fast-tracks IPOs: New regulatory reforms aim to shorten approval timelines to ~3 months, supporting a record fundraising pipeline in 2025.

• GST 2.0 rollout: The recent tax rate cuts are expected to directly boost household savings and discretionary demand, positioning consumption as the key driver for the next growth cycle.

• Trade dynamics: Ongoing tariff concerns create headline risks, though constructive U.S.–India trade dialogue offers some support to investor sentiment.

What to Watch Next
• Infosys board meeting (Sept 11) — clarity on buyback size and timeline.

• U.S. Federal Reserve meeting (Sept 16–17) — key trigger for global capital flows.

• GST Council rollout — market to monitor corporate price adjustments and rural demand revival.

M&A, Stake Sales & Investments

Cupid: Entered into a term sheet to acquire a strategic stake in Saudi Arabian luxury fragrance brand Mansam (founded 2022).

HEG: Associate Bhilwara Energy acquired the remaining 49% minority stake in Malana Power Company from Statkraft, becoming sole owner. Approved preferential allotment of 1.7 crore shares at ₹142.08/share to Singularity Growth Opportunities Fund II and others.

Indef Manufacturing: Completed acquisition of 80% stake in Daedalus Lift & Access Equipments for ₹5 crore.

Kotak Mahindra Bank: Sumitomo Mitsui Banking Corp to exit via a ₹6,166 crore open market deal. Will sell 3.28 crore shares (1.65% stake) at ₹1,880/share (4.1% discount to CMP ₹1,960.4).

BlueJet Healthcare: Promoter Akshay Bansarilal Arora to sell 3.42% stake via OFS on Sept 10–11, with an additional 3.42% under oversubscription.

Corporate Announcements

Bajaj Auto: Passing full GST cut benefit to customers; price reductions up to ₹20,000 (two-wheelers) and ₹24,000 (three-wheelers).

Eicher Motors (Royal Enfield): Passing on GST cut benefits; price cuts up to ₹22,000 across 350cc range.

Mamata Machinery: Received second export order worth $1.17 million for a 9-layer blown film plant in its Co-Extrusion segment.

Muthoot Capital Services: Redeemed commercial papers worth ₹15 crore.

Maruti Suzuki: To commence production of flex-fuel vehicles this fiscal, per parent Suzuki Motor Corp.

Mahindra & Mahindra: August exports rose 15% YoY to 3,575 units; overall sales down 1% YoY at 74,027 units.

Huhtamaki India: CFO & Executive Director Jagdish Agarwal resigned, effective Dec 1.

Sri Lotus Developers: Appointed developer for a new ultra-luxury re-development project at Bandra West, Mumbai (near Bandstand Promenade).

Regulatory & Legal Updates

Sun Pharma: US FDA classified Halol facility as “Official Action Indicated”; remains under import alert, impacting US shipments.

Godrej Properties: Arbitration award on Nagpur Project Anandam case — majority of ₹1,366 crore claim rejected; ₹240.8 crore partially allowed. Company to challenge in Bombay HC.

Bikaji Foods: MD summoned by Enforcement Directorate in connection with Rajasthan Premier League probe under PMLA, 2002.