Corporate Update -3rd Oct 2025

• Lemon Tree Hotels: Opened a 111-room property in Andhra Pradesh; signed pact for a 52-room hotel in Haridwar; launched a 67-room hotel in Navi Mumbai; rebranded Delhi property.

• Adani Green Energy: Commissioned 50 MW solar + 31.2 MW wind projects at Khavda, Gujarat, raising total operational renewable cap…[Read more]

VRIGHT Exchange – Daily Digest | Corporate & Economy Analysis for Oct 3, 2025

Macro & Market Sentiment
• Markets opened positive tracking global cues but faced volatility ahead of a heavy IPO pipeline next week (~₹27,000 crore).
• RBI’s reform push continues to drive optimism, especially in financials and manufacturing-linked names.
•…[Read more]

Key Context & Market Status

Holiday Notice: Equity markets (NSE, BSE) are shut today for Gandhi Jayanti & Dussehra.

With markets closed, today’s session is a “rest day” — but macro, global, and regulatory moves could shape momentum when trading resumes.

FIIs on Oct 1 logged net outflows of ~₹1,605 Cr while DIIs bought ~₹2,916 Cr.

Key re…[Read more]

Fund House Recommendations — 1 Oct 2025

Cement & Infrastructure

CLSA on UltraTech Cement: Maintain Outperform; Target Price ₹14,700/sh. (Positive outlook, sector demand resilience)

Financials

CLSA on Muthoot Finance: Maintain Outperform; TP raised to ₹3,600/sh. (Positive – strong gold loan momentum)

CLSA on Manappuram Finance: Maintai…[Read more]

Stocks in News – October 1, 2025

Positives

Suryoday SFB: Received full ₹314 Cr claim from National Credit Guarantee Trustee Company.

Sri Lotus: Launched two projects with GDVs of ₹700 Cr & ₹300 Cr.

HUDCO: Sanctioned ₹92,710 Cr and disbursed ₹25,839 Cr H1 loans; Q2 disbursement up 43.6% YoY.

RITES: Signed pact with Etihad Rail to deepen coll…[Read more]

REGULATORY & APPROVALS

Lupin: USFDA nod for pediatric Rivaroxaban oral suspension.

PTC India Financial Services: BSE seeks clarification on board exits, governance.

RBI: Issues draft norms extending gold metal loan repayment to 270 days.
PRODUCT LAUNCHES

Epack Durable: Rolls out new domestic vacuum cleaner line.

CORPORATE…[Read more]

ORDER WINS

Atlanta: Bags ₹2,485 Cr Maharashtra expressway sub-contract from IRCON.

Adani Green Energy: Commences 408.1 MW Khavda (Gujarat) power project; total capacity now 16,486 MW.

Innovators Facade: Wins ₹93.77 Cr order from DLF for Chennai Downtown façade project.

CFF Fluid Control: Secures ₹11.69 Cr defence order for Navy’s P75 submarin…[Read more]

LEADERSHIP CHANGES

SKF India: Management reshuffle; new MD & CFO effective Oct 1.

Subex: Board transition with multiple independent directors stepping down.

VIP Industries: Multiple top-level exits including MD & ED.

CORPORATE Update

Indian Renewable Energy Development Agency (IREDA)

Q2 YoY: Loan sanctions jump 86% to ₹33,148 Cr vs ₹17,860 Cr.

Loan disbursements up 54% to ₹15,043 Cr vs ₹9,787 Cr.

Pfizer

Secures a three-year reprieve from US tariffs on pharmaceutical imports imposed by former President Trump.

Pharmaceutical Sector

Trump’s 100% tari…[Read more]

Market snapshot -1 Oct 2025

Global risk tone mixed-to-cautious: US political noise (funding/standoff), central-bank caution and fresh trade/tariff headlines kept sentiment choppy.

India: markets are watching today’s RBI/MPC window and the corporate earnings calendar; breadth tilted slightly negative early in the session and FIIs remain net s…[Read more]

IPO Returns Since Listing (as of Sept 30, 2025)

Severe Underperformers

Dreamfolks: -80%

Tata Tech: -44%

Muthoot Micro: -42%

TVS Supply: -40%

Ola Electric: -29%

Bajaj Housing: -27%

Sula Vineyards: -26%

Campus Active: -26%

Vedant Fashions: -25%

NTPC Green: -13%

Honasa: -12%

Delhivery: -10%

HDB Financial: -10%

Hexaware: -8%

Flat /…[Read more]

From Growth Engines to Red Zones: FMCG & IT in 2025

FMCG (Defensive No More):

PGHH: -9.17%

ITC: -15.14%

UBL: -22.49%

United Spirits: -22.53%

Colgate-Palmolive: -23.58%

Unimech: -30.06%

Varun Beverages: -32%

IT (Deep Correction):

Mphasis: -11.78%

LTIMindtree: -15.35%

Tech Mahindra: -16.84%

Coforge: -20.34%

Persistent: -21.52%

Wipro:…[Read more]

Top 10 Global Defence Companies & PE Ratios (as of September 30, 2025)

Lockheed Martin (US) – P/E: 27.23

Northrop Grumman (US) – P/E: 21.23

Raytheon Technologies (RTX, US) – P/E: 35.35

General Dynamics (US) – P/E: 21.45

Boeing Defence (US) – P/E: N/A (loss-making)

BAE Systems (UK) – P/E: 31.37

Thales (France) – P/E: 50.88

Safran…[Read more]

Brokerage Updates – September 30, 2025

Telecom & Towers

HSBC on Indus Towers – Initiate Reduce, TP ₹310
Growth muted with Airtel rollout slowing and Vi demand uncertain; lack of pricing power noted. Scenario analysis shows bull case already priced in.
Valuation: TP implies EV/EBITDA 5.4x FY26e & 5.2x FY27e.
Upside Risks: (1) Vi capital raise…[Read more]

Macro & Sentiment
• Oil: Extended decline on supply glut outlook; supportive for downstream OMCs.
• Gold: Topped $3,800 on U.S. shutdown fears; positive for gold financiers.
• F&O: Nifty Futures up marginally (0.02%); PCR climbed to 0.71 → bullish sentiment strengthening.

Trading & corporate housekeeping
• Listings / IPOs: Atlanta Electrica…[Read more]