- 50th AGM of Pennar Industries highlights: 1) Management targets Rs.10,000 cr. revenue versus current Rs.3,600 cr., supported by large addressable markets across its five focused business verticals in India and the USA. 2) Major capex is largely complete, while order books across PEB India, PEB USA, Engineering Services, BIW, Boilers and Hydraulics remain at all-time highs. 3) Execution and capacity utilisation are improving, with the impact expected to reflect from Q2 numbers. 4) Management remains focused on margins and even declined a Rs.150 cr. PEB India order due to an unsuitable margin profile. 5) The new BIW plant is expected to double segment revenue while maintaining good margins. 6) USA Engineering Services, a high-margin business, is currently at a Rs.70 cr. run rate, with guidance of Rs.100 cr. this year. 7) The company plans to monetise non-core land assets, which could potentially fetch Rs.500-700 cr. 8) At CMP, Pennar Industries trades at ~12-13x current-year earnings and below 10x next-year earnings, with multiple business verticals offering growth potential.
- Nomura Research: Nomura expects moderation in corporate earnings growth as input-cost pressures have yet to fully reflect in margins. Earnings estimates could face cuts if crude stays around $100-110/bbl, while geopolitics and AI remain long-term concerns. Nomura remains constructive on IT stocks.
- Nifty tracking one of its weakest years: Nifty 50 has fallen sharply in 2026, with September marking its worst monthly performance since March as rising crude, global rates and FPI outflows weighed on markets. The index fell 6.1% in September, while the Sensex declined 5.8%.
- Nilesh Shah, Managing Director, Kotak Mahindra AMC, has called for a better equilibrium between STT and capital-gains taxation, noting concerns around the combined burden on market participants.
- Astro tension: Rahu remains in Dhanishta nakshatra until 5th December 2026 and Saturn is retrograde until 11th December 2026. As per the astrology view, this could mean higher volatility and sudden market moves. Traders may prefer lower leverage, avoid overtrading and focus on capital protection until December.
