Derivatives Slowdown Hits Brokers
BSE, Angel One and other brokers witnessed a sharp 40–60% drop in derivatives revenue amid regulatory changes and muted trading activity. Active monthly traders fell from 30–40 lakh to nearly 20–22 lakh. NSE Chairman noted that India’s derivatives market remains much smaller than the US, with earlier volume surge partly driven by STT loopholes.
Welspun Enterprises Emerges L1 for ₹10,635 cr Projects
Welspun Enterprises became the lowest bidder for two major infrastructure projects — a ₹7,300 cr six-lane highway (Pune–Shirur, NH-753F) under MoRTH and a ₹3,145 cr 910 MLD water project in Maharashtra with Veolia. The board will meet on 15th Oct to consider fundraising via convertible warrants.
Ashiana Ispat Declared NPA by Multiple Banks
SBI, Yes Bank and Kotak Mahindra Bank classified Ashiana Ispat’s accounts as NPAs. The board reviewed restructuring discussions, legal updates, and a proposal to shift the corporate office to Ansal Plaza, Delhi. Anand & Anand Associates appointed for IP litigation.
Auto Sector Q2 Preview — Tractors Lead Growth
ET Now reports tractor sales likely to grow 32% YoY, led by strong rural sentiment and festive demand. Two-wheelers to post double-digit growth; PVs and CVs may remain flat. Tata Motors JLR expected to show weaker performance due to a planned shutdown.
Readymix Construction Bags ₹4 cr Raipur Project
Readymix Construction signed an MoC with Aquaproof Wallcare for a ₹4 cr, 30 TPH plant at Raipur. This marks their third collaboration after projects in Alwar and Asangaon.
Signature Global H1FY26 Sales at ₹46.5 bn
H1FY26 pre-sales fell 21% YoY to ₹46.5 bn, while Q2FY26 saw a 28% YoY drop to ₹20.1 bn. Collections rose 2% YoY to ₹9.4 bn, with realisations improving 20% to ₹15,000 per sq ft. Sohna land acquisition supported pricing gains.
Adani Enterprises
Supreme Court issued a notice to Adani Enterprises over a customs department plea challenging a tribunal order.
Tourism Sector Outlook
Tourism industry expected to grow at over 25% CAGR, according to Union Minister Shekhawat.
Safe Enterprises Expands Manufacturing Space
Safe Enterprises added 6,500 sq. ft. of new production area, taking total space to 96,506 sq. ft., boosting capacity and warehousing operations.
Kotak Mahindra Bank Completes Microfinance Merger
Sonata Finance merged with BSS Microfinance post NCLT approval, consolidating Kotak’s microfinance operations under one entity.
BPCL-Reliance BP Mobility JV for CNG & City Gas
BPCL and Reliance BP Mobility announced a partnership to expand India’s CNG and city gas network, targeting 15% share for natural gas in the energy mix by 2030.
Asian Paints Begins White Cement Production in UAE
Asian Paints’ subsidiary Asian White Inc. FZE began operations at its Fujairah plant with a capacity of 2.65 lakh TPA. The JV aims to export white cement globally through Dubai IFSC.
Senco Gold Expands Retail Network
Senco Gold opened a new franchise store in Etawah, Uttar Pradesh, taking total store count in India to 184.
Brokerage Views
Nuvama on DMart — Buy, TP Rs. 4,580
Cut FY26/FY27 revenue estimates by 0.8%/1.7% and profit by 6.6%/3.6%. CWIP at Rs.1,500 cr suggests strong store additions. DMart Ready growth slowed to 16% YoY. Ceased operations in five cities during Q2.
Investec on Adani Ports — Buy, TP Rs.1,715
Operates 17 ports/terminals with growing logistics exposure. Net debt-to-equity at 0.6x (Mar 25), projected to be negligible by FY30. International volume expected to expand over 5x between FY25–30.
Lodha Developers
Acquired a land parcel in MMR for a Rs.2,300 cr housing project, meeting FY26 target of Rs.25,000 cr potential revenue from new land deals.
IRB Infra Boost from New BOT Mandate
Government to mandate BOT model for projects with >15% returns, using FASTag-based traffic data. Move to favour established BOT developers like IRB Infra.
Jyoti Ltd Bags ₹10.91 cr Order
Received order from Nand Infrastructure for 18 VT pump sets for NWR Tharad–Dhanera Lift Irrigation Project. Delivery in 6–7 months.
Vedanta’s BALCO Starts Output at 525 kA Smelter
BALCO began metal production from India’s largest 525 kA aluminium smelter at Korba, part of its 1 MTPA expansion. This cements Vedanta’s leadership in domestic aluminium production.
Nifty50 Valuation Snapshot (CY Closing P/E)
2009: 22.7 | 2010: 23.8 | 2011: 17.3 | 2012: 18.6 | 2013: 18.5 | 2014: 21.2 | 2015: 21.1 | 2016: 21.4 | 2017: 26.4 | 2018: 26.0 | 2019: 28.1 | 2020: 37.2 | 2021: 23.6 | 2022: 22.0 | 2023: 22.6 | 2024: 22.2 | 2025: 22.4 (till date)
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