VRIGHT Exchange – Daily Digest | Corporate and Economy Update for Tuesday, September 9, 2025

. Markets & Sentiment
• Market open/flow: Benchmarks opened higher on stronger U.S. rate-cut hopes after softer U.S. job data; Nifty traded up ~0.4% early and Sensex gained similarly. Mid- & small-caps edged up; IT led the rally on stock-specific strength.

• Stock to watch: Infosys jumped after announcing it will consider a share-buyback; keep an eye on the buyback size and record/expiry dates.

Macro & Policy
• U.S. labour shock: U.S. Non-Farm Payrolls for August came in much weaker than expected (22k vs ~75k) — lifting Fed-cut odds and supporting EM flows. This is a key driver for FPI sentiment into India.

• Domestic growth & inflation: Q1 FY26 GDP at 7.8% continues to underpin growth optimism, though some economists caution deflator effects and sustainability. GST rationalisation is providing a near-term demand cushion, per market economists.

Global Cues
• Fed expectations: Weaker U.S. payrolls have increased pricing for a Fed cut in September, improving risk appetite for EM assets — a key positive for India if sustained.

• China & commodities: Continued monitoring of China demand (steel/metals) and OPEC+ signals for oil; metals and auto ancillaries remain sensitive to those moves.

Regulatory & Policy Notes
• GST 2.0 follow-through: Markets see GST rationalisation as a near-term consumption boost; keep watching implementation details and state clarifications — these determine margin pass-through and durable goods demand.

• Settlement/calendar alert: Be mindful of earlier RBI calendar adjustments (holiday/settlement shifts) when planning trades and corporate actions.

Corporate Highlights

Financials / Capital Markets
• Infosys buyback news + SBI $500m bond issuance last week remain desk headlines; watch any follow-through in financials/IT flows.
Autos

• Auto stocks continuing to benefit from GST cuts and announced price resets across OEMs; Tata Motors and others remain in focus for volume and pricing execution. Analysts flag Sept 22 as important (effective date for some price changes).

Energy & Renewables
• Renewables/clean energy names are in focus as markets price in policy tailwinds; Inox Clean Energy and peers remain watchlisted ahead of their IPO/earnings cadence.

Consumer & Retail
• GST rationalisation lifts visibility for FMCG, durables and insurers. Street is repositioning into consumer staples and select discretionary names ahead of the festival season.

Corporate– Key Highlights
• TVS Motor Company: Announced it will pass on the full benefit of GST rate reductions to customers across its internal combustion engine (ICE) portfolio, following recent GST Council reforms.

• Quality Power Electrical Equipments: Subsidiary Endoks Enerji Anonim Şirketi secured two significant European orders worth ~₹75.2 crore for supplying its FACTS system to a steel plant.

• Dish TV India: Subsidiary Dish Infra Services has entered the integrated Smart TV market with the launch of “VZY” branded smart televisions.

• Medi Assist Healthcare: Shareholders approved a preferential issue of 37 lakh equity shares to Massachusetts Institute of Technology and 238 Plan Associates LLC, raising ₹198 crore. Funds will be used for subsidiary debt repayment (₹150 crore) and general corporate purposes (₹48 crore) within two years.

• Craftsman Automation: Made a strategic investment of ₹2.6 lakh for a 26% stake in Eastsquare Energy, engaged in power generation and transmission.

• GlaxoSmithKline Pharmaceuticals: Received two orders from Maharashtra GST authorities for alleged non-payment of GST on export of services.

• IRB Infrastructure Developers: Reported a 12% YoY rise in toll revenue to ₹563 crore in August 2025 (vs. ₹503 crore in August 2024).

• HUDCO (Housing and Urban Development Corporation): Signed a non-binding MoU with the Nagpur Metropolitan Region Development Authority to provide up to ₹11,300 crore in funding over five years.

• Strides Pharma Science: Entered into a strategic product development partnership with Kenox Pharmaceuticals to expand its nasal spray portfolio in the U.S. market.

• Karur Vysya Bank: Expanded footprint with new branches in Coimbatore (Seraiyampalayam Road, Neelambur) and Madurai (Nedungalam Main Road, Chinthamani).

• Avantel: Secured an amended purchase order worth ₹9.9 crore from the Department of Atomic Energy.

• Rail Vikas Nigam (RVNL): Notified that its proposal to form a wholly owned subsidiary was not approved by the Department of Investment and Public Asset Management.

• Morepen Laboratories: Subsidiary Morepen Medipath signed a joint venture agreement with Bimedical FZE to form a new JV company.

• Godrej Consumer Products: Subsidiary PT Godrej Consumer Products commenced construction of a new manufacturing facility at Kendal, Indonesia.

• NDTV: Board approved a rights issue to raise up to ₹396.5 crore by issuing 4.8 crore fully paid-up equity shares at ₹82 per share.

What to watch next
• Infosys board meeting (Sept 11) — details on buyback size, record date.

• Earnings & guidance flow for mid-caps — earnings recovery is needed to sustain the rally (analyst view).

• U.S. Fed commentary and Sep 16–17 FOMC — any change in cut expectations will swing global flows.