VRIGHT Exchange | Daily Digest | Sector-wise Update | Thursday, September 4, 2025

Equity Markets & Sentiment
• Strong Opening: Sensex and Nifty futures surged over 1% on expectations that the GST restructuring will be foundational for consumer demand ahead of the festival season. Metals and auto indices rose, while IT lagged.

• Rupee Outlook: The INR is stable in the ₹88.06–88.10 range as global Fed cut optimism offsets tariff-driven pressure. Fiscal expansion and tax cuts bolster sentiment. Economic Developments

• GST Reform: GST Council approved consolidation from four slabs to two (5% and 18%) effective Sept 22, slashing rates on essentials and mid-tier goods—air conditioners, cars, soaps—to fuel discretionary spend and GDP growth over the next 4–6 quarters.

• Services Sector Boom: HSBC services PMI climbed to 62.9 in August—its highest in 15 years. Composite PMI (services + manufacturing) hit a 17-year high at 63.2, signaling broad-based momentum, but also rising input prices.

• Growth Snapshot: India’s Q1 FY26 GDP grew 7.8% YoY, led by consumption and public spending, though nominal growth lags—raising caution on near-term equity earnings outlook.

Sector Highlights
• Beneficiaries in Focus: Consumer-favored names such as Hindustan Unilever, Nestle, Blue Star, Voltas, Maruti Suzuki likely to gain from eased GST rates on daily-use items and mid-tier durables.

• Equity Picks: Nuvama Professional Clients Group flags Dabur, Bajaj Auto, and Amara Raja Energy & Mobility as strong buys given elevated consumption potential.

• Reliance Signals: Ambani reiterated plans for Jio IPO by mid-2026, AI JV with Google & Meta, and major expansions in retail, green hydrogen, and solar amid U.S. tariff headwinds.

Global & Strategic Cues
• Tariff Risks Easing? A U.S. court ruling questioned procedural legality of Trump-era tariffs, lifting risk sentiment—though tariffs remain in place until appeals are exhausted.

• Market Viewpoints: Former UK Treasury official Jim O’Neill sees India as a resilient emerging market that could outperform despite trade shocks; structural reforms offer buffers.

• Clean Energy Trends: India’s clean power generation rose ~20% in H1 2025, boosting renewable stocks and reducing reliance on fossil fuels.

Regulatory & Policy Watch
• Dividends Deadline: Today is the last chance to buy PSU stocks like ONGC, OIL, NTPC to qualify for upcoming ex-dividend payouts.

• SEBI Oversight: Authorities are finalizing tighter rules on equity derivative position limits and block trade transparency to curb volatility.

Corporate News
Muthoot Finance – Approved the settlement of $600 million senior secured notes due 2030.

Muthoot Microfin – Cleared plans to raise up to $15 million via bonds and ₹150 crore via NCDs.

Swiggy – Increased platform fee on food delivery orders to ₹15 (from ₹12).

Aptus Value Housing Finance – Promoter investor Westbridge may offload its 16.5% stake (82.3 mn shares) at ₹316 per share (~5% discount to CMP) via block deal.

Ester Industries – JV acquired land in Gujarat to set up India’s first Infinite Loop manufacturing facility.

Campus Activewear – Purchased land & building of Nainipanel Industries (Uttarakhand) for ₹74.75 crore to expand semi-finished goods & footwear assembly capacity.

Allied Blenders & Distillers – Received a tax demand order of ₹14.98 crore from the Asst. Commissioner of State Tax.

BHEL – Accepted LoI worth ₹2,600 crore from MB Power (MP) Ltd. for supply of BTG equipment to the 1×800 MW Anuppur Power Project.
Sundram Fasteners – CRISIL reaffirmed short-term debt & CP rating at CRISIL A1+.

Shoppers Stop – Subsidiary approved transfer of its entire holding in Pahadi Goodness Pvt Ltd for ≥₹3 crore.

Bajaj Hindusthan – Promoter Trust sold 3.11 crore shares (~₹67.84 crore) to pare debt.

Poly Medicure – Through arm RisoR Holdings BV (Netherlands), acquired 90% stake in PendraCare Group (Europe) for ₹188.5 crore, expanding its medical devices footprint in EU.

Epigral – CFO Sanjay Surendra Jain resigned, effective Sept 30, 2025.
RailTel – Secured ₹14.94 crore order from the Ministry of Home Affairs for IP-based CCTV SITC.

Carraro India – Received two show-cause notices (₹14.29 crore) from Customs for unpaid IGST, interest & penalties.

Steel Exchange India – To diversify into integrated logistics & infrastructure development, including acquisition, pooling & leasing of land for projects.

Asian Hotels – Appointed Arjun Raghavendra Murlidharan as Chairman of the Board, effective Sept 13, 2025.

UCO Bank – Received RBI approval to establish an IFSC Banking Unit at GIFT City, Gandhinagar.

IIFL Finance – Approved issuance of NCDs worth up to ₹250 crore via private placement

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