STOCK MARKET UPDATES 📈

SECTORS TO WATCH OMC, ONGC, Oil India, Oil Ancillaries, Crude Sensitives-West Asia Crisis-Brent Crude Above $96/bbl GIC, India Assurance, IFCI, LIC, SBI, Bank of Baroda-SEBI nod for NSE IPO HAL, BEL,Data Patterns, Tejas Networks, Avantel , HFCL- Decisions to overhaul about 40 Sukhoi-30 fighters of the Indian Air Force (IAF) and to acquire 2,500 Software Defined Radios (SDR) -- a Rs 5000 crore deal. (Defence Acquisition Council meet today) IGL, MGL and Gujarat Gas-Revision in gas allocation policies Molbio Diagnostics, Dhoot Transmission-Strong Q1 Banks- Nearly 80% of FCNR(B) inflows were routed through leverage. RVNL, Mazagon Dock, Texmaco Rail-Order wins

SUDARSHAN PHARMA: CO.ACQUIRES 9.50% STAKE IN BOSTON-BASED MEDTHERAPY BIOTECHNOLOGY SUPPORTING CAR-T CELL THERAPY MARKET ENTRY AND US ONCOLOGY SECTOR EXPANSION

US President Donald Trump says the US may hit Iran’s Pickaxe nuclear site very soon, adding that the US is carrying out intermittent strikes, targeting oil facilities and controlling the Strait of Hormuz

PSU Insurers Set for ₹7,200-Cr Windfall in NSE IPO Five government insurance companies may earn about ₹7,200 crore by selling a small part of their old NSE shares in the coming IPO. They bought the shares years ago for just ₹6.8 crore — a return of over 1,120 times. NSE will offer nearly 149 million shares (about 6% stake) at an assumed price of ₹1,800 each. Grey market premium has risen to ₹250-280 per share after SEBI nod. LIC, the biggest shareholder, is not selling.

US Energy Secretary Chris Wright says the biggest US military goal is to stop Iran’s energy exports, while stressing that Washington remains open to a deal with Iran and that military support is needed to ensure ships transit the Strait of Hormuz

SEBI Approves NSE IPO! Expected to raise around ₹30,000 crore (Valuation likely Rs 5-5.5lk cr) Making it one of the largest offerings in Indian market history. Entirely an Offer for Sale (OFS) of up to 14.89 crore equity shares (nearly 6% stake) by existing shareholders NSE will not receive any fresh proceeds. Proposed to be listed on the Bombay Stock Exchange (BSE) Alert- NSE IPO also received a no objection certificate from SEBI in August 2026. What Key Timelines To Expect Next? Price band likely on Sept.11 Tentative listing-3rd week of September Sources-To NDTV Profit What We Can Expect Till Sept.11? Soaring grey market premium in unlisted markets Grey market premium jump between 7-10% over weekend Positive reactions for GIC, India Assurance, IFCI, SBI, Bank of Baroda Updated Draft Red Herring Prospectus likely to be filed by NSE anytime now Src-Channel checks

OPENING CUES-Negative West Asia Conflict Intensifies Brent Crude Remains Above $96/bbl Hormuz Traffic Dips Lowest Since May Slower Than Expected US Payroll Numbers Gold Holds Drop On Fed Rate Hike Bets Nikkei Jumps On Tech Boost Chipmakers Gains On OpenAI New Model Launch China Announces Bank Liquidity Boost India Forex Reserves All-Time High At $741bn FII Shorts Unchanged At 89% FII Sellers In Cash Market For 2nd Day

Amara Raja Starts Paying Brand Royalty to Promoters Listed Amara Raja Energy paid ₹6.76 crore royalty in FY26 to the promoter family’s private company that owns the brand. The amount is 0.05% of revenue and 0.8% of profit. The listed firm has used the Amara Raja name for years, but this payment looks new and filings do not clearly explain the terms. More Indian family groups are now charging listed companies for use of their brand names.

STOCKS IN NEWS 07 SEPTEMBER 2026 34 POSITIVE | 30 NEUTRAL / WATCH | 10 NEGATIVE ## 🟢 POSITIVE NEWS — 34 STOCKS 1. Tata Motors: Launches €3.82 bn all-cash offer for Iveco Group. 2. Ceigall India: Gets ₹5,300 Cr LoI from REC Power Development. 3. RVNL: Wins ₹903 Cr Buxar Thermal rail-siding order. 4. RVNL: L1 bidder for ₹405 Cr East Coast Railway project. 5. Nykaa: Increases stake in Earth Rhythm to 24.2%. 6. ICICI Bank: RBI approves LIC stake increase up to 9.99%. 7. Power Grid: Wins ₹1,152 Cr Gujarat transmission project. 8. Indian Energy Exchange: August volume hits record 13.94 BU, up 20.2% YoY. 9. Bharat Forge: Thales partnership for indigenous rocket systems. 10. HAL: GE Aerospace ships three F404-IN20 engines. 11. Cipla: Partners Qilu Pharma for Keytruda biosimilar in US. 12. UltraTech Cement: Enters wires & cables with ₹1,800 Cr investment. 13. Sterlite Technologies: ₹3,000 Cr capex for 50% capacity expansion. 14. Avalon Technologies: Forms electronics manufacturing JV with Zollner. 15. Max Healthcare: To infuse ₹88 Cr into Kalinga Hospital. 16. HUDCO / IRFC: JCR upgrades ratings to A-/Stable. 17. Cemindia Projects: ICRA upgrades ratings to AA/Stable. 18. SAIL: India Ratings upgrades issuer rating to AA+/Stable. 19. Shriram Finance: Gets AAA/Stable rating for ₹5,000 Cr NCD programme. 20. GMR Airports: Existing NCD rating upgraded to AA-/Stable. 21. Jeena Sikho Lifecare: Expands Ayurvedic portfolio with new products. 22. Cohance Lifesciences: Plans $18 mn investment in two subsidiaries. 23. Diamond Power Infrastructure: Wins ₹76 Cr Gujarat cable order. 24. Lupin: USFDA approves Modafinil tablets; US market ~ $70.7 mn. 25. Brigade Enterprises: Hyderabad expansion with ₹2,700+ Cr revenue potential. 26. Mazagon Dock: Gets ₹118 Cr AI-based security systems order. 27. Texmaco Rail: Wins ₹131 Cr wagon orders. 28. Kabra Extrusion Technik: Gets Vietnam auto OEM nomination for battery packs. 29. NLC India Renewables: Wins 275 MW / 550 MWh Gujarat battery-storage project. 30. Greenlam Industries: To acquire 26% stake in captive solar SPV. 31. SBC Exports: Secures ₹29.5 Cr export orders. 32. Shankesh Jewellers: CRISIL outlook upgraded to Positive. 33. Eicher Motors: Launches Himalayan 440 at ₹2.29 lakh. 34. SIS: Raises Updater Services stake to 10%. ## 🔴 NEGATIVE NEWS — 10 STOCKS 1. RBL Bank: Faces ₹164 Cr GST demand notice. 2. Page Industries: Faces ~₹294 Cr Dubai court claim. 3. Cohance Lifesciences: USFDA inspection reports four Form 483 observations. 4. Carraro India: Faces ₹20.2 Cr IGST demand, interest & penalty. 5. Neogen Chemicals: Faces ₹6.97 Cr tax demand. 6. NAVA: One Odisha power unit to undergo 55–60 day maintenance shutdown. 7. Sundrop Brands: Fatal accident at Del Monte Hosur plant; line halted. 8. Adani Energy Solutions: GQG funds sell 1.63% stake. 9. Gland Pharma: Promoter stake sale via block deal. 10. Shreeji Shipping: Promoter selling shares. ## 🟡 NEUTRAL / WATCH — 30 STOCKS 1. AXISCADES Technologies: Plans ₹200 Cr NCD issue at 12.5% for Cloud Wave acquisition. 2. Goodluck India: Appoints Ashok Kumar Vashisht as Group CFO. 3. Shakti Pumps: Invests ₹11 Cr in subsidiary. 4. Paisalo Digital: Plans ₹180 Cr NCD issue at 12%. 5. TCS: HyperVault plans large-scale AI data centre campus in Telangana. 6. Precision Wires: Approves ₹150 Cr CCD issue. 7. Cantabil Retail: Ratings upgraded to A+/Stable and A1. 8. United Breweries: Bombay HC dismisses Revenue appeal; ₹21.9 Cr service-tax demand eliminated. 9. Great Eastern Shipping: ₹900 Cr buyback starts Sept. 4 at up to ₹1,530/share. 10. Piramal Finance: Drops proposed partial NCD redemption. 11. Canara Bank: Gets AA+/Stable AT1 rating; AAA/Stable issuer rating affirmed. 12. Phoenix Mills: NCLT approves merger of six step-down subsidiaries. 13. Thyrocare: Docon's 51.02% stake transferred to API Holdings. 14. CIE Automotive India: Acquires CIE Hosur shares for ₹120.8 Cr. 15. Cyient: Completes acquisition of US-based Tao Digital Solutions. 16. L&T: CRISIL reaffirms AAA/Stable NCD rating. 17. Godrej Properties: Ratings reaffirmed/upgraded across debt facilities. 18. HEG Advanced Materials: Composite scheme becomes effective. 19. Balu Forge Industries: Shareholders approve FCCB fundraising and borrowing-limit increase. 20. Jayaswal Neco: Clarifies no ownership or financial exposure to Datasetl. 21. Veranda Learning: Converts warrants worth ₹5 Cr into equity. 22. Lemon Tree Hotels: Signs two Bodhgaya hotel deals adding 145 rooms. 23. Prestige Estates: Says Turf View MahaRERA order has no material impact. 24. Manorama Industries: Plans ₹75 Cr infusion across overseas subsidiaries. 25. Bank of Maharashtra: Establishes $500 mn Euro Medium Term Note programme. 26. HFCL: Targets ₹500 Cr defence revenue in FY27 and >50% export contribution. 27. Studds: Expanding capacity and targeting ₹1,000+ Cr medium-term revenue. 28. GNFC: MD leadership change announced; formal handover pending. 29. EaseMyTrip: Continues expansion in international, mobility and Tier-2/3 markets. 30. SEAMEC: SEAMEC SWORDFISH resumes operations after maintenance.

OLA ELECTRIC: BOARD APPROVES UPTO RS 1500 CR FUND RAISING VIA EQUITY SHARES NOTE ; CO RAISED ₹ 780 CR FUNDS VIA QIP IN JUNE MONTH

OLA ELECTRIC: Resignation of Mr. Hyun Shik Park, Chief Operations Officer ( COO) Due To Personal Reason

MARUTI SUZUKI LAUNCHES NEW BALENO WITH LEVEL 2 ADAS PRICE STARTS ~₹6.10 LAKH •Maruti Suzuki launched the updated Baleno on September 5, 2026, with prices starting at around ₹6.10 lakh (ex-showroom); bookings are open at ₹11,000. •New Baleno introduces Level 2 ADAS and ventilated front seats, strengthening its safety and premium feature offering. •Powered by the Z12E 1.2-litre petrol engine producing 61 kW and 112.4 Nm torque. •Claimed fuel efficiency stands at 23.80 km/l for manual (+6.4%), 24.77 km/l for AGS (+7.9%) and 33.61 km/kg for S-CNG (+9.8%). •Safety equipment includes six airbags, ESP, ABS with EBD and tyre-pressure monitoring system.

🚨 *SBI Expansion Update* 🏦 *State Bank of India (SBI) Chairman C.S. Shetty said the bank plans a major expansion in FY27.* 🔹 *11,000–12,000 new employees* to be hired across Clerical & Officer cadres. 🔹 *200–250 new branches* to be added (net basis) across India. 📈 The expansion highlights SBI's continued focus on strengthening its workforce and branch network to support future growth.

SUNDRAM FASTENERS | NON-AUTO PIVOT THE STRATEGIC SHIFT - Sundram Fasteners is gradually shifting revenue away from its core Indian auto OEM fasteners & powertrain parts business. - Existing book is ~₹6,000 Cr, with significant exposure to domestic auto and ICE powertrain. - Focus is shifting toward Wind + Aerospace + Railways — engineered, qualification-heavy non-auto businesses. 🌬 WIND | LARGEST NEW VERTICAL - Current revenue: ₹25–30 Cr/month (~₹350 Cr annualised). - Management is building capacity toward ₹500 Cr revenue. - Planned capex: only ~₹100 Cr. - Existing forging and machining capabilities are being leveraged rather than building an entirely new greenfield setup. ✈️ AEROSPACE | HIGH-VALUE OPTIONALITY - FY26 revenue: ₹50 Cr. - FY27 target: ₹100 Cr+. - 2–3 year target: ~₹500 Cr. - Qualification-heavy aerospace products can support better economics and create long-term customer relationships. 🚆 RAILWAYS - Current revenue: ₹2–3 Cr/month. - Target: ~₹100 Cr annually. - Adds exposure to railway and infrastructure capex rather than depending solely on automobile demand. MARGIN EXPANSION - Wind, aerospace and rail products are typically lower-volume and qualification-heavy. - Pricing is driven more by engineering value than recurring OEM cost-down pressure. - Potentially structurally better margins than commodity fasteners supplied to large domestic auto OEMs. DE-CYCLICALISATION - Domestic auto remains cyclical, while a significant portion of the existing business is linked to ICE powertrain. - EV penetration creates a long-term risk for traditional engine-related components. - Wind and rail are driven by energy/infrastructure capex cycles, while aerospace benefits from multi-year global backlogs. - This can gradually reduce dependence on the domestic automobile cycle. CAPITAL EFFICIENCY - Wind provides a potential ₹500 Cr revenue opportunity against only ~₹100 Cr capex. - The strategy is to monetise the existing forging, machining and manufacturing base across new end-markets. - This creates the possibility of strong incremental returns without heavy greenfield investment. GLOBAL CUSTOMER DIVERSIFICATION - Wind and aerospace have greater exposure to global OEM customers. - Higher exports can diversify the revenue base. - Reduces dependence on a concentrated set of domestic automotive accounts. KEY TAKEAWAY - The important story is not just growth in Sundram Fasteners' existing auto business. - The bigger structural opportunity is the mix shift from commodity/ICE-linked auto components toward higher-value Wind + Aerospace + Railways. - If execution continues, the company could become less cyclical, more export-oriented and structurally higher-margin over time.

ELANTAS BECK INDIA | ELECTRIFICATION + SPECIALTY CHEMICALS BUSINESS OVERVIEW - Makes specialty chemistry that protects electrical equipment — wire enamels, insulating varnishes & resins, casting/potting compounds and electronic materials. - Applications span motors, transformers, generators, pumps, appliances, automotive electronics, EVs and other electrical systems. - CY25 revenue mix: Electrical Insulation ~81% | EERM ~19%. STRONG MOAT & PRICING POWER - Products are often a tiny part of the customer's total cost but are critical for equipment reliability. - Failure of insulation can result in failure of the entire motor/electrical system. - Products are qualified into customer manufacturing processes and can also be specified by OEMs. - High cost of failure + qualification requirements + technical support = strong switching barriers. - CY25 gross margin improved 36.9% → 38.1%, while EBITDA margin increased 19.3% → 20.3%, despite raw-material inflation. EERM | HIGH-MARGIN MIX SHIFT - EERM contributed only 19.4% of CY25 revenue but around 29% of segment profit. - Higher margins make EERM an important driver of potential future mix improvement. - Key thesis: gradually reduce dependence on conventional electrical-insulation products and increase exposure to differentiated, higher-value materials. TECHNOLOGY & PRODUCT EXPANSION - Started manufacturing 22 products acquired from Von Roll India, adding high-voltage resin and tape technologies. - Absorbing global ELANTAS technologies including: - VOC-free unsaturated polyester resin. - High-voltage epoxy impregnating resin. - Thixotropic epoxy resin for high-voltage wind generators. - Expands the portfolio toward more specialised electrical and high-voltage applications. EV + BESS + POWER ELECTRONICS - Developing potting materials and thermal-interface materials for battery systems. - Global R&D project for a high-thermal-conductivity adhesive for BESS targeted for absorption in 2027. - Electrification increasingly requires advanced insulation, thermal management, protection and reliability — areas where ELANTAS is building capabilities. CAPACITY EXPANSION - Approved ₹56 Cr Ankleshwar expansion. - Plans to double solvent-recovery capacity. - Working toward a new greenfield manufacturing facility at Bharuch. - Additional capacity can support the company's expanding product pipeline. CTC | POWER TRANSMISSION OPPORTUNITY - CTC (Continuous Transposed Conductor) is used in high-power transformers. - ELANTAS was able to scale CTC manufacturing within around 3 months when demand surged. - Provides exposure to the growing transformer and power-transmission investment cycle. THE BIGGER TRANSFORMATION - The story is not simply: India electrification → more wire enamel → more revenue - The broader evolution is: Core Insulation → High-Voltage Materials → Electronics → EVs → BESS → Advanced Power Transmission - ELANTAS is attempting to move up the value chain by combining existing customer relationships, technical know-how and the global ELANTAS technology platform. KEY THING TO WATCH - Electrical Insulation still dominates the business. - The key question is whether EERM and other higher-value applications can become a materially larger share of revenue and profit. - Successful execution could reposition ELANTAS from a conventional insulation-chemical manufacturer toward a high-value materials partner for electrification, power infrastructure, electronics, EVs and energy storage. Must JOIN @Fundamental3

🪙 GOLD RISES ~75% OF THE TIME WHEN US DOLLAR FALLS • 📊 Historical data shows gold has risen nearly 75% of the time when the US Dollar declined. • 💵 The relationship between gold and the US Dollar has typically been inverse. • 📈 Dollar weakness can provide a tailwind for gold, potentially supporting higher gold prices. • 🔎 The historical relationship is not absolute, but a weaker dollar has generally been a supportive factor for gold.

🪙 GOLD LEAVES US VAULTS AS EUROPEAN CENTRAL BANKS RETHINK RESERVE STORAGE • 🇪🇺 European central banks are reassessing where they store their gold reserves, with a growing preference for keeping bullion closer to home. • 🇳🇱 The Netherlands reportedly moved around 86 tonnes of gold from North America to London. • 🇫🇷 France has also shifted gold from New York back to Europe. • 📦 The moves highlight a broader trend of European central banks reviewing the location, security and accessibility of their gold reserves.

GLOBAL BILLIONAIRE WEALTH HITS RECORD $15.1 TRILLION AS AI BOOM FUELS FORTUNES

INDIAN RICE EXPORT PRICES HIT 1-YEAR HIGH AS WEAK MONSOON FUELS SUPPLY CONCERNS