A global bond market selloff has put the Federal Reserve’s rate decision under the spotlight, with investors weighing the risks of another hike against a pause. Persistent inflation, rising oil prices, fiscal deficits and elevated Treasury yields have heightened concerns over the term premium and the outlook for long-term borrowing costs.
The Rs 22,561.57-crore NSE IPO is set to open for subscription on September 17 and close on September 21, with the issue currently commanding an 11% grey-market premium, signalling strong investor interest. The IPO is entirely an OFS of 12.64 crore shares, with proceeds going to existing shareholders.
Hexaware Technologies shares rose sharply on Tuesday after the company partnered with Project NANDA Fellowship, a global programme focused on developing open-source infrastructure for AI agents. The three-month fellowship will bring together developers, including Hexaware engineers, to work on agent discovery, identity and secure coordination within an open, decentralised Internet of AI Agents.
Cochin Shipyard shares fell sharply for a second straight session after management indicated a lower EBITDA margin target for the next two financial years. Despite near-term pressure, the company retains strong order visibility, while its joint venture with Drydocks World could support ship-repair growth.
NSE’s IPO could deliver a massive windfall to 10 public-sector shareholders, which together could make a profit of around Rs 12,802 crore by selling their shares at the upper price band of Rs 1,785. State Bank of India stands to gain the most, with a potential profit of nearly Rs 2,849 crore, followed by The New India Assurance Company.
Indian IT stocks surged as calls for a slower pace of frontier AI development eased concerns over disruption to traditional software services. The Nifty IT Index gained 5% on Tuesday, adding Rs 1.13 lakh crore in market value, while power and infrastructure stocks tied to AI buildout declined sharply, highlighting a shift in investor positioning.
The US Federal Reserve is widely expected to raise interest rates by 25 basis points on Wednesday, taking the benchmark rate to 3.75%-4.00%, as stubborn inflation and oil prices above $100 a barrel strengthen the case for tighter monetary policy.
Goldman Sachs Asset Management, Franklin Templeton and Fidelity International are among global investors expected to participate as anchor investors in NSE’s IPO. Norges Bank Investment Management, Abu Dhabi Investment Authority, GIC, Millennium Management, Marshall Wace and Citadel Capital are also likely to subscribe. The exchange is preparing to raise up to Rs 22,600 crore through the issue.
Hero Motors’ Rs 1,000-crore IPO opens on September 16 with a price band of Rs 79–Rs 84 per share. Its Rs 23 grey market premium suggests a potential 27% listing gain, while fresh proceeds will support debt repayment, capacity expansion and acquisitions.
HDFC Bank shares rose after the lender submitted two CEO candidates to the RBI, formally starting the succession process for Sashidhar Jagdishan. The stock has faced sustained pressure this year, with analysts highlighting key resistance levels and management continuity as important triggers.
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