Five railway multitracking projects worth around Rs 10,021 crore have been approved across South India, adding about 540 km to the Indian Railways network. Three more projects worth Rs 10,783 crore were cleared across five states. The projects are expected to boost rail capacity, ease congestion, improve connectivity and support incremental freight movement over the coming years.
Thursday marked a mixed start for Indian benchmark indices in light of previous losses. The Sensex dipped, while the Nifty edged up slightly. The performance across broader markets reflected this divergence, with midcaps declining and smallcaps rising. Higher crude oil prices may challenge energy-sensitive sectors, while defensive sectors, particularly FMCG and pharmaceuticals, are expected to remain robust.
Jefferies has initiated coverage on Vodafone Idea with a ‘Buy’ rating and a Rs 20 price target, implying 29% upside. The brokerage expects subscriber stabilisation, tariff hikes and operating leverage to drive recovery, with cash EBITDA forecast to grow at a 25% CAGR through FY31. However, funding needs and execution remain key risks to the turnaround.
Four SME IPOs, Maharaja & Speedex India, Raksan Transformers, Panchatv Bharat and Om Galaxy, open today, with Maharaja & Speedex leading the grey market at 16%, followed by Raksan Transformers at 9%.
Ather Energy shares rose after Nomura raised its target to Rs 1,926, citing faster EV adoption, the Konarc launch and stronger growth prospects. The brokerage retained its Buy rating and raised its EV penetration forecast for FY30.
Kanohar Electricals IPO entered its final bidding day after being subscribed 10.22 times by Day 2. A 35% grey market premium and positive brokerage recommendations have boosted investor interest.
Six mainboard IPOs are in their second day of bidding, with subscriptions closing on September 11. The issues include Rentomojo, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payment & Identity Solutions, and Asset Reconstruction. Rentomojo is the largest, aiming to raise Rs 1,255.57 crore.
Apple’s entry into the foldable smartphone market could benefit Redington, a key Apple distribution partner in India and other markets. Analysts expect the launch to boost consumer awareness and confidence in foldables, although Samsung is likely to retain its dominance in the near term. IDC expects Apple to ship around 10 million units in the first 12 months.
Shakti Pumps shares surged nearly 12% after the company secured a Rs 216.64 crore order from MSEDCL to supply 10,000 solar water pumping systems across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana.
Gold and silver prices fell on MCX, with silver declining Rs 1,500 per kg and gold slipping to Rs 1.53 lakh ahead of key US inflation data. With rate-hike expectations elevated and geopolitical tensions adding volatility, analysts expect precious metals to remain choppy and recommend booking profits on existing positions.
Warning! Information Posting in this website is only for educational purpose. We are not responsible for losses incurred in Trading based on this information.