Glass Wall Systems’ Rs 427.89 crore IPO will remain open from September 8 to September 10, 2026, with shares priced at Rs 172–182. Its 28% grey-market premium indicates strong listing expectations. The company plans to use Rs 60 crore for a new glass processing unit. With strong FY26 growth, analysts recommend subscribing for long-term investors.
Foreign investors turned net buyers in India, deploying Rs 49,830 crore across sectors in July and August, with consumer services, healthcare, consumer durables, financials and IT emerging as the biggest beneficiaries. The shift reflects stronger domestic growth, better-than-expected Q1 earnings and a stabilising rupee, while telecom, capital goods, power and select other sectors faced sustained selling.
Rentomojo, the furniture and appliance rental company, is gearing up for a significant IPO, poised to raise over one thousand crore rupees. Nitish Mittersain stands to gain immensely, potentially realizing a staggering 152-fold return on his investment through the sale of some shares. The firm intends to utilize the proceeds from the fresh issue for debt clearance and boosting operational capacities.
Defence stocks: The Defence Acquisition Council approved defence procurement proposals worth around Rs 1.10 lakh crore, with nearly 98% of purchases to be sourced from Indian companies. The move is likely to keep defence stocks such as HAL, BEL, Paras Defence, BEML and Astra Microwave in focus. The approvals cover requirements of the Army, Navy and Air Force.
The Securities and Exchange Board of India has taken a significant step by relaxing compliance regulations for foreign investors. Foreign Portfolio Investors (FPIs) who are exclusively investing in government securities will no longer be required to disclose their investor group details. This amendment follows a recent circular from the Reserve Bank of India, which abolished concentration limit requirements. The updated rules are in effect immediately, streamlining investment processes.
The BSE IPO index reached an all-time high, surging 35% in five months. Its SME counterpart also jumped 55%, marking a strong performance for recent listings. These gains significantly outpaced the broader market indices like Sensex and Nifty. However, the rally was concentrated, with a few stocks driving most of the gains. Retail and HNI investors are favoring fresh growth stories over established large-cap companies.
Oil prices climbed to a six-week high as US-Iran attacks on commercial vessels disrupted Strait of Hormuz shipping. Falling tanker traffic has heightened fears of a supply shock, with Goldman Sachs warning crude could reach $120 if attacks intensify.
Copper prices hit a record high as concerns over shortages outside the US boosted buying, while a weaker dollar supported metals. LME copper touched $14,533 a metric ton, surpassing its January peak. Falling Shanghai stocks and strong US inventories highlighted the growing divergence in global copper supplies.
The dollar’s share of global reserves has fallen, but a New York Fed study says the decline is concentrated among a few countries. Reserve shifts largely reflect individual needs, challenging claims of broad global dollar diversification.
Karan Bhagat acquired 1.3 lakh Novartis India shares for nearly Rs 22 crore. His firm Kyrush Investments sold an equal number of shares in the transaction. Novartis India also announced acquiring trademarks from Pfizer for Rs 1,250 crore. Earlier, Novartis AG agreed to sell its stake to a consortium. This deal excluded its innovative medicines business in the country.
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