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Shakti Pumps (India) Limited shares jumped as much as 12% in early trade on 10 September 2026, after the company disclosed a ₹235.92 crore order from Maharashtra’s state power distribution utility to supply 10,000 solar water pumps under a farmer irrigation scheme.

What Triggered the Rally in Shakti Pumps Shares

Shares of Shakti Pumps opened around 8% higher at ₹506.90 on the NSE on Thursday, against Wednesday’s close of ₹468.20. The stock extended its gains through the morning to touch an intraday high of about ₹524–525, a rise of up to 12% for the session.

Trading volumes were unusually heavy. More than 5.5 million shares had changed hands by mid-morning, making Shakti Pumps one of the most actively traded counters on the NSE that day.

The move was triggered by an exchange filing about a fresh order win from Maharashtra State Electricity Distribution Company Limited (MSEDCL), the state’s power distribution utility.

Inside the ₹235.92-Crore MSEDCL Order

Shakti Pumps has received a Letter of Empanelment from MSEDCL for 10,000 off-grid solar photovoltaic water pumping systems (SPWPS) across Maharashtra. An empanelment is an official approval that qualifies a company to receive work orders under a scheme it is a step before, not the same as, a confirmed, billable order.

The pumps will come in three capacities 3 HP, 5 HP and 7.5 HP. They are meant for the Magel Tyala Saur Krushi Pump Yojana, a Maharashtra government scheme that provides subsidised, off-grid solar water pumps to farmers so they can irrigate their fields during the day without relying on grid electricity.

The total order value is ₹235.92 crore, inclusive of GST. The basic work value, excluding GST, works out to ₹216.64 crore. Shakti Pumps’ scope covers the design, manufacture, supply, transportation, installation, testing and commissioning of the systems. The company has also clarified that none of its promoters or the promoter group have any interest in MSEDCL, and the deal is not a related-party transaction.

Execution Timeline and Key Conditions

The company must execute the order within 60 days of the work order or Notice to Proceed (NTP) being issued. That distinction matters: the empanelment sets Shakti Pumps’ eligibility and pricing terms, but actual revenue booking depends on when individual work orders are released and pumps are installed and accepted by MSEDCL.

Shakti Pumps’ Recent Run of MSEDCL Orders

This is not Shakti Pumps’ first solar-pump empanelment from MSEDCL in recent months. The company has now secured three such orders under the same scheme since December 2025:

Taken together, these three empanelments add up to over 41,000 solar pumps and more than ₹1,000 crore in cumulative order value from MSEDCL alone over roughly nine months.

About Shakti Pumps (India) Limited

Shakti Pumps manufactures pumps, motors, variable frequency drives (VFDs), inverters and controllers, with solar-powered pumping systems forming a key part of its business. Following Thursday’s rally, the company’s market capitalisation stood at more than ₹6,200 crore. The stock’s 52-week high is ₹915, against a 52-week low of ₹456.35.

What This Means for Investors Tracking the Stock

Order-win announcements like this one can move a stock sharply within a single session, as seen today. Investors who want to track such corporate disclosures and act on them need an active demat account and trading account with a registered broker, since shares can only be bought, held or sold through one.

For those who want to watch price moves in real time and place orders as they happen, a broker’s online trading platform is what allows that separate from simply reading the news.

As always with single-order announcements, the eventual financial impact will depend on how quickly work orders are issued and executed, not just on the headline order value.

This article is for informational purposes only and is not investment advice. Investments in securities are subject to market risk.

The ₹500 crore Prasol Chemicals IPO enters its final bidding session today, 10 September 2026. Retail demand has climbed toward full subscription through the first two days, while institutional bids, which typically arrive late in the window, remain the deciding factor before close.

IPO Snapshot: Key Dates and Numbers

Prasol Chemicals Limited, a specialty chemicals manufacturer incorporated in 1992, opened its mainboard initial public offering (IPO) on 8 September 2026.

The issue closes today and is a book-built offer worth ₹500 crore, split between a fresh issue of about ₹80 crore and an offer for sale (OFS) of about ₹420 crore by existing shareholders.

The reservation is split roughly 50 percent for qualified institutional buyers (QIB), 35 percent for retail individual investors, and 15 percent for non-institutional investors (NII, mainly high-net-worth individuals).

How Subscription Has Built Up Through the Three-Day Window

Demand has grown steadily since the issue opened, with retail investors leading the book while QIB and NII bids typically build closer to the deadline, a common pattern for mainboard issues.

By the Day 1 close, the retail portion had already reached 0.73 times its allotted quota, while the QIB book stood untouched at 0.00 times.

Retail demand edged further to about 0.93 times by late morning on Day 2, and overall subscription had climbed to roughly 0.76 times by mid-morning on the closing day.

QIB and large NII bids on mainboard issues often arrive in the final hours of trading. Today’s closing figures, due after the window shuts this evening, are likely to move meaningfully from the morning snapshot above. Investors can check the final, official numbers on the NSE and BSE websites once bidding ends.

Grey Market Premium Cools Sharply Ahead of Listing

The grey market premium (GMP) is an unofficial, unregulated indicator of investor sentiment, quoted informally outside the exchanges and not endorsed by SEBI, NSE, or BSE.

For Prasol Chemicals, third-party trackers have shown a sharp cooling trend through the bidding window. Quotes touched highs of roughly ₹120 to ₹165 per share in the days before the issue opened, then eased toward the ₹0 to ₹45 range by 8 and 9 September.

That implies an indicative premium of anywhere from about 0 percent to roughly 7 percent over the ₹676 upper band, depending on the tracker and the time of day. Because GMP figures vary widely between sources and change constantly, they should never be the sole basis for an investment decision.

Anchor Investors and the Business Behind the Issue

Ahead of the public issue, Prasol Chemicals raised close to ₹150 crore from anchor investors on 7 September 2026, allotting shares at the ₹676 upper price band.

The company manufactures more than 150 specialty chemical products built around acetone-based and phosphorus-based chemistries, spanning 21 acetone-based, 53 phosphorus-based, and 76 other specialty products.

Its products serve performance chemicals, paints and coatings, pharmaceuticals, agrochemicals, and home and personal care industries. The company serves over 1,600 customers across 69 countries and holds a Government of India 3 Star Export House certification.

For the financial year ended 31 March 2026, the company’s total income rose about 22 percent to ₹1,237.85 crore from ₹1,015.54 crore a year earlier, while profit after tax nearly doubled, up about 91 percent to ₹83.12 crore from ₹43.57 crore.

How to Apply Before Today’s Cutoff

• You will need an active demat and trading account with a SEBI-registered broker to bid; open one today if you don’t already have it, since the window closes this evening.
• Enter your bid within the ₹643 to ₹676 price band, in multiples of the 22-share lot, through your broker’s app or net banking platform.
• Submit the bid using the UPI-based ASBA method, so the bid amount is blocked in your bank account rather than debited upfront.
• Approve the UPI mandate on your phone promptly, well before today’s cutoff, since the issue will not reopen after this session.

What Happens Next

Allotment is expected to be finalised on 11 September 2026, and the shares are tentatively scheduled to list on the NSE and BSE on 16 September 2026.

Once listed, many investors track the stock through their broker’s online trading platform to decide their next move.

Investors are encouraged to review Prasol Chemicals’ financials and risk factors in the red herring prospectus on nseindia.com and bseindia.com, and to apply only after independent due diligence.

Investments in securities are subject to market risks. This article is for informational purposes only and is not investment advice.

Global gold ETFs attracted ₹1.7 lakh crore ($18 billion) in August 2026, the second-highest monthly inflow on record, World Gold Council (WGC) data shows. Indian gold ETFs added ₹2,472 crore during the month, taking 2026 inflows past ₹40,000 crore.

Note: ₹ figures in this article are converted at approximately ₹95 to the US dollar, the prevailing rate in early September 2026, and are indicative only.

Global Flows Hit Second-Highest Level on Record

Gold-backed ETFs worldwide added $18 billion in August 2026, the second-biggest monthly inflow in dollar terms since the WGC began tracking this data. The only bigger month was January 2026, when global gold ETFs added $18.7 billion, according to WGC data.

The August surge followed a modest July, when global gold ETF inflows totalled just $3 billion, reversing two straight months of outflows. Demand picked up sharply again across most regions in August.

North American funds brought in ₹73,150 crore ($7.70 billion) in August, their third-largest month on record.

European funds did even better. They added ₹74,860 crore ($7.88 billion), the region’s best month on record. The UK alone drew ₹41,800 crore ($4.4 billion), while France added ₹14,250 crore ($1.5 billion), its strongest month ever.

These flows pushed global gold ETF holdings up by 121 tonnes to a record 4,189 tonnes. Assets under management rose 16% during the month to roughly ₹58.4 lakh crore ($615 billion), the WGC said.

Source: World Gold Council, Gold ETF Flows report, data as of 31 August 2026.

China Leads Asia’s Gold ETF Rally

Asian gold ETFs added ₹19,380 crore ($2.04 billion) in August, their strongest month since February 2026. China accounted for most of this, with local funds adding ₹14,630 crore ($1.54 billion) during the month.

China’s year-to-date gold ETF inflows now stand at ₹74,670 crore ($7.86 billion), and local holdings rose by 10.7 tonnes to 292.7 tonnes. The WGC said stabilising local gold prices and lower government bond yields drew Chinese investors toward gold.

India’s Gold ETF Holdings Cross 121 Tonnes

Indian gold ETFs also saw positive demand, adding ₹2,472 crore ($260.2 million) in August 2026. This takes India’s year-to-date inflows to ₹40,090 crore ($4.22 billion), as per WGC data.

An earlier WGC update had already put India’s first-half-of-August inflows at about ₹1,179 crore, meaning the second half of the month added roughly ₹1,293 crore more.

Holdings of Indian gold ETFs rose by 1.6 tonnes during the month, taking total holdings to 121.3 tonnes. A gold ETF is a fund that holds physical gold and lets investors buy small units of it on the stock exchange, instead of buying gold bars, coins, or jewellery.

Source: World Gold Council, Gold ETF Flows report, data as of 31 August 2026.

What is Driving the Rush into Gold ETFs

The WGC linked the global surge to worries about government debt and currency policy in major economies, rising bond yields, and gold’s strong price performance through the year. As gold broke past key technical levels during the month, the rally likely drew in more short-term and institutional buyers, the WGC noted.

Gold market trading also picked up sharply. Average daily trading volumes across gold markets rose 21% in August to $430 billion, while gold ETF trading volumes alone jumped 83% to $8.7 billion a day, according to WGC figures.

What This Means for Indian Investors

Gold ETFs are still a small part of India’s overall investment market compared with equities and mutual funds. But steady monthly inflows through 2026 show more investors are using them to add gold to their portfolio without buying physical jewellery or coins.

To buy and hold gold ETF units, you need an open demat account, since these units are listed and traded on the stock exchange just like shares. A demat account simply holds your shares, ETF units, and bonds in electronic form.

Investors who already track stocks and mutual funds on a trading platform can watch gold ETF prices and volumes there too, alongside domestic gold and silver rates. One month of strong inflows does not signal a lasting trend on its own, and gold prices can move quickly with changes in interest rate expectations and currency markets.

Investments in gold ETFs are subject to market risks. This article is for information only and is not investment advice.

Dilip Buildcon shares jumped as much as 12% on 10 September 2026 after the company won a Letter of Intent from PNGRB to build a ₹1,800-crore LPG pipeline linking Paradip, Odisha, to Raipur, Chhattisgarh.

PNGRB Awards Dilip Buildcon the Paradip-Raipur Pipeline

Dilip Buildcon Limited (DBL) told stock exchanges on Wednesday, 9 September 2026, that it has been selected as the successful bidder for a Letter of Intent (LOI) from the Petroleum and Natural Gas Regulatory Board (PNGRB). PNGRB is the sector regulator that authorises and oversees India’s petroleum and gas pipeline network.

The LOI grants DBL exclusive authorisation to lay, build, operate and expand a petroleum and petroleum products (LPG) pipeline running from Paradip in Odisha to Raipur in Chhattisgarh. The company will also be entitled to levy and collect a tariff for transporting LPG up to the designated delivery point.

Stock Swings from a 12% Spike to a Calmer Gain

News of the order sent Dilip Buildcon shares sharply higher when trading opened on Thursday, 10 September 2026. The stock gapped up against its previous close of ₹392.45 on the BSE.

By around 9:29 AM IST, the shares were up 7.24% at ₹421.40, before touching an intraday high near ₹439.90 a gain of about 12%. The rally then eased through the morning, with the stock trading closer to 5.5% higher, at ₹414.20, by 10:50 AM IST.

This kind of gap-up-then-cool-off pattern is common after a single large order win, as some early buyers book profits once the initial excitement settles.

Deal Structure Keeps LPG Trading Risk off DBL’s Books

The project will be executed through a Special Purpose Vehicle (SPV) that is 100% owned by Dilip Buildcon. Under the proposed structure, DBL will handle the design, financing, development, construction, operation and maintenance of the pipeline infrastructure subject to the required approvals and authorisations from PNGRB.

Importantly, DBL will not be involved in the procurement, trading, distribution or sale of LPG itself, and will not carry the commercial risk tied to LPG pricing. The pipeline is meant to replace the existing road-tanker movement of LPG to the bottling plants of Oil Marketing Companies (OMCs), which the company said should also help improve road safety.

The pipeline will additionally function as a Common Carrier, meaning other eligible OMCs can use its capacity under the PNGRB tariff framework. DBL confirmed that neither its promoters nor promoter-group entities have any interest in PNGRB, and that the deal is not a related-party transaction.

As is standard after such disclosures, DBL said its trading window for insiders and other designated persons will stay closed for 48 hours from when the information becomes public, in line with insider-trading regulations.

Strong New Order, but Weaker Quarterly Profit

The EPC opportunity from this pipeline is valued at approximately ₹1,800 crore, excluding GST, to be executed over 36 months. That construction phase is expected to be followed by a much longer 25-year operating period, giving DBL a long-duration revenue stream once the pipeline is built.

This new order arrives at a time when Dilip Buildcon’s core financial performance has softened. The company’s consolidated net profit fell 50.67% year-on-year to ₹112.95 crore in the June 2026 quarter (Q1 FY27), while revenue declined 9.26% to ₹2,377.78 crore over the same period.

Dilip Buildcon describes itself as a diversified infrastructure company with more than three decades of project-execution experience. It currently operates across 20 states and one Union Territory, with a workforce of around 20,581 employees and a fleet of over 10,275 pieces of equipment.

What This Means for Investors Tracking DBL

The PNGRB opportunity is still subject to further approvals and regulatory requirements, so the ₹1,800-crore project is not yet a fully executed contract. Investors will need to watch for the formal contract signing and project timelines over the coming months.

For those who want to follow stocks like Dilip Buildcon as such news breaks, keeping an eye on price movement through an online trading platform can help track intraday swings like the one seen today. Anyone looking to actually buy or hold shares such as DBL will first need to open a demat account, since listed shares in India can only be held and traded in demat form.

Stock markets are subject to market risks. This article is for informational purposes only and is not investment advice.

NPCI launched two new agentic AI platforms, AiNxt and AtOM, at Global Fintech Fest 2026 in Mumbai. The tools aim to help enterprises build AI agents and speed up UPI–linked partner onboarding and certification workflows.

What NPCI Announced at Global Fintech Fest 2026

The National Payments Corporation of India (NPCI) launched two new agentic artificial intelligence (AI) platforms AiNxt and Agentic Orchestration & Messaging (AtOM) on Wednesday at the Global Fintech Fest (GFF) 2026 in Mumbai.

NPCI operates several of India’s core retail payment systems, including UPI, RuPay, and FASTag. GFF 2026 is running from 8 to 11 September 2026 at the Jio World Centre in Mumbai, with this year’s theme built around agentic AI, tokenisation, and quantum technology.

“Agentic AI” refers to AI systems that can carry out multi-step tasks on their own, with less step-by-step human handling than a typical chatbot or software tool.

AiNxt: A Platform to Build and Deploy AI Agents

AiNxt is pitched as an enterprise-grade platform that lets organisations and individual developers create, test, and deploy their own AI agents. It follows a bring-your-own-model (BYOM) approach, so users are not locked into one AI provider and can plug in whichever model suits their use case.

The suite has four components:

• AiNxt OS – the core operating layer for running AI agents
• AiNxt Code – a plugin for use inside development environments (IDEs)
• AiNxt CLI – a command-line interface for developers
• AiNxt Enterprise – the enterprise deployment layer

It also offers no-code and low-code options alongside developer-first tools, so both technical and non-technical teams can build agents. Multiple reports have also described AiNxt as open-source, which would let it be adopted well beyond NPCI’s own ecosystem.

AtOM: Automating Partner Onboarding Across UPI

The second platform, AtOM, works differently. Instead of a general agent-building tool, it is designed for agent-to-agent orchestration within the payments ecosystem itself – handling system integration, change management, partner onboarding, testing, and certification through a single workflow.

Its first use case is UPI, where any change usually has to be implemented and certified across dozens of banks and payment service providers (PSPs) before it can go live. AtOM is meant to cut down that manual back-and-forth and help banks and PSPs roll out UPI feature changes faster.

AtOM’s interactions are machine-readable and digitally signed, which NPCI says can support compliance and audit requirements – useful for regulated entities that need a verifiable trail of what changed and when. The platform’s architecture is based on JSON-RPC 2.0, an open messaging standard, and NPCI has indicated it could eventually be extended to other NPCI products beyond UPI.

Why This Launch Matters for India’s Payments Ecosystem

This launch continues NPCI’s push to bring AI deeper into India’s digital payments infrastructure. On the same day at GFF 2026, NPCI also introduced other initiatives, including open-source Android ATMs aimed at rural and corporate hubs, underlining a broader shift toward AI-led automation across its product lines.

For now, banks and PSPs are the primary audience for both platforms, since AtOM’s initial rollout is tied to UPI feature certification, and AiNxt is aimed at enterprises building their own agents. How quickly banks and fintechs actually adopt these tools over the coming months will be the real test of their impact.

Redington shares surged nearly 6% to an all-time high on 10 September 2026, a day after Apple unveiled the iPhone Duo, iPhone 18 Pro and 18 Pro Max, alongside price hikes on older iPhone models in India.

Redington Share Price Today: Record High on BSE and NSE

On BSE, Redington shares touched a fresh all-time high of ₹398.80, up around 5.5% from the previous close of ₹377.85. On NSE, the stock was at ₹398.20 as of 11:50 AM IST, up 5.33% over its previous close of ₹378.05.

The stock had opened at ₹389, touched an intraday high of ₹403.25, and a low of ₹380.30. Roughly 6 million Redington shares changed hands on BSE and NSE combined during the session.

The rally builds on a strong run for the stock. Redington is up about 40% so far in 2026, even as the BSE Sensex has fallen around 12% in the same period. Over six months it has gained more than 50%, and it is up 57% over one year and 163% over five years.

What Apple Launched at Its ‘Surprise and Shine’ Event

Apple held its “Surprise and Shine” launch event on 9 September 2026, unveiling the iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max. The company also launched the Apple Watch Series 12, Apple Watch Ultra 4 and AirPods 5.

This was John Ternus’s first major iPhone launch as Apple’s chief executive, after he took over from Tim Cook on 1 September 2026. Apple’s own shares ended marginally lower after the event.

Redington is an official authorised distributor of Apple products in India, and is also among Apple’s supply-chain and distribution partners across the Middle East and Africa. Apple products make up a significant part of Redington’s mobility distribution business, which is why the stock reacts sharply to Apple product news.

iPhone Duo: Apple’s First Foldable iPhone

The iPhone Duo marks Apple’s entry into the foldable smartphone category, currently led by Samsung and Chinese brands like Huawei. It uses a book-style folding design with a 7.6-inch main display when unfolded, and a smaller external screen for use when closed.

The device runs on Apple’s new A20 Pro chip and a new in-house C2 modem, which reduces Apple’s reliance on Qualcomm for connectivity. Apple says the iPhone Duo offers up to 24 hours of mixed dual-screen usage and can charge to 50% in about 20 minutes.

In India, the iPhone Duo starts at ₹2,99,900 for the 256GB model, going up to ₹4,49,900 (around ₹4.5 lakh) for the top-end 2TB variant – making it one of the most expensive smartphones sold in the country. It will be available in India from 23 October, with pre-orders opening earlier.

iPhone 18 Pro, iPhone 18 Pro Max: Price in India

The iPhone 18 Pro and iPhone 18 Pro Max also run on the new A20 Pro chip and come in black, silver, glacier and a new burgundy colour, across 256GB, 512GB, 1TB and 2TB storage options.

Pre-bookings open on 12 September across 65 countries, including India; sales in India begin on 18 September. Compared with last year’s iPhone 17 Pro series, both models cost noticeably more:

Apple has also raised prices on some older iPhone models still on sale in India. The 256GB iPhone 17 now costs ₹99,900, up from ₹82,900 – a hike of about 20.5%. The 512GB variant now costs ₹1,24,900, up from ₹1,02,900, a rise of about 21.4%. Prices of the iPhone 17e and iPhone Air have also gone up, though the exact revised prices were not detailed in company statements reviewed for this article.

Why This Matters for Redington

A new, higher-priced iPhone lineup can be a direct positive for a distributor like Redington, since more expensive units moving through the same distribution channel can lift the overall value of sales, even before accounting for volume growth from the new foldable category.

The actual financial impact, though, will depend on factors such as unit sales, inventory levels, channel margins, consumer demand, and how Apple allocates supply of the new iPhone Duo across markets – none of which are known yet this early in the launch cycle.

Investors tracking Redington or other Apple-linked stocks around launch events like this will first need to open a demat account with a SEBI-registered broker, since shares can only be held and traded in dematerialised form.

Redington Stock Outlook: What Analysts are Watching

Seema Srivastava, senior research analyst at SMC Global Securities, said the new iPhone launch is a positive trigger for Redington and that the momentum in the stock could sustain, potentially supporting revenue growth and earnings over the coming years.

On the charts, Harish Jujarey of Prithvi Finmart pointed to a long-term rising trendline resistance in the ₹410–420 zone, while flagging that the Relative Strength Index (RSI) a momentum indicator is consolidating in the 65–70 range, which can sometimes signal a possible negative divergence.

Investors who want to track Redington’s price movement through the day can do so in real time using any SEBI-registered broker’s online trading platform.

This article is for informational purposes only and does not constitute investment advice. Investments in securities markets are subject to market risks.

Graphite India shares jumped as much as 18% on 9 September 2026 to a fresh 52-week high after US-based GrafTech International announced a minimum 30% increase in graphite electrode prices, raising hopes of better margins for Indian producers.

Why GrafTech Raised Electrode Prices

GrafTech International, a US-listed maker of graphite electrodes, told customers on 8 September 2026 that it is raising prices by a minimum of 30%. The increase applies immediately to all open commercial negotiations.

The company said electrode prices have fallen sharply over the past three years, while the cost of raw materials, energy and logistics has gone up. In its view, current pricing is not sustainable.

This is GrafTech’s second pricing action of 2026. In March 2026, it had announced an increase of at least $600 to $1,200 per metric tonne, which works out to roughly ₹57,000 to ₹1.14 lakh per tonne at an exchange rate of about ₹94.8 to the dollar on 8 September 2026.

GrafTech has also been cutting costs through workforce reductions, idling of capacity and a planned closure of its electrode plant in Monterrey, Mexico. It said these steps alone were not enough to fix the economics.

Timothy Flanagan, CEO and President of GrafTech, said the price increase, along with the company’s recently announced capacity reduction, is part of a consistent strategy to address structural problems in the business.

How Graphite India Shares Reacted on Wednesday

Graphite India opened higher on Wednesday, 9 September 2026 and kept climbing through the morning. The stock touched an intraday high of close to ₹870 on the NSE, against Tuesday’s close of ₹734.45.

That took it well past its earlier 52-week high of about ₹802, a level it had not crossed in the previous year. By early afternoon it was trading near ₹856, up close to 17%.

All figures above are intraday and were captured during market hours on 9 September 2026. Indian equity markets trade from 9:15 AM to 3:30 PM IST, so these levels would have moved after this article was written.

What Graphite Electrodes Are and Why Pricing Matters

Graphite electrodes are thick graphite rods used inside electric arc furnaces, which melt scrap steel into new steel. They burn away during the process, so steel plants have to keep buying them.

That makes the selling price of electrodes the single biggest driver of revenue and profitability for a maker like Graphite India. When global prices are weak, realisations shrink, and when they rise, margins can recover.

Graphite India has an electrode manufacturing capacity of 80,000 tonnes per annum, which makes it the largest Indian producer, according to figures from its Q1 investor presentation reported by Business Standard.

One point worth keeping in mind: GrafTech’s decision applies to GrafTech’s own negotiations, not to Graphite India’s contracts. Wednesday’s move reflects investor expectation of an industry-wide price reset, not a confirmed change in Graphite India’s own realisations.

Anyone looking to hold shares of a company like Graphite India needs a demat account, which stores shares electronically with a depository such as NSDL or CDSL. On days when a stock swings this much, live quotes on a trading platform are more useful than a morning headline, because the price can shift several percent within a single session.

Where HEG Stands After Its Demerger

HEG Advanced Materials also gained about 5% to ₹273.35 on Wednesday, but the read-across here is no longer direct.

HEG’s graphite electrode business has been demerged into HEG Graphite Ltd, which is proposed to be renamed HEG Ltd and listed separately as a pure-play electrode company. Business Standard reported that this new entity is expected to list next month.

The currently listed HEG Advanced Materials retains the advanced materials, battery energy solutions and green power businesses, and Bhilwara Energy has been amalgamated into it. So any gain from higher electrode prices would sit largely with the new demerged entity, not the listed one.

What to Watch From Here

The rally is built on an expectation, so the follow-through matters more than the one-day move. A few things will decide whether it holds:

• Whether GrafTech’s 30% increase actually gets accepted in contract negotiations, or gets diluted
• Movement in needle coke and energy costs, which decide how much of a price rise reaches the bottom line
• Demand from electric arc furnace steelmakers globally and in India
• Graphite India’s Q2 FY 2026-27 results, which will show whether realisations have actually improved
• The listing of HEG Graphite, which will give the sector a second pure-play stock

Investments in the securities market are subject to market risks. This article is for information only and is not investment advice.

Coforge shares fell as much as 8.7% on Wednesday, 9 September 2026, after Chairman OP Bhatt resigned with immediate effect. An internal audit had flagged disclosure gaps in the company’s board evaluation report.

What the Internal Audit Flagged

Coforge’s internal auditor reviewed the company’s board evaluation exercise as part of the internal audit plan for the second quarter. That exercise had been carried out under Bhatt’s guidance.

A board evaluation is an annual assessment of how well the board and its directors are performing. Coforge said it is a regulatory requirement, and its findings go into a Board Evaluation Report, or BER, which is placed before the board.

The review raised concerns about how the BER was handled and presented. In a filing to the BSE, Coforge said certain material information in the report, including information relating to the Chairman’s own performance, had not been fully disclosed to the board when the BER was tabled.

The company said the evaluation exercise in question was conducted in March and April 2026.

Bhatt Quit Before the Board Reached a Decision

After the audit observations, the board set out its concerns and asked Bhatt for an explanation. He replied, and the board was still weighing that reply.

Coforge said no final decision had been taken on the matter when the resignation came in. The board added that it considered it important to clarify that the exit followed the audit concerns and the process it had run.

In his resignation letter, Bhatt said he had always discharged his duties independently and in the interest of the company and all shareholders. He said staying on while a disagreement remained over how his good-faith actions in the evaluation process were being characterised would not help the board function effectively, and that there were no other material reasons behind the decision.

Bhatt, a former Chairman of State Bank of India, joined the Coforge board as Chairman in 2024. His term was due to run until April 2027. He has also ceased to be a member of every board committee he sat on.

Coforge’s filings do not report any finding of fraud, and the company has separately said the matter has nothing to do with its accounts.

How the Stock Reacted on 9 September

Coforge opened sharply lower. On the BSE the stock opened at ₹1,821, down 6.57%.

It then slipped to a day’s low of ₹1,780.70 on the NSE, an 8.7% fall from the previous close of ₹1,950.00, before recovering a large part of the loss. By 11:33 AM IST it was back near ₹1,872.30, down about 4% on the day.

Volumes were heavy from the opening bell, with more than 17 lakh shares changing hands on the NSE in the first five minutes of trade.

Swings like this show up directly in what retail investors hold. Shares bought on the exchange sit in a demat account, which stores them electronically with a depository such as NSDL or CDSL, and a day like this changes the value of that holding even if the investor does nothing.

Vivek Sharma Named Interim Chairperson

The board designated Vivek Sharma, already a non-executive independent director on the board, as interim Chairperson until 31 January 2027.

A non-executive independent director is a board member who is not part of the company’s day-to-day management and has no material business relationship with it. The appointment gives Coforge board-level continuity while it works out a longer-term arrangement.

Coforge Says Financials and Guidance Remain Unaffected

In a separate exchange filing, Coforge said the matter relates only to the board evaluation exercise and does not relate in any way to its financial statements, its financial reporting, or any financial matter of the company.

It also said the issue has no bearing on operations, business performance, or its stated near-term, medium-term and long-term guidance. The company said the clarification was issued specifically to avoid any misunderstanding on that point.

The Wider IT Sell-Off Added to the Fall

Wednesday was already a bad session for Indian IT stocks. The Nifty IT index hit a low of 28,779.80, down 3.7% from its previous close, and fell for a sixth straight session.

Infosys, Tech Mahindra, HCL Technologies, Persistent Systems and TCS were down roughly 3% to 4% each. Over the six-session run, the Nifty IT index has lost more than 10%.

Analysts pointed to caution ahead of the next US Federal Reserve meeting, bearish brokerage commentary on the sector, and a hike in US work visa fees as the main sector-wide pressures.

So part of the fall in Coforge was company-specific, and part of it was the sector selling off around it.

What to Watch Next

Three things will shape how this plays out.

First, whether Coforge’s board says anything further about the audit findings now that Bhatt has stepped down. Second, who is named permanent Chairperson before the interim term ends on 31 January 2027.

Third, the board meeting scheduled for 23 October 2026, when Coforge will consider its results for the July-September quarter and the first half of FY 2026-27. Any management commentary there will be closely read.

Investors following the stock through the session can track the price live on an online trading platform, along with the exchange filings the company keeps putting out.

Investments in the securities market are subject to market risks. This article is for information only and is not investment advice.

India’s largest stock exchange is set to price its IPO lower than planned. NSE may sell shares at ₹1,700 to ₹1,785 each, against ₹2,000 to ₹2,100 earlier, cutting its valuation by nearly ₹84,000 crore.

The New Price Band and What It Raises

The National Stock Exchange of India (NSE) is likely to fix its IPO price band at ₹1,700 to ₹1,785 per share, Bloomberg reported on 8 September 2026, citing people familiar with the matter.

A price band is simply the range within which investors place their bids. NSE had earlier been marketing a band of ₹2,000 to ₹2,100 per share.

The exchange may also reduce the stake being sold to about 5.5% of its equity, down from the 6% planned earlier. Some shareholders backed out of selling once the lower price was on the table, the report said.

At the top of the new band, a 5.5% stake sale would fetch around ₹24,300 crore. That is below the ₹27,900 crore Hyundai Motor India raised in 2024, which remains India’s largest IPO.

At ₹1,785 a share, NSE would be valued at up to ₹4.42 lakh crore, against the ₹5.26 lakh crore it was earlier targeting.

Why NSE Has Softened the Terms

Two pressures show up in the reporting. The first is shareholder appetite. With the price lower, some selling shareholders chose to hold on to their shares, which shrinks the size of the offer.

The second is the market’s capacity to absorb big issues. Bloomberg reported that the smaller deal reflects concerns about how many large offerings India’s primary market can take at the same time, with Jio Platforms also moving towards a very large listing.

The fundraising trend supports that caution. Bloomberg data shows Indian IPOs have raised less than half this calendar year of what they raised in each of the previous two years, both of which set records.

How the Lower Band Changes the Valuation Math

NSE reported consolidated profit after tax of ₹10,302 crore in FY 2025-26, down about 15% from ₹12,188 crore in FY 2024-25, with earnings per share of ₹41.62 (NSE results release, 5 May 2026).

Measured against that EPS, here is how the two versions of the deal compare.

The price to earnings ratio compares the share price with the profit the company earns per share. A lower multiple means investors are being asked to pay less for the same earnings.

Which Listed Companies Are Selling NSE Shares

The IPO is entirely an offer for sale (OFS). No new shares are being created, so NSE itself receives nothing from the issue. Every rupee goes to the shareholders who sell.

The draft prospectus filed in June 2026 covers up to 14.89 crore shares, roughly 6% of NSE’s equity. That share count will come down if the stake is trimmed to 5.5%.

Among listed sellers, State Bank of India is set to offload up to 2.48 crore shares, Bank of Baroda 1.10 crore and GIC Re around 1.07 crore. New India Assurance is also on the selling list.

Other sellers named in the draft papers include MS Strategic (Mauritius) with 1.60 crore shares, Canada Pension Plan Investment Board with 1.19 crore, Aranda Investments (Mauritius) with 1.12 crore and Stock Holding Corporation of India with 1.09 crore.

Life Insurance Corporation of India, the single largest shareholder with about 10.72%, is not selling any shares in the offer.

Because this is a pure OFS, the shares move from existing holders to new investors, and any allotment is credited to the buyer’s demat account before listing.

The Timeline Reported So Far

PTI has reported a working calendar for the issue. None of it has been confirmed by the exchange.

• Price band announcement: around 15 September 2026
• Anchor investor bidding: 17 September 2026
• Issue open for subscription: 18, 21 and 22 September 2026
• Listing on BSE: around 25 September 2026

Bloomberg’s version is a little wider, saying the price range is expected this week and subscription in the week beginning 14 September 2026.

NSE shares will list on BSE, since Indian rules do not permit an exchange to list its own shares on its own platform.

What Is Still Not Confirmed

The price band, the lot size and the issue dates are all still unofficial. Bloomberg said deliberations were continuing and that the pricing and the timing could change.

The final figures will appear only in the Red Herring Prospectus (RHP). Anyone tracking the issue can watch for that filing on the BSE website or through their online trading platform.

SEBI issued its observation letter for the offer on 4 September 2026. That is the clearance a company needs before it can launch an IPO.

Investments in the securities market are subject to market risks. This article is for information only and is not investment advice.