Blog

Maharashtra Scooters, part of the Bajaj Group, has declared a ₹160 per share interim dividend for FY 2026-27. The record date is 21 September 2026, with the payout reaching shareholders by 13 October 2026.

₹160 Interim Dividend: Record Date and Payment Timeline

The company’s board approved the interim dividend at a meeting held on 15 September 2026. At ₹160 per share on a face value of ₹10, the payout works out to 1,600% of face value.

Shareholders whose names appear in the company’s records on the record date of Monday, 21 September 2026, will qualify for the dividend. Under India’s T+1 settlement cycle, only investors who buy the stock before the ex-dividend date are eligible; purchases made on or after that date will not receive this payout.

The dividend amount is scheduled to be credited to eligible shareholders’ bank accounts on or before Tuesday, 13 October 2026.

Maharashtra Scooters shares closed about 0.5% lower on the day the dividend was announced and are down close to 8.8% so far this calendar year. A dip on the announcement day is not unusual for such stocks, since the coming ex-dividend adjustment is already anticipated by the market.

Why a Small-Cap Company Pays Such a Large Dividend

Maharashtra Scooters no longer manufactures scooters; that business was wound down years ago. Today it operates as an unregistered Core Investment Company (CIC) within the Bajaj Group, meaning it mainly exists to hold shares in other group companies rather than run an operating business.

Its holdings include stakes in Bajaj Auto, Bajaj Finance and Bajaj Holdings & Investment. Since RBI rules require a CIC to keep most of its assets invested in group companies, the dividend and interest income it earns from these holdings gets passed on to its own shareholders through large payouts like this one.

How This Year’s Payout Compares with FY 2025-26

The ₹160 interim payout matches last year’s interim dividend exactly. Last year’s total for the full year came to ₹220 per share once the ₹60 final dividend was added; whether FY 2026-27 sees a similar final dividend will depend on a later board decision.

Board Also Clears Renewable Energy Foray and Name Change

Alongside the dividend, Maharashtra Scooters is in the middle of a separate corporate exercise: seeking shareholder approval to rename itself Bajaj Nivesh Limited and to add renewable energy generation, covering solar, wind and other sources, as a new object in its Memorandum of Association.

The company has clarified that the renewable energy clause is meant to widen its future scope and will not change its status as an unregistered CIC. Voting on this postal ballot, which opened on 29 August 2026, is set to close on 27 September 2026.

This corporate action follows the company’s June-quarter (Q1 FY27) results, where standalone profit had fallen sharply from a year earlier as dividend income from group holdings dried up for that quarter. Such swings are common for a company whose own earnings depend heavily on when its group companies declare their dividends.

What Shareholders Need to Do Before the Record Date

To receive this dividend, the shares must be held in electronic form by the ex-dividend date. Investors who do not yet have one will need to open a demat account before then, since shares can no longer be held or transacted in physical form.

Dividend income is fully taxable in the hands of shareholders at their applicable income tax slab rate, and TDS will apply as per the Income Tax Act. Investors tracking the stock through the ex-dividend date can follow price movement on an online trading platform, since holding-company stocks typically adjust downward by roughly the dividend amount once shares turn ex-dividend.

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

Raymond shares jumped nearly 12% on Tuesday, 15 September 2026, to a 52-week high of ₹1,122 on the NSE, as investors continued to react to a multi-programme aerospace order won by the company’s aerospace subsidiary.

What Happened to Raymond Shares on 15 September

Raymond Limited opened at ₹1,015.60 on the NSE on Tuesday, against Monday’s close of ₹1,002.80.

The stock then ran up to an intraday high of ₹1,122, a gain of close to 12% and its highest level in the past 52 weeks. Several news reports described this as a record high for the stock.

The gains did not hold through the day. By 2:59 PM IST, Raymond was trading at about ₹1,038.60, up roughly 3.6%, after swinging between ₹1,013.80 and ₹1,122.

Volumes were heavy. Combined NSE and BSE turnover crossed 2.2 crore shares during the session.

What the Aerospace Order Actually Covers

In an announcement dated Friday, 11 September 2026, Raymond said its aerospace subsidiary had secured significant new business from a leading Indian aerospace and defence company. The customer was not named.

The award covers more than 300 part numbers across multiple aircraft applications. A part number is simply the unique code for one specific component, so this means over 300 different types of parts, not 300 pieces.

The work spans precision machining, aerospace castings, structural components and complex assemblies. Annual volumes are expected to exceed 37,000 components.

At expected production rates, the company put the annual business potential at approximately ₹33 crore. Production is set to begin progressively across 2026 and 2027.

Rakesh Tiwary, Group Chief Financial Officer of Raymond, said the win fits the company’s work on product mix, which he called “a core margin lever”. He also said it broadens the customer base into India’s domestic aerospace ecosystem, in a business that has so far been mostly export driven.

Why Tuesday’s High Came Two Sessions After the News

This is worth noting, because the headline number can be misleading. The order was disclosed on Friday, 11 September, and the stock had already surged over 17% that day to close at ₹1,003.

Monday, 14 September, was essentially flat, with the stock closing at ₹1,002.80.

So Tuesday’s spike to ₹1,122 was an extension of an existing move, not the market’s first reaction to the order.

Putting the ₹33 Crore Order in Context

The order’s annual potential of about ₹33 crore is modest next to Raymond’s reported aerospace order book of more than ₹5,960 crore, which the company has said runs across a ten-year horizon.

For scale, Raymond’s aerospace and defence segment alone reported revenue of ₹123 crore in a single quarter, Q1 FY 2026-27, up 40.4% year on year. Total income for that quarter was ₹628 crore, up 13%.

The size of Tuesday’s share price move therefore looks larger than the rupee value of this one order would suggest on its own. The stock has been re-rating for months as Raymond becomes a pure engineering business, following the separate listings of Raymond Lifestyle in September 2024 and Raymond Realty in July 2025.

Investors who want to hold shares like Raymond in their own name need a demat account, which keeps shares in electronic form with NSDL or CDSL. Day to day price moves can be followed through any online trading platform during market hours of 9:15 AM to 3:30 PM IST.

The ₹214.71 Crore Warrant Issue Still Needs Shareholder Approval

Separately, on 8 September 2026, Raymond’s board approved raising up to ₹214.71 crore through a preferential issue of 33,28,686 convertible warrants to Minerva Ventures Fund.

A convertible warrant is a right to buy a share later at a price fixed today. These are priced at ₹645 each, made up of ₹10 face value and a ₹635 premium.

The warrants can be converted into equity shares in one or more tranches within 18 months of allotment. Unconverted warrants lapse after that, and the upfront money paid is forfeited.

If fully converted, Minerva Ventures Fund would hold about 4.35% of Raymond on a fully diluted basis. The issue is subject to shareholder and regulatory approval, and reports indicate an extraordinary general meeting has been called for 3 October 2026.

Note the gap between the ₹645 warrant price and Tuesday’s intraday high of ₹1,122.

What to Watch From Here

• Whether production under the new order actually ramps up across 2026 and 2027 as guided
• The shareholder vote on the Minerva Ventures Fund warrant issue
• Q2 FY 2026-27 results, and whether aerospace and defence revenue keeps growing at 40%
• Any disclosure naming the customer, or firming up contractual minimums

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

PNC Infratech shares hit their 20 per cent lower circuit on 15 September 2026 after NHAI extended a three-year bidding debarment from its road unit, Awadh Expressway, to the parent company itself, wiping out over half the stock’s value from its 52-week high.

NHAI Extends the Debarment to PNC Infratech Itself

PNC Infratech told exchanges on Sunday, 14 September 2026, that it had received a letter from the National Highways Authority of India (NHAI) dated 11 September 2026. The letter extends the existing debarment of its subsidiary, Awadh Expressway Private Limited, to PNC Infratech in its capacity as the concessionaire’s promoter, for a period of three years.

This is a step up from where things stood in August 2026, when the company had clarified that only Awadh Expressway had received a show-cause notice, and that PNC Infratech itself was not debarred. That changed with the fresh NHAI letter.

As a direct result, PNC Infratech will not be able to bid for any tender floated by the Ministry of Road Transport and Highways (MoRTH), NHAI, or their executing agencies for three years. The company said it is evaluating legal remedies against the order.

Stock Slips to a Six-Year Low

The stock was locked in the 20 per cent lower circuit at ₹140.40 on the BSE and touched ₹140.32 on the NSE, both fresh 52-week lows and the lowest level the counter has seen since August 2020. Friday’s closing price was ₹175.40.

The fall marks a roughly 57 per cent drop from PNC Infratech’s 52-week high of ₹325.15, hit on 17 September 2025. The stock is down around 21 per cent over the past week and 36 per cent over the past month.

Trading volumes jumped sharply through the morning session, with over 48 lakh equity shares changing hands across the NSE and BSE combined by mid-morning, while pending sell orders piled up on both exchanges. PNC Infratech’s total market capitalisation stood at roughly ₹3,600 crore as of 15 September 2026, according to NSE data.

The Kanpur-Lucknow Slippage Behind the Ban

The root of the issue traces back to the Kanpur-Lucknow Expressway (Package-2), a six-lane project executed by Awadh Expressway on a Hybrid Annuity Mode basis. NHAI inspectors found a stretch of roughly 300 metres near km 64 had slipped, an issue first observed on 26 July 2026.

Following this, NHAI issued show-cause notices proposing a penalty, downgrading of the project’s pavement rating, and debarment proceedings against specific technical staff. It also directed the removal of the project’s site manager in late July 2026. Those steps were disclosed at the time, but the debarment order itself was limited to Awadh Expressway.

PNC Infratech has maintained that the project which had a bid cost of ₹1,513 crore received its provisional and final completion certificates in October 2025 and February 2026 respectively, and is now in a 15-year post-construction maintenance phase under the concession agreement.

The company has said the latest order will not affect its status as a going concern, or disrupt the execution, operation, or maintenance of its existing projects. It has not yet disclosed any financial impact and says it will do so as clarity emerges.

Order Book and Growth Outlook Under Pressure

Brokerage ICICI Securities noted that PNC Infratech’s order book stood at roughly ₹19,100 crore as of the June 2026 quarter (Q1FY27), a trailing twelve-month book-to-bill of about 3.7 times, with 56 per cent of it made up of road contracts. Highway contracts make up 64 per cent of the company’s unexecuted order book, with water, canal, railway and airport work at around 21 per cent and coal mining orders at about 15 per cent.

The brokerage’s view is that while revenue for FY27 and FY28 should stay largely unaffected since existing projects continue, the three-year bidding ban is a setback for order inflow and, in turn, revenue visibility from FY29 onward, unless the company can lean harder on its other segments.

Separately, NHAI’s own project awarding has been sluggish this year. PNC Infratech said in its Q1FY27 earnings call that NHAI awarded only 107 km of highway projects in the June 2026 quarter, with execution moderating to about 640 km, citing a thin award pipeline and ongoing geopolitical tensions. Rating agency CARE Ratings has separately flagged that slower NHAI awarding, combined with rising bitumen prices linked to the West Asia crisis, could slow overall road construction pace to roughly 21-22 km a day across the sector in FY27.

What This Means for Investors Watching the Stock

For retail investors tracking a stock through a sharp move like this, having an active demat account is what actually lets you place a buy or sell order on the NSE or BSE once you’ve decided how to respond. A good online trading platform with live price and volume data also helps in following circuit-hit stocks like PNC Infratech through the session, rather than relying on delayed updates.

PNC Infratech is expected to update the exchanges with further details on the financial impact of the debarment as its legal options play out.

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

Tata Chemicals and Tata Investment Corporation jumped as much as 20% on the BSE on Tuesday after the RBI rejected Tata Sons’ plea to avoid a stock market listing and, reports said today, filed a caveat in the Bombay High Court over the matter. TCS, Tata Motors PV and other group stocks also gained.

Tata Chemicals, Tata Investment Corp Lead The Rally

Tata Chemicals shares zoomed as much as 20% intraday on the BSE on 15 September 2026, touching around ₹734.90 against Friday’s close of ₹612.45. This pushed the company’s market capitalisation to roughly ₹18,700 crore.

Tata Investment Corporation, an NBFC promoted by Tata Sons, surged as much as 15% intraday to touch around ₹750, according to Business Standard’s reporting. This was one of the sharpest single-day moves for the stock in recent months.

Other Tata Group names joined the rally, though with smaller gains. Tata Consultancy Services (TCS) rose about 5% to trade near ₹2,313, taking its market value past ₹8.3 lakh crore. Tata Motors Passenger Vehicles gained around 4–6% to near ₹320, while Tata Technologies added about 4% to trade near ₹789.

Two Shapoorji Pallonji (SP) Group companies that also hold a stake in the Tata Sons story, Afcons Infrastructure and Forbes & Company, hit their own 20% upper circuits on the BSE.

The broader market was far calmer. The Sensex opened around 0.4–0.8% higher near 75,100–75,370 levels, meaning the Tata Group rally stood out sharply against the rest of the index.

RBI Rejects Deregistration, Then Moves To Court Today

The rally traces back to a letter dated 11 September 2026, in which the Reserve Bank of India (RBI) told Tata Sons that its application to surrender its registration as a Core Investment Company (CIC) “could not be acceded to.” A CIC is a type of non-banking financial company (NBFC) that mainly holds shares in group companies rather than lending directly to the public.

Tata Sons was placed in the RBI’s “upper-layer” NBFC category back in 2022. Entities in this category, above a certain asset size, are required to list on the stock exchanges. Tata Sons had applied to exit this category entirely to sidestep the listing requirement; the RBI’s rejection removes that route.

What is genuinely new today, and is driving Tuesday’s fresh burst of buying, is a Reuters report that the RBI has pre-emptively filed a caveat in the Bombay High Court. This is a legal filing that ensures the central bank gets a hearing if anyone challenges its decision or seeks a stay on it in court. It signals the RBI expects the matter to be contested and wants to be heard before any order is passed.

Why A Listing Would Matter To Shareholders

Tata Sons is a more than century-old, privately held company with standalone assets of about ₹1.75 lakh crore as of March 2025. It holds large stakes in listed group firms, including roughly 71.7% of TCS, 68.5% of Tata Investment Corporation, and 42.2% of Tata Elxsi.

A listing could unlock value for companies that themselves hold stakes in Tata Sons. Tata Chemicals, for instance, owns about 2.5% of Tata Sons. Brokerage ICICI Securities has pegged this stake’s rough value at ₹10,000–15,000 crore, a figure close to Tata Chemicals’ own current market capitalisation, which is part of why the stock reacted so strongly.

ICICI Securities also flagged that it expects “a prolonged legal battle” ahead, even as it believes the stock could stay in positive territory in the near term.

Tata Trusts And Shapoorji Pallonji Remain Split

The two largest shareholders in Tata Sons disagree on the way forward. Tata Trusts, led by the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, holds about 66% of Tata Sons and has resisted a public listing, wary of diluting its control over the group.

The Shapoorji Pallonji (SP) Group, which holds around 18.4–18.5%, has long favoured a listing as a way to monetise its stake and ease its own debt load. Experts cited by Business Standard believe an offer for sale (OFS) by existing shareholders, rather than a fresh share issue, is the likely route if a listing does happen, since this would let Tata Sons meet public shareholding rules without the Trusts losing their grip.

Adding to the uncertainty, Tata Sons chairman N Chandrasekaran has said he will not seek reappointment, and the group has begun the process of identifying his successor.

What To Watch

For now, nothing has been finalised. Tata Sons has not commented on the RBI’s decision or the caveat filing, and any listing would still require regulatory and legal steps, including the possibility of Tata Sons challenging the RBI’s order in court.

Retail investors tracking these developments will need an open demat account and a trading account to act on price moves in Tata Chemicals, Tata Investment Corporation, or other group stocks as this story develops. Those already holding these stocks may find it useful to track them in real time through an online trading platform, given how quickly sentiment has been shifting session to session.

This article is for informational purposes only and is not investment advice. Investments in the securities market are subject to market risks; please read all scheme-related documents carefully and consult your financial advisor before investing.

Gold rates in India barely moved on Tuesday, 15 September 2026, with MCX gold futures at ₹1,51,304 per 10 grams. The bigger event is Wednesday’s US Federal Reserve decision, where a rate hike is widely expected.

Where Indian Gold Rates Stand Today

On the Multi Commodity Exchange (MCX), India’s main commodity exchange, gold futures traded at ₹1,51,304 per 10 grams, up about 0.05%. Silver futures were around ₹2,32,750 per kg, up roughly 0.03%.

Retail rates, the kind a jeweller quotes at the counter, sat higher. Depending on which rate provider you check, 24 carat gold was quoted between ₹1,53,170 and ₹1,54,240 per 10 grams on Tuesday.

22 carat gold, the purity used for most Indian jewellery, ranged from ₹1,40,400 to ₹1,41,400 per 10 grams. Retail silver was quoted at roughly ₹2,44,900 per kg.

Rates are indicative and exclude GST, making charges and other jeweller costs.

Why Every Website Shows You a Different Gold Rate

If you checked three gold rate pages this morning, you almost certainly saw three different numbers. That is normal, and it is worth understanding before you walk into a showroom.

MCX gold is a futures contract. It is a standardised exchange traded product that settles in cash, so it carries no making charge and no retail margin.

Retail “gold rate today” figures come from private data aggregators that poll bullion dealers and jewellers city by city. Different aggregators poll different dealers at different times, which is why today’s 24 carat quotes sit inside a band of about ₹1,070.

Neither figure is your final bill. On physical jewellery you also pay 3% GST plus making charges, which vary by design and are often negotiable.

The direction of the move is also disputed today. Some providers showed Delhi’s 24 carat rate down about ₹490 from the previous reading, while others recorded a small gain. Given how narrow the moves are and how wide the gap between providers is, the fair reading for 15 September 2026 is that Indian gold was close to flat.

The Fed Meeting Is Wednesday’s Real Trigger

The US Federal Open Market Committee (FOMC), the body that sets American interest rates, began a two-day meeting on Tuesday, 15 September 2026. The decision is due on Wednesday, 16 September at 2:00 PM ET, which is about 11:30 PM IST.

The current US policy rate range is 3.50% to 3.75%. Markets are now pricing in roughly a 90% probability of a 25 basis point increase, up sharply from about one in three a month ago.

This matters for gold because bullion pays no interest. When rates go up, interest-bearing assets such as bonds look relatively more attractive, and gold usually comes under pressure.

The repricing followed last week’s US inflation data. Annual American consumer inflation held at 3.4% in August, and core inflation came in above what economists had forecast.

Oil Supply Shock Is Pulling Gold the Other Way

Working against that is a real geopolitical shock. Saudi Arabia shut its East-West crude pipeline after drone attacks, removing a route that lets oil bypass the Strait of Hormuz.

Brent crude pushed above $108 a barrel intraday on Monday before settling 1.5% higher at $106.23, roughly ₹10,200 a barrel at a rupee near 95.8 to the dollar.

For gold, expensive oil cuts both ways. Middle East tension supports safe haven buying, but costlier energy feeds inflation fears, which strengthens the case for higher rates.

So far the rate argument has won. Spot gold settled 1.2% lower at $4,298.80 an ounce on Monday, its weakest level in more than a month and a third straight weekly decline. On Tuesday it held near $4,300, with Comex futures around $4,341.50, down about 0.24% in early trade. A firmer dollar, with the dollar index at 99.60, added to the drag.

What to Watch Over the Next Two Sessions

The Fed statement and the accompanying rate projections on Wednesday night IST are the single biggest variable for gold this week. Because a hike is already largely priced in, the tone of the commentary may move prices more than the decision itself.

Crude oil is the second thing to track. If the Saudi pipeline stays offline and Brent holds above $100, inflation worries are unlikely to fade quickly.

For buyers, the festive and wedding season is approaching, which usually supports physical demand in India even when international prices soften. If you are buying jewellery, confirm the BIS hallmark and the six digit HUID code, and ask for the making charge in writing before paying.

Investors who would rather not store metal can look at gold ETFs, which track bullion prices and are held in a demat account instead of a locker. Gold ETFs and MCX gold and silver contracts can be tracked live through an online trading platform during market hours.

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

Nifty IT surged nearly 5% on 15 September 2026 after Anthropic’s Dario Amodei, OpenAI’s Sam Altman and Elon Musk called for slower AI development. The rally eased fears that faster AI progress would disrupt Indian IT services companies.

What Sparked the Nifty IT Rally

On 12 September 2026, Anthropic CEO Dario Amodei published an essay urging AI companies to deliberately slow the pace at which they improve frontier AI models, arguing that safety work was not keeping up with capability gains.

His plan had three parts:

• Independent, employee-like evaluators placed inside AI labs to check safety commitments
• Common safety standards adopted across AI companies in democratic countries
• Eventual international coordination, including with China, to limit the riskiest AI capabilities

OpenAI CEO Sam Altman and Tesla and xAI’s Elon Musk both backed the idea within hours. Altman said the topic had already been under discussion inside OpenAI and that the company would offer similar outside access to evaluators.

Indian IT stocks had fallen sharply through 2026 on worries that fast-moving AI tools could replace traditional software services work. The slowdown call flipped that narrative on Tuesday, even as the US Nasdaq index had closed lower overnight on AI-related selling.

Nifty IT Index and Stock-Wise Gains

The Nifty IT index rallied 5.06% to touch an intraday high of 30,386, with every constituent trading higher. Nifty IT stocks together added over ₹1.2 lakh crore in market capitalisation during the early session alone.

LTIMindtree was the session’s biggest gainer, up 6.7%. Persistent Systems and Oracle Financial Services Software also traded higher, while Coforge was the only Nifty IT stock trading lower.

Why a Slower AI Pace Helps Indian IT

Indian IT firms earn a large share of revenue from cloud, testing and software maintenance work for global clients. If frontier AI models advance too fast, this kind of work risks getting automated before companies can adapt, which has been the market’s biggest worry this year.

Domestic brokerage Choice Institutional Equities said a more measured AI development cycle gives enterprises more visibility on technology choices, and could encourage clients who had paused AI and digital spending to resume it. It sees this as a mild positive for Indian IT, particularly in AI implementation, cloud transformation, governance and cybersecurity work.

Ravi Singh, Chief Research Officer at Master Capital Services, described the move as a possible near-term relief rally rather than a lasting turnaround, adding that AI-led disruption still remains a key long-term risk for traditional IT companies.

Kranthi Bathini of WealthMills Securities and Ponmudi R of Enrich Money both pointed to investors rotating out of global technology stocks and into established, traditional Indian IT names after the worldwide AI-linked sell-off.

Trump Pushes Back on the AI Slowdown Call

Not everyone agrees with pacing AI development. US President Donald Trump, speaking during a visit to Ireland, opposed the idea, arguing that the United States needs to keep advancing AI to stay ahead of rivals such as China.

What This Means for Investors

Tuesday’s bounce looks sentiment-driven after a rough year for the sector Indian IT stocks are still down about 21% on a year-to-date basis. The US Federal Reserve’s policy decision on 16 September is the next big trigger that could sway how these stocks trade this week.

To actually buy or hold shares of companies like TCS, Infosys or HCL Technologies, investors need an active demat and trading account, since that is what settles and holds the shares. A dependable online trading platform also helps track live price moves in Nifty IT stocks through the day rather than relying only on end-of-day news.

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