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MCX gold and silver futures rose on 30 September 2026 as crude oil eased and bets on another US rate hike cooled. December gold opened at ₹1,49,910 per 10 gram and silver at ₹2,26,487 per kg.

MCX Gold and Silver Prices on 30 September

Both metals had fallen in the days before. Gold slipped below ₹1.5 lakh per 10 gram in Delhi on 29 September for the first time in two months, and gold and silver ETFs had dropped by up to 4% on 28 September as global bond yields rose. The 30 September move was a recovery from that low.

MCX contract (December)	Previous close	Opening price	Opening gain
Gold (₹ per 10 gram)	₹1,48,823	₹1,49,910	₹1,087
Silver (₹ per kg)	₹2,25,450	₹2,26,487	₹1,037

By the time Business Standard filed its report, gold was trading ₹1,001 higher at ₹1,49,824 and silver ₹993 higher at ₹2,26,443. Comex gold futures, the global benchmark, traded about 0.8% higher. Comex silver gained roughly 0.5%.

On 1 October, Goodreturns reported that MCX gold briefly crossed ₹1.50 lakh in early trade before easing to around ₹1,49,900. MCX silver was up ₹2,155, or 1%, at ₹2,25,861 per kg. Prices of different contracts and times of day vary, so traders should check the live MCX quote.

Why Gold and Silver Found Support

Two factors helped bullion on 30 September.

• Oil fell: crude declined as energy supplies from West Asia improved and another large tranche was released from US emergency oil reserves.
• Fed comments: New York Fed President John Williams said there is no immediate urgency for another rate increase. Market bets on an October rate rise fell to about 50% from nearly 70%, according to Vikram Subburaj of Giottus.com.

Higher interest rates usually make non-yielding assets like gold less attractive, so a lower chance of a hike helps. Subburaj also said the rupee matters for Indian buyers. A weaker rupee can support domestic bullion prices, because gold and silver are priced in dollars globally.

How Far Prices are from This Year’s Highs

MCX gold futures touched ₹1,80,779 per 10 gram earlier in 2026, and silver touched ₹4,20,048 per kg. At around ₹1,49,800, gold is about 17% below its high.

Silver at around ₹2,26,450 is about 46% below its peak. These percentages are calculated from the prices above and show how much both metals have cooled.

Metal (MCX)	2026 high	Price on 30 September	Gap from high
Gold (₹ per 10 gram)	₹1,80,779	About ₹1,49,800	About 17%
Silver (₹ per kg)	₹4,20,048	About ₹2,26,450	About 46%

What Moves Gold and Silver Prices in India

Indian bullion prices follow three main drivers: global prices, the rupee and import costs. Comex prices set the global direction.

The rupee decides how those dollar prices convert into rupees. Duties and local demand then add to the final price a buyer sees.

Because the rupee was near ₹96 to the US dollar on 30 September, according to PL Capital, even a flat global price can look higher in India. The reverse also holds. If the rupee strengthens, domestic prices can ease even when global prices do not move.

Silver has a second driver. It is also used in industry, so its price reacts to factory demand along with investment demand.

That is one reason silver tends to swing more than gold. The data above shows this: silver is further from its 2026 high than gold.

SEBI Opens Commodity Derivatives to More Foreign Investors

SEBI‘s Board meeting on 24 September 2026 also touched the commodity market. The Board allowed FPIs to take part in two types of contracts:

• Non-agricultural index derivatives, whether or not they are cash-settled.
• Non-cash-settled non-agricultural commodity derivatives.

For contracts that can lead to physical delivery, FPIs must close their positions before the tender period starts, three days before expiry. They cannot add to positions from that day. The FPI must also sign an agreement with its trading member that explains how positions will be squared off.

The Board also widened the Vault Managers Regulations to cover bullion that backs gold and silver ETFs and bullion derivatives. Net worth for vault managers rises from ₹50 crore to ₹75 crore.

What Traders and Investors Can Check

MCX quotes gold per 10 gram and silver per kg, while Comex quotes per ounce in dollars, so direct comparisons need a currency conversion. Contract expiry matters too, since different contracts show different prices at the same moment.

Trading MCX futures needs a commodity trading account with a SEBI-registered broker. Investors who prefer gold and silver ETFs instead of futures need to open a demat account, because ETF units are held in demat form. Traders can follow contract-wise prices on an online trading platform, but MCX publishes the official data.

Gold and silver prices can swing sharply, and futures carry leverage that can magnify losses.

Investments are subject to market risks. This is not investment advice.

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The government kept small savings interest rates unchanged for October to December 2026, per a Finance Ministry notification on 30 September. PPF stays at 7.1%, NSC at 7.7% and Sukanya Samriddhi at 8.2%.

Small Savings Rate Card for Q3 of FY 2026-27

The notification says rates for the third quarter of FY 2026-27 stay the same as those for July to September 2026. Here are the rates reported from the notification:

Scheme	Interest rate (% per year)
Sukanya Samriddhi Yojana (SSY)	8.2
National Savings Certificate (NSC)	7.7
Kisan Vikas Patra (KVP)	7.5 (matures in 115 months)
Monthly Income Scheme (MIS)	7.4
Public Provident Fund (PPF)	7.1
3-year time deposit	7.1
Post office savings deposit	4.0

Small savings schemes are run mainly through post offices and banks. They are backed by the Government of India, and the rate for each quarter is announced in advance.

Why the Rates Did Not Change

The government last changed rates on some small savings schemes in the fourth quarter of FY 2023-24, according to PTI. Since then, each quarterly review has kept them where they were. Rates are reset every quarter using a formula recommended by the Shyamala Gopinath Committee in 2011, which links them to government bond yields.

The wider backdrop matters. A personal finance analysis published after the announcement said inflation is rising and government bond yields are higher, but yields still sit below small savings rates. India’s 10-year government bond yield was near 7.15% on 30 September, according to PL Capital.

The analysis added that high inflation could push the government to consider higher small savings rates later. That is a view, not an official plan.

Who Uses These Schemes

Small savings schemes are popular with salaried people, parents saving for a child and retirees who want predictable income. The Monthly Income Scheme and the Senior Citizens’ Savings Scheme pay interest at regular intervals, while PPF and SSY are built for long-term goals. Because rates are announced one quarter at a time, savers cannot know the rate for future quarters when they open an account.

The Kisan Vikas Patra works differently. At 7.5%, it matures in 115 months, which is a little over nine and a half years, so the money stays invested for a fixed period.

What the Unchanged Rates Mean for Savers

The impact differs by scheme. Here are the points savers should know:

• PPF: the rate declared for a quarter applies to the whole outstanding balance, so 7.1% covers every rupee in the account for these three months.
• PPF lock-in: a PPF account matures after 15 years.
• SSY: the 8.2% rate is the highest on the list, and it is meant for a girl child’s savings.
• Rate changes are not locked in: PPF, SSY and SCSS rates are reviewed every quarter, so the rate on the day you open an account does not stay forever.
• Post office savings: the 4% rate is far lower than the other schemes.

Tax treatment differs by scheme, so savers should check the current rules for each one before planning.

A Quick Look at Three Months of Interest

The table below shows a simple, rough calculation of interest for one quarter on a balance of ₹1,00,000. It uses the annual rate divided by four and ignores compounding. Real payouts depend on each scheme’s own rules for compounding and payment, so treat these as illustrations only.

Scheme	Annual rate (%)	Rough interest for 3 months on ₹1,00,000 (₹)
Sukanya Samriddhi Yojana	8.2	2,050
National Savings Certificate	7.7	1,925
Monthly Income Scheme	7.4	1,850
Public Provident Fund	7.1	1,775
Post office savings deposit	4.0	1,000

How the Rates Compare with Bond Yields

The 3-year time deposit and PPF both pay 7.1%. The 10-year government bond yield, near 7.15%, is roughly in the same range.

A bond yield changes every day with trading, while the small savings rate is fixed for a quarter. That is the main practical difference between the two.

Small savings schemes carry a government backing. Market-linked options such as shares and equity mutual funds do not offer fixed returns, and their value can fall.

Adding Market-Linked Options

Savers who want to add shares or ETFs to their mix can open a demat account for direct equity holdings. Those who prefer SIPs can start on an investing platform and choose funds by risk level and time horizon. Market-linked returns are not fixed, so investors should match the amount to their goals and their ability to bear losses.

When the Next Review is Due

The government reviews small savings rates every quarter. The next announcement will cover the January to March 2027 quarter, which begins on 1 January 2027. Until then, the rates in the table above apply.

Investments are subject to market risks. This is not investment advice.

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SRIT India‘s ₹218.40 crore IPO closed on 30 September 2026 with 125.16 times subscription, per bidding data compiled by Chittorgarh. Allotment is due on 1 October, and listing is tentatively set for 6 October.

Final Day Subscription Numbers

Subscription tells you how many times investors asked for the shares on offer. A figure of 125.16 times means bids were more than 125 times the shares offered to investors in this round. The numbers below are as of 5:55 PM on 30 September and may be updated after bids are finalised.

Category	Subscription (times)	Shares offered
QIB (excluding anchor)	91.84	33,60,000
NII	312.99	25,20,000
Retail	63.70	58,80,000
Total	125.16	1,17,60,000

Within the NII category, bids above ₹10 lakh were subscribed 355.80 times, and bids below ₹10 lakh 227.37 times. The issue drew 31,09,304 applications in total.

QIBs are qualified institutional buyers such as mutual funds and insurers. NIIs are non-institutional investors who bid above ₹2 lakh.

SRIT India IPO Issue Details

The IPO is a book-built issue made up entirely of fresh shares, with no offer for sale. Choice Capital Advisors is the lead manager and KFin Technologies is the registrar.

Detail	Information
Issue size	₹218.40 crore (1.68 crore fresh shares)
Price band	₹123 to ₹130 per share
Lot size	115 shares
Minimum retail investment	₹14,950 (one lot at ₹130)
Maximum retail investment	₹1,94,350 (13 lots)
Face value	₹5 per share
Anchor investors	₹65.52 crore raised on 25 September

The issue is split 50% for QIBs (including 30% for anchor investors), 15% for NIIs and 35% for retail investors.

Allotment, Refund and Listing Dates

• Bidding: 28 to 30 September 2026
• Basis of allotment: 1 October 2026
• Refunds and credit of shares to demat accounts: 5 October 2026
• Tentative listing on BSE and NSE: 6 October 2026

Because the issue is oversubscribed in every investor category, many applicants will not receive shares. Retail applicants are allotted shares by a computerised lottery when the issue is oversubscribed.

What Oversubscription Means for Allotment Chances

The retail portion holds 58,80,000 shares. At one lot of 115 shares each, that room can serve at most 51,130 retail allottees. Retail bids were 63.70 times the quota, so only a small share of retail applicants can receive a lot, and the lottery decides who does.

Bids of different sizes do not improve a retail applicant’s odds. A bid for 13 lots has the same chance in the lottery as a bid for one lot.

How to Check Your Allotment Status

Applicants can check status on the KFin Technologies IPO status page or on the BSE and NSE websites, using their PAN, application number or DP ID. Allotted shares are credited to the demat account on 5 October. Applicants who do not get shares should see the blocked UPI amount released or the refund credited by the same date.

Investors who missed this IPO and want to apply to future issues need to open a demat account first, since allotted shares are credited there. UPI bids are placed through a stock trading app or an online trading platform linked to the applicant’s bank account.

What the Company Does and How It Has Performed

SRIT India is a Bengaluru-based IT and IT-enabled services company, set up in 1999. It designs and runs digital platforms for government bodies and enterprises across three areas: healthcare, electronic governance, and telecom and broadband. The company says it has executed more than 103 projects with a combined order value of about ₹1,234.7 crore.

Its revenue from operations rose from ₹389.35 crore in FY 2024-25 to ₹450.00 crore in FY 2025-26, an increase of about 16%. Profit after tax rose about 29%.

Financial measure (₹ crore)	FY 2023-24	FY 2024-25	FY 2025-26
Total income	282.22	400.50	462.54
EBITDA	40.99	49.81	64.77
Profit after tax	29.08	33.60	43.29
Total borrowing	22.28	51.30	36.15

How the Money Will Be Used

SRIT India plans to spend ₹12.86 crore on capital expenditure for modernising products and ₹124.00 crore on working capital. A third object covers acquisitions and general corporate purposes, with no amount listed. After the issue, the promoter and promoter group holding will fall from 84.91% to 62.71%.

Dates to Track After Listing

The anchor investors bought 50,40,000 shares at the issue price on 25 September. The lock-in for 50% of the anchor shares ends on 31 October 2026, and the remaining anchor shares are locked in until 30 December 2026.

A lock-in is a period during which the investor cannot sell. Share supply can change when these dates pass, so investors often watch them.

Investors should read the Red Herring Prospectus on SEBI‘s website before making any decision. IPO listing prices can be above or below the issue price.

Investments are subject to market risks. This is not investment advice.

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Foreign portfolio investors have sold over ₹2.5 lakh crore of Indian equities in 2026, NSDL data compiled by Business Today shows. That is about 50% above the ₹1,66,286 crore sold in all of calendar 2025.

How Big is the 2026 Outflow?

FPIs are overseas funds, such as pension funds and asset managers, that invest in Indian shares and bonds. When they sell more than they buy, the figure is called a net outflow.

NSDL data shows the 2026 outflow has already passed the full-year 2025 number. Business Today describes it as a record.

The selling has not been steady. FPIs turned net buyers in July after a four-month selling streak, then returned to selling in September. In July, they invested about ₹20,200 crore, according to NSDL data.

Year	FPI net equity outflow (₹ crore)
Calendar 2025	1,66,286
Calendar 2026 so far	More than 2,50,000

Other trackers show slightly different totals for the year, because some count IPO investments and some do not. NSDL’s own FPI monitor is the official source for daily and monthly numbers.

Which Stocks Felt the Pressure?

Business Today found that none of the top 10 FPI holdings in India, measured by market value, gave a positive return in 2026. Several favourites fell sharply.

Company	FPI holding value (₹ lakh crore)	Share price change in 2026
HDFC Bank	4.66	Down 27%
ICICI Bank	3.13	Down 3%
Bharti Airtel	2.93	Down 15.88%
Axis Bank	About 1.5	Down 4.51%
Mahindra & Mahindra	1.27	Down 20%
ITC	1.11	Down 34%
Infosys	1.11	Down 33%

Values are as reported by Business Today, using shareholding data from the June 2026 quarter where it is given. Bajaj Finance, Kotak Mahindra Bank and Larsen & Toubro also fell, by up to 8% over the period.

How Foreign Ownership Has Changed

FPI stakes have shrunk in the biggest names. HDFC Bank’s FPI ownership was 41.82% at the end of the June 2026 quarter, down from 47.66% at the end of December 2025.

ICICI Bank’s FPI stake fell from 43.87% to 33.79% over the same period, and Bharti Airtel’s from 28.75% to 26.48%. Companies file shareholding patterns with the exchanges every quarter, so the September quarter numbers will show how much further foreign ownership has moved.

What is Driving the Selling?

Brokerage commentary points to a set of linked pressures. PL Capital’s Vikram Kasat said on 30 September that expensive oil can keep inflation high, hold bond yields up and limit foreign flows into emerging markets. He pointed to the following:

• The rupee was near ₹95.97 against the US dollar.
• India’s 10-year bond yield was near 7.15%.
• The US 10-year yield was around 5.2%.
• Foreign selling in Indian equities has continued.

Business Today also reports that Sensex and Nifty have fallen by up to 16% from their record highs within a year. Brokers such as Choice Broking say persistent FPI selling could limit any recovery, even if buying emerges near key technical levels.

Oil and the Rupee Add to the Pressure

A weaker rupee hurts foreign investors twice. Their returns are measured in dollars, so a falling rupee cuts the value of any gains made in Indian stocks. It also makes imported oil costlier, which can push up inflation.

Business Standard reported that the rupee slipped to ₹96.14 against the US dollar on 29 September 2026 on rising oil prices and portfolio outflows. On 30 September it steadied near ₹96 as RBI intervention cushioned the fall. PL Capital names crude oil, the rupee and global interest rate expectations as the three things to watch in October.

Domestic Investors Have Cushioned the Fall

Domestic institutional investors (DIIs), which include mutual funds, insurers and pension funds, have bought shares for 38 straight months, Business Today reports. Their net buying of ₹20,19,580 crore in that period is more than the ₹10,45,605.85 crore of FPI outflows over the same months. SIP money flowing into equity mutual funds is widely seen as a steady source for this domestic buying.

This balance matters for ordinary investors. Foreign selling can push prices down, while domestic buying can slow the fall. Neither guarantees how markets will move next.

What Investors Can Track

Exchanges publish provisional FPI and DII figures after market hours each day, and NSDL publishes FPI data on its website. Investors can follow these numbers on exchange websites or on any online trading platform. Those who invest in mutual funds online through SIPs are indirectly part of the domestic flow described above.

Anyone planning to buy shares directly must first open a demat account and complete the trading set-up with a broker. Market-linked investments can lose value, and past flows do not predict future returns.

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Sun TV Network told BSE and NSE on 30 September 2026 that a report on demerging its sports division is a rumour. The stock jumped 20% intraday to ₹664 before closing 7.73% higher at ₹596.

How Sun TV Shares Moved on 30 September

The rally came after a news report suggested that Sun TV could separate its sports business. Trading volumes surged as the stock climbed, and BSE sought clarification from the company the same day. By 12:46 PM, about 2.04 crore shares had changed hands on NSE and BSE combined, more than nine times the average volume.

Measure	Figure
Previous close (worked out from the ₹42.75 gain)	₹553.25
Intraday high on BSE	₹664 (up 20%)
Closing price	₹596 (up 7.73%)
Gain over seven sessions, at the intraday peak	About 45%
Earlier 52-week high	₹660, touched on 20 April 2026
All-time high	₹1,097.05, touched on 16 January 2018

The 20% jump was the stock’s biggest intraday surge since 3 February 2017, when it rose 27% on BSE. The stock pared much of its intraday gain by the close, which shows how quickly sentiment can shift when a report is unconfirmed. It still ended the day higher than the previous close.

What BSE Asked and What Sun TV Replied

BSE sought clarification from Sun TV on 30 September 2026 about the news report. Exchanges can ask listed companies to confirm, deny or clarify reports that may move prices. The company’s reply was filed under Regulation 30(11) of SEBI‘s Listing Obligations and Disclosure Requirements (LODR) Regulations, which deals with rumour verification.

In its filing to both exchanges, Sun TV said:

• The news item is a rumour, and the company cannot comment on market rumours.
• It has made all necessary disclosures under Regulation 30 of the LODR Regulations up to the date of the filing.
• There is no impending material price-sensitive information or announcement that could affect trading volumes or the share price.

The filing does not confirm any plan to separate or spin off the sports business. It also gives no detail on a board discussion, deal structure, valuation or timeline. A demerger means a company splits a division into a separate entity, and shareholders usually receive shares in the new entity.

What Sun TV’s Sports Business Includes

Sun TV runs television channels in seven languages: Tamil, Telugu, Kannada, Malayalam, Bangla, Marathi and Hindi. It also operates FM radio stations and the Sun NXT streaming platform.

Its cricket assets are SunRisers Hyderabad in the Indian Premier League, SunRisers Eastern Cape in South Africa’s SA20, and SunRisers Leeds in The Hundred in the UK. The company bought the Leeds franchise, earlier known as Northern Superchargers, in FY 2025-26.

According to a CNBC report cited by Business Today, IPL-related revenue was 33% of Sun TV’s first-quarter revenue. Business Today puts the company’s market capitalisation at around ₹24,000 crore. These are third-party numbers, and Sun TV has not linked them to any restructuring plan.

What a Demerger Would Involve

Sun TV has not announced a demerger, so the points below only explain how such a step normally works in India. A listed company usually separates a business through a scheme of arrangement.

The board approves the plan first, and shareholders then vote on it. The National Company Law Tribunal (NCLT) has to sanction the scheme, and stock exchanges and SEBI review the documents before it goes ahead.

Each of these steps leads to a public filing. A board meeting intimation, an exchange announcement or a shareholder notice would appear on BSE and NSE long before any split takes effect. Sun TV’s filing shows none of these so far.

Sun TV’s FY 2025-26 annual report, quoted by Business Standard, says the company expects its cricket franchise and film production businesses to diversify earnings in the coming years. That is a statement about growth plans for the existing structure, not about separating the sports arm.

Why Rumour Verification Matters to Shareholders

A price jump on an unconfirmed report can reverse quickly, as Sun TV’s smaller closing gain showed. The exchange filing is the reliable record of what a company has actually said. Shareholders can use a simple checklist:

• Read the company’s reply on the BSE or NSE announcements page, not only the news headline.
• Check whether the company confirmed, denied or declined to comment.
• Note the trading volume against the average, since heavy volume often follows a rumour.
• Watch for a board meeting intimation or outcome, which is where a real corporate action would be announced.

Sun TV shares trade as SUNTV on NSE and 532733 on BSE. Anyone who wants to buy or sell the stock needs a demat and trading account. Exchange filings and live prices are also visible on most share market apps, but the filing on the exchange website remains the primary source.

Investments are subject to market risks. This is not investment advice.

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SEBI Chairman Tuhin Kanta Pandey said on 30 September 2026 that portfolio managers now handle about ₹9.2 lakh crore in assets, up from ₹1.4 lakh crore in FY16. He also outlined faster foreign investor onboarding.

How Fast Has the PMS Industry Grown?

Portfolio Management Services, or PMS, let a professional manager invest on behalf of a client in a personal portfolio. In a discretionary PMS, the manager takes the investment decisions for the client.

Pandey said the assets under management (AUM) of portfolio managers, leaving out PF and EPFO money, rose to about ₹9.2 lakh crore by August 2026. At the end of FY16, the same figure was ₹1.4 lakh crore. That is growth of around 20% a year.

Measure	Latest figure
AUM excluding PF and EPFO assets, August 2026	About ₹9.2 lakh crore
AUM excluding PF and EPFO assets, end of FY16	₹1.4 lakh crore
Registered portfolio managers	More than 530
Discretionary PMS clients	About 2.2 lakh

What the New Portfolio Managers Rules Allow

Pandey spoke about the new PMS framework approved by the SEBI Board on 24 September 2026. It is called the SEBI (Portfolio Managers) Regulations, 2026, and it replaces the 2020 regulations. SEBI says the aims are to develop the PMS industry, ease compliance, simplify language and remove redundant provisions.

SEBI’s press release (PR No. 59/2026) lists these key measures:

• Portfolio managers can invest in IPOs and in primary market debt issues.
• Up to 10% of client AUM can go into investment-grade, non-convertible, unlisted debt under discretionary PMS, with client consent.
• Exposure to exchange-traded derivatives can go up to 1.25 times of client AUM.
• Investment in foreign securities is allowed under both discretionary and non-discretionary PMS, within FEMA rules and the RBI’s Liberalised Remittance Scheme.
• Independent Fund Managers can run client portfolios in association with a registered portfolio manager, who stays fully responsible for them.

PRIM: A New Route to Mutual Funds

The most talked-about change is the Portfolio Managers Route for Investing in Mutual Fund units, or PRIM. It lets portfolio managers invest client money in direct plans of mutual funds.

These include ETFs, index funds and Specialised Investment Funds (SIFs) of Indian asset management companies. A direct plan is a mutual fund plan that does not carry distributor commission.

PRIM condition	Requirement
Minimum ticket size	₹25 lakh
Net worth for a new PRIM-only registration	₹2 crore
Management fee	Fixed fee capped at 1% of client AUM; performance-based fee also allowed
Investment in schemes of affiliated AMCs	Capped at 25%
Exit load	Provisions waived

An existing portfolio manager can offer PRIM through a separate investment approach and accept the ₹25 lakh minimum. A new applicant that will work only within PRIM needs a fresh registration. SEBI also wants the activities and clients of mutual fund distributors and PRIM kept separate, except for accredited investors.

Lighter Compliance for Smaller Portfolio Managers

The new rules also cut paperwork. SEBI says the regulations shrink from 70 pages to 33 pages, a reduction of 53%.

Even a graduate can now act as Principal Officer. Portfolio managers with AUM below ₹100 crore get relaxed dealing room requirements, and SEBI says 48% of registered portfolio managers fall in this group.

A standard Investment Management Agreement will be used for clients. Under it, authority to operate the client’s demat and trading account is built into the agreement.

The power of attorney for the bank account, which the RBI requires, stays separate. Clients who hand over such authority should still review their holdings and statements regularly.

Suitability, Not Just Eligibility

Pandey made a point about investor protection. A client may meet the minimum investment limit, he said, but eligibility and suitability are not the same thing. Portfolio managers understand a strategy’s concentration, liquidity, volatility and downside risks better than clients do, so they must understand each investor equally well.

He also said performance should be shown with context. That means stating the risks taken, the right benchmarks, portfolio concentration and drawdowns. A drawdown is the fall in a portfolio from its peak value to its lowest point.

Faster FPI Onboarding and Bond Indices

Pandey said SEBI and the RBI have already sorted out many issues in foreign portfolio investor (FPI) onboarding and want to go further. The steps he listed include:

• Onboarding within five working days has been tested for certain jurisdictions, with help from custodians and depositories.
• Documents can be filed with digital signatures, replacing physical signatures that earlier needed apostille or notarisation.
• The NSDL front end has been revamped, and an India Market Access portal now gives requirements, FAQs and documents in one place.
• Physical powers of attorney have moved to e-powers of attorney.
• The RBI has allowed corresponding branches of foreign commercial banks to certify documents, and it is examining whether the SWIFT process can be used to upload registration documents.

On bonds, Pandey said SEBI is working on bond indices that can be fitted on exchanges. The RBI has prepared draft guidelines and asked for comments, and SEBI is pursuing with the RBI to finalise them.

What It Means for Retail Investors

PMS and PRIM suit investors with larger sums, since PRIM alone needs ₹25 lakh. Most retail investors reach mutual funds through other routes. Those who prefer to manage money on their own can compare direct plans on an investing platform and invest in mutual funds online with smaller amounts.

The press release does not give an effective date for the new Portfolio Managers Regulations, 2026. Readers should watch for the SEBI notification, which will set the timeline for portfolio managers to adopt the changes.

Investments are subject to market risks. This is not investment advice.

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Coal India Ltd and Hindustan Urvarak & Rasayan Limited (HURL) have executed a non-binding memorandum of understanding to explore the development of a coal gasification-based urea production facility at Sindri, Jharkhand, the public sector coal miner disclosed in a regulatory filing on Monday, 28 September 2026. Coal India shares are among those in focus following the announcement.

The MoU marks an early-stage exploratory step toward converting coal into a feedstock for fertiliser production, a technology pathway India has been pursuing as part of its broader coal-to-chemicals and energy security strategy.

What the MoU Covers

As a non-binding memorandum of understanding, the agreement commits Coal India and HURL to jointly explore the feasibility of a coal gasification-based urea production project at Sindri, rather than establishing firm commitments on investment, capacity or timelines at this stage. Non-binding MoUs of this kind are typically followed by detailed feasibility studies before either party commits to a definitive, binding agreement.

Parameter	Details
Parties	Coal India Limited and Hindustan Urvarak & Rasayan Limited (HURL)
Agreement Type	Non-binding Memorandum of Understanding
Proposed Technology	Coal gasification-based urea production
Location	Sindri, Jharkhand
Disclosure Date	28 September 2026
Stage	Exploratory, feasibility to follow

What Coal Gasification Involves

Coal gasification is a process that converts coal into synthesis gas, a mixture primarily of carbon monoxide and hydrogen, which can then be used as a feedstock for producing various chemicals, including ammonia and, subsequently, urea, a widely used nitrogen fertiliser. This differs from directly burning coal for power generation, since gasification is aimed at producing a chemical feedstock rather than heat energy.

For India, which imports a significant share of its natural gas, the primary current feedstock for urea production, developing coal-based alternatives is seen as a way to reduce dependence on imported gas for fertiliser manufacturing, using the country’s relatively larger domestic coal reserves instead. Domestic coal reserves are substantially larger than India’s proven natural gas reserves, which is part of the strategic rationale behind exploring coal gasification as a fertiliser feedstock pathway over the long term.

• The MoU is non-binding and represents an early, exploratory stage of the potential project.
• Coal gasification converts coal into a chemical feedstock for urea production, distinct from coal-fired power generation.
• Sindri, Jharkhand, has a legacy as a fertiliser production hub in eastern India.
• The project fits India’s broader push to reduce natural gas import dependence for fertiliser manufacturing.

Why Sindri and HURL Are Relevant to This Plan

Sindri has a long-standing association with India’s fertiliser industry, having hosted fertiliser production facilities for decades. HURL itself is a joint venture entity formed to revive and modernise dormant fertiliser plants at several locations, including Sindri, as part of India’s push to restore domestic urea production capacity and reduce reliance on imports.

Coal India, as the world’s largest coal mining company, brings direct access to coal feedstock and mining expertise to a potential coal gasification project, while HURL brings established fertiliser manufacturing operations and site infrastructure at Sindri, making the pairing a logical fit for exploring this specific technology pathway at this specific location. HURL was formed through a joint venture involving Coal India, NTPC, IRCON International and Fertilizer Corporation of India, with a mandate to revive dormant urea production units, giving Coal India an existing institutional relationship with HURL predating this specific MoU.

What This Means for Coal India’s Diversification Strategy

Coal India has been exploring diversification beyond its core coal mining business into downstream applications, including coal gasification and coal-to-chemicals projects, as part of a broader strategy to add value to its coal output rather than solely selling raw coal. This MoU is consistent with that stated diversification direction, though it remains at a very early, non-binding stage, with the feasibility study phase likely to determine whether the project ultimately proceeds to a binding agreement.

• The MoU does not commit either party to specific investment amounts or capacity targets.
• Coal gasification projects typically require years of feasibility study, approvals and construction before commissioning.
• The partnership fits Coal India’s stated diversification strategy into downstream coal applications.
• HURL’s existing Sindri infrastructure could provide a head start relative to a greenfield site.

What Investors Should Watch Next

• Progress from this non-binding MoU toward a definitive, binding agreement
• Feasibility study outcomes and any disclosed capital expenditure estimates
• Regulatory and environmental approval processes for a coal gasification facility
• Broader updates on Coal India’s coal-to-chemicals diversification pipeline

Shareholders tracking Coal India through their holdings can watch for updates as this exploratory MoU progresses toward a feasibility study and, potentially, a binding agreement. Investors who open demat account online to track PSU and coal-sector stocks may also want to follow this project alongside Coal India’s other diversification initiatives when assessing the company’s longer-term growth strategy on a trading platform.

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KPI Green Energy has received a work order worth approximately ₹2,025 crore, inclusive of all taxes, from NACOF Oorja Private Limited, a subsidiary of the National Agricultural Cooperative Federation (NACOF), for the turnkey engineering, procurement and construction of a 500 MW / 550 MWp solar photovoltaic power project. The company disclosed the order in a regulatory filing on Monday, 28 September 2026.

KPI Green Energy shares are among those in focus following the disclosure, as the order adds substantially to the company’s engineering, procurement and construction (EPC) order book, one of the larger single contracts the company has disclosed this year.

What the Order Covers

The order covers a turnkey EPC contract, meaning KPI Green Energy will be responsible for the design, procurement of equipment, and construction of the entire solar power project, rather than supplying only a single component or service, giving the company full control over execution quality and timelines across the project’s build-out. The project has a stated capacity of 500 MW alternating current (AC), with a corresponding 550 MWp direct current (DC) capacity, a common way solar projects are sized given the difference between panel-rated and grid-delivered capacity.

Parameter	Details
Client	NACOF Oorja Private Limited (subsidiary of NACOF)
Order Value	About ₹2,025 crore, inclusive of all taxes
Contract Type	Turnkey EPC (engineering, procurement, construction)
Project Capacity	500 MW AC / 550 MWp DC
Technology	Solar photovoltaic
Disclosure Date	28 September 2026

Why the Order Is Significant for KPI Green Energy

An order of this scale materially expands KPI Green Energy’s EPC order book, giving the company long-term revenue visibility tied to a single large renewable energy project. Solar EPC contracts of this size typically span an execution period of one to two years, depending on land acquisition, grid connectivity approvals and equipment supply chain timelines, with revenue recognised progressively as construction milestones are achieved rather than in a single lump sum.

NACOF, the client behind this order through its subsidiary NACOF Oorja, is a national-level cooperative federation, and its involvement points to continued institutional and cooperative-sector investment in large-scale renewable energy infrastructure in India, alongside the more commonly seen private developer and public-sector utility-driven solar projects. Cooperative federations of this kind typically serve large member networks across agriculture and allied sectors, and their move into direct renewable energy investment reflects a broader trend of diverse institutional buyers entering India’s solar market beyond traditional power utilities and independent developers.

• The order value of ₹2,025 crore is a substantial single contract for the company.
• The project’s 500 MW AC capacity makes it a large-scale utility solar installation.
• NACOF Oorja’s cooperative-sector backing is a distinguishing feature of this particular client.
• Turnkey EPC contracts place full project execution responsibility with KPI Green Energy.

KPI Green Energy’s Position in India’s Solar Sector

KPI Green Energy has built a business model combining EPC services for third-party clients with its own independent power producer (IPP) operations, generating and selling solar power directly. Winning large third-party EPC contracts alongside its own generation assets gives the company two distinct revenue streams within the renewable energy value chain.

India’s solar EPC sector has seen substantial order activity through 2026, driven by the country’s ongoing renewable energy capacity addition targets and falling costs for solar equipment, making large-scale utility solar projects increasingly viable across a wider range of client types, including cooperative federations, public sector undertakings and private developers. Falling module and inverter costs over recent years have also improved project economics, allowing developers and EPC contractors to bid competitively on larger installations than would have been feasible even a few years earlier.

What This Means for Investors

Large EPC order wins provide near-term revenue visibility but depend on execution discipline to convert order-book value into realised revenue and profit over the contract period. Investors in EPC-focused renewable energy companies typically track order-book growth alongside execution timelines and margin performance on individual projects.

• Execution timeline and any phased completion milestones for the 500 MW project
• Margin performance on this order relative to KPI Green Energy’s typical EPC contract margins
• The company’s overall order book growth across both EPC and IPP segments
• Broader trends in India’s utility-scale solar EPC market through the rest of FY27

What Investors Should Watch Next

Shareholders tracking KPI Green Energy through their portfolio can watch for updates on the project’s execution progress, since large solar EPC contracts often see phased milestones disclosed over the following quarters rather than a single completion event. Investors who open demat account online to participate in India’s renewable energy sector may also want to track how this order compares with the company’s other recent EPC wins when assessing its overall growth trajectory on a trading platform.

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Global Health Limited, which operates hospitals under the Medanta brand, has acquired a 10,560-square-metre land parcel in Ghaziabad, Uttar Pradesh, for about ₹165.82 crore to set up a new hospital with more than 350 beds, the company disclosed in a regulatory filing on Monday, 28 September 2026. The acquisition adds a new facility to Medanta’s expanding hospital network in the National Capital Region.

Global Health shares are among those in focus following the disclosure, as the hospital chain continues its expansion strategy in high-growth urban markets around Delhi and the wider National Capital Region.

What the Land Acquisition Covers

The land parcel spans 10,560 square metres, and the company plans to develop a hospital with a capacity of more than 350 beds on the site. Ghaziabad, part of the National Capital Region, has seen significant real estate and infrastructure development in recent years, making it an increasingly attractive location for large-scale healthcare facilities serving a growing urban population.

Parameter	Details
Buyer	Global Health Limited (Medanta)
Land Area	10,560 square metres
Location	Ghaziabad, Uttar Pradesh
Consideration	About ₹165.82 crore
Planned Facility	Hospital with 350-plus beds
Disclosure Date	28 September 2026

Medanta operates a network of multi-speciality hospitals under its brand, with an established presence in Gurugram and other parts of the Delhi NCR region, alongside facilities in other Indian cities. A new facility in Ghaziabad would extend that network to another fast-growing part of the broader NCR healthcare market, adding to the company’s existing footprint rather than representing an entry into an entirely new region.

Why Ghaziabad Fits Medanta’s Expansion Strategy

Ghaziabad has grown rapidly as a residential and commercial hub adjacent to Delhi, with rising demand for quality healthcare infrastructure keeping pace with its expanding population. For a hospital operator, entering a market at an early stage of its healthcare infrastructure development can offer a first-mover advantage relative to waiting for a market to mature before committing capital.

A facility of more than 350 beds represents a substantial single-site investment, positioning it among the larger hospitals in the immediate region once developed and operational. Large multi-speciality hospitals of this scale typically take several years from land acquisition to full commissioning, given the specialised construction, equipment installation and regulatory approval processes involved. The exact construction timeline and expected commissioning date for the new hospital were not disclosed in the filing.

• The new hospital will have a planned capacity of more than 350 beds.
• The site sits in Ghaziabad, a fast-growing part of the Delhi NCR region.
• The transaction is a land purchase; construction and commissioning will follow in subsequent phases.
• No construction timeline or commissioning date was disclosed alongside the land purchase.

How This Fits Medanta’s Broader Growth Plans

This acquisition comes as India’s private hospital sector continues to expand capacity to meet rising demand for quality healthcare, particularly in and around major metropolitan areas where population growth and rising incomes are driving greater use of private healthcare facilities over public alternatives, a trend that has supported steady capacity expansion across the sector in recent years.

Separately, in comments reported around the same period, Malaysian healthcare group IHH Healthcare, the promoter of rival hospital chain Fortis Healthcare, reiterated plans to raise its own stake in Fortis to 51 per cent over three to five years, aiming to take Fortis’s total bed capacity to around 10,000 by 2031, illustrating the scale of expansion plans across India’s competitive private hospital sector more broadly.

What This Means for Global Health Shareholders

A land acquisition of this size signals continued capital deployment toward capacity expansion, a trend investors in the hospital sector typically track alongside occupancy rates, average revenue per operating bed and same-facility revenue growth at existing hospitals.

• The Ghaziabad acquisition adds to Medanta’s expansion pipeline in the NCR region.
• Construction and commissioning timelines will be key data points in future disclosures.
• The broader Indian private hospital sector continues to see capacity expansion from multiple large operators.
• Occupancy and revenue metrics at existing facilities remain relevant alongside new capacity announcements.

What Investors Should Track Next

• Formal construction and commissioning timeline disclosures for the Ghaziabad hospital
• Capital expenditure guidance tied to this and other expansion projects in company results
• Occupancy trends at Medanta’s existing NCR facilities as a gauge of underlying demand
• Broader competitive dynamics as multiple large hospital chains expand capacity in the same region

Shareholders holding Global Health stock who open free demat account to track healthcare-sector names can watch for construction updates and eventual commissioning timelines for the new Ghaziabad facility. Investors following the stock on a trading platform may also want to track how this expansion compares with capacity additions announced by competing hospital chains in the same broader NCR market.

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