Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 332.63 points or 0.45% to 74,336.45. The Nifty 50 index added 99 points or 0.43% to 23,217.60. In the past two consecutive trading sessions the Sensex and Nifty declined 1.20% and 1.53%, respectively.
In the broader market, the BSE 150 MidCap Index rose 0.07% and the BSE 250 SmallCap Index shed 0.13%.
The market breadth was negative. On the BSE, 1,990 shares rose and 2,344 shares fell. A total of 253 shares were unchanged.
The United States 10-year bond yield shed 0.04% to 4.994.
Economy:
India's Unified Payments Interface (UPI) will roll out a targeted Merchant Discount Rate (MDR) regime effective 15 October 2026, ending a years-long blanket zero-MDR policy to build a self-sustaining funding base for network infrastructure, cybersecurity, and platform scalability.
Under the new guidelines notified by the National Payments Corporation of India (NPCI) and the Reserve Bank of India, a standard 0.4% MDR—capped at Rs 300 for high-ticket purchases—will apply strictly to commercial person-to-merchant (P2M) payments above Rs 2,000, while essential utilities and fuel will draw a flat Rs 5 fee and capital market transfers are levied at 0.02%.
Retail consumers and individual peer-to-peer (P2P) transfers remain entirely insulated from charges, as do small merchants processing under Rs 1 lakh a month and all transactions up to Rs 2,000, which together account for over 95% of daily UPI transaction volumes.
India’s current account deficit widened to $11.2 billion during April-July 2026 from $6.6 billion in the corresponding period a year earlier, mainly due to a higher merchandise trade deficit. The Merchandise trade gap increased to $117.8 billion from $97.1 billion recorded in a year ago, as imports grew faster than exports. Meanwhile, net services receipts rose to $69.3 billion from $64.3 billion in April-July 2025.
New Listings:
Shares of Kanohar Electricals were at Rs 753.60 on the BSE, representing a premium of 19.24% as compared with the issue price of Rs 632.
The stock debuted at Rs 672.05 on the BSE, a premium of 6.34% over its issue price.
The stock has hit a high of Rs 786.95 and a low of Rs 672.05. On the BSE, over 23.80 lakh shares of the company were traded in the counter.
Shares of Glass Wall Systems (India) were at Rs 215.55 on the BSE, representing a premium of 18.43% as compared with the issue price of Rs 182.
The stock debuted at Rs 190.10 on the BSE, a premium of 4.45% over its issue price.
The stock has hit a high of Rs 228.10 and a low of Rs 185.05. On the BSE, over 45.09 lakh shares of the company were traded in the counter.
Shares of Prasol Chemicals were at Rs 672.05 on the BSE, representing a discount of 0.85% as compared with the issue price of Rs 676.
The stock debuted at Rs 611 on the BSE, a discount of 9.62% over its issue price.
The stock has hit a high of Rs 672.05 and a low of Rs 600.50. On the BSE, over 3.50 lakh shares of the company were traded in the counter.
IPO Update:
Manika Plastech received bids for 55,07,98,740 shares as against 2,13,86,919 shares on offer, according to stock exchange data at 15:30 IST on 16 September 2026. The issue was subscribed 25.75 times.
The issue opened for bidding on 11 September 2026 and will close on 16 September 2026. The price band of the IPO is fixed between Rs 40 and 43 per share. An investor can bid for a minimum of 348 equity shares and multiples thereof.
Jindal Supreme(India) received bids for 5,96,27,799 shares as against 93,99,600 shares on offer, according to stock exchange data at 15:30 IST on 16 September 2026. The issue was subscribed 6.34 times.
The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 88 and 93 per share. An investor can bid for a minimum of 161 equity shares and multiples thereof.
Hero Motors received bids for 10,65,44,214 shares as against 8,86,07,596 shares on offer, according to stock exchange data at 15:30 IST on 16 September 2026. The issue was subscribed 1.20 times.
The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 79 and 84 per share. An investor can bid for a minimum of 178 equity shares and multiples thereof.
SS Retail received bids for 1,04,84,320 shares as against 87,93,884 shares on offer, according to stock exchange data at 15:30 IST on 16 September 2026. The issue was subscribed 1.19 times.
The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 403 and 424 per share. An investor can bid for a minimum of 35 equity shares and multiples thereof.
Buzzing Index:
The Nifty FMCG index rose 1.63% to 45,559. The index fell 2.01% in the past four trading sessions.
Patanjali Foods (up 7.43%), Colgate-Palmolive (India) (up 2.78%), Marico (up 2.73%), ITC (up 2.62%) and Radico Khaitan (up 1.99%), United Spirits (up 1.69%), Nestle India (up 1.63%), Tata Consumer Products (up 1.49%), Britannia Industries (up 1.49%) and Hindustan Unilever (up 1.44%) surged.
Stocks in Spotlight:
BMW Ventures shed 0.52%. The company secured two purchase orders worth Rs 72.94 crore from Tata Projects. The orders cover the supply of TMT steel of FE-550D grade for the 3X800MW USCTPP-ADANI Project. The order value includes all taxes.
Equitas Small Finance Bank rose 1.01% after the bank said that its board has approved a proposal to raise funds aggregating to Rs 500 crore through the issuance of non-convertible debentures.
Alkem Laboratories rose 0.18%. The company has announced the launch of NeuCeno (cenobamate), anti-seizure medication (ASM) for the treatment of partial-onset seizures in adult patients.
Praj Industries fell 1.04%. The company said that it signed a development & commercialization agreement for bio-isobutanol (Bio-IBA) technology in India. Under the agreement, Praj will lead the commercialization of Bio-IBA technology in India, with exclusive rights to deploy the technology in the country.
Allied Blenders and Distillers advanced 0.74%. The company said that it has been granted a licence for manufacture of malt spirits for potable purpose by the Commissioner of Prohibition and Excise, Telangana, Hyderabad.
Global Markets:
European equities advanced higher despite a rise in UK inflation. UK consumer price inflation accelerated to 3.1% in August compared with 2.9% inflation in July, marking the first reading above 3% since March, driven largely by a sharp increase in motor fuel prices.
According to the Office for National Statistics (ONS), motor fuel prices surged 23% year-on-year in August, contributing significantly to the acceleration in headline inflation. The inflation data comes ahead of the Bank of England’s monetary policy decision scheduled for Thursday, with investors assessing the implications for the central bank’s interest-rate outlook.
Most Asian equity benchmarks ended higher on Wednesday, supported by regional gains ahead of the US Federal Reserve's monetary policy announcement. The upward movement occurred alongside elevated crude oil prices and higher US Treasury yields.
In Japan, trade deficit widened significantly to JPY 1,105.6 billion in August 2026 from JPY 294.1 billion a year earlier. It marked the fourth consecutive month of deficit and the largest since January, as imports grew faster than exports. Imports surged 28.0% year-on-year to JPY 11,153.9 billion, following a 27.9% rise in July, marking the strongest growth since November 2022. Exports rose 19.3% to JPY 10,048.4 billion.
US indices declined on Tuesday, driven by positioning ahead of the Federal Reserve meeting and rising bond yields. The Dow Jones Industrial Average fell 328.09 points, or 0.63%, to 52,093.11; the S&P 500 declined 0.45% to 7,585.73; and the Nasdaq Composite dropped 0.78% to 25,981.57. Certain technology shares recorded advances, with Qualcomm gaining over 4%, and Advanced Micro Devices and Coherent each rising approximately 2%.
The Federal Reserve is scheduled to release its interest rate decision on Wednesday. Market pricing reflects expectations of a 25-basis-point increase from the existing target range of 3.5% to 3.75%. Market attention is focused on the policy statement and accompanying commentary regarding inflation, economic conditions, and projected interest rate adjustments.
BMW Ventures said the orders carry 100% advance payment terms, including GST. The company will execute and deliver the orders within eight weeks from the purchase order date.
BMW Ventures is engaged in steel trading and distribution. It also manufactures PVC pipes and roll-formed products and undertakes fabrication of pre-engineered buildings and RDSO-approved steel girders. Headquartered in Patna, the company operates six stockyards and serves 29 districts across Bihar through 1,299 dealers. Its manufacturing and fabrication units have a combined installed capacity of over 27,800 MT per annum.
The company’s standalone net profit rose 32% to Rs 10.58 crore on a 26% rise in revenue from operations to Rs 608.90 crore in Q1 June 2026 over Q1 June 2025.
BMW Ventures clarified that the transaction does not constitute a related-party transaction and that neither the promoters nor the promoter group companies have any interest in the work contract.
BMW Ventures is primarily engaged in the trading and distribution of steel products, tractor engines and spare parts, manufacturing of PVC pipes and roll forming and the fabrication of pre-engineered buildings (PEB) and steel girders.
The company’s standalone net profit rose 44.8% to Rs 11.50 crore on a 16.1% rise in revenue from operations to Rs 563.17 crore in Q3 FY26 over Q3 FY25.
The counter shed 0.35% to Rs 56.80 on the BSE.