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Metal shares witnessed buying demand for three consecutive trading sessions.
At 13:27 IST, the barometer index, the S&P BSE Sensex jumped 303.70 points or 0.41% to 74,625.53. The Nifty 50 index added 82.50 points or 0.36% to 23,353.60.
In the broader market, the Nifty Midcap 100 index rose 0.88%. The Nifty Smallcap 100 index rose 1.40%.
On the NSE, 2,276 shares were trading in green, while 1,202 shares were trading in red. A total of 102 shares were unchanged.
IPO Update:
National Stock Exchange of India (NSE) received bids for 8,48,73,944 shares as against 8,86,42,911 shares on offer, according to stock exchange data at 14:06 IST on 18 September 2026. The issue was subscribed 0.96 times.
The issue opened for bidding on 17 September 2026 and will close on 21 September 2026. The price band of the IPO is fixed between Rs 1,700 and 1,785 per share. An investor can bid for a minimum of 8 equity shares and multiples thereof.
Hero Motors received bids for 48,74,06,898 shares as against 8,86,07,596 shares on offer, according to stock exchange data at 14:06 IST on 17 September 2026. The issue was subscribed 5.50 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.
Buzzing Index:
The Nifty Metal index jumped 1.19% to Rs 13,012.10. The index jumped 2.71% in the three consecutive trading sessions
Welspun Corp (up 5.63%), Jindal Stainless (up 3.12%), Hindustan Zinc (up 2.39%), Hindustan Copper (up 2.27%), Adani Enterprises (up 2.04%), APL Apollo Tubes (up 2.01%), Lloyds Metals & Energy (up 1.56%), Steel Authority of India (up 1.52%), Vedanta (up 1.48%) and JSW Steel (up 1.14%) surged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.07% to 7.056 compared with the previous session close of 7.051.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.8750 compared with its close of 95.8975 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.78% to Rs 1,54,141.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 100.36.
The United States 10-year bond yield added 0.06% to 4.950.
In the commodities market, Brent crude for the November 2026 settlement declined $1.71 or 1.63% to $103.11 a barrel.
In the primary market, the NSE IPO was fully subscribed, while investors continued to track subscription trends in other ongoing issues and monitor the listing performance of recently listed companies.
Metal, media and realty shares advanced while IT, consumer durables and FMCG shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex shed 19.63 points or 0.03% to 74,294.96. The Nifty 50 index added 75.80 points or 0.33% to 23,346.40.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.30% and the BSE 250 SmallCap Index added 1.31%.
The market breadth was strong. On the BSE, 2,713 shares rose and 1,617 shares fell. A total of 230 shares were unchanged.
In the commodities market, Brent crude for the November 2026 settlement declined $1.44 or 1.37% to $103.38 a barrel. The United States 10-year bond yield added 0.26% to 4.958.
New Listing :
Shares of Veegaland Developers were at Rs 145 on the BSE, representing a premium of 3.57% as compared with the issue price of Rs 140.
The stock debuted at Rs 151 on the BSE, a premium of 7.86% over its issue price.
The stock has hit a high of Rs 153.95 and a low of Rs 143.45. On the BSE, over 10.93 lakh shares of the company were traded in the counter.
Initial Public Offer (IPO):
National Stock Exchange of India (NSE) received bids for 9,05,84,984 shares as against 8,86,42,911 shares on offer, according to stock exchange data at 15:30 IST on 18 September 2026. The issue was subscribed 1.02 times.
Jindal Supreme(India) received bids for 1,54,34,59,022 shares as against 93,99,600 shares on offer, according to stock exchange data at 15:30 IST on 18 September 2026. The issue was subscribed 164.20 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 88 and 93 per share. An investor can bid for a minimum of 161 equity shares and multiples thereof.
Hero Motors received bids for 57,11,81,886 shares as against 8,86,07,596 shares on offer, according to stock exchange data at 15:30 IST on 18 September 2026. The issue was subscribed 6.45 times.
SS Retail received bids for 77,60,68,300 shares as against 87,93,884 shares on offer, according to stock exchange data at 15:30 IST on 18 September 2026. The issue was subscribed 88.25 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.
Sonaselection India received bids for 81,74,400 shares as against 1,00,10,000 shares on offer, according to stock exchange data at 15:30 IST on 18 September 2026. The issue was subscribed 0.82 times.
The issue opened for bidding on 17 September 2026 and will close on 21 September 2026. The price band of the IPO is fixed between Rs 94 and 99 per share. An investor can bid for a minimum of 150 equity shares and multiples thereof.
Economy:
Moody’s Ratings raised its India GDP growth forecast for FY27 to 7% from 6%, citing stronger-than-expected economic momentum and resilience to disruptions from the Middle East conflict.
India’s real GDP growth accelerated to 8.2% YoY in the first six months of calendar 2026, supported by stronger private consumption, robust investment and sustained strength in services.
Moody’s retained India’s Baa3 sovereign rating with a stable outlook. The review, completed on 10 September, did not constitute a rating action.
The Nifty Metal index jumped 1.51% to 13,052.60. The index climbed 3.03% in the three consecutive trading sessions.
Welspun Corp (up 8.12%), APL Apollo Tubes (up 5.66%), Hindustan Zinc (up 4.14%), Vedanta (up 3.94%), Jindal Stainless (up 3.94%), Adani Enterprises (up 3.31%), Hindustan Copper (up 2.21%), JSW Steel (up 1.77%), Lloyds Metals & Energy (up 1.6%) and Steel Authority of India (up 1.33%) surged.
Stocks in Spotlight:
Concord Biotech added 2.27% after the company said that the U.S. Food and Drug Administration (US FDA) had successfully concluded the inspection of the company's Valthera Formulation Facility, with one minor procedural observation.
OnEMI Technology Solutions declined 1.20%. The company said that its board has approved a proposal to raise approximately up to Rs 832 crore through the issuance of equity shares on a preferential basis. The company stated that marquee investors, including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, White Oak, 360 One, Groww Mutual Fund, Bandhan Mutual Fund, have participated in the proposed preferential issue.
Gujarat Themis Biosyn advanced 1.29% after the company has announced the completion of the acquisition of 100% equity shareholding in MicroBiopharm Japan Co. (MBJ), Japan, through Themis Biosyn Japan, a wholly owned subsidiary incorporated in Japan.
Global Markets:
European markets traded lower while most Asian indices ended higher on Friday, following an overnight rally on Wall Street and a drop in crude oil prices.
The Bank of Japan raised its policy rate by 25 basis points to 1.25% from 1%, marking its highest level since 1995. The yen remained weak against the US dollar. The BOJ said the rate hike was aimed at addressing the risk of inflation rising above its 2% target.
In Europe, the Bank of England kept UK interest rates unchanged at 3.75% on Thursday in a 6-3 vote. The central bank maintained a cautious stance, with three policymakers voting for a 25-basis-point increase amid concerns that higher energy prices could generate further inflationary pressure.
US stock market ended higher on Thursday amid easing oil prices, dropping Treasury yields after strong labour data. The Dow Jones Industrial Average rallied 0.61%, while the S&P 500 gained 1.14%. The Nasdaq Composite closed 1.69%.
The rally in US technology stocks lifted the Nasdaq index. Nvidia stock price surged 2.54%, AMD shares jumped 6.36%, Intel share price spiked 7.67%, Apple stock price rose 1.38%, Microsoft shares gained 1.52%, and Amazon share price rallied 2.13%.
Crude oil prices extended losses for a third session on hopes of limited supply disruption. Reports emerged of additional Saudi crude shipments through Oman, easing supply worries.
Welspun Corp Ltd is up for a third straight session today. The stock is quoting at Rs 2549.4, up 3.62% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.24% on the day, quoting at 23325.6. The Sensex is at 74505.4, up 0.26%. Welspun Corp Ltd has gained around 29.16% in last one month.
Meanwhile, Nifty Metal index of which Welspun Corp Ltd is a constituent, has gained around 0.33% in last one month and is currently quoting at 12858.45, up 0.94% on the day. The volume in the stock stood at 13.34 lakh shares today, compared to the daily average of 33.84 lakh shares in last one month.
The PE of the stock is 88.13 based on TTM earnings ending June 26.
Welspun Corp has received a communication from its wholly-owned subsidiary viz. Welspun DI Pipes (WDI) that the Board of Directors of WDI at its meeting held on 11 September 2026 has considered and approved incorporation of a wholly owned subsidiary in the name of ‘Welspun Special Coating'.
Accordingly, on incorporation, the said company shall become a step-down wholly owned subsidiary of WCL.
The proposed company shall be incorporated with the object, to carry on the business of applying, providing, executing and undertaking all types of coating works including but not limited to polyolefin, polymers, fusion bonded epoxy, internal fusion bonded epoxy, epoxy, polyurethane, polyethylene, polypropylene, coal tar, blasting, painting, anti-corrosive, anti-rust, abrasion resistant, heat-resistant and other protective or functional coatings or any combination thereof.
The brokerage said Welspun Corp is well positioned to benefit from a multi-year upcycle in oil and gas infrastructure spending in the US and the Middle East, supported by its local manufacturing presence in both regions.
It expects the company to deliver a 17% volume CAGR and 32-33% EBITDA and EPS CAGR over FY26-29E. The growth is expected to be driven by capacity expansion, a strong order book and an improving business mix.
The brokerage expects earnings growth to be supported by a 51% expansion in capacity across the US and Saudi Arabia, along with a rising contribution from the company's higher-margin overseas business.
Welspun Corp's order book stood at Rs 42,100 crore, equivalent to around 2.5 times its FY26 revenue, providing strong visibility on future revenue, according to the brokerage.
The brokerage expects the company's net cash position to increase from Rs 1,400 crore at the end of FY26 to Rs 3,900 crore by FY29E. It also noted that the company generated a 21% return on equity (ROE) during FY24-26 and expects this to improve to 22-23% over FY27-29E.
At 18 times one-year forward EV/EBITDA, the brokerage believes Welspun Corp's valuation remains reasonable. While the multiple has expanded in 2026, it believes a premium valuation is justified by the company's strong earnings growth outlook, robust order book and high ROEs.
The brokerage also said Welspun Corp appears reasonably valued compared with US energy infrastructure beneficiaries when assessed against its EBITDA growth and price-to-book valuation relative to ROE.
Key risks to the brokerage's view include slower-than-expected order inflows and delays in capacity expansion.
Welspun Corp has a diversified portfolio spanning line pipes, ductile iron pipes, stainless steel bars, pipes and tubes, and TMT rebars. It also houses Sintex, a brand focused on water storage tanks and advanced plastic piping solutions. The company serves customers across more than 50 countries on six continents, supported by manufacturing facilities in India, the US and Saudi Arabia.
The company's consolidated net profit surged 198.64% to Rs 1046.49 crore on a 14.91% rise in revenue to Rs 4081.12 crore in Q1 FY27 over Q1 FY26.
Welspun Corp Ltd, IIFL Finance Ltd, NCC Ltd, Maharashtra Seamless Ltd are among the other stocks to see a surge in volumes on BSE today, 21 August 2026.
JBM Auto Ltd recorded volume of 5.77 lakh shares by 10:46 IST on BSE, a 22.47 times surge over two-week average daily volume of 25693 shares. The stock gained 7.48% to Rs.670.00. Volumes stood at 14937 shares in the last session.
Welspun Corp Ltd saw volume of 5.17 lakh shares by 10:46 IST on BSE, a 15.67 fold spurt over two-week average daily volume of 33021 shares. The stock increased 13.74% to Rs.2,279.50. Volumes stood at 96897 shares in the last session.
IIFL Finance Ltd registered volume of 3.92 lakh shares by 10:46 IST on BSE, a 7.42 fold spurt over two-week average daily volume of 52836 shares. The stock rose 7.18% to Rs.682.80. Volumes stood at 47837 shares in the last session.
NCC Ltd witnessed volume of 9.04 lakh shares by 10:46 IST on BSE, a 7.37 times surge over two-week average daily volume of 1.23 lakh shares. The stock increased 5.14% to Rs.147.30. Volumes stood at 1.01 lakh shares in the last session.
Maharashtra Seamless Ltd recorded volume of 32497 shares by 10:46 IST on BSE, a 5.34 times surge over two-week average daily volume of 6087 shares. The stock gained 5.61% to Rs.645.20. Volumes stood at 4334 shares in the last session.
The said order would be supplied from the company's manufacturing facility in the United States of America. The order will be executed between FY 2028 & FY 2029.
With this order, the company's global order book stands at a record $4.4 billion (or approximately Rs 42,100 crore), the highest in its history.
'This order substantially strengthens the company's order book, enhances multi-year revenue visibility, and stands as a strong validation of the scale, quality, and execution capability of its operations,' Welspun Corp said in a statement.
Welspun Corp is one of the largest manufacturers of large-diameter pipes globally and has established a global footprint across six continents and fifty countries by delivering key customised solutions for both onshore and offshore applications.
The company's consolidated net profit surged 198.64% to Rs 1046.49 crore on a 14.91% rise in revenue to Rs 4081.12 crore in Q1 FY27 as compared with Q1 FY26.
Welspun Enterprises Ltd, Thomas Cook (India) Ltd, Cartrade Tech Ltd and Jindal Saw Ltd are among the other gainers in the BSE's 'A' group today, 21 August 2026.
Welspun Corp Ltd soared 15.91% to Rs 2323 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 8.04 lakh shares were traded on the counter so far as against the average daily volumes of 42772 shares in the past one month.
Welspun Enterprises Ltd surged 10.09% to Rs 644. The stock was the second biggest gainer in 'A' group. On the BSE, 1.4 lakh shares were traded on the counter so far as against the average daily volumes of 10232 shares in the past one month.
Thomas Cook (India) Ltd spiked 9.06% to Rs 110.8. The stock was the third biggest gainer in 'A' group. On the BSE, 2.98 lakh shares were traded on the counter so far as against the average daily volumes of 79340 shares in the past one month.
Cartrade Tech Ltd exploded 7.99% to Rs 3126.65. The stock was the fourth biggest gainer in 'A' group. On the BSE, 71444 shares were traded on the counter so far as against the average daily volumes of 27444 shares in the past one month.
Jindal Saw Ltd gained 7.60% to Rs 290.1. The stock was the fifth biggest gainer in 'A' group. On the BSE, 2.73 lakh shares were traded on the counter so far as against the average daily volumes of 81426 shares in the past one month.
The order will be executed between FY 2028 & FY 2029.
With this order, the company's global order book stands at a record USD 4.4 billion (Rs 42,100 crore) — the highest in its history.
Welspun Corp Ltd, NCC Ltd, Jindal Saw Ltd, Cartrade Tech Ltd are among the other stocks to see a surge in volumes on NSE today, 21 August 2026.
JBM Auto Ltd saw volume of 108.72 lakh shares by 14:14 IST on NSE, a 58.26 fold spurt over two-week average daily volume of 1.87 lakh shares. The stock increased 6.83% to Rs.665.95. Volumes stood at 1.65 lakh shares in the last session.
Welspun Corp Ltd witnessed volume of 167.55 lakh shares by 14:14 IST on NSE, a 26.38 times surge over two-week average daily volume of 6.35 lakh shares. The stock increased 14.58% to Rs.2,297.50. Volumes stood at 7.49 lakh shares in the last session.
NCC Ltd notched up volume of 179.08 lakh shares by 14:14 IST on NSE, a 13.17 fold spurt over two-week average daily volume of 13.60 lakh shares. The stock rose 7.29% to Rs.150.28. Volumes stood at 22.24 lakh shares in the last session.
Jindal Saw Ltd witnessed volume of 105.46 lakh shares by 14:14 IST on NSE, a 11.22 times surge over two-week average daily volume of 9.40 lakh shares. The stock increased 9.12% to Rs.294.35. Volumes stood at 7.17 lakh shares in the last session.
Cartrade Tech Ltd witnessed volume of 18.63 lakh shares by 14:14 IST on NSE, a 8.71 times surge over two-week average daily volume of 2.14 lakh shares. The stock increased 6.35% to Rs.3,079.00. Volumes stood at 5.95 lakh shares in the last session.