..... . VALI disclosures . .....: 10/09/26, PostMarket REPORT

Thursday, September 10, 2026

10/09/26, PostMarket REPORT

The domestic equity market traded on a subdued note by midday on September 10, with the Nifty 50 hovering around 23,460 and the BSE Sensex above 74,850. Crude oil prices moving above $100 a barrel remained a key concern for the market, while several stocks gained on company-specific orders, business updates and product developments.

Here are the top movers and shakers at this hour –

Infrastructure

Enviro Infra Engineers share price was trading 1.88% higher by midday after its step-down subsidiary Suyog Urja received a Rs224.19 crore letter of intent from Tata Power Renewable Energy for EPC turnkey work on a 180 MW NTPC wind power project at Parli, Maharashtra. The project includes foundations for 58 wind turbine generators, balance-of-plant work, a storage yard, access roads and a 33 kV transmission line, with execution scheduled by March 31, 2027.

IRB Infrastructure Developers share price was up 2.83% by midday after the company reported a 25% year-on-year rise in toll revenue to Rs807 crore in August, compared with Rs646 crore a year earlier. IRB MP Expressway contributed Rs172 crore, while IRB Golconda Expressway and IRB Ahmedabad Vadodara Super Express Tollway contributed Rs88 crore and Rs80 crore, respectively.

Shakti Pumps

Shakti Pumps (India) Ltd. share price gained 9.43% by midday after the company disclosed a Rs235.92 crore order from Maharashtra State Electricity Distribution Company for 10,000 off-grid solar photovoltaic water pumping systems.

The order covers 3 HP, 5 HP and 7.5 HP pumps under the Magel Tyala Saur Krushi Pump Yojana and includes supply, transportation, installation, testing and commissioning, with execution expected within 60 days. The order is equivalent to about 27% of the company’s consolidated revenue of Rs858.67 crore reported for the April-June quarter of FY27.

Ather Energy

Ather Energy Ltd. share price gained 4.3% by midday as market attention remained focused on its new Konarc electric scooter and the company’s growth prospects. The model, launched in August, is built on Ather’s new EL platform and fifth-generation Bedrock battery pack, which comes with a 10-year or 1,00,000-km warranty. The company also reduced its Q1 FY27 net loss to Rs51.09 crore from Rs178.23 crore a year earlier, while revenue grew nearly 89%.

Oil Producers

Oil And Natural Gas Corporation Ltd. share price gained over 2% by midday, while Oil India share price also advanced over 2% as Brent crude moved above $100 a barrel following rising concerns over supply disruptions in the Middle East. Higher crude prices can support realisations for upstream producers, although the impact also depends on production levels and other operating factors.

Oil Marketing Companies

Indian Oil Corporation share price was nearly flat by midday, while Bharat Petroleum Corporation Ltd. gained 0.26% and Hindustan Petroleum rose 1% as the market assessed the impact of crude prices above $100 a barrel. Higher crude costs can pressure refining and marketing margins if fuel prices are not adjusted quickly enough to pass through the increase.

Paint stocks

Asian Paints Ltd. share price declined 0.55% by midday, while Indigo Paints fell 1.28% as higher crude prices raised concerns over input costs for paints and related petroleum-based raw materials. The effect on margins will depend on the ability of companies to manage costs and pass higher expenses through pricing.

Tyre stocks

Apollo Tyres Ltd. share price declined 1.22% by midday, while MRF share price gained 0.32% as the tyre sector reacted to crude prices above $100 a barrel. Higher oil prices can raise the cost of synthetic rubber and other petroleum-linked inputs, putting pressure on margins if the increase is not offset through pricing or cost management.

Aviation stocks

InterGlobe Aviation Ltd. share price declined 0.74% by midday, while Spicejet Ltd. fell 0.64% as crude oil prices crossed the $100-a-barrel mark. Aviation turbine fuel is a major operating expense for airlines, making a sustained increase in crude prices a potential pressure on operating costs and profitability.

Reliance Industries

Reliance Industries Ltd. share price was affected by the mixed impact of higher crude prices on its integrated business. Its upstream oil operations can benefit from stronger crude realisations, while higher feedstock costs can weigh on petrochemicals, leaving the overall impact dependent on refining and petrochemical margins.

ESDS Software Solution

ESDS Software Solution share price gained 10% by midday, extending its post-listing rally and hitting the upper circuit for the second consecutive session at the revised 10% limit. The stock has risen sharply from its Rs429 IPO issue price since listing, with the company attracting strong market interest following its debut and subsequent upper-circuit sessions.

Written by Siwangini Gupta

Source: Financial Express

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Trade Cycles

The four important features of Trade Cycle are (i) Recovery, (ii) Boom, (iii) Recession, and (iv) Depression!

The trades cycle or business cycle are cyclical fluctuations of an economy. A full trade cycle has got four phases: (i) Recovery, (ii) Boom, (iii) Recession, and (iv) depression. The upward phase of a trade cycle or prosperity is divided into two stages—recovery and boom, and the downward phase of a trade cycle is also divided into two stages—recession and depression.

Phases of Trade Cycle:

The phases of trade cycle are explained with a diagram:

(1) Recovery:

In the early period of recovery, entrepreneurs increase the level of investment which in turn increases employment and income. Employment increases purchasing power and this leads to an increase in demand for consumer goods.

As a result, demand for goods will press upon their supply and it shall, thereby, lead to a rise in prices. The demand for consumer’s goods shall encourage the demand for producer’s goods.

The rise in prices shall depend upon the gestation period of investment. The longer the period of investment, the higher shall be the price rise. The rise of prices shall bring about a change in the distribution of income. Rent, wages, interest do not rise in the same proportion as prices.

Consequently, the margin of profit improves. The wholesale prices rise more than retail prices. The prices of raw materials rise more than the prices of semi-finished goods and the prices of semi-finished goods use more than the prices of finished goods.

(2) Boom:

The rate of investment increases still further. Owing to the spread of a wave of optimism in business, the level of production increases and the boom gathers momentum. More investment is possible only through credit creation. During a period of boom, the economy surpasses the level of full employment and enters a stage of over full employment.

(3) Recession:

The orders for raw materials are reduced on the onset of a recession. The rate of investment in producers’ goods industries and housing construction declines. Liquidity preference rises in society and owing to a contraction of money supply, the prices falls. A wave of pessimism spreads in business and those markets which were sometime before sellers markets become buyer’s markets now.

(4) Depression:

The main feature of a depression is a general fall in economic activity. Production, employment and income decline. The prices fall and the main factor responsible for it is, a fall in the purchasing power.

The distribution of national income changes. As the costs are rigid in nature, the margin of profit declines. Machines are not used to their full capacity in factories, because effective demand is much less. The prices of finished goods fall less than the prices of raw materials.

✳Reality Tips to Traders

1)Trading in the stock market is a marathon. 2)Protecting your capital is key. (Learn to protect first) 3)Making 0 on the day is better than losing 50k 4)Losses happen; they are part of this business. 5)It’s not you vs. the market. It’s you VS you. 6)You are your biggest enemy; learn to be mentally disciplined. 7)Don’t follow the majority; follow the correct path. 8)Traders without a stop loss end up not being traders for long. 9)There is always another trade. 10)The big money is made waiting for the right set-ups. 11)Waiting for the right trade is the most powerful strategy. 12)It is better to cut a loss than to wait to be proven right. 13)Position sizing can make or break you. 14)Worry about the downside before you even think about the upside. 15)Don’t listen to headlines

..BANKING TERMINOLOGY

There are various types of Banks: PSU Banks, Private Banks, Co-operative/Regional Banks, Small Finance Banks and Foreign Banks. When you deposit money in a bank, let's say the bank gives you an interest rate of 4%. But when the bank lends out this money, they lend it out at say, 12%. The difference of 8% in the above scenario is effectively the profit of the bank! The loans that do not pay interest for 90 days are known as Non-performing Assets. Banks have to provide for such bad loans. Structure of a Bank Asset for a Bank: The asset portion of a bank's capital includes cash, government securities, and interest-earning loans (e.g., mortgages, letters of credit, and inter-bank loans). Liabilities for a Bank: The bank's main liabilities are its capital (including cash reserves and, often, subordinated debt) and deposits. The latter may be from domestic or foreign sources (corporations and firms, private individuals, other banks, and even governments). Banks are required to maintain Liquidity with the Reserve Bank of India: SLR (Statutory Liquidity Ratio): It is the money a bank needs to preserve in the form of cash, gold or government Bonds before providing credit customers. This limitation is added by RBI on banks to make funds available to customers on-demand at your earliest convenience. Banks are required to maintain SLR at 18%. CRR (Cash Reserve Ratio): Banks are required to hold a certain proportion of their deposits in the form of cash. Banks don’t hold these as cash with themselves, but deposit such amounts with RBI / currency chests. CRR rate is at 4.5% currently. Repo Rate: The rate at which the RBI lends short-term money to the banks. The RBI through its Monetary Policy committee changes the repo rate to balance growth and Inflation. Reverse Repo rate: The rate at which banks park their short-term excess liquidity with the RBI. Now let us understand various terminologies for Banks Net Interest Income (NII): This is the spread the bank makes on its lending. It is calculated as Interest Income – Interest Expended Net Interest Margin (NIM): This is the spread the bank makes on its lending. It is the earning which is left after deducting the cost paid to depositors from its yields on Loans. This is denoted in % terms. The formula is Yield on Loans – Cost of funds Capital Adequacy Ratio (CAR): The capital adequacy ratio (CAR) is a measure of a bank's available capital expressed as a percentage of a bank's risk-weighted credit exposures. Essentially, it is the Capital that is available to lend. Tier I Capital – In simple words this capital is freely available with the bank to lend out. Tier II Capital- This is the capital tied up somewhere and is less freely available to lend. In case of an adverse event, the bank can use this capital to lend. Under Basel III norms, a bank’s tier 1+tier 2 capital must be a minimum of 8% of its risk-weighted holdings. The minimum capital adequacy ratio, also including the capital conservation buffer, is 10.5%. Current Account Saving Account (CASA)- There is no interest paid on the Current Account and a small interest rate is paid on a savings account. The combination of both is called CASA which shows the liabilities of the bank on which it pays relatively less interest. Deposits: Bank deposits are a savings product that customers can use to hold an amount of money at a bank for a specified length of time. In return, the financial institution will pay the customer the relevant amount of interest, based on how much they choose to deposit and for how long. Now let us come to NPA. Gross NPA (GNPA): It is the total loans on which no payment has been paid for 90 days or more. GNPA % is usually shown in each Bank’s quarterly results. The percentage is basically the GNPA amount as a % of the total advances. Slippages: Slippages denote the fresh amount of loans that have turned bad in a year. The slippage ratio of a bank is calculated as Fresh accretion of NPAs during the year /Total standard assets at the beginning of the year multiplied by 100. Provisioning Coverage Ratio (PCR): This is the ratio of provisioning to GNPA and indicates the extent of funds a bank has kept aside to cover loan losses. For Instance, a company has GNPAs of Rs 100 and they have set aside 50 Rs, then the PCR is 50%. Net NPA (NNPA): The total figure left after deducting provisions made for bad loans from GNPA. (GNPA – Provisions+upgrades/writeoffs = NNPA) Special Mention Account (SMA) SMA-0 is a category in which stress with respect to the principal and interest has remained overdue for a period of 0 to 30 days. SMA-1 is a category in which stress with respect to the principal and interest has remained overdue for a period of 30-60 days. SMA-2 is a category in which stress with respect to the principal and interest has remained overdue for a period of 60-90 days

..... . VALI disclosures . .....

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Thursday, September 10, 2026

10/09/26, PostMarket REPORT

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