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Indian benchmark indices snapped their six-day winning streak, heading lower by mid-morning amid widespread profit-taking. At around 10:27 a.m., the Sensex was down approximately 400 points, while the Nifty hovered just under the 24,950 mark. Pressure from auto, banking, metal, and IT sectors dragged the benchmarks lower, while the broader market also mirrored weak trends.

At the opening bell, the Nifty 50 dipped about 0.3 percent to around 25,015, while the Sensex declined by a similar margin to 81,794. The cautious start reflected investor hesitation after a strong week-long rally, with participants choosing to book profits at elevated levels. Analysts suggested that the rally had run into resistance on the back of global trade concerns. Rising risks of a 25 percent U.S. tariff, which now appears increasingly likely, have heightened investor anxiety. Experts noted that if implemented, such a levy could impact India’s growth outlook more severely than earlier projected. While reciprocal tariffs were previously expected to shave 20–30 basis points off growth, the broader implications may be more significant. However, the relative resilience of large-cap stocks is being viewed as a positive trend, one that provides stability in a volatile environment.

Sectoral performance remained mixed. Defensive segments such as pharmaceuticals, media, energy, and consumer durables posted modest gains, while FMCG and real estate stocks were largely flat. In contrast, metals, banking, IT, oil and gas, and auto shares came under selling pressure, pulling the broader indices down. The India VIX rose by nearly 2 percent, reflecting a pick-up in volatility. Midcap and smallcap indices also traded in the red, showing that the weakness extended beyond large-cap counters.

Among individual stocks, Apollo Hospitals Enterprises slipped about 1 percent after promoter and managing director Suneeta Reddy sold 1.32 percent of her stake through a block transaction. The deal, involving close to 19 lakh shares worth nearly ₹1,489 crore, was executed at a floor price of ₹7,850 per share, according to exchange data. Hindustan Unilever also edged lower after announcing a major leadership change. The company said Niranjan Gupta will take over as Chief Financial Officer and Executive Director (Finance) from November 1, succeeding Ritesh Tiwari, who has been elevated as Global Head of M&A and Treasury at Unilever Plc.

Despite the weakness, the technical outlook for Nifty remains constructive. Analysts pointed out that the index continues to form higher lows, suggesting steady buying support. They added that while the market may enter a consolidation phase, a sustained move above 25,150 could trigger another leg higher toward 25,250, potentially leading to short-covering by call writers. The support zone has shifted upward, with the 24,850 to 25,000 band now acting as a key demand area. Unless the index decisively breaches these levels, market participants expect the bulls to retain control. Traders continue to prefer a buy-on-dips strategy while waiting for a breakout above 25,150 to confirm fresh upward momentum.

In terms of stock movers, L&T, Bajaj Finance, M&M, Jio Financial Services, and Cipla were among the top gainers on the Nifty. On the losing side, SBI Life Insurance, Grasim, Hero MotoCorp, Asian Paints, and HCL Technologies were the major drags, reflecting the mixed sentiment across sectors.

The Telangana Housing Board (TGHB) has successfully auctioned a prime 7.8-acre residential land parcel in Hyderabad’s Kukatpally Housing Board (KPHB) Colony, generating ₹547 crore in revenue. Godrej Properties secured the plot with a winning bid of ₹70 crore per acre, significantly surpassing the base price of ₹40 crore per acre.

A High-Stakes Bidding War

The auction saw intense participation from leading developers including Aurobindo Realty, Prestige Estates, and Ashoka Builders. However, it was Godrej Properties that emerged victorious, reinforcing its growing footprint in the Hyderabad real estate market.

The land parcel is strategically located next to a 60-foot-wide road, which is set to be expanded to 120 feet as part of upcoming infrastructure improvements. Its proximity to HITEC City and key IT corridors made it one of the most sought-after real estate offerings in recent times.

Godrej Properties' Vision for the Site

Godrej Properties is expected to launch a premium residential project on the site, with an estimated revenue potential of ₹3,800 crore. The company will receive the official allotment following completion of formal procedures. The project's upscale development plans aim to leverage the area's excellent connectivity and rising housing demand.

A Windfall for Public Housing

For the Telangana Housing Board, the ₹547 crore windfall represents one of its highest-ever earnings from a single land auction. Officials confirmed that the proceeds will be channelled into affordable housing programs, including the Indiramma Housing Scheme—targeted at providing quality homes for economically weaker sections and middle-income families across the state.

KPHB: Hyderabad's New Real Estate Hotspot

This latest auction surpasses recent high-value sales in the area. In earlier rounds:

• A commercial plot in KPHB Phase 4 sold for ₹65.3 crore per acre just a few weeks ago.
• In June 2025, smaller plots in Phase 7 fetched up to ₹2.98 lakh per square yard—equivalent to about ₹660 crore per acre in smaller units.

While those sales were remarkable in per-square-yard terms, the current deal stands out for its sheer scale and total transaction value.

Market Implications

This high-value land sale highlights the extraordinary growth and investor confidence in Hyderabad’s real estate market, particularly in well-connected urban pockets like KPHB. For developers, the transaction signifies both opportunity and competition, while for the state, it offers a valuable infusion of funds to address housing needs.

Mumbai: Shares of Ola Electric Mobility slipped more than 8 percent by early afternoon, erasing gains from a sharp two-day rally, as fresh VAHAN registration data showed rival Ather Energy outpacing Ola in August. At 1:35 PM IST, the stock was trading sharply lower, reflecting profit booking and concerns about market share erosion.

According to VAHAN data, Ola Electric recorded 9,681 registrations in August so far, trailing behind Ather Energy’s 10,283—a gap that marks a significant shift in the competitive dynamic. For the year to date, Ola leads with 142,858 registrations, compared to Ather’s 108,424.

Earlier in the week, Ola’s stock had surged over 23 percent, driven by founder Bhavish Aggarwal’s upbeat projections at the annual Sankalp event. He reiterated the company’s goal of capturing a 25–30 percent share of the two-wheeler EV market, built on vertical integration and upcoming product launches. “Our target market share for two-wheeler EVs is about 25 to 30 percent with very high margins… Ola's 'mojo is still there,'” he said.

Aggarwal also highlighted that profitability in electric vehicles requires more than just scale. “No one is making money. To make money with EVs, you need vertical integration, technology development, the DNA of technology,” he emphasized.

The quarterly performance painted a mixed picture. In Q1 FY26, Ola reported a consolidated net loss of ₹428 crore, better than both the ₹870 crore loss in Q4 FY25 and the ₹347 crore loss in Q1 FY25. However, revenue dropped nearly 50 percent year-on-year to ₹828 crore.

Market watchers noted that despite the stock’s recent momentum, the registration data served as a reality check—casting uncertainty over Ola’s short-term trajectory and dampening enthusiasm. With Ather now leading in monthly registrations, investor focus may shift toward execution and how Ola counters increasing competition.

India's only listed online gaming firm, Nazara Technologies Ltd, saw fresh selling pressure on Thursday, August 21, after the Lok Sabha passed the Promotion and Regulation of Online Gaming Bill, 2025.

The legislation, which now moves to the Rajya Sabha, proposes to ban all pay-to-play online games, including those categorised as games of skill or chance. If enacted, it would effectively suspend the operations of all regulated real-money gaming (RMG) platforms in India, sending shockwaves across the sector.

At 12:16 p.m., Nazara’s stock traded at ₹1,106 on the NSE, down 9.3 percent and marking a 15-week low. The decline followed a 13 percent drop in the previous session. Delta Corp, another listed company with gaming exposure, erased intraday losses on Wednesday to settle with minor gains.

What the Bill Proposes

The Bill is aimed at addressing concerns over the addictive and immersive design of online money gaming platforms, which policymakers argue can cause severe financial and mental health risks, particularly for young users.

Key provisions include:

• Complete ban on all forms of pay-to-play RMG, including poker, rummy, and fantasy sports.
• A regulatory authority under the Ministry of Electronics and Information Technology to monitor compliance.
• Penalties for operators and intermediaries offering banned games, ranging from hefty fines to criminal liability.
• Measures to promote non-monetised, skill-based gaming and eSports as legitimate forms of digital entertainment.

Government representatives argued during the debate that while gaming technology and eSports have potential as industries, real-money gaming has crossed into predatory territory, often trapping minors and vulnerable players in cycles of debt. The bill also cited research linking excessive RMG participation to issues such as stress, insomnia, and social isolation.

Industry bodies, however, criticised the sweeping nature of the legislation, warning it could wipe out billions in investments and jeopardise thousands of jobs. They argued for a regulatory approach instead of an outright ban.

Nazara’s Position

In a stock exchange filing, Nazara clarified that it has no direct exposure to RMG. Its only link is via its 46.07 percent stake in Moonshine, which owns and operates PokerBaazi. The company reiterated that as per its latest reported financials, the contribution of RMG to its consolidated revenue and EBITDA was nil.

Speaking to CNBC-TV18, Nitish Mittersain, founder and CEO of Nazara Technologies, admitted that a ban would put its ₹805 crore investment into PokerBaazi at risk, but stressed that the firm’s core businesses remain resilient. “Our fundamental platform is strong, and we are exploring other opportunities beyond real-money gaming,” he said.

Market Reaction

Domestic brokerage ICICI Securities downgraded Nazara, cutting its target price from ₹1,500 to ₹1,100 per share. The brokerage assigned a zero valuation to Moonshine, down from ₹400 earlier. However, it maintained that Nazara’s other verticals — gamified early learning, publishing, gaming arcades, and eSports via Nodwin Gaming — remain unaffected.

Analysts also noted that the formal recognition of eSports as a sport in India could be a structural positive for companies like Nazara, even though short-term earnings will likely take a hit from the uncertainty around RMG.

The Indian equity benchmarks continued their upward trajectory on Thursday, buoyed by strength in Reliance Industries and key banking stocks, as well as encouraging Asian market trends and evolving global cues.

By around 11:40 a.m. IST, the BSE Sensex was trading approximately 300 points higher, settling near 82,146, while the NSE Nifty hovered slightly above 25,120. This extended the ongoing market rally into its sixth consecutive day, underlining sustained resilience in Indian equities despite mixed signals from global markets.

Among the prominent gainers were Dr. Reddy’s Laboratories, Cipla, Reliance Industries, ICICI Bank, and Larsen & Toubro, each climbing up to 2% intraday. Banking stocks, in particular, saw broad-based support, with nine of the dozen Bank Nifty constituents trading in positive territory.

Key Drivers Behind the Market Momentum

Reliance and financials lead the charge: Reliance Industries rose by over 1%, propelling gains in the broader oil & gas index. Financials also outperformed, gaining around 0.5%, driven by optimism over a proposal to exempt health and life insurance premiums from taxes—a move that boosted sentiment in insurance stocks. Banking names like ICICI Bank and HDFC Bank added weight to the rally, giving the sector an edge over others.

Firm regional cues: Markets in Asia put in a mixed-to-positive performance, with South Korea’s Kospi and the Shanghai Composite in the green. These gains helped cushion investor appetite in domestic markets, counterbalancing concerns over slower growth signals from the U.S.

Anticipation ahead of Fed: Investors are closely monitoring the U.S. Federal Reserve Chair’s remarks at the Jackson Hole symposium for signals on interest rate direction. The commentary is expected to shape expectations for the next phase of monetary policy, potentially impacting foreign fund inflows into emerging markets, including India.

Market dynamics and policy tailwinds: The rally has been underpinned by earlier momentum from proposed GST reforms and S&P’s recent sovereign credit upgrade for India. Small-cap and mid-cap indices also performed well, with select stocks like Jupiter Wagons surging on strong order wins and mid-tier banks gaining on expectations of robust quarterly earnings.

Rupee and volatility cues: The rupee appreciated 14 paise to 86.93 against the U.S. dollar, aided by strong domestic equities and improved risk appetite. Meanwhile, India’s volatility index slipped 1.3 percent to 11.63, reflecting lower near-term market uncertainty and encouraging steady institutional participation.

Market Outlook

On the technical front, the Nifty is trading close to its upper Bollinger band, suggesting the possibility of near-term consolidation. Analysts suggest that while a sharp decline is unlikely, a mild pullback toward the 25,000–24,980 levels could occur before the index attempts another upswing. On the upside, resistance is seen around 25,150–25,200, where profit-booking may cap immediate gains.

For the Sensex, immediate support lies near 81,850, while resistance is pegged around 82,400. If the index breaches the upper range decisively, further upside toward 82,700 cannot be ruled out. However, given the overbought conditions in several large-cap stocks, intermittent corrections may surface.

Market participants remain cautiously optimistic, with strong domestic liquidity and policy support seen as key buffers against global headwinds. Investors are expected to track upcoming global central bank signals, crude oil price movements, and foreign portfolio investment trends to gauge sustainability of the rally.

Vedanta Ltd’s ambitious plan to demerge its diversified business units has encountered significant hurdles, with the central government raising objections that could delay or reshape the proposed corporate restructuring. The objections center around regulatory and compliance concerns, particularly in sectors where Vedanta operates under sensitive government oversight, including natural resources and energy.

The demerger plan, announced in late 2023, envisioned splitting Vedanta into six independent listed entities covering aluminum, oil and gas, power, steel and ferrous materials, base metals, and the semiconductor/display business. The move was positioned as a strategy to unlock shareholder value, simplify operations, and provide focused growth pathways for each vertical. However, as of August 2025, the government has expressed reservations about certain aspects of the restructuring, citing both sectoral sensitivities and implications for strategic industries.

According to officials, the government is particularly cautious about segments such as oil and gas and base metals, where Vedanta holds critical assets and licenses. Concerns have reportedly been raised regarding whether the separation of businesses could impact accountability, resource management, or future regulatory compliance. Additionally, officials have indicated that a clearer roadmap on how Vedanta plans to manage liabilities, inter-company transactions, and governance standards post-demerger is required.

Vedanta had earlier secured shareholder and board approvals for the demerger, with the process slated for completion in FY26. The group’s management projected that the new structure would offer investors greater visibility into each business, enabling differentiated valuations and attracting sector-specific investments. For Vedanta Resources, the London-based parent struggling with high debt levels, the restructuring was also expected to create opportunities for unlocking capital and raising funds more efficiently.

However, the government’s intervention has cast uncertainty on the timelines and shape of the proposed plan. Market watchers note that Vedanta’s stock has reflected this ambiguity, showing volatility since reports of the objections surfaced. While investors had initially welcomed the demerger as a value-creation opportunity, fresh regulatory headwinds have tempered optimism.

Industry experts suggest that Vedanta may need to rework parts of its proposal, offering stronger assurances on compliance and governance mechanisms to gain government approval. This could include enhanced disclosures, tighter regulatory oversight of sensitive businesses, and a phased restructuring approach rather than a single sweeping demerger.

The development comes at a time when Vedanta is simultaneously pushing large-scale investments, including its semiconductor and display ventures, in alignment with India’s technology and manufacturing ambitions. Any delay in restructuring could complicate its capital-raising plans, given its reliance on unlocking value through differentiated listings.

The Ministry of Corporate Affairs and sectoral regulators are expected to hold further consultations with Vedanta in the coming weeks. While the government has not rejected the plan outright, the current objections underline the complexity of restructuring a conglomerate with such extensive operations in critical industries.

UltraTech Cement has initiated the sale of up to a 6.49% to 6.5% stake in its subsidiary, India Cements, in a strategic move aimed at adhering to regulatory requirements under India’s minimum public shareholding norms.

The Offer for Sale (OFS), spanning from August 21 to August 22, involves up to 2.01 crore equity shares, and will be conducted via the stock exchange mechanism. UltraTech’s board and its Committee of Directors and Officers approved the sale, which will trim its holding to approximately 75%, in compliance with regulations limiting promoter holdings to 75%.

Valued at around ₹745 crore (approximately $85.6 million), based on the company’s valuation of ₹11,466 crore as of August 21, this divestment allows UltraTech to realign its shareholding structure without sacrificing strategic control.

The announcement triggered a modest stock market response: India Cements shares rose about 2.9%, reaching ₹380.70in early trade. Meanwhile, UltraTech’s share price remained virtually unchanged, reflecting investor acceptance of the mandated reshuffle.

This step follows UltraTech’s acquisition of a majority stake in India Cements in July 2024, which brought its holding close to 81.5%, exceeding the allowable promoter threshold. The divestment serves as a measured effort to comply with SEBI’s minimum public shareholding rule, requiring at least 25% of a listed company’s shares to be publicly held.

In the past, UltraTech secured Competition Commission of India approval and completed its open offer to India Cements shareholders, culminating in the present shareholding structure.

This financial maneuver comes at a time when UltraTech is doubling down on operational expansion. The cement giant, with an installed capacity of 192.26 MTPA as of Q1 FY26, is on track to surpass 200 MTPA by FY26, ahead of schedule.

Infosys has significantly raised its performance bonuses for the first quarter of fiscal 2025–26, offering an average payout of 80% to eligible employees—mainly those in Band 6 and below—a notable jump from the previous quarter's average of around 65%. This decision underscores the company’s confidence in its growth momentum and its intent to strengthen employee engagement and retention in a highly competitive IT services market.

The enhanced bonus structure comes on the back of strong Q1 earnings. Infosys reported an 8.7% year-on-year rise in net profit to ₹6,921 crore and a 7.5% revenue growth to ₹42,279 crore, both of which exceeded market expectations. These results have enabled the company to prioritize employee rewards at a time when peers in the IT industry are tightening compensation due to global economic pressures.

Bonuses for employees in levels PL4, PL5, and PL6 are staggered based on performance ratings, reflecting a push to reinforce a high-performance culture. For PL4 employees, which include senior engineers and analysts, outstanding performers received up to 89% of their eligible bonus, while others meeting expectations received 80%. Even those needing improvement saw a payout of around 80%. For PL5 employees, typically track leads and mid-level roles, bonuses ranged between 78% and 87%. In the PL6 category, covering managerial roles, payouts varied between 75% and 85%. These performance-linked payouts demonstrate Infosys’s effort to reward both consistency and excellence.

The letters confirming these payouts have already been rolled out through Infosys’s internal e-docket system, creating a wave of optimism within the company’s workforce. 

The timing is particularly significant as the IT sector has been navigating a period of uncertainty, with other leading players like TCS, HCLTech, and Wipro facing challenges such as delayed salary hikes and cautious hiring practices.

Marking a breakthrough for Indian aviation, Indian Oil Corporation (IOC) has signed a memorandum of understanding with Air India to supply sustainable aviation fuel (SAF), positioning India at the forefront of the global push for cleaner air travel.

Starting this coming December, IOC will produce SAF at its Panipat refinery using used cooking oil collected from hotels and restaurant chains such as ITC and Haldiram’s. The refinery will generate about 35,000 tonnes annually, transforming everyday kitchen waste into green jet fuel.

Sustainable aviation fuel, made from non-petroleum feedstocks, can reduce carbon emissions by up to 80% over its lifecycle and can be blended up to 50% with traditional aviation turbine fuel. India has already mandated 1% blending in jet fuel for international flights from 2027, giving this initiative strong policy backing.

IOC is the first Indian company to obtain ISCC CORSIA certification, a global endorsement under the UN aviation body ICAO’s carbon reduction framework. This certifies IOC’s capacity to deliver fuel that meets the highest international standards of sustainability and emissions reduction. “This MoU with Air India is a strategic step in India’s transition to sustainable aviation,” said IOC Chairman Arvinder Singh Sahney. “Our certified green fuel will not only decarbonise air travel but also set a benchmark for the industry.”

For Air India, the agreement is aligned with its net-zero 2050 goal set by the International Air Transport Association (IATA). CEO Campbell Wilson called the pact a crucial step toward greener skies. “We are committed to supporting India’s sustainability agenda and ensuring our growth aligns with the planet’s needs,” he said.

The MoU was signed by IOC’s Executive Director (Aviation), Shailesh Dhar, and Air India’s Group Head of Governance, Regulatory and Corporate Affairs, P. Balaji, in the presence of Sahney and Wilson.

With this partnership, India is not only preparing to meet global climate commitments but also turning everyday waste into fuel for the future. For passengers, it means flying cleaner without changing the experience, but with the assurance that each journey contributes a little less to the planet’s carbon load.