Top Domestic News

1. Uttar Pradesh: Fast-tracks acquisition of 25,000 hectares near expressways. Read

2. Delhi HC: Seeks solution to fraudulent GST registrations using PAN, Aadhaar. Read

3. Roadways: Minister of Transport Nitin Gadkari says Govt to roll out Bharat NCAP 2.0 from October 2027. Read

4. Crude: Oil shipments to India face delivery hurdles in Persian Gulf amidst Middle East mayhem. Read

Positive

1. Altius Telecom: La Caisse acquires 24% stake in telecom tower provider for ₹12,100 Cr. Read

2. Swiggy: Concierge platform Crew enters travel segment with AI support in move to expand beyond core businesses. Read

Negative

1. Tata Chemicals: Kenyan president ousts Indian giant from 100-yr-old soda-ash mineral operation over sodium ash exports malpractice. Read

2. HDFC Bank: At risk of losing top Nifty spot to ICICI amid leadership turmoil. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. USA: Donald Trump’s face appears on new $1 coin to mark USA’s 250th anniversary. Read

2. Nepal: Flash floods death toll rises to 1,252 as more bodies recovered, several still missing. Read

3. Middle East: Trump says attacks on Iran likely to be short, asserts US control over Strait of Hormuz. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

IPOs with InCred Money

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Startup Talks

1. Pine Labs: Fintech startup names Jayaram Karthik as COO to drive global operations. Read

Other News

1. FDA: Crackdown continues as EatClub’s Mumbai outlet loses food licence. Read

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Don’t forget to share this with anyone else who you think needs a head start!

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_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

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Top Domestic News

1. Defence: Aerospace exhibition Aero India 2027 to be held in Bengaluru from Feb 8 to 12. Read

2. Bihar: On alert after Nepal floods as major rivers swell, all 69 gates of Sone Barrage opened. Read

3. Tamil Nadu: CM Vijay announces ₹4,800 Cr drinking water projects across state. Read

4. SCO Development Bank: India moving to establish a new Shanghai Cooperation Organisation (SCO) Development Bank, with member nations moving towards finalizing the foundational documents for this crucial financial entity. Read

5. Wind Energy: India will soon surpass Germany to become the world’s third-largest wind energy producer. Read

6. RBI: India’s banking system attracted ~$136 billion through a special RBI swap facility. Read

Positive

1. Hyundai: Expects 8-10% H2 sales growth, aims to outpace PV industry with help of mid-size SUV and EV segments. Read

2. ICICI Bank: Buys additional 2% stake in ICICI Prudential Life for ₹1,470 Cr. Read

3. Adani Ports: Cargo handling hits record 50 mn tonnes, rising 19% in August. Read

Negative

1. Coal India: To disinvest 10% stake in subsidiary Mahanadi Coalfields’ IPO. Read

2. F&O segment: Turnover slumps to 14-month low of ₹347 trillion sharpest decline witnessed since Dec 2024. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. United Nations: Says Earth will soon exceed safe temperature threshold agreed upon in 2015 Paris Accords due to burning of fossil fuels. Read

2. US: Oil giant Chevron confirms expansion of operations in Venezuela, US govt. to receive share in profits. Read

3. the Netherlands: Dutch central bank shifts billions in gold to London in ‘preparedness’ move. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

IPOs with InCred Money

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Startup Talks

1. Whatfix: CEO Khadim Batti, prominent SaaS entrepreneur, passes away following cardiac arrest. Read

Other News

1. Open AI: Receives US govt. backing in New York Times and others’ copyright case. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

Don’t forget to share this with anyone else who you think needs a head start!

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. PMO: Modi asks citizens to shun foreign holidays, avoid buying gold in renewed appeal. Read

2. Fuel: Govt to bring back duty on petrol exports from Sep 1, cuts levy on ATF. Read

3. Trade: India’s current account deficit widens to $4.2 billion in Q1 based on RBI data. Read

4. GDP: India’s GDP grows at 7.8% in Q1, defies US-Iran war impact. Read

Positive

1. Tata Elxsi: Inks pact with Sarla Aviation to make air taxi platform Shunya. Read

2. Vodafone Idea: Onboards Shah Rukh Khan as brand ambassador, unveils new logo. Read

3. Sun Pharma: Signs US deal to offer ‘most favoured nation’ pricing on drugs. Read

4. Tata Motors: Commercial vehicle sales jump 49% to 44,411 units in August. Read

Negative

1. Essel Group (EPL Ltd.): NCLT bars Chairman Subhash Chandra from disposing of properties in insolvency case. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. USA: Launches new slew of strikes on Iran around Strait of Hormuz. Read

2. Iran: Says it has enough foreign currency reserves despite US sanctions. Read

3. Bonds: Global Bond selloff sends yields to the highest level since 2008. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Purple Style Labs

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Startup Talks

1. Kepler Aerospace: Raises $8 mn in seed round led by Blue Ashva Capital, for swarming ISR satellites. Read

Other News

1. MEA: Says 158 Indians rescued from Nepal, Indian teams continue relief efforts. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

Don’t forget to share this with anyone else who you think needs a head start!

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. Gujarat: Extends ban on sale of gutkha, pan masala till Sep 2027, covers manufacture, sale, storage and distribution. Read

2. Tamil Nadu: CM Vijay announces hike in milk procurement price by ₹3 to ₹44 to support dairy farmers. Read

3. Defence: Govt. considering easing FDI norms, liberalising defence sector for overseas investors. Read

Positive

1. Zomato: Announces zero-tolerance policy on sale of analogue dairy dishes, in move towards transparency and food quality. Read

2. Indian Oil: Boosts LPG output by 30% amid Iran war, refineries run over capacity, boasts Chairman. Read

3. Aurobindo Pharma: Enters US inhalation market with generic Advair launch, expands generics portfolio beyond conventional formulations. Read

Negative

1. Zee Entertainment: Share price crashes over 14% to ₹87 after key lenders challenge NCLT order regarding repayment plan. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Middle East: UAE intercepts Iranian drone over territorial waters after US strikes. Read

2. Japan: Plans $55.6 bn military budget to strengthen defence with drones, artificial intelligence and long-range missiles. Read

3. India-Russia: PM Modi implores Putin to end Ukraine war amid U.S. tariff threat on Russian oil. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Purple Style Labs

ESDS Software

IPOs with InCred Money

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Startup Talks

1. PhonePe: IPO-bound payments giant launches UPI 123Pay for feature phones, payments to work without internet. Read

Other News

1. Anthropic: Sony Music, Warner Chappell sue AI leader over copyright infringement regarding downloading copyrighted works to train Claude AI models. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

Don’t forget to share this with anyone else who you think needs a head start!

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. Finance Ministry: Forecasts India to sustain 7% growth in FY27 despite global uncertainties owing to policy and smart shifts in supply chain. Read

2. Delhi: CNG price raised by ₹3.89 per kg in Delhi amidst surge in spot input LNG prices. Read

3. Maharashtra: Bombay HC slams FDA for ‘pedantic’ view of operation, clears reopening of 5 eateries within Mumbai Cricket Association. Read

Positive

1. Ather Energy: Invests ₹500 Cr to develop new and first mass-market e-scooter platform “Konarc”. Read

2. Ola Electric: Receives ₹96 Cr Production Linked Incentive (PLI) boost from central govt. amidst cash burn quenching efforts. Read

3. Jindal Stainless: To expand coin blank capacity by 20% to meet non-paper based currency demand. Read

Negative

1. HDFC Bank: MD and CEO Jagdishan not seeking reappointment, to retire in October declares bank in BSE filing. Read

2. Coal India: Says gasification scheme rules may favour private sector players, lead to own business being disadvantaged against private rivals. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Nepal: India to supply advance power to disaster stricken nation to cope with flash flood tragedy. Read

2. USA: SpaceX set to launch Nasa’s $4.3 bn dark energy-hunting space telescope. Read

3. US-Iran: US forces strike Iranian rocket launchers on the Straight of Hormuz in first military action in weeks. Read

4. Venezuela: US govt to take 35% stake in crude mogul Betancourt’s oil venture in country, along with preferential rights to purchase 20% of production. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Purple Style Labs

ESDS Software

IPOs with InCred Money

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Startup Talks

1. Sarvam: IndiGo Ventures invests in AI firm as part of Series B round. Read

Other News

1. Iceland: Rejects EU membership plan in referendum held under the shadow of Trump’s Greenland threats. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

We recently hosted Mohammad Kaif at an InCred Group event, where he was asked why India hasn’t historically produced many great fielders. His answer had nothing to do with talent.

He said, during his time, young cricketers in India rarely grew up playing on lush green outfields. Most learned the game on dusty maidans which were littered with pebbles and small stones. A full-length dive to take a catch could easily end in a torn ligament or a fractured wrist.

And that fielding injury can cost you a few weeks on the sidelines. It can even cost you your place in the team.

So why would anyone risk it? As a player, the wiser thing would always be to take the safer route and shine through their batting or bowling skills.

That, more than talent, is why Indian fielding stayed mediocre for so long. Kaif and Yuvraj Singh were the exceptions during that era.

This confession made me think about risk taking in general.

Win A Free Book, 3 Lucky Readers

Mohammad Kaif captained India to victory in which major Under-19 tournament in 2000?

a) Under-19 Asia Cup

b) Under-19 Tri-Series

c) ICC Under-19 Cricket World Cup

d) Under-19 Champions Trophy

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India - A Country That Played It Safe

Until the turn of the century, most Indian graduates chose the safest available option on the table. Getting a stable job mattered more than building something new. For a lot of them it meant getting a government or PSU job. Starting something of your own was only for people from business families.

Some of this caution had very real roots.

In 1991, India came close to running out of foreign exchange entirely which forced the Liberalisation & Privatisation reforms that eventually opened up the economy to the world. In the rest of the decade India saw political instability, sanctions, and general fragility.

In an environment like that, keeping your own house in order was more important than taking risky bets.

Many with a high risk appetite left the country, building their careers abroad instead of at home. Domestic entrepreneurship, especially from people without an existing business background, stayed rare.

Investing followed a similar script. Equities were viewed with real suspicion, especially post the Harshad Mehta scam, sometimes treated as closer to speculation than a legitimate way to build wealth. There was also a mathematical reason too. Bank fixed deposits alone paid 10–12% through much of the 1990s. When a “safe” instrument pays double digits, the case for taking on equity risk shrinks considerably.

Source: Bank FD Interest Rates in India — 35-Year History, Relakhs

The Environment Started to Shift

The License Raj made starting almost any business a bureaucratic ordeal, until the 1991 reforms dismantled it.

International venture capital firms like Sequoia Capital and Norwest Venture Partners set up Indian operations around 2000. VC money meant that a founder was risking his time and effort and his family’s savings to take an entrepreneurial bet. Momentum of VC investing stalled after the 2001 dot-com crash, and it took until 2003-05 for investor confidence to properly return.

Also, a booming & globalised economy of the early 2000s meant that a founder always had a job to fall back on. Failure stopped being permanent, and that gave a boost to anyone who was willing to try.

The real inflection point came in 2007, when two college friends, Sachin and Binny Bansal, started an online bookstore out of Bangalore called Flipkart. Most VCs were sceptical, India’s first wave of dotcom companies had largely failed. Flipkart raised its first institutional cheque from Accel Partners in 2008, with larger rounds following through 2009-11.

What made Flipkart possible wasn’t a sudden burst of entrepreneurial talent. It was an ecosystem finally coming together: available capital, willing mentors, and enough successful precedents which inspired the next founder to take the entrepreneurial plunge.

Every success after that lowered the perceived risk for the next venture. That enabled a compounding effect which is largely how India went from a handful of internet ventures in the mid-2000s to founders emerging from every kind of background over the following decade.

The investing side moved on a parallel timeline.

The same logic that kept the country cautious in the 90s played out inside individual households too. When most of a family’s income goes toward the basic needs, taking risks can lead to big setbacks. But as incomes crossed that basic threshold through the 2000s, more households finally had spare capital to put toward growth assets.

It also helped that returns on fixed deposits fell through the 2000s and 2010s making the case for staying only in FDs weak. Regulators worked deliberately to rebuild trust in equities through reforms and later campaigns like Mutual Funds Sahi Hai. The rise of the internet also reduced information asymmetry and ease in transacting.

It took 25 years, from 1997 to late 2022, for India to cross 11 crore demat accounts. It’s taken less than four years to more than double that, past 26 crore by mid-2026. Mutual Funds AUM growth tells a similar story.

Source: NSE crosses 26 crore investor accounts, Business Standard

The Key To Risk Taking is a Favourable Environment

None of this changed because Indians suddenly became bigger risk-takers as people. What changed was the environment around them. Access improved, there were more fallback options, and also visible success stories.

Once a critical mass of people start taking that leap, and some of them succeed, outcomes compound. Each success story makes the next attempt feel a little less reckless.

This is part of why the US has built such a strong reputation for innovation. It isn’t because Americans are inherently bigger risk-takers than anyone else.

It’s because their environment, capital markets, cultural attitudes toward failure, access to funding, has been engineered over decades to make risk-taking survivable, even when it doesn’t work out.

The Takeaway

In cricket we often hear, ‘Catches win Matches’. Many times, it’s the ten or fifteen runs quietly leaked through misfields, half-hearted dives that become the actual difference between winning and losing the match.

The same is true of risk-taking in life and in markets. The cost of not taking a risk rarely shows up as one dramatic event. It shows up quietly, over years, as the gap between where you are and where you could have been.

Taking a risk is genuinely hard. It means going against a lifetime of conditioning that says the safe path is the smart path.

But the environment to take that risk should be conducive. What better grounds did for fielding, venture capital & the startup ecosystem did for entrepreneurship.

Anyone who takes the risk anyway, leaving a stable job to build something of their own, deserves credit, not scepticism. The least the rest of us, policy makers, markets, and institutions, can do is keep building the environment that makes risk taking a little easier, not harder.

Till next time,
Vijay
CEO, InCred Money

P.S. Here’s the full video of the InCred event where we hosted Mohammad Kaif, Harbhajan Singh, and Ravi Shastri, hosted by InCred Group CEO Bhupinder Singh:

Share

Till the next time,
Vijay
CEO - InCred Money

P.S. I share my thoughts on Investing and the Economy regularly. You can follow me here.

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Top Domestic News

1. Entertainment & Media Sector: Projected to grow to $36.7 billion by 2030; internet advertising to nearly double from $7.5 billion in 2025 to $14.3 billion by 2030, growing at 13.9% CAGR. Read

2. Goods Exports: Exports rose 15%+ to cross $200 billion; latest available data estimated third week of August exports at over $25 billion, driven primarily by petroleum products. Read

3. India-Japan Trade Pact: India seeking review and expansion of 15-year-old trade agreement with Japan after breakthrough in July when both PMs agreed to modernize the accord. Read

Positive

1. GK Energy: Secured Rs 454 crore contract from state government power distribution utility for grid-connected rooftop solar photovoltaic projects via Letter of Empanelment. Read

2. Hero MotoCorp: Announced purchase of additional Ather Energy shares for up to Rs 17.58 billion ($184 million), raising stake in electric scooter maker to 32.8%. Read

3. Tata Power Renewable Energy: Commissioned 72.5 MW captive solar project at Kalasar, Rajasthan, expanding renewable energy operations. Read

Negative

1. Tata Power Company: Dropped over 4% following a setback in a Singapore court regarding a $490M Kleros arbitration award. Read

2. HDFC Bank: Shares declined 2% as US securities fraud class-action lawsuit and uncertainty over MD & CEO succession weighed on investor sentiment. Read

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(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. US Fed: Delivers speech on markets, await insights on inflation metrics and monetary policy direction amid persistent price pressures and rate hike expectations. Read

2. Japan Inflation: Tokyo core inflation moved closer to the Bank of Japan's target. This increases the chance of an upcoming interest rate hike. Read

3. US: Wholesale inventories rose by 1.3% month-over-month to $959.1 billion in July 2026, after an upwardly revised 0.3% increase in June and largely surpassing the expected 0.1% gain. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Startup Talks

1. ESDS: IPO-Bound ESDS Software Bags ₹216 Cr From Anchor Investors. Read

2. TrucksUp: Logistics tech startup raised $8.2 million in growth funding to enhance technology platform, hiring and working capital requirements. Read

Other News

1. Zee Group: Subhash Chandra’s Rs 22,006-Crore Debt Cut To Just Rs 6.5 Crore. Read

2. Meta: Agreed to pay up to $18 billion to settle claims that its platforms harm children in California federal court trial brought by US states. Read

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. GDP : Q1 FY27 GDP growth slows to a four-quarter low of 7.4% amid delayed monsoon and uneven sectoral performance, while industrial and services activity remains supportive. Read

2. Exports: Engineering shipments jump 18% to $12.24 billion in July, with the US remaining the top market. Read

3. Foreign Investment: Gross FDI hits a 15-year high of $30.7 billion in April-June 2026, while net inflows turn positive in five of the last six months, signalling sustained foreign investor confidence. Read

Positive

1. Adani Energy Solutions: Wins ₹4,700 crore transmission project in Maharashtra to evacuate 4,500 MW of renewable and storage power, with a 36-month delivery timeline. Read

2. Jaykay Enterprises: Secures ₹60 crore defence order from BrahMos Aerospace, strengthening revenue visibility in its defence segment. Read

3. TCS: Completed €320 million acquisition of Porsche-MHP; third acquisition in a year to boost AI capabilities and global reach. Read

Negative

1. Mahindra Holidays: Received ₹11.34 crore GST demand notice from Central GST Audit, company pursuing legal remedies and does not expect material financial impact. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Canada: Imposes retaliatory tariffs on $20 billion of U.S. goods after trade talks collapse, escalating tensions between the two countries. Read

2. US : Mortgage rates hit 3-week high, weakening demand for both refinances and home purchases, refinance volumes decline on rate headwinds. Read

3. Taiwan: Pushes a $6.6 billion military drone budget ahead of a crucial parliamentary vote, seeking to procure 210,000 new drones to strengthen defence capabilities. Read

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FII/DII - Historic Data

Source: Trendlyne

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Startup Talks

1. Ringg AI: Voice AI startup closes Series A at $15.5 million led by Peak XV Partners, serves Policybazaar, CRED, Flipkart, Groww across fintech, healthcare, banking. Read

Other News

1. Honasa Consumer: Calls off ₹135 crore acquisition of a 58% stake in Fluence Pharma, reflecting a strategic reassessment of the deal. Read

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

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Top Domestic News

1. Exports: Services exports keep the current account deficit contained at $3.1 billion in Q1 FY27, only slightly higher than $2.9 billion a year earlier, despite a sharp rise in the merchandise trade deficit. Read

2. RBI: Net absorbs $561 million in June as capital inflows pick up, reversing net sales seen in April and May. Read

3. Steel Demand: Finished steel output rises 4.7% to 8.7 mt in Apr–Jul, while consumption grows 7.9%; imports and exports also increase. Read

Positive

1. PVR Inox: Board is scheduled to meet on August 31 to consider the company’s first-ever share buyback proposal. Read

2. Varun Beverages: Board approves entry into alcoholic beverages segment with subsidiary named Kiva Spirits, ex-Diageo executive appointed as MD and CEO. Read

3. Natco Pharma: To invest $14 mn in US based genome biotech firm eGenesis, in second investment in company since 2024. Read

Negative

1. Kirloskar Brothers: Stock fell 1.2% to ₹1,899 after Supreme Court sent family dispute to arbitration; governance uncertainty weighs on sentiment. Read

2. Varanium Cloud: SEBI bars company and promoter from securities market for seven years for siphoning and diverting IPO funds. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Trump: Declares Strait of Hormuz to be “demined”, warns Iran not to plant further explosives. Read

2. Ukraine: Kyiv targets Russian retail giants, including Ozon, to disrupt supply chains and pressure the wartime economy. Read

3. United Nations: Calls for urgent international rules on Lethal Autonomous Weapons, with Red Cross urging stronger safeguards and human oversight. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Symbiotec Pharmalab

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Startup Talks

1. MATTER Motor Works: Raised $25 million in growth capital to scale electric motorcycle manufacturing and launch four new models over next 12-24 months, expanding product line. Read

2. Nexedge Capital: Raised $20 million to scale HNI wealth management platform, strengthen technology, expand into Tier-II/III cities, and build NRI and NBFC offerings. Read

Other News

1. Hollywood: Grammy winner and queen of country music Dolly Parton dies at 80. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. Trade: India negotiates FTAs with 8-9 more blocs to cover 75% of global trade, positioning itself as a trusted partner in global value chains. Read

2. Consumer Spending: Retail sales grow 8% in July, driven by need-based purchases, with the Southern and Northern regions outperforming the pan-India average. Read

3. Wheat Exports: Government lifts the wheat export ban with immediate effect, allowing exports of wheat flour, maida and semolina to support farmers. Read

Positive

1. L&T: Signs over ₹15,000 Cr gas compression contract in West Asia involving engineering, procurement and construction of gas compression plants. Read

2. Apollo Micro Systems: Acquired 34% stake in Shauryastra Defence Systems for ₹34,000, investing in defence technology venture aligned with Atmanirbhar Bharat initiative. Read

3. TVS Signs an MoU with Japan-based Sankyu Inc., which intends to acquire a 0.5% stake, subject to regulatory approvals, while the two companies collaborate across supply chain and engineering services. Read

Negative

1. BLS International: Shares fall as much as 14% after reports allege visa fraud; the company rejects the claims. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. US-Canada: Canada will announce retaliatory tariffs against U.S. on August 25, official say. Read

2. US-Iran: Trump targets Iran’s military officials, cyber groups and shippers under ‘Op Economic Outcast’. Read

3. US-China: Trump moves toward levying new tariff on China for flooding market with cheap goods. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Symbiotec Pharmalab

IPOs with InCred Money

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Startup Talks

1. Third Wave Coffee: Raises Rs 408 Cr led by WestBridge. Read

Other News

1. COP17: India calls for sustained international finance for land restoration and drought resilience at COP17. Read

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

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_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. Gas: Petroleum Ministry asks states to appoint nodal officers to speed up PNG adoption. Read

2. Andhra Pradesh: Announces 10,000+ govt. jobs in 4 phases, recruitment to start from 15th Sep. Read

3. Employment: Central govt.’s NITI Aayog report finds ~87 million Indian youth aged 15 to 29 not studying, working or in training. Read

Positive

1. Swiggy: Gears up to switch to inventory-led quick commerce model after receiving shareholder nod. Read

2. Mahindra & Mahindra: Auto titan to intensify exports with new pickup truck model of Scorpio named ‘Lifestyler’ in India and global markets. Read

3. Tata Consumer Products: 50/50 JV Starbucks India to accelerate store expansion after four successive quarters of same-store sales growth. Read

Negative

1. IndiGo: Website hit by booking glitch again, second outage in one week. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. US-Canada: Canada’s Demand For Trucks Tariff Relief Led To Derailed US Trade Talks: Report. Read

2. Bangladesh: Shows interest in joining Saudi -Pakistan-Turkiye defence alliance for collective deterrence. Read

3. US-Iran: US turns to ‘economic D-Day’ against Iran, Tehran raises Gulf oil blockade threat. Read

4. Australia: Confirms first H5N1 bird flu case in mammals as outbreak spreads. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

Tap below to get more insights about the live IPOs

Tempsens Instruments

Symbiotec Pharmalab

IPOs with InCred Money

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Startup Talks

1. Karnataka: State govt. launches low cost AI computing device KEO to democratise access to AI. Read

Other News

1. ISRO: Chief V Narayanan says India will establish its own space station by 2035. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Indians have always invested in real estate. But it has almost always been the same kind: residential property.

While the rent on a flat may look high in absolute terms, the rental yields across Indian cities sit at roughly 2% to 4%. Appreciation has been real in some cities and close to not substantial in many others. And there is a lot of hassle: managing tenants, brokers, repairs, society dues, and if you want to sell, it may take months before you’re able to close the deal.

Commercial property solves some of these problems. Office campuses leased to large corporates on multi-year contracts yield considerably more. But almost no retail investor owns any, for two obvious reasons: the ticket size runs into crores, and selling is even harder than selling a flat.

A REIT helps you invest in commercial property without either problems. And two things have put them back in focus this month: India’s first REIT mutual fund has been launched, and Embassy REIT will soon join the Nifty 500 and the Nifty Midcap 150.

And this is why, in this newsletter, we are exploring REITs.

Win A Free Book, 3 Lucky Readers

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A. New York City
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3 lucky winners will receive a copy of Mastering The Market Cycle by Howard Marks. Contest ends on 24th Aug’26. Winners will be selected at random from all correct entries and announced after the contest closes.

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What exactly is a REIT

A REIT, or Real Estate Investment Trust, is a trust that owns finished, rent-earning commercial property and lets you buy a slice of it on the stock exchange. You are not buying a flat. You are buying a share of buildings that already have tenants paying rent.

The closest thing you already know is a mutual fund. A mutual fund pools money from many investors and invests in a basket of shares. A REIT does exactly the same thing with buildings.

While REITs were launched in the US in the 1960s and have since become very popular, India formalized its regulations just in 2014. It took five years for the first one, Embassy Office Parks, to be listed in 2019. Since then 5 more have been listed on the exchanges.

The six REITs, at a glance

Two SEBI rules that shape how REITs function:

1. At least 80% of what a REIT owns must be finished, & rent-earning property, not land banks or half-built towers.

2. At least 90% of the cash it generates must go back to unitholders, almost always every quarter.

REITs V/s buying a property yourself

How the money actually moves

Picture a REIT called Bluewater Business Trust. It owns three office campuses, each held through a separate company it controls, with an independent trustee overseeing the structure and a manager running operations.

Note: A Special Purpose Vehicle (SPV) is a separate legal entity created for a specific, limited purpose, often to hold assets, raise funds, or isolate financial risk.

Let’s understand how a REIT distributes cash to you through this example of one quarter’s operations. Bluewater owns 5 million sq ft, of which 92% is occupied, at an average rent of ₹85 per sq ft a month.

If Bluewater’s units trade at ₹180, that ₹12 a year is a distribution yield of about 6.7%.

The five numbers worth checking

Every line in that table maps to a metric you will see in a REIT’s quarterly results. Here is what each one tells you, using the Bluewater example.

A high distribution yield is not automatically the better buy. It can easily signal heavier debt, or less market confidence in the REIT future growth. Read the yield alongside occupancy, borrowing and a few other metrics.

Also, the distribution (i.e ₹3 per unit in this case) is paid to you in multiple parts. Some part is interest, some part is dividend, and the rest is simply your own capital coming back.

Why REITs move with the rate cycle

REIT prices are sensitive to interest rates. A REIT is essentially a stream of rental income. So when interest rates fall, safer alternatives like fixed deposits and bonds pay less, so a 6% rental stream looks more attractive and buyers pay more for it (i.e. REIT prices go up). And vice-versa.

You can see it in the chart below. Indian REITs had a difficult 2022 and 2023 as interest rates climbed and hence the REIT payout yields also rose (note that when REIT prices fall, yield goes up and vice versa). The yields fell through 2025 (leading to a price rise) as the RBI began cutting interest rates.

Taxation of REITs

There are two separate things to tax: the quarterly payout you receive, and the capital gains when you sell.

1. The quarterly payout

That ₹3 per unit is a mix of three things, and each is taxed differently.

Interest: At your slab rate
Dividend: Taxable at slab rates (unless the SPVs are in old tax regime in which case, dividend would be tax exempt)
Return of capital: Not taxed now. It lowers your cost price, so you pay later when you sell

Your REIT tells you this split every quarter, so you are not left guessing.

2. The profit when you sell

If your ₹180 unit becomes ₹210, that ₹30 gain is taxed as capital gains:

• Held over 12 months: 12.5%

• Sold within 12 months: 20%

What to take away from all of this

REITs solve a real problem. They give you exposure to commercial real estate which is professionally run and properly diversified. All that at a higher yield, lower ticket size or quick liquidity.

But there is a trade-off. Because a REIT is listed, its price moves every day, and it will swing more sharply than the underlying property market. Physical real estate looks stable partly because quotes don’t change every day.

Also, REITs are not an equity substitute and should not be judged like one. A reasonable long-term expectation might be somewhere around 9% to 12% annualized returns, made up of a 5% to 7% distribution plus modest growth in the value of the buildings. For an investor looking to diversify, REITs provide a genuinely good alternative.

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Till the next time,
Vijay
CEO - InCred Money

P.S. I share my thoughts on Investing and the Economy regularly. You can follow me here.

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Sugar has become one of 2026’s most consequential commodity stories, with a surge in prices right ahead of India’s festive season- when it is consumed the most. Sugar is not among the normal commodity in India: it is deeply intertwined with farm incomes, rural politics, food inflation and the ethanol programme. The price surge is a genuine supply story with India sitting at the center of it- both as a victim of tight domestic stocks and, through its export and ethanol policies, as one of the reasons global supply has tightened in the first place.

How much have prices actually risen

Globally, sugar futures have had quite a run. ICE US Futures is trading around $17.5 per pound, up about 20% since the start of the month. The acceleration over the past month specifically is the more striking number here: this isn’t a slow multi-year grind, it’s a sudden re-pricing.

In India, the move has been even higher and has already shown up in the inflation data. Wholesale sugar prices in the national capital touched highs of Rs 6,600 per quintal on Friday this week, a spike of 36% in just one month. Retail prices rose to Rs 67 per kg, up by 31.2% compared to just a month ago, with retail inflation in sugar doubling to nearly 5% annually in July from 2.2% in June.

Why global sugar supply has tightened all together

What makes this rally note worthy is that it isn’t one country’s bad harvest- it’s a near-simultaneous supply hit across all three of the world’s major producing blocs, compounded by weather risk in a fourth.

• Brazil- the world’s largest producer, saw production fall sharply in June, but the more structural issue is that Brazilian mills are increasingly diverting cane toward ethanol rather than sugar, because elevated crude oil prices make ethanol the more profitable output right now.

• India is watching an unusually weak monsoon during the critical August-September cane-growing window, with rainfall running about 12% below normal as of mid-August raising real doubt about how much cane will actually be available when crushing resumes in November.

• The European Union and UK are staring at their lowest combined sugar production in 11 years, at roughly 15 million tonnes, with drought and unusually hot weather across Europe cutting into beet yields.

Why India's domestic prices are its own thing

First is simple timing: India’s sugar season runs on an annual crushing cycle, and the new crop doesn’t start coming in until November. Current-season closing stock is projected to fall to the lowest in over three decades and India might have to import sugar for the first time in over a decade as per media reports. This means the market has to stretch existing inventory across the entire pre-harvest gap, right as festival demand from Ganesh Chaturthi through Diwali peaks. Sugar is a core input for the sweets, snacks, and beverages that spike every festive season. Sugar mills, despite the tight window, are reportedly unable to advance crushing citing unavailability of labour.

Second, and more structural, is ethanol diversion and exports of sugar. Roughly over 3 million metric tonnes or about a tenth of the national output to ethanol production this year. This is also because the government’s fixed-price ethanol procurement contracts give mills a more predictable income stream than either the domestic sugar market or export markets. India actually hit its 20% ethanol blending target in 2025- five years ahead of the original 2030 goal, reducing crude dependence and saving valuable foreign exchange. On one hand, while that is a genuine energy-policy success story, on the other hand, it structurally shrinks the pool of sugar available for direct consumption and export every single year going forward, regardless of how good the cane crop is.

India’s sugar industry is increasingly being asked to perform two jobs simultaneously: feed the country and fuel it.

India has historically used a combination of export restrictions, monthly release quotas, stock limits and import duties to balance the interests of consumers, farmers and mills. This time, so far, the union government has tightened sugar stockholding limits, apart from the move to permit duty-free imports of 1 million tonnes of sugar up till October this year.

The government has acted, but the market still has to get through the next few weeks. The question now is whether this is merely a seasonal squeeze-or the beginning of a more structural repricing of sugar in India’s food-and-fuel economy.

This Week’s Numbers Wrapped Up

United States

• Three regional Fed presidents- Beth Hammack, Neel Kashkari, and Lorie Logan- actually voted for a quarter-point hike rather than just noting disagreement in the minutes.

• Officials described inflation as "elevated" with risks skewed toward higher readings, not lower. Core PCE was running at 3.4% and headline PCE at 4.1% as of May- well above target.

• Three specific inflationary forces were flagged: tariffs, Middle East-driven energy costs, and AI-related demand pushing up prices in certain sectors.

Eurozone

• Eurozone’s flash PMI for August 2026 showed business activity accelerating to its best pace in nine months. The composite output index rose to 52.1 from 52.0 in July- a modest tick up, but notable for being the strongest reading since last November.

• The real story is underneath the headline: manufacturing did the heavy lifting. The flash manufacturing PMI jumped to 52.8 from 52.0 in July, a 51-month high- meaning the eurozone factory sector hasn’t grown this fast in over four years.

  What Can You Expect To See Next Week

  

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Top Domestic News

1. Industry: Core industries growth slows to 5.4% in July as iron ore, power sector ease while while natural gas, crude oil and fertilisers contract. Read

2. Exports: Central govt. makes Rupee export receipts on par with forex earnings for FTP benefits and export obligations. Read

3. Sugar: Govt. cuts bulk sugar stockholding limit to 15 days as prices hit record highs ahead of the upcoming festive season. Read

Positive

1. Aditya Birla Capital: To enter gold loan business, plans 1K branches in 3 years. Read

2. Coal India: Plans Singapore trading hub in hunt for critical minerals such as lithium and bauxite ores. Read

3. L&T: Wins order worth ~₹5,000 Cr for Dubai airport APM system, to undertake design, procurement, delivery and integration. Read

Negative

1. Rishabh Instruments: Shares faced negative movement as promoters signaled plans for a potential stake sale. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Pakistan: Cash-strapped country seeks $10 billion Exchange Stabilisation Support facility from US to bolster forex stability. Read

2. Saudi Arabia: Houthis claim attack over Najran airport, Aramco facilities in Saudi Arabia. Read

3. US-Iran: US pushes allies, China to back Trump’s economic war on Iran. Read

4. Russia: Missile strikes kill 12 in Kyiv, wound 33 overnight as explosions echo throughout night. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Gaja Alternative AMC

Tempsens Instruments

IPOs with InCred Money

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Startup Talks

1. Peeko: Quick commerce babycare platform raises Rs 67.4 Cr in Series A led by Chiratae Ventures. Read

Other News

1. Unitree: CEO claims humanoid robots nearing “ChatGPT moment” as physical AI advances, major leaps may arrive in coming years. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

Don’t forget to share this with anyone else who needs to hear it!

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

_{InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738}

_{Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in}

_{Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092}

Top Domestic News

1. Railways: Central govt. clears ₹9,450 Cr for 410 km rail projects across West Bengal, Odisha, Andhra Pradesh and Tamil Nadu. Read

2. Roadways: National Highways Builders Federation (NHBF) urges govt. to revisit provisions in revised BOT model, flag concerns over arbitration and termination provisions. Read

3. Renewables: Bidding activity declines to 15 GW in FY26 from 40 GW past year, amidst challenges in agreements and lagging transmission infrastructure. Read

Positive

1. Vedanta: Net-zero investments cross $1 billion, as renewable use up 52% YoY with 2,000 MW of RE capacity. Read

2. L&T Technology Services: Wins ₹716 Cr+ deal from global tech firm to deploy Engineering Intelligence (EI) capabilities. Read

3. BSE: Partners with MSCI to explore launch of index derivatives in India, futures and options contracts linked to MSCI indices to be explored. Read

Negative

1. Stock Market: India replaces Indonesia as Asia’s least-preferred stock market as lack of clear AI exposure remains key concern for Indian equities. Read

2. Hyundai Motor India: To hike vehicle prices by up to ~1% from September 2026, rising input and commodity costs, higher operational expenses cited as reasons. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Bond Market: Global bond slump sends long term borrowing costs to highest in decades as nations fear shocks due to persistent geopolitical turmoil. Read

2. China: Youth unemployment up to 18% as graduate numbers grow, but employment growth slows. Read

3. Congo: Ebola outbreak hits 5,000 cases as plague propagation pace powers past response efforts. Read

4. US-Iran: Trump announces ‘economic warfare’ on Iran, threatens ‘tremendous’ consequences for its backers. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

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Sunshine Pictures IPO

Shankesh Jewellers IPO

IPOs with InCred Money

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Startup Talks

1. Navi: Sachin Bansal’s financial services firm raises $100M from Prosus marking first institutional round. Read

Other News

1. MEA: Reiterates India’s long standing stance in support for negotiated 2-state solution in Palestine amidst visit to Middle East. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

Don’t forget to share this with anyone else who needs to hear it!

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_Disclaimer

_{This content is intended solely for educational and informational purposes. It should not be construed as investment advice, recommendation or solicitation to invest.}

_{Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.}

_{Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit.}

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Top Domestic News

1. Odisha: Govt. unveils ₹1,000 Cr relief package for flood-hit districts, package to cover crop, housing, livelihood and infrastructure losses. Read

2. Trade: India challenges US tariffs on quartz products with WTO consultation bid, in further friction to potential trade deal. Read

3. Kerala: CM flags off containers at Vizhinjam port, as Exim operations begin. Read

Positive

1. Swiggy: Shareholders approve IOCC status, cap foreign ownership at 49.5%. Read

2. Godrej Industries Group (GIG): To enter private credit space, target to raise ~₹2,000 Cr in maiden alternate investment fund (AIF). Read

3. ICICI Bank: Raises fresh $750 million as overseas borrowing accelerates, proceeds to be used towards lending, investment activities. Read

Negative

1. Groww: American startup engine Y Combinator sells nearly 1.2% stake in for ₹1,435 Cr, as shares dip 2.5%. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Uzbekistan: Landlocked nation shows interest to import steel via shorter route from India to cut logistics costs in current China deal. Read

2. Iran: Declares Hormuz Strait to remain shut until US meets interim deal conditions. Read

3. Trump: Says no talks are taking place with Iran and none are scheduled, in move contradicting Iranian position. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

Tap below to get more insights about the live IPO’s

Lalitha Jewellery Mart IPO

Horizon Industrial Parks IPO

Sunshine Pictures IPO

Shankesh Jewellers IPO

Startup Talks

1. Rezolv: Mumbai based lend-tech firm raises $12.5M funding led by Norwest and existing backer 3one4 Capital. Read

Other News

1. Google: Plans to move all Pixel phone production out of China by 2027, Vietnam and India seen as replacements. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

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InCred Money Broking Limited : NSE Member Code 09073, BSE Member Code 6329, MCX Member Code: 55215 , NCDEX Member Code : 1233 NSDL : IN-DP-474-2020 . SEBI Registration No. NZ000164738

Compliance Officer: NSE,BSE,MCX,NCDEX,NSDL : Mr RK Jain,011-40409999 support@stocko.in

Registered Office:- 3rd Floor, Building No.5, Local Shopping Complex, Rishabh Vihar, Near Karkarduma Metro Station. East Delhi – 110092

Top Domestic News

1. Edible Oil: India’s soy oil imports reach a record as the Russia-Ukraine war disrupts sunflower oil shipments. Read

2. Defence: Govt. enters into 30-month lease agreement with General Atomics for two MQ-9B Sea Guardian remotely piloted aircraft. Read

3. Employment: Unemployment rate falls to a four-month low of 5.1% in July, indicating improvement in labour market conditions. Read

Positive

1. L&T: Secures order worth over ₹15,000 Cr in Middle East to develop multiple offshore facilities under EPCIC contract. Read

2. Juniper Green Energy: Receives Letter of Award from SECI for 230 MW round-the-clock renewable power project. Read

3. Rubicon Research: Q1 FY27 net profit rises 96% YoY on strong revenue and EBITDA growth, while shares gain 9.7% to ₹1,776. Read

Negative

1. Cochin Shipyard: Shares fall 4% after Q1FY27 net profit declines 19% YoY to ₹151.45 Cr despite 2.4% revenue increase, with ship repair segment recording losses. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Strait of Hormuz: Shipping traffic falls to new low as ceasefire approaches deadline with no deal in sight. Read

2. Ukraine-Russia: Russia strikes Odesa port infrastructure after Ukraine launches massive aerial attack on Moscow. Read

3. Taiwan: Raises proposed defence spending by 16% to record level above T$1 trillion, as govt. seeks to strengthen military capabilities. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

IPOs with InCred Money

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Startup Talks

1. QpiAI: Opens Asia’s largest quantum chip foundry with $20-25 million invested, planning additional $10-15 million investment targeting 10,000-qubit processors. Read

2. DeHaat Honest Farms: Raises ₹35 crore in pre-Series A funding led by OTP Ventures to expand pesticide-free consumer food business. Read

Other News

1. E-commerce: Order volumes jump 31% during Independence Day sales, while GMV grows 30% YoY. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

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Top Domestic News

1. Inflation: Wholesale price inflation eases marginally to 9.78% in July from 10.19% in June, as food, fuel and power prices cool. Read

2. Foreign Exchange: Forex reserves climb past $700 billion as strong capital inflows strengthen country’s external position. Read

3. Crude Imports: Russian oil accounted for record 51% of India’s crude imports in July, standing at 2.47 million barrels per day. Read

Positive

1. Praj Industries: Q1FY27 profit rises 119% YoY to ₹116 Cr, supported by record order intake of ₹1,000 Cr, shares jump 4.9%. Read

2. TCS: Completes first fully simulated flight cycle of hydrogen based turbine engine with Rolls-Royce, marks industry-first. Read

3. ONGC: Acquires US license to resume Venezuela operations, after years of limitations due to “sanctions-related risks”. Read

Negative

1. Eureka Electronics: Investigates reported child labour at supplier facility, raising concerns over governance and compliance practices. Read

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Source: Trading Economics & Yahoo Finance

(Note: For bond yields, percentage changes refer to change in yield levels, not total return or price appreciation)

Top Global News

1. Japan: Condemns Putin’s visit to disputed Kuril Islands, escalating tensions over territorial claims. Read

2. Korea: South Korea fires warning shots after North Korean soldiers cross military demarcation line. Read

3. USA: White House report identifies 40+ countries facilitating transshipment of Chinese goods to bypass tariffs. Read

4. US-South Korea: Trump says US will reduce military exercises with South Korea, citing lack of help with Iran. Read

Daily FII/ DII - Previous 20 Sessions

FII/DII - Historic Data

Source: Trendlyne

IPOs This Week

IPOs with InCred Money

For ABCs on all upcoming IPOs, subscribe to IPOs with InCred Money!

Startup Talks

1. Centricity: Raises ₹280 Cr in Series A funding led by SMBC Asia Rising Fund to strengthen technology and expand market reach. Read

Other News

1. OpenAI: Revenue chief Denise Dresser exits, marking second major executive departure in short span, amidst pursuit of blockbuster IPO. Read

Now over to you! What was your biggest takeaway? Let’s discuss in the comments.

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Six months ago the consensus on Indian markets was simpler. Inflation was low, the RBI had room to cut, and the resultant cheaper money would do the heavy lifting for economic growth.

That view has fallen apart.

India retail inflation (CPI) hit 4.45% in July, a 19-month high. Food inflation reached 5.52%. The RBI has held its repo rate at 5.25% for four consecutive meetings, and some economists have started talking about a hike rather than a cut. The reason sits outside India, in commodity markets that have been repricing all year.

What began as an energy shock has spread into fertilizer, freight, metals and now food, and it has arrived in your monthly budget with a lag.

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Which measure of inflation is primarily used by the Reserve Bank of India to assess inflation for its monetary policy framework?

A. Wholesale Price Index (WPI)

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Almost Everything is Up, And Not By a Little

The pattern across commodity markets is broad rather than narrow. Crude, refined fuels, industrial metals, precious metals and grains have all moved higher over the past year.

Most of it traces back to a single stretch of water. The Strait of Hormuz carries around a fifth of the world’s seaborne oil and gas. Flows reduced significantly in March and April before partially resuming in June. The oil was never destroyed but it simply could not get out, which is why everything refined from it repriced at once.

European gas has roughly doubled over the same period, and that matters more than it looks, for reasons we have explained later.

Precious metals are the other rows worth a look. Gold is roughly flat this year and silver is actually much lower, after both ran hard through 2025. The FOMO trade was made last year, and it has been drifting since.

The Pinch of Inflation

Global commodity prices may feel abstract but the Indian CPI (retail inflation number) shows that now it’s impacting you too.

Food and beverages contributed 0.8 percentage points to headline inflation in January. By July that had more than doubled to 1.9 points. Transport went from contributing nothing to being clearly visible, which is the fuel shock arriving on schedule.

Nearly half of India’s inflation is coming from a single category, and it is the one nobody can opt out of buying i.e. Food and beverages.

Here’s the part the chart doesn’t show: this could have been much worse. When crude crossed $100 in March, the government cut fuel excise duty sharply, and the oil marketing companies absorbed most of what was left.

So the crude shock got split three ways, between the government’s tax revenue, the oil companies’ profits, and you. Had the full increase reached the pump, the inflation number would have looked very different.

Why is Inflation Still Increasing

The war explains the first rise in energy prices i.e. Crude and Natural Gas. Unfortunately, so much of our economy is dependent on these two commodities that any sustained increases in their price permeate into other inputs. Additionally, there is another big trend taking place, i.e. the AI boom, which is putting pressure on metals.

1. Fertilizer

This is the chain almost nobody watches. Natural gas is the main feedstock for nitrogen fertilizer, and much of the world’s urea and phosphate trade moves through the same waters. Costlier fertilizer means farmers apply less, thinner application means lower yields, and lower yields reach food prices a full season later. That is what keeps food inflation running long after energy has calmed down.

2. Metals

Data centres, transmission upgrades and electrification are pulling hard on copper and aluminium while mine output stays constrained. A new mine takes the better part of a decade, so higher prices cannot summon supply quickly.

3. Weather

El Nino conditions threaten yields globally. Closer to home, economists point to crop damage from excess rainfall and a longer harvest cycle that could lift food prices.

4. Biofuel

When oil is dear, blending vegetable oil into fuel gets more attractive. Every produce diverted into a fuel tank leaves the food chain making agri products costlier.

Most of these are not something a central bank can fix easily by raising interest rates. Rate hikes work by cooling demand and the major issue here is geopolitical in nature.

What This Means For You

The rate cut is off the table for now. The RBI has held the interest rates at 5.25% for four consecutive meetings, and is waiting to see whether energy costs feed into broader prices. Some economists now see a possible hike as early as December if the direction of inflation continues in this direction. The European Central Bank (ECB), Indonesia and the Philippines have already increased interest rates. Whether it helps reign in this supply side inflation is up for debate.

This is a major problem for the US too. US core inflation has now run above the Fed’s 2% target for 64 straight months, which keeps the Fed cautious and making it difficult for them to lower interest rates, which they desperately need. Cheap money is not coming back quickly anywhere.

Coming to your investment portfolio, equities still work as a hedge during inflationary times, but not evenly. Over long periods, companies can raise prices and earnings grow in nominal terms, which is why equities have tended to outpace inflation historically. What this quarter shows is that revenue growth across Indian companies has been healthy, while profit growth has been softer as input costs ate the margins.

In this kind of a cycle, pricing power matters more than growth. The businesses that hold up tend to be the ones that can pass on a cost increase without losing the customer.

The other interesting asset class is Precious metals. Gold and Silver have seen a sharp drawdown since the highs it made in January and are now at levels where it makes sense to increase your allocation if you’re underallocated.

Sustained high inflation is bad news for any economy. Everything gets costlier, the most vulnerable feel it first, and growth eventually slows too. So the real hope is that the Middle East crisis settles soon, before these price rises turn sticky.

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Till the next time,
Vijay
CEO - InCred Money

P.S. I share my thoughts on Investing and the Economy regularly. You can follow me here.

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Consumption accounts for over half of India’s GDP and festivals are when that consumption compresses into a few frenetic weeks.

This year the festive season is set to kick off with Onam, which falls on August 26 this year. The festival is traditionally seen as the informal starting pistol- the season’s first real test. This will soon be followed by Ganesh Chaturthi in a month from now. From there it builds through Navratri, starting October 11, into Dussehra on October 20, and peaks with Diwali on November 8.

The festive economy is much bigger than shopping. Think about Diwali for instance. A family buys a new car. Another upgrades its television, washing machine, refrigerator or at least a phone bought in one of the e-commerce platforms’ flagship sales. There are sweets, new clothes, holiday bookings…behind each purchase is another business- a manufacturer, wholesaler, retailer, delivery company, salesperson or small trader.

The festive spending translates into higher sales -> production ->jobs -> incomes and in turn, more spending. August and September are important as they set the stage for all of this. Retailers and e-commerce platforms start building inventory, launch offers, plan logistics, and hiring in the gig economy spikes ahead of the demand surge.

Rural spending too tends to accelerate around the festive season as several cash-flow and consumption triggers come together. By this period, farmers have greater visibility on the progress of the south-west monsoons and progress of the kharif crops. Harvesting and procurement begins in several regions, improving rural incomes.

The season is entangled with weddings, amplifying the boost to the economy created from the festive season that spills over to the next year. As per estimates by the Confederation of All India Traders, Diwali generated over Rs 5 lakh crore in festive sales last year. While we are still in the run up to this season, the economy can benefit from a festive boost.

“The turbulent global economy is likely to have some bearing on domestic economic activity”, the RBI Monetary Policy Committee cautioned in it’s bi-monthly statement earlier this month. Energy prices and supply chain pressures remain elevated and uncertain. While the south-west monsoon is deficient and uneven so far, it’s an evolving situation. Two tailwinds continue to do some of the work this cycle too- last year’s GST 2.0 rate simplification is still working through the system, and the trend of premiumization continues.

The honest caveat: most of the data available for this year right now is still forward-looking. The real read will come from Navratri onward in October. But so far, the setup looks strong on paper.

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This Week’s Numbers Wrapped Up

United States: Mixed Signals

• CPI cooled to 3.4% YoY (from 3.5%)- the “good news” number of the week

• PPI flat MoM, missing the +0.2% forecast

• Retail sales fell 0.6% MoM, missing forecast

• Michigan Consumer Sentiment dropped to 51.0, well below the ~55 expected

India: Strong Pre-Festive Demand

• WPI inflation eased marginally to 9.78% YoY, though food prices rose even as fuel/power cooled

• Merchandise trade deficit widened to a six-month high of $31.98 billion

• Exports hit a record $44.24bn; imports at a nine-month high of $76.22bn

• Passenger vehicle sales jumped to 31.2% YoY (from 18.2%) — an early signal of pre-festive-season buying

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