Foseco India's mystery stake buyer turns out to be a diversified institutional group Chemicals
Morgan Advanced Materials' 15% Foseco India stake (~₹678cr, disclosed Aug 28) has been placed with a diversified set of domestic mutual funds (LIC, Motilal Oswal, Invesco, SBI, Mahindra Manulife, Mirae Asset), Catamaran Ventures (the Narayana Murthy family office), and foreign investors Morgan Stanley and Citigroup — proceeds fund Morgan's own group deleveraging. No single buyer emerges with board influence, resolving the governance uncertainty that had kept the pending QUALITY-WAIT->HOLD call unconfirmed.
Tata Sons governance dispute over Chandrasekaran's reappointment weighs on TCS Information Technology
Tata Trusts reportedly opposed the Tata Sons board's decision to reappoint N Chandrasekaran for another five-year term as executive chairman and disagreed with a proposed Tata Sons IPO, driving TCS shares down more than 3% on Sept 18. The friction sits at the parent-company level rather than TCS's own client book, but it is a live overhang on the leadership the BUY call's franchise-risk read partly depends on; single-sourced reporting only, so treat cautiously.
India Glycols completes three-way demerger, becomes a pure chemicals business FMCG
Effective Sept 1, India Glycols split into three listed entities — IGL Spirits (biofuel/spirits, 1:1 shares) and Ennature Bio Pharma (biopharma/nutraceuticals, 1:3 shares) demerged out, leaving the continuing listed entity a focused chemicals business. Management has run investor roadshows and plant visits since, and today's +18.74% move likely reflects demerger-driven re-rating rather than an operating change — relevant context for the pending AVOID->HOLD call.
Fed hikes rates on Middle East-driven inflation as oil and rupee pressure persist
The Fed raised rates 25bp to 3.75-4.00% on Sept 16 — its first hike since 2023 — citing inflation worsened by the Middle East war, with markets pricing one more hike this year. Brent has swung between roughly $92 and $109/bbl this month on Strait of Hormuz disruption, keeping the rupee near record weakness (~95.96/USD, down 8.2% over 12 months) and pushing India's CPI to 4.82% in August, even as Q1 FY27 GDP grew a strong 7.8%. RBI has held its repo rate at 5.25% for a third straight meeting despite the inflation uptick.