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The Close · The Open · The Long Desk · Archive · Research
Fri, 4 Sep 2026
1440 companies · 1461 sector slots · 21 sectors · 10 below Rs1000cr and not scanned · long-term lens

Trend Spotlight

Fed rate-hike odds for the Sept 15-16 FOMC have surged past 60% after Chair Warsh's hawkish Jackson Hole remarks, with Trump now publicly pushing back against a hike.

CME FedWatch and other trackers put September hike probability at 58-70%, up sharply from roughly 33% before Warsh's comments, after a strong US jobs report reinforced the case for tightening. Trump is now publicly pressuring the Fed against hiking, an unresolved political overhang the market is pricing alongside the data into the meeting. A 25bp hike would lift the fed funds range to 3.75-4%, tightening global liquidity just as Brent crude has climbed toward $96-97/bbl on Iran-related escalation risk -- a combination that raises the stakes for Indian equities and the rupee without a clear resolution yet.

Day ahead

A flat GIFT Nifty and a soft Friday Wall Street close give no strong overnight signal; crude near four-month highs is the bigger watch-item into the open.

GIFT Nifty was roughly flat (~23,999, -0.04%) into Friday's close -- a muted, directionless reading. US markets closed lower Friday (Dow -0.51%, S&P -0.38%, Nasdaq -0.29%) on rate-hike fears and a tech sell-off, reversing Thursday's Asia-led rally (Nikkei +1.47%) that had followed dovish-leaning comments from Fed Governor Waller -- a reminder the Fed narrative is swinging session to session ahead of the Sept 15-16 decision. Brent crude near $96-97/bbl and a still-unsettled USD/INR (94.4-95.6 range this week, sources disagree on the exact recent print) are the more persistent headwinds to watch, against a backdrop where India's July CPI (4.45% YoY) and the RBI's neutral 5.25% repo stance haven't changed.

Calls this session

A change to anything but AVOID publishes only after two consecutive sessions say the same thing; AVOID publishes at once.

Sector stance changed (2)

Published this session (21)

new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 38% of sector peers (P/E 36.52); EV/EBITDA 13.9, B/M 0.153. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 55% of sector peers (P/E 36.33); EV/EBITDA 25.2, B/M 0.162. Watch for a better entry.
new
Mixed signal (weighted avg 3.49/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 2.53/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 1/5) — PEG 1.7; P/E cheaper than 0% of sector peers (P/E 17.49); EV/EBITDA 14.0, B/M 0.101. Watch for a better entry.
new
Weighted average rating 2.46/5 across the panel — too many weak lenses to own.
new
Mixed signal (weighted avg 3.69/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 17% of sector peers (P/E 13.56); EV/EBITDA 9.2, B/M 0.291. Watch for a better entry.
new
Mixed signal (weighted avg 3.61/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.51/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 34% of sector peers (P/E 37.46); EV/EBITDA 40.2, B/M 0.131. Watch for a better entry.
new
Mixed signal (weighted avg 2.68/5 across available lenses) — no strong edge either way.

and 9 more.

Awaiting a second session (30)

TickerClosePublished PendingNote
ABBOTINDIA ₹26,065.00 QUALITY-WAIT HOLD if next session holds
AJMERA ₹117.76 BUY HOLD if next session holds
ARTEMISMED ₹332.80 BUY QUALITY-WAIT if next session holds
BBL ₹2,289.30 AVOID HOLD if next session holds
CAMPUS ₹223.24 QUALITY-WAIT BUY if next session holds
CHALET ₹896.75 BUY QUALITY-WAIT if next session holds
CMLL ₹503.05 HOLD BUY if next session holds
CMPDI ₹243.92 HOLD BUY if next session holds
DPABHUSHAN ₹1,414.20 HOLD BUY if next session holds
FLAIR ₹243.71 HOLD BUY if next session holds
GENESYS ₹230.88 AVOID HOLD if next session holds
GRAVITA ₹1,661.60 AVOID HOLD if next session holds
HYUNDAI ₹2,205.00 QUALITY-WAIT BUY if next session holds
ICICIGI ₹1,510.00 AVOID HOLD if next session holds
INDIAMART ₹1,726.40 HOLD BUY if next session holds
IPCALAB ₹1,965.30 HOLD QUALITY-WAIT if next session holds
KDDL ₹3,911.00 HOLD QUALITY-WAIT if next session holds
MATRIMONY ₹529.05 HOLD BUY if next session holds
MOIL ₹252.30 AVOID HOLD if next session holds
MRPL ₹174.83 BUY HOLD if next session holds
NH ₹1,858.50 QUALITY-WAIT BUY if next session holds
PPLPHARMA ₹214.22 HOLD QUALITY-WAIT if next session holds
RAMCOSYS ₹611.20 BUY QUALITY-WAIT if next session holds
SEKURITIND ₹114.56 BUY HOLD if next session holds
STYLAMIND ₹3,387.40 BUY QUALITY-WAIT if next session holds
TATASTEEL ₹188.79 HOLD BUY if next session holds
TECHNOCRAF ₹366.10 BUY HOLD if next session holds
TVSHLTD ₹13,374.00 AVOID HOLD if next session holds
YATRA ₹113.49 BUY QUALITY-WAIT if next session holds
ZFCVINDIA ₹2,551.90 HOLD QUALITY-WAIT if next session holds

Reporting today

No tracked name reports today.

Coming up

Source: NSE event calendar, filtered to the 1440 tracked names.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 23,897.70 ▲ +24.25 ▲ +0.10% 20.20 2.89
Nifty Next 50 72,880.90 ▼ -170.95 ▼ -0.23% 19.27 3.24
Nifty 500 23,254.15 ▲ +0.10 ■ +0.00% 22.53 3.24
Nifty Bank 57,369.65 ▼ -10.95 ▼ -0.02% 13.57 1.72
NIFTY Midcap 100 63,079.05 ▼ -156.15 ▼ -0.25% 30.40 4.34
▲ 1403 advancing ■ 39 unchanged ▼ 1186 declining of 2628 equities, vs the 2026-09-03 close
Cash market, ₹ crore
FII / FPI net
▼ -3,111.94
bought 13,858 · sold 16,970
DII net
▲ +8,930.12
bought 19,254 · sold 10,324
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20260904 (levels, index P/E and P/B) and the full-market bhavcopy (breadth).

Index P/E from NSE's official daily index file.

Since We Flagged

The desk's track record — the FIRST call made on each standing name, against its call today. Entry price is the close on the day of that first call, read from the cached bhavcopy for that date. "Unchanged" means the original call still stands.

CompanyFirst flaggedVerdict then Verdict nowAt flagNow Move
Tribhovandas Bhimji Zaveri LtdTBZ Tue, 18 Aug 2026 BUY unchanged ₹251.05 ₹480.85 ▲ +91.5%
PVP Ventures LtdPVP Tue, 18 Aug 2026 AVOID unchanged ₹40.20 ₹67.94 ▲ +69.0%
Goodluck India LtdGOODLUCK Tue, 18 Aug 2026 BUY unchanged ₹1,330.00 ₹472.90 ▼ -64.4%
Shanthi Gears LtdSHANTIGEAR Tue, 18 Aug 2026 HOLD unchanged ₹388.95 ₹621.75 ▲ +59.9%
Jindal Worldwide LtdJINDWORLD Tue, 18 Aug 2026 HOLD unchanged ₹36.19 ₹57.51 ▲ +58.9%
TD Power Systems LtdTDPOWERSYS Tue, 18 Aug 2026 HOLD unchanged ₹1,586.60 ₹740.10 ▼ -53.4%
Oriental Aromatics LtdOAL Tue, 18 Aug 2026 AVOID unchanged ₹341.95 ₹519.90 ▲ +52.0%
Elitecon International LtdELITECON Tue, 18 Aug 2026 HOLD unchanged ₹17.13 ₹8.68 ▼ -49.3%
Wonder Electricals LtdWEL Tue, 18 Aug 2026 HOLD unchanged ₹146.24 ₹76.03 ▼ -48.0%
Welspun Corp LtdWELCORP Wed, 5 Aug 2026 BUY QUALITY-WAIT ₹1,788.10 ₹2,590.60 ▲ +44.9%
Welspun Enterprises LtdWELENT Tue, 18 Aug 2026 HOLD unchanged ₹575.85 ₹813.60 ▲ +41.3%
Milky Mist Dairy Food LtdMILKYMIST Tue, 18 Aug 2026 QUALITY-WAIT unchanged ₹181.50 ₹252.43 ▲ +39.1%

1428 more standing calls with history are not shown — this table is the 12 that have moved most since we flagged them.

Source: data/state.json (call memory) × data/prices/<date>.json.

Top Stories

Saksoft's top-client stress is confirmed still live into Q4 FY26 -- not the resolution the open claim was watching for Information Technology

Saksoft's top 5 and top 10 clients still contribute ~40% and ~57% of revenue, and Q4 FY26 results missed estimates specifically on continued weakness at its top 2 clients. Management is not cutting FY guidance -- INR1,000-1,100cr revenue, 17-18% EBITDA margin, 25%+ growth are all reiterated -- so this doesn't falsify the BUY call, but it confirms rather than resolves the client-concentration risk the open claim was built on.

SAKSOFT

An unsolicited $1.10/share tender offer for ~31% of Yatra emerges alongside its strongest year in two decades Hospitality & Tourism

Magna Holdings has commenced an unsolicited tender offer for up to 20 million Yatra shares (~31% of shares outstanding), a potential change-of-control event the pending BUY->QUALITY-WAIT question didn't anticipate. It lands just as Yatra reports its most profitable FY26 in 20 years -- revenue +27% YoY, gross margin beating guidance, 163 new corporate customers -- so the underlying business looks clean, but the tender introduces a governance/control uncertainty worth flagging. Single-sourced; worth confirming independently.

YATRA

Rane Madras jumps 15% on intra-group consolidation, not a standalone operational win Automobiles

RML shares surged 15.46% after Rane Madras agreed to acquire Hindustan Composites' friction business and announced Rane Engine Valve and Rane Brake Lining will merge into it -- inorganic scale-building within the Rane group, alongside FY26 revenue +13.4% and earnings +185% YoY. A real growth-outlook positive, though single-sourced and not yet checked against the underlying filing.

RML
Sources: simplywall.st

Muthoot Finance's Q1 FY27 asset quality actually improved, undercutting (but not resolving) the classification-shift question Financial Services

Gross Stage-3 fell to 2.28% from 2.58% YoY and net Stage-3 to 1.99% from 2.10%, even as AUM grew 43% to ~INR191,000cr -- the opposite of the deterioration the open claim was framed around. New RBI LTV norms did cause some transition-related disruption, but nothing was found on a loan-level-to-borrower-level reclassification driving the numbers either way, so the open claim stays live, just less urgent.

MUTHOOTFIN

Datamatics' Digital Experience segment is softening as a foreign subsidiary is wound down Information Technology

Choice Broking cut estimates on Datamatics citing near-term softness in the Digital Experience segment, and a foreign subsidiary liquidation coincided with a profit slump -- reporting doesn't clarify whether that's a strategic refocus or an underperforming unit being closed. No client-loss or governance flag, but together this is a mild negative for the growth-outlook case behind the BUY call. Single-sourced.

DATAMATICS

Sector Scorecard

Entry score is 40% cheap-vs-history + 25% quality trend + 15% technicals, renormalised over those three — the 20% news catalyst is not counted because no research was written for this session. It is not treated as neutral; it is absent. ≥62 accumulate · 45–61 watch · <45 avoid.

SectorStanceEntryCheap QualityTechNews IndexIdx P/EB/W/H/A
Information Technology 75 scanned · 15 researched ACCUMULATE 62.8 62.0 78.7 38.6 ▼ -0.47% 19.6 15/8/44/8
Banks 40 scanned · 12 researched AVOID 40.4 24.1 52.3 64.2 ▼ -0.02% 13.6 0/0/30/10
Pharmaceuticals 85 scanned · 10 researched AVOID 43.8 16.9 72.0 68.4 ▼ -0.68% 41.0 0/17/58/10
Automobiles 110 scanned · 18 researched WATCH 49.5 24.2 78.4 68.7 ▼ -0.45% 32.2 34/19/45/12
FMCG 107 scanned · 4 researched WATCH 56.0 50.0 67.9 52.0 ▼ -0.14% 31.8 14/22/54/17
Metals & Mining 83 scanned · 5 researched WATCH 47.1 27.9 67.9 63.8 ▲ +1.07% 16.2 16/10/38/19
Realty 38 scanned · 3 researched WATCH 52.7 50.0 52.1 60.9 ▼ -0.90% 38.6 3/2/14/19
Energy & Power 83 scanned · 8 researched WATCH 51.1 39.6 63.4 61.0 ▼ -0.19% 14.8 10/7/33/33
Financial Services 150 scanned · 5 ranked elsewhere · 5 researched WATCH 50.4 50.0 44.2 61.6 ▲ +0.49% 16.0 11/4/84/51
Healthcare & Hospitals 58 scanned · 16 ranked elsewhere · 2 researched WATCH 46.0 21.3 73.8 65.5 ▼ -0.87% 43.0 11/14/27/6
Hospitality & Tourism 37 scanned · 6 researched ACCUMULATE 62.4 63.8 69.5 46.6 ▼ -0.24% 88.2 15/4/8/10
Chemicals 100 scanned · 1 researched WATCH 57.8 50.0 68.5 61.0 15/15/46/24
Construction & Materials 127 scanned · 4 researched WATCH 59.1 63.5 61.8 42.8 18/11/59/39
Capital Goods 103 scanned · 5 researched WATCH 49.3 26.2 78.1 62.8 18/19/50/16
Textiles & Apparel 48 scanned · 2 researched WATCH 52.1 42.6 62.0 61.2 11/8/15/14
Retail & Consumer 66 scanned WATCH 58.8 50.0 68.7 66.1 7/10/30/19
Packaging & Plastics 34 scanned WATCH 49.5 32.2 65.3 69.5 8/4/14/8
Logistics & Transport 25 scanned · 1 researched WATCH 47.0 27.3 70.0 61.0 9/3/6/7
Telecom & Media 29 scanned · 1 researched WATCH 52.3 50.0 60.3 45.0 8/1/9/11
Commercial Services 31 scanned · 2 researched WATCH 54.1 51.3 52.8 63.8 6/2/10/13
Diversified & Other 32 scanned · 1 researched WATCH 48.5 35.9 59.7 63.2 1/4/15/12

Source: data/verdicts.json × NSE sector index closes.

Stocks to Watch

Split across large/mid/small/micro cap so this list isn't one tier's picks — new calls first, then the highest long-term composites within each. Each shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
P/E in the 98th percentile of its own 3-year range · ROCE 28.2% (up 3.2pt over 5y)
Composite 51.9 Mkt Cap 327,539 cr · Large P/E 27.8 ROCE 28.2% Piotroski 5/9
new call this session
P/E in the 49th percentile of its own 3-year range · ROCE 60.3% (up 3.3pt over 5y) · Piotroski 7/8
Composite 70.1 Mkt Cap 18,822 cr · Mid P/E 17.49 ROCE 60.3% Piotroski 7/8
new call this session
P/E in the 28th percentile of its own 3-year range
Composite 80.4 Mkt Cap 5,296 cr · Small P/E 13.56 ROCE 26.2% Piotroski 6/9
new call this session
P/E in the 41th percentile of its own 3-year range · ROCE 24.1% (down 1.9pt over 5y) · Piotroski 7/9
Composite 63.5 Mkt Cap 2,574 cr · Micro P/E 11.66 ROCE 24.1% Piotroski 7/9

How We Evaluate

MetricWhy it is in the frameworkSource
Return on capital, level and trendDurable high ROCE predicts future returns; the trend separates a moat from a good year Novy-Marx 2013 JFE
Gross profitability (GP/assets)As predictive as book-to-market, and less prone to the value trap Novy-Marx 2013 JFE
Piotroski F-scoreA nine-signal accounting checklist that separates real improvers from statistically cheap traps Piotroski 2000 JAR
Cash-flow-to-net-profitAccrual-heavy profit reverts; cash-backed profit persists Sloan 1996 TAR
P/E versus the stock's own historyCheap relative to itself, not to a peer set that may be expensive as a whole Basu 1977 JF
Book-to-marketThe value premium, in its original form Fama–French 1992 JF
EV/EBITDACapital-structure-neutral, so it compares a leveraged firm to an unleveraged one Practitioner standard
Altman Z and interest coverageDistressed firms have delivered lower, not higher, returns — screen them out rather than chase them Altman 1968 JF; Campbell/Hilscher/Szilagyi 2008 JF
52-week-high proximity, 200-DMANearness to the high has predicted continuation — but momentum crashes, so never alone George & Hwang 2004 JF; Daniel & Moskowitz 2016 JFE
Promoter pledgePledged promoter holding is a governance red flag ahead of a forced sale Not currently available from either source — no penalty is applied

Full derivation in METHODOLOGY.md.