The Close

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The Close · The Open · The Long Desk · Archive · Research · Top Stocks
Mon, 21 Sep 2026
1432 companies · 1453 sector slots · 21 sectors · 18 below Rs1000cr and not scanned · long-term lens

Trend Spotlight

Crude's third straight down session helped the Sensex close up 0.76% on Sept 21, easing -- for now -- the oil-driven inflation and rupee pressure that has built since the Fed's Sept 16 hike.

Brent fell 2.73% to $97.56/bbl, a third consecutive decline after briefly topping $100 amid the West Asia conflict; the Sensex closed at 74,858.99 (+564 pts) and the Nifty added 0.29%. The relief is real but narrow -- WPI near 10%, CPI at an elevated 4.82%, the rupee near 96/USD and the Fed still signalling at least one more 2026 hike are all unresolved, so one volatile crude session is noise against a long-term entry read, not a change to it.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 23,414.30 ▲ +67.90 ▲ +0.29% 19.79 2.83
Nifty Next 50 72,083.95 ▲ +58.55 ▲ +0.08% 19.06 3.21
Nifty 500 22,860.05 ▲ +19.50 ▲ +0.09% 22.15 3.17
Nifty Bank 56,470.65 ▲ +111.95 ▲ +0.20% 13.36 1.69
NIFTY Midcap 100 62,013.10 ▼ -178.15 ▼ -0.29% 29.89 4.21
▲ 1235 advancing ■ 33 unchanged ▼ 1376 declining of 2644 equities, vs the 2026-09-18 close
Cash market, ₹ crore
FII / FPI net
▼ -576.20
bought 10,637 · sold 11,213
DII net
▲ +2,797.27
bought 14,099 · sold 11,301
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20260921 (levels, index P/E and P/B) and the full-market bhavcopy (breadth).

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

Sector performance

This session's index move, next to the desk's standing stance. The stance is a valuation-and-quality reading over years — it does not move because an index had a good day. Sectors with no listed NSE index show — for the session columns; the stance still applies.

SectorIndexSession Idx P/EStance
Pharmaceuticals Nifty Pharma · 19 researched 27,021.15 ▲ +1.16% 41.8 AVOID
Realty Nifty Realty · 5 researched 853.85 ▲ +1.14% 36.3 WATCH
Healthcare & Hospitals Nifty Healthcare Index · 6 researched 16,796.90 ▲ +1.10% 44.0 WATCH
FMCG Nifty FMCG · 8 researched 45,900.90 ▲ +0.95% 31.8 WATCH
Banks Nifty Bank · 13 researched 56,470.65 ▲ +0.20% 13.4 AVOID
Energy & Power Nifty Energy · 15 researched 37,818.55 ▲ +0.12% 14.7 WATCH
Automobiles Nifty Auto · 34 researched 27,151.10 ▲ +0.08% 31.6 WATCH
Financial Services Nifty Financial Services · 10 researched 25,524.70 ▲ +0.06% 15.7 WATCH
Information Technology Nifty IT · 17 researched 28,830.90 ▼ -0.08% 18.4 WATCH
Hospitality & Tourism Nifty India Tourism · 9 researched 7,864.10 ▼ -0.12% 88.7 WATCH
Metals & Mining Nifty Metal · 15 researched 12,972.70 ▼ -0.61% 15.8 WATCH
Capital Goods no listed index · 15 researched WATCH
Chemicals no listed index · 6 researched WATCH
Commercial Services no listed index · 6 researched WATCH
Construction & Materials no listed index · 9 researched WATCH
Diversified & Other no listed index · 1 researched WATCH
Logistics & Transport no listed index · 5 researched WATCH
Packaging & Plastics no listed index · 1 researched WATCH
Retail & Consumer no listed index · 3 researched WATCH
Telecom & Media no listed index · 5 researched WATCH
Textiles & Apparel no listed index · 4 researched WATCH

Movers in the universe

Largest moves among the 1429 tracked names this session, against the 2026-09-18 close.

CompanyCallPrev CloseMove
Protean eGov Technologies Ltd PROTEAN HOLD ₹490.30 ₹588.35 ▲ +20.00%
Indo Rama Synthetics (India) Ltd INDORAMA HOLD ₹91.05 ₹106.55 ▲ +17.02%
Ashiana Housing Ltd ASHIANA QUALITY-WAIT ₹354.75 ₹405.55 ▲ +14.32%
KPI Green Energy Ltd KPIGREEN AVOID ₹284.45 ₹321.40 ▲ +12.99%
Zota Health Care Ltd ZOTA AVOID ₹1,144.50 ₹1,287.80 ▲ +12.52%
Oracle Financial Services Software Ltd OFSS QUALITY-WAIT ₹11,896.00 ₹10,911.00 ▼ -8.28%
TCC Concept Ltd TCC HOLD ₹49.85 ₹45.99 ▼ -7.74%
Macpower CNC Machines Ltd MACPOWER QUALITY-WAIT ₹2,104.50 ₹1,955.30 ▼ -7.09%
Carysil Ltd CARYSIL HOLD ₹1,131.30 ₹1,064.90 ▼ -5.87%
Brightcom Group Ltd BCG HOLD ₹10.26 ₹9.67 ▼ -5.75%

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 (9)

new
unconfirmed: sector, news
Unconfirmed: sector, news not checked — Weighted average rating 3.92/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 2/5) — PEG 2.01; P/E cheaper than 59% of sector peers (P/E 35.44); EV/EBITDA 30.4, B/M 0.083. Watch for a better entry.
new
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 3% of sector peers (P/E 93.13); EV/EBITDA 34.4, B/M 0.102. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 6.44; P/E cheaper than 50% of sector peers (P/E 84.31); EV/EBITDA 19.3, B/M 0.071. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 6.06; P/E cheaper than 31% of sector peers (P/E 31.52); EV/EBITDA 14.6, B/M 0.323. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 35% of sector peers (P/E 22.95); EV/EBITDA 22.9, B/M 0.106. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 42% of sector peers (P/E 62.09); EV/EBITDA 57.3, B/M 0.173. Watch for a better entry.
new
Good business, bad price today (Value 1/5) — PEG 2.74; P/E cheaper than 29% of sector peers (P/E 54.76); EV/EBITDA 41.3, B/M 0.091. Watch for a better entry.
new
Good business, bad price today (Value 1/5) — PEG 0.26; P/E cheaper than 36% of sector peers (P/E 34.48); EV/EBITDA 29.0, B/M 0.214. Watch for a better entry.

Awaiting a second session (22)

TickerClosePublished PendingNote
AGI ₹819.35 HOLD BUY if next session holds
ARTEMISMED ₹339.05 QUALITY-WAIT BUY if next session holds
BLUEJET ₹579.65 HOLD QUALITY-WAIT if next session holds
CAMPUS ₹211.16 HOLD QUALITY-WAIT if next session holds
CENTUM ₹4,739.20 HOLD QUALITY-WAIT if next session holds
CHALET ₹860.05 BUY QUALITY-WAIT if next session holds
EIEL ₹203.89 AVOID HOLD if next session holds
EMCURE ₹2,009.30 BUY HOLD if next session holds
GESHIP ₹1,485.00 HOLD BUY if next session holds
KDDL ₹4,006.80 HOLD QUALITY-WAIT if next session holds
KIRLPNU ₹714.45 BUY QUALITY-WAIT if next session holds
KMCSHIL ₹160.45 HOLD QUALITY-WAIT if next session holds
LUPIN ₹2,124.50 BUY HOLD if next session holds
MATRIMONY ₹549.80 HOLD QUALITY-WAIT if next session holds
PGEL ₹536.55 AVOID HOLD if next session holds
RIIL ₹705.35 AVOID HOLD if next session holds
SANOFICONR ₹3,997.60 QUALITY-WAIT HOLD if next session holds
SHRIPISTON ₹4,508.70 BUY HOLD if next session holds
SOLARINDS ₹19,265.00 HOLD QUALITY-WAIT if next session holds
SPARC ₹196.10 BUY HOLD if next session holds
STAR ₹1,235.10 BUY HOLD if next session holds
TCPLPACK ₹3,881.10 HOLD QUALITY-WAIT if next session holds

Top Stories

EU draft rules recommend excluding India from its authorised metal-scrap export list Metals & Mining

The European Commission's draft assessment finds India has not demonstrated sound environmental management of metal waste and recommends against authorising Indian metal-scrap exports, ahead of a Nov 21, 2026 final list and a May 2027 effective date. The list can still change before the Oct 16 consultation closes, but this is the first concrete evidence behind the open claim that India's scrap-dependent steel/aluminium producers face a real access risk, not just a proposal risk.

Vedanta says ED's FEMA probe into Hindustan Zinc has imposed no penalty to date; case stays open Metals & Mining

Vedanta has publicly stated the ED has not imposed any penalty, restriction or adverse direction following June's FEMA searches over historical royalty and brand-fee payments to the parent, and says operations are unaffected. No escalation -- show-cause notice or compounding order -- has surfaced. That supports the open claim the probe ends without sanction, but the case is still at an ongoing civil-provisions stage, so it is not resolved either way yet.

HINDZINC

Sanofi India confirms CFO's Sept 30 exit is a planned move to a global Sanofi role; no successor named yet Pharmaceuticals

Multiple outlets confirm Rachid Ayari steps down as Whole Time Director and CFO on Sept 30, 2026 to take a role within global Sanofi, with the company still searching for a successor. No reporting ties the exit to the revived BARC criminal case, but the absence of a named successor keeps the succession-uncertainty risk behind the pending BUY->HOLD call flip unresolved rather than settled.

SANOFI

Shriram Pistons posts highest-ever FY26 results, guides Antolin margins more than doubling within three years Automobiles

FY26 consolidated income rose 24.9% YoY to Rs 4,571cr with EBITDA up 18% to Rs 989cr; management guided the Antolin subsidiary's EBITDA margin from 9-10% toward 20%+ within three years alongside roughly Rs 200cr/year of continued capex. Single-sourced, but the combination of a record print and a concrete multi-year margin-expansion target is real evidence against the pending BUY->QUALITY-WAIT call flip, not just reiterated guidance.

SHRIPISTON
Sources: simplywall.st

Jamna Auto: both promoters' Sept 11 block-deal sales confirmed, still no disclosed reason Automobiles

Pradeep Singh Jauhar's stake fell from 6.46% to 3.96% and Randeep Singh Jauhar's from 2.49% to 1.88% in same-day block deals; no company disclosure of a benign reason (estate, tax restructuring) has surfaced, and no further sales or pledges have followed. The open governance-flag claim behind the pending BUY->HOLD call flip remains neither confirmed nor falsified.

JAMNAAUTO

Sector Scorecard

Entry score is 40% cheap-vs-history + 25% quality trend + 20% news catalyst + 15% technicals, for the 3 sectors with a researched catalyst. The other 18 show : no catalyst was researched for them, so their score renormalises over the remaining three inputs rather than assuming a neutral headline. ≥62 accumulate · 45–61 watch · <45 avoid.

SectorStanceEntryCheap QualityTechNews IndexIdx P/EB/W/H/A
Information Technology 75 scanned · 17 researched WATCH 60.2 59.9 78.5 30.4 ▼ -0.08% 18.4 5/9/54/7
Banks 40 scanned · 13 researched AVOID 43.2 28.8 52.3 66.7 ▲ +0.20% 13.4 0/0/31/9
Pharmaceuticals 85 scanned · 19 researched AVOID 44.4 19.0 72.0 66.2 ▲ +1.16% 41.8 4/20/50/11
Automobiles 109 scanned · 34 researched WATCH 50.7 27.1 78.6 68.0 +0 ▲ +0.08% 31.6 1/21/76/11
FMCG 105 scanned · 8 researched WATCH 57.5 53.7 68.8 49.0 ▲ +0.95% 31.8 4/19/64/18
Metals & Mining 83 scanned · 15 researched WATCH 50.9 37.1 67.9 62.0 -0 ▼ -0.61% 15.8 0/10/54/19
Realty 38 scanned · 5 researched WATCH 55.3 57.7 52.0 54.3 ▲ +1.14% 36.3 1/2/15/20
Energy & Power 83 scanned · 15 researched WATCH 56.2 50.0 63.4 61.0 ▲ +0.12% 14.7 5/7/39/32
Financial Services 148 scanned · 5 ranked elsewhere · 10 researched WATCH 51.1 52.5 43.6 60.0 ▲ +0.06% 15.7 4/4/90/50
Healthcare & Hospitals 58 scanned · 16 ranked elsewhere · 6 researched WATCH 49.5 28.9 73.8 63.9 ▲ +1.10% 44.0 4/16/33/5
Hospitality & Tourism 38 scanned · 9 researched WATCH 61.9 61.8 67.4 53.0 ▼ -0.12% 88.7 4/5/19/10
Chemicals 99 scanned · 6 researched WATCH 58.7 53.0 68.7 57.2 2/11/63/23
Construction & Materials 123 scanned · 9 researched WATCH 60.3 67.2 61.8 39.2 5/9/69/40
Capital Goods 103 scanned · 15 researched WATCH 53.0 32.5 78.5 65.0 11/13/64/15
Textiles & Apparel 48 scanned · 4 researched WATCH 55.8 50.0 61.9 61.0 2/4/29/13
Retail & Consumer 67 scanned · 3 researched WATCH 57.5 53.1 68.4 61.0 +0 2/8/38/19
Packaging & Plastics 34 scanned · 1 researched WATCH 52.3 38.0 64.7 69.8 1/3/22/8
Logistics & Transport 25 scanned · 5 researched WATCH 45.4 25.5 67.6 61.6 5/3/10/7
Telecom & Media 29 scanned · 5 researched WATCH 52.8 50.0 60.2 48.0 3/1/14/11
Commercial Services 31 scanned · 6 researched WATCH 59.6 64.0 52.8 59.2 2/2/14/13
Diversified & Other 32 scanned · 1 researched WATCH 47.5 33.4 59.7 65.0 0/3/18/11

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

Stocks to Watch

Split evenly 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. Micro-cap names are boxed and flagged Highly Volatile — worth watching, not a call to buy — since their price swings run about twice every other tier's. Each card shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
composite 76.2 on quality, timing, valuation
Composite 76.2 Mkt Cap 163,571 cr · Large P/E 22.08 ROCE 35.9% Piotroski 3/3
new call this session
P/E in the 29th percentile of its own 3-year range · ROCE 44.8% (up 9.8pt over 5y)
Composite 75.7 Mkt Cap 57,291 cr · Large P/E 35.44 ROCE 44.8% Piotroski 5/8
new call this session
unconfirmed: sector, news
P/E in the 0th percentile of its own 3-year range · ROCE 90.7% (up 39.7pt over 5y) · -31.9% off its 52-week high
Composite 78.5 Mkt Cap 22,970 cr · Mid P/E 34.4 ROCE 90.7% Piotroski 6/8
new call this session
P/E in the 10th percentile of its own 3-year range · ROCE 13.9% (up 4.9pt over 5y) · Piotroski 9/9
Composite 76.1 Mkt Cap 25,995 cr · Mid P/E 12.25 ROCE 13.9% Piotroski 9/9
new call this session
P/E in the 14th percentile of its own 3-year range
Composite 85.0 Mkt Cap 13,995 cr · Small P/E 22.95 ROCE 69.2% Piotroski 4/9
new call this session
P/E in the 19th percentile of its own 3-year range · ROCE 29.3% (up 17.3pt over 5y) · -28.1% off its 52-week high
Composite 78.8 Mkt Cap 5,004 cr · Small P/E 18.99 ROCE 29.3% Piotroski 5/9
new call this session
Highly Volatile
P/E in the 60th percentile of its own 3-year range · ROCE 19.7% (down 3.3pt over 5y)
Composite 64.3 Mkt Cap 3,734 cr · Micro P/E 83.6 ROCE 19.7% Piotroski 3/9
new call this session
Highly Volatile
P/E in the 100th percentile of its own 3-year range · ROCE 14.4% (up 14.4pt over 5y) · Piotroski 9/9
Composite 60.2 Mkt Cap 4,074 cr · Micro P/E 34.48 ROCE 14.4% Piotroski 9/9

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.