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Nomura reaffirmed its bullish stance on Indias steel sector, citing strong domestic demand, Chinese production cuts, and potential Beijing stimulus. It raised targets for JSW Steel (Rs 1,300) and Jindal Steel (Rs 1,150), forecasting capacity-driven growth and EBITDA expansion. Import curbs, firm demand, and improving pricing dynamics support sector outlook.
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Vodafone Idea shares surged 7% intraday amid investor hopes for Supreme Court relief on Rs 9,450 crore AGR dues. The apex court will hear the plea on September 26, a crucial decision impacting funding plans, debt resolution, and operational continuity for the debt-laden telecom operator seeking clarity on dues reconciliation.
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Purple Style Labs, the parent firm of luxury fashion platform Pernia's Pop-Up Shop, has filed preliminary papers with capital markets regulator Sebi to raise Rs 660 crore through an initial public offering (IPO).
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