Antique Stock Broking has upgraded its rating on shares of RITES to 'buy' with a target price of Rs 621, indicating an 18% upside from the current level. The ratings upgrade is based on stabilization of export backlogs, business commitments and annuity-style revenue from the growing consultancy division. This unique company offers rolling stock along with transport , consultancy and engineering.

Tata Steel shares rose 3% in morning trade on Sep. 14 due to the company making progress in negotiations with the UK government to secure ~£500 million in funding. Port Talbot facility in South Wales requires capital for it's future and Whitehall officials are discussing a financial aid package of ~£500 million.

Indian benchmark indices opened at fresh record highs and continued to gain extending their opening gains. Upbeat cues combined with investors unwilling to react to slightly higher-than-expected US consumer price index for August helped lift sentiment. Technical landscape remained bullish with the Nifty aiming aggressively at the 20500 mark, while FII selling and expensive valuations could limit.

Samhi Hotels Initial Public Offering (IPO) opens for subscription on September 14, aiming to raise Rs 1370.1 crore via a fresh issue and offer-for-sale of 1.35 crore equity shares. The company has also raised Rs 616.54 crore ahead of the IPO through anchor investors. The IPO will close on September 18 with price band fixed at Rs 119–Rs 126/share.

SoftBank Group CEO Masayoshi Son accepted his bankers' recommendation to value chip designer Arm Holdings at $54.5 billion in its initial public offering. He took a conservative approach on valuing Arm, leaving an additional $1 per share, or $1b in value, on the table which could lead to a "bigger pop" when the stock debuts on Thursday.

NBCC (India) rallied 13% to hit a 52-week high of Rs 63.6 on Thursday, after signing an MoU with MoS, RINL, & NLMC for monetization of non-core assets and receiving orders worth Rs 180 crore. The firm has surged 50% YTD and 80% in the last year. However, analysts have a 'Sell' rating on the stock with average target price of Rs 41, offering 35% downside.

Bank of Maharashtra and five other companies are planning to raise up to Rs 5,241 crore on September 14 by issuing bonds with various 'AAA', 'AA+' and 'B' ratings. The amount planned by the India Infrastructure Finance Co and M&M Financial Services is highest, each with a call option after 5 years. Bank of India recently raised Rs 2,000 crore at 7.88%.

Concor is seeing a potential 15% increase in share prices due to the completion of the Dadri-Rewari stretch of DFC, as well as increased efficiency by switching from road to rail transport. This shift has enabled Concor to regain market share at competitive prices and better transit times, and presents an opportunity for stock upside according to Jefferies.

The rupee gained 8 paise to 82.93 against the US dollar following positive domestic equities. Support from oil prices and a firm US dollar countered gains and led to range-bound trading. The dollar index declined 0.13%, Brent crude prices advanced 0.37%, and FIIs sold off Rs 1,631.63 crore worth of shares on Wednesday. Although market awaits US retail sales, the rupee should still be range bound.

Today marks the end of Nifty's weekly series, ending with a 3.66% inc in price and 8.12% in Open Interest. Bank Nifty saw short covering, increasing by 3.87% & decreasing OI by 16%. The implied volatility in both is higher than the last expiry, with Rajesh Palviya, Senior Vice President, Technical & Derivatives Research at Axis Securities suggesting 'Bull Call Spread' strategies for both indices.

Larsen & Toubro (L&T), an Indian multinational conglomerate, is offering its first share buyback to shareholders since its listing. Buyback offers investors a way to receive tax-efficient cash payouts. The company has set the buyback period between September 18 and 25, during which it will purchase 3.12 crore shares at Rs 3,200 per equity share, out of its current surplus or cash balances.

Midcap and smallcap stocks have seen stellar returns in the last 6 months, with midcap funds garnering Rs 14,444 crore and smallcap funds Rs 26,305 crore. ETMarkets analyzed 5 popular stocks held by at least 5 smallcap schemes which gave multibagger returns. Cholamandalam Financial (102%), BEML (107%), Suzlon (204%), Kaynes Technology (129% ) & Ujjivan Financial Services (105%).

On Wednesday, Indian benchmark stocks rose to record highs due to gains in bank shares and a rebound in small-cap and micro-cap stocks. Large-caps appear preferable for risk-averse investors while market participants warn that more downside may be in store for smaller players in the markets. Analysts recommend watching US data releases in order to take appropriate measures.

Canara Bank, part of the PSU banking sector, has been successfully making higher highs and higher lows for the past 3 months. It recently hit a 52 week high of Rs 364 on 13 September 2023, up 7% in a week and 9% month over month. The stock is currently trading above crucial short- and long-term moving averages, with the weekly RSI continually holding above support at 40.

SoftBank & CPPIB are evaluating an investment in Eruditus's secondary funding round, which will involve existing investors selling out instead of capital flowing directly into the company. The secondary round may come at a 20% discount to Eruditus's previous valuation. There is potential for new investors to join, with some US-based individuals looking to exit due to LP commitments.