Indian equity benchmarks closed lower on Wednesday, September 2, 2026, influenced by escalating global conflicts in West Asia, which drove crude oil prices higher and fueled expectations of rate hikes. The BSE Sensex fell 373.93 points, or 0.49%, to settle at 76,570.35, while the NSE Nifty50 dropped 141.35 points, or 0.59%, to finish at 23,914.45. Several companies are anticipated to be in the spotlight ahead of Thursday's opening bell due to significant corporate developments.
Key Market Movers Today
Lumino Industries
EPC solutions provider Lumino Industries is set to debut on the stock market on Thursday, September 3, 2026. The company successfully raised Rs 700 crore through its initial public offering (IPO), which was offered at a price band of Rs 78-82 per share between August 27 and August 31. The IPO saw an impressive overall subscription of 104.69 times, attracting over 58.35 lakh applications.
Meesho
SoftBank Vision Fund entity SVF II Meerkat (DE) LLC is expected to offload 7 crore equity shares, representing 1.5% of the e-commerce platform Meesho's paid-up equity, via a block deal. The floor price for this transaction has been set at Rs 205 per share, valuing the deal at approximately Rs 1,435 crore. As of June 2026, SoftBank held an 8.6% stake in Meesho.
Power Grid Corporation of India
The state-run utility company has received a Letter of Intent (LoI) for an inter-state transmission system project. This project is for evacuating power from Rajasthan REZ Phase-IV and will operate on a build, own, operate, and transfer (BOOT) basis. The quoted annual transmission charges for Power Grid are Rs 3,244.33 crore.
Hexaware Technologies
IT solutions firm Hexaware Technologies has announced the appointment of Vivek Jetley as its CEO-designate. He is slated to join the company and assume the CEO role on October 28, 2026. Srikrishna Ramakarthikeyan will step down as CEO and board member on the same date but will continue as a senior adviser to ensure a smooth leadership transition.
ICICI Prudential Life Insurance Company
ICICI Bank has completed the acquisition of 2.9 crore equity shares, or approximately 2% of ICICI Prudential Life Insurance's equity share capital, for around Rs 1,470 crore. These purchases were executed in multiple tranches between July 22 and September 2, 2026. ICICI Bank's total shareholding in ICICI Prudential Life now stands at 52.8%.
Housing & Urban Development Corporation (HUDCO)
State-run housing finance entity HUDCO has signed a Memorandum of Understanding (MoU) with the Government of Bihar. This agreement aims to provide financial assistance of up to Rs 25,000 crore over five years for the development of industrial infrastructure, including land acquisition for various projects.
RBL Bank
Private sector lender RBL Bank mobilized approximately $3.40 billion (Rs 32,472 crore) through the Reserve Bank of India’s special swap facility for FCNR(B) deposits. This mobilization occurred up to August 31, 2026, as disclosed in an exchange filing on Wednesday.
Ola Electric Mobility
The board of the electric vehicle (EV) manufacturer Ola Electric Mobility is scheduled to convene on Saturday, September 5, 2026. The agenda includes considering and approving a proposal to raise funds through the issuance of equity shares or other eligible securities via permissible modes, such as private placement, qualified institutions placement, preferential issue, or a combination thereof.
Page Industries
Leisurewear and apparel company Page Industries has received a notice from the Dubai Court concerning a claim initiated by Yellow Flower Trading LLC (YFT), Dubai. The claim arises from disputes related to the parties' distribution arrangement in the UAE, with the stated amount being AED 113.5 million, plus 9% annual interest from October 10, 2025.
Persistent Systems
The board of IT solutions provider Persistent Systems has approved plans to raise up to $1.25 billion (Rs 11,809 crore) through a combination of debt and equity-linked instruments. This opens the possibility of a fundraise that could include equity dilution.
NMDC
State-run metal producer NMDC has received concurrence from the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, for the incorporation of a wholly-owned subsidiary (WOS) in GIFT City, Gandhinagar, Gujarat. This approval was conveyed by the Ministry of Steel, NMDC's administrative authority.
Heidelberg Cement
Heidelberg Cement has set Friday, September 11, 2026, as the record date for its dividend payout. Shareholders will receive a dividend of Rs 7 per equity share of Rs 10 each (70%) for the financial year 2025-26. If declared at the Annual General Meeting (AGM) on September 17, the dividend will be paid within 30 days of the AGM date.