September 3, 2026
Indian equities enter Thursday’s session after another weak close, with the Nifty 50 falling 0.59% to 23,914.45 and the Sensex declining 0.49% to 76,570.35 on September 2. Rising crude oil prices, higher global bond yields and renewed geopolitical tensions in the Middle East remain important market factors.
For September 3, several companies are in focus following developments involving acquisitions, large infrastructure projects, fundraising plans, strategic transactions, management changes and new business opportunities.
Quick Summary: Stocks in Focus Today
| Stock | Why It Is in Focus |
|---|---|
| ICICI Bank | Acquired an additional 2% stake in ICICI Prudential Life for about ₹1,470 crore |
| Power Grid Corporation | Won a ₹3,244 crore interstate transmission project |
| Meesho | SoftBank is reportedly looking to sell about 1.5% stake through a block deal |
| HUDCO | Signed an agreement with Bihar for funding of up to ₹25,000 crore |
| E2E Networks | Received a ₹177 crore GPU-hours allocation order from MeitY |
| Waaree Energies | Approved acquisition of 64% stake in Kotson’s for ₹192 crore |
| Adani Power | Received approval to commence operations at Dhirauli coal mine |
| TCS | Signed a seven-year €550 million strategic agreement with Tryg |
| NHPC | Received an arbitration award involving ₹392.31 crore and €15.36 lakh |
| Hexaware Technologies | Announced a change in CEO and whole-time director |
ICICI Bank
ICICI Bank is in focus after completing the acquisition of an additional 2% stake in its subsidiary, ICICI Prudential Life Insurance. The bank purchased approximately 2.90 crore shares through multiple tranches between July 22 and September 2 for around ₹1,470 crore.
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Following the transaction, ICICI Bank’s holding in ICICI Prudential Life has increased to approximately 52.8%. The development is significant because the bank continues to strengthen its ownership in its insurance subsidiary.
Power Grid Corporation
Power Grid Corporation of India is in focus after being declared the successful bidder for an interstate transmission project connected with Rajasthan Renewable Energy Zone Phase IV.
The project involves a 6,000 MW ±800 kV HVDC transmission system between Barmer-II in Rajasthan and South Kalamb in Maharashtra. The quoted annual transmission charges are ₹3,244.33 crore, and the company received the Letter of Intent on September 2.
Meesho
Meesho is likely to remain in focus amid reports of a potential block deal involving SoftBank. The transaction could involve approximately 7 crore shares, representing around 1.5% of the company’s equity.
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The reported deal size is around ₹1,435 crore, with a floor price of ₹205 per share. The potential transaction makes Meesho one of the notable stocks to watch for September 3 because of the size of the proposed share sale.
HUDCO
HUDCO is in focus after entering into an agreement with the Bihar government for funding of up to ₹25,000 crore over five years.
The proposed financing is intended for industrial infrastructure projects, including land acquisition and development of industrial parks. The agreement adds another large infrastructure-financing opportunity to HUDCO’s business pipeline.
E2E Networks
E2E Networks has received a letter from the Ministry of Electronics and Information Technology regarding the allocation of H200 SXM and H100 SXM GPU capacity to GNANI AI.
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The allocation covers nearly 1.30 crore GPU hours for 360 days and is valued at approximately ₹177 crore. The GPUs are intended for development of India’s foundational AI model, making the announcement relevant to the growing domestic AI infrastructure and cloud-computing ecosystem.
Waaree Energies
Waaree Energies is in focus after its board approved the acquisition of a 64% stake in Kotson’s for ₹192 crore. Kotson’s manufactures transformer solutions and will become a subsidiary following completion of the transaction.
The company has also approved the acquisition of 100% of Impactgrid Renewables from its wholly owned subsidiary Waaree Forever Energies.
Adani Power
Adani Power has received approval from the Ministry of Coal to commence operations at the Dhirauli coal mine in Singrauli, Madhya Pradesh.
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According to the geological assessment cited in the company update, the block has gross geological reserves of around 620 million tonnes and net geological reserves of approximately 558 million tonnes. The development brings the mine into focus as the company expands its fuel-security infrastructure.
TCS
Tata Consultancy Services has expanded its strategic partnership with Scandinavian insurance company Tryg under a seven-year agreement valued at €550 million.
The engagement covers operations across Denmark, Sweden and Norway and includes technology transformation, process simplification and standardisation. The announcement places TCS among the major IT stocks in focus today amid continued attention on large international technology contracts.
NHPC
NHPC is in focus following an arbitral award related to the Subansiri Lower Hydroelectric Project.
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The arbitration proceedings resulted in an award of approximately ₹392.31 crore and €15.36 lakh. The company has indicated that the awarded amount is allowable as project cost and recoverable through tariff under applicable CERC regulations.
Hexaware Technologies
Hexaware Technologies has announced a change in senior management. CEO and Whole-Time Director Srikrishna Ramakarthikeyan is set to step down from those positions effective October 28, 2026.
Vivek Jetley will take over as CEO, while Ramakarthikeyan will continue with the company in a senior advisory role. The leadership transition puts Hexaware in focus ahead of the management change.
Market Overview
The broader market backdrop remains cautious. The Nifty 50 closed at 23,914.45 on September 2, down 141.35 points, while the Sensex ended at 76,570.35. Brent crude remained elevated amid renewed geopolitical tensions, adding pressure through inflation and import-cost concerns.
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The Nifty’s 23,800 zone is being closely watched after Wednesday’s decline, while the 24,000–24,200 area remains an important reference zone if the index attempts a recovery.
Institutional flows have provided some support despite the volatile environment. On September 1, FIIs were net buyers of approximately ₹1,143 crore, while DIIs bought around ₹1,847 crore.
Overall, ICICI Bank, Power Grid, Meesho, HUDCO, E2E Networks, Waaree Energies, Adani Power, TCS, NHPC and Hexaware Technologies are among the key stocks to watch on September 3 based on their latest corporate developments.
Disclaimer: This article is for informational and educational purposes only. It does not constitute investment advice or a buy or sell recommendation. Investors should conduct their own research before making financial decisions.
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