Indian equity benchmarks were trading higher on Tuesday, September 1, with the BSE Sensex hovering around 77,211 and the Nifty 50 near 24,124 by midday. Tribhovandas Bhimji Zaveri surged after agreeing to a stake sale to GRT Jewellers, while ITC gained after announcing the merger of ITC Infotech with Happiest Minds Technologies. Milky Mist Dairy Food also moved sharply higher following strong quarterly earnings, whereas aviation stocks came under pressure after a 5.46% increase in ATF prices.
ITC and Happiest Minds Technologies
ITC share price gained 4.69%, while Happiest Minds share price fell 12.2% after ITC Infotech announced plans to acquire 22% stake in Happiest Minds and merge the two businesses. ITC Infotech will acquire the stake in two tranches at Rs 390 and Rs 400 per share, after which Happiest Minds will be amalgamated with ITC Infotech, with the combined business targeting $1 billion revenue by FY28. The deal will make ITC the promoter with a 73.4% stake in the combined entity, while Happiest Minds’ existing promoters will hold 7.6% as public shareholders; concerns around the long approval process and future leadership structure weighed on Happiest Minds.
Maruti
Maruti Suzuki India share price fell 3.44% by midday on Tuesday, September 1. However the August monthly sales came in higher and the company announced plans to spend Rs 77,500 crore between FY27 and FY31 on additional manufacturing capacity, new vehicle launches, research and development, and upgrades to its plants and sales network.
The company has allocated Rs 14,000 crore for FY27, compared with Rs 10,000 crore spent during the previous financial year, marking a 40% increase in planned annual spending. Chairman RC Bhargava said recent GST reforms have provided fresh support to the automobile industry, while the company is reassessing its longer-term production and sales targets as demand for small cars begins to recover after a period in which buyers increasingly preferred SUVs
Bajaj Auto.
Bajaj Auto share price gained 2.80% during Tuesday’s trading session after the company reported a 28% year-on-year increase in total sales for August 2026. The two- and three-wheeler manufacturer saw strong support from exports, which continued to provide an important contribution to overall sales during the month. The monthly sales figures came as the company continued to see positive movement in its shares, with the August performance providing fresh support to the stock during Tuesday’s session.
InterGlobe Aviation and SpiceJet
InterGlobe Aviation Ltd. share price and SpiceJet share price declined as domestic ATF prices increased 5.46% to Rs 121.28 per litre from September 1, following another Rs 5 per litre increase in August. The two increases have raised fuel costs for airlines at a time when Brent crude prices climbed above $91 per barrel, adding pressure to operating expenses because ATF can account for 30% to 40% of airline costs. ICRA has retained a negative outlook for Indian aviation, citing higher fuel costs, restrictions on some international airspace and rupee weakness.
Tribhovandas Bhimji Zaveri
Tribhovandas Bhimji Zaveri share price jumped 20% and was locked in the upper circuit after the company announced that GRT Jewellers India will acquire a 74.12% promoter stake for up to Rs 1,033.71 crore. The transaction remains subject to regulatory approvals and customary closing conditions, while GRT will also make an open offer for another 26% stake under SEBI rules. The deal gives GRT access to TBZ’s 37-store network and its 162-year-old jewellery brand, with pending buy orders reported on the NSE and no sellers visible on the exchange.
Milky Mist
Milky Mist Dairy Food share price surged 10% and hit its upper circuit after the dairy products company reported a nearly ten-fold increase in Q1 FY27 net profit. Profit after tax rose 889.9%, supported by 43.6% revenue growth and a 264 basis point improvement in EBITDA margin. The strong April-June performance, driven by core sales and healthy margins during the summer season, triggered heavy buying, with trading volumes also rising sharply during Tuesday’s session.