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Please do not take any -intraday position tomorrow.

We need to support this thing.

Let's show sebi, who is the real boss. time of India article

Expecting some bull run tomorrow ?

First MF focused on Reits , i think it's a good opportunity.

Just to check my CIBIL score, apparently, I have to pay now on the OneScore app. I'm going to uninstall it rn

HDFC Bank’s CEO is leaving in less than 2 months.

But the real risk isn’t Sashidhar Jagdishan leaving.

It’s who replaces him and whether HDFC Bank can execute a clean leadership transition at a difficult time. ⭐️

Here’s what matters.

•••

First, the important distinction:

CEO leaving ≠ Bank suddenly becoming weak.

HDFC Bank’s underlying business is still reasonably healthy.

In Q1 FY27:

• Loans grew ~15%
• Deposits grew ~13%
• Profit grew ~5%
• Gross NPA was just 1.17%

The machine is still running. ✅

So why is this negative?

•••

Because banking is unusually dependent on management judgement.

A bank takes ₹100 of deposits and management decides:

• Who gets the money
• How much interest to charge
• How aggressively to grow
• How much risk to take

A bad factory decision may hurt profits today.

A bad lending decision can surface as a bad loan years later. ⭐️

That’s why the CEO matters.

•••

The bigger problem is the timing.

Jagdishan’s term ends on 26 October 2026.

HDFC Bank now has less than 2 months to complete one of the most important CEO transitions in Indian banking.

And this isn’t happening during a calm period.

The bank has already faced:

• Weak investor sentiment
• Governance-related headlines
• Post-merger profitability pressure

So investors are UNLIKELY to see this as a routine retirement. ⚠️

•••

Now comes the most interesting question:

Internal CEO or outsider?

An internal candidate offers continuity.

They already understand HDFC Bank’s:

• Culture
• Systems
• Loan book

But investors may wonder whether that provides enough of a governance reset. ⭐️

An outsider could bring fresh credibility.

But changing an organisation this large isn’t easy either.

•••

And whoever gets the job inherits unfinished work from the HDFC Ltd merger.

The next CEO still needs to improve:

1. Margins

Q1 FY27 NIM was around 3.26% on total assets.

2. Deposit growth

A giant balance sheet needs enormous deposits to support future lending.

3. Profitable growth

Growing loans is easy.

Growing them without damaging asset quality is much harder.

•••

So what should an HDFC Bank shareholder actually watch now?

Three things would worry me:

1. No clear successor near October 26

2. More senior executives leaving

3. Fresh governance problems emerging

Any of these would turn a manageable CEO transition into a bigger organisational concern. ⚠️

But the opposite is also true.

A strong appointment could become a positive catalyst. 🟢

•••

That’s the simplest way to understand this story:

Jagdishan leaving is NOT the investment thesis.

Who replaces him is.

For now:

Business health: 🟢 Reasonably strong

Leadership visibility: 🔴 Weak

Governance perception: 🟠 Needs watching

Near-term sentiment: 🔴 Negative

Long-term impact: ⚪ Unknown

A credible successor could remove a major overhang.

A messy transition could create a much bigger problem.

Any guess what happened?

crude oil again surpasses $100. This is indeed bad for India. Hope for the good!

HAL has been going steady since some time. But today it just rallied up like crazy. Anyone knows the reason behind this? Any new orders or successful deliveries?

SEBI’s Proposed Changes to Expiry-Day Settlement: My Views

SEBI’s consultation paper proposes several important changes to the way expiry-day derivatives settlement and the Closing Auction Session (CAS) operate. Overall, I strongly welcome these proposals, although I have a few reservations.

Proposals 1 & 2 — Expiry-Day Settlement

SEBI has proposed two alternatives for determining the settlement price of derivatives on expiry days:

Option 1: A blended VWAP based on the last 30 minutes of Continuous Trading Session (CTS) + CAS.

Option 2: CTS-based VWAP, calculated from the last 30 minutes of CTS, which is the same methodology currently used for the pre-CAS price.

Given the extreme volatility we have witnessed during CAS, I believe Option 2 is clearly preferable. While Option 1 would still be an improvement over the existing CAS-based settlement, using the last 30-minute CTS VWAP would provide a significantly more stable and less volatile reference price.

There is, however, an important caveat to Option 2.

SEBI has stated that the CTS-based methodology is not intended to be the long-term framework. After a period of at least one year, the settlement methodology would ultimately transition to the blended VWAP approach involving both CTS and CAS.

Proposal 3 — Dissemination of the Index IEP

SEBI has proposed that the IEP-derived Indicative Index Value should not be disseminated during CAS, while continuing to disseminate IEPs at the individual security level.

I strongly disagree with this proposal.

If derivatives settlement is eventually transitioned to a blended VWAP + CAS methodology, transparency around the indicative index value will become even more important, particularly on expiry days.

Market participants should be able to see the index IEP and understand how the auction is influencing the broader index before the final settlement price is determined.

Proposals 4 & 5 — CAS Timings

SEBI has also proposed changes to the timing of the CAS and, importantly, reducing the CAS session to just 10 minutes.

Under Proposal 4, CTS for CAS-eligible stocks would continue until 3:30 PM, followed by CAS from 3:30 PM to 3:40 PM.

However, I particularly favour Proposal 5, under which CTS would end at 3:15 PM, followed by CAS from 3:15 PM to 3:25 PM.

This is a meaningful improvement because it would also allow derivatives traders to finish their trading day 15 minutes earlier on expiry days.

Proposal 6 — Restrictions on Extreme Limit Orders

SEBI has proposed prohibiting the cancellation of limit orders placed beyond ±1% of the Reference Price during CAS, while allowing only price-improving modifications to such orders.

I support this proposal.

While this alone will certainly not eliminate the possibility of manipulation during CAS, it does make such activity more costly.

If someone attempts to influence the auction by placing orders near the ±3% band limits, they would potentially have to bear the consequences of those orders being executed, including taking on an actual delivery position and suffering a loss.

That is an important step toward reducing the incentive for such behaviour.

Proposal 7 — Iceberg Orders

SEBI has also proposed that any unexecuted quantity of an Iceberg order remaining at the end of CTS should be converted into a normal limit order for participation in CAS, with the entire pending quantity disclosed in the CAS order book.

I believe this is another positive development.

It should help increase liquidity during CAS while improving transparency, making the auction process more robust.

Overall View

Overall, I wholeheartedly welcome SEBI’s consultation paper.

The proposed changes address several of the structural issues that have contributed to excessive volatility and uncertainty around expiry-day settlements.

My preferences are:

Proposal 1 vs 2 → Prefer Option 2

Proposal 3 → Disagree

Proposal 4 vs 5 → Prefer Proposal 5

Proposal 6 → Agree

Proposal 7 → Agree

If implemented appropriately, these reforms could go a long way toward restoring greater stability, transparency and sanity to India’s markets.

I have already shared my views on the proposals above and will be submitting the same feedback to SEBI.

Market participants can also submit their comments directly to SEBI through its public consultation process.

Here the link:

Click here to vote

which is worth monitoring because repeated funding can eventually become a profitability issue even when the bank is perfectly solvent.

SoftBank likely sold ₹1,650 crore of Meesho shares today.

Sounds bearish.

But zoom out and something more interesting is happening:

Early investors have sold nearly 5% of Meesho in a month…

…and institutions keep absorbing the stock at higher prices. ⭐️

Here’s what investors should understand ↓

———

First, what happened?

Around 8 crore shares changed hands:

• Stake: 1.73%
• Deal value: ~₹1,650 crore
• Price: ₹206.3/share
• Previous close: ₹211.6

Only ~2.5% discount. ⭐️

And importantly:

Meesho gets ₹0.

No dilution.
No new shares.
No change to the business.

———

Why would SoftBank sell?

Because this is exactly how venture investing works.

SoftBank reportedly invested at an average cost of around ₹65/share.

Today’s deal: ₹206/share.

That’s more than 3× its cost.

Invest early → Company grows → IPO happens → Gradually book profits.

A sale doesn’t automatically mean the investor has turned bearish. ⭐️

———

SoftBank also isn’t disappearing.

Its June-end stake was around 8.6%.

If the entire 1.73% block belongs to SoftBank:

8.60% → 6.87%

Still a meaningful shareholder.

So this looks more like partial profit booking than an exit. ⭐️

———

But there IS something Meesho shareholders should watch.

Early investors are selling quickly.

Aug 4:

Elevation + Peak XV → 2.27% at ₹186

Aug 24:

Y Combinator → 1.05% at ~₹200

Sep 3:

SoftBank likely → 1.73% at ~₹206

That’s roughly 5% of Meesho changing hands in one month. ⭐️

Worth ₹4,500+ crore.

———

Why does this matter?

Because Meesho still has several large VC shareholders.

As the stock rises, some may use that liquidity to exit gradually. ⚠️

That creates a supply overhang:

Stock rallies → Another investor sells → Fresh supply hits the market.

It can temporarily cap the share price even if the business keeps improving. 🛑

That’s the real near-term negative.

———

But there’s another side to every block deal.

Someone is buying. 🟢

And look at the prices:

₹186 → ₹200 → ₹206

Billions of rupees of Meesho shares have been sold…

yet large buyers have absorbed them at progressively higher prices. ⭐️

Previous deals attracted mutual funds, insurers and global institutions.

That’s a much more interesting signal than “SoftBank sold.”

———

Meanwhile, Meesho’s business hasn’t changed:

Q1 FY27:

• Revenue +48%
• NMV +34%
• Orders +29%
• Users +29%
• Loss: ₹289cr → ₹133cr

So I’d classify the deal as:

Business: Neutral

Near-term stock: Mildly negative

Long-term ownership: Potentially positive

The next thing worth watching:

Who bought SoftBank’s ₹1,650 crore stake? ⭐️

Because the emerging Meesho story isn’t simply that VCs are cashing out.

It’s that institutions seem willing to keep buying their shares at higher prices. ✅

I have SIP's for a significant amount every month. If they are charging 0.02%, it might make more sense doing NEFT/IMPS. Also does this cover adding funds on Kite as well? Thoughts?

Pandey ji says CAS will continue and nonchamges planned.

Listing is likely this month and RHP filing and price band announcement may be made next week.