  The ATLAS and CMS experiments at LHC observe small excesses of diphoton
events with invariant mass around 750 GeV. Here we study the possibility of
nearly parity degenerate and vector-scalar degenerate spectra as well as
composite dynamics in 2 scenarios for explaining the excess: Production of a
pseudo-scalar via gluon or photon fusion or via decay of a parent particle
together with soft additional final states. We discuss possible underlying
realizations of the scenarios motivated by dynamical models of electroweak
symmetry breaking (without new coloured states) and fermion masses.
