🟥 Vedanta disclosed that the Enforcement Directorate searched its premises from June 1 to 3 under FEMA, reportedly over royalty payments to parent Vedanta Resources. The company says no penalty or business impact followed. This search has happened just weeks before its demerger. Strange.

🟩 Titan set an FY30 target to double its jewellery revenue versus FY26 at a 20% CAGR and reach 1,400 stores from 800. The 20% pace sits well below the 46% jewellery growth Titan posted in Q4 FY26, signalling planned normalisation after gold-price-driven gains.

🟩 Maruti Suzuki launched India’s first flex-fuel car, capable of running on up to 100% ethanol, at a Delhi event with Union Minister Mr. Gadkari and Mr. Puri. Maruti becomes the first automaker to launch a flex-fuel model. The government will roll out 100 ethanol fuel stations across Delhi-NCR and Maharashtra, targeting 500 by end-2026 and 5,000 by 2027, said Mr. Puri.

🟩 Hyundai Motor India will roll out its first dedicated mass-market EV, a compact eSUV, from its Chennai plant this year. Hyundai will build the model in Tamil Nadu for export worldwide, anchoring its $5 billion India investment plan.

🟩 Aurobindo Pharma received final US FDA approval for Tofacitinib tablets in 5 mg and 10 mg strengths, the generic of Pfizer’s Xeljanz. Tofacitinib treats rheumatoid arthritis, psoriatic arthritis and ulcerative colitis, adding to Aurobindo’s 550-plus final US approvals that anchor its largest revenue market.

🟩 Dixon Technologies said its joint venture with China’s Vivo for smartphone manufacturing is under active consideration for government approval. Approval would hand Dixon scale in branded smartphone assembly. China-linked electronics tie-ups still face prolonged security and FDI clearance in India though.

🟩 HDFC Mutual Fund will temporarily restrict lumpsum subscriptions into its Gold ETF and Gold Fund of Fund. Fund houses cap gold ETF inflows when demand outpaces the physical gold they can source.

🟩 The Defence Ministry is evaluating incentives for sourcing indigenous military-grade materials under the draft Defence Acquisition Procedure 2026, a tailwind for Mishra Dhatu Nigam. Mishra Dhatu Nigam is India’s main producer of superalloys and special steels for defence and space, so sourcing mandates would lift its captive demand.

🟩 India’s power consumption rose 11.55% year-on-year to 164.98 billion units in May 2026, from 147.89 billion units in May 2025. An intense heatwave drove the jump as peak demand hit a record 270.82 GW, more than the year-ago 230.99 GW.

🟩 The Union Cabinet approved scrapping capital gains tax on foreign portfolio investors’ holdings of government securities, to be enacted through an ordinance. The move targets the bond market only.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 Titagarh Rail Systems guided its Passenger Rail Systems segment to a minimum of 200 cars in FY27. FY26 delivered 63 passenger rail cars. The 200-car target represents over 3x year-on-year growth in a single year. Vande Bharat Sleeper deliveries, a BHEL JV for Vande Bharat Sleeper manufacturing, and the first aluminium metro coaches made entirely in India are the FY27 milestones.

🟩 IEX recorded a total electricity trade volume of 12,983 MU in May 2026, up 18.6% year-on-year. Day-Ahead Market volume rose 25% year-on-year in May. Average market clearing price stood at Rs.4.88 per unit. April 2026 volume was 12,341 MU, also up 16.6% year-on-year. Each successive month has accelerated versus the prior.

🟩 JBM Auto claims 49% electric bus market share in May 2026 with 157 e-bus registrations for the month. FY26 full-year market share was 24% with 1,282 registrations.

🟩 Bajel Projects was awarded an EHV substation EPC order worth Rs.300-400 crore from a domestic client

🟩 Shilpa Medicare acquired a 30.4% equity stake in Gate2Brain, a Swiss clinical-stage biotech developing brain cancer therapies.

🟥 Zydus Lifesciences received a USFDA warning letter for its Baddi formulation manufacturing facility in Himachal Pradesh. The letter cites purified talc used at Baddi that did not meet current USP requirements.

🟥 SEBI restrained Rajesh Mehta, Executive Chairman of Rajesh Exports, from buying, selling, or dealing in securities of Rajesh Exports. Rajesh Exports is India's largest gold processing, manufacturing, and export company by revenue, with significant domestic retail brand presence.

🟩 India's HSBC Composite PMI for May 2026 rose to 59.3, up from 58.1 in April 2026. Services PMI reached 59.8, the stronger of the two sub-indices, rising from 58.9 in April. Consecutive monthly readings above 58 confirm expansion in domestic services output and new business formation.

🟩 The Union Cabinet approved a Rs.10,000 crore ATF Price Stabilisation Fund. The fund is structured as interest-free advances to oil marketing companies (IOCL, BPCL, HPCL).

🟥 India tightened silver import regulations, mandating DGFT prior authorization for all 99.9% purity silver forms including grains and powder. India spent USD 12 billion on silver imports in FY26, up 150% year-on-year from USD 4.8 billion in FY25. Import tariffs on gold and silver were also raised to 15% from 6% earlier this year. Collectively designed to reduce bullion-driven pressure on India's foreign exchange reserves.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Adani Ports handled 48.3 MMT of total cargo in May 2026, up 16% year-on-year over May 2025. Container volumes grew 17% YoY and liquid cargo surged 33% YoY, reflecting broad demand across trade categories. Rail logistics volumes fell 19% YoY to 48,170 TEUs, the 2nd consecutive monthly decline in that segment. Rail freight carries better per-unit margins than port handling. Sustained weakness there is the watch item for FY27 blended EBITDA.

🟢 Infosys expanded its strategic collaboration with DNB Bank (Norway) to modernize financial crime operations, covering fraud detection and anti-money laundering systems. On the same day the company unveiled an AI-powered editorial engine built with Handelsblatt Media Group in Germany. Both wins deepen Infosys’s AI services engagement with European financial services and media clients.

🟢 Tega Industries completed the acquisition of Molycop on June 1, 2026, at an enterprise value of approximately USD 1.5 billion. Tega holds 84.2% of the combined entity through its Singapore HoldCo. Post-acquisition, Tega becomes one of the world's largest grinding media suppliers for mining, serving 400+ mines across 40 countries.

🟢 Hero MotoCorp dispatched 570,068 units in May 2026, up 12.28% year-on-year over 507,701 units in May 2025. Scooter volumes more than doubled to 66,305 units, up 103.78% YoY, with scooter share rising to 11.63% of total sales. Exports surged 77.95% YoY to 33,284 units.

🟢 Transrail Lighting secured fresh orders worth ₹575 crore in T&D, civil construction, and pole businesses as of June 2, 2026. The wins include a 500 kV HVDC transmission line project for an undisclosed marquee customer. Total unexecuted order book stands at ₹16,361 crore as of March 31, 2026, up 12% year-on-year.

🟢 Alkem Laboratories launched a single-shot semaglutide pre-filled syringe at ₹350, the first such format commercially available in India. Over 50 generic semaglutide brands entered the market after Novo Nordisk’s Indian patent expired on March 21, 2026.

🟢 Delhivery incorporated a wholly owned subsidiary named Delhivery Fintech Distribution to expand its fintech operations. The subsidiary signals intent to develop embedded finance products for the SME merchants and sellers already within Delhivery's logistics network. Probable product areas include working capital financing, payment logistics, and insurance distribution. Logistics companies entering embedded fintech is a proven playbook in Southeast Asia. Execution risk in India is still high given existing NBFC and fintech competition.

🟢 India’s seafood exports touched a fresh all-time peak of USD 8.46 billion in FY26. India is the world’s third-largest seafood exporter. Strong demand from Southeast Asia and the US has driven the sustained run-up.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 Zee Entertainment Enterprises secured Indian broadcast and streaming rights to 39 FIFA events spanning 2026-2034, including the FIFA World Cup 2026/2030, and the FIFA Women’s World Cup 2027. Coverage begins June 11 across 4 newly launched Unite8 Sports channels in Hindi and English, plus ZEE5 streaming. FIFA had initially sought $100 million for India rights, later reduced to approximately $60 million. JioStar offered only $20 million.

🔴 India’s domestic air traffic fell 3.47% year-on-year in April 2026 to 1.38 crore passengers from 1.43 crore in April 2025, per latest DGCA data. IndiGo’s market share rose to 65% in April from 63.3% in March; Air India Group fell to 24.7% from 26.2%. International passenger volumes dropped 39.3% and international flights fell 37.2% year-on-year in April; weaker international traffic also reduces domestic connection demand. IndiGo is gaining share in a contracting market. Indicates structural cost advantages.

🟩 Marksans Pharma entered a definitive agreement to acquire 100% of QliniQ B.V. (Netherlands) for €7.5 million, pending completion conditions. QliniQ reported €9.35 million revenue and €1.01 million net profit for FY ended December 2025. It carries zero debt and posted a 41% revenue CAGR over FY2023-FY2025.

🟩 ASUS is scaling local laptop manufacturing with Dixon Technologies’ subsidiary Padget Electronics, targeting approximately 30% of India laptop sales from domestically produced units in FY2026-27 versus ~10% last year. The MOU between Padget Electronics and ASUS was already signed in September 2024. Dixon’s Tamil Nadu facility is now operational for HP, ASUS, and Lenovo. The acquisition gives Marksans front-end sales, marketing, distribution, EU GDP-licensed wholesale infrastructure, and direct access to insurer-led pharmaceutical tender channels in the Netherlands.

🟩 Kalpataru Projects International secured fresh orders worth approximately ₹2,002 Cr across three business segments. T&D wins cover the Middle East and the Nordics. Buildings & Factories secured repeat client orders. Railways reinforced its metro rail presence in India.

🟩 Godrej Properties acquired a 23.2-acre residential land parcel in the DMIC Integrated Industrial Township, Greater Noida, via e-auction conducted by DMIC Integrated Industrial Township Greater Noida Ltd. Revenue potential exceeds ₹7,000 Cr; the DMIC township hosts 750 acres of plug-and-play infrastructure in one of NCR’s fastest-growing corridors.

🟩 India’s ALMM List-II mandate came into force June 1, requiring all new RE projects to source solar PV modules using only locally manufactured cells approved under the ALMM framework. Websol Energy, Premier Energies, and Waaree Energies are among the key ALMM List-II cell manufacturers.

🟩 India's gross GST collections rose 3.2% year-on-year in May 2026 to ₹1,94,184 Cr from ₹1,88,172 Cr in May 2025.

🟩 India’s Index of Industrial Production for April 2026 rose 4.9% year-on-year under the new 2022-23 base year series. Manufacturing, comprising over 75% of IIP, grew 6.2%; electrical equipment rose 19.2%, motor vehicles 12.7%, capital goods 16%; infrastructure and construction goods grew over 9%. 17 of 23 manufacturing sub-groups recorded positive growth in April.

🟩 India’s final HSBC Manufacturing PMI for May 2026 came in at 55.0, a three-month high, ahead of the April actual reading of 54.7 and the May flash estimate of 54.3. New orders grew at the fastest pace since February. Domestic demand led growth. Export order expansion slowed to a three-month low.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 Asian Paints posted decorative volume growth of 12.4% year-on-year in Q4 FY26, ahead of management's stated guidance band of 8-10%. New product launches contributed approximately 17% of overall revenues in FY26; the company filed over 160 patents during the year.

🟩 LIC's CEO and MD R Doraiswamy has confirmed the corporation is actively evaluating entry into the fintech space, either organically or through a strategic investment in a fintech or insurtech player.

🟥 IndiGo management has flagged the possibility of airfare increases as higher fuel costs and Q4 FY26 losses squeeze airline margins.

🟥 Senco Gold recorded a 6% year-on-year volume decline in gold sales during FY26, driven by a 79% surge in average gold prices. Consumers switched toward silver and diamond as price-sensitive substitutes. Silver volumes jumped approximately 35% year-on-year in FY26, and diamond volumes grew approximately 9% year-on-year.

🟩 NSE will extend equity derivatives trading hours by 10 minutes, moving the normal market close from 3:30 PM to 3:40 PM with effect from August 3, 2026. The extension aligns F&O trading with the newly introduced Closing Auction Session in the equity cash segment, which will run from 3:15 PM to 3:35 PM.

🟩 The Union Finance Ministry has approved the ₹70,000 crore Project-75I submarine programme, clearing it to its final stage before contract signing. The project involves constructing 6 advanced conventional diesel-electric submarines for the Indian Navy under the Strategic Partnership Model. Mazagon Dock Shipbuilders will build the submarines at its Mumbai facility with Germany’s thyssenkrupp Marine Systems.

🟩 India has revised export levies on petrol, diesel, and aviation turbine fuel for the fortnight beginning June 1, 2026, cutting all three rates materially. Petrol export duty falls to ₹1.5/litre from ₹3/litre, diesel export duty falls to ₹13.5/litre from ₹16.5/litre, and ATF export duty falls to ₹9.5/litre from ₹16/litre.

🟥 West Asia conflict has disrupted India’s basmati rice export trade. Basmati exports account for a material share of India’s total rice shipments particularly to Iran, Saudi Arabia, and the UAE.

🟥 India’s foreign exchange reserves fell $7.5 billion to $681.38 billion for the week ended May 22, 2026, extending a sharp drawdown from the all-time high of $728.5 billion. The RBI has been selling dollars to slow the rupee’s depreciation.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 Tata Motors EV bookings jumped 25-30% since the West Asia crisis began in March 2026.

4 retail fuel hikes in 10 days seems to have accelerated the consumer shift to EVs.

Monthly output of Tata Motors is ~10,000 EVs; company plans to scale to 15,000 in 3-4 months.

Tata Motors Market share slipped to ~40% in FY26. It was around 55% in FY25.

🟩 HPCL, BPCL, and IOC have seen daily losses ease after 3 staggered fuel hikes since May 15.

Before the hikes, combined under-recovery was running at ~₹1,000 crore/day.

First hike of ₹3/litre alone cut losses to ₹750 crore/day, a 25% reduction from the pre-hike level.

Cumulative hikes are ~₹4.8/litre on petrol and diesel. Losses still persist. Around ₹600.day.

🟩 India’s power transmission sector gets ₹9 trillion in government-committed capex through 2032.

Power Grid Corp alone is deploying ₹1.08 lakh crore in FY26-28.

India’s HVDC market is projected to double to $31B by 2035.

Beneficiaries: KEC International, CG Power, ABB India, BHEL, Siemens Energy.

🟥 India’s TV ad market share has fallen to 27% in FY26. Digital now commands 44%.

Zee Entertainment’s net profit fell 25% in the first nine months of FY26 versus the same period in FY25.

About 50 channel licenses have been surrendered over the past three years.

DTH subscriber base is declining.

🟩 VinFast’s Green SM has launched 1,000 electric cabs in Delhi-NCR.

Fleet target is 15,000 vehicles across Indian metros by December 2026.

Fares start at ₹8/km; driver partners are offered ₹40,000/month.

It enters the market filling the gap left by BluSmart’s suspension earlier this year.

🟥 India’s summer beverage season is being crimped by an aluminium can crunch.

Iran’s Hormuz blockade and BIS import certification norms tightened supply simultaneously from early 2026.

Beer makers face a shortfall of 120-130 million 500ml cans this season versus last year’s supply levels.

Domestic manufacturing capacity is running 20% below current market demand.

Hindalco emerges as the structural beneficiary as beverage companies are forced to prioritise domestic sourcing.

🟥 VFS Global is under scrutiny after EU inspection reports flagged data lapses, fake slots, and visa shopping.

Issues were documented across assessments by 11 EU member states between 2020 and 2025.

A 20-member EU delegation visited India specifically to address these shortcomings.

Over 1 million Indians now apply for Schengen visas annually through VFS, more than double the pre-pandemic level.

Stricter EU oversight of external service providers could structurally challenge VFS’s near-monopoly on Indian Schengen processing.

🟩 India’s gross FDI hit a record $94.53 billion in FY26, up 17% from $80.62 billion in FY25.

A new all-time high. Net FDI, however, was just $7.65 billion after repatriations and outbound investment.

India’s share of global FDI inflows has roughly doubled over the past decade.

A gross-to-net gap of $87 billion signals India attracts capital efficiently but struggles to retain it. A difficult problem to solve.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 JSW Steel commenced construction of its 13.2 MTPA greenfield integrated steel plant at Paradeep, Odisha, with an estimated investment of Rs 65,000 Cr in phases. The plant is built on land where South Korean steel giant Posco failed after two decades of resistance. India’s largest private steel capex is now formally underway.

🟩 HCLTech launched an autonomous finance platform powered by Google Cloud’s Gemini Enterprise, targeting end-to-end automation of financial operations for enterprises. Positions HCLTech in the agentic AI race for enterprise finance workflows.

🟩 Zydus Lifesciences received FDA Priority Review for the Saroglitazar NDA in primary biliary cholangitis, the first Indian NCE to reach this milestone. Saroglitazar is the only PPAR alpha/gamma dual agonist with positive Phase 3 data in PBC.

🟩 KEC International secured Rs 1,303 Cr in new orders across T&D, Civil, Renewables, and Cables in India and the Americas. Wins include 400/220 kV substation contracts in Southern India and a 150+ MW wind project in Western India. FY26 order book stood at Rs 36,267 Cr.

🟩 Ola Electric secured regulatory approval for a new electric scooter targeting India’s commercial mobility market, expanding beyond the consumer segment. Commercial two-wheeler EV penetration in India is near-zero. Ola moves first into a segment with a vast untapped fleet of delivery, logistics, and last-mile vehicles.

🟩 Ministry of Defence issued formal RFPs to three consortia for the AMCA fifth-generation stealth fighter prototype: L&T-BEL, Tata Advanced Systems, and Bharat Forge-BEML-Data Patterns. Five prototypes at Rs 15,000 Cr. First prototype target is early 2027. First flight during 2029.

🟥 Air India and IndiGo are cutting domestic flights from June 1 for three months. Air India reducing capacity by up to 22%, IndiGo by 5-7%. ATF costs have risen from Rs 80,000 to over Rs 1 lakh per kilolitre on Iran conflict. Both airlines control 90%+ of domestic capacity. Airfares expected to rise.

🟥 IGL raised Delhi CNG prices by Rs 2/kg on Tuesday, the fourth hike in 15 days, taking rates to Rs 83.09/kg. Cumulative rise since May 15 has been Rs 6/kg. MGL has separately cut commercial subsidies in Mumbai.

🟥 Hyundai Motor will raise vehicle prices by up to Rs 12,800 per car depending on model and variant, effective June 1, 2026.

Companies with good results.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 Adani Green Energy commissions 3.37 GWh BESS at Khavda, world’s largest outside China, completed in 10 months. Plans 10+ GWh in FY27, scaling to 50 GWh over five years. India’s grid storage buildout just shifted to a different scale.

🟩 KEC International commences elastomeric cable and e-beam irradiation production in Q2 FY27. Debt levels expected to normalise further. Two specialty cable verticals launching in one quarter. Cables are the structural margin upside story for KEC in FY27.

🟩 Tata Elxsi launched VITEL, an AI-powered material intelligence solution for med-tech, built on its Viridium platform. AI for material selection and compliance cycles in medical device design. Adds product depth to Tata Elxsi’s med-tech AI positioning.

🔴 AXISCADES transfers its heavy engineering, energy, and automotive Engineering Services practice to Akkodis for $30.63 million. Deal proceeds fund the Devanahalli Atmanirbhar Complex and Missile Complex. Company pivots toward aerospace manufacturing.

🟩 MobiKwik received RBI in-principle approval for its Payment Aggregator Physical license. Targets 10x merchant business growth by FY28.

🟩 EKI Energy Services received a Category IV Inter-State Electricity Trading Licence from CERC for 25 years. Category IV permits trading of 1,000+ MW blocks. EKI moves into the large-ticket, long-tenure end of India’s power trading market.

🟩 Balu Forge Industries secured its maiden aerospace order from US-based Alpha Aircraft Systems. Advance payment received to commence production. First aerospace entry from an auto-forging base. Higher precision and margins define this segment vs their core business.

🟩 Venus Pipes commissioned 4,200 MTPA seamless tubes and 6,000 MTPA mother hollow pipes, alongside fittings manufacturing. Seamless tubes target oil, gas, and precision segments at higher ASPs.

🟩 SKM Egg Products is investing Rs 400 Cr to scale to 24 lakh layer birds, targeting 5x egg output, with feed mill and biogas additions. One of India’s few listed egg processors.

🟩 SEBI Chairman Tuhin Kanta Pandey said household savings flowing into capital markets are at an all-time high.

🟩 EV insurance in India jumped 670% as smaller cities drive policy purchases. PB Fintech is a direct beneficiary.

🔴 US credit card balances surged to $1.3 trillion at 22% average interest rates, the worst consumer stress levels since 2008. Companies with significant US revenue dependence face growing demand-side risk.

🔴 Taiwan surpassed India to rank 5th globally in market cap. Population of just 2.3 Cr. The surge driven almost entirely by AI and semiconductor stocks. Indian market has broader sector depth. Taiwan market is more concentrated.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 BEL secured ₹608 Cr in fresh orders covering radar systems, coastal surveillance, avionics, seekers, jammers, and medical electronics. BEL already has a ₹74,000 Cr orderbook. This adds to FY27 revenue visibility and spans across Army, Navy, and Air Force procurement lines.

🟥 Sun Pharma says it will not give margin guidance as the West Asia conflict is expected to increase logistics and shipping costs in coming quarters. West Asia generates meaningful revenue for Sun Pharma.

🟩 Hero MotoCorp is targeting double-digit volume growth in FY27, with e-scooters identified as the primary growth driver. India’s premium EV two-wheeler market is growing fast. Hero’s shift in emphasis signals a competitive response to Ola Electric, TVS and Bajaj Chetak gaining ground in the segment.

🟩 Kalpataru signed a cluster redevelopment project in Ashok Nagar, Kandivali East covering five societies across 2.8 acres with a GDV of ₹1,250 Cr. Kandivali East apartments averaged ₹23,312 per sq ft in Q4 FY26, up 24% YoY. Kalpataru already has six delivered projects in the same locality.

🟩 Oil India targets 100 wells in FY27, up from 74 wells in FY26, a 35% jump in drilling intensity.

🟩 SEBI is proposing flexible options strike price rules that would require exchanges to add new strikes rapidly during volatile market conditions. The move is aimed at improving trading continuity during sharp swings.

🟥 RBI has released a draft framework to overhaul rules for digital wallets (technically called Prepaid Payment Instruments or PPIs). Here is what is being proposed.

• Credit card loading banned. You will no longer be able to top up your Paytm or PhonePe wallet using a credit card.

• Cash loading cap reduces sharply. Current limit is ₹50,000 per month. Proposed limit is ₹10,000. This affects users who use wallets for remittances.

• Cross-border wallet transactions banned. International payments through wallets would not be allowed.

Mobile wallets are a core payments infrastructure layer in India. Regulatory tightening here affects companies like Paytm, PhonePe etc.

🟥 Indian IT firms collectively saw H-1B approvals fall nearly 40% YoY in FY26 to 11,041 across the top 6 companies. TCS was the biggest loser. Infosys was the only firm to see a rise.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟩 Lupin received Chinese regulatory approval for Oseltamivir Phosphate Oral Suspension, an antiviral for influenza treatment. China is a high-volume antiviral market. This adds a new geographic revenue stream to Lupin's branded generic portfolio.

🟥 Swiggy’s bid to become an Indian Owned and Controlled Company (IOCC) failed at 72.36% shareholder support, short of the 75% threshold. IOCC status eases FDI inventory restrictions for Instamart. Without it, Swiggy’s Q-commerce expansion stays constrained.

🟥 H-1B registrations for the FY2027 US visa cap dropped 38.5% to 211,600, down from 343,981, as the US shifted to a wage-weighted lottery. Low-wage sponsorships are being phased out. Mid-tier Indian IT firms with onsite-heavy delivery face rising visa costs.

🟩 LIC's Bancassurance and Alternate Channels crossed ₹5,000 crore in FY26 premium, growing 45% YoY. PAT rose 19.25% to ₹57,419 crore. Board declared a 1:1 bonus issue and ₹10/share dividend.

🟩 MTAR Technologies received international purchase orders worth ₹467 crore from an existing client. Execution splits equally across March and June 2027. Second major international order in 8 days, after ₹2,279 crore won on May 14. Stock is up 507% from its August 2025 low.

🟩 Apollo Hospitals guided Apollo HealthTech demerger and listing by Q4 FY27, targeting annualized revenue of ₹25,000 crore at listing. Shareholders receive 195.2 HealthTech shares per 100 Apollo shares.

🟩 PNC Infra received Letters of Acceptance from NHAI for two HAM highway projects in Uttar Pradesh totaling ₹3,483 crore. Both are 4-lane stretches on NH-927 with 24-month execution timelines. Order value is ~64% of the company's current market cap.

🟩 VA Wabag secured a medium-value DBO order for a Delhi wastewater treatment plant, valued in the ₹100-250 crore range. DBO contracts generate long-tenure O&M revenues beyond construction margins, improving earnings quality for project developers.

🟩 Transformers & Rectifiers India won a ₹228 crore order from GETCO for transformers and reactors, with delivery by August 2028. GETCO is Gujarat's state transmission utility. Renewable integration is driving steady transformer demand from state utilities.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟥 Maruti Suzuki hikes prices up to ₹30,000 from June 2026. Second increase this year as input costs stay elevated. Budget models (Alto, WagonR) face the steepest percentage increase. Cost pass-through over volume signals margin-first thinking.

🟩 Grasim’s Birla Opus targets ₹10,000 Cr in revenue and the No. 2 position in decorative paints by FY27. FY26 was its first full year. Asian Paints holds roughly 50% market share.

🟩 Page Industries reports 10.8% volume growth in FY26, its highest in three years. Jockey’s India distributor had two years of inventory normalization post-COVID. Double-digit volumes returning to a premium brand signals genuine demand recovery.

🟩 Jubilant Foodworks targets 230-250 new stores in FY27 and reiterates 5-7% LFL growth. Q1 FY27 expected to beat Q4 FY26. Domino’s India franchisee. 5,000+ store target.

🟩 AurionPro Solutions wins a $33 million, 3-year US fintech deal. Largest-ever deal in the region, expanding an existing client into AI, cloud, and DevOps.

🟩 Force Motors targets 12-15% growth. Mumbai Police adopted 100 Urbania vans, prompting other government departments to evaluate the model. Government fleet adoption turns a commercial vehicle into a recurring institutional procurement cycle.

🟩 WeWork India CEO says FY27 is the company’s strongest-ever opening position, with deep demand and operating leverage. India is the profitable exception in the global WeWork story.

🟩 India’s May HSBC Flash PMI: Services 58.9, Manufacturing 54.3, Composite 58.1. India stays in expansion for the 58th consecutive month. But export orders are at a 19-month low. Domestic demand holds.

🟥 India’s leather and footwear exports fell 1.6% YoY to $4.75 Bn in FY26, hit by US tariffs and West Asia disruptions. India is the world’s second-largest leather exporter.

🟥 India faces elevated memory prices for 12-18 months as AI redirects DRAM supply away from smartphones. The three dominant suppliers cannot ramp fast enough. Indian smartphone prices rose 20-25% in 6 months. Budget smartphone models bear the brunt.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Balaji Amines commences commercial production at its 1,00,000 TPA Dimethyl Ether plant in Solapur, becoming India’s first DME manufacturer. BIS has approved 20% DME blending with LPG, and this capacity is estimated to add approximately 15% to current annual revenues.

🟢 Eris Lifescience guides FY27 revenue growth at 18% to 20%. This is well ahead of India’s pharma industry average of 9 to 10%, driven by chronic therapy launches and integration gains from the Biocon Biologics asset acquisition.

🟢 Star Health targets ₹24,000 Cr in gross written premium for FY27 with 65% sourced from smaller cities, and launches its ‘Value Plus’ health plan. Tier-2 and tier-3 health insurance penetration is currently growing at over twice the metro rate, supporting this geographic pivot.

🟢 Mankind Pharma guides for double-digit top-line growth and EBITDA margins of 25.5% to 26.5% in FY27. The margin band is among the strongest in mid-cap pharma, reflecting Mankind’s acute therapy dominance and low-cost domestic manufacturing base.

🟢 Shaily Engineering Plastics receives regulatory approval and launches a combination drug product incorporating its ShailyPen Neo device technology. The wearable drug delivery segment is a high-barrier, high-value niche with growing global pharma outsourcing potential for contract device manufacturers.

🟢 HDFC Bank approves 2-day work-from-home for business and corporate functions. India’s largest private bank normalizing hybrid work is a bellwether signal for the financial services sector, where return-to-office mandates have been stricter than in other industries.

🟢 Pace Digitek wins a ₹264.65 Cr contract from BSNL to design, build, and maintain the BharatNet Middle Mile Network in the Sikkim Telecom Circle over 1,095 days. BharatNet 3.0 carries a ₹1.39 lakh crore national outlay, giving Pace Digitek multi-year recurring revenue visibility.

🔴 The Gold Jewellery Association reports sharp demand distress, with buyer footfall declining significantly over the last 10 days.

🔴 Bollywood workers face pay cuts of 50 to 60% as fewer movie and OTT projects receive approval. A string of box office failures and tighter OTT content budgets have sharply reduced production activity across the entertainment sector.

🔴 Indonesia announces curbs on palm oil commodity exports. India imports approximately 60% of its palm oil from Indonesia, and supply restrictions are likely to push edible oil prices higher in the near term.

🟢 NCDEX launches weather derivatives on Mumbai rain, making it India’s first standardized weather derivative contract. This creates a new asset class for hedging rainfall-linked business risk across agriculture, infrastructure, and event-dependent industries.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Bharat Forge signs an MoU with the Andhra Pradesh government to establish India’s first private-sector Marine Gas Turbine manufacturing facility at Visakhapatnam, expected to create approximately 750 jobs. India currently imports all naval gas turbines, making this a import-substitution play.

🟢 Zydus Lifesciences guides for high-teen revenue growth in FY27, with India formulations up 14% YoY at ₹1,753 crore. Separately, the board approves a buyback of up to 95,65,217 shares at ₹1,150 per share via tender offer, aggregating ₹1,100 crore. This is Zydus’ third buyback in three years, reflecting consistent surplus capital generation as US generics and biosimilar launches scale.

🟢 Max Healthcare completes acquisition of approximately 58.28% equity stake in Kalinga Hospital, Bhubaneswar for approximately ₹297.97 crore, financed via External Commercial Borrowings of up to ₹300 crore. This marks Max Healthcare’s first footprint in Odisha, a market where private hospital bed penetration remains significantly below the national average.

🟢 Transformers and Rectifiers India (TARIL) secures a ₹175 crore domestic order from Bhanwariya Infra Projects for manufacturing transformers and reactors, with delivery by March 2028. This adds to an order book that now exceeds ₹5,005 crore, against FY26 revenue of ₹2,395 crore standalone.

🟢 NIBE successfully completes test-firing of its Suryastra Universal Rocket Launcher System.

🔴 ITC and Godfrey Phillips hike prices on select pocket pack brands following the 30 to 40% excise duty increase effective February 2026. Pocket Marlboro is now priced at ₹85 from ₹70 and Gold Flake Superstar at ₹79 from ₹70. These might affect cigarette volumes.

🔴 The Indian Rupee hits a fresh all-time low of approximately 96.38 per USD, extending its decline to over 2.2% this week alone. Brent near $107, persistent FII outflows, and higher US yields are some key factors.

🔴 India is on Ebola alert after WHO declared a global health emergency. No cases are confirmed in India so far but airport health screening is being tightened at major international gateways.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🔴 Eicher Motors received Andhra Pradesh Government approval for a 215.7-acre greenfield plant at TADA as existing motorcycle capacity operates at near-full utilization of 14.6 lakh units annually. Through its VECV arm, Eicher will additionally deploy up to 1,000 Eicher Pro-X electric trucks for Amazon India’s Amazon Now quick-commerce operations by 2028, its most significant fleet EV commitment to date.

🟢 Airtel warned that India’s telecom pricing model is under structural stress as ARPU growth begins to stall. Airtel’s ARPU of approximately ₹245 in Q3 FY26 leaves limited tariff hike capacity without subscriber churn risk, making revenue growth increasingly dependent on subscriber addition rather than deeper monetization.

🟢 Neogen Chemicals has commissioned 200 MTPA of lithium electrolyte salt capacity with 1,300 MTPA under trial production, and management targets ₹875 to 950 Cr revenue in FY27. FY27 is positioned as a transformative year as battery chemicals scale from near zero to a meaningful revenue contributor within the overall portfolio.

🟢 Paytm launched Pocket Money, enabling UPI payments for teenagers without a bank account, with parental real-time spend monitoring and limit controls. India has over 250 million teenagers, and this product expands Paytm’s addressable user base well beyond its existing adult payments and credit customer pool.

🟢 Deccan Gold Mines discovered significant Nickel, Copper, and Platinum Group Elements mineralisation at its Bhalukona project in Chhattisgarh. PGEs command 10x to 50x the unit price of base metals and are critical for catalytic converters and hydrogen fuel cells.

🟢 Uno Minda announced total FY27 capex of ₹1,750 Cr with ₹1,100 Cr directed toward growth projects and guided for 11% EBITDA margins. Growth capex at 63% of total outlay reflects an aggressive push to capture rising demand across EV components, passive safety systems, and alloy wheels.

🔴 Amber Enterprises expects temporary margin pressure of 50 to 100 bps on a consolidated basis per its concall.

🟢 Marine Electricals won orders worth ₹208.72 Cr from Adani Infra and Udupi Cochin Shipyard for power distribution and alarm monitoring systems, to be executed over 12 to 24 months.

🟢 GR Infraprojects’ wholly owned subsidiary executed a concession agreement with NHAI for a ₹1,453.57 Cr highway upgradation project to be completed in 910 days.

🟢 Pace Digitek secured a ₹709.9 Cr BESS EPC and 12-year O&M contract from NLC India Renewables for a 250 MW / 500 MWh project across three Tamil Nadu substations. Back-to-back large utility wins take FY27 YTD energy segment order inflows to ₹1,412 Cr, positioning Pace among India’s most active utility-scale BESS EPC contractors.

🟢 Bondada Engineering received orders from Adani Group worth ₹469.52 Cr for a 250 MW BOS package to be executed in 8 months. Cumulative executed capacity now reaches 975 MW, placing the company within striking distance of the 1 GW milestone this fiscal year.

🟢 Commerce Minister Piyush Goyal set a $1 trillion goods and services export target for FY27 and a $2 trillion target over the next five years. Reaching $1 trillion from FY26’s estimated base implies approximately 15 percent growth, making export-oriented sectors including pharma, engineering goods, and textiles key structural beneficiaries.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 HAL expects Tejas MK2 deliveries to commence by August-September 2026 and targets EBITDA margins of 30-31% in FY27. The 110-aircraft IAF Tejas MK2 order is valued at approximately ₹67,000 Cr, anchoring HAL’s revenue visibility well into this decade.

🟢 Data Patterns reaffirmed a 20-25% revenue growth commitment, driven by a defence electronics pipeline aligned with expanding local content requirements under the updated DPP framework. The company has zero civilian segment exposure, making it a pure-play defence technology instrument.

🟢 Solar Industries raised FY27 revenue guidance to ₹14,000 Cr (42% growth versus FY26’s ₹9,838 Cr), with defence revenue guided at ₹4,500 Cr against the FY26 guidance of ₹3,000 Cr. The company enters FY27 with a ₹21,300 Cr order book and ₹2,050 Cr of planned capex.

🟢 Adani Ports unit will acquire a 51% stake in Meridian Transportes Marítimos S.A., adding to its international maritime presence. The acquisition continues Adani’s strategy of building a global port and logistics network that reduces concentration risk on Indian operations.

🟢 ITC Hotels acquired 100% of Zuri Hotels and Resorts (The Zuri Kumarakom, Kerala) at an enterprise value of ₹205 Cr on a cash-free, debt-free basis, marking its first owned resort in Kerala. The company added 33 properties with 3,300 keys in FY26 and targets 250 hotels with 22,000 keys by 2031.

🟢 Hindustan Copper executed an NDA with Chile’s CODELCO and engaged a deal advisor for entry into Chilean copper mining. CODELCO is the world’s largest copper producer; a successful JV would give India’s sole listed copper miner access to world-class Tier-1 reserves outside its constrained domestic base.

🟢 RBL Bank received Ministry of Finance approval for Emirates NBD to acquire up to 74% stake for approximately $3 billion, India’s largest-ever FDI in the financial services sector. The deal remains subject to final RBI clearance. Once completed, RBL will be reclassified as a foreign bank in subsidiary mode.

🟢 Delhivery deployed Autonomous Mobile Robots at its Bhiwandi Mega Gateway, with expansion to all mega gateways planned in FY27. The rollout targets lower in-facility sorting costs and higher throughput per square foot across its network.

🔴 IndusInd Bank faces an intensified SEBI investigation into insider trading, where former officials allegedly traded the bank’s own shares using unpublished information about its derivative portfolio losses, which were disclosed publicly in March 2025. SEBI has collected 1.7 TB of email evidence; former Deputy CEO Arun Khurana and former CEO Sumant Kathpalia have been directed to disgorge approximately ₹20 Cr.

🟢 Skipper Ltd secured ₹1,265 Cr in domestic and international T&D orders spanning 765 kV and 400 kV line projects in India and tower supply contracts in Latin American markets. The new inflows take the order book to approximately ₹9,767 Cr, with a ₹33,000 Cr PGCIL bidding pipeline providing strong multi-year runway.

🟢 WPIL Ltd’s South African subsidiary PCI Africa was awarded a bulk water supply project as part of a consortium worth approximately 7.58 billion Rand. At current exchange rates this translates to roughly ₹3,300 Cr, a significant international water infrastructure win for a relatively underfollowed India-listed stock.

🟢 Welspun Corp secured a ₹700 Cr LSAW pipes order from its US facility, taking the global order book to ₹25,350 Cr for execution in FY27 and FY28. The US manufacturing base positions Welspun as a direct beneficiary of China-plus-one shifts in global oil and gas pipeline procurement.

🟢 UAE committed $5 billion in investments to India during PM Modi’s Abu Dhabi visit, broken down as $3 billion by Emirates NBD into RBL Bank, $1 billion by ADIA with NIIF into priority infrastructure, and $1 billion by IHC into Samman Capital. These are the highest-value bilateral investment commitments ever announced from the UAE to India.

🔴 FMCG companies are beginning price hikes as the edible oil complex rises, driven by Indonesian palm oil supply disruptions. Indonesia accounts for over 55% of global palm oil output. A sustained supply crunch will structurally pressure gross margins for HUL, ITC Foods, and Adani Wilmar through the second half of FY27.

🔴 Indraprastha Gas raised CNG prices by ₹2 per kg in Delhi-NCR from May 15, driven by higher input gas costs and USD appreciation. Piped natural gas prices were kept unchanged. CNG prices in Delhi now stand at ₹79.09 per kg, with auto-rickshaw and taxi operators bearing the primary cost impact.

🟢 Maharashtra cut ATF VAT from 18% to 7%, an 11-percentage-point reduction effective May 15 until November 14, 2026, providing targeted relief to airlines. Maharashtra handles approximately 75 million passengers annually.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Caplin Point Laboratories plans to enter Canada, Australia, MENA, Russia/CIS, Mexico and Brazil in the near to medium term. These additions extend Caplin’s addressable regulated-market geography well beyond its current US-Latin America base.

🟢 Zydus Lifesciences acquires Nasdaq-listed Assertio Holdings at $23.50 per share in an all-cash deal valued at $166 million (~₹1,570 Cr). The headline asset is Rolvedon, an FDA-approved oncology biologic that reduces infection risk in chemotherapy patients and competes in a high-margin segment well above traditional generics.

🟢 Crompton Greaves targets a ₹2,000 Cr solar business within 3-4 years through national rollout of the Crompton Armor wires brand. India’s PM Surya Ghar programme targets 10 million rooftop solar homes, creating large addressable demand for branded wiring and balance-of-system products from established consumer electrical names.

🟢 Siemens AG reports India revenue grew 21% in Q2 FY2026, far above Street estimates of 6-7%, reflecting robust domestic capex across industry, infra and electrification. India was the fastest-growing geography within Siemens’ Asia Pacific region, which grew 8% overall.

🟢 Kalpataru Projects reports new order wins of ₹1,833 Cr YTD FY27, with L1 status on an additional ₹3,200 Cr of projects. The combined confirmed-plus-pipeline position of ~₹5,000 Cr at the very start of FY27 is consistent with the ₹26,000 Cr-plus annual inflow pace achieved in FY26.

🟢 MTAR Technologies secures international blanket purchase orders worth ₹2,279 Cr from an undisclosed existing customer, with execution timelines to be finalized later. This single order is nearly equivalent to MTAR’s entire FY26 closing order book of ₹2,581 Cr.

🟢 L&T, as prime contractor, will offer the Unmanned MCM Suite to all Indian Navy shipyards bidding for the 12 Mine Counter Measure Vessels programme, with France-based Exail as technology partner.

🔴 Higher platinum import duty, doubled from 6.4% to 15.4%, is set to raise vehicle costs by ₹2,500-4,000 for entry-level cars, ₹8,000-12,000 for mid-size diesel SUVs and ₹12,000-18,000 for strong hybrid models. The duty change accelerates OEM incentive to reduce platinum-group metal loading in catalysts or pivot to BEVs where catalytic converters are absent entirely.

🔴 Ministry of Railways plans to dilute 5-10% stakes in six listed railway PSUs and 2-3% in CONCOR via OFS in FY27 to meet ₹2.62 trillion in NMP 2.0 monetization targets. A 5% stake sale across the six PSUs alone could raise ₹15,000-20,000 Cr for the government while all entities retain above-51% government ownership.

🔴 India’s April WPI rose to 8.30% YoY from 3.88% in March, a 42-month high, with fuel and power prices surging 24.71% and crude petroleum inflation hitting 88% YoY. The print significantly overshot consensus estimates.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🔴 Cipla’s Q4 FY26 US sales came at $155M versus $167M in Q3 FY26, with EBITDA margin at 21% versus the company’s earlier guidance of 24%. The shortfall reflects near-zero gRevlimid contribution after patent expiry.

🟢 Tata Power confirms FY26 capex targets were met and flags a continued strong investment pipeline. The company targets 15 GW of renewable capacity by 2030, implying a ₹1.2 lakh Cr investment program spanning solar, wind, and storage.

🟢 Lloyds Engineering Works receives CCI approval for the proposed merger of Lloyds Infrastructure & Construction, Metalfab Hightech, and Techno Industries into the company. The merged entity will carry a combined order book of over ₹6,150 Cr, transforming LEWL into a vertically integrated design-to-execution solutions provider.

🟢 VA Tech Wabag and PEAK announce India’s first Bio-CNG project in Ghaziabad. Bio-CNG can substitute CNG at the pump and represents an emerging energy security play as natural gas prices spike.

🟢 Dixon Technologies says Vivo-Dixon JV news will be coming soon. A formal JV would give Dixon a manufacturing anchor in premium smartphones, adding to existing partnerships with Samsung, Motorola, and Xiaomi.

🟢 Bajel Projects bags a major EPC order for a 765kV AIS substation package with contract value estimated between ₹200 Cr and ₹300 Cr. Bajel has secured multiple ultra-high-voltage orders across FY26, building a differentiated position in a technically complex segment.

🟢 PNC Infratech wins an order worth ₹572 Cr. PNC’s order book stands above ₹17,000 Cr, with 85% of flows from National Highway projects directly backed by the Budget’s ₹2.78 lakh crore highway capex allocation.

🟢 India raises total import duty on gold and silver to 15% from 6%, combining a 10% basic customs duty and 5% AIDC, effective May 13. The hike follows PM Modi’s public appeal to avoid gold purchases for a year, aimed at protecting forex reserves under geopolitical pressure. Gold and silver ETFs extend gains.

🔴 Kerala becomes the first Indian state to cap bulk petrol and diesel purchases, limiting per-transaction volumes. The move mirrors rationing steps adopted globally.

🟢 PM Modi cuts the official convoy size by 50% and asks ministries to adopt fuel-saving and cost-cutting measures.

🔴 Electric bike companies including Bajaj Auto, Hero MotoCorp, Ather Energy, and Revolt Motors face potential price hikes as lithium-ion cell, rare earth magnet, and chip costs rise. Rare earth shortages already disrupted Indian e-2W production in 2025, with Ather having raised prices by ₹3,000 in January 2026 on input cost pressure.

🟢 Govt approves the ₹20,667 Cr Ahmedabad-Dholera semi high-speed double-line railway project, India’s first using indigenous rail technology. The 134-km corridor will connect Ahmedabad with the Dholera SIR and the upcoming Dholera Airport, targeting completion by 2030-31.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Indian Hotels MD cited strong demand conditions, with the PM’s domestic tourism push and busy wedding season lifting hospitality activity. IHCL operates 320+ hotels and the demand upcycle directly supports room rate and occupancy expansion across its portfolio.

🟢 One MobiKwik invested ₹54.7 Cr to build a merchant payments vertical, targeting 10x growth by FY28. It enters a segment dominated by Razorpay and Pine Labs, betting on its existing merchant base rather than a costly greenfield build.

🟢 Dr Reddy’s Labs plans to imminently launch generic semaglutide injection in Canada, where it holds first-mover approval from Health Canada, and generic oral semaglutide tablets in India. Canada is the world’s second-largest semaglutide market, making DRL’s first-mover position a meaningful near-term revenue opportunity.

🟢 SBI approved long-term fundraising of up to $2 Bln for FY2026-27. Offshore debt at this scale supports loan book growth without drawing on domestic deposits, maintaining the bank’s funding mix discipline.

🔴 ABB India flagged that Q4 was impacted by the West Asia conflict, with raw material costs remaining a key concern. The company’s automation and power equipment segments carry above-average input cost sensitivity, making cost pass-through ability the critical variable to watch.

🟢 RVNL emerged as L1 bidder for South East Central Railway’s ₹221.33 Cr electronic interlocking and auto-signalling project in Bilaspur Division, to be executed in 730 days. The win continues RVNL’s run of S&T wins across railway zones, adding depth to an already large order book.

🟢 NSE is targeting a DRHP filing by early June, ahead of market expectations. NSE’s implied unlisted market valuation of approximately ₹6 lakh crore would make this India’s largest-ever IPO.

🔴 India’s affordable smartphone segment fell roughly 46% in Q1 2026 as DRAM and NAND price hikes made budget devices unaffordable. CMR forecasts a 10 to 12% full-year market decline, with recovery dependent on memory price normalisation in H2.

🔴 India’s oil minister disclosed OMCs are losing roughly ₹1,000 Cr daily and over ₹1 lakh Cr this quarter, with no fuel price hike planned and last fiscal’s refiner profits at risk of being entirely wiped out.

🔴 Factory workers are leaving urban manufacturing hubs including Noida for villages as LPG, rent, and transport costs make city life unaffordable. The resulting labour squeeze adds production risk to industrial clusters already under demand pressure.

🟢 India’s April CPI came in at 3.48%, above March’s 3.40% but well below the 3.80% consensus estimate, a positive macro surprise. Inflation holding below the RBI’s 4% target for multiple consecutive months strengthens the case for further rate cuts in the current easing cycle.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Waaree Energies plans to expand US solar module capacity from 1.6 GW to 4.5 GW within the next six months and is evaluating domestic solar cell manufacturing in the US.

🟢 Kalyan Jewellers plans 150 new showrooms in FY27 across Kalyan, Candere, and new regional brands. The expansion targets India’s underpenetrated Tier 2 and Tier 3 jewellery markets, where organised retail share remains below 15%.

🟢 Ather Energy’s Rizta electric scooter crossed the 3 lakh unit sales milestone, driving accelerated growth for the company. Rizta’s mass-market positioning broadens Ather’s addressable segment beyond premium buyers and puts it in direct competition with Ola Electric S1 X and TVS iQube.

🟢 Swiggy’s quick commerce segment targets ₹1 trillion GOV in 3.5 to 5 years, implying 35-50% CAGR. At ₹1 trillion GOV, Swiggy Instamart would match the current scale of Zomato Blinkit. Quick commerce is structurally a winner-takes-all market.

🟢 Cyient Semiconductors launched India’s first GaN Power IC family leveraging Navitas Technology. GaN power ICs deliver up to 40% higher efficiency than silicon alternatives and are seeing surging global demand in EV charging and data centre power conversion.

🟢 Shyam Metalics approved ₹2,700 Cr capex for a speciality wire and bar mill at Kharagpur and stainless steel downstream expansion at Sambalpur, fully funded through internal accruals with commissioning targeted by March 2029.

🟢 Afcons Infrastructure has been selected as the most suitable bidder for the Dugo Selo-Novska railway project in Croatia, valued at €677.07 mn (~₹7,544 Cr), marking its largest-ever international order. This 83 km project, co-financed by EU funds, is the largest railway contract in Croatia’s history and carries a 72-month execution timeline.

🟢 HFCL bagged export orders worth $19.32 mn (~₹184 Cr) for optical fiber cables from international customers. India’s OFC export base is expanding rapidly as global broadband rollout drives annual fiber demand well beyond 700 mn fiber-km across Southeast Asia and Africa.

🟢 Bharat Forge secured a long-term contract from Embraer for the supply of aerospace forged components. Embraer’s 1,000-plus unit commercial aircraft backlog provides Bharat Forge with multi-year revenue visibility in a high-margin aerospace segment.

🟢 CMS Info Systems won a 5-year integrated ATM managed services mandate from HDFC Bank worth ₹400 Cr across 6,000 ATMs. The fixed-pay contract deploys CMS’s HAWKAI AI platform and is designed to lift the company’s private bank revenue contribution to 30% of total revenues by FY27.

🟢 India eased norms to allow large institutional funds to bid directly for highway BOT projects, targeting a BOT share of 25% in total road awards from below 5% currently. The shift reduces the government’s annuity financing burden and is structurally positive for listed highway operators and infrastructure-focused AIFs.

🟢 The government extended subsidy support for companies operating Indian-flagged merchant ships until FY31. The extension improves vessel economics for GE Shipping, SCI, and Essar Shipping relative to foreign-flagged competition.

🔴 PM Modi urged Indians to avoid buying gold for at least one year to conserve foreign exchange reserves, sending jewellery stocks lower on opening. India imports approximately $45 bn of gold annually and even a moderate demand response would materially ease current account pressure during the ongoing energy import shock.

🟢 Commerce Minister Piyush Goyal says India secured greater EU seafood market access through trade negotiations, benefiting Avanti Feeds, Apex Frozen, and Kings Infra Ventures. The EU’s tariff on Indian seafood is significantly lower than the US’s 50% levy, making European rerouting a meaningful revenue substitution for exporters.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

🟢 Tata Consumer Products board approved ₹160 Cr to set up a 2,000 MT instant tea manufacturing facility in India. India’s instant tea market is growing at ~8% annually, driven by export demand and domestic premiumization.

🟢 Dabur revised India business revenue guidance upward to low double-digit growth for FY27, from its earlier single-digit target. Rural India, where Dabur derives ~45% of domestic revenues, is the primary driver behind this guidance upgrade.

🟢 Gravita India plans to expand lead recycling capacity at Jaipur by 42,000 MTPA with a ₹30 Cr investment, targeting completion by June 2026. India’s rising EV battery demand is accelerating secondary lead recycling.

🟢 JSW Infrastructure received permission to operate Berth No. 7 at Netaji Subhash Dock in Kolkata and targets cargo capacity of 400 MTPA by FY2030 from 183 MTPA currently, backed by ₹39,000 Cr combined capex across ports and logistics.

🟢 Royal Enfield (Eicher Motors) will invest ₹2,200 Cr in an Andhra Pradesh plant. This is Royal Enfield’s first dedicated manufacturing facility in South India, reducing production concentration away from the Chennai base.

🟢 Vijaya Diagnostic outlined a ₹140-150 Cr FY27 capex plan focused on a fully automated lab in Hyderabad. Diagnostic automation typically reduces cost per test by 20-30%, directly supporting EBITDA margin expansion in high-throughput lab operations.

🟢 Paytm (One 97 Communications) expects FY27 revenue growth acceleration and targets 15-20% EBITDA margins via payments, financial services, and marketing services recovery. Achieving this margin range would mark Paytm’s first meaningful EBITDA profitability milestone.

🟢 L&T won a significant contract valued between ₹1,000 Cr and ₹2,500 Cr. L&T’s order book now exceeds ₹5 lakh Cr, with infrastructure and clean energy verticals accounting for the majority of recent inflows.

🟢 Bondada Engineering won an ₹816 Cr EPC order from NTPC Green Energy for a 600 MW solar project at Fatehgarh, Rajasthan. This second NTPC mandate carries a 16-month execution window and directly supports the company’s guided FY27 revenue growth of 60-70%.

🟢 Tata Group and JSW Group are separately investing nearly $1 billion in EV and battery R&D to reduce reliance on Chinese technology. India’s EV sales surged ~70% in early 2026, underscoring the urgency for domestic battery IP and reduced import dependence.

🔴 Dixon Technologies is under ED investigation over its proposed Vivo-Dixon JV, according to media reports. A regulatory block on the JV would affect Dixon’s smartphone manufacturing scale-up plans tied to India’s PLI scheme.

🔴 An Expert panel linked Paraquat Dichloride to lung damage, kidney disease, and Parkinson’s risk, recommending a ban that would directly impact Dhanuka Agritech and Dharmaj Crop Guard. The chemical is already banned in 78 countries including the EU, and India remains one of the last major agricultural markets still permitting its use.

🟢 DFS Secretary indicated top 3 airlines may receive up to ₹1,500 Cr each in government support, a direct positive for IndiGo. Government intervention signals sector stress from elevated fuel costs driven by the ongoing West Asia conflict.

🔴 Bajaj Auto warns motorcycle industry growth could slow to 7-9% in FY27 due to rising fuel prices and metal inflation. The sector grew ~12% in FY26 and a deceleration to 7-9% would mark the sharpest single-year growth slowdown since FY22.

That’s it for today.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes. We do not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.