Stock Notes, 04 November 2025
Things I read yesterday as part of my stock research activities.
New Orders Received
🟢 Zen Technologies secured ₹289 Cr order from Ministry of Defence for rapid anti-drone system upgrades, enhancing defence capabilities.
🟢 NCC Limited announced it has secured four new orders totalling ₹ 710 crore in October 2025, with ~₹ 590.9 crore in the Buildings division and ~₹ 119.1 crore in the Transportation division.
🟢 Lloyds Engineering Works Limited (LEWL) has secured a consortium contract for a 4.2 Mtpa pellet plant for Steel Authority of India (SAIL) Limited’s IISCO Steel Plant, valued at ₹613 crore (Indian portion) + €18.26 million (Euro portion).
🟢 Titagarh Rail secured ₹2,481 Cr order from MMRDA for rail systems supply.
Core Business & Regulatory
🔴 Hero MotoCorp sales fell ~6.4 % year-on-year in October to 6.36 lakh units, driven by weaker domestic demand.
🟢 TVS Motor Company reported ~11 % year-on-year growth in total sales in October to 5.43 lakh units, buoyed by ~10 % growth in two-wheelers and strong exports.
🟢 Bajaj Auto achieved ~8 % year-on-year total volume growth in October to 5.18 lakh units.
🟢 Maruti Suzuki India delivered ~6.8 % year-on-year growth in October to 2.20 lakh units, with domestic sales climbing ~9.2 %.
🟢 Mahindra & Mahindra saw total auto volumes rise ~26 % in October to 1.20 lakh units, with domestic PV sales up ~31 %.
🟢 Tata Motors commercial vehicle sales increased ~10 % year-on-year to 37,530 units in October, signalling improving demand momentum.
🟢 Royal Enfield recorded ~13 % year-on-year growth in October units to 1,24,951.
🟢 Escorts Kubota tractor sales rose ~3.8 % year-on-year to 18,798 units in October, aided by agriculture sector revival.
🟢 Adani Ports & Special Economic Zone handled 40.2 million tonnes of cargo in October, up ~6 % year-on-year, while its logistics rail volumes rose ~16 % to 60,387 TEUs.
Company Results
Partnerships & Acquisitons
🟢 IndusInd International Holdings acquired 60% stake in Invesco Asset Management India to form asset management joint venture.
🟢 L&T’s Heavy Engineering unit signed an MoU with Holtec International’s Asia arm to co-develop advanced heat transfer equipment for nuclear and thermal plants, supporting SMR-300 deployment and energy transition.
Economy, Industry & Other
🟢 GST revenues in October rose 4.6 percent year on year to 1.96 lakh crore.
🟢 Manufacturing PMI climbed to 59.2 in October from 57.7.
🟢 DGCA proposed allowing ticket cancellations or changes within 48 hours of booking, making airlines responsible for refunds via agents.
That’s it for today.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes to understand more about the business. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.