Things I compiled yesterday as part of my stock research activities.
Quarterly Results
Core Business
🟢 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.
New Orders Received
🟢 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.
Economy & Other
🟢 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.
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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. 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.