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