Things I read yesterday as part of my stock research activities.
Quarterly Results
New Orders
🟢 RVNL emerged as L1 bidder for an East Coast Railway project worth ₹967.93 Cr for construction of major bridges with open web steel girders on EPC mode. RVNL’s current order book exceeds ₹1 lakh crore.
🟢 VA Tech Wabag’s JV with Kuwait’s HEISCO submitted the lowest bid of ~$374 million (KWD 114 million) for the Doha SWRO Desalination Plant with 8-year O&M services, awaiting LOA. With multiple Gulf LOAs and L1 bids secured in FY26, Wabag’s total Middle East order pipeline now exceeds ₹6,000 crore.
Partnerships, Investments & Acquisitions
🟢 Aditya Infotech signed an MoU for a proposed 50:50 manufacturing JV with Orient Cables (India) focused on CCTV, LAN, and electric cable production, targeting backward integration for its CP Plus product range.
🟢 Hindustan Copper’s team is set to visit Chile on April 18-19 to evaluate a proposed JV stake in 4 Codelco copper blocks alongside Coal India and NTPC Mining. Mines Secretary confirmed JV talks are already in final stages.
Core Business & Regulatory
🟢 Wipro announced a ₹15,000 crore buyback of up to 60 crore shares at a confirmed price of ₹250 per share via the tender offer route, representing a ~19% premium. This is Wipro’s first buyback since April 2023 and its largest ever.
🟢 DRDO is advancing the Development cum Production Partner (DCPP) model under its DRDO 2.0 strategy, progressively handing over development and production of conventional missile and weapon systems to Indian private companies from 2025. Adani Defence (RudraM-II missile) and Reliance Infrastructure (155mm artillery ammunition) are among the first confirmed private sector DCPP beneficiaries.
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.