Things I compiled yesterday as part of my stock research activities.
Key Quarterly Results
Core Business
🟢 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 MarÃtimos 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SEBI investigation into insider trading, where former officials allegedly traded the bank’s own shares using unpublished information about its derivative portfolio losses, which were disclosed publicly in March 2025.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.
New Orders Received
🟢 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.
Economy & Other
🟢 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.
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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.