Things I read yesterday as part of my stock research activities.
New Orders Received
🟢 Larsen & Toubro secures an Indian Army licensed manufacturing contract for BvS10 vehicles with BAE Systems. Includes integrated logistics support and indigenous production at the Hazira facility.
🟢 H G Infra Engineering receives an order worth ₹274.11 Cr from DLF Cyber City Developers for major infrastructure works.
🟢 NBCC receives new work orders worth about ₹2,966 Cr from Nagpur Metropolitan Region Development Authority boosting its government projects order book.
🟢 Knowledge Marine and Engineering Works receives a work order worth ₹384.33 Cr from Visakhapatnam Port Authority for marine and engineering services.
Partnerships & Acquisitons
🟢 Adani Enterprises is declared successful resolution applicant and issued a letter of intent for acquiring Jaiprakash Associates marking another large stressed asset acquisition for the group.
🟢 Ashok Leyland partners with FAMCO Qatar to strengthen its presence in the Qatar commercial vehicle market through distribution collaboration.
🟢 Bajaj Auto completes acquisition of Pierer Bajaj AG gaining sole controlling stake and indirect control over Pierer Mobility and KTM strengthening its premium motorcycle ecosystem.
🟢 Hindustan Aeronautics signs a contract with Hensoldt Sensors Germany for transfer of design and IPR including manufacturing and repair capabilities for obstacle avoidance and degraded visual environment systems for helicopters.
Core Business & Regulatory
🟢 Vedanta plans to boost investments in Saudi Arabia aligning with the kingdom’s ambition to become a metals and mining hub and diversifying its global asset base.
🟢 Jio launches the Jio Gemini offer opening Gemini 3 based services for all unlimited 5G users, expanding its AI centric consumer proposition.
🟢 Jyoti CNC Automation’s wholly owned subsidiary Huron Graffenstaden commissions a new production facility at its existing site in France boosting global machining capacity.
🟢 NBCC successfully sells 609 residential units in Greater Noida projects through an e auction worth about ₹1,069.43 Cr showcasing strong demand for stressed housing inventory.
Economy, Industry & Other
🟢 MG Motor Windsor EV crosses 50,000 sales in just over a year becoming the fastest electric car model in India to hit this milestone and underscoring strong EV adoption.
🟢 Starbucks through CEO commentary identifies India as one of its fastest growing markets and plans to double down on store expansion and growth initiatives.
🟢 Nvidia posts record Q3 revenue of about 57 billion dollars up 62 percent year on year with Q4 revenue guided to 65 billion dollars and CEO dismissing AI bubble concerns.
🟢 Nasdaq futures surge after Nvidia’s strong results. Global tech stocks including Japan rebound as AI demand expectations continue to rise.
That’s it for today.
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