Things I read yesterday as part of my stock research activities.
Quarterly Results
New Orders & Projects
🟢 L&T Technology Serv secured record $300 million large deals in AI/Gen AI and sustainability with 18% EBITDA growth.
🟢 Ircon International secured Rs 360 Cr order for civil works from Petronet LNG.
Partnerships & Acquisitions
🟢 Emirates NBD to acquire 60% stake in RBL Bank for Rs 26,853 Cr through primary infusion.
🟢 PTC Industries formed joint venture with Bharat Dynamics for advanced propulsion systems and guided bombs for missiles and UAVs.
🟢 Desco Infratech signed MOUs with KPI Green Hydrogen and Naveriya Gas for hydrogen-natural gas blending projects.
Core Business & Regulatory
🟢 Reliance Retail launched 600 dark stores across India for faster local deliveries.
🟢 UltraTech Cement plans Rs 10,255 Cr capex to expand capacity by 22.8 mtpa by FY28.
🟢 AU Small Finance Bank received RBI approval to transition to Universal Bank within 18 months.
🟢 Hindustan Aeronautics inaugurated third LCA Mk1A and second HTT-40 production lines at Nashik increasing annual capacity to 24 aircraft.
🟢 Alembic Pharma received USFDA approval for Triamcinolone Acetonide Injectable Suspension with $96 million market.
🟢 Manorama Industries raises FY26 guidance to Rs 1,150 Cr revenue on specialty fat demand and global expansion.
🟢 Gujarat Themis Biosyn expanded fermentation capacity from 450 KL to 990 KL at Vapi facility.
🟢 ACME Solar commissioned first phase of 100 MW wind project in Gujarat.
🔴 Glenmark and Dr. Reddys ordered by USFDA to recall products from U.S. market.
Economy, IPOs & Other
🟢 September auto sales hit record high due to festive demand and GST tax cuts.
🟢 India’s office vacancy fell to a 17‑quarter low of 15.7% in Q2FY26, led by strong Global Capability Centre expansion and record leasing in Bengaluru, Mumbai, and NCR.
🟢 India’s gold reserves crossed $100 billion for first time reaching $102.36 billion.
🔴 US senator warns of poor-quality drug imports from India and China calling for tougher FDA inspections.
🟢 Karnataka approved Bengaluru Business Corridor project to decongest traffic.
🟢 Meesho received SEBI approval for $800 million IPO.
🟢 Coca-Cola considering $1 billion IPO for Indian bottling unit.
🟢 House of Hiranandani to invest Rs 500 Cr for premium office tower in Andheri.
🟢 Toshiba to invest Rs 3,200 Cr to expand power transmission and distribution equipment business by FY27.
That’s all for today. Wishing you all a Happy Diwali:)
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