Things I read yesterday as part of my stock research activities.
Quarterly Results
New Orders Received
🟢 BEML secured a ₹590 Cr order from the Ministry of Defence for supply of trawl assemblies for T-72 and T-90 tanks. The DRDO-developed trawl system clears anti-tank mines with proximity magnetic fuses, a critical gap in armoured corps mobility.
🟢 RailTel Corporation of India secured an order worth ₹86.36 Cr from Municipal Corporation of Greater Mumbai for cloud services, with execution to be completed by June 5, 2029.
Core Business & Regulatory
🟢 Reliance Industries and Essar are among the top bidders for 16 coalbed methane (CBM) blocks. India’s CBM reserves are estimated at over 2.6 trillion cubic metres, currently almost entirely undeveloped relative to shale gas leaders.
🔴 HCLTech CEO said performance came below expectations due to lower discretionary spend and delayed decision-making by clients, with reduction in discretionary spending seen particularly in telecom. Telecom vertical headwinds are sector-wide, with peers TCS and Infosys also flagging similar client caution on discretionary budgets.
🟢 HCLTech annualized advanced AI revenues crossed $620M in Q4FY26, with AI now integral to nearly all deals. Advanced AI revenue has scaled from over $100M quarterly in Q2FY26 to an annualized $620M run-rate.
🟢 Transformers and Rectifiers Ltd (TARIL) Chairman announced a new capex infusion of ₹600 Cr over the next 15 months. Phase 1 of the journey towards $1B revenue in 3 financial years has started.
🟢 Smartworks Coworking became India’s first listed flex space provider to cross 10 million sq. ft. of operational portfolio. India’s flex office stock stands at around 80 million sq. ft., with Smartworks now crossing the 10 million mark and consolidating among the top 3 operators.
🟢 Biocon received Health Canada approval for biosimilars Bosaya and Vevzuo (Denosumab), benefiting more than 2 million adults with osteoporosis and bone metastasis. Canada’s biosimilars market is growing at double digits annually.
🟢 Thangamayil Jewellery reported Akshaya Tritiya sales revenue of ₹279.27 Cr, up 75.87% YOY, with volume sales up 15.14% to 183.20 KG and non-gold revenue rising 61% to ₹17.99 Cr. Volume growth of 15% against value growth of 76% confirms that gold price inflation is driving a large share of the revenue surge.
Economy, IPO & Other
🟢 The government is readying India Semiconductor Mission 2.0 by May with a proposed outlay of up to ₹1.2 lakh crore, with Finance Ministry approval expected soon. Inter-ministerial consultations are underway. ISM 1.0 attracted ₹1.6 lakh crore in investment commitments from 10 projects across 6 states, validating demand for the larger Phase 2 push.
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.