Things I read yesterday as part of my stock research activities.
New Orders & Projects
🟢 Bharat Forge secured supply of 60% of 4.25 lakh carbines in Indian Army’s major indigenous weapons deal.
🟢 Bharat Electronics received a ₹633 crore order from Cochin Shipyard to supply critical sensors, weapon equipment, fire-control and communications for naval platforms, reinforcing BEL’s naval electronics pipeline.
🟢 Kirloskar Ferrous secured ₹358 Cr contract from ONGC for EUE Tubing, Pup Joints, and Crossovers, executable by October 2026.
🟢 Coastal Corporation secured ethanol supply order for 56,521 KL valued at ₹361.73 Cr under EBPP.
Partnerships & Acquisitions
🟢 HCLTech & Dubai Islamic Bank (DIB) announced a strategic AI partnership to embed AI across DIB’s operations with an emphasis on responsible, Shariah-aligned deployment.
🟢 Jain Resource Recycling entered a JV with C&Y Group Investments to set up a recycling and manufacturing facility in Ahmedabad, targeting copper-rich scrap streams such as cables, motors and coils.
🟢 JSW Neo Energy signed to acquire Statkraft’s 150 MW Tidong hydro project for ~₹1,728 crore, completion targeted in 2026. It will also receive GE Power India’s Durgapur boiler business via demerger and share swap.
🟢 Leela Palaces Hotels acquired 25% stake in Dubai luxury resort for $49M and restructured Mumbai BKC project to own 50% with ₹800 Cr CAPEX.
🟢 Tata Technologies signed definitive agreement to acquire ES-TEC for access to Volkswagen and strengthened ADAS capabilities.
Core Business & Regulatory
🟢 Tata Motors JLR to fully resume production by January 2026 after September cyberattack.
🟢 TVS Motor released a Norton flagship superbike design sketch and said Professor Gerry McGovern OBE will advise on a new generation of motorcycles, signaling a premium design push from the British marque.
🟢 NMDC hiked iron ore prices with Baila Lump at ₹5,550/ton and Baila Fines at ₹4,750/ton effective October 22.
🟢 UCO Bank plans 150 new branches over the next five months as part of a growth and reach expansion drive, with focus on retail and SME penetration.
🔴 An IndiGo Kolkata–Srinagar flight diverted to Varanasi on October 22 after a suspected fuel leak. All 166 onboard were safe, with inspections and a relief aircraft arranged.
🔴 MTNL defaulted on principal and interest payments totaling ₹8,806 Cr to seven banks.
Economy, IPOs & Other
🟢 Mint reported India and the US are nearing a partial trade deal that could cut tariffs on some goods from about 50 percent to 15 percent, with talks linked to energy flows. No official confirmation yet.
🔴 An RBI study flagged cheap imports and dumping as headwinds for India’s steel sector, suggesting policy support may be needed as demand moderates and import competition intensifies.
🟢 Indian CRDMOs might benefit as the US Biosecure Act pushes supply chain diversification away from China.
🟢 Zoho entered UPI and consumer payments space with new app Zoho Pay for transactions.
That’s it for today.
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