Things I compiled yesterday as part of my stock research activities.
Key Updates
🟩 JSW Steel commenced construction of its 13.2 MTPA greenfield integrated steel plant at Paradeep, Odisha, with an estimated investment of Rs 65,000 Cr in phases. The plant is built on land where South Korean steel giant Posco failed after two decades of resistance. India’s largest private steel capex is now formally underway.
🟩 HCLTech launched an autonomous finance platform powered by Google Cloud’s Gemini Enterprise, targeting end-to-end automation of financial operations for enterprises. Positions HCLTech in the agentic AI race for enterprise finance workflows.
🟩 Zydus Lifesciences received FDA Priority Review for the Saroglitazar NDA in primary biliary cholangitis, the first Indian NCE to reach this milestone. Saroglitazar is the only PPAR alpha/gamma dual agonist with positive Phase 3 data in PBC.
🟩 KEC International secured Rs 1,303 Cr in new orders across T&D, Civil, Renewables, and Cables in India and the Americas. Wins include 400/220 kV substation contracts in Southern India and a 150+ MW wind project in Western India. FY26 order book stood at Rs 36,267 Cr.
🟩 Ola Electric secured regulatory approval for a new electric scooter targeting India’s commercial mobility market, expanding beyond the consumer segment. Commercial two-wheeler EV penetration in India is near-zero. Ola moves first into a segment with a vast untapped fleet of delivery, logistics, and last-mile vehicles.
🟩 Ministry of Defence issued formal RFPs to three consortia for the AMCA fifth-generation stealth fighter prototype: L&T-BEL, Tata Advanced Systems, and Bharat Forge-BEML-Data Patterns. Five prototypes at Rs 15,000 Cr. First prototype target is early 2027. First flight during 2029.
🟥 Air India and IndiGo are cutting domestic flights from June 1 for three months. Air India reducing capacity by up to 22%, IndiGo by 5-7%. ATF costs have risen from Rs 80,000 to over Rs 1 lakh per kilolitre on Iran conflict. Both airlines control 90%+ of domestic capacity. Airfares expected to rise.
🟥 IGL raised Delhi CNG prices by Rs 2/kg on Tuesday, the fourth hike in 15 days, taking rates to Rs 83.09/kg. Cumulative rise since May 15 has been Rs 6/kg. MGL has separately cut commercial subsidies in Mumbai.
🟥 Hyundai Motor will raise vehicle prices by up to Rs 12,800 per car depending on model and variant, effective June 1, 2026.
Key Quarterly Results
Companies with good results.
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.