Stocks to Watch

Positive Developments

• Vedanta – Declared preferred bidder for Punnam Manganese block in Andhra Pradesh (152-hectare G4 exploration). Adds to mineral security and upstream diversification.

• John Cockerill India – Wins major Tata Steel contract for push-pull pickling line & acid regeneration plant at Jamshedpur. Boosts credentials in sustainable steel solutions.

• Texmaco Rail – Bags ₹87 cr wagon order from Ultratech, delivery by Mar’26. Strengthens non-rail infra order book.

• JSW Energy – Arm JSW Neo to acquire 150 MW Tidong hydropower project from Statkraft for ₹1,728 cr. Expands renewable base with hydro integration.

• Barbeque-Nation – Renamed to United Foodbrands w.e.f Sept 18. Signals wider F&B ambitions beyond BBQ.

• Waaree Energies – Subsidiary Waaree Power to acquire 76% in Racemosa Energy (smart meters) for ₹53 cr. Strategic move into energy-tech solutions.

• Sasken Tech – Partners with VicOne (Trend Micro unit) for in-vehicle cybersecurity. Enhances global auto-tech offerings.

• Ramky Infra – Subsidiary wins ₹2,085 cr Musi River rejuvenation water supply project. Significant infra order win.

• Arfin India – Secures large aluminium order (~₹30 cr/month) from JFE Shoji India. Ensures recurring visibility.
• Refex Renewables – Forays into organic fertilizers with “Biodhanic”. ESG-aligned diversification.

• KFin Tech – First RTA approved in GIFT City. Expands international footprint.

• Oil India – Plans exploration in Kerala-Konkan basin. Expands domestic upstream potential.

• Thomas Cook (Sterling Holidays) – Opens new resort in Vellore, 9th in Tamil Nadu. Expands leisure footprint.

• Sai Life Sciences – Opens new veterinary API facility in Bidar. Expands product base.

• Biocon Biologics – Canada’s Ontario province lists Yesafili (biosimilar Eylea) under public funding. Commercial boost.

• Adani Group – SEBI clears Adani Ports, Adani Power, and Adani Ent of Hindenburg-linked allegations. Restores confidence.

• Laxmi Organics – Wins MERC case against MSEDCL. Positive for margins.

• Mukka Proteins – Diversifies into sustainable agri & waste solutions.

Neutral / Clarifications

• Indian Hotels (Taj) – Clarifies it holds lease rights (not ownership) of The Pierre, NYC. Media reports of $2 bn exit “misleading.”

• Reliance Industries – Completes merger of two Middle East subsidiaries. Restructuring exercise, no immediate financial impact.

• Sheela Foam – NCLT approves composite scheme of arrangement. Implementation pending ROC filing.

• Netweb Tech – Goldman Sachs trims stake to 3% (from 5%).

• Dr. Reddy’s – Promoters transfer 20.58% stake via off-market route. Neutral for operations.

• Metropolis – Acquires Ambika Pathology Lab, strengthening regional presence.

• PSP Projects – World record concrete pour for Vishv Umiya Dham temple project. Showcases execution capability.

• Multiple companies announced dividends, splits, rating affirmations, and board changes (see dividend watchlist below).

Negative Developments

• MobiKwik – Tech glitch led to unauthorized payouts in Haryana. FIR filed, arrests made, ~2,000 accounts frozen. Damage control underway.

• Unichem Labs – Receives €19.5 mn demand notice from EC over Perindopril case; €16.7 mn still payable. Overhang on earnings.

• Mukka Proteins – Receives ₹141 cr GST demand for FY22. Potential liability clouding expansion moves.

Dividend / Corporate Action Watch

• Dozens of ex-dividend dates across midcaps & smallcaps (e.g., NALCO ₹2.5/sh, Gulf Oil ₹28/sh, Victoria Mills ₹50/sh, Southern Gas ₹50/sh).

• Adani Power: stock split (1:5, ₹10 → ₹2 FV) effective Monday.
• TFCIL: Stock split ₹10 → ₹2 FV.

VRIGHT Exchange | Analyst Insights:

1. Adani & JSW in focus – regulator clean chit + M&A in renewables.
2. Mineral & metals play – Vedanta wins manganese block, Arfin secures aluminium order.

3. Diversification theme – Refex (organic ferts), Waaree (smart meters), Mukka (waste mgmt).

4. Consumer rebranding – Barbeque Nation → United Foodbrands; signals broader strategy.

5. Risk alerts – Unichem fine, MobiKwik glitch, Mukka GST notice could pressure sentiment.