Corporate & Economy Highlights – 26 September 2025

Key Corporate Updates

• Accenture: Q4 FY25 revenue $17.6B, beating estimates despite a 0.7% QoQ decline. FY26 growth guidance: 2–5% in constant currency.

• BHEL / REC: DIPAM rejected proposal for forming JV between BHEL and REC Power Development & Consultancy.

• Allcargo Logistics: Focus on digital execution; expects revenue & EBITDA CAGR of 12% & 21% by FY30.

• NTPC: Commercial operations began for 167 MW Rajasthan solar project.

• Exide Industries: Invested ₹80 Cr in Exide Energy Solutions.

• Electronics Mart: New multi-brand store launched in Andhra Pradesh.

• JSW Energy: Filed appeal in Supreme Court challenging Appellate Tribunal for Electricity order.

• RITES: Secured $18M order from South Africa’s Talis Logistics for diesel-electric locomotives.

• ITCONS E-Solutions: Awarded Rs 3.8 Cr manpower contract from HAL, Ministry of Defence.

• IIFL Finance: Board approved enhancing private placement issuance up to ₹500 Cr.

• Camlin Fine Sciences: Timeline extended for Vinpai SA acquisition to 30 November.

• NTPC Green Energy: Commissioned 25 MW solar project in Gujarat (part of 37.5 MW total).

• Veranda Learning: Transferred vocational segment to SNVA EduTech for 50% stake; new entity targets Rs 250 Cr revenue FY26, with future IPO plans.

• Avenue Supermarts: New store opened in Andhra Pradesh; total stores now 430.

• Carysil: No new QIP; expansion funded via earlier QIP proceeds.

• Capital India Finance: Re-appointed Keshav Porwal as MD; approved fund raise via debt securities.

• Waaree Energies: Incorporated step-down arm “Waaree Forever Energies Three” for power projects.

Notable Stock News

Positive Developments

• Dabur / Patanjali: FSSAI launches dedicated licensing window for Ayurveda Aahara products.

• Kalpataru Projects: Vindhyachal Expressway arm settles arbitration award.

• TVS Motor: Expands global footprint via Italian acquisition.
• Supreme Petrochem: Commissions ABS project with 70,000 TPA capacity in Maharashtra.

• Jeena Sikho Lifecare: New hospital commenced operations in Raigad, Maharashtra.

• Umiya Buildcon: Secured 1-acre land from Karnataka Govt for manufacturing facility.

• Maruti Suzuki: Invicto SUV scores 5 stars in Bharat NCAP.
Neutral Updates

• Zydus Lifesciences: Tax demand of ₹35.897 Cr dropped.

• Exide Industries: ₹80 Cr investment for lithium-ion cell plant.

• Ratnamani Metals: Acquired remaining stake in Ratnamani Trade EU AG, Switzerland.

• Nuvoco Vistas: CGST show-cause notice for ₹37.61 Cr + ₹74.87 Cr penalty.

• Mahindra & Mahindra, Mphasis, Blue Star: Upcoming Q2 board meetings.

• Polycab: Promoters sold 1.5% equity for ₹1,740 Cr.

Negative Updates
• Waaree Energies: US Customs probes anti-dumping & countervailing duties evasion claims.
• Carysil, Stovecraft: US imposes 50% tariffs on kitchen cabinets & bathroom vanities.

Market Overview
• SGX Nifty: 24,873 (-89 pts) | Nifty Futures: 24,962

• Global Markets: Dow -173.96 | Nasdaq -113.51 | S&P -33.25 | FTSE -36 | DAX -131 | Nikkei -143

• Commodities: Crude $65.29/brl (+0.31), Brent $69.42/brl (-0.00), Gold $3,774.90 (+3.80), Silver $45.115 (+0.04)

• Currency: EUR $1.1658 | JPY 149.91 | INR 88.744
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Board Meetings – 26 September 2025
• Abhicap: General
• Amanta: Quarterly Results
• Bijhans: Voluntary Delisting
• Dollar: Scheme of Arrangement
• Indocity, Nirlon: General

F&O / Trading Notes
• Stocks under NSE F&O ban: 26 September 2025
• ASM Framework Long-Term: Bil Vyapar, Globe Int, Karma Energy, Setco Automotive
• ASM Framework Short-Term: Tata Investment, HVAX Tech, HP Telecom, Sharp Chucks, Giriraj Civil, Aaradhya Disposal
• Circuit Filter: Emkay Global – reduced from 10% → 5%