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October 09, 2026 TOP
NEWS War update:
President till yesterday was thinking of resuming the attacks on Iran due to
which Oil was burning in the yesterday’s session while in the recent
announcement he mentioned he would skip the attacking it till mid term elections which led the oil prices to decline . He also touted "productive
conversations" with Iran, though he did not provide specifics. Crude
prices hovering around $103/barrel. Asian markets trades
flattish whereas Gift nifty indicates a positive start with 180 points
increase on bourses. Indian
markets: Nifty has made fresh lows amid the brutal sell off yesterday. The
sell off was across the boards with mid and small caps also now contributing
to sell off. Earlier only large caps were seeing corrections, but it seems
like Mid and small caps also has started to break down. FII in the 1st
10 days of Oct have sold almost a 30,000 crore of value. The set clearly
indicates the near term firmly cautious. Large caps shall be the focus amid.
The upcoming session can be volatile since we also will be running through
the Q2 earning season. Pace Digitek: The company has received a Letter of Intent (LoI) from BSES Rajdhani Power (BSES) for the development
of a 57.5 MW/115 MWh standalone battery energy storage system (BESS) in
Delhi. The project will be developed under a 12-year build, own, operate and
transfer (BOOT) model, with a capital outlay of around Rs 179.4 crore. The
project is scheduled to be executed within seven months. KEC
International: ecured new orders worth Rs 1,030
crore across its transmission and distribution, renewables, and cables
businesses in India, Bhutan, Saudi Arabia, and the Americas. Lupin: The
company’s Phytonadione Injectable Emulsion gets USFDA nod for 1 mg/0.5 mL. The Estimated annual U.S. sales for the same is USD
52.3 million (IQVIA MAT Aug 2026). Pace Digitek: The company has received a Letter of Intent (LoI) from BSES Rajdhani Power (BSES) for the development
of a 57.5 MW/115 MWh standalone battery energy storage system (BESS) in
Delhi. The project will be developed under a 12-year build, own, operate and
transfer (BOOT) model, with a capital outlay of around Rs 179.4 crore. The
project is scheduled to be executed within seven months. P
N Gadgil Jewellers Ltd –Q2FY27 Business Update – Overall revenue growth of 22.4%
yoy. Retail segment contributed ~77.3% of revenue
with 31.1% yoy of growth.E-commerce segment grew by ~83.6% yoy. Tilaknagar Industries: CFO
resigned for personal reasons. STOCK
UPDATE Viewpoint: JTL Industries Ltd– Capacity
doubling to unlock the next leg of growth View:
Positive
CMP: Rs.
88
Target: 122 ·
JTL is doubling pipe capacity to ~2 million
tonnes by FY28, with a major focus on value-added products (VAPs), including
galvanised, colour-coated and API-grade products. ·
DFT business has turned profitable after
initial losses, generating EBITDA of ~Rs. 4,500–5,000/tonne currently.
Project approvals and deeper foray into the institutional market would boost
number further. ·
Government orders are down to ~5% from
20-25% of sales, this releases receivables largely stuck in the J&K Jal
Jeevan Mission; working capital cycle would shrink to 35-40 days by FY29. ·
We initiate coverage on JTL with a positive
view and expect operating cash flow to turn positive in FY28 after three
negative years. We see a 39% upside to a price target of Rs.c122, based on
9MFY28 EPS and 3MFY29 EPS .
OTHER
NEWS JSW
Steel Ltd. Q2FY27 Production Volumes update: Indian Operations production
came at 7.07 Million Tonne (MT), YOY 5.4%, QOQ 11%.. Consolidated Production came at 7.27 MT, YoY 5%, QOQ
10%. Steelcast: The company received
IRIS Certification from TUV India, becoming the first iron and steel
organisation in Gujarat to receive the certification. The certification is
expected to enable access to the European rail-road industry market and is
valid until February 27, 2029 Gravita India has incorporated a new
step-down wholly owned subsidiary, Green Maputo Recyclers, in Mozambique to
expand its recycling operations. The company invested USD 2,00,000 (approx.
Rs. 191.34 Lakh at Rs. 95.67/USD) to establish this entity, which will explore
business opportunities in lead, aluminium, and rubber recycling. The
subsidiary was incorporated on October 2, 2026, and is yet to commence
business. NCC: The company has Received a Rs. 1,286
crore order from Hyderabad Growth Corridor Limited for construction of Radial
Road-2 from Budwel to Shabad
in Telangana. The project is to be completed within 18 months. |
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