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Business Upturn
a day ago
- Business
- Business Upturn
Stocks to watch on July 28: Titan, BEL, SAIL, Kotak Bank, TCS, Zydus, Brigade in focus after key deals and earnings
By Arunika Jain Published on July 28, 2025, 08:02 IST Several stocks are likely to be in focus on July 28 following major order wins, corporate developments, and quarterly earnings announcements. Here's a roundup of key newsmakers from the India Daybook: Major deals and project wins Titan Company announced the acquisition of Damas Jewellery, marking a strategic expansion in its international jewellery footprint. Bharat Electronics Ltd (BEL) secured a ₹1,640 crore defence contract for advanced air surveillance radars, while RITES bagged a ₹177 crore manufacturing unit project from BEL in Andhra Pradesh. Asian Energy Services received an ₹865 crore order from Vedanta, and Vatech Wabag secured a ₹380 crore water reuse project in Bengaluru. L&T Technology Services won a $60 million software engineering engagement from a Tier-I US telecom provider, and Nibe entered a technical collaboration with Israel's Elbit Systems for the PULS rocket system. Godrej Industries' aerospace unit signed a strategic manufacturing deal with Pratt & Whitney for supplying precision aircraft components. Zydus Lifesciences received tentative USFDA approval for a generic version of Ibrutinib tablets. Realty and infra updates Brigade Enterprises launched its premium residential project 'Brigade Avalon' in Whitefield, Bengaluru, with expected revenue of over ₹1,000 crore. Agi Infra will consider a stock split proposal on August 4, and Royal Orchid Hotels announced its fifth property in Mysore under the Regenta Resort Tropical Villages brand. NTPC Green signed an MoU with Bihar State Power Generation for renewable and battery storage projects, while Jayant Infratech won a ₹34 crore EPC contract for rail electrification in Assam. Positive earnings Several companies reported robust Q1 FY26 results: SAIL: Net profit at ₹744 crore vs ₹81.7 crore; revenue at ₹25,921 crore vs ₹23,997 crore (YoY). Lodha Developers: Net profit at ₹675 crore vs ₹475 crore; revenue at ₹3,492 crore vs ₹2,847 crore. Orient Cement: Net profit rose sharply to ₹201 crore vs ₹36.7 crore; revenue at ₹870 crore vs ₹701 crore. ACME: Net profit at ₹131 crore vs ₹1.4 crore; revenue at ₹511 crore vs ₹310 crore. Affle: Net profit at ₹105 crore vs ₹86 crore; revenue at ₹620 crore vs ₹519 crore. Premier Energies, Tata Chemicals, SG Mart, Schaeffler India and Omax Autos also posted strong YoY growth. Financial sector highlights Kotak Mahindra Bank reported Q1 net profit of ₹3,281.7 crore, slightly below estimates (poll: ₹3,442 crore). NII stood at ₹7,259.3 crore. Bank of Baroda exceeded expectations with net profit at ₹4,541 crore and NII at ₹11,435 crore. SBI Cards, IDFC First Bank, J&K Bank, TMB, Poonawalla Fincorp and Indian Overseas Bank also announced results, largely in line with estimates. Neutral to negative developments TCS announced plans to cut 2% of its global workforce over the course of FY26. Crisil was penalised ₹8 crore in a GST-related case on export services. Dr. Reddy's invested ₹565.4 crore in its Russia subsidiary, increasing its stake to 45.19%. On the earnings front, New Delhi Television Ltd (NDTV) reported a wider loss of ₹70.31 crore YoY, while CDSL, Petronet LNG, Zen Technologies, and Suraj Estate posted lower profits. Balkrishna Industries reported a steep decline in net profit to ₹288 crore from ₹490 crore, and Prataap Snacks saw its profit slump to ₹0.7 crore vs ₹9.4 crore YoY. CG Power received a ₹468 crore tax demand order from the Income Tax Department. Corporate and regulatory updates Menon Bearings declared an interim dividend of ₹2/share (record date: July 31). IndusInd Bank will appoint a new MD & CEO by August 28. Sona BLW clarified that former shareholder Rani Kapur hasn't held shares since 2019. Several stocks like Aurionpro , BASF , Wipro , CRISIL , and DLF are trading ex-dividend in the coming sessions. Changes in ASM and circuit filters: Datamatics, IEX, and Force Motors added to ASM; V2 Retail, Vadilal, and Magellanic excluded. Disclaimer: This article is based solely on publicly available company disclosures and stock exchange filings. It is not a recommendation to buy or sell any security. Please consult a qualified financial advisor before making any investment decisions. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]
Business Upturn
4 days ago
- Business
- Business Upturn
JSW Energy signs first FDRE power purchase agreement with SECI for 230 MW project
By Arunika Jain Published on July 25, 2025, 08:50 IST JSW Energy Limited, through its wholly owned subsidiary JSW Neo Energy, has signed its first Power Purchase Agreement (PPA) under the SECI-FDRE Tranche IV scheme with the Solar Energy Corporation of India (SECI) for a 230 MW Firm and Dispatchable Renewable Energy (FDRE) project. The agreement has a tenure of 25 years at a tariff of ₹4.98/kWh, and is JSW Energy's first step into the load-following FDRE space, marking a significant milestone in its renewable energy strategy. With the addition of this agreement, the company's under-construction capacity has reached 12.9 GW, bringing its total locked-in generation capacity to 30.2 GW. JSW Energy reiterated its goal of achieving 30 GW of installed generation capacity and 40 GWh of energy storage by 2030, staying aligned with India's renewable energy transition targets. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, commented, 'This milestone underscores JSW Energy's commitment to provide advanced and tailored energy solutions that address the dynamic requirements of our offtakers. With this project, we are strengthening our energy products and services offering while supporting the country's energy transition goals.' JSW Energy is among India's leading private power producers, operating across the power value chain with diversified assets in generation and transmission. The company has evolved from a 260 MW thermal base in 2000 to a robust and geographically diverse capacity of over 12.8 GW today. Disclaimer: This article is based on information from a regulatory filing and official press release by JSW Energy dated July 25, 2025. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]
Business Upturn
4 days ago
- Business
- Business Upturn
SBI Life share: CLSA sees 20% upside on strong VNB margin and improving product mix
CLSA bullish on SBI Life, margin expands to 27.4% in Q1, target set at ₹2,180 By Arunika Jain Published on July 25, 2025, 08:01 IST Last updated July 25, 2025, 08:05 IST CLSA has maintained an Outperform rating on SBI Life Insurance, assigning a target price of ₹2,180, which implies an upside of nearly 20% from the current market price of ₹1,817.00. The brokerage highlighted that SBI Life delivered a strong performance in Q1FY26, marked by a robust Value of New Business (VNB) margin of 27.4%, an improvement of 60 basis points year-on-year. The margin expansion was primarily driven by a favourable product mix, particularly a shift away from Unit-Linked Insurance Plans (ULIPs) toward higher-margin protection and non-par products. CLSA noted that while Annualized Premium Equivalent (APE) growth for the quarter stood at 9% YoY, it was partially dragged down by a flat performance in the agency channel. Despite this, management remains confident of achieving mid-teens APE growth for FY26, underpinned by channel diversification and better productivity. SBI Life continues to benefit from its strong distribution footprint, robust parentage, and improved product profitability, CLSA added. Disclaimer: The views expressed in this article are those of the brokerage firm (CLSA) and do not constitute investment advice. Investors are advised to consult a certified financial advisor before making any investment decisions. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]
Business Upturn
5 days ago
- Business
- Business Upturn
Mukand shares jump 12% after Rs 673 crore land sale agreement in Thane
By Arunika Jain Published on July 24, 2025, 09:31 IST Shares of Mukand Ltd surged nearly 12% in early trade on Thursday to ₹152.02, following the company's announcement that it has signed an agreement to sell land parcels in Kalwe and Dighe, Thane for a total consideration of approximately ₹673 crore. The stock opened at ₹141.49 and rallied to an intraday high of ₹162, before trading near ₹152 at 9:20 am. This compares to the previous close of ₹135.75. Trading volumes were robust, with over 7 lakh shares changing hands on the NSE. Mukand informed the stock exchanges that the agreement for sale was executed on July 23, 2025, with AGP DC Infra Private Limited for around 17.77 acres of land, including a 50% undivided share in an access road and non-exclusive rights over an additional 0.16-acre parcel. The sale price has been fixed at no less than ₹86,980 per sq. metre, and the company has already received an advance payment of ₹110 crore. The transaction is subject to regulatory approvals, fulfilment of certain conditions precedent, and due diligence by the buyer. Mukand clarified that this land sale will not impact its operations and does not constitute a sale of an undertaking under Section 180(1)(a) of the Companies Act, 2013. The proceeds are expected to help the company unlock value from non-core assets and support its financial strategy, though the exact impact on earnings will depend on the final valuation and completion timeline. This land monetisation move has been well received by the market, pushing Mukand's stock close to its 52-week high of ₹188.20. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]
Business Upturn
5 days ago
- Business
- Business Upturn
Dr Reddy's stock: CLSA, Jefferies recommend sell, Morgan Stanley says hold — here's why
By Arunika Jain Published on July 24, 2025, 08:40 IST Top brokerages have delivered a mixed outlook on Dr. Reddy's Laboratories following its Q1FY26 results. While Jefferies and CLSA retained their Underperform ratings citing concerns over U.S. business momentum and gRevlimid tapering, Morgan Stanley maintained an Equal-Weight stance with a ₹1,298 target. CLSA: Cautious on U.S. growth taper CLSA kept an Underperform rating with a target of ₹1,120, saying Q1 earnings were in line with estimates. However, it expects the U.S. base business to be flat or grow at low single digits, and noted that gRevlimid sales could start tapering from Q3FY26. The potential launch of Semaglutide in Canada and India may partly offset this slowdown, CLSA added. Jefferies: Q1 miss, watching key launches Jefferies also retained an Underperform rating with a lower target of ₹1,100, citing a Q1 miss due to a decline in U.S. sales, particularly gRevlimid and the base business. SG&A and R&D expenses stayed elevated. However, Jefferies is watching two key pipeline catalysts: the approval of gOzempic in Canada and U.S. filing for Abatacept, which it believes could meaningfully contribute to revenue if launched on time. Morgan Stanley: Balanced view Morgan Stanley took a more neutral stance with an Equal-Weight rating and a target price of ₹1,298. It noted that Q1 revenue grew 11% YoY, but gross margins declined due to higher price erosion and lower operating leverage. EBITDA was in line, while PAT rose 2% YoY. Morgan Stanley believes the risk-reward remains balanced. Disclaimer: The brokerage views expressed above are solely those of the respective firms. This article does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Ahmedabad Plane Crash Arunika Jain, a graduate in Mass Communication, brings a fresh perspective to the world of journalism. Arunika has a passion for writing finance and corporate news at You can write to her at [email protected]
