Beat the Street Bulletin

ORDER WINS

HCC: Secures ₹2,566 crore Patna Metro contracts for underground tunnels and stations.

Dilip Buildcon: Wins ₹1,115 crore Kerala Industrial Corridor project via DBL-PSP JV.

Sahana Systems: Subsidiary Softvan secures ₹16.42 crore RailTel AI-powered solutions order.

ACQUISITION

Indian Hotel: Acquires ₹100.…[Read more]

Corporate Updates

• Godrej Industries – Approved allotment of NCDs worth ₹400 crore each under Series 1 and Series 2.

• KEC International – Secured orders worth ₹3,243 crore in international T&D business; YTD order intake now ~₹11,700 crore.

• KFin Technologies – Denied media reports of General Atlantic planning to offload 10–15% stake at 5…[Read more]

Spotlight: India’s Transmission Titans

Top 11 companies together hold a ₹1.46 lakh crore order book — driving power infrastructure growth.

Hitachi Energy India – ₹29,135 Cr
• Market leader in high-voltage transmission & smart grids.
• Strong global tech backing, EPC execution, renewable integration focus.

Kalpataru Projects – ₹26,725 Cr
• Le…[Read more]

Market Outlook – September 2025

Economy & Earnings
• Despite GST cuts and festive demand, the economy faces a white-collar employment crisis.
• Just 40 million high earners support 200+ million dependents, straining consumption.
• US tariffs (50%) continue to weigh on exports; tax cuts offset only ~50% of this damage.
• Nifty earnings, which dip…[Read more]

Fund House Recommendations – 23 September 2025

Nomura on Hyundai – Buy maintained, Target Price: ₹2,846/share (Positive)

Jefferies on Patanjali – Buy maintained, Target Price raised to ₹695/share (Positive)

Jefferies on Vishal Mega Mart – Buy maintained, Target Price: ₹175/share (Positive)

Citi on Shree Cement – Buy maintained, Target Price: ₹…[Read more]

Corporate Highlights | 22 September 2025

• Swan Defence & Heavy Industries: Signed MoU with Gujarat Maritime Board for a ₹4,250 Cr investment to expand Pipavav shipyard facilities (slipway, jetties, cranes, dredging).

• Shipping Corporation of India (SCI): Partnered with BPCL, HPCL, IOCL to jointly acquire, own, and operate vessels for inter…[Read more]

Fund Houses’ Recommendations (22 Sept 2025)

Autos & Mobility
• Maruti (Nuvama): Buy, TP ₹18,200 (Positive)
• TVS Motor (Nuvama): Buy, TP ₹4,100 (Positive)
• M&M (Nuvama): Buy, TP ₹4,200 (Positive)
• Hero MotoCorp (Nuvama): Buy, TP ₹6,200 (Positive)
• Eicher & Bajaj Auto (Nuvama): Downgrade to Hold (Neutral)
• Hyundai (Goldman Sachs): Neut…[Read more]

Fund House & Brokerage Calls

Adani Group

• MS on Adani Power: Initiate Overweight, TP ₹818. Sees 2.5x capacity & 3x EBITDA rise by FY33; new coal PPAs to improve earnings visibility.

• Jefferies on Adani Green: Buy, TP ₹1,300. Capacity expansion to 50 GW by 2030; 4.5–6.3 GW additions in FY26–27; valuations ~63% below peak multiples.…[Read more]

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 credent…[Read more]

Global Policy Signals: Fed Rate Cut and Implications for India and Emerging Markets

The U.S. Federal Reserve’s recent 25 bps rate cut marks the start of an easing cycle, reflecting concerns over slowing labor markets and persistent inflation pressures. Chair Jerome Powell emphasized that future policy decisions remain data-dependent, h…[Read more]

Buy-side call with the Management of Interarch Building Solutions

Date & Time 18th Sept @ 12:30PM.

Registration Link:
https://us06web.zoom.us/meeting/register/4Ef2dozaRy6OyiqveWVZQA

Management Representatives
1) Mr. Arvind Nanda (Managing Director)
2) Mr. Viraj Nanda (Executive Director)
3) Mr. Anil Chandani – President (Corporate Finance & S…[Read more]

VRIGHT Exchange | Daily Corporate Action & Market Report

Market View

• GIFT Nifty (Sept 18, 8:10 am IST): +84 at 25,498.

• Nifty Trend: Bullish, supported by Fed’s 25 bps rate cut and expectations of two more cuts in 2025.

• Upside Levels: 25,500 / 25,670; Aggressive 25,900–26,250.

• Bank Nifty (55,493): Buy at CMP; targets 55,700 / 56,100;…[Read more]

Corporate & Stock Updates

Block Deal Alert – Gujarat Fluorochemicals

• Promoter entity Devansh Trademart LLP sold up to 13 lakh shares at ₹3,500/share (5.3% discount to last close of ₹3,695.70).

• Deal size: ~₹420 crore (~$51.7 mn).

• Promoter holding: 63.58% (pre-trade). Lock-up: 60 days.

Investor View: Neutral to mildly negative in n…[Read more]

Fund House Recommendations – September 15, 2025

Alcobev Sector – Structural Premiumisation Play

• Radico Khaitan (Jefferies: Buy, TP ₹3,500)
Premiumisation in IMFL portfolio and consistent market share gains position Radico as a long-term compounding story.

VRIGHT View: Beneficiary of premium liquor demand, especially in Tier-1/Tier-2 cities.…[Read more]

VRIGHT Exchange — Stocks to Watch

Date: Monday, 15 September 2025

Healthcare & Pharma

• Apollo Hospitals will acquire IFC’s 31% stake in Apollo Health & Lifestyle Ltd for ₹1,254 crore, raising its holding to 99.42% (CCI nod awaited).

Deepens control over a high-growth subsidiary and expands retail healthcare play.

• Dr Reddy’s Laboratorie…[Read more]