SANDEEP KALRA, PERSISTENT SYSTEMS SAYS
To Decide Fund Raise Amount And Debt-Equity Mix After Nagarro Offer Closes Oct 7
Original Plan 100% Debt Via $1.4 Bn Barclays Bridge Facility For Nagarro
FCCB Gives Cheaper Near-term Cost Of Capital, Full $450 m QIP Would Be <5% Dilution
Aim To Reduce Net Debt/EBITDA From 1.5-1.6x To 1x Within 2-3 Years
Aspire For Combined Growth To Normalise To Mid-teens Or Higher Over 2-3 Years
To Decide Fund Raise Amount And Debt-Equity Mix After Nagarro Offer Closes Oct 7
Original Plan 100% Debt Via $1.4 Bn Barclays Bridge Facility For Nagarro
FCCB Gives Cheaper Near-term Cost Of Capital, Full $450 m QIP Would Be <5% Dilution
Aim To Reduce Net Debt/EBITDA From 1.5-1.6x To 1x Within 2-3 Years
Aspire For Combined Growth To Normalise To Mid-teens Or Higher Over 2-3 Years
SUNIL TIRUMALAI, UBS INDIA SAYS
Continue To Maintain A Cautious Stance On India
Consensus Expects 25-26% Growth In EMs Over Next 2 Yrs, Skewed Heavily By Korea & Taiwan
EM Earnings Growth Estimates Excluding Korea & Taiwan Is 18-19% Vs India At 16-17%
India Offers Diversification As Other Markets Chase Al
Most Worrying Is The US Fiscal Deficit Coinciding With Rising Borrowing By Al Hyperscalers
Continue To Maintain A Cautious Stance On India
Consensus Expects 25-26% Growth In EMs Over Next 2 Yrs, Skewed Heavily By Korea & Taiwan
EM Earnings Growth Estimates Excluding Korea & Taiwan Is 18-19% Vs India At 16-17%
India Offers Diversification As Other Markets Chase Al
Most Worrying Is The US Fiscal Deficit Coinciding With Rising Borrowing By Al Hyperscalers
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SUMEET JAIN, CLSA INDIA SAYS
Al-driven Deflation Is A Concern For Large Cap IT, Driving Recent Downgrades
Expect 1-3% Dollar Revenue Growth For Large Cap IT Cos In FY27-28
INR Tailwinds For IT Cos Is Limited In The Near-term Due To FCNR(B) Deposits
See 10-15% Al Deflation, In Some Cases 30-40% In Large Deals
Current Fall In Coforge Indicates A Buying Opportunity
Al-driven Deflation Is A Concern For Large Cap IT, Driving Recent Downgrades
Expect 1-3% Dollar Revenue Growth For Large Cap IT Cos In FY27-28
INR Tailwinds For IT Cos Is Limited In The Near-term Due To FCNR(B) Deposits
See 10-15% Al Deflation, In Some Cases 30-40% In Large Deals
Current Fall In Coforge Indicates A Buying Opportunity
KEI IND says
Will able to maintain our market share , Dont expect Competition Impact on biz
UltraTech Entry Will Increase Competition, But We've Established Biz Built Several Decades
Company's Pricing Is The Lowest Among Peers
Will able to maintain our market share , Dont expect Competition Impact on biz
UltraTech Entry Will Increase Competition, But We've Established Biz Built Several Decades
Company's Pricing Is The Lowest Among Peers
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Trump says gas prices will fall to $2 per gallon once US "wins the war" with Iran
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South Korea to give every citizen access to free and "unlimited" generative AI
BHANU BAWEJA, UBS INVESTMENT BANK
Risk Of Oil Prices Rising Significantly From Hereon Still Exists
Need To Be Cognizant That Rate Hikes Have Already Been Priced In
Believe It Is Possible To See Three Rate Hikes If Oil Prices Rise Further
Beginning To See Some Discount Being Demanded Against The Dollar
Rupee Depreciation Is Certainly Not Over Yet
Risk Of Oil Prices Rising Significantly From Hereon Still Exists
Need To Be Cognizant That Rate Hikes Have Already Been Priced In
Believe It Is Possible To See Three Rate Hikes If Oil Prices Rise Further
Beginning To See Some Discount Being Demanded Against The Dollar
Rupee Depreciation Is Certainly Not Over Yet
DILIP BUILDCON – DIVESTS 51% STAKE IN MEKHALI POWER TRANSMISSION
• Divests 51% stake in Mekhali Power Transmission to Alpha Alternatives for ~₹2,914 Cr
• Project cost estimated at ~₹2,171 Cr
• Partnership to fund equity in 51:49 ratio
• Transaction aligns with DBL’s asset-light strategy
• Divests 51% stake in Mekhali Power Transmission to Alpha Alternatives for ~₹2,914 Cr
• Project cost estimated at ~₹2,171 Cr
• Partnership to fund equity in 51:49 ratio
• Transaction aligns with DBL’s asset-light strategy
THERMAX TARGETS 20%+ CHEMICALS GROWTH
DATA CENTRES DRIVE NEW DEMAND FOR THERMAX
DATA CENTRES DRIVE NEW DEMAND FOR THERMAX
ANKIT MAHESHWARI, GR INFRAPROJECTS
Q1 Saw Order Inflows Of ₹500 Cr, Expecting Higher Inflows In Q2/Q3
Expecting Order Inflows Of 20,000 Cr In FY27
Maintain Revenue Growth Guidance At 15-20%
Expect 10-11% Margin On A Standalone Basis In FY27
Order Pipeline Looks Promising, With Visibility Of ₹6 Lk Cr In The Pipeline
₹40,000 Cr Worth Of Bids Have Already Been Made
Q1 Saw Order Inflows Of ₹500 Cr, Expecting Higher Inflows In Q2/Q3
Expecting Order Inflows Of 20,000 Cr In FY27
Maintain Revenue Growth Guidance At 15-20%
Expect 10-11% Margin On A Standalone Basis In FY27
Order Pipeline Looks Promising, With Visibility Of ₹6 Lk Cr In The Pipeline
₹40,000 Cr Worth Of Bids Have Already Been Made
PRESTIGE ESTATES – INCORPORATES 2 NEW WHOLLY-OWNED SUBSIDIARIES 🏢
• Incorporates Southgrove Homes LLP & Parkgrove Realty LLP on September 9, 2026
• Both LLPs will undertake real estate development activities
• Prestige Estates contributes ₹1 lakh for 100% partnership interest in each LLP
• Both entities are yet to commence operations
• Incorporation is a related-party transaction conducted at arm’s length
• Incorporates Southgrove Homes LLP & Parkgrove Realty LLP on September 9, 2026
• Both LLPs will undertake real estate development activities
• Prestige Estates contributes ₹1 lakh for 100% partnership interest in each LLP
• Both entities are yet to commence operations
• Incorporation is a related-party transaction conducted at arm’s length
ONE MOBIKWIK SYSTEMS LIMITED:
CO. EXPANDS FX RETAIL OFFERING TO SIX CURRENCIES INCLUDING AED, CAD, GBP, EUR, AND CHF; ONLY PRIVATE PLAYER TO PROVIDE MULTI-CURRENCY FX SOLUTION IN PARTNERSHIP WITH NPCI.
CO. EXPANDS FX RETAIL OFFERING TO SIX CURRENCIES INCLUDING AED, CAD, GBP, EUR, AND CHF; ONLY PRIVATE PLAYER TO PROVIDE MULTI-CURRENCY FX SOLUTION IN PARTNERSHIP WITH NPCI.
DILIP BUILDCON LIMITED: CO. DIVESTS 51% STAKE IN MEKHALI POWER TRANSMISSION LIMITED TO ALPHA ALTERNATIVES FOR APPROX. INR 2,914 CR; PROJECT COST ESTIMATED AT INR 2,171 CR; PARTNERSHIP TO FUND EQUITY IN 51:49 RATIO; TRANSACTION ALIGNS WITH DBL'S ASSET-LIGHT STRATEGY.
SWISH RAISED 24MLN USD TO EXPAND FOOD DELIVERY BUSINESS IN 100 PLUS CITIES AND BUILD 1000 CLOUD KITCHEN
REDINGTON
Apple iPhone Duo to lift India revenue but price hikes across models to impact sales - Mc
Apple iPhone Duo to lift India revenue but price hikes across models to impact sales - Mc
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STERLING & WILSON RENEWABLES:
LEIGHTON ASIA - CIMIC'S LEIGHTON ASIA AWARDED DATA CENTRE PROJECT IN INDIA; PROJECT TO BE DELIVERED IN JOINT VENTURE WITH STERLING AND WILSON
LEIGHTON ASIA - CIMIC'S LEIGHTON ASIA AWARDED DATA CENTRE PROJECT IN INDIA; PROJECT TO BE DELIVERED IN JOINT VENTURE WITH STERLING AND WILSON