🇮🇳 India Daybook: TCS Kicks Off Q4 Results, Lupin Gets USFDA Nod

📍 EARNINGS TODAY

• Tata Consultancy Services (TCS): The IT giant will kick off the Q4FY26 earnings season today. Analysts expect a 4% sequential revenue growth, potentially its highest in nine quarters, driven by rupee depreciation. The board will also consider a final dividend for the fiscal year.

📍 ORDER WIN

• KEC International: Secured new orders worth ₹2,518 crore across its civil, transportation, transmission & distribution (T&D), and cables businesses.
• Larsen & Toubro (L&T): Emerged as the lowest bidder (L1) for a massive infrastructure package valued at ₹22,500 crore, involving projects for NTPC and DVC.
• BHEL: Named the lowest bidder for a ₹10,300 crore expansion project for the Odisha Genco Thermal Power Station.

📍 USFDA APPROVAL

• Lupin: Received USFDA approval for its Abbreviated New Drug Application (ANDA) for Dapagliflozin and Metformin Hydrochloride extended-release tablets (generic Xigduo XR) and Dapagliflozin tablets (generic Farxiga).
• Zydus Lifesciences & Biocon: Also in focus following recent FDA nods for generic versions of anti-diabetic medications, strengthening their US portfolios.

📍 ACQUISITION

• Max Healthcare: Entered into a share purchase agreement to acquire a 58.4% controlling stake in Kalinga Hospital, Odisha, for an equity value of ₹300 crore.

📍 CORPORATE NEWS

• Adani Group: Stocks remain in focus after a US district court allowed Gautam Adani to schedule a hearing to seek the dismissal of an SEC civil fraud case. Separately, the group committed ₹33,081 crore toward infrastructure projects in Odisha, including a thermal power plant and a data center.
• HDFC Bank: The RBI Governor stated that recent supervisory inspections found no governance or conduct-related issues at the bank. The lender also implemented a 5-basis point reduction in its short-term MCLR.
• Reliance Industries (RIL) & OMCs: Downstream companies like HPCL, BPCL, and RIL are expected to gain as crude oil prices crashed nearly 14% following a two-week ceasefire agreement between the US and Iran.
• Ola Electric: Announced that its new Lithium Iron Phosphate (LFP) cells (46100 format) are production-ready. The new battery technology is expected to be integrated into Ola products starting next quarter to reduce costs.
• Exporters (Macro): A 26% reciprocal tariff on certain Indian goods announced by the US becomes effective today. While IT services remain exempt, specialty pharma and auto component exporters are being closely monitored for impact.

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