🇮🇳 India Daybook: Prudential Bags Bharti Life Stake, Tata Electronics Partners with ASML for Chip Fab

📍 ACQUISITION

• Prudential: The global insurance giant is set to acquire a 75% stake in Bharti Life for ₹3,500 crore, marking a major consolidation in the Indian life insurance sector.
• Tata Electronics: Entered a landmark partnership with Dutch firm ASML to build India's domestic chip-manufacturing capabilities for its upcoming 300mm semiconductor foundry in Gujarat.

📍 EARNINGS

• United Spirits: Reported a 28% YoY rise in consolidated net profit to ₹539 crore for Q4FY26, supported by a 5% volume growth in the premium 'Prestige & Above' segment.
• Carborundum Universal: The company posted a 13% YoY increase in revenue to ₹1,380 crore for the final quarter of FY26.
• Shadowfax Technologies: Witnessed a massive 73.6% YoY jump in Q4 revenue, reaching ₹1,237 crore, driven by e-commerce logistics demand.
• Tata Steel & SAIL: Both steel majors are in focus today following reports of robust profit growth in their latest quarterly updates.

📍 ORDER WIN

• HFCL: Secured a new overseas order for telecom solutions, continuing its expansion into international markets.

📍 CAPEX & EXPANSION

• Hero MotoCorp: The company has earmarked ₹1,500 crore in capital expenditure for FY27 to double its scooter production capacity and an additional ₹700 crore for a global parts center.
• Hindustan Zinc: Unveiled a strategic roadmap to generate ₹2,000 crore in additional value by implementing AI-driven solutions across its mining and manufacturing operations.

📍 REGULATORY & OTHERS

• NSE: The National Stock Exchange has finally received regulatory clearance to begin preparations for its long-awaited Initial Public Offering (IPO).
• Dr. Reddy’s Laboratories: Announced the launch of its generic version of the diabetes medication Semaglutide in the Canadian market.
• Coal India: Received formal approval for the proposed listing of its subsidiary, Mahanadi Coalfields Limited (MCL).

📍 CORPORATE ACTIONS

• Onward Technologies: Shares will trade ex-date today, May 18, for the company's proposed buyback of equity shares.
• AVG Logistics: The board has approved the terms for a rights issue of up to 36.5 lakh shares at ₹145 per share, with a record date set for May 21.
• Man Infraconstruction: The stock will trade ex-dividend today for its interim dividend of ₹0.72 per share.

TAGS: India Daybook, Stocks in News, Corporate News, Stock Market, Company News

Tags: India Daybook Stocks in News Corporate News Stock Market Company News