🇮🇳 India Daybook: Bajaj Finance Posts 26.5% AUM Surge, DMart Revenues Jump 18%

📍 BUSINESS UPDATES

• Bajaj Finance: Reported strong momentum in its Q2 business update, with Assets Under Management (AUM) jumping 26.5% year-on-year to ₹5.85 lakh crore. The non-bank lender's customer franchise grew 16.5% YoY to 12.89 crore, while new loans booked rose 11% YoY to 1.35 crore.
• Avenue Supermarts (DMart): Logged an 18.4% YoY growth in standalone revenue from operations to ₹19,206 crore for the second quarter. The grocery retailer expanded its footprint to a total store count of 518 as of September 30.
• Tata Motors (JLR): Jaguar Land Rover posted a 24.5% YoY surge in Q2 wholesale volumes to 82,400 units, reflecting a solid operational rebound from the previous year's cyber disruptions. Retail sales, however, declined 7.5% YoY to 79,000 units.
• OnEMI Technology Solutions: Highlighted robust demand in its Q2 update, as registered users increased 32.6% YoY to 7.95 crore and AUM soared 68.4% YoY to ₹9,317 crore, up 16.4% on a sequential quarterly basis.
• Sai Silks (Kalamandir): Clocked a Q2 revenue of ₹434 crore compared to ₹444 crore in the year-ago period, while adding two new retail stores across Karnataka and Andhra Pradesh.

📍 M&A / INVESTMENTS

• Wipro: Officially closed the transaction to acquire select customer contracts from US-based Alpha Net Consulting, consolidating the business into its portfolio.
• Gland Pharma: Approved an investment of $21 million (~₹183 crore) into wholly owned subsidiary Gland Pharma USA to acquire a 60% stake in Novelstar, establishing Novelstar as a step-down subsidiary.

📍 MANAGEMENT CHANGES

• HDFC Bank: Market focus remains on senior leadership transition following the board's appointment of former ICICI veteran Anup Bagchi to helm the bank as Managing Director & CEO.
• B.L. Kashyap & Sons: Shareholders cleared the reappointment of Vinod Kashyap as Whole-Time Director & Chairman of the construction company.

📍 REGULATORY & LEGAL

• Deepak Fertilisers and Petrochemicals Corporation: Received an administrative warning and advisory letter from the Securities and Exchange Board of India (SEBI) concerning undisclosed investments and corporate guarantees extended to subsidiaries, as well as select litigations above materiality thresholds.
• Allied Blenders & Distillers: The sole arbitrator dismissed the company’s whisky supply dispute against the Canteen Stores Department (CSD), citing the absence of an enforceable arbitration agreement.

📍 OPERATIONAL TARGETS

• Coal India: Targeted total coal production of 815 million tonnes (MT) and off-take of 850 MT for FY27. The company noted that domestic supply dispatches to the power sector rose 10.63% YoY during the second quarter.

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