🇮🇳 India Daybook: L&T Bags Bullet Train Track Order, Infosys Unveils Mega Buyback Plan

📍 ORDER WIN

• Larsen & Toubro (L&T) secured a "large" order, valued between ₹2,500 crore and ₹5,000 crore, from the National High Speed Rail Corporation (NHSRCL). This contract involves the construction of 156 route kilometers of high-speed ballastless track (Package T1) for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Corridor. This marks L&T's second track-work package win in the MAHSR project, making the company responsible for over 50% of the total track-works.

• Adani Enterprises received a Letter of Award (LoA) from National Highways Logistics Management Ltd (NHLML) for building a 12.9-kilometer ropeway project connecting Sonprayag with Kedarnath in Uttarakhand. The ₹4,081 crore project, to be developed under a Public-Private Partnership (PPP) model, is expected to reduce the arduous 8-9 hour trek to just 36 minutes and will be operated by Adani Enterprises for 29 years after a six-year construction period.

📍 CORPORATE ACTIONS

• Infosys announced its largest-ever share buyback, totaling ₹18,000 crore. The company plans to repurchase up to 10 crore equity shares, representing 2.41% of its total paid-up capital, at a price of ₹1,800 per share, offering a 19% premium over its closing price on September 11, 2025. The buyback will be conducted through a tender offer route.

• Godfrey Phillips India traded ex-bonus on September 16, 2025, for its 2:1 bonus share issue, meaning eligible shareholders will receive two new shares for every one held.

• GHV Infra Projects traded ex-bonus for a 3:2 bonus issue and ex-split for a stock split from a face value of ₹10 to ₹5, with both corporate actions having a record date of September 16, 2025.

• Ex-Dividend Stocks: A total of 22 companies traded ex-dividend on September 16, 2025.

  • Balmer Lawrie & Company declared the highest dividend of ₹8.50 per share.
  • Dixon Technologies (India) announced a dividend of ₹8 per share.
  • Karnataka Bank offered a final dividend of ₹5 per share.
  • Other companies trading ex-dividend included Aarti Surfactants, Agarwal Industrial Corporation, Aeonx Digital Technology, Amrutanjan Health Care, Axis Solutions, Balmer Lawrie Investments, Deccan Cements, J. Kumar Infraprojects, Lancor Holdings, Linc, Nikhil Adhesives, Orient Ceratech, Prakash Pipes, Sodhani Academy of Fintech Enablers, Sigachi Industries, Skipper, Southern Petrochemicals Industries Corporation, United Drilling Tools, and Vadilal Enterprises.

📍 BUSINESS DEVELOPMENTS

• Tata Motors significantly expanded its electric vehicle (EV) ecosystem, announcing that over 25,000 public charging stations are now available for its electric small commercial vehicle (SCV) customers across more than 150 cities. The company also signed Memorandums of Understanding (MoUs) with 13 leading Charging Point Operators (CPOs) to establish an additional 25,000 public chargers over the next 12 months.

• Reliance Industries Group companies successfully raised approximately ₹210 billion ($2.4 billion) through asset-backed securities, marking one of the largest such deals in India this year. The issuance saw strong demand from major asset managers, leading to an upsizing of the transaction from the initially planned ₹180 billion.

📍 MARKET TRENDS

• Indian benchmark equity indices, the Nifty 50 and BSE Sensex, closed marginally lower on September 15, snapping an eight-day winning streak. This decline was attributed to profit-taking in IT and auto shares as investors adopted a cautious stance ahead of the US Federal Reserve's policy meeting.
• Despite the dip in frontline indices, broader markets outperformed, with the Nifty Midcap 100 rising 0.44% and the Nifty Smallcap index advancing 0.76%, indicating sustained interest in the broader universe.

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