🇮🇳 India Daybook: Bajel Projects Bags ₹1,700 Cr Order, Mankind Pharma Q2 Profit Jumps 39%

📍 ORDER WINS

• Bajel Projects: Secured significant Engineering, Procurement, and Construction (EPC) orders with an aggregate value exceeding ₹1,700 crore.
• CG Power & Industrial Solutions: Subsidiary GGT received approval from the Research Designs and Standards Organisation (RDSO) for a ₹433 crore Kavach 4.0 railway safety order.
• Sigma Advanced Systems: Bagged an international supply order valued at ₹973 crore from NATO.

📍 EARNINGS REACTION

• Mankind Pharma: Reported a 39.2% year-on-year increase in consolidated net profit to ₹712 crore for Q2, alongside a 17.3% rise in operational revenue to ₹4,338 crore.
• Bank of Maharashtra: Posted a 41.4% year-on-year surge in standalone net profit to ₹2,309.6 crore for the second quarter, up from ₹1,633 crore in the year-ago period.
• Sona BLW Precision Forgings: Delivered strong quarterly performance with net profit rising 29.9% year-on-year to ₹223.4 crore and revenue expanding 35.2% to ₹1,546.4 crore.
• Netweb Technologies: Net profit surged 61% year-on-year to ₹137 crore for the quarter, bolstered by robust demand across AI and high-end computing solutions.
• One97 Communications (Paytm): Recorded a significant turnaround with consolidated net profit jumping tenfold to ₹225 crore as revenue rose 28%.

📍 M&A & STRATEGIC INVESTMENTS

• HCLTech: Completed the acquisition of a 100% equity stake in a specialised Robotic Process Automation (RPA) enterprise to bolster digital operations.
• Varroc Engineering: Approved an investment of up to €4.5 million to acquire a 45% stake in Forsee Power India to expand capabilities in the electric mobility ecosystem.
• Samvardhana Motherson International: Secured approval from NCLT Mumbai for its composite scheme of arrangement.

📍 FUNDRAISING & CAPITAL ACTION

• Persistent Systems: Formally closed its Qualified Institutional Placement (QIP) issue, allotting 76.83 lakh equity shares at an issue price of ₹5,550 per share.

📍 REGULATORY & TAXATION UPDATES

• IRCON International: High Court granted an interim stay on an order concerning a GST demand notice of ₹72.41 crore until the next hearing.
• Aavas Financiers: Secured corporate agent registration from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products.

📍 STRATEGY & EXPANSION

• UltraTech Cement: Reaffirmed strategic expansion roadmap targeting a total grey cement capacity of 242.9 MTPA by FY28, with plans to elevate its green power mix to 85% by FY30.