🇮🇳 India Daybook: GRSE Inks Mega ₹32,000 Cr Navy Deal, NBCC Bags Patna Redevelopment MoUs

📍 ORDER WINS & CONTRACTS

• Garden Reach Shipbuilders & Engineers (GRSE): Signed a major contract valued at ₹32,000 crore with the Indian Navy for the construction of five next-generation corvettes.
• NBCC (India): Inked Memorandums of Understanding (MoUs) with various departments of the Government of Bihar for four redevelopment projects in Patna under Phase-I, with anticipated sale and lease proceeds of ₹5,152 crore and a tentative cost of ₹2,000 crore. Additionally, the company bagged two domestic orders worth ₹70.50 crore from Oil India (OIL) and Hindustan Aeronautics (HAL).

📍 EARNINGS REACTION

• Marico: Reported a 31% YoY surge in Q2 consolidated net profit to ₹550 crore, supported by robust volume expansion; revenue from operations climbed 13% YoY to ₹3,897 crore.
• ITC: Posted a 20.1% YoY decline in Q2 consolidated net profit to ₹4,137 crore amid margin pressures in its core cigarette business. Revenue rose 1.8% YoY to ₹18,401 crore, while EBITDA margin contracted 660 bps to 28%.
• Petronet LNG: Standalone net profit for Q2 increased 9.1% sequentially to ₹1,235.4 crore, driven by a 29.6% QoQ rise in revenue from operations to ₹7,200 crore.
• Trident: Q2 consolidated net profit jumped 93.4% YoY to ₹176 crore. EBITDA rose 46.7% YoY to ₹314 crore, with margins expanding to 18.3% compared to 12% a year ago.
• VRL Logistics: Recorded a 106% YoY surge in quarterly net profit, buoyed by solid volume gains across key freight segments.

📍 CAPEX & EXPANSION

• Trident: Approved an investment of ₹106 crore to establish a new yarn manufacturing unit in Madhya Pradesh and announced plans to set up a 60 MW hybrid renewable energy project.
• Nelcast: Board greenlit a capacity expansion project at its Ponneri facility, raising output from 40,000 TPA to 60,000 TPA, slated to become operational by January 2027.

📍 STAKE SALE & CORPORATE ACTIONS

• Sri Lotus Developers and Realty: Promoter Anand Kamalnayan Pandit announced an Offer for Sale (OFS) of up to 2.38 crore shares (a 4.87% stake) on November 3–4 at a floor price of ₹240 per share to meet SEBI's minimum public shareholding requirements.
• VRL Logistics: Commences its ₹40 crore share buyback program at ₹58 per share on November 3.

📍 PRODUCT LAUNCHES & INNOVATION

• E2E Networks: Rolled out 'Blaze', a specialized pay-per-token inference platform engineered to accelerate high-demand enterprise AI workloads.