🇮🇳 India Daybook: Blackstone Inks ₹5,000-Cr Deal With IIFL Finance, Kalyan Jewellers Q2 PAT Surges 64%

📍 FUNDRAISING & DEALS

• IIFL Finance: The board approved a primary capital raise of ₹6,414.20 crore through a preferential issue. Global alternative asset manager Blackstone (via affiliate Ingot SG Pte. Ltd.) is leading the round with a ₹5,000 crore investment via Compulsorily Convertible Preference Shares (CCPS), acquiring an ~15.6% stake on a fully diluted basis. Promoters Nirmal Jain and R. Venkataraman are co-investing ₹1,264 crore via warrants, and Anchorage Capital is contributing ₹150 crore. The capital infusion will lift IIFL Finance's capital adequacy ratio from ~17% to ~30% and accelerate expansion in retail and gold loans.

📍 EARNINGS REACTION

• Kalyan Jewellers India: Reported a 63.6% YoY jump in consolidated net profit to ₹427 crore for Q2 FY27, up from ₹261 crore in the year-ago period. Revenue from operations rose 31.4% YoY to ₹10,323 crore, while EBITDA climbed 29.7% to ₹644.7 crore.
• MRF: Consolidated net profit fell 26.6% YoY to ₹387 crore for Q2 FY27 from ₹527.4 crore in the year-ago period, impacted by a sharp 44% rise in raw material consumption costs (principally natural rubber). Revenue from operations grew 17.4% YoY to ₹8,660.2 crore. The board declared an interim dividend of ₹3 per share.
• Cochin Shipyard: Consolidated net profit for Q2 FY27 halved (down 49.8% YoY) to ₹53.8 crore, compared to ₹107.5 crore a year ago, dragged down by an operating loss in its shipbuilding segment. Revenue from operations rose 11.7% YoY to ₹1,249.2 crore, aided by strong momentum in ship repair. The company declared an interim dividend of ₹3 per share.

📍 ORDER WIN

• Ashoka Buildcon: Received a Letter of Acceptance (LoA) from the National Highways Authority of India (NHAI) for an EPC project worth ₹865.90 crore (excluding GST) for the Vadodara–Mumbai Expressway in Gujarat.
• GPT Infraprojects: Its wholly-owned subsidiary, Alcon Builders and Engineers, emerged as the lowest (L1) bidder for a railway construction and services project valued at ₹103.58 crore awarded by the North Eastern Railway.

📍 MANAGEMENT CHANGE

• Trent: Noel Tata steps down as Chairman on November 11, 2026, upon turning 70, transitioning to the role of Chairman Emeritus, with Bahram Vakil taking over as Chairman.

📍 BROKERAGE RADAR

• Data Patterns (India): Global brokerage firm Jefferies reiterated its 'Buy' rating on the defence electronics player, setting a target price of ₹5,545, implying up to a 47% upside from current levels.