🇮🇳 India Daybook: Tata Power Surges on Robust Q2 and ₹11,871 Cr Capex, Bajaj Finance Opens QIP

📍 EARNINGS & FINANCIAL RESULTS

• Tata Power: Consolidated net profit rose 48.6% year-on-year to ₹1,366 crore for the July–September quarter (Q2 FY27), up from ₹919 crore a year earlier, driven by strong operational performance and a one-time gain of ₹119 crore. Revenue from operations climbed 26.3% YoY to ₹19,636 crore.
• Cupid: Delivered a robust quarter with consolidated net profit jumping 133% YoY to ₹56.2 crore compared to ₹24.1 crore in the year-ago period. Revenue expanded 122.8% YoY to ₹188 crore. The board also approved the conversion of 56 lakh warrants into Baazar Style Retail shares.
• Mishra Dhatu Nigam (Midhani): Consolidated net profit surged 114.8% YoY to ₹27.84 crore against ₹12.96 crore in Q2 FY26. Revenue from operations increased 41% YoY to ₹296 crore, while EBITDA grew 54.3% to ₹50.3 crore.
• Hindustan Copper: Consolidated net profit increased 47.3% quarter-on-quarter to ₹520 crore versus ₹353 crore in the preceding quarter. Revenue rose 25.4% QoQ to ₹1,175 crore, with EBITDA margins expanding to 59.9%.
• National Fertilizers: Posted a turnaround net profit of ₹6 crore for Q2 FY27 compared to a net loss of ₹36 crore in the corresponding period of the previous year, despite revenue declining 13.9% YoY to ₹5,814 crore.
• Triveni Turbine: Consolidated net profit fell 41.6% YoY to ₹53.3 crore compared to ₹91.2 crore a year ago. Revenue slipped 3% YoY to ₹491 crore, with EBITDA dropping 44.8% to ₹63.1 crore.

📍 CAPITAL RAISING & FUNDING

• Bajaj Finance: The non-banking financial major announced the launch of its Qualified Institutions Placement (QIP), fixing a floor price of ₹992.25 per equity share. The company indicated it may offer a discount of up to 5% on the floor price.
• Aegis Logistics: Opened its QIP offering with the floor price determined at ₹1,161.85 per share to support ongoing infrastructure expansions.
• Vintage Coffee and Beverages: Board approved the allotment of 39 lakh convertible warrants to members of the promoter group at an issue price of ₹164 per warrant.

📍 ACQUISITION & CORPORATE RESTRUCTURING

• Alivus Life Sciences: Executed a formal Shareholders' Agreement with IQGEN-X Pharma Private Limited following the initial acquisition of a 65.01% controlling equity stake (7,36,096 shares). This forms part of its agreement to acquire a total 76% equity stake in IQGEN-X for ₹9.12 crore.

📍 ORDER WIN

• Time Technoplast: Clinched a new supply contract valued at ₹38 crore for the delivery of composite liquefied petroleum gas (LPG) cylinders.

📍 REGULATORY & COMPLIANCE

• Aurobindo Pharma: The US Food and Drug Administration (US FDA) classified the company’s Seymour manufacturing facility in Indiana as 'Official Action Indicated' (OAI) following an audit conducted between August 17 and August 21 that yielded four inspectional observations.
• Sandur Manganese & Iron Ores: Received Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change to expand its iron ore Run of Mine (RoM) production capacity from 7.85 MTPA to 9.42 MTPA.
• Adani Enterprises: Wholly owned subsidiary Kutch Copper Ltd received the globally recognized Veramark Assurance (formerly Copper Mark) certification, becoming the first copper producer in India to achieve this benchmark for sustainable and responsible ESG production standards.
• Tata Power: Intimated that a Singapore court-appointed Sheriff served notices regarding the attachment of the company's shareholding in two Singapore-based subsidiaries up to an aggregate amount of SGD 830.77 million. The company noted it has already initiated legal appeals before the Singapore Court of Appeal.

📍 MANAGEMENT & STRATEGIC INITIATIVES

• Tata Power: The board approved a capital expenditure investment of ₹11,871 crore toward establishing an 1,800 MW pumped storage project to bolster firm green power capacity. Additionally, Sanjay Banga was appointed as CEO-designate, scheduled to take over as Managing Director and CEO for a five-year term effective May 1, 2027.
• Jeena Sikho Lifecare: Expanded its presence in the preventive wellness market by launching 10 new Ayurvedic healthcare and wellness products.