🇮🇳 India Daybook: Kwality Wall’s Debuts on Exchanges; Religare to Demerge Finvest

📍 LISTING

• Kwality Wall's (India): The demerged ice-cream business of Hindustan Unilever (HUL) will debut on the BSE and NSE today, February 16. The exchanges have approved the listing of approximately 234.96 crore equity shares, following the formal completion of the portfolio break-up.

📍 CORPORATE RESTRUCTURING

• Religare Enterprises: The company’s board has officially cleared a demerger plan to split its operations into two separate entities: Religare Enterprises and Religare Finvest. The decision follows recommendations from the Audit and Governance Committee to unlock value for shareholders.

📍 ORDER WIN

• Garden Reach Shipbuilders & Engineers (GRSE): The state-run defense company has commenced the construction of two Coastal Research Vessels for the Geological Survey of India. A steel-cutting ceremony was held to mark the start of the project, which aims to bolster India's coastal research capabilities.

📍 EARNINGS

• KFin Technologies: The company reported a 2.2% year-on-year rise in net profit to ₹92 crore for the December quarter. Revenue from operations surged 28% to ₹370.8 crore, although EBITDA margins saw a slight compression to 40.9%.
• Manappuram Finance: Reported a consolidated net profit of ₹381 crore for Q3 FY26, down 15.9% compared to the previous year. Despite the profit dip, revenue from operations grew by 6.5% to ₹1,915.35 crore.
• Stocks in Focus: Ola Electric Mobility, Torrent Pharmaceuticals, and Siemens Energy India are expected to see significant price action today as investors react to their latest quarterly performance reports.

📍 REGULATORY & LEGAL

• Manappuram Finance: The Reserve Bank of India (RBI) has granted approval for Bain Capital affiliates to acquire up to a 41.66% stake in the company. The deal includes a preferential allotment and a mandatory open offer at ₹236 per share.
• Hindustan Copper: The state-owned miner has been served a demand notice of ₹929.40 crore by the District Mining Officer in Jharkhand regarding alleged dues. The company is expected to evaluate legal options to contest the claim.
• Banking Sector: Several commercial banks will be under watch today following reports of the RBI imposing monetary penalties for various regulatory non-compliances.

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