🇮🇳 India Daybook: Torrent Power Inks ₹7,000 Cr L&T Deal; Cochin Shipyard Bags Mega Naval Order

📍 ACQUISITION

• Torrent Power & L&T: Torrent Power has entered into a definitive agreement to acquire L&T’s 1,400 MW Nabha Power plant in Punjab for an enterprise value of ₹6,889 crore. The deal includes ₹3,661 crore in upfront cash and the assumption of ₹3,228 crore in debt, marking Torrent's entry into the Northern Indian power market.
• Macrotech Developers (Lodha): The company has reportedly acquired a majority stake in a significant real estate project in Pune to expand its residential footprint in the region.

📍 ORDER WIN

• Cochin Shipyard: The company has emerged as the lowest (L1) bidder for a Ministry of Defence tender worth approximately ₹5,000 crore. The contract involves the construction of five Next Generation Survey Vessels (NGSVs) for the Indian Navy.
• Gabion Technologies India: The micro-cap firm secured multiple work orders totaling over ₹2 crore in early February for the supply of gabion boxes and rockfall netting to various private developers.

📍 PHARMA PULSE

• Aurobindo Pharma: Its subsidiary, Acrotech Biopharma, received USFDA approval for ADQUEY (difamilast 1% ointment), a novel non-steroidal treatment for mild-to-moderate atopic dermatitis.
• Lupin: The drugmaker has signed a licensing and supply agreement with Spektus Pharma to commercialize its antidepressant drug, DeslaFlex, in the Canadian market.
• Natco Pharma: The stock remains in focus after securing CDSCO approval to manufacture and market generic Semaglutide (injection) in India, with a planned launch in March 2026.

📍 STRATEGIC COLLABORATION

• TCS & AMD: Tata Consultancy Services and AMD have expanded their partnership to co-develop a rack-scale AI infrastructure design based on the AMD “Helios” platform, aimed at supporting India's national AI initiatives.
• Delhivery: The logistics major announced a partnership with electric mobility startup RIDEV to deploy 150 electric vehicles for its last-mile delivery fleet.

📍 CORPORATE ACTION

• Hikal Ltd: Today, February 17, is the Record Date for the company's interim dividend for the financial year 2025-26.
• Coal India: The company has set an ambitious target of 3,000 MW solar capacity by FY28. Its solar-related capital expenditure more than doubled to ₹961 crore as of January FY26.
• IIFL Finance: Managing Director Nirmal Jain announced plans to increase the share of External Commercial Borrowings (ECBs) from 12-13% to 20% over the next year to diversify funding sources.
• Riddhi Steel and Tube: The record date for its 1:2 bonus issue is set for today, February 17.

📍 MARKET DYNAMICS

• Nifty Sectoral Weights: New data shows IT sector weights in the Nifty 50 have declined to 8.7% due to AI-related growth concerns, while Banking and Financials have reached a record high weight of 27.6%.
• RBI Regulation: The Reserve Bank of India has mandated 100% collateral for broker financing and raised equity haircuts to 40%, effective April 1, 2026, which may impact market liquidity in the long term.

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