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Shriram Finance Declares ₹6.50/Share Interim Dividend, Approves ₹35,000 Cr NCD Limit
Shriram Finance declared an interim dividend of ₹6.50 per equity share (325% of face value ₹2) for FY 2026-27, with the record date set for October 29, 2026. The payout is scheduled to be completed before November 20, 2026. Concurrently, the Board approved a resource mobilization plan and a postal ballot to renew the private placement limit for NCDs up to ₹35,000 crore (around 19.8% of market cap). The company also announced the appointment of Panakala Raju M as Chief Software Officer.
Confidence: HIGH
What changedThe Board approved a ₹6.50 interim dividend, initiated a ₹35,000 crore NCD borrowing limit renewal, and hired a Chief Software Officer.
Why it mattersProvides immediate cash return to shareholders and secures debt headroom equal to ~19.8% of market cap to fund future balance sheet expansion and retail loan disbursement.
Interim Dividend per share: Rs. 6.50Dividend percentage: 325%NCD renewal limit: Rs. 35,000 croreBorrowing limit vs Market Cap: ~19.8%Record Date: October 29, 2026Payout Date deadline: November 20, 2026
📅 Short termThe stock will likely see minor trading interest ahead of the October 29, 2026 record date for the dividend yield.
📈 Long termLimited direct structural impact from the dividend; debt mobilization approvals reflect ongoing balance sheet scaling for a portfolio exceeding ₹3.29 trillion in AUM.
Key Highlights
Interim dividend of ₹6.50 per equity share (325% on face value of ₹2)
Record date fixed as October 29, 2026; payout before November 20, 2026
Board approved renewal of private placement limit for debentures up to ₹35,000 crore
Periodical resource mobilisation plan approved for debt securities from November 1, 2026 to January 31, 2027
Panakala Raju M appointed as Chief Software Officer
👀 What to Watch
Investors should note the ex-dividend date around October 29, 2026 for dividend entitlement, and track shareholder voting on the ₹35,000 crore NCD borrowing limit via the upcoming postal ballot.
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Ritco Logistics Secures ₹119.55 Cr In New Business In Sep 2026, Led By BCPL And HRRL
Ritco Logistics secured new business worth approximately ₹119.55 crore in September 2026, which represents about 7.9% of its TTM revenue of ₹1,510 crore. The wins are headlined by two 3-year contracts: a ₹73.67 crore contract from Brahmaputra Cracker and Polymer Limited (BCPL) and a ₹35.34 crore contract from HPCL Rajasthan Refinery Limited (HRRL, added to an earlier ₹334 crore order). Subsidiary TrucksUp also showed steady traction, registering ₹54 crore FASTag GMV, ₹3.78 crore in vehicle financing disbursements, and ₹80.07 lakh in subscription revenue for the month.
Confidence: HIGH
What changedRitco Logistics added ₹119.55 crore in aggregate contracts in September 2026, expanding its 3-year order visibility with major state/refinery entities BCPL and HRRL.
Why it mattersProvides multi-year revenue visibility (~7.9% of TTM revenue) and cements relationships with Navratna/energy clients, who already account for a significant portion of Ritco's revenue.
Total new business won: ₹119.55 croreBCPL 3-year contract: ₹73.67 croreHRRL 3-year contract: ₹35.34 croreNew business vs TTM revenue: ~7.9%TrucksUp FASTag GMV (Sep): ₹54 Crore
📅 Short termPositive sentiment driver as the company demonstrates regular contract conversion and visibility heading into H2 FY27.
📈 Long termStrengthens long-duration contractual logistics base while building the digital aggregation ecosystem (TrucksUp) to support operating margins.
⚠ Risk flags
- Dependency on third-party fleet owners for fulfillment
- Execution timeline spread over 3 years, moderating the immediate annual impact
Key Highlights
Secured total new business worth approximately ₹119.55 crore in September 2026
Won a 3-year contract worth ₹73.67 crore from BCPL, Dibrugarh (Lapetkata to various destinations)
Bagged an additional 3-year contract of ₹35.34 crore from HRRL Barmer, supplementing an earlier ₹334 crore order
TrucksUp platform recorded ₹54 crore FASTag GMV and onboarded 15,918 truck suppliers during September
👀 What to Watch
Track execution in upcoming quarterly results to observe how these 3-year contracts translate to revenue and whether TrucksUp digital platform revenues meet the annual INR 15 Cr target.
Ramky Bags ₹588.57 Cr EPC Order from RVNL in Chhattisgarh
Ramky Infrastructure has signed a contract agreement with Rail Vikas Nigam Limited (RVNL) worth approximately ₹588.57 crore (inclusive of GST). The domestic EPC project entails constructing residential towers (over 670 units), bungalows, and township infrastructure at the NMDC Township in Bacheli, Chhattisgarh. This single order equals roughly 30.4% of the company's TTM revenue of ₹1,939 crore, significantly boosting order book visibility. The project execution timeline is set for 30 months from the appointed date, followed by a 12-month defect liability period.
Confidence: HIGH
What changedRamky Infrastructure entered into a formal contract agreement with RVNL for civil and township infrastructure works.
Why it mattersThe ₹588.57 crore contract constitutes ~30.4% of Ramky's TTM revenue, providing strong multi-year revenue visibility and helping diversify its order book beyond historical group/state concentration.
Total Contract Price: INR 588.57 Crores (approx.) (inclusive of GST)Order value vs TTM revenue: ~30.4%Construction timeline: 30 months from the Appointed DateDefect liability period: 12 months from date of completion of work
📅 Short termPositive sentiment driver following significant stock drawdowns, confirming operational momentum in order backlog accretion.
📈 Long termEnhances revenue visibility across the next 2.5 to 3 years and supports the company's stated goal of scaling its order backlog towards ₹12,000 crore.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High non-fund-based limit utilization (~85%) could restrict working capital headroom
- Fixed-price EPC execution risks and raw material cost inflation (steel/cement)
- Project location in remote area (Bacheli, Chhattisgarh) may pose logistics challenges
Key Highlights
Total contract price is approximately ₹588.57 Crores (inclusive of GST)
Contract awarded by Rail Vikas Nigam Limited (RVNL) on an EPC basis
Construction period is within 30 months from the Appointed Date with a 12-month defect liability period
Scope includes 15 Type-III towers (600 units), 1 Type-IV tower (40 units), Type-V tower (30 units), and commercial infrastructure in Bacheli, Chhattisgarh
👀 What to Watch
Track the declaration of the Appointed Date and monitor subsequent quarterly execution progress and margin delivery, particularly given inflationary raw material risks in civil construction.
Q2 FY27 PAT Rises 43% YoY to ₹189.52 Cr; Revenue Up 24% to ₹1,468.26 Cr
Kajaria Ceramics reported strong Q2 FY27 performance, with consolidated revenue rising 24% YoY to ₹1,468.26 crore, supported by 10% YoY volume growth. Consolidated PAT grew 43% YoY to ₹189.52 crore, while EBITDA climbed 35% YoY to ₹286.50 crore with EBITDA margins expanding to 19.51%. The company also announced an ongoing brownfield capex pipeline, including enhanced plans at Srikalahasti (12.50 MSM at ₹340 crore) and Gailpur (11 MSM at ₹180 crore), along with a new ₹34 crore adhesive facility in Durgapur.
Confidence: HIGH
What changedKajaria released its Q2 FY27 financial results and upgraded its ongoing capex plans at Srikalahasti and Gailpur.
Why it mattersDemonstrates robust operational leverage and market share gains, keeping profit growth ahead of revenue growth despite subdued tile exports from Morbi.
Consolidated Revenue Q2 FY27: ₹1468.26 crConsolidated PAT Q2 FY27: ₹189.52 crConsolidated EBITDA Margin: 19.51%Total Planned Capex (Srikalahasti + Gailpur + Durgapur): ₹554 crPlanned Capex vs Net Worth: ~19.1%
📅 Short termLikely positive market reaction following strong margin expansion to 19.51% and 43% YoY net profit growth.
📈 Long termCapacity additions of 23.5 MSM across Srikalahasti and Gailpur slated for FY28 will solidify Kajaria's leadership position in glazed vitrified tiles.
⚠ Risk flags
- Subdued export demand and elevated freight rates in the Morbi hub
- Risk of cost overruns as capex estimates for Srikalahasti and Gailpur have already been revised upward
- Natural gas price volatility impacting production costs
Key Highlights
Consolidated revenue increased 24% YoY to ₹1,468.26 crore in Q2 FY27
Consolidated PAT expanded 43% YoY to ₹189.52 crore vs ₹132.96 crore in Q2 FY26
Consolidated EBITDA grew 35% YoY to ₹286.50 crore with margins at 19.51%
Tile sales volume grew 10% YoY to 31.81 MSM compared to 28.87 MSM in Q2 FY26
Brownfield expansion capex revised upwards: Srikalahasti to 12.50 MSM (₹340 cr) and Gailpur to 11 MSM (₹180 cr)
👀 What to Watch
Track execution milestones for the Srikalahasti (June 2027) and Gailpur (April 2027) expansions, alongside monitoring natural gas pricing trends that could influence elevated margins.
Kajaria Ceramics Q2 PAT Rises 42% YoY to ₹190.7 Cr; Declares ₹12 Dividend & ₹554 Cr Capex
Kajaria Ceramics reported strong Q2 FY27 results with consolidated revenue growing 23.8% YoY to ₹1,468.26 crore compared to ₹1,186.01 crore in Q2 FY26. Consolidated net profit for the quarter rose 42.4% YoY to ₹190.72 crore up from ₹133.98 crore. The Board declared an interim dividend of ₹12 per share with a record date of October 29, 2026. Additionally, the company approved major capex plans totaling ₹554 crore (~11% of TTM revenue), including expanding tile capacities at Srikalahasti (12.5 MSM) and Gailpur (11 MSM), plus a new 9,000 MT/month adhesive plant in Durgapur.
Confidence: HIGH
What changedBoard approved Q2 FY27 earnings, declared a ₹12 interim dividend, and sanctioned revised brownfield expansions totaling 23.5 MSM tile capacity and a new adhesive plant.
Why it mattersThe combined ₹554 crore capex represents ~11% of TTM revenue, significantly expanding presence across Southern, Northern, and Eastern markets as existing tile plants operate at 100% utilization.
Q2 Consolidated Revenue: ₹1,468.26 croreQ2 Consolidated Net Profit: ₹190.72 croreInterim Dividend: ₹12 per shareTotal Approved Capex: ₹554 croreCapex vs TTM Revenue: ~11%
📅 Short termPositive sentiment driven by robust double-digit top-line and bottom-line growth alongside a substantial interim dividend payout approaching on October 29, 2026.
📈 Long termSubstantial capacity expansion of 23.5 MSM tiles reinforces market leadership and provides headroom for double-digit volume growth in core domestic regions through FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution delays or cost overruns across the three capex projects scheduled across 2027
- Input cost sensitivity, especially potential spikes in natural gas prices impacting operating margins
Key Highlights
Consolidated revenue from operations climbed 23.8% YoY to ₹1,468.26 crore in Q2
Net profit from continuing operations increased 41.8% YoY to ₹190.83 crore
Declared an interim dividend of ₹12 per equity share with record date October 29, 2026
Approved revised expansion of Srikalahasti plant to 12.50 MSM tiles at ₹340 crore by June 2027
Approved Gailpur plant expansion of 11 MSM tiles at ₹180 crore and a new Durgapur adhesive facility at ₹34 crore
👀 What to Watch
Track execution timelines for the Srikalahasti and Gailpur capacity additions through 2027, along with the ex-dividend date on October 29, 2026.
Kajaria Ceramics Q2 PAT Rises 42% YoY to ₹190.7 Cr; Declares ₹12 Dividend & ₹554 Cr Capex
Kajaria Ceramics reported strong Q2 FY27 results with consolidated revenue growing 23.8% YoY to ₹1,468.26 crore compared to ₹1,186.01 crore in Q2 FY26. Consolidated net profit for the quarter rose 42.4% YoY to ₹190.72 crore up from ₹133.98 crore. The Board declared an interim dividend of ₹12 per share with a record date of October 29, 2026. Additionally, the company approved major capex plans totaling ₹554 crore (~11% of TTM revenue), including expanding tile capacities at Srikalahasti (12.5 MSM) and Gailpur (11 MSM), plus a new 9,000 MT/month adhesive plant in Durgapur.
Confidence: HIGH
What changedBoard approved Q2 FY27 earnings, declared a ₹12 interim dividend, and sanctioned revised brownfield expansions totaling 23.5 MSM tile capacity and a new adhesive plant.
Why it mattersThe combined ₹554 crore capex represents ~11% of TTM revenue, significantly expanding presence across Southern, Northern, and Eastern markets as existing tile plants operate at 100% utilization.
Q2 Consolidated Revenue: ₹1,468.26 croreQ2 Consolidated Net Profit: ₹190.72 croreInterim Dividend: ₹12 per shareTotal Approved Capex: ₹554 croreCapex vs TTM Revenue: ~11%
📅 Short termPositive sentiment driven by robust double-digit top-line and bottom-line growth alongside a substantial interim dividend payout approaching on October 29, 2026.
📈 Long termSubstantial capacity expansion of 23.5 MSM tiles reinforces market leadership and provides headroom for double-digit volume growth in core domestic regions through FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution delays or cost overruns across the three capex projects scheduled across 2027
- Input cost sensitivity, especially potential spikes in natural gas prices impacting operating margins
Key Highlights
Consolidated revenue from operations climbed 23.8% YoY to ₹1,468.26 crore in Q2
Net profit from continuing operations increased 41.8% YoY to ₹190.83 crore
Declared an interim dividend of ₹12 per equity share with record date October 29, 2026
Approved revised expansion of Srikalahasti plant to 12.50 MSM tiles at ₹340 crore by June 2027
Approved Gailpur plant expansion of 11 MSM tiles at ₹180 crore and a new Durgapur adhesive facility at ₹34 crore
👀 What to Watch
Track execution timelines for the Srikalahasti and Gailpur capacity additions through 2027, along with the ex-dividend date on October 29, 2026.
Kajaria Ceramics Q2 PAT Rises 42% YoY to ₹190.7 Cr; Declares ₹12 Dividend & ₹554 Cr Capex
Kajaria Ceramics reported strong Q2 FY27 results with consolidated revenue growing 23.8% YoY to ₹1,468.26 crore compared to ₹1,186.01 crore in Q2 FY26. Consolidated net profit for the quarter rose 42.4% YoY to ₹190.72 crore up from ₹133.98 crore. The Board declared an interim dividend of ₹12 per share with a record date of October 29, 2026. Additionally, the company approved major capex plans totaling ₹554 crore (~11% of TTM revenue), including expanding tile capacities at Srikalahasti (12.5 MSM) and Gailpur (11 MSM), plus a new 9,000 MT/month adhesive plant in Durgapur.
Confidence: HIGH
What changedBoard approved Q2 FY27 earnings, declared a ₹12 interim dividend, and sanctioned revised brownfield expansions totaling 23.5 MSM tile capacity and a new adhesive plant.
Why it mattersThe combined ₹554 crore capex represents ~11% of TTM revenue, significantly expanding presence across Southern, Northern, and Eastern markets as existing tile plants operate at 100% utilization.
Q2 Consolidated Revenue: ₹1,468.26 croreQ2 Consolidated Net Profit: ₹190.72 croreInterim Dividend: ₹12 per shareTotal Approved Capex: ₹554 croreCapex vs TTM Revenue: ~11%
📅 Short termPositive sentiment driven by robust double-digit top-line and bottom-line growth alongside a substantial interim dividend payout approaching on October 29, 2026.
📈 Long termSubstantial capacity expansion of 23.5 MSM tiles reinforces market leadership and provides headroom for double-digit volume growth in core domestic regions through FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution delays or cost overruns across the three capex projects scheduled across 2027
- Input cost sensitivity, especially potential spikes in natural gas prices impacting operating margins
Key Highlights
Consolidated revenue from operations climbed 23.8% YoY to ₹1,468.26 crore in Q2
Net profit from continuing operations increased 41.8% YoY to ₹190.83 crore
Declared an interim dividend of ₹12 per equity share with record date October 29, 2026
Approved revised expansion of Srikalahasti plant to 12.50 MSM tiles at ₹340 crore by June 2027
Approved Gailpur plant expansion of 11 MSM tiles at ₹180 crore and a new Durgapur adhesive facility at ₹34 crore
👀 What to Watch
Track execution timelines for the Srikalahasti and Gailpur capacity additions through 2027, along with the ex-dividend date on October 29, 2026.
RBI Supervisory Evaluation Increases IOB's RWA by ₹7,392 Cr; Total CRAR Drops 72 bps to 19.06%
In its Inspection for Supervisory Evaluation (ISE) 2026, the RBI assessed Indian Overseas Bank's (IOB) Risk Weighted Assets (RWA) at ₹2,05,323.69 crore as of March 31, 2026, compared to ₹1,97,931.60 crore calculated by the bank. Consequently, IOB's assessed Total CRAR fell by 72 bps from 19.78% to 19.06%, and CET1 CRAR declined from 16.94% to 16.32%. The discrepancies arose from improper risk weights on syndicated ECB loans, secondary syndication exposures, and undisbursed exposures omitted from core banking. Despite the adjustment, capital adequacy remains well above the RBI minimum threshold of 11.50%, with no impact on FY26 net profit.
Confidence: HIGH
What changedRBI's supervisory inspection adjusted IOB's FY26 RWA upward by ₹7,392.09 crore due to gaps in risk weighting for syndicated loans and undisbursed limits, trimming CRAR by 72 bps.
Why it mattersWhile capitalization metrics remain comfortably above regulatory minimums with zero profit impact, it highlights operational and reporting lapses in the core banking solution and syndicated credit book.
RBI Assessed RWA: ₹2,05,323.69 CrBank Calculated RWA: ₹1,97,931.60 CrRWA Increase: ₹7,392.09 CrAssessed Total CRAR: 19.06%Assessed CET-1 CRAR: 16.32%
📅 Short termMinor sentiment overhang due to supervisory scrutiny, though mitigated by strong capital buffers and zero impact on reported profits.
📈 Long termLimited structural impact; capital levels remain robust enough to absorb the RWA increase without requiring dilutive equity capital raising.
⚠ Risk flags
- Gaps in Core Banking Solution (CBS) tracking of undisbursed exposures leading to under-reporting
- Supervisory scrutiny on corporate syndication and external rating compliance
Key Highlights
RBI assessed RWA higher by ₹7,392.09 crore at ₹2,05,323.69 crore versus bank's ₹1,97,931.60 crore
Total CRAR revised down by 72 bps to 19.06% (versus reported 19.78%), remaining well above the 11.50% regulatory minimum
CET-1 / Tier 1 CRAR reduced to 16.32% from 16.94%, exceeding the minimum 5.50% requirement
No impact on reported Net Profit as of March 31, 2026; changes already incorporated in Q2 FY27 (Sep 30, 2026) calculations
👀 What to Watch
Track the upcoming Q2 FY27 balance sheet disclosure to verify the stabilized RWA trajectory and ensure no additional provisioning or penalties emerge from supervisory observations.
Kajaria Ceramics Q2 PAT Rises 42% YoY to ₹190.7 Cr; Declares ₹12 Dividend & ₹554 Cr Capex
Kajaria Ceramics reported strong Q2 FY27 results with consolidated revenue growing 23.8% YoY to ₹1,468.26 crore compared to ₹1,186.01 crore in Q2 FY26. Consolidated net profit for the quarter rose 42.4% YoY to ₹190.72 crore up from ₹133.98 crore. The Board declared an interim dividend of ₹12 per share with a record date of October 29, 2026. Additionally, the company approved major capex plans totaling ₹554 crore (~11% of TTM revenue), including expanding tile capacities at Srikalahasti (12.5 MSM) and Gailpur (11 MSM), plus a new 9,000 MT/month adhesive plant in Durgapur.
Confidence: HIGH
What changedBoard approved Q2 FY27 earnings, declared a ₹12 interim dividend, and sanctioned revised brownfield expansions totaling 23.5 MSM tile capacity and a new adhesive plant.
Why it mattersThe combined ₹554 crore capex represents ~11% of TTM revenue, significantly expanding presence across Southern, Northern, and Eastern markets as existing tile plants operate at 100% utilization.
Q2 Consolidated Revenue: ₹1,468.26 croreQ2 Consolidated Net Profit: ₹190.72 croreInterim Dividend: ₹12 per shareTotal Approved Capex: ₹554 croreCapex vs TTM Revenue: ~11%
📅 Short termPositive sentiment driven by robust double-digit top-line and bottom-line growth alongside a substantial interim dividend payout approaching on October 29, 2026.
📈 Long termSubstantial capacity expansion of 23.5 MSM tiles reinforces market leadership and provides headroom for double-digit volume growth in core domestic regions through FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution delays or cost overruns across the three capex projects scheduled across 2027
- Input cost sensitivity, especially potential spikes in natural gas prices impacting operating margins
Key Highlights
Consolidated revenue from operations climbed 23.8% YoY to ₹1,468.26 crore in Q2
Net profit from continuing operations increased 41.8% YoY to ₹190.83 crore
Declared an interim dividend of ₹12 per equity share with record date October 29, 2026
Approved revised expansion of Srikalahasti plant to 12.50 MSM tiles at ₹340 crore by June 2027
Approved Gailpur plant expansion of 11 MSM tiles at ₹180 crore and a new Durgapur adhesive facility at ₹34 crore
👀 What to Watch
Track execution timelines for the Srikalahasti and Gailpur capacity additions through 2027, along with the ex-dividend date on October 29, 2026.
Kajaria Ceramics Q2 PAT Rises 42% YoY to ₹190.7 Cr; Declares ₹12 Dividend & ₹554 Cr Capex
Kajaria Ceramics reported strong Q2 FY27 results with consolidated revenue growing 23.8% YoY to ₹1,468.26 crore compared to ₹1,186.01 crore in Q2 FY26. Consolidated net profit for the quarter rose 42.4% YoY to ₹190.72 crore up from ₹133.98 crore. The Board declared an interim dividend of ₹12 per share with a record date of October 29, 2026. Additionally, the company approved major capex plans totaling ₹554 crore (~11% of TTM revenue), including expanding tile capacities at Srikalahasti (12.5 MSM) and Gailpur (11 MSM), plus a new 9,000 MT/month adhesive plant in Durgapur.
Confidence: HIGH
What changedBoard approved Q2 FY27 earnings, declared a ₹12 interim dividend, and sanctioned revised brownfield expansions totaling 23.5 MSM tile capacity and a new adhesive plant.
Why it mattersThe combined ₹554 crore capex represents ~11% of TTM revenue, significantly expanding presence across Southern, Northern, and Eastern markets as existing tile plants operate at 100% utilization.
Q2 Consolidated Revenue: ₹1,468.26 croreQ2 Consolidated Net Profit: ₹190.72 croreInterim Dividend: ₹12 per shareTotal Approved Capex: ₹554 croreCapex vs TTM Revenue: ~11%
📅 Short termPositive sentiment driven by robust double-digit top-line and bottom-line growth alongside a substantial interim dividend payout approaching on October 29, 2026.
📈 Long termSubstantial capacity expansion of 23.5 MSM tiles reinforces market leadership and provides headroom for double-digit volume growth in core domestic regions through FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution delays or cost overruns across the three capex projects scheduled across 2027
- Input cost sensitivity, especially potential spikes in natural gas prices impacting operating margins
Key Highlights
Consolidated revenue from operations climbed 23.8% YoY to ₹1,468.26 crore in Q2
Net profit from continuing operations increased 41.8% YoY to ₹190.83 crore
Declared an interim dividend of ₹12 per equity share with record date October 29, 2026
Approved revised expansion of Srikalahasti plant to 12.50 MSM tiles at ₹340 crore by June 2027
Approved Gailpur plant expansion of 11 MSM tiles at ₹180 crore and a new Durgapur adhesive facility at ₹34 crore
👀 What to Watch
Track execution timelines for the Srikalahasti and Gailpur capacity additions through 2027, along with the ex-dividend date on October 29, 2026.
Indo Tech Wins ₹47.49 Cr Order for Power Transformers from Shyam SEL & Power
Indo Tech Transformers Limited has secured a purchase order valued at ₹47.485 Crores (plus applicable taxes) from Shyam SEL & Power Limited. The contract entails manufacturing and supplying 4 power transformers for a steel plant located in the Eastern region of India. The order execution timeline is set for 12 months from the date of drawing approval. This win represents roughly 24% of the company's single-quarter revenue (₹196.3 Cr in Dec 2025) and further bolsters its existing ~₹830 Cr order book.
Confidence: HIGH
What changedIndo Tech has received a new binding purchase order worth ₹47.485 Cr from Shyam SEL & Power Limited.
Why it mattersAdds healthy commercial demand from the industrial steel sector to its ~₹830 Cr order book, securing visible manufacturing utilization for the next year.
Order value: ₹47.485 CroresTotal transformers: 4 NumberExecution period: 12 months from drawing approvalOrder vs Dec 2025 quarterly revenue: ~24.2%
📅 Short termPositive sentiment driver as the order highlights sustained industrial demand for high-capacity power transformers.
📈 Long termStrengthens Indo Tech's positioning in heavy industrial supply contracts outside of traditional DISCOMs, aiding capacity utilization.
⚠ Risk flags
- Raw material price volatility (copper/CRGO) if escalation terms are not tightly matched
- Potential delays in the client approving drawings, which determines the start of the 12-month delivery window
Key Highlights
Aggregate order value of ₹47.485 Crores plus applicable taxes
Scope covers 4 units: 2 units of 80/100 MVA, 220/33 kV and 2 units of 130/180 MVA, 220/33 kV Power Transformers
Awarded by domestic client Shyam SEL & Power Limited for a steel plant in Eastern India
Execution timeline of 12 months from the date of drawing approval
👀 What to Watch
Track the timeline of drawing approvals and subsequent quarterly execution progress to see how quickly this converts to revenue over the next 12 months.
Q2 FY27 PAT jumps 145.1% to ₹11.17 Cr; ₹45 Cr capex planned for 300,000 MTPA expansion
Monolithisch India reported strong Q2 FY27 consolidated earnings, with revenue rising 88.2% YoY to ₹53.59 crore and PAT surging 145.1% YoY to ₹11.17 crore. EBITDA margins expanded sharply by 1,049 bps YoY to 29.5%, aided by handling 55,000 MT of finished goods. The company secured a 710,000 MTPA quartzite mining block in Bihar for backward integration and announced a ₹45 crore capex to add 300,000 MTPA capacity in Rajasthan and Karnataka. Full-year FY27 revenue guidance was maintained at ₹250 crore, compared to TTM revenue of ₹153 crore.
Confidence: HIGH
What changedReported strong Q2 FY27 operational results alongside announcements of raw-material backward integration in Bihar and a 300,000 MTPA multi-state manufacturing expansion.
Why it mattersBackward integration into quartzite mining improves raw-material cost control, while adding 300,000 MTPA capacity on an existing 576,000 MTPA base supports the aggressive FY27 revenue target of ₹250 crore.
Q2 FY27 Revenue: ₹53.59 croreQ2 FY27 PAT: ₹11.17 croreProposed Capex: ₹45 croreCapex vs TTM revenue: ~29.4%Additional Capacity Proposed: 300,000 MTPAFY27 Revenue Guidance: ₹250 crore
📅 Short termPositive sentiment driven by robust margin expansion and commercial production starting at the greenfield unit on October 10, 2026.
📈 Long termSubstantial capacity growth from 576,000 MTPA to 876,000 MTPA along with captive quartzite supply positions the company for significant scaling in refractory ramming mass.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration (SGB Limited contributed 61% of Q2 revenue)
- Regulatory approvals pending for commercial mining commencement in Bihar
- Execution risk on simultaneous plant buildouts in Rajasthan and Karnataka
Key Highlights
Q2 FY27 revenue grew 88.2% YoY to ₹53.59 crore; PAT jumped 145.1% YoY to ₹11.17 crore
EBITDA rose 192.2% YoY to ₹15.80 crore with margins expanding 1,049 bps to 29.5%
Secured allotment of a quartzite mining block in Bihar with approved capacity of 710,000 MTPA
Proposed ₹45 crore capex to add 300,000 MTPA across Rajasthan (175k MTPA) and Karnataka (125k MTPA)
Maintained FY27 revenue guidance at ₹250 crore against H1 FY27 revenue of ₹100.79 crore
👀 What to Watch
Track the commercial launch of the Bihar quartzite mine targeted for mid-January 2027 and the execution progress of the Rajasthan and Karnataka capacity expansions.
German Green Steel Q1 FY27 Revenue at ₹315.29 Cr; Reports Post-IPO Results
German Green Steel and Power reported its financial results for the quarter ended June 30, 2026, with standalone revenue from operations reaching ₹31,529.02 lakhs (₹315.29 crore) compared to ₹25,185.23 lakhs (₹251.85 crore) in Q1 FY26. Standalone profit before tax stood at ₹2,200.22 lakhs (₹22.00 crore), while net profit after tax reached ₹1,487.65 lakhs (₹14.88 crore). The results follow the company's recent IPO, where it raised ₹29,000.00 lakhs via fresh issue alongside an offer for sale of ₹1,390.00 lakhs, listing on October 05, 2026.
Confidence: HIGH
What changedGerman Green Steel and Power reported its first quarterly earnings release following its October 5, 2026 public listing.
Why it mattersDemonstrates operating performance baseline following the infusion of ₹290 crore in fresh equity capital from the IPO.
Standalone Revenue (Q1 ended June 30, 2026): ₹31,529.02 lakhsStandalone PAT (Q1 ended June 30, 2026): ₹1,487.65 lakhsIPO Fresh Issue Size: ₹29,000.00 lakhsIPO Issue Price: Rs. 139 per share
📅 Short termMarket participants will assess the June quarter results against recent IPO valuation levels, watching for post-listing trading momentum.
📈 Long termExecution on utilization of the ₹290 crore IPO fresh issue proceeds will determine future capacity scaling and return profile in iron and steel manufacturing.
⚠ Risk flags
- Prior period comparative quarterly figures were not subject to statutory auditor review because the company was unlisted.
- Cyclical raw material pricing and input cost volatility typical of the steel sector.
Key Highlights
Standalone revenue from operations for Q1 ended June 30, 2026 stood at ₹31,529.02 lakhs vs ₹25,185.23 lakhs in Q1 FY26
Net profit after tax for the quarter was ₹1,487.65 lakhs compared to ₹1,502.86 lakhs in Q1 FY26
Basic/Diluted EPS reported at ₹1.20 per share (not annualised)
Subsequent IPO completed with fresh issue of 2,08,63,309 equity shares at ₹139 each, raising ₹29,000.00 lakhs
Subsidiary German TMT Private Limited contributed ₹17,427.55 lakhs in revenue and ₹362.11 lakhs in PAT for the quarter
👀 What to Watch
Track the deployment of the ₹290 crore IPO proceeds and monitor subsequent Q2 FY27 results to gauge post-listing margin sustainability.
Sat Kartar Life Reports H1 FY27 Revenue Up 26.4% to ₹113.9 Cr; EBITDA Surges 47.7%
Sat Kartar Life reported H1 FY27 revenue of ₹113.9 crore, up 26.4% YoY compared to ₹90.1 crore in H1 FY26. EBITDA grew 47.7% YoY to ₹14.5 crore, with EBITDA margin expanding by 180 bps to 12.7%. Profit after tax increased 26.7% YoY to ₹9.2 crore (EPS of ₹5.88). Operationally, its first 30-bed Ayurveda hospital in Delhi achieved operational breakeven in September 2026, and the company announced pipeline expansion into Gurugram and Dehradun alongside US product exports.
Confidence: HIGH
What changedSat Kartar reported strong H1 FY27 earnings and confirmed operational breakeven for its maiden Ayurveda hospital.
Why it mattersValidates the company's shift from a pure D2C product model into integrated healthcare delivery, unlocking higher-margin operational scale backed by empanelment across 32 insurers.
H1 FY27 Revenue: ₹113.9 CrsH1 FY27 EBITDA Growth (YoY): 47.7%H1 FY27 PAT: ₹9.2 CrsGurugram Hospital Investment: approx. ₹1 CrDehradun Hospital Investment: approx. ₹70 lakh
📅 Short termPositive sentiment driven by healthy EBITDA margin expansion and operational breakeven of the clinical care business.
📈 Long termScaling a low-capex hospital chain (targeting 3-5 centres/month) combined with international US export traction could build a scalable integrated Ayurvedic platform.
⚠ Risk flags
- Execution risks in scaling hospitals rapidly at ~3-5 centres per month
- High digital marketing and customer acquisition costs in D2C wellness segment
Key Highlights
Revenue from operations grew 26.4% YoY to ₹113.9 crore in H1 FY27 from ₹90.1 crore in H1 FY26
EBITDA increased 47.7% YoY to ₹14.5 crore with margins expanding 180 bps YoY to 12.7%
Profit after tax rose 26.7% YoY to ₹9.2 crore, delivering an EPS of ₹5.88
Delhi 30-bed Ayurveda hospital achieved operational breakeven in September 2026
Expanding hospital footprint with Gurugram (₹1 Cr capex) and Dehradun 20-bed centre (₹70 lakh capex, targeted operational by 15th December 2026)
👀 What to Watch
Track the operational rollout of the Dehradun hospital targeted for December 15, 2026, and monitor customer uptake of US export launches and insurance empanelment execution.
Sat Kartar Life H1 FY27 Net Profit Rises 22% YoY to ₹9.49 Cr, Revenue at ₹106.47 Cr
Sat Kartar Life Limited reported its unaudited standalone financial results for the half year ended September 30, 2026. Standalone revenue from operations grew 20.5% YoY to ₹106.47 crore compared to ₹88.35 crore in H1 FY26. Standalone net profit reached ₹9.49 crore, up 21.9% YoY from ₹7.79 crore in H1 FY26. Additionally, the company disclosed zero deviation in the utilization of its ₹33.80 crore IPO proceeds (₹25.82 crore utilized) and ₹47.22 crore preferential issue proceeds (₹4.20 crore utilized).
Confidence: HIGH
What changedSat Kartar Life reported its half-yearly financial results for H1 FY27 alongside clean limited review reports and funds utilization disclosures.
Why it mattersDemonstrates consistent top-line and bottom-line expansion (~20-22% YoY) aligning closely with its 25-30% long-term growth guidance while maintaining strong capital discipline.
Standalone Revenue (H1 FY27): ₹10,646.91 lacsStandalone PAT (H1 FY27): ₹949.37 lacsH1 FY27 Diluted EPS: ₹6.04IPO Funds Unutilised: ₹7.98 crorePreferential Issue Funds Unutilised: ₹43.02 crore
📅 Short termStable operational execution and clean auditor review without deviation in fund utilization should support steady sentiment.
📈 Long termGrowth remains tied to successful scaling of healthcare/Ayurvedic hospitals and deployment of the ₹47.22 crore preferential issue proceeds.
⚠ Risk flags
- Subsidiary financials for interim periods were based solely on unreviewed management statements
- High marketing and advertising spend (₹72.31 crore in standalone other expenses for H1 FY27)
Key Highlights
H1 FY27 standalone revenue from operations rose 20.5% YoY to ₹10,646.91 lacs (₹106.47 crore) vs ₹8,835.31 lacs in H1 FY26
Standalone net profit after tax reached ₹949.37 lacs (₹9.49 crore), up 21.9% YoY from ₹778.53 lacs
H1 FY27 basic and diluted EPS improved to ₹6.04 from ₹4.94 in H1 FY26
Fund utilization report confirmed ₹25.82 crore utilized out of ₹33.80 crore IPO proceeds, and ₹4.20 crore utilized out of ₹47.22 crore preferential issue proceeds with nil deviation
👀 What to Watch
Track the deployment pace of the ₹43.02 crore unutilized preferential issue funds earmarked for healthcare expansion, and monitor operating margin trends amid high marketing expenses.
Aimtron Electronics Approves Preferential Equity Issue with 100% Shareholder Support
Aimtron Electronics announced the voting results of its Extraordinary General Meeting (EGM) held on October 22, 2026. Shareholders unanimously approved a Special Resolution for the issue of equity shares on a preferential basis through private placement. A total of 13,566,186 votes (representing 65.09% of total outstanding shares) were polled, with 100% of the votes cast in favour and zero against. Specific issue details, including issue price and dilution quantum, were not disclosed in this filing.
Confidence: HIGH
What changedShareholders formally approved a Special Resolution allowing Aimtron Electronics to issue equity shares on a preferential basis via private placement.
Why it mattersEnables fresh capital raising to potentially support Aimtron's aggressive capex strategy (targeting SMT lines expansion and M&A pipeline) while impacting equity dilution depending on final pricing.
Total votes cast in favour: 13566186Votes in favour percentage: 100%Total shares outstanding: 20841357Voter turnout on outstanding shares: 65.0926%
📅 Short termClearance removes shareholder-level regulatory friction, enabling the board to proceed with pricing and allotment.
📈 Long termProvides necessary growth capital to support business expansion into EV, Defense, and IoT sectors, subject to final execution and deployment efficiency.
⚠ Risk flags
- Equity dilution risk depending on allotment volume
- Pricing and issue size details not disclosed in the current filing
Key Highlights
Special Resolution passed with 100% of votes cast in favour (13,566,186 votes)
Overall voter turnout stood at 65.0926% of outstanding shares (20,841,357 total shares)
Promoters cast 13,359,386 votes in favour, representing 92.77% of promoter holding
EGM conducted via VC/OAVM on October 22, 2026, with 52 members attending
👀 What to Watch
Track subsequent regulatory filings regarding the exact preferential allotment details, including pricing, investor identity, proceeds quantum, and equity dilution.
Sheetal Cool Products Expands to Haryana, Commences Ice Cream Distribution in Faridabad
Sheetal Cool Products Limited (SCPL) has initiated its distribution network in the state of Haryana with the dispatch of its first container of 'Sheetal Ice Cream' to Faridabad. The distribution officially commenced on October 23, 2026. This move aligns with the company's stated strategy to broaden its geographical presence beyond its core Gujarat market (which contributes ~75% of revenue). However, specific investment amounts or projected revenue contributions from this expansion were not disclosed in the filing.
Confidence: HIGH
What changedSCPL has expanded its ice cream distribution footprint into Haryana, flagging off its first product shipment to Faridabad.
Why it mattersThe company relies heavily on Gujarat (~75% of revenue), so entering Northern Indian markets like Haryana helps diversify geographic revenue risk and expand retail reach.
Date of Commencement: 23/10/2026Initial Shipment Volume: 1 containerNew Market Location: Faridabad, HaryanaGujarat Revenue Concentration: 75%
📅 Short termLimited immediate financial impact from a single container dispatch; sentiment may be mildly positive due to ongoing geographic expansion.
📈 Long termCrucial for reducing reliance on Western India; however, success depends on building brand awareness and competing against established ice cream incumbents in the Delhi-NCR/Haryana region.
⚠ Risk flags
- Intense competition from established national dairy and ice cream players in Northern India
- Cold chain logistics and perishable product handling risks over longer distances from manufacturing bases
- Lack of disclosed capex and sales targets for the new market
Key Highlights
Commenced distribution channel for 'Sheetal Ice Cream' products in Haryana at Faridabad
First container of ice cream products flagged off on October 23, 2026
Expansion supports geographical diversification outside the core Gujarat market (~75% revenue share)
Financial investment and volume targets for Haryana were not disclosed
👀 What to Watch
Monitor upcoming quarterly updates for signs of distribution ramp-up and revenue contribution from Northern India, as well as freight cost implications on operating margins.
Signs Non-Binding MoU for ₹700 Cr Integrated Steel Plant in Andhra Pradesh
Hariom Pipe Industries has signed a non-binding Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) on October 23, 2026. The MoU outlines a proposed investment of approximately ₹700 crore to establish an integrated steel plant at its existing unit in D. Hirehal, Anantapur District. This proposed capex is substantial, representing ~75% of the company's current market cap (₹929 crore) and ~108% of its net worth (₹647 crore). The agreement is non-binding, valid for 12 months, and subject to statutory clearances and approvals.
Confidence: HIGH
What changedHariom Pipe signed a non-binding MoU with APEDB for a planned ₹700 crore integrated steel plant.
Why it mattersIf executed, this mega-capex would expand upstream integration and capacity, but funding it could significantly alter the company's capital structure and balance sheet.
Proposed Investment: approximately Rs. 700 CroreMoU Validity: 12 monthsCapex vs Net Worth: ~108%Capex vs Market Cap: ~75%
📅 Short termThe market is likely to react with caution given the non-binding nature of the MoU and the large funding requirements relative to the company's size.
📈 Long termIf converted to a definitive project and funded effectively, an integrated plant would enhance cost efficiencies and scale, aligning with company growth goals.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Agreement is completely non-binding with a 12-month expiry
- Financing risk: capex of ₹700 cr exceeds net worth (₹647 cr) and may require heavy debt or equity dilution
- Subject to land allotment and statutory/government clearances
Key Highlights
Proposed investment of approximately ₹700 crore to set up an integrated steel plant
MoU executed with Andhra Pradesh Economic Development Board (APEDB) on October 23, 2026
Project to be located at existing unit in D. Hirehal, Anantapur District, Andhra Pradesh
MoU is non-binding and carries a validity of 12 months from signing date
👀 What to Watch
Track subsequent announcements regarding funding arrangements, board capex approval, and regulatory clearances, given the company's existing debt of ₹369 crore.
Rajoo Engineers Q2 FY27 Net Profit Drops 42% YoY to ₹7.84 Cr Despite 10.5% Revenue Growth
Rajoo Engineers reported consolidated revenue from operations of ₹101.91 Cr for the quarter ended September 30, 2026, up 10.5% YoY from ₹92.25 Cr. However, consolidated profit before tax fell 46.9% YoY to ₹10.66 Cr from ₹20.09 Cr, with net profit declining 42.3% YoY to ₹7.84 Cr from ₹13.59 Cr due to higher raw material consumption costs. Subsidiary Kohli Printing and Converting Machines generated revenue of ₹32.30 Cr but posted a quarterly net loss of ₹1.22 Cr. For H1 FY27, operating cash flows turned negative at -₹17.31 Cr compared to +₹69.45 Cr in H1 FY26, driven by a ₹97.80 Cr inventory build-up.
Confidence: HIGH
What changedQ2 FY27 financial results show operating margin compression despite top-line growth, alongside integration losses at its Kohli subsidiary.
Why it mattersHigher input costs and working capital expansion have severely constrained operating cash flow and halved quarterly net profit compared to the previous year.
Consolidated Revenue (Q2 FY27): ₹10,191.45 LakhsConsolidated Net Profit (Q2 FY27): ₹783.97 LakhsCost of materials consumed (Q2 FY27): ₹8,849.81 LakhsOperating Cash Flow (H1 FY27): ₹(1,731.01) LakhsSubsidiary Net Loss (Q2 FY27): ₹(122.30) Lakhs
📅 Short termMargin pressure and drag from the newly acquired subsidiary could weigh on short-term sentiment.
📈 Long termLong-term trajectory depends on executing order backlogs to unwind working capital and achieving projected synergies from Kohli Printing.
⚠ Risk flags
- Severe margin compression driven by material costs
- Negative operating cash flow due to large inventory blockage (₹259.13 Cr)
- Subsidiary Kohli Printing posting losses in Q2 FY27
Key Highlights
Consolidated revenue from operations stood at ₹10,191.45 Lakhs, up 10.5% YoY vs ₹9,225.23 Lakhs in Q2 FY26
Consolidated Net Profit dropped 42.3% YoY to ₹783.97 Lakhs compared to ₹1,359.40 Lakhs in the prior-year period
Cost of materials consumed surged to ₹8,849.81 Lakhs vs ₹4,474.69 Lakhs in Q2 FY26, compressing profitability
Subsidiary Kohli Printing recorded revenue of ₹3,229.80 Lakhs and a net loss of ₹122.30 Lakhs for the quarter
Operating cash flow for H1 FY27 dropped to negative ₹1,731.01 Lakhs due to inventory expanding to ₹25,913.30 Lakhs
👀 What to Watch
Track whether working capital normalizes as the elevated inventory of ₹259.13 Cr gets converted into sales in H2 FY27, and observe Kohli Printing's turnaround back to profitability.
Q2 FY27 Net Profit Rises 30.8% YoY to ₹7.52 Cr; Board Skips Dividend
Chemcon Speciality Chemicals reported revenue from operations of ₹65.45 Cr for Q2 FY27, up 21.8% YoY from ₹53.71 Cr in Q2 FY26, though down slightly by 1.6% QoQ. Net profit for the quarter rose 30.8% YoY to ₹7.52 Cr compared to ₹5.75 Cr in Q2 FY26. For H1 FY27, revenue reached ₹131.94 Cr with a net profit of ₹18.48 Cr, representing an annualized revenue run rate of ~₹264 Cr against TTM revenue of ₹240 Cr. The Board considered a proposal for declaring a dividend but unanimously decided not to declare or recommend any dividend at this meeting.
Confidence: HIGH
What changedChemcon declared its Q2 and H1 FY27 unaudited financial results and decided not to declare an interim dividend.
Why it mattersThe company demonstrated healthy YoY revenue and profit expansion in H1, tracking ahead of FY26 performance, though sequential profitability softened.
Q2 Revenue from operations: ₹6,544.88 LakhsQ2 Net Profit: ₹751.90 LakhsH1 Revenue from operations: ₹13,193.56 LakhsH1 Revenue vs TTM Revenue: ~55%Q2 Diluted EPS: ₹2.05
📅 Short termYoY growth is positive, but the market may take note of the sequential drop in PAT (down 31.4% QoQ from ₹10.96 Cr in Q1) and the decision to skip dividend.
📈 Long termStructural recovery hinges on sustained export market penetration and stabilizing margins across key product lines like HMDS and CMIC.
⚠ Risk flags
- Sequential decline in operating profit and net profit
- Raw material cost volatility impacting quarterly margins
Key Highlights
Q2 FY27 revenue from operations grew 21.8% YoY to ₹6,544.88 Lakhs from ₹5,371.42 Lakhs in Q2 FY26
Net profit for the quarter increased 30.8% YoY to ₹751.90 Lakhs vs ₹574.65 Lakhs in the year-ago period
H1 FY27 net profit stood at ₹1,848.19 Lakhs, up 52.3% YoY from ₹1,213.36 Lakhs
Diluted EPS for Q2 FY27 came in at ₹2.05 compared to ₹1.57 in Q2 FY26
Board decided not to proceed with the proposal for declaration of dividend
👀 What to Watch
Track operating margin trajectory and raw material cost absorption over upcoming quarters, especially considering sequential contraction in net profit from ₹10.96 Cr in Q1 FY27.
Shareholders Approve Rs 46.77 Cr Loan-to-Equity Conversion at Rs 10.07 Per Share
Wherrelz IT Solutions has declared the voting results of a fresh remote e-voting process following a corrigendum, where shareholders unanimously approved the conversion of unsecured loans into equity. The company will issue up to 4,64,45,183 equity shares to non-promoter lenders at a revised price of Rs 10.07 per share, aggregating to Rs 46,77,02,993. The conversion amounts to nearly the entirety of the company's Rs 47 crore debt, significantly de-leveraging its negative net worth balance sheet. Out of 2,80,600 votes polled, 100% were in favor of the special resolution.
Confidence: HIGH
What changedShareholders passed a revised special resolution adjusting the conversion price from Rs 10 to Rs 10.07, reducing the shares to be issued to 4,64,45,183 shares for Rs 46.77 crore of debt conversion.
Why it mattersConverting Rs 46.77 crore of unsecured debt wipes out almost all outstanding debt (Rs 47 crore), drastically fixing a negative net worth position (-Rs 7 crore) but causing massive equity dilution.
Total conversion value: Rs.46,77,02,993/-Revised issue price: Rs.10.07/-Revised shares to issue: 4,64,45,183Conversion vs total debt: ~99.5%
📅 Short termStock liquidity and shareholding pattern will undergo dramatic restructuring once the 4.64 crore shares are allotted and listed.
📈 Long termEliminating nearly Rs 47 crore of debt stabilizes the balance sheet and turns net worth positive, though extreme dilution shifts control predominantly to non-promoter lenders.
⚠ Risk flags
- Extreme equity dilution from issuing 4.64 crore new shares on a micro-cap base
- Historical operational weakness with negative operating margins and minimal revenue
Key Highlights
Shareholders approved the issuance of up to 4,64,45,183 equity shares to non-promoters
Issue price revised upward from Rs 10.00 to Rs 10.07 per share per BSE instructions
Aggregate loan conversion amount stands at Rs 46,77,02,993 (representing nearly all of company's Rs 47 Cr debt)
Resolution passed with 100% votes in favor (2,80,600 votes polled)
👀 What to Watch
Track the in-principle and final listing approvals from the stock exchange for the newly allotted 4.64 crore shares, and observe the resulting massive equity dilution and reduction in finance costs.
