IGL
Haryana to introduce a new city gas distribution policy aimed at boosting infrastructure investments.
Ashoka Buildcon – NHAI Action
Receives NHAI show-cause notice after a fatal accident at the NH-66 elevated corridor.
Temporarily barred from new/ongoing NHAI bids for one month or till probe concludes.
Company denies negligence; ongoing projects remain unaffected.
GAIL – PNGRB Tariff Hike
PNGRB hikes gas transmission tariff by 12% to ₹65.7/MMBtu vs ₹58.6 earlier.
Increase is below the ₹78/MMBtu GAIL sought.
May add ₹1,100–1,200 crore to profit; next full review due FY28.
Indus Towers – Rating Upgrade
ICRA upgrades long-term rating to AAA (Stable); short-term rating reaffirmed at A1+.
Upgrade covers loans, facilities and CP; ₹375 cr NCD withdrawn as no dues remain.
Nureca – Share Buyback
Approves ₹19.14 cr buyback at ₹330/share (5.8 lakh shares, 5.8% equity).
Promoters not participating; record date 12 Dec.
SEPC – Middle East Order
UAE subsidiary wins ~₹85 cr EPC order from Lauren ME Construction LLC for ADOC, Mubarraz Island.
Execution till Dec 2026; milestone payments to begin 60 days post-approval.
SCI – Shipbuilding JV Talks
India exploring JV between SCI, IOC, BPCL, HPCL and Korean yards (Hyundai, Samsung, Hanwha).
Plan to set up major shipyard in Andhra Pradesh; joint carrier procurement over 10 years.
Ashoka Buildcon – ACL Acquisition
Acquires remaining stake in Ashoka Concessions Ltd for ₹667.09 cr.
ACL becomes a fully owned subsidiary; strengthens road concession portfolio.
RIL – Jefferies View
Maintains Buy; target raised to ₹1,785.
Sees double-digit growth across verticals; value unlocking expected from Jio IPO and FMCG traction.
Hero MotoCorp – Citi View
Citi lifts TP to ₹6,900; maintains Buy.
Sees demand pick-up post-GST cuts; rural recovery supportive.
LIC – JPMorgan View
Overweight; TP ₹1,200.
Growth seen from product mix, margin uplift, deeper distribution.
IT Sector – Nomura Outlook 2026
Sees marginal revenue/margin improvement.
AI opportunities visible over 12–18 months.
Top picks: Infosys, Coforge, eClerx.
JSW Infra – Kotak View
Rating cut to Reduce; TP raised to ₹270.
Cautious on growth durability despite near-term tailwinds.
Real Estate – Jefferies View
New launches recovering in Nov after Oct slowdown.
Godrej Properties & Lodha expected to deliver strong H2FY26 performance.
Aluminium – HSBC View
Lifts LME aluminium price forecasts to $2,750 (CY26) and $2,850 (CY27).
Prefers Hindalco (TP ₹1,040) and Nalco (TP ₹308).
Power Sector – HSBC View
CERC proposes shifting connectivity to projects with LoAs/PPAs.
Maintains Reduce on Power Grid.
GAIL – UBS View
Maintains Buy; TP ₹215.
Says actual tariff realisation may be lower than headline increase.
Mankind Pharma – Kotak View
Rates Add; TP ₹2,520.
Base business weak; BSV portfolio showing strong traction.
M&M – Nomura View
Buy; TP ₹4,355.
Launches XEV 9S at ₹19.95 lakh; bookings from 14 Jan, deliveries 23 Jan.
Anthem Bio – Nomura Initiation
Initiates Buy; TP ₹740.
FY26–28 growth outlook strong on base products + new launches.
TAC Infosec
Subsidiary Cyberscope partners with 4EVERLAND for Web3 security integration.
Paytm – Goldman Sachs Upgrade
Upgraded to Buy; TP ₹1,570.
Sees easing regulatory pressure and sustained 20%+ revenue growth.
Grand Continent Hotels
Signs revenue-sharing agreement to operate new Somnath property till 2030.
Macquarie on India
Says India’s growth premium is re-emerging; maintains constructive outlook for 2026.
Economy
Q2 GDP data due today; street expects 7.3% vs 7.8% in Q1; RBI expects 7%.
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