Acquisitions & Investments:
– IRM Holding subsidiary India Insure will acquire 100% stake in Safe Risk Insurance Brokers Pvt. Ltd. through a cash and equity structure, pending IRDAI approval.
– Indegene approved an investment of EUR 8.5 million in its wholly owned subsidiary in Ireland to strengthen operations.

SunTeck Realty acquired a land-holding firm, Shreejikrupa Hotels & Properties Pvt. Ltd., in Andheri for Rs. 100 cr through its subsidiary Apricum Buildwell Pvt. Ltd.

Welspun Corp delivered stellar execution with its highest-ever quarterly performance and strong balance sheet improvement.
Revenue stood at Rs. 4,409 cr, up 31% YoY and 23% QoQ.
EBITDA came in at Rs. 626 cr, up 36% YoY and 12% QoQ, while PAT rose 53% YoY and 26% QoQ to Rs. 440 cr.
The firm turned net-debt-free, supported by a robust order book of Rs. 23,500 cr across line pipes, DI pipes, and stainless steel bars.

Business Standard
– RBI Dy Guv reaffirms crypto scepticism, says CBDC will grow step by step
– SBI Card to charge 1% on wallet top-ups, app-based education payments
– IntrCity SmartBus secures ₹250 crore as India’s intercity travel booms
– Cipla’s global CEO Umang Vohra to step down, COO Achin Gupta to take over
– Exide Industries delays board meet as I-T department surveys offices

NIFTY OUTLOOK: 25,877.85 FII: -3,077.59 cr DII: 2,469.34 cr
As discussed yesterday, market behaviour remained on the expected lines during the session, as Nifty failed to surpass its previous resistance and slipped near our support level of 25,850, making a day low of 25,845.

1. FIIs’ net long position is at 19.5%.
2. PCR is at 1.05.
3. VIX is at 11.97.
4. FIIs sold Rs.2,540 cr in the cash segment, sold Rs.1,222 cr in index futures, and bought Rs.833 cr in stock futures.

Capri Global Capital (CGCL)
Blockbuster Q2FY26 – Highest ever revenue, PBT & PAT.
Revenue ₹1,121 cr vs ₹752 cr YoY; PBT ₹314 cr vs ₹128 cr; PAT ₹236 cr vs ₹97 cr.
GNPA 1.23%, NNPA 0.69%. Stable asset quality.

Nuvama on Varun Beverages
TP ₹595 vs ₹606 (Buy). Weak Q3CY25 as expected; entry into AlcoBev via Carlsberg pilot in Africa.
EPS cut ~5%.

LENSKART IPO INSIGHT
Compared to 4 global peers, Lenskart has the lowest EBITDA margin at 9.5% but trades at the highest P/E of 543.2x and Mkt Cap/Sales of 10.5x, indicating stretched valuations.
While listing gains may remain muted, the business model is strong and supported by a large, underpenetrated ₹15,207 Bn eyeglasses market, offering long-term growth potential for organized players.

Jefferies on Shree Cement
Recommendation Buy; Target Price ₹33420, Earlier Target ₹35150
Miss on higher cost; Mgmt reiterates Value over Volume focus
Following weak Sep qtr, cut EBITDA est by ~3-5%
Stock outlook will improve only post any turnaround in Industry Cement prices in Mar qtr