Category: Corporate

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Corporate

Aurobindo Pharma buys Khandelwal labs’ drugs for ₹325 cr

Aurobindo Pharma’s wholly owned subsidiary, Auro Pharma Ltd, has acquired the non-oncology prescription formulations business of Khandelwal Laboratories Pvt Ltd for ₹325 crore. The transaction, effective from 1 January 2026, was structured as a slump sale, meaning the business was acquired on a going-concern basis.

The acquisition includes 23 well-established brands marketed across 67 stock-keeping units (SKUs), along with nine pipeline products that are in development. The portfolio mainly comprises drugs in pain management and anti-infective therapy, two key segments in the Indian pharmaceutical market.

In the financial year 2024‑25, Khandelwal’s non-oncology business recorded a turnover of ₹113.5 crore and an EBITDA of ₹28.9 crore. It is supported by a field force of approximately 470 personnel and a distribution network covering more than 1,600 stockists across India. The acquisition, therefore, provides Aurobindo Pharma with an immediate presence in multiple therapeutic segments and strengthens its domestic reach.

Aurobindo Pharma stated that the move is aimed at broadening its prescription drug offerings while complementing its existing portfolio, particularly in pain management and anti-infective categories. The company clarified that the deal does not involve the transfer of Khandelwal Laboratories’ shares or control, and the acquired business will operate under the Auro Pharma umbrella.

The acquisition is part of Aurobindo’s broader strategy to expand its footprint in the Indian pharmaceutical market, increase its branded drug presence, and enhance overall product offerings. Analysts noted that integrating Khandelwal’s portfolio could provide synergies in sales, marketing, and distribution, allowing Aurobindo to leverage its existing infrastructure to boost growth.

Following the announcement, Aurobindo Pharma’s shares saw a modest rise, reflecting positive market sentiment about the company’s strategic expansion. Market watchers believe the deal will strengthen Aurobindo’s position in domestic prescription drugs and provide a steady revenue stream from established brands.

Also Read: Adani Power shares rises 7% as investor optimism surge

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Corporate

Adani Power shares rises 7% as investor optimism surge

Adani Power Ltd. shares jumped sharply on January 1, 2026, rising 7.1% to ₹153.20 on the BSE, marking their highest level in over a month. The stock witnessed heavy trading, with nearly 50 million shares exchanged, signaling strong investor interest.

Brokerages have highlighted that Adani Power is entering a multi-year earnings upcycle, driven by growing demand for power in India. Sectors such as manufacturing, data centers, and electric vehicles are expected to increase baseload electricity requirements, boosting revenue visibility for the company.

Research reports point to the company’s ongoing transformation from a stressed thermal power producer to one of India’s most efficient private power operators. Its current capacity of 18.15 GW is projected to expand to nearly 41.9 GW by FY33, largely through long-term power purchase agreements (PPAs) that provide steady revenue streams. Around 90% of existing and planned capacity is already under contracts or letters of intent, giving investors confidence in sustained earnings growth.

Global brokerage Morgan Stanley recently maintained an “Overweight” rating on Adani Power, projecting a 20% EBITDA compound annual growth rate through FY33. The firm also raised its price target to ₹185, citing new PPAs and reduced reliance on merchant power sales as key drivers.

Despite the rally and positive outlook, analysts caution that the stock remains exposed to broader market fluctuations and sector-specific risks. They advise investors to weigh these factors before making decisions, noting that while fundamentals are improving, short-term volatility cannot be ruled out.

With strong trading activity and optimism surrounding long-term earnings, Adani Power has become a focus for investors seeking exposure to India’s growing energy sector. The stock’s recent surge underscores the market’s positive sentiment and the company’s potential to benefit from rising power demand and operational efficiency.

Analysts say the surge reflects renewed confidence in the company’s long-term growth prospects and a technical recovery supported by robust volumes.

Also Read: Tarun Garg named Hyundai India MD & CEO

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Auto rally lifts Sensex 350 pts, Nifty crosses 26,250

The equity markets extended gains on January 2, supported by strong buying in automobile and select banking stocks. The BSE Sensex rose around 350 points, while the Nifty 50 climbed above the 26,250 mark, reflecting cautious optimism among investors at the start of the New Year amid stock-specific action and limited broader participation.

Automobile stocks emerged as the clear outperformers after companies reported healthy December sales numbers. Hero MotoCorp and TVS Motor Company gained up to 3 per cent, benefiting from strong volume growth, while Maruti Suzuki also traded firmly, lending support to the benchmark indices. Other auto names such as Bosch and Motherson added to the momentum, pushing the Nifty Auto index higher.

The banking space also contributed to the upside, with PSU lenders showing buying interest. Shares of Punjab & Sind Bank and Indian Bank advanced, helping offset weakness in other pockets of the market. Investors remained selective, focusing on stocks with visible earnings momentum and positive business updates.

However, gains were capped by pressure in the FMCG sector. ITC declined close to 4 per cent, emerging as one of the top drags on the benchmarks amid concerns over higher taxes and near-term margin pressures. Other consumer stocks such as Godfrey Phillips, Zydus Wellness, and Parag Milk Foods also traded lower, keeping the Nifty FMCG index under pressure.

Shares of Hyundai Motor India slipped despite reporting year-on-year growth in sales, indicating cautious sentiment and some profit booking in the stock. Bajaj Auto traded marginally lower, reflecting mixed performance within the broader auto space despite overall sectoral strength.

Market participants also tracked global cues and commodity prices, while trading volumes remained relatively thin, a typical trend during the early days of the year. Analysts said investors are likely to remain stock-specific in the near term, with attention shifting gradually towards quarterly earnings announcements and macroeconomic data.

Overall, strength in auto and PSU bank stocks helped the Sensex and Nifty hold firm, even as FMCG and select consumer names limited the upside, underscoring a cautious but positive undertone in the market.

Also Read: Sensex ends flat, Nifty holds above 26,100

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Corporate

Sensex ends flat, Nifty holds above 26,100

Markets ended largely unchanged on the first trading day of 2026, BSE Sensex closed almost flat at 85,188.60, while the Nifty 50 managed to stay above the 26,100 mark, finishing at 26,146.55.

The markets opened the year on a positive note, with early gains supported by IT and auto stocks, which benefitted from strong sector momentum and positive investor sentiment. However, these gains were largely offset by declines in FMCG and tobacco shares, dragged down by the government’s announcement of higher excise duties on cigarettes. ITC and its peers were among the most affected, putting pressure on the FMCG index.

Midcap stocks outperformed slightly, while smallcap shares showed mixed trends. Overall, sector performance was uneven, reflecting cautious positioning by investors amid limited fresh triggers.

Market participants also remained watchful of broader economic indicators and upcoming corporate earnings, which are expected to influence short-term trends. The rupee and commodities had little impact on the session, leaving domestic sentiment as the main driver of price movements.

Investors entered 2026 with selective optimism, favoring sectors with growth potential while avoiding areas exposed to new regulatory or tax developments. Analysts said the market is likely to remain range-bound in the near term until more clarity emerges on policy direction and corporate performance.

Also Read: Sensex up 100+ points, Nifty above 26,150

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Corporate

IGL slashes domestic PNG prices in Delhi‑NCR

Indraprastha Gas Limited (IGL) on Thursday announced a reduction in domestic piped natural gas (PNG) prices for households in Delhi and the National Capital Region (NCR). Effective January 1, 2026, rates have been lowered by ₹0.70 per standard cubic metre (scm), easing monthly cooking gas bills for thousands of residents.

Under the new rates, Delhi households will pay ₹47.89 per scm, Gurugram ₹46.70, and Noida, Greater Noida, Ghaziabad ₹47.76 per scm.

The reduction comes after reforms by the Petroleum and Natural Gas Regulatory Board (PNGRB) simplified pipeline tariffs, introducing uniform lower charges for domestic PNG and CNG users. IGL said the move aligns with its commitment to providing cleaner energy at affordable rates.

Other city gas distributors are also passing on the benefits of the new tariff structure, providing households across major cities with relief from rising energy costs.

The PNG price cut is expected to offer modest savings to Delhi‑NCR residents, making the start of 2026 slightly lighter on household energy bills.

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Sensex up 100+ points, Nifty above 26,150

The New Year brought a smile in the markets as the BSE Sensex rose around 200 points in early trade, while the NSE Nifty 50 moved above the 26,150 level, supported by buying in auto, IT and select banking stocks.

Among the key gainers, auto stocks advanced on expectations of stable demand and improving margins. Information technology shares also edged higher, aided by bargain buying after recent corrections and hopes of steady global tech spending. Select private sector banks added to the upside, helping benchmarks maintain early gains.

However, the broader market showed mixed trends. FMCG stocks were among the top losers, facing selling pressure amid valuation concerns and muted near-term growth outlook. Metal stocks also traded lower after recent gains, as investors booked profits. Mid-cap and small-cap stocks showed a cautious trend, with limited participation.

Market sentiment remained subdued as most global markets were closed for New Year holidays, leading to lower trading volumes. Investors also remained watchful ahead of key global cues, including signals on US interest rates, geopolitical developments and updates on global economic growth.

Analysts said the positive opening was an extension of the recovery seen in the final sessions of 2025. However, they cautioned that markets may remain range-bound in the near term due to mixed global signals and stock-specific action.

The Indian rupee traded slightly weaker against the US dollar in early trade, adding to the cautious tone. Going ahead, investors are expected to focus on corporate earnings, macroeconomic data and global cues to assess market direction in the opening weeks of 2026.

Also Read: Sensex climbs 546 points, Nifty tops 26,100 in 2025 finale

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Premier Energies bags Rs 2,307 crore Solar orders

Premier Energies Ltd, a Hyderabad-based solar cell and module manufacturer, has won new orders worth Rs 2,307.30 crore in the third quarter (Q3) of FY26. These orders come from leading Indian power producers and other customers and are expected to be executed over the next two years, giving the company steady revenue visibility.

The company said the orders reflect strong customer trust in its product quality and execution capabilities. With India’s renewable energy market growing rapidly, Premier Energies is well-positioned to meet increasing demand for solar components.

The firm is also expanding its production capacity, planning to reach 10.6 gigawatts (GW) for solar cells and 11.1 GW for solar modules by September 2026. These new orders will support this growth and help the company strengthen its place in India’s domestic solar manufacturing sector.

Chiranjeev Saluja, MD and CEO, said the large order inflow shows confidence in Premier Energies’ technology and manufacturing. He added that as India accelerates renewable energy deployment, the company is focused on providing high-quality solar solutions while expanding backward integration across the value chain.

The announcement has caught the attention of investors, with analysts noting that the orders could boost the company’s stock performance. The size and timing of the contracts signal strong business momentum and future growth potential.

Overall, the new orders align with India’s focus on renewable energy and domestic manufacturing. They are expected to contribute significantly to Premier Energies’ growth over the next two years and reinforce its role in building India’s solar infrastructure.

Also Read: PM Modi to inaugurate India AI Impact Summit

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Bharat Forge secures record ₹1,662 cr small arms contract

Bharat Forge Limited has secured its largest-ever small arms contract with the Indian Ministry of Defence, valued at ₹1,661.9 crore. The deal, finalised on 30 December 2025, is for the supply of 255,128 Close Quarter Battle (CQB) carbines to the Indian Army over the next five years. The contract marks a major milestone for Bharat Forge in defence manufacturing and underlines the government’s focus on building self-reliance in critical defence equipment.

The 5.56 x 45 mm CQB Carbine is a compact, lightweight firearm designed for close-range operations, particularly in urban combat, counter-insurgency, and special operations. Its smaller size and enhanced manoeuvrability make it suitable for scenarios where traditional assault rifles may be less effective. The weapon has been jointly developed by the Defence Research and Development Organisation (DRDO) through the Armament Research & Development Establishment (ARDE) and Bharat Forge’s defence arm, Kalyani Strategic Systems Limited (KSSL).

As an indigenously designed, developed, and manufactured system, the CQB Carbine supports the Atmanirbhar Bharat initiative by reducing import dependence and strengthening India’s domestic defence industrial capacity. Bharat Forge has highlighted the “Made in India” nature of the programme, reaffirming its commitment to equipping the armed forces with advanced, locally produced weapons.

This contract is part of a broader modernisation push by the Ministry of Defence, which has recently approved procurement deals worth thousands of crores for carbines, artillery, and torpedoes for the Indian Army and Navy. The government aims to enhance operational readiness while fostering private sector participation in defence production.

The announcement was positively received by markets, with Bharat Forge’s shares rising to a 52-week high, reflecting investor confidence in the company’s expanding defence portfolio. Analysts see the order as a boost to Bharat Forge’s future defence opportunities and its growing role in India’s strategic defence ecosystem.

With this deal, Bharat Forge strengthens its position as a key domestic supplier of advanced small arms, enhancing infantry firepower while showcasing successful collaboration between government research institutions and private industry in delivering mission-critical defence equipment.

Also Read: India moves up to 4th spot in global economy rankings

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Sensex climbs 546 points, Nifty tops 26,100 in 2025 finale

Indian stock markets ended 2025 with a robust rally on Wednesday, as key indices recorded healthy gains in the year’s final trading session. The BSE Sensex jumped 546 points to close at 90,712, while the Nifty 50 crossed the 26,100 mark, driven by widespread buying across sectors.

Market sentiment was boosted by strong performances in metal, energy, and banking stocks, along with bargain hunting by investors. JSW Steel led the gains, rising nearly 5%, followed by Tata Steel (+2.4%), Kotak Mahindra Bank (+2.2%), and ONGC (+2%). Other notable gainers included SBI Life, Reliance Industries, and Titan Company.

On the downside, TCS fell about 1.3%, while Tech Mahindra, Grasim Industries, Wipro, Bajaj Finance, and Infosys saw modest losses. IT stocks underperformed, offsetting some of the broader market gains.

Sectoral trends showed metal, PSU banks, oil & gas, and banking indices leading the rally, while IT lagged. Broader markets also ended higher, with midcap and smallcap stocks outperforming, indicating widespread investor participation.

The Indian rupee closed slightly weaker at ₹89.87 against the US dollar, reflecting cautious foreign fund flows despite the positive market trend.

Also Read: Sensex gains 250 points, Nifty ends above 26000

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Warner Bros. Discovery set to reject Paramount’s $108bn bid

Warner Bros. Discovery is expected to turn down Paramount Skydance’s $108 billion takeover bid next week, according to sources. The board has repeatedly rejected Paramount’s offers, even after amendments intended to make the deal more attractive.

Paramount’s revised proposal included $30 per share in cash, backed by Oracle co‑founder Larry Ellison’s personal guarantee covering $40.4 billion of funding. The bid also increased the breakup fee to match terms of Warner Bros.’ existing Netflix agreement.

Despite these changes, Warner Bros. Discovery’s board believes the Netflix deal offers more certainty and better long-term conditions. Under that agreement, Netflix would acquire Warner Bros.’ studio and streaming assets for about $82.7 billion, while networks like CNN and TNT would be spun off into a separate company.

Insiders say the board has concerns about Paramount’s ability to handle Warner Bros.’ debt and complete the deal smoothly. Terminating the Netflix agreement would also incur a significant breakup fee.

If Warner Bros. formally rejects Paramount, the bidder may need to improve its offer or explore other options. For now, the board seems set on the Netflix path, prioritizing stability over a higher cash offer.

The upcoming decision will influence the future of Warner Bros. Discovery and Hollywood’s media landscape.

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