"2x Volume in next 2 years" ~ CEO, Welspun Corp Welspun Corp Management Takeaways on Recent $1.8 Bn Order Win The $1.8 billion order, combined with Welspun’s ongoing US capacity expansion, provides strong volume visibility through FY29. “From current volumes of 350,000 tons, we are looking at close to 700,000 tons, which is almost 2 times the current volume over the next 2 years.”— Vipul Mathur, MD & CEO The order is tied to growing US gas production and the need for additional pipeline infrastructure to evacuate gas from the Permian basin. The $1.8 billion order may not be a one-off. Welspun sees additional large projects developing, although they remain some distance from finalisation. Debottlenecking, augmentation and the new greenfield facility should leave spare capacity even after accommodating the mega order. Strong demand and higher capacity utilisation give Welspun the ability to prioritise customers, partners and projects rather than chasing volumes. Fixed-price contracts are backed by raw-material arrangements, while US orders and raw materials are dollar-linked, protecting profitability from commodity and currency swings. The US opportunity effectively needs to be served through Welspun’s local manufacturing footprint because tariffs make exports from India unattractive. Management clarified that the win reflects a long bidding and engagement process rather than a sudden spike in US pipeline spending.

FlySBS Aviation Limited has inducted a Hawker 900XP aircraft with a seating capacity of 9 passengers, strengthening its fleet and enhancing its ability to serve the evolving needs of customers in the business aviation segment. #FLYSBS #Aviation

#UniHealthHospitalsLimited UMC Hospitals, Navi Mumbai, in association with USER Foundation and UniHealth Foundation, successfully conducted 2 complex paediatric spine surgeries for underprivileged children, completely free of cost. Cases included neglected scoliosis and progressive kyphotic deformity, supported by advanced neuromonitoring, precision navigation and specialist surgeons from Hyderabad & Delhi. #Healthcare #PaediatricCare #Scoliosis

Jio Platforms Listing Ceremony youtube.com/live/pR4zKeH2G1E…

How Much Jio Platform Earnings will increase on Tariff Hike For every Rs. 10 increase in headline tariffs, estimated EBITDA sensitivity is 3.7% for Jio, 3.9% for Vodafone Idea and 2.2% for Airtel, reflecting differences in tariff-to-ARPU conversion. Nomura expects a ~15% telecom tariff hike in November–December 2026, following the last hike in July 2024.

Jio Platforms ~ From Telecom Disruptor To Market Leader Nomura has initiated coverage on Jio Platforms with a Buy rating and a target price of Rs. 1,340, implying ~20% upside from its IPO price of Rs. 1,119. Key Takeaways: Market Leadership: Jio commands 42% of wireless subscribers, 60% of data traffic and 43% of home broadband. Pricing Power: Nomura expects Jio to lead gradual tariff increases, with competitors potentially following. Earnings Growth: EBITDA is projected to grow at a 13.5% CAGR between FY26 and FY29. Second Growth Engine: Home broadband expansion could drive subscriber additions and higher revenue. Free Cash Flow Inflection: With major 5G investments largely completed, lower capex intensity could improve cash generation. Beyond Telecom: AI-powered services and digital offerings could increase revenue per customer without relying entirely on tariff hikes. International Opportunity: Jio is exploring an asset-light model to offer its telecom technology and managed services overseas. The Bigger Picture: Jio's investment thesis is shifting from subscriber acquisition to monetisation, operating leverage and free cash flow generation. The key monitorables will be tariff increases, broadband growth, capex reduction and the monetisation of digital services.

Crazy as it could be Allowing MTF for a company where only 3-5% is free float

Skygold approves 1800 Cr QIP

BLS Polymers Ltd: A Specialized Polymer Business with an Interesting MOAT! 30+ years of experience | 90.84% repeat customers | 29.51% ROCE What makes this business stand out? 🧵👇 1. Specialized Business Model BLS manufactures performance-based polymer compounds used in critical infrastructure. Key applications: • Power – HV/MV/LV cables • Oil & Gas – Pipeline coatings • Telecom – Optical fibre cables • Water – Long-distance pipelines • Renewables – Solar and wind cables 2. Product Customization as a MOAT • 127 product grades across 6 product lines • In-house R&D and formulation capabilities • Customized compounds for electrical, thermal and chemical resistance • ISO/BIS certifications and government-agency enlistments Unlike basic polymers, these compounds require application-specific performance and technical validation. 3. Strong Customer Stickiness • 190+ customers served • 90.84% repeat customers • Presence across 24 states and 13 countries • Long-standing customer relationships Technical approvals and customized formulations can create switching barriers. 4. Manufacturing Scale • Installed capacity: 35,251 MTPA • In-house R&D laboratory • Focus on advanced compounds, pipeline coatings and cable applications • Expanding product categories and international reach 5. Strong Financial Metrics – FY26 • Revenue: Rs. 349.43 Cr • EBITDA: Rs. 46.60 Cr • PAT: Rs. 27.01 Cr • EBITDA Margin: 13.3% • ROE: 33.17% • ROCE: 29.51% 6. Multiple Industry Tailwinds BLS is positioned across power infrastructure, oil & gas pipelines, city gas distribution, telecom, water infrastructure and renewable energy. The Larger Thesis: BLS Polymers is evolving from a conventional polymer manufacturer into a specialized performance materials supplier. Its potential MOAT lies in formulation expertise + technical approvals + customer stickiness + diversified applications. The key monitorable is whether this differentiation translates into sustained margins and profitable growth. Source: BLS Polymers Investor Presentation | Not investment advice.

#IrisClothingsLimited *Q2 FY27 Key Financial Highlights* * Total Income of ₹ 6,222 Lakhs, YoY growth of 40.3% * EBITDA of ₹ 947 Lakhs, YoY growth of 34.4% * PAT of ₹ 508 Lakhs, YoY growth of 23.3% #IrisClothings #FinancialResults

#EmeraldFinanceLimited The Company has partnered with Kandarp Digi Smart BPO Limited, Uttar Pradesh, to offer its Early Wage Access (EWA) solution to employees, enabling them to access a portion of their earned salary before payday. #EmeraldFinance #EWA #NBFC #Fintech

📦 LEAP India is expanding its returnable packaging platform through the acquisition of Vimprotech and TIPS. The two businesses bring different capabilities: Vimprotech adds in-house design and manufacturing, while TIPS expands LEAP’s automotive pooling business. 🏭 Vimprotech brings mould design, tooling and plastic packaging manufacturing capabilities. It reported FY26 revenue of approximately ₹47 crore, with revenue growing at a 23% CAGR over FY24–26. 🔄 TIPS provides reusable crates, lids and inserts to automotive customers, along with cleaning, repair and maintenance services. It reported FY26 revenue of approximately ₹18 crore, with a 25% revenue CAGR over FY24–26. The deal at a glance: ▪️ Combined acquisition consideration: ₹142 crore through slump sales ▪️ Combined FY26 revenue of the two businesses: approximately ₹65 crore ▪️ Vimprotech brings two manufacturing units in Puducherry and Tamil Nadu ▪️ TIPS adds four warehouses and approximately 2.5 lakh pooled assets The value creation opportunity: LEAP can cross-sell pallets, crates, containers and material handling equipment to a wider customer base while expanding into industries such as electronics, FMCG and agriculture. Bringing design and manufacturing in-house could reduce external dependence, while shared infrastructure, sourcing and logistics could improve efficiency. Together, these synergies could support a larger, more diversified revenue base and stronger profitability over time. #LEAPIndia

Ather Energy ~ Demand More Than Doubles, Capacity Expansion Becomes Critical Ather Energy is witnessing a sharp acceleration in demand, with enquiries and pre-orders growing over 100% YoY in Q2 FY27. Key Highlights: - Enquiries: Up 109% YoY to ~10 lakh in Q2 FY27. - Pre-orders: Up 108% YoY to ~1.8 lakh. - Wholesale Volumes: Increased 42% YoY to 93,211 units, compared with 65,595 units in Q2 FY26. - Production Ramp-Up: Average monthly supply increased from ~22,000 units in Q2 FY26 to ~33,000 units in Q2 FY27. The Interesting Part Is The Demand–Supply Gap. In Q2 FY27, Ather recorded average monthly enquiries of ~3.34 lakh and pre-orders of ~60,000, against production of ~33,000 units. To support growth, the company is expanding manufacturing capacity: - Current Capacity: ~4.2 lakh units annually. - Hosur Enhancement: Capacity to increase to ~4.9 lakh units. - AURIC Phase 1: Further expansion to ~9.2 lakh units. - Additional Enhancement: Total planned capacity of ~11.4 lakh units by Q2 FY28. The company has also indicated additional investments of Rs. 58 crore in Hosur and Rs. 64 crore in AURIC Phase 1. The Bigger Picture: Ather is moving from a demand-generation phase towards a manufacturing scale-up phase. The key question is whether it can convert rising enquiries and pre-orders into deliveries while improving capacity utilisation and operating leverage. Key Monitorables: Order conversion, production ramp-up, AURIC commissioning and profitability as volumes scale.

🚀 BLS Polymers IPO | Scaling Up for Growth What makes BLS Polymers interesting? 👇 🔹 Strong Customer Retention: Repeat customers contributed 96.5% of FY26 revenue. 🔹 Expanding Capacity: Plans to increase installed capacity from 35,251 MTPA to 87,301 MTPA by March 2028 — a 2.5x expansion. 🔹 Improving Profitability: FY24–FY26 EBITDA CAGR of 59.8% and PAT CAGR of 89.5%. 🔹 Rising Margins: EBITDA margin improved from 5.5% in FY24 to 12% in FY26 and 14.5% in Q1 FY27. 🔹 Diversified Applications: Specialised polymer compounds for wires, cables and industrial pipelines. 🔹 Strong Return Ratios: FY26 ROE of 28.5% and ROCE of 30%. 🔹 Infrastructure-Led Opportunity: Exposure to demand from power transmission, renewable energy, telecom, construction and pipeline infrastructure. 📌 IPO Snapshot 📅 27–29 October 2026 💰 Price Band: ₹142–150 📊 Issue Size: ₹255 Cr (Fresh Issue) A capacity expansion story backed by customer stickiness and improving profitability, with supplier concentration, raw-material volatility and single-facility dependence among the key risks to watch. #BLSPolymers #IPO #IPOAnalysis #IndianStockMarket #Investing

Ather Energy ~ Demand More Than Doubles, Capacity Expansion Becomes Critical Ather Energy is witnessing a sharp acceleration in demand, with enquiries and pre-orders growing over 100% YoY in Q2 FY27. Key Highlights: - Enquiries: Up 109% YoY to ~10 lakh in Q2 FY27. - Pre-orders: Up 108% YoY to ~1.8 lakh. - Wholesale Volumes: Increased 42% YoY to 93,211 units, compared with 65,595 units in Q2 FY26. - Production Ramp-Up: Average monthly supply increased from ~22,000 units in Q2 FY26 to ~33,000 units in Q2 FY27. The Interesting Part Is The Demand–Supply Gap. In Q2 FY27, Ather recorded average monthly enquiries of ~3.34 lakh and pre-orders of ~60,000, against production of ~33,000 units. To support growth, the company is expanding manufacturing capacity: - Current Capacity: ~4.2 lakh units annually. - Hosur Enhancement: Capacity to increase to ~4.9 lakh units. - AURIC Phase 1: Further expansion to ~9.2 lakh units. - Additional Enhancement: Total planned capacity of ~11.4 lakh units by Q2 FY28. The company has also indicated additional investments of Rs. 58 crore in Hosur and Rs. 64 crore in AURIC Phase 1. The Bigger Picture: Ather is moving from a demand-generation phase towards a manufacturing scale-up phase. The key question is whether it can convert rising enquiries and pre-orders into deliveries while improving capacity utilisation and operating leverage. Key Monitorables: Order conversion, production ramp-up, AURIC commissioning and profitability as volumes scale.

Correction is much deeper than headline index correction

Indian Telecom trades at premium to global peers on the thesis of lower ARPU Given that leaves potential upside for ARPU

Blinkit vs Instamart ~ The Execution Gap Is Getting Wider “I think our competitor, Blinkit, enjoys a pretty strong flywheel that has been compounding over the years. That is the reason why they’ve been able to build a more resilient business........I think our first job is to build a stable, resilient business that has clearest line of sight to EBITDA zero. The optionalities come after that.” The numbers explain why this matters. - Mid-2024: Blinkit's net order value (NOV) was ~1.7x Instamart's. - Now: The gap has widened to ~3.2x. - Relative scale: Blinkit's NOV advantage has nearly doubled over this period. This is more than a market-share story. Higher order density can improve delivery economics, support greater assortment and attract more customers, creating a compounding advantage. For Instamart, the challenge is no longer just expanding aggressively. It is about improving execution, narrowing the scale gap and building a sustainable path to profitability. The Bigger Question: Can Instamart improve its unit economics while Blinkit continues to compound its scale advantage? A closer look at how this execution gap has evolved over the last 10 quarters. Source: Company earnings commentary and reported NOV figures.

India's Next Capex Supercycle ~ Trillions Of Rupees In Investment Across 12 Emerging Sectors India is preparing for a major investment cycle, supported by government incentives, private-sector capex and rising demand for advanced technologies. Key Investment Opportunities: Semiconductors: ~₹5.27 lakh crore in targeted public and private investment through 2032, including major semiconductor fabrication projects. Artificial Intelligence: Over $71 billion in indicated investments, led by global technology companies and India's AI Mission. Data Centres: Potential investment opportunity of up to $200 billion by 2035, driven by AI computing, cloud adoption and digital infrastructure. Defence Manufacturing: ~₹5.07 lakh crore of combined contract and investment figures, reflecting rising domestic manufacturing opportunities. Green Hydrogen: ~₹2.04 lakh crore in planned support and investment, with opportunities across electrolysers, renewable power and industrial decarbonisation. Renewable Energy: ~₹97,065 crore of budgeted and private investment figures for the FY27 cycle, supporting India's 500 GW non-fossil capacity ambition by 2030. EV & Battery Storage: ~₹80,300 crore in public support and private investment, with battery manufacturing and localisation emerging as major themes. Biotechnology: ~₹2.31 lakh crore in government support, state targets and announced investments, supporting biopharma manufacturing and innovation. Critical Minerals & Rare Earths: ~₹42,580 crore in India-specific commitments to strengthen mineral security and domestic processing. Space, Drones & GCCs: Growing opportunities across private space technology, unmanned systems and demand-led expansion of global capability centres. The Bigger Picture: India's next investment cycle could be increasingly driven by technology, energy security, defence indigenisation and advanced manufacturing, rather than conventional infrastructure alone. The Investment Angle: The biggest beneficiaries may not necessarily be the companies announcing the largest capex, but the suppliers of equipment, components, engineering services and critical technologies supporting these investments.

Navrati saw double digit growth in EV Sales

Magellanic Cloud Limited’s wholly owned subsidiary, Provigil Surveillance Limited, secured a ₹3.16 Cr LOA from DFCCIL Jaipur for CCTV surveillance, centralized monitoring and video analytics across the Western Dedicated Freight Corridor, with installation within 90 days and five years of O&M. #MagellanicCloud #Railways #Surveillance