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L&T Launches India's First ESG Bonds, Raises ₹500 Crore!

L&T Launches India's First ESG Bonds, Raises ₹500 Crore!

L&T Launches India’s First ESG Bonds, Raises ₹500 Crore!

Larsen & Toubro sets a new precedent in green finance by issuing and listing India’s first ESG bonds, marking a crucial step towards responsible capital markets.

Summary:
Engineering and infrastructure leader Larsen & Toubro (L&T) has made history by becoming the first Indian firm to list Environmental, Social, and Governance (ESG) bonds on the National Stock Exchange (NSE). The company successfully raised ₹500 crore through this pioneering issuance, signalling a strong commitment to sustainable business practices and opening the gateway for future ESG investments in India’s debt capital markets.

In a significant development highlighting the increasing significance of sustainable financing in India, engineering giant Larsen & Toubro (L&T) revealed the listing of the nation’s inaugural ESG (Environmental, Social, and Governance) bonds on the National Stock Exchange (NSE). The conglomerate successfully raised ₹500 crore through the issue of debentures, becoming the first Indian issuer to officially enter the ESG bond arena via the public debt market.
This initiative places L&T firmly at the forefront of India’s transition toward green and responsible capital markets, aligning itself with global best practices and investor expectations for ESG compliance and transparency.

What Are ESG Bonds?
ESG bonds, also known as sustainable bonds, are financial instruments specifically designed to fund projects or business activities that meet predefined environmental, social, and governance objectives. These could include initiatives like:
Renewable energy development
Water conservation
Green building infrastructure
Reducing carbon footprint
Supporting social welfare programs
Governance reforms and transparency enhancement
Unlike conventional corporate bonds, ESG bonds require rigorous use-of-proceeds disclosures, regular impact reporting, and independent verification of ESG objectives.

The Details of L&T’s ESG Bond Issue
According to the official release, the ₹500 crore raised through privately placed debentures will be allocated towards sustainable infrastructure and clean energy projects, as well as initiatives aimed at improving social outcomes.
The bonds have been structured to align with international ESG bond frameworks, such as those laid out by the International Capital Market Association (ICMA). In particular, the bond issuance complies with the Green Bond Principles, Social Bond Principles, and Sustainability-Linked Bond Guidelines, ensuring the highest levels of integrity and accountability.
The details regarding the tenure, coupon rates, and the makeup of investors in the issue have not been completely revealed. However, it has garnered interest from both domestic and international institutional investors who are progressively incorporating ESG considerations into their investment approaches.

L&T’s ESG Vision and Long-Term Commitment
As one of India’s largest infrastructure companies, L&T has been vocal about embedding ESG at the heart of its corporate strategy. The company has already laid out a multi-pronged sustainability roadmap that includes:
Achieving carbon neutrality by 2040
Enhancing the proportion of renewable energy in its activities
Reducing greenhouse gas (GHG) emissions
Promoting diversity and inclusion across its workforce
Strengthening corporate governance and ethical compliance
The ESG bond issuance is not just a symbolic move but a strategic financial decision aimed at aligning the company’s capital structure with its sustainability goals.

Industry Reactions
Market participants and sustainability advocates have welcomed L&T’s bold initiative.
Ashishkumar Chauhan, Managing Director and CEO of NSE, remarked:
“The listing of India’s first ESG bonds by L&T is a significant milestone in the evolution of Indian capital markets. It will serve as a benchmark for future sustainable finance issuances in the country.”
Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, noted:
“ESG investing is not a passing trend but the future of capital allocation. L&T’s move can pave the way for more Indian corporates to explore innovative, green financial products.”

India’s ESG Investment Landscape: Ready for Takeoff?
The global ESG bond market has crossed $5 trillion, with countries like China, the US, and members of the EU leading the pack. India has been relatively slow to adopt ESG bonds in public capital markets, with most green finance so far being routed through private placements or international issuances.
However, the listing of L&T’s ESG bonds may act as a catalyst for other Indian companies and public sector units to explore ESG-aligned instruments for financing.
The Indian government has also conveyed its support by:
Regulatory incentives for ESG disclosures
Introduction of Business Responsibility and Sustainability Reporting (BRSR) norms
Proposed framework for sovereign green bonds
With the Securities and Exchange Board of India (SEBI) increasingly focusing on green finance guidelines, the ecosystem for ESG bond issuance is expected to flourish in the coming years.

What It Means for Investors
For institutional investors—especially pension funds, sovereign wealth funds, and ESG-focused mutual funds—the listing provides a new avenue to align investment portfolios with sustainable development goals (SDGs).
Retail investors, though not directly participating in this issuance, will also benefit in the long run as ESG-aligned businesses are more likely to demonstrate long-term value creation, lower risk profiles, and greater regulatory compliance.

Conclusion
L&T has set a new direction for sustainable finance in India by successfully raising ₹500 crore through the country’s inaugural publicly listed ESG bonds. This move not only reflects the company’s commitment to responsible development but also serves as a benchmark for other corporates to align their funding strategies with global sustainability goals.
In a rapidly evolving financial ecosystem where “green is the new gold,” L&T’s pioneering ESG bond issue signals that Indian companies are ready to lead from the front.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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GST Relief Powers Tractor Stocks: Escorts Kubota and VST Tillers Soar Up to 14%

Avantel Soars 6% with ₹25 Crore DRDO Deal!

Avantel Soars 6% with ₹25 Crore DRDO Deal!

Small-cap defence electronics player Avantel Ltd. rallies on the bourses after clinching high-value contracts from key defence sector institutions.

Summary:
Avantel Limited, a small-cap player in India’s defence and space technology sector, saw its shares surge by over 6% following announcements of multiple orders from the Defence Research and Development Organisation (DRDO) and Mazagon Dock Shipbuilders Ltd. The orders, valued at ₹25 crore, have reaffirmed the company’s strategic importance in the national defence ecosystem and boosted investor confidence. With a market capitalization of ₹4,332 crore, the stock hit an intraday high of ₹164.90.

Avantel Limited, a small-cap yet pivotal force in India’s indigenous defence technology landscape, caught investors’ attention on Monday after securing multiple prestigious orders from two leading defence institutions—DRDO (Defence Research and Development Organisation) and Mazagon Dock Shipbuilders Ltd. The total order value stands at a notable ₹25 crore, triggering a sharp rally in the company’s stock.
The company’s stock soared nearly 6.39%, touching an intraday high of ₹164.90 per share, compared to its previous close of ₹155, showcasing a surge in market sentiment and confidence in Avantel’s growth trajectory. As a result, Avantel’s market capitalization touched approximately ₹4,332.13 crore, further cementing its stature in the defence and aerospace sectors.

DRDO and Mazagon Dock: Strategic Orders
The DRDO, India’s premier agency for defence research, and Mazagon Dock Shipbuilders, a PSU under the Ministry of Defence engaged in building warships and submarines, have placed orders with Avantel for its cutting-edge communications and satellite systems. Although specific details of the orders were not publicly disclosed, such orders typically involve critical defence communications, surveillance, or navigation components—areas in which Avantel has demonstrated deep technical expertise.
These new contracts underscore Avantel’s strategic alignment with India’s growing focus on Aatmanirbhar Bharat (self-reliant India) in the defence sector. By playing a key role in strengthening the technological backbone of the armed forces, Avantel is contributing not just to national security but also to reducing dependence on foreign technology.

About Avantel Limited
Avantel Limited, based in Hyderabad, specializes in the design, development, and production of advanced communication systems, satellite ground terminals, and defense electronics, among other solutions. The company primarily serves the Indian defense, space, and government sectors.
The company has steadily built a reputation for innovation-driven R&D, enabling it to work closely with strategic institutions like ISRO, DRDO, Bharat Electronics Limited, and the Indian Navy. Its product suite includes mobile satellite services terminals, SDRs (Software Defined Radios), naval communication solutions, and UAV command and control systems, among others.
Avantel’s robust order book and steady performance have established it as a favoured partner within India’s defence ecosystem. The company continues to invest heavily in R&D to expand its technological edge and maintain competitiveness in a sector driven by precision, reliability, and long-term visibility.

Recent Financial Performance
In its latest financial results, Avantel reported robust revenue and profit growth, fueled by strong execution and higher government orders. As per its FY24 results:
Revenue crossed ₹200 crore
Net profit increased significantly year-over-year, reflecting strong operational efficiency
Order book remained healthy, with increased visibility into FY25 earnings
The addition of ₹25 crore worth of orders further improves forward revenue visibility and is likely to have a positive impact on the company’s top and bottom line in the upcoming quarters.

Investor Sentiment and Market Outlook
The defence sector has become a sunrise segment in the Indian equity market, driven by increasing budgetary allocation, strategic partnerships, and the government’s strong push for indigenization. Investors have shown renewed interest in defence and aerospace-related stocks, with many small-cap players delivering multi-bagger returns over the last 12-24 months.
Avantel is well-positioned to capitalize on this trend due to:
A niche product portfolio aligned with high-priority defence needs
Proven execution track record and trusted by Tier-1 clients
Zero debt and cash-positive balance sheet
Robust R&D capabilities and IP creation
Given the increasing frequency of defence orders, Avantel’s revenue momentum is expected to remain strong. Analysts believe that if the company continues to scale operationally while securing recurring orders, it could soon transition from a small-cap to a mid-cap entity.

Sectoral and Policy Tailwinds
The Indian government has set a goal of reaching a turnover of ₹1.75 lakh crore in defense manufacturing by 2025 through its Defence Production and Export Promotion Policy (DPEPP) 2020, which includes aims for exports totaling ₹35,000 crore. This initiative offers significant room for growth for companies like Avantel, who have already proven their mettle with reliable, indigenous technologies.
Additionally, rising geopolitical tensions and the demand for strong maritime security are likely to drive growth in investments for naval communication and satellite systems—areas where Avantel excels.

What Lies Ahead for Avantel?
In the future, the management at Avantel is expected to concentrate on:
Scaling up manufacturing and delivery capacities
Expanding its export footprint to friendly foreign nations
Collaborating on large-scale defence platforms and long-cycle projects
Venturing into emerging technologies like AI-integrated surveillance systems, IoT in defence, and satellite constellations
The company’s ability to keep innovating while maintaining high-quality delivery standards will be key to unlocking further shareholder value.

Conclusion
Avantel Limited’s stock performance following the receipt of ₹25 crore worth of orders from DRDO and Mazagon Dock serves as a testament to the market’s recognition of its capabilities and strategic relevance. As India increasingly focuses on building a self-reliant defence ecosystem, companies like Avantel stand to gain both in terms of market share and investor confidence.
With consistent order inflows, solid financials, and a clear vision aligned with national defence priorities, Avantel is shaping up to be a small-cap stock with enormous potential in India’s evolving security architecture.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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India’s Power Capacity Expands Significantly: From 305 GW to 476 GW Over Ten Years

Alpex Solar Q1 FY26: Stellar Growth Pushes Company to New Peaks

Premier Energies Plans 10 GW Solar Expansion by FY28 Backed by Robust Indian Market

Premier Energies Plans 10 GW Solar Expansion by FY28 Backed by Robust Indian Market

Premier Energies, a key player in India’s renewable energy sector, has laid out an ambitious roadmap to scale its solar manufacturing capacity to 10 gigawatts (GW) by the fiscal year 2027-28. This aggressive expansion plan is powered by increasing domestic demand for solar energy solutions and aligns with India’s broader push toward self-reliance in renewable energy production.

Targeting 10 GW Capacity to Meet India’s Growing Solar Needs

As India moves rapidly towards its renewable energy goals, Premier Energies is positioning itself to meet the country’s rising solar power demand. The company plans to scale up its solar cell and module manufacturing capacity to 10 GW over the next few years. Currently, Premier Energies operates with a significantly smaller production base, but the company has outlined a clear expansion strategy that will gradually elevate its capacity to meet domestic consumption and future export opportunities.

India’s solar sector is witnessing a strong surge, driven by favorable government policies, rising energy needs, and the global transition toward green energy sources. The Indian government’s support for local manufacturing through initiatives like the Atmanirbhar Bharat campaign and the Approved List of Models and Manufacturers (ALMM) policy is creating a fertile environment for domestic solar companies like Premier Energies to thrive.

Phased Expansion Strategy and Future Growth Plans

Premier Energies has outlined a well-planned, step-by-step strategy to expand its production capacity over multiple phases. By March 2025, the company aims to commission a 1 GW production line focused on the latest TopCon (Tunnel Oxide Passivated Contact) module technology. This will be followed by a major ramp-up of both solar cell and module manufacturing capacities, which are expected to reach around 7 GW and 9 GW respectively by the first quarter of FY 2026-27.

Additionally, Premier Energies is investing heavily in developing backward integration within its supply chain. The company plans to build facilities for key solar components such as wafers, ingots, inverters, and aluminum frames. There are also indications that battery storage solutions may be part of the company’s future diversification plans. These integrated capabilities are being developed under a substantial capital investment program estimated at around ₹12,500 crore, which is expected to be deployed in phases up to FY28.

Robust Financial Performance and Positive Market Outlook

Premier Energies’ strong financial results have boosted investor confidence in the company’s current growth plans. In the third quarter of FY25, the company reported a substantial year-on-year jump in net profit, which increased nearly six times to ₹255 crore. Revenue for the quarter stood at ₹1,713 crore, while the company’s EBITDA margin was recorded at an impressive 30%, reflecting sound operational efficiency.

The company’s order book remains healthy, with confirmed orders totaling around 4.54 GW, valued at approximately ₹6,946 crore. Including pending contracts and future commitments, Premier’s overall order pipeline stands at about 5.3 GW, amounting to ₹8,400 crore. These numbers indicate sustained demand for its products and provide a solid foundation for its planned capacity additions.

ICICI Securities has maintained a positive view on Premier Energies, reiterating its ‘Buy’ recommendation with a 12-month price target of ₹1,320 per share. Analysts believe the company’s strategy of vertical integration and capacity expansion is well-timed to capture the growing domestic solar market.

Global Expansion on Hold Amid Policy Uncertainty

Premier Energies had earlier explored opportunities to enter global markets, especially through a possible joint venture in the United States, but these plans have been temporarily put on hold. The company decided to hold back due to policy uncertainties surrounding the Inflation Reduction Act and other evolving trade regulations in the US.

Instead, Premier Energies is now focusing on consolidating its position within the Indian market, where demand is steadily rising. There are also plans to selectively explore manufacturing opportunities in countries like Malaysia, particularly for wafers, which could provide the company with strategic supply chain advantages in the future.

Riding India’s Solar Growth Wave

India has crossed the 110 GW mark in solar installations as of mid-2025 and is working towards reaching 500 GW of renewable energy capacity by 2030, with solar expected to lead the charge. Domestic module manufacturing is also growing rapidly, with capacity increasing from 39.5 GW to over 60 GW between FY23 and FY24.

Premier Energies’ expansion aligns well with India’s national energy goals, as the government continues to encourage local manufacturing to reduce import dependency. The strong growth in domestic solar installations and policy-driven incentives create favorable conditions for Premier Energies to strengthen its market leadership in the coming years.

Conclusion

Premier Energies’ ambitious plan to reach 10 GW of solar manufacturing capacity by FY28 positions the company as a significant contributor to India’s renewable energy future. Backed by supportive policies, increasing domestic demand, and a robust financial track record, the company is well-placed to capitalize on the rapid expansion of the solar sector. With a clear strategy and phased execution, Premier Energies is expected to play a pivotal role in shaping India’s clean energy landscape.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Stock Market Surge: RIL and Airtel Drive Massive Gains as Sensex Climbs 1.5% in a Week

Arkade Developers: High-Margin, Debt-Free Growth in Mumbai Realty

Stock Market Surge: RIL and Airtel Drive Massive Gains as Sensex Climbs 1.5% in a Week

Stock Market Surge: RIL and Airtel Drive Massive Gains as Sensex Climbs 1.5% in a Week

The Indian stock market witnessed a significant rally last week, with the BSE Sensex surging by approximately 1,289.6 points or 1.58%. This uptrend added substantial value to leading companies, with Reliance Industries Limited (RIL) and Bharti Airtel emerging as the top contributors to the overall market capitalization growth.

Telecom and Energy Lead the Charge
Bharti Airtel and RIL were key drivers of last week’s gains. Bharti Airtel added an impressive ₹54,056 crore to its market value, closing the week with a total market capitalization of ₹11.04 lakh crore. The company’s stock price rose nearly 4%, closing at ₹1,934 per share. The surge was largely attributed to strong investor confidence in the telecom sector, driven by increasing data consumption and the company’s expanding 5G network.
Reliance Industries also posted a strong performance, adding about ₹50,070 crore in market value, pushing its total market capitalization to approximately ₹19.82 lakh crore. Reliance’s shares advanced by 2.5%, ending the week at ₹1,464.10 per share. Analysts attribute this growth to optimism surrounding Reliance’s energy, retail, and telecom segments, as well as positive market sentiment regarding its future growth trajectory.

Financial and IT Stocks Join the Rally
Besides telecom and energy, several major financial and IT companies also contributed to the market’s upward movement. HDFC Bank, India’s largest private lender, saw its market capitalization increase by approximately ₹38,504 crore, closing the week with a valuation of around ₹15.07 lakh crore. The bank’s continued focus on improving asset quality and stable growth in its loan book have kept investors positive.
Infosys, one of India’s leading IT services companies, added about ₹8,433 crore in market value, with a closing valuation of ₹6.74 lakh crore. The gains in IT stocks like Infosys were supported by expectations of steady demand for digital services and improved revenue pipelines despite global macroeconomic uncertainties.
ICICI Bank also participated in the rally, adding around ₹8,012 crore to its market value and reaching a total market capitalization of approximately ₹10.18 lakh crore. Investor confidence in ICICI Bank remains strong, driven by its consistent financial performance and digital banking initiatives.
State Bank of India (SBI), the country’s largest public sector bank, experienced a market cap addition of ₹3,213 crore, ending the week with a valuation of around ₹7.10 lakh crore. The stock’s resilience continues to reflect the strength of India’s banking sector recovery and SBI’s strategic growth plans.

Losses in Select Companies
While many large-cap stocks posted gains, a few significant players experienced a decline in their market capitalization. Bajaj Finance saw a loss of approximately ₹17,876 crore, reflecting investor caution despite the company’s robust lending business. Tata Consultancy Services (TCS) recorded a drop of about ₹4,613 crore, while Hindustan Unilever Limited (HUL) and Life Insurance Corporation (LIC) lost ₹3,336 crore and ₹1,107 crore respectively.
The minor setbacks in these companies are seen as part of normal market fluctuations, as investors rotated funds into more aggressively growing sectors like telecom and energy.

Top 10 Most Valued Companies
By the end of the week, the ten most valued Indian companies included Reliance Industries, HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and HUL. These companies continue to dominate the Indian corporate landscape in terms of market capitalization and investor attention.

Overall Market Outlook
The broader market rally highlights growing investor confidence in key sectors such as telecom, banking, energy, and information technology. The significant addition to market capitalizations indicates robust participation from institutional investors, supported by positive domestic economic indicators and expectations of continued earnings growth.
Experts believe the stock market could maintain its upward trajectory in the coming weeks, especially if key companies continue to report solid quarterly results and global market conditions remain stable. However, they also caution that intermittent corrections may occur, driven by profit booking and global uncertainties.

Conclusion: Strong Weekly Gains Led by Market Heavyweights
The Indian stock market’s performance last week showcased a strong rally powered by heavyweight companies like Bharti Airtel and Reliance Industries. While some companies faced moderate declines, the overall sentiment remained bullish. With multiple sectors contributing to the gains, the Sensex’s 1.5% weekly surge reflects both sectoral strength and investor optimism about India’s economic prospects.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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NATO Eases Defence Spending Demand Following Spain’s Objection to 5% GDP Commitment

MRF Shares Soar Above ₹1.5 Lakh, Reaching a 52-Week Peak!

Reliance Infra Soars on Jet Manufacturing Pact With Dassault Aviation

Reliance Infra Soars on Jet Manufacturing Pact With Dassault Aviation

Reliance Infra’s shares surge as it joins hands with Dassault Aviation to build Falcon 2000 jets in Nagpur, marking a major boost to India’s aerospace sector.

Stock Soars on Major Aerospace Deal

On Wednesday, Reliance Infrastructure’s share price climbed 5%, locking in at its upper circuit limit of ₹386 on the BSE trading platform. The rally was triggered by news of a landmark partnership between a Reliance subsidiary and French aerospace heavyweight Dassault Aviation, signaling a strategic leap for India’s defence and aviation ecosystem.

India Set to Host First-Ever Assembly Line for Falcon 2000 Business Jets

In a first-of-its-kind move, Reliance Aerostructure Limited has entered into a joint venture with Dassault Aviation to assemble Falcon 2000 business jets in India. This marks the first time Dassault will produce these jets outside its home country of France.

The assembly line will be established in Nagpur and operated through Dassault Reliance Aerospace Limited (DRAL). India’s inaugural fully assembled Falcon 2000 jet is slated for launch by 2028, aiming to serve both corporate aviation needs and defense applications.

This initiative represents a significant milestone for India’s ambitions to become a global hub in aerospace manufacturing and aligns with the country’s “Make in India” vision.

Nagpur to Become a Global Hub for Jet Components

The upcoming production facility in Nagpur is projected to emerge as a center of excellence for the Falcon jet series. The scope of work extends beyond simple assembly—it includes the local manufacturing of critical aircraft components such as fuselages, wings, and other structural elements.

In addition to the Falcon 2000, the facility will also be involved in structural work for other Dassault jets, including the Falcon 6X and Falcon 8X models. Dassault Aviation will oversee significant infrastructure enhancements at the site to support this expanded production capability.

This strategic location not only accelerates India’s participation in the global aerospace supply chain but also boosts regional industrial development.

Employment Boost and Local Skill Development

Established in 2017, DRAL has successfully manufactured and supplied over 100 subcomponents for the Falcon 2000 aircraft series to date. The new agreement is expected to create long-term job opportunities, especially for skilled engineers, technicians, and support staff over the next decade.

This initiative is likely to stimulate technical upskilling in the region and foster innovation through exposure to world-class aerospace manufacturing standards.

The long-term employment potential of this project reinforces its value not only to the private sector but also to broader socio-economic development goals.

Capital Infusion to Support Strategic Expansion

Alongside this landmark partnership, Reliance Infrastructure has also successfully completed a significant financial move. The company allotted 1.25 crore equity shares at ₹240 per share, converting existing warrants into stock and raising a total of ₹300 crore.

The proceeds from this capital infusion will be channeled towards advancing the company’s long-term strategic goals, including strengthening its presence in high-growth industries like aerospace, infrastructure, and defence manufacturing.

This funding also bolsters the company’s ability to support future expansions and meet the demands of large-scale, technologically intensive projects.

Final Thoughts

The joint venture between Reliance Aerostructure and Dassault Aviation is a transformative step for India’s aerospace ambitions. By bringing Falcon 2000 jet assembly to Nagpur, the partnership is set to elevate India’s manufacturing capabilities on a global stage.

With the facility set to handle key structural components and potentially evolve into a center of excellence, this collaboration stands to enhance local employment, drive skill development, and attract further investment in the sector.

This initiative also resonates with India’s overarching goal of achieving technological self-sufficiency and strengthening its footprint in the international aerospace arena. For Reliance Infrastructure, this milestone—combined with a fresh ₹300 crore equity infusion—positions the company for sustained growth in defence and aerospace ventures.
Investors and industry observers alike will be watching closely as this high-profile collaboration unfolds in the coming years.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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US Airstrike on Iran: Oil Shock for India

Groww Q2 FY26: Profit Growth Amid Revenue Pressure

VA Tech Wabag Projects Strong 15-20% Revenue growth

VA Tech Wabag Projects Strong 15-20% Revenue growth

Company foresees robust expansion fueled by global contracts and operational efficiency.

Ambitious Revenue Growth Target

VA Tech Wabag aims to achieve an annual revenue increase between 15% and 20% over the next three to five years. The company’s Chief Financial Officer, Skandaprasad Seetharaman, highlighted that this target stems from a strategic pivot toward securing larger, more complex projects, particularly in international and industrial markets.

Healthy Order Book Fuels Confidence

Currently, VA Tech Wabag holds an order backlog of about ₹11,400 crore, providing a clear revenue runway for the coming years. The company is targeting to expand this order pipeline to nearly ₹16,000 crore by the end of the fiscal year. Significant recent wins include a ₹3,251 crore wastewater treatment contract in Riyadh, which has pushed the order book close to ₹14,200 crore.

Expanding International Footprint

The company is aggressively focusing on global markets like the Middle East, Africa, Southeast Asia, and the Commonwealth of Independent States (CIS), where there is better access to funding and larger contracts. At present, international operations contribute roughly 38–40% of VA Tech Wabag’s total revenues, with plans to increase this share in the coming years.

Maintaining Strong Profit Margins and Cash Flows

VA Tech Wabag intends to keep its EBITDA margins within a range of 13% to 15%. The company is also enhancing its portfolio of higher-margin services, especially operations and maintenance (O\&M), which currently make up about 17% of revenue and are expected to grow to 20%.

Financially, VA Tech Wabag has shown solid free cash flow generation, estimated between ₹300 crore and ₹350 crore for FY25, while maintaining a positive net cash balance fluctuating between ₹236 crore and ₹700 crore throughout the year.

Strategic Move Toward Asset-Light Business Model

In a bid to improve operational efficiency and reduce capital intensity, VA Tech Wabag is transitioning away from traditional construction-heavy EPC (engineering, procurement, and construction) projects toward asset-light engineering and procurement (EP) contracts. Currently, EP contracts constitute roughly one-third of total EPC revenue, supporting better margins and lowering working capital needs.

Positive Analyst Outlook

Sharekhan and Axis Securities have recommended the stock as a ‘Buy,’ citing strong margin performance, steady order inflows, and expanding global presence. YES Securities forecasts an 18–19% revenue CAGR for FY26 and FY27, expecting EBITDA margins to move towards the higher end of the company’s guided range.

Potential Risks to Monitor

Despite the encouraging outlook, challenges such as rising steel and raw material prices, possible delays in executing international projects, and fluctuations in working capital could impact near-term performance. However, the company’s solid order backlog and move towards an asset-light model provide a buffer against these risks.

Conclusion

With a robust order book, growing international business, and a strategic focus on profitable contract segments, VA Tech Wabag is well-positioned for sustained double-digit growth over the next several years. Strong cash flow and healthy margins further support this growth trajectory, although market dynamics and execution efficiency remain key factors to watch.

Summary:
VA Tech Wabag targets 15–20% annual revenue growth over the next 3–5 years, driven by a strong ₹14,200 crore order book and expanding international markets. The firm is shifting toward asset-light contracts and boosting higher-margin O&M services to improve profitability. While inflation and project delays remain risks, VA Tech Wabag’s financial health and strategic direction inspire analyst confidence.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Sambhv Launches IPO, Sets ₹2,400 Crore Valuation

Strategic Consolidation: Emcure to Fully Take Over Zuventus Healthcare

Natco Pharma Shares Tumble After USFDA Concerns

Natco Pharma Shares Tumble After USFDA Concerns

The USFDA concludes inspection at Natco Pharma’s Kothur plant with seven observations, triggering a stock sell-off and raising regulatory compliance concerns among investors.

Summary:
Natco Pharma shares declined sharply after the USFDA issued seven observations following an inspection at its Kothur manufacturing facility near Hyderabad. The development raises short-term compliance concerns and puts regulatory scrutiny back in focus for the Indian pharmaceutical company. The market response reflects investor caution, although management has committed to addressing all issues raised.

USFDA Inspection Triggers Investor Anxiety at Natco Pharma
Hyderabad, India — This week, Natco Pharma Ltd’s shares faced downward pressure following the company’s announcement that the United States Food and Drug Administration (USFDA) had completed an inspection of its Kothur manufacturing facility near Hyderabad, resulting in seven observations. The news rattled investor sentiment, leading to a drop of nearly 5% in intraday trade, as regulatory compliance once again took centre stage in India’s closely watched pharmaceutical sector.
The inspection, conducted as part of routine regulatory oversight by the USFDA, was carried out at the Formulations Division in Kothur, Telangana, between June 10 and June 17, 2025. While no serious violations or import alerts have been reported yet, the issuance of seven Form 483 observations has raised concerns about the company’s quality control, documentation practices, and adherence to global manufacturing standards.

What is a Form 483?
A Form 483 is provided by the US FDA to point out conditions that could potentially be violations of the Food, Drug, and Cosmetic Act. These are typically observations made during on-site inspections and are intended to notify the company of potential issues. While not indicative of an immediate enforcement action, these observations can lead to further scrutiny, warning letters, or even delays in product approvals if not addressed satisfactorily.
In Natco’s case, while the company has not disclosed the specifics of the seven observations, it has acknowledged its receipt and stated its intent to submit a detailed response to the USFDA within the stipulated time frame.

Company Statement: Prompt Action Initiated
In a regulatory filing with the stock exchanges, Natco Pharma said:
“The USFDA has concluded an inspection at our Kothur unit with seven observations. We are preparing our comprehensive response and are committed to resolving all issues in a timely and compliant manner.”
Company insiders suggest that the observations pertain primarily to procedural deviations, documentation gaps, and areas of improvement in manufacturing processes rather than critical data integrity issues or safety violations. However, the nature and number of the observations are enough to trigger investor caution.

Stock Market Reaction
The market did not take the news lightly. Natco Pharma’s stock opened lower and slid further during intraday trading on the NSE, closing down by 4.8% at ₹775.30, compared to the previous close of ₹814.15. Trading volumes were unusually high, signalling panic selling among retail and institutional investors.
Brokerages reacted cautiously:
Motilal Oswal termed the development “watchful” and advised clients to await clarity on the nature of observations before making further investment decisions.
ICICI Securities noted that although Natco has a history of overcoming previous regulatory challenges, the presence of multiple observations raises the likelihood of delays in ANDA approvals, which could impact production schedules.

Impact on Business Operations and Approvals
Natco’s Kothur facility is a critical unit in the company’s production chain, supplying oral solid dosage formulations for both domestic and international markets. Importantly, this unit also handles several Abbreviated New Drug Applications (ANDAs) filed with the USFDA.
Analysts fear that unless the observations are resolved promptly:
Pending approvals may get delayed, impacting revenue inflows from the lucrative U.S. market.
The company may face greater scrutiny in future inspections, leading to operational disruptions.
Confidence from global partners and contract manufacturing clients may temporarily waver.
It is worth noting that the U.S. market accounts for nearly 35% of Natco Pharma’s revenues, making any regulatory hurdle a significant issue for both earnings and sentiment.

Regulatory Track Record: A Mixed Bag
This isn’t the first time that Natco has encountered regulatory scrutiny. While the company has successfully cleared inspections in the past, some of its facilities—including those in Visakhapatnam and Chennai—have received observations previously, though none have escalated to warning letters or import bans.
Industry observers argue that the situation remains manageable but should be monitored closely over the coming weeks, especially for any escalation in USFDA actions.

Analyst Take: Long-Term Fundamentals Intact
Despite the current setback, analysts point out that Natco Pharma remains a fundamentally strong player in the oncology, respiratory, and chronic therapeutics segments, with a robust pipeline and growing international footprint.
The company’s partnerships with global players, recent launches of complex generics, and strategic focus on high-entry-barrier products position it well for medium- to long-term growth.
Investors are advised to:
Track updates from the company on progress in resolution.
Watch for changes in USFDA’s tone in subsequent inspections or correspondence.
Focus on upcoming quarterly earnings to evaluate any operational or margin impact due to regulatory challenges.

Conclusion
The seven observations from the USFDA regarding Natco Pharma’s Kothur facility have once again highlighted the regulatory risks that have long been a concern in India’s pharmaceutical industry. While the impact appears manageable for now, the development underscores the importance of continuous compliance and operational vigilance in maintaining global credibility.
As the company works toward addressing the USFDA’s feedback, all eyes will be on its remediation plan and response timelines. For investors, the near-term may bring volatility, but the long-term value could remain intact if Natco navigates this phase effectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Waaree Energies Surges Over 11% on FTSE Index Inclusion Buzz

Waaree Energies Surges Over 11% on FTSE Index Inclusion Buzz

Waaree Energies Surges Over 11% on FTSE Index Inclusion Buzz

Waaree Energies Surges Over 11% on FTSE Index Inclusion Buzz

Waaree Energies accelerates as news of FTSE index addition fuels investor enthusiasm, paving the way for heightened international visibility and capital influx.

Waaree Energies Climbs Sharply Following Buzz Around FTSE Index Addition and Rising Investment Interest

Shares of Waaree Energies rallied more than 11% on June 20 after confirmation of its upcoming inclusion in the FTSE Global Index sparked robust investor interest. The stock soared to an intraday high of ₹2,975, driven by expectations of passive fund inflows tied to the index adjustment.

The momentum reflected investors’ anticipation of increased liquidity and greater global visibility for the solar module manufacturer. This move is expected to mark a pivotal moment in Waaree’s ongoing growth narrative, particularly as it continues to expand internationally.

Passive Inflows Expected to Boost Waaree by $49 Million

The FTSE Global Index, maintained by the London-based Financial Times Stock Exchange, is undergoing its latest portfolio reshuffle. The rebalancing, effective from June 23, is expected to usher in considerable passive investments from institutional funds tracking the index.

Waaree Energies is estimated to benefit from approximately $49 million in such inflows. This projected investment is expected to bolster not just the company’s stock price in the short term, but also its stature among global market participants.

Several other Indian firms are also slated to gain from the FTSE reshuffle. Among the notable beneficiaries are Vishal Mega Mart, projected to receive around $115 million, Hyundai Motor India with an estimated $56 million, Swiggy at $32 million, and NTPC Green Energy expecting approximately $22 million in inflows. Moreover, companies like Afcons Infrastructure, Sai Life Sciences, OneSource Specialty Pharma, and Inventurus Knowledge are expected to draw increased attention as contenders for FTSE index addition.

Strategic Growth in the U.S. Market Amplifies Momentum

While the FTSE development lit the spark, Waaree’s recent gains also stem from its impressive strides in the U.S. renewable energy sector. The company’s American subsidiary, Waaree Solar Americas, has secured significant supply contracts, including a 586 MW order and another for 599 MW from top-tier independent power producers.

Despite political uncertainties around renewable energy policies in the U.S., including proposals that may reduce incentives for the sector, Waaree’s growth remains strong. The company continues to find traction in the market and is undeterred by potential regulatory headwinds.

To meet growing demand, Waaree is doubling the production capacity at its Brookshire, Texas facility. The expansion is aimed at reaching 3.2 GW by the end of 2025, reinforcing Waaree’s ambition to solidify its place as a key player in the global solar energy space.

Market Overview: Share Price Approaches ₹3,000 Within a Wide Price Band

With the latest rally, Waaree Energies’ share price has come within striking distance of the ₹3,000 mark. While still trading about 22% below its 52-week peak of ₹3,740.75 (recorded in November 2024), the stock has made a sharp recovery from its 52-week low of ₹1,808.65, touched in April 2025.

So far in June, the stock has dipped 2.3%, but prior months painted a more bullish picture—with May seeing a 14.4% gain, April rising by 8.3%, and March climbing 11.4%. These gains followed back-to-back losses of 10% and 16% in February and January, respectively.

From its IPO price of ₹1,503, Waaree Energies has now delivered a staggering 98% return, underlining sustained investor confidence in the company’s execution capabilities and long-term prospects.

Technical Overview: Bullish Setup Signals Further Upside Potential

Technically, the stock appears to be forming an ascending triangle on the daily chart—an indicator often associated with bullish continuation patterns. This suggests that accumulation is ongoing and a potential breakout could be on the horizon.

On June 20, strong buying emerged from support zones, accompanied by higher-than-average trading volumes. The stock has decisively closed above both its 20-day and 50-day exponential moving averages (EMAs), pointing to a strengthening short- to medium-term trend.

The Relative Strength Index (RSI) currently hovers around 62 and is on an upward trajectory, reflecting increasing bullish momentum. Should the stock break past the ₹3,050 resistance level, it could see further upside, potentially targeting the ₹3,300 zone in the coming sessions.

Final Thoughts

Waaree Energies’ over-11% surge on June 20 came as a response to the company’s confirmation for inclusion in the FTSE Global Index—an event expected to draw substantial passive investments. But beyond this catalyst, Waaree’s fundamental strength, strategic expansion in the U.S., and strong technical indicators all contribute to a compelling growth story.

The stock’s rebound from its April low, near-doubling since IPO, and resilience in the face of global policy shifts highlight the market’s faith in its long-term vision. Investors and traders alike will be closely watching for a confirmed breakout in the coming days, which could kickstart the next leg of Waaree’s rally.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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India Suspends Tea Exports to Iran: Market Crisis Looms

BEL Bags Fresh Defence Orders Worth ₹585 Crore, Expands Strategic Focus

BEL Bags Fresh Defence Orders Worth ₹585 Crore, Expands Strategic Focus

BEL Bags Fresh Defence Orders Worth ₹585 Crore, Expands Strategic Focus

Bharat Electronics clinchesb major defence deals spanning missile technology, electronic jammers, and surveillance solutions, amplifying its commitment to the Make in India vision.

BEL Clinches Fresh Defence Contracts Valued at ₹585 Crore

Bharat Electronics Limited (BEL), a leading Navratna defence enterprise, has revealed securing new military contracts totaling ₹585 crore since June 5, 2025. This recent order inflow strengthens BEL’s ongoing momentum in securing advanced defence technology contracts and further fortifies its role in India’s defence preparedness.
The company disclosed these developments in its latest regulatory filing with the National Stock Exchange (NSE), underscoring its proactive approach in expanding its defence portfolio. These new orders will help BEL maintain its leadership position in developing state-of-the-art defence technologies aligned with national security objectives.

Key Orders Include Missile Sighting Systems and Communication Gear

The recently acquired orders encompass a diverse array of cutting-edge military technologies and systems. Among the critical supplies are fire control systems and missile sighting equipment, vital for enhancing the accuracy and effectiveness of India’s missile forces. Additionally, BEL will be providing sophisticated communication gear, electronic jammers, essential spares, and technical services as part of these orders.

These technologies play a crucial role in strengthening the operational efficiency of India’s armed forces, particularly in today’s rapidly evolving battlefield environments where digital warfare and precision targeting are increasingly critical.

BEL: A Defence Giant with Expanding Capabilities

Bharat Electronics Limited operates under the Ministry of Defence and holds the esteemed Navratna PSU status, recognizing its importance in India’s defence manufacturing ecosystem. Through consistent growth and innovation, BEL has transformed into a versatile technology-driven entity, offering a broad spectrum of advanced solutions across various defence sectors.

The company’s expertise covers an extensive range of systems including advanced Radars, Weapon and Fire Control Systems, C4I (Command, Control, Communications, Computers, and Intelligence) setups, Electronic Warfare and Avionics, naval systems, Electro-Optics, Tank Upgrades, Satellite Communication (Satcom) systems, and more. Additionally, BEL also delivers technological solutions for both strategic and civilian markets.

Expanding Horizons Beyond Defence

While defence remains BEL’s core strength, the company has been actively expanding into non-defence sectors in recent years. This diversification includes forays into Homeland Security, Cyber Security, Railways, Metro Systems, Civil Aviation, Medical Electronics, Space Electronics, and Anti-Drone Systems.

BEL’s ventures into these segments demonstrate its ability to innovate and provide cutting-edge technological solutions beyond traditional defence applications. Leveraging opportunities in evolving sectors, BEL is carving a path toward long-term expansion and a stronger footprint within India’s advancing tech ecosystem.

Breakthrough in Drone Detection Systems

A significant milestone in BEL’s recent achievements is its partnership with the Indian Army Air Defence to deliver the Integrated Drone Detection and Interdiction System (IDDIS). This system, developed in collaboration with the Defence Research and Development Organisation (DRDO), exemplifies BEL’s innovation capabilities and strategic alignment with India’s security needs.

The IDDIS is engineered to detect, track, and neutralize rogue drones, providing a vital layer of defence against increasingly sophisticated aerial threats. As drone warfare becomes a growing concern globally, India’s proactive steps in deploying such systems position the country’s defence forces at the forefront of counter-drone capabilities.

This initiative also falls in line with the Government of India’s Make in India campaign, promoting indigenous defence manufacturing and reducing dependency on imported security technologies.

Commitment to Self-Reliance and National Security

BEL’s recent contract wins reflect more than just financial success—they highlight the company’s critical role in contributing to India’s defence self-reliance. By persistently advancing its technological capabilities, BEL strengthens its dedication to enhancing India’s defense ecosystem and safeguarding national interests.

With the integration of advanced systems such as IDDIS, alongside missile sighting solutions and cutting-edge communication equipment, BEL is effectively bridging the gap between evolving security threats and India’s preparedness to address them.

Final Thoughts

Bharat Electronics Limited continues to build upon its legacy as one of India’s foremost defence technology providers. The ₹585 crore worth of fresh orders, comprising advanced missile systems, jammers, and drone detection technologies, underscores the company’s pivotal role in strengthening the country’s security framework.

By simultaneously expanding into non-defence sectors, BEL showcases adaptability and forward-thinking leadership. As the demand for indigenous defence systems accelerates under the Make in India initiative, BEL is strategically positioned to lead India’s technological self-reliance both in defence and beyond.

The ongoing collaboration with DRDO and other defence entities further enhances BEL’s stature as a trusted partner in India’s defence modernization journey, paving the way for continued innovation, growth, and national pride.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Kretto Syscon Soars: Bonus & 100% Dividend Buzz!

Bhatia Communications Declares Final Dividend, Sets Record Date for FY25

Kretto Syscon Soars: Bonus & 100% Dividend Buzz!

Kretto Syscon Soars: Bonus & 100% Dividend Buzz!

Kretto Syscon Ltd—trading under ₹5—soars to the upper circuit as investors cheer possible bonus share issuance and 100% dividend recommendation in an upcoming board meeting.

Summary:
Kretto Syscon Limited, a penny stock trading below ₹5, surged to its upper circuit after the company notified the stock exchanges about a board meeting scheduled for July 15, 2025. The meeting will consider issuing bonus shares or recommending a 100% final dividend for FY2024–25. The stock, already considered a multi-bagger, has gained investor attention for its consistent performance and shareholder-friendly actions.

Kretto Syscon’s Rise: Penny Stock Powers to Upper Circuit on Bonus & Dividend Buzz
In a strong display of investor optimism, Kretto Syscon Limited, a penny stock priced below ₹5, hit its upper circuit on Friday following a regulatory filing that has stirred bullish sentiment. The trigger: an upcoming Board of Directors’ meeting scheduled for July 15, 2025, to consider two key shareholder-friendly proposals—issuance of bonus shares and a 100% final dividend for the financial year ended March 31, 2025.
This announcement has sparked widespread interest among retail investors and small-cap trackers, with many eyeing the stock for its multi-bagger potential. Despite being a microcap company, Kretto Syscon’s recent performance and corporate actions have catapulted it into the spotlight as a potential wealth creator in the penny stock segment.

Regulatory Filing Sparks Rally
As per the stock exchange filing submitted to both BSE and NSE, the company stated:
“A meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, July 15, 2025, to consider and approve, inter alia:
The recommendation of a Final Dividend of up to Re 1 per equity share (100%) for the financial year ended March 31, 2025, and/or
The issuance of Bonus Shares is subject to requisite approvals.”
The board will also deliberate on other corporate matters, which could include growth strategies, business expansion plans, or operational updates.
This development led to a frenzied buying spree, with the stock quickly hitting its 5% upper circuit limit, halting further trades due to a surge in demand.

Why the Market Is Excited
For a stock priced under ₹5, to consider either a 100% dividend or bonus shares is relatively uncommon. Typically, penny stocks lack the financial muscle to reward shareholders in this fashion. That’s precisely why Kretto Syscon’s announcement has created a buzz:
High Dividend Yield: At Re 1 per share, the implied dividend yield exceeds 20% based on current market prices—a rare feat in microcap and penny stock territory.
Bonus Share Speculation: Issuing bonus shares often signals management confidence in future profitability and growth. It improves stock liquidity and enhances retail participation.
Sign of Strength: For a small company to consider such capital allocation shows underlying cash flow strength and profitability, especially if both actions are considered simultaneously.
Investors are now anticipating a sharp rerating of the stock should either or both proposals be approved and executed.

Stock Performance and Multibagger Credentials
Over the last 12 months, Kretto Syscon has delivered stellar returns, rising from mere paisa-level lows to its current price of just under ₹5. This represents a return of over 300% in a single year, effectively making it a multi-bagger in penny stock terms.
Several factors have contributed to this meteoric rise:
Improving Financials: Quarterly earnings have shown modest yet consistent improvement in revenue and profitability metrics.
Sectoral Tailwinds: The company, operating in the IT-enabled services (ITES) and consultancy space, has benefited from increased digitization and SME-level automation.
Retail Buzz: Social media chatter, small-cap forums, and YouTube influencers have played a significant role in generating investor interest.
Despite its run-up, the stock remains in penny territory—thereby attracting risk-tolerant investors looking for asymmetric reward opportunities.

Risks and Caution Flags
While excitement is warranted, caution is equally essential. Penny stocks often carry higher-than-average risks due to:
Low Liquidity: A sudden exit may be difficult for large investors.
Price Volatility: A small trigger, such as board decision deferral or non-approval from exchanges, can crash the stock quickly.
Lack of Institutional Coverage: With minimal analyst attention, fundamental clarity is often scarce.
Investors should also be wary of stock operator manipulation, which is not uncommon in thinly traded microcaps.

What’s Next? July 15 Board Meeting Holds the Key
All eyes are now set on the July 15 board meeting, where a final decision will be taken regarding:
Bonus Share Ratio – If bonus shares are approved, the ratio (e.g., 1:1 or 2:1) will significantly influence investor sentiment.
Final Dividend Approval – Re 1 per share could set a strong precedent for future payouts.
Strategic Announcements – The board may also consider future capex, expansion into new geographies, or changes in management structure.
If either action is approved, Kretto Syscon may further rerate, pushing it toward becoming a serious microcap contender rather than just a speculative penny stock.

Conclusion
Kretto Syscon’s story encapsulates the dual nature of investing in India’s microcap universe: high risk, high reward. While the upcoming board decision could catapult the stock to new heights, prudent investors must weigh the fundamentals and volatility risks before making a move.
Nevertheless, the company’s intent to reward shareholders through bonuses or dividends—a rare move in the penny stock space—reflects growing confidence and financial stability. If backed by strong Q1 FY26 earnings and sustained momentum, Kretto Syscon might just become a rare gem in India’s crowded penny stock ecosystem.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Aakaar Medical IPO Sees 37% Day 1 Subscription Backed by Strong NII Demand