Things To Read Daily

Telegram channel for daily brokerage reports, newspapers, magazines, important market news etc 🔗 t.me/TTRD_uremo .

• India plans to make it mandatory for electricity distributors to procure some energy storage capacity alongside their renewable energy purchases, primarily to reduce wastage of clean power from solar and wind. • Power Secretary Pankaj Agarwal said details (including the exact storage requirement) are still under discussion, with the rules expected to be finalised by March 2027; the policy also converts an existing advisory for renewable developers into a mandatory requirement. • The move addresses high curtailment rates (around 11% of solar output lost during peak summer months despite record demand) and follows recent government subsidies for storage projects such as batteries and pumped hydro.

Ramkrishna Forgings: #RKforging 1. Sales and profits have improved strongly Revenue rose 55% to ₹1,405 crore in the quarter. Operating profit more than doubled, and the company made a profit of ₹71 crore after a loss last year. 2. The casting business is growing well Casting production and utilisation increased (now at 88%). The company also won significant new casting orders, including for light vehicles in North America, which helps diversify beyond commercial vehicles. 3. Not all cost increases are fully recovered Contracts with overseas customers allow steel price changes to be passed on, but Indian steel costs rose faster than the benchmarks used abroad. This means the company still bears part of the higher costs, plus some unrecovered freight expenses. 4. More investment is needed Capex guidance for the year has gone up from about ₹350 crore to ₹550 crore, mainly for machining and higher-value products. This makes the plan to reduce debt by around ₹500 crore more challenging. 5. Some projects are delayed or still uncertain Rail wheel supplies have slipped (now expected from December), and aerospace talks with OEMs are only exploratory with no firm orders yet. The key test is whether higher growth and value-added products can generate enough returns after all the extra spending.

PN GADGIL JEWELLERS – Q2 FY27 CONCALL SUMMARY #Q2FY27 1. Strong financial performance • Revenue grew 22% YoY to ₹2,666 Cr; PAT increased 53% to ₹121 Cr. • EBITDA grew 57% to ₹224.6 Cr, with margins improving 186 bps to 8.4%. • H1 revenue grew 31% and PAT increased 52%. • Retail same-store sales growth stood at a strong 25.5%. 2. Strong retail growth and product premiumization • Retail revenue grew 31% to ₹2,061 Cr, contributing 77% of total revenue. • Gold jewellery value growth was 47%, while diamond jewellery grew 21%. • Lightweight and studded jewellery demand remains strong. • 68% of gold coin buyers converted into jewellery purchases. 3. Aggressive store expansion • Currently operates 80 stores; targeting 103 stores by FY27-end. • Plans to open 23 stores in FY27, including 8–10 in Q3. • Targets approximately 170 stores by FY29. • Expansion increasingly franchise-led to improve capital efficiency. 4. Geographic diversification – Major opportunity • Maharashtra currently contributes approximately 91% of revenue. • Targeting 30–35% revenue contribution from newer geographies by FY30. • Plans 8–10 stores in Uttar Pradesh by FY27-end. • Mature stores in new markets have potential to generate approximately ₹200 Cr revenue annually. 5. Brand portfolio expansion • U by PNG targets younger consumers with lightweight diamond jewellery. • Completed acquisition of Silver Style, which operates 18 stores. • Silver Style delivered 64% revenue CAGR and 99% PAT CAGR over FY24–FY26. • Three growth platforms: PNG Legacy, U by PNG and Silver Style. 6. Strong management guidance • FY27 revenue target: ₹13,000+ Cr. • PAT margin guidance: 4–4.2%. • Company-level stock-turn target: 17–18%. • Management expects strong H2 demand, supported by festive and wedding bookings. • Debt reduction target of 20–25% by FY29–FY30. 7. Key risks to monitor • High dependence on Maharashtra (91% of revenue). • Gold-price volatility and inventory management. • New-store profitability and regional expansion execution. • Silver Style integration. • E-commerce revenue declined 84% YoY. • Higher borrowing and finance costs. Overall View PN Gadgil is pursuing an aggressive transformation from a Maharashtra-focused jewellery retailer into a pan-India jewellery platform. Three important growth drivers to track: • Geographical diversification: Success in UP and other new markets. • Store productivity: Improving stock turns and revenue per mature store. • Margin expansion: Higher studded jewellery contribution and premiumization. Most important monitorable: Whether the company can sustain 20–25% SSSG, deliver its ₹13,000 Cr FY27 revenue target and successfully scale beyond Maharashtra without compromising profitability. #PNGadgil #PNG

Global coal prices are surging due to a severe supply-demand mismatch, with benchmark Australian thermal coal jumping 40% this year to roughly $150 per metric ton. Core Reasons for the Surge & Shortages: •The LNG Fuel Switch: Geopolitical conflicts in the Middle East have driven liquefied natural gas (LNG) prices to extreme highs. Because coal is up to 80% cheaper, power plants across Asia and Europe are rapidly switching to coal, causing demand to spike. •Surging Asian Demand: Record energy consumption in emerging Asian economies is putting intense pressure on existing stockpiles ahead of winter. •Severe Supply Disruptions: ◦China & Indonesia: Strict domestic safety crackdowns and government-mandated production cuts have limited output. ◦India: Severe monsoon floods blocked supply chains right after record summer heatwaves depleted power plant stocks. ◦Russia: Sanctions and logistical bottlenecks have choked off key seaborne export routes. •Underinvestment: Years of reduced capital for new coal mines, due to environmental and ESG pressures, mean global producers hit their maximum capacity limit and cannot keep up with the sudden demand. #coal

GAIL (India) Limited reported a staggering 137.5% surge in consolidated net profit to ₹4,723.75 crore for Q2 FY27 (September 2026 quarter). Key Profit Drivers • Gas Marketing Boost: Geopolitical disruptions in West Asia halted regular Middle East supplies. GAIL adapted by securing 18 spot LNG cargoes, capitalizing on high international gas prices ($30–$32/MMBtu) to multiply its marketing margins. • Segment Growth: Gas marketing profits jumped 2.5 times, transmission profits rose 36%, and LPG earnings quadrupled. • Higher Volumes: Natural gas transmission volumes expanded to 130.10 MMSCMD. Plans for the City Gas Unit • IPO Listing: GAIL approved an Initial Public Offering (IPO) for its subsidiary, GAIL Gas Limited, aiming to dilute a 25% stake to raise up to ₹3,100 crore by March 2027. • Asset Consolidation: GAIL will transfer six of its retail city gas licenses (including Patna, Varanasi, and Ranchi) to the subsidiary via a slump sale effective January 1, 2027, to streamline the business ahead of the listing. #gail

🚨💣 US MILITARY PLANNING ATTACK ON IRAN “Top Military Admiral Briefs Trump on Iran Options,”: • Adm. Brad Cooper, the top U.S. commander in the Middle East, gave a rare in-person White House briefing to President Trump on Thursday (with Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine) on military options for Iran, as the administration weighs resuming major combat operations. The meeting also covered the ongoing U.S. blockade and other topics. • U.S. officials have told Arab Gulf states to prepare for a possible short, intense military campaign after the midterm elections. Trump has publicly referenced the possibility of “another little Epic Fury” (referring to the spring U.S.-Israeli strikes) or a deal, while diplomatic efforts continue and no final decision has been made. • The rare high-level briefing and related planning signal increased readiness for potential strikes (possibly targeting infrastructure or nuclear sites), amid a broader stalemate involving the Strait of Hormuz, Houthi attacks, and regional tensions. Cooper rarely briefs the president in person, which observers interpret as a sign of elevated operational planning. #usiranwar #IranWar #Iran #oil

Garden Reach Shipbuilders & Engineers (GRSE) laid the keel for the fifth 7,500 DWT Multi-Purpose Vessel (MPV) on 29 October 2026. This vessel is part of an ongoing multi-ship commercial export contract for Germany’s Carsten Rehder. Key Highlights •The Agreement: The fifth ship represents the first vessel under the second phase contract signed in October 2024. The total expanded pipeline covers 12 ships, with the 8-vessel portion valued at approximately USD 108 million. •Vessel Capabilities: A 120-metre-long ship from the CORAL 7500 series featuring a single open cargo hold. It is highly versatile, capable of transporting bulk goods, containers, and specialized oversized deck cargo like wind turbine blades. •Partnerships: The ship is being built under the classification guidelines of DNV, using designs from Smart Engineering & Design Solutions (SEDS), and in collaboration with logistics partners like ForestWave and Delft Shipping. #GRSE

Rishabh Instruments 1. Strong Growth Outlook: Management targets more than 2x sales in 3–4 years, supported by Nashik capacity expansion and around 12 new product launches annually. 2. Data Centre & Power Sector Opportunity: Rising AI data centre demand globally is driving growth in low- and medium-voltage transformers. Low-voltage transformer capacity is being increased from 6,000 to 10,000 units per day. 3. Improving Profitability: Electrical instrumentation contributes 75% of revenue and grows around 20% annually, with 20–22% EBITDA margin guidance. Die-casting has turned profitable, improving margins from -7% to +2.5%, with break-even targeted this year. Overall: Rishabh Instruments is positioning itself as a beneficiary of the global AI data centre, transformer, renewable energy and power infrastructure boom. The key triggers are capacity expansion, new product launches and die-casting turnaround.

#relianceind Q2 results.

Do you think CRUDE OIL will rally $120 per barrel from here ?? Hit like ❤️ if you think OIL will spike 10%+ 🛢️🚀 #oil #crudeoil #USmidterm #midterm2026

Potential 5X MULTIBAGGER stock.

QUICK HEAL TECHNOLOGIES LTD. – Q2 FY27 SUMMARY #Q2FY27 1. Financial Recovery Revenue rose 44% QoQ to ₹65 Cr, but declined 22% YoY. EBITDA recovered to a ₹2.3 Cr profit from a ₹17.6 Cr loss in Q1. PAT stood at ₹5.8 Cr versus a ₹5.3 Cr loss in Q1. The company remains debt-free, with receivables falling to ₹98 Cr from ₹176 Cr a year ago. 2. Enterprise Cybersecurity Is the Main Growth Driver Quick Heal aims to generate over 80% of revenue from enterprise customers within three years. Focus areas include endpoint security, EDR, XDR and data privacy. Data privacy solutions could become a significant growth driver, supported by India’s data-protection requirements. AI-driven cyberattacks could increase cybersecurity spending by Indian businesses. 3. Consumer Business Faces Challenges Consumer revenue declined 40% YoY due to competition from free antivirus solutions and changes in Microsoft’s distribution policies. Management is prioritising collections, profitability and cost control over low-quality growth. Key challenge: Converting new products and enterprise opportunities into sustainable revenue and consistent profits. Overall takeaway: Quick Heal is showing a strong sequential financial recovery, improving receivables and maintaining a debt-free balance sheet. However, its long-term growth depends on successfully scaling enterprise cybersecurity and data privacy to offset weakness in its traditional consumer antivirus business.

Waaree Energies Ltd has approved the acquisition of a 100% stake in Waaree Green Data Centers Pvt Ltd and its two wholly owned subsidiaries, Aurovault Data Centers Pvt Ltd and Sunstar Data Centers Pvt Ltd, from its subsidiary, Waaree Renewable Technologies Ltd. Key Highlights of the Deal: Transaction Value: The acquisition is priced at a cash consideration of Rs 1 lakh as an arm's-length, related-party transaction in the ordinary course of business. Strategic Intent: The deal brings the data center business directly under the listed parent company, positioning it to target growing AI, cloud-computing, hyperscale, and edge digital infrastructure opportunities in India and globally. Operational Status: The acquired entities have not yet commenced operations, meaning the acquisition will not immediately add operational data center capacity to Waaree Energies' portfolio. Timeline & Approvals: Expected to complete during FY27, requiring no specific government or regulatory approvals. Details Pending: Specific investment commitments, facility locations, and capacity targets have not yet been disclosed. #WaareeEnergies

57 PAGES IN-DEPTH RESEARCH REPORT ON #JIO You can read here : 👇👇 🔗 t.me/TTRD_uremo/2132 . #jioipo

•ORQA, a Croatian drone maker supplying NATO forces, is partnering with Ukrainian firm General Cherry to jointly develop interceptor drones and components, including building an underground factory in Ukraine for electronics and related systems. •Ukrainian drone producers have adapted by splitting manufacturing across multiple dispersed sites, frequently relocating, and shifting work underground to reduce vulnerability to Russian strikes, prioritizing resilience over efficiency. •ORQA’s CEO and others argue that Western defense companies should adopt these distributed and hardened production methods to avoid single points of failure, drawing on Ukraine’s practical experience of scaling under wartime conditions.

• India’s MoRTH has issued draft rules proposing to make Automatic Emergency Braking System (AEBS) mandatory for new car models from 1 October 2030 and for all car models from 1 October 2032. • The draft also requires Emergency Lane Keeping System (ELKS) and Automatic Commanded Steering Functionality (ACSF) in taxis and transport vehicles from 1 October 2029, along with new steering effort standards from 2027 and updated child seat norms. • The Ministry has invited comments and suggestions from stakeholders on these proposed amendments to the Central Motor Vehicles Rules.

1. Policy shift in the big ethanol tender: Oil marketing companies invited bids for ~1,100 crore litres of ethanol for 2026-27, but the tender bars ethanol from sugarcane juice and B-heavy molasses. Supply must now come from food grains (mainly maize and rice) or C-heavy molasses, and the price for maize-based ethanol has been cut from ~₹72 to ₹69 per litre. 2. Why the change and what earlier incentives did: Earlier price hikes (from 2024) successfully boosted maize ethanol output so that maize became the top feedstock, and farmers shifted acreage toward maize (often from pulses, oilseeds and cotton rather than the hoped-for switch from water-intensive paddy). This produced oversupply, with mandi prices frequently below MSP, while distilleries enjoyed high margins on cheap maize and fixed selling prices. 3. Resulting pressures and side-effects: The new lower prices plus rising input costs (FCI surplus rice becoming costlier, broken rice facing export competition after the ban was lifted) squeeze margins for grain-based plants. At the same time, India faces a trade-off (ethanol cuts crude imports but reduced oilseed acreage raises edible-oil imports), structural overcapacity in distilleries, and competing demand from the poultry feed industry that has driven maize prices higher in some periods. #ethanol

KFIN TECH chart analysis 📈📉 Zone shown by arrow the support zone. Below that next fall in #KfinTech will begin.

BLUESTONE JEWELLERY – Q2 FY27 1️⃣ Strong Growth & Improving Profitability 📈 Revenue grew 44% YoY to ₹738 Cr, while EBITDA more than doubled. Achieved the fourth consecutive profitable standalone quarter. Customer base crossed 1 million, with average order value (AOV) increasing approximately 29% YoY. Store network reached approximately 380 locations after opening 27 stores during the quarter. 2️⃣ Expansion & Long-Term Growth 🚀 Entered seven new cities, focusing on Tier 2 and Tier 3 markets. Repeat purchases, new customer acquisition and higher spending are the key growth drivers. Online discovery and offline stores together strengthen its omnichannel business. Management retains its ambitious ₹12,000 Cr revenue target by FY30. Marketing expenses are targeted to decline from 5.7% to approximately 4.5% of revenue over four years. 3️⃣ Key Risks & What to Monitor ⚠️ Contribution margin declined 50 basis points YoY, although manufacturing efficiencies helped cushion the impact. Store expansion requires substantial inventory and working capital, while new stores take time to mature. Gold-price inflation boosted AOV, so reported growth should be assessed alongside underlying demand. The proposed ₹300 Cr NCD fundraising aims to refinance higher-cost debt. Improving inventory turnover and return on invested capital (ROIC) will be crucial for sustainable growth. 🔑 Overall Takeaway Bluestone is delivering strong growth while expanding its physical presence and customer base. Its long-term success will depend on repeat purchases, store productivity, inventory efficiency and disciplined capital allocation. The ₹12,000 Cr FY30 revenue ambition is an important target to monitor. #Bluestone .