Stock Notes, 09 April 2026

Things I compiled yesterday as part of my stock research activities.

New Orders Received

🟢 KEC International bags mega orders worth ₹2,518 Cr including its largest-ever commercial real estate order in the civil segment. KEC’s FY26 order intake has crossed ₹22,800 Cr, a 35% YoY growth, with the civil segment now a strategic revenue pillar.

🟢 HFCL subsidiary HTL Limited secures orders worth ₹1,366 Cr for supply of optical fiber cables from a Tier-1 domestic customer; execution scheduled by December 2026.

🟢 NPST wins AI-powered merchant underwriting and risk management order from a public sector bank.

🟢 Larsen & Toubro emerges as lowest bidder for a package valued at ₹22,500 Cr for NTPC Lara and DVC-CIL projects. If converted, this would rank among L&T’s largest single thermal EPC wins in a decade.

Partnerships, Investments & Acquisitions

🟢 NTPC signs non-binding MoU with EDF for cooperation in nuclear power projects in India. EDF operates 56 reactors supplying ~70% of France’s electricity. Collaboration aligns with India’s 100 GW nuclear target by 2047 under the 2025 nuclear energy policy.

🟢 RedTape acquires international sports brand Sprandi, securing rights for India, Nepal, Bhutan, and Sri Lanka markets with plans for a large-volume launch across online and retail channels. Sprandi is a Polish mass-market sportswear brand.

Core Business & Regulatory

🟢 GOCL Corp’s new EMS facility becomes fully operational at its Hyderabad-based Gummadidala unit after receiving factory license. GOCL is one of only three private-sector licensed EMS manufacturers in India.

🟢 Hyundai Motor India announces up to 1% price increase across its car portfolio effective May 2026, citing input cost escalation. Hyundai's last price revision was January 2026. Cumulative steel and aluminium cost inflation since then has exceeded 8%.

Economy, IPO & Other

🟢 RBI maintains repo rate unchanged at 5.25%; marginal standing facility rate and bank rate stand at 5.50%.

🟢 RBI Governor announces new framework for NBFC categorisation is coming soon. The revised framework is expected to formalise upper and middle layer classifications, tightening capital norms for the top NBFCs.

🟢 SEBI extends IPO approval validity to September 30, giving one-time relief to IPO-ready firms. Approximately 40 issuers with ₹43,500 Cr in planned fundraising benefits. A cluster of IPOs is expected in August-September 2026 once geopolitical uncertainty clears.

🟢 Cabinet approves ₹41534 Cr nutrient-based subsidy for summer season crops. This is the third consecutive year of above-₹40000Cr NBS allocation. Fertiliser companies with NBS-linked product exposure such as Chambal and GNFC gain.

🔴 Aluminium shortage set to hit EV two-wheeler margins. Aluminium prices rose ₹35–45/kg since end-Feb to ~₹358.7/kg. This significantly raises input cost for Ola Electric, Bajaj Auto, and TVS Motor. Two-wheeler frames use 8 to 12 kg of aluminium. A ₹40/kg spike adds ₹320 to ₹480 per vehicle in direct material cost, compressing margins by 50 to 100 bps at the operating level.