Jaspreet Singh

TATA GROUP CHAIRMAN ON AIR INDIA CRASH We are deeply anguished by the tragic event involving Air India Flight 171. No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured. Tata Group will provide *1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support. Additionally, we will provide support in the building up of the BJ Medical's hostel. We remain steadfast in standing with the affected families and communities during this unimaginable time.

Time Technoplast Ltd. Is powering ahead - targeting a whopping $9,139 million EBITDA by 2027! 📈 Which side of story excites you more? Drop your emoji: 🚀 If you’re bullish on Technoplast ☁️ If you want to know more 📊 If you’re tracking other industrial giants too!

Key Stock Updates 🔸 BEL receives orders worth ₹2,323 crore from Mazagon Dock & Garden Reach Shipbuilders for missile system spares on Indian Naval ships. Our View: * YTD FY26 orders now at ₹5,515 crore * Order backlog at ₹77,800 crore (3.2x FY25 revenue) * Robust order book ensures strong revenue visibility. * Pipeline remains healthy with major defence deals expected in FY26E. * Management guides inflows of ₹25,000+ crore. 🔸 NTPC Green Energy declares commercial ops for 110.25 MW at Khavda-I Solar PV Project. Our View: * Total green energy capacity now at 6,162 MW. * Another step towards NTPC Green’s vision of 20 GW by FY27 and 60 GW by FY32. 🔸 PowerGrid commissions Part C of Gujarat Transmission Network Expansion Project with approved investment of ₹187 crore. Our View: * Strengthens transmission infra in Gujarat. * Expected to support revenue and profitability growth as other project phases progress.

The RBI's Monetary Policy Committee today reduced the Repo Rate to 5.5%, marking a clear move toward monetary easing. - The Standing Deposit Facility (SDF) rate is now 5.25%. - ⁠The Marginal Standing Facility (MSF) and Bank Rate are decreased to 5.75%. 🔸The RBI's moves are designed to boost credit off-take and maintain margin stability for lenders. 🔸For Banks, Repo Rate cut might initially pressure margins due to faster loan transmission, the CRR cut is expected to largely offset this, providing marginal stability. 🔸 NBFCs stand to gain significantly, boosting credit off-take and profitability. 👆 Check out the beneficiaries of rate cut

Key Stock Updates 🔸 Ashok Leyland bags an order worth ~₹183.8 crore from Tamil Nadu State Transport Corporation to supply 543 BS VI diesel buses (chassis & fully built), for delivery between June–December 2025. 🔍 Our View: Follows earlier orders worth ~₹345.6 crore (Dec’24) and ~₹123 crore (Feb’25) from the same entity. - With infra capex, ageing fleets, and rising replacement demand, the bus segment remains the domestic CV growth driver. - Growing order book should help reverse the FY26 YTD volume dip of 6.6% YoY. 🔸 Tata Motors unveils Harrier EV (launch: June 3), starting at ₹21.49 lakh. Offers real-world range of 480–505 km with 65 & 75 kWh battery options. Bookings open July 2. 🔍 Our View: - TML remains PV EV leader, though growth has slowed. - May EV volumes stood at 5,685 units (+2% YoY). - Harrier EV launch may revive momentum. Strong lineup and pricing support TML’s position despite rising competition. 🔸 Yes Bank approves fundraising: - ₹7,500 crore via equity (max 10% dilution) - ₹8,500 crore via debt - SMBC retains pro-rata rights and board seats; SBI to continue with one nominee director. 🔍 Our View: Strengthens capital buffers and strategic stability, though rerating hinges on execution and approvals. 🔸 L&T secures EPC orders in Rajasthan for rural water supply projects — includes pipelines, 38 ground reservoirs, and 132 overhead tanks. Order size: ₹1,000–₹2,500 crore. 🔍 Our View: - Water segment order book at ₹60,000 crore. L&T remains upbeat on growth in this vertical.

Nifty 50 crossed the 25,000 mark for the first time since October 17, 2024, with 49 of the 50 Nifty constituents ending in the green. Hero MotoCorp led the gains on the index, while Tata Motors jumped over 4%. _Check out the top sectoral indices that drove today’s momentum_

🪖The Nifty India Defence Index rose by 3.04% on May 9, with sizeable gains in shares of missiles and electronic warfare equipment manufacturers. 🔸 HAL holds a near-monopoly in fighter jet and helicopter production. As of FY24, it has an order book of ₹94,100 crore and a pipeline of projects worth ₹4.4 lakh crore. 🔸 BEL, a key Defence PSU, specializes in radar systems, electronic warfare, and missile integration. Its FY24 order book stands at ₹71,600 crore with a pipeline of ₹1.1 lakh crore. 👆 Check out India's other leading defence stocks

Gift City (Gujarat International Finance Tech-City) is the rebranded version of SGX Nifty. 🔸It is an umbrella brand that includes four products- Gifty Nifty50, Gift Nifty Bank, Gift Nifty Financial Services and Gift Nifty IT derivative contracts. 🔸The move from SGX Nifty to GIFT Nifty aims to bring back offshore trading volumes, and boost India’s image as a global financial hub.

📊⛱️ *Quick overview of the key segments in summer appliances:* 🔸 *Air Conditioners* - The Indian room air-conditioner market (~10 mn units in FY24) is set to grow 25%+ in FY25E, driven by rising temperatures - Voltas leads with a 20.5% share, followed by Blue Star (~14%) 🔸 *Coolers* - India's air cooler market (Rs 5,000 cr) is expected to double in 5–7 years. With only 19% household penetration, there is room for steady growth. - Symphony dominates with ~50% share while Crompton and Bajaj also have a presence 🔸 *Fans* - While overall fan volumes are growing in mid-single digits, premium and BLDC fans are seeing double-digit growth. This trend is likely to stay strong through the summer season - ⁠Among listed companies, Crompton and Bajaj Electricals are key players.

News Update 🔶 NMDC hikes iron ore prices by ₹440/tonne in Bailadila region ~ New Lump: ₹6,440 | Fines: ₹5,500 ~ Driven by steel price recovery & 12% safeguard duty ~ Near-term stock triggers remain limited; neutral view maintained 🔶 NCC bags new orders worth ₹1,663 Cr in April ~ ₹1,082 Cr – Building | ₹581 Cr – Transportation ~ FY25 inflows exceed ₹28,500 Cr, beating guidance ~ Boosts growth visibility ahead 🔶 Dixon Tech forms JV with Taiwan’s Inventec (60:40) ~ To manufacture notebooks, desktops, servers in India ~ Strengthens IT hardware push; Dixon already works with HP, Acer, Asus & Lenovo ~ Aims ₹48,000 Cr cumulative revenue in 6 years from this segment 🔶 NTPC commissions 75 MW under Ircon Renewable Solar Project ~ Total: 225 MW commissioned out of 500 MW ~ PPA signed at ₹2.45/unit; final commissioning expected by Sept 2025

Air Conditioner♨️Demand Heats Up 📈 🔸The Indian Room AC market hit ~10 million units in FY24– to grow ~25% in FY25E, driven by rising temperatures. 🔸Projected Q4 growth to exceed 30%. Exemptions for compressors ≥2 tonnes and the PLI scheme support local manufacturing initiatives. Top Picks: - Voltas (~20.5% market share) - Blue Star (~14%) - Johnson Hitachi, Amber Enterprises, and PG Electroplast.