STOCK MARKET UPDATES 📈

HYUNDAI CAPITAL STARTS FINANCIAL SERVICES IN INDIA It started wholesale financing after obtaining an NBFC licence Initially Hyundai Capital will focus on wholesale financing for automotive dealers Hyundai Motor Group too is expanding local production capacity Hyundai Capital will expand its operations in phases

ETERNAL Zomato Bans Analogue Dishes On Its Platform To Delist Non-compliant Restaurants Over Analogue Dairy Restaurant Partners Directed To Transition To Natural Dairy Products

KARUR VYSYA BANK: EXPANDS BRANCH NETWORK TO 919 • Karur Vysya Bank inaugurated 16 new branches across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Delhi NCR. • Total branch network increased to 919 branches. • Expansion aimed at strengthening presence in key markets and serving retail, MSME and agricultural customers. • Bank reported its highest-ever quarterly net profit of ₹756 crore in Q1 FY27. • Total business stood at ₹2,27,267 crore as of June 30, 2026.

Capri Global says: AUM at ₹40,000 Cr; targets ₹1 lakh Cr AUM in ~3 yrs 🟡 Gold loans could account for 50–55% of AUM in ~3 years, no plans to separately list the gold business Could look at a fund raise over coming quarters

Good opportunity to stock up sulphuric acid. Full report on AJC Weekly Brief: Fertilisers

BDL, BEL IN FOCUS Reports Say IAF & DefenceMin considering expansion of surface-to-air missile inventory 👉Govt plans an order for around 1,000 Akash-NG Missiles 👉Alert: BharatDynamics is a prodn partner for India’s surface-to-air missile programme 👉Alert: BEL as per the analyst call: co will bid to be a lead indicator

MAHAMAYA STEEL Co approved increase in limits for Loans/Guarantee/Investment u/s 186 upto Rs. 900 Crores and Loan/Guarantee/Security u/s 185 upto Rs. 300 Crores to group entities, subject to shareholders Approval

C.E INFO: MAPMYINDIA MAPPLS PARTNERING WITH CLARITYX TO LAUNCH ‘GEO-FI’ INDIA’S FIRST COMPREHENSIVE GEO-INTELLIGENCE STACK FOR LENDING.

TATA POWER: RENEWABLE PORTFOLIO HITS 12.3 GW • Tata Power Renewable Energy commissioned a 100 MW Group Captive Solar Project at Kayathar, Tamil Nadu. • Operational renewable capacity has crossed 7 GW, comprising 5.7 GW solar + 1.3 GW wind. • Total utility-scale renewable portfolio stands at 12.3 GW, including 5.3 GW under development. • The 100 MW project will supply clean power to TP Solar’s 4.2 GW manufacturing facility and Tata Realty & Infrastructure. • Project expected to generate 240.63 million units of electricity annually and offset around 1.5 lakh tonnes of CO₂ per year. • Pipeline includes 2.2 GW solar + 3.1 GW wind projects, targeted for commissioning over the next 6–24 months.

INDEGENE | GROWTH CATALYSTS Tectonic Scale-Up - Tectonic customers increased from 2 to 5 in FY26. - Largest customer engagement expanded from Germany to Spain. - Management expects this customer to become the first $50M+ account. - Tectonic could become a major FY27 Enterprise Commercial growth driver. Outcome-Based Omnichannel Deal - Multiyear deal secured with >$10M ACV. - Revenue recognition expected from Q3 FY27. - Client has already reported revenue upticks for 5 months. - Management describes early performance as very encouraging. BioPharm Integration - $106M BioPharm acquisition closed on Oct 1, 2025. - Integration and service transition progressing as planned. - BioPharm revenue grew 15% sequentially in Q4 FY26. - Joint business development has already generated 2 omnichannel wins. - Cross-selling into existing Indegene customers creates additional upside. Omnichannel Orchestration - Top-10 pharma customer selected Indegene for U.S. omnichannel orchestration. - Platform includes Invisage and Tandem. - Potential annual revenue exceeds $10M. - Revenue contribution expected from Q2 FY27. - Top-5 pharma customer also selected Indegene for content-platform migration. Agentic AOR Model - Agency-of-Record model reduced creative development from 3 months to 3 days. - Concept development cost reduced by ~50%. - Advanced discussions underway for the next phase with a multinational pharma company. - Successful proof of concept can support broader adoption. Client Base Expansion - Active clients increased to 105 in Q1 FY27. - Up from 70 clients a year earlier. - Customers outside the top 20 contributed 33.4% of revenue. - Million-dollar-plus clients increased from 40 to 54. - 12 customers now generate >$10M annually. - Broader customer base reduces dependence on individual accounts. Margin Recovery - Management targets 19–20% EBITDA margin by Q4 FY27. - Recovery expected around six quarters after Oct 2025 investment phase began. - Revenue per employee reached $77,100 in Q1 FY27. - Revenue per employee increased 14.2% YoY. - Employee growth expected to remain below revenue growth. - Operating leverage can support margin recovery. Launch Engine Wins - Secured $20M TCV deal with a midsized biotech. - Indegene to act as end-to-end commercialization partner. - First-year revenue potential: ~$5M. - European pharma customer added launch-readiness engagement. - Scope could expand into data analytics. Pharmacovigilance Expansion - Secured $7.5M multiyear TCV deal. - Customer is a large medical-devices company. - Programme went live in Jan 2026. - Uses AI-based NAEM technology. - Previous medical-device pharmacovigilance win demonstrates cross-sell potential. - Expanding beyond pharma into medical devices adds another growth avenue. KEY TAKEAWAY - Tectonic provides a potentially large FY27 growth driver. - BioPharm adds scale and cross-selling opportunities. - Omnichannel orchestration is generating sizeable enterprise contracts. - Agentic AOR can improve both speed and economics. - Client diversification is strengthening the revenue base. - Margin recovery could provide an additional earnings lever. - Launch Engine and pharmacovigilance expand the addressable opportunity.

KEI says FY27 EXPORT GUIDANCE MAINTAINED AT 17–18% OF REVENUE; STRONG H2 RECOVERY EXPECTED AS MIDDLE EAST SHIPMENTS RESUME & U.S. DEMAND RECOVERS KEI INDUSTRIES: CO WILL MAINTAIN 11 - 12% EBIT MARGIN - INTERVIEW

GALA PRECISION: CO'S CHENNAI FACILITY IS RAMPING FROM 35% IN FY26 TO 70% IN FY27, SUPPORTING CAPACITY-LED GROWTH.

PARK MEDI WORLD: TO INCORPORATE WHOLLY-OWNED SUBSIDIARY • Board approved incorporation of a wholly-owned subsidiary to be named Park Medicity Prayagraj Ltd / Park Hospital Prayagraj Ltd, subject to MCA approval. • New subsidiary will develop and operate a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh. • Project to be developed under the PPP model with Prayagraj Municipal Corporation. • Holding: 100% subsidiary of Park Medi World. • Industry: Healthcare services • Investment: ₹0.15 crore, comprising 1.5 lakh equity shares of ₹10 each. • The subsidiary will be incorporated in India through a cash investment.

ATHER ENERGY, TARUN MЕНТА SAYS We've Got To Do Higher Volumes, Otherwise Our Contribution Is Very Little Konarc Was Conceptualised On A New Platform Which Was Conceptualised To A Price Target Believe Consumers Will See Merit In Paying Us A Premium 1-1.2 Lakh Price Segment Has Always Been Very Important Almost 25-50% Of The Industry Is In These Price Points Rizta Is Already One Of Our Highest Gross-Margin Portfolios

HFCL IN FOCUS INDIA EVALUATES PLAN TO REPLACE LEGACY TELECOM GEAR FROM CHINA'S HUAWEI, ZTE; ASSESSES COST IMPACT THE GOVERNMENT IS LOOKING TO ESTABLISH THE EXTENT OF THIS LEGACY EQUIPMENT AND UNDERSTAND THE FINANCIAL IMPLICATIONS OF REPLACING IT

ATHER: CO'S CEO SAYS NEW KONARC EV SCOOTER COULD ACCOUNT FOR MORE THAN 50% OF REVENUE IN A YEAR

VA TECH WABAG: MANAGEMENT DESIGNATION CHANGE • VA Tech Wabag has approved the change in designation of Mr. Rohan Mittal to Chief Commercial & Development Officer – MEA, effective September 1, 2026. • The promotion recognises his contribution to business expansion and market positioning in the GCC region. • He has been involved in securing major water infrastructure projects in the region. • Rohan Mittal is the son of the company’s Chairman & Managing Director.

ZEE Canara, Union Bk Move NCLAT, Challenge NCLT Order In Subhash Chandra Personal Guarantee Case Banks Seek Urgent Hearing, Likely To Press For A Stay Of The NCLT Order

Gujarat Ambuja Exports Buzzing In Trade Up 26% This Year Global Corn-Prices At 3-Year High

ATHER ENERGY: KEY MANAGEMENT COMMENTS ON KONARC • Management believes consumers will pay a premium for Ather’s products. • Konarc is built on a new platform designed to target a larger mass-market opportunity. • Management says higher volumes are critical, as low volumes would have limited contribution to the business. • Around 25–50% of the industry operates in Konarc’s targeted price points. • Konarc is expected to have higher margins than Rizta. • Company sees significant potential to scale volumes through Konarc.