India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Thematic (Sector/Industry)

<h2>Private sector capex has not picked up</h2><p>In the recent past, there are several Indian E&amp;C companies which have talked about their high dependence on public sector capex and why they are not positive on revival of private sector capex. The largest E&amp;C company in India, <a href="https://www.smartkarma.com/entities/2499" target="_blank" data-smartkarma-citation="entities:2499:1">Larsen &amp; Toubro (LT IN)</a> said in their Q1 results a few days ago that that it is the public sector which continues to drive order inflows while the private sector is not very positive on capex. <a href="https://www.smartkarma.com/entities/2499" target="_blank" data-smartkarma-citation="entities:2499:1">Larsen &amp; Toubro (LT IN)</a> expects order…</p>

Private sector capex has not picked upIn the recent past, there are several Indian E&amp;C companies which have talked about their high dependence on public sector capex and why they are not positive on revival of private sector capex. The largest E&amp;C company in India, Larsen &amp; Toubro (LT IN) said in their Q1 results a few days ago that that it is the public sector which continues to drive order inflows while the private sector is not very positive on capex. Larsen &amp; Toubro (LT IN) expects order…

India E&C: Top Companies Aren't Hopeful On Private Capex, RBI Survey Confirms the Fear

<h2>More than 3x bids in <a href="https://www.smartkarma.com/entities/11842" target="_blank" data-smartkarma-citation="entities:11842:1">NTPC Ltd (NTPC IN)</a>'s 2,000 MW solar tender</h2><p>India's largest power utility <a href="https://www.smartkarma.com/entities/11842" target="_blank" data-smartkarma-citation="entities:11842:1">NTPC Ltd (NTPC IN)</a>'s most recent tender for 2,000 MW solar capacity has generated massive interest among solar companies and investors. The tender was oversubscribed three-fold with 6,200 GW of technical bid submissions. <em><strong>The more interesting part is that Softbank's joint venture, SBG Cleantech is the largest bidder and it has submitted a bid for the full 2,000 MW capacity.</strong></em></p><p>The bidders and the capacity…</p>

More than 3x bids in NTPC Ltd (NTPC IN)'s 2,000 MW solar tenderIndia's largest power utility NTPC Ltd (NTPC IN)'s most recent tender for 2,000 MW solar capacity has generated massive interest among solar companies and investors. The tender was oversubscribed three-fold with 6,200 GW of technical bid submissions. The more interesting part is that Softbank's joint venture, SBG Cleantech is the largest bidder and it has submitted a bid for the full 2,000 MW capacity.The bidders and the capacity…

India Power Sector: Enter Softbank and Competition Gets More Intense in Solar, Is It Good for All?

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2026 index rebal event.</li>
<li>We see one change for NIFTY 50 and five changes for NIFTY 100.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names
In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the September 2026 index rebal event.
We see one change for NIFTY 50 and five changes for NIFTY 100.


Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Derivatives

<ul>
<li>Union Cabinet cleared a INR 37,500 crore viability-gap scheme to accelerate surface coal and lignite gasification, targeting 75MTPA, bringing 25 additional projects alongside four already underway.</li>
<li>India's FY25 import bill for LNG, urea, ammonia, and methanol stood at INR 2.77 lakh crore. Coal gasification at scale could structurally compress this bill worth INR 60,000–90,000 crore annually.</li>
<li>The scheme is structurally positive, but commissioning risk and India's high-ash coal challenge mean execution separates eventual winners. CIL, BHEL, and GAIL stand out as near-term direct beneficiaries .</li>
</ul>


Union Cabinet cleared a INR 37,500 crore viability-gap scheme to accelerate surface coal and lignite gasification, targeting 75MTPA, bringing 25 additional projects alongside four already underway.
India's FY25 import bill for LNG, urea, ammonia, and methanol stood at INR 2.77 lakh crore. Coal gasification at scale could structurally compress this bill worth INR 60,000–90,000 crore annually.
The scheme is structurally positive, but commissioning risk and India's high-ash coal challenge mean execution separates eventual winners. CIL, BHEL, and GAIL stand out as near-term direct beneficiaries .


37,500Cr Coal Gasification Scheme: These Indian Companies Will Benefit

<h2>Trend Reversal: India's coal imports grew in FY18</h2><p>After falling for two years, India's coal import grew 8.1% in FY18. The import data from Centre for Monitoring Indian Economy (CMIE) reflected the coal imports at 213 million tonnes (MT) in FY18, up from 195 MT in FY17. After a peak of 215 MT in 2014-15, coal imports had declined to 207 MT in FY16 and to 195 MT in FY17. The Government has been talking about eliminating the coal imports altogether, but there are serious problems with domestic coal…</p>

Trend Reversal: India's coal imports grew in FY18After falling for two years, India's coal import grew 8.1% in FY18. The import data from Centre for Monitoring Indian Economy (CMIE) reflected the coal imports at 213 million tonnes (MT) in FY18, up from 195 MT in FY17. After a peak of 215 MT in 2014-15, coal imports had declined to 207 MT in FY16 and to 195 MT in FY17. The Government has been talking about eliminating the coal imports altogether, but there are serious problems with domestic coal…

India: Increasing Coal Imports - Implications for Coal India Ltd, Power Sector and the Economy

India

Bharat Heavy Electricals Limited manufactures power plant equipment. The Company's products include gas turbines, generators, thermal sets, diesel shunters, turbo sets, hydro sets, power transformers, switch gears, circuit breakers and boilers. The Company also manufactures compressors, valves, rectifiers, pumps, capacitors, oil rigs, as well as castings and forgings.

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Bharat Heavy Electricals (BHEL IN)

India E&C: Top Companies Aren't Hopeful On Private Capex, RBI Survey Confirms the Fear

Private sector capex has not picked upIn the recent past, there are several Indian E&C companies which have talked about their high dependence...

Pankaj Sharma

India Power Sector: Enter Softbank and Competition Gets More Intense in Solar, Is It Good for All?

More than 3x bids in NTPC Ltd (NTPC IN)'s 2,000 MW solar tenderIndia's largest power utility NTPC Ltd (NTPC IN)'s most recent tender for 2,000 MW...

Pankaj Sharma

Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

The NIFTY 50 expected ADD/DEL could trigger US$640mn in one-way flows. There could be more changes for NIFTY 100 which could collectively trigger...

Janaghan Jeyakumar, CFA

37,500Cr Coal Gasification Scheme: These Indian Companies Will Benefit

Union Cabinet approves INR 37,500 crore scheme to boost coal gasification, aiming to reduce India's import bill for LNG, urea, ammonia, and...

Sudarshan Bhandari

India: Increasing Coal Imports - Implications for Coal India Ltd, Power Sector and the Economy

Trend Reversal: India's coal imports grew in FY18After falling for two years, India's coal import grew 8.1% in FY18. The import data from Centre...

Pankaj Sharma

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52-week Range

Market Cap (USDm)

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India E&C: Top Companies Aren't Hopeful On Private Capex, RBI Survey Confirms the Fear

Private sector capex has not picked upIn the recent past, there are several Indian E&C companies which have talked about their high dependence...

Pankaj Sharma

India Power Sector: Enter Softbank and Competition Gets More Intense in Solar, Is It Good for All?

More than 3x bids in NTPC Ltd (NTPC IN)'s 2,000 MW solar tenderIndia's largest power utility NTPC Ltd (NTPC IN)'s most recent tender for 2,000 MW...

Pankaj Sharma

Quiddity Leaderboard NIFTY Sep26: Many Changes Likely; ~US$950mn Collective One-Way Flows

The NIFTY 50 expected ADD/DEL could trigger US$640mn in one-way flows. There could be more changes for NIFTY 100 which could collectively trigger...

Janaghan Jeyakumar, CFA

37,500Cr Coal Gasification Scheme: These Indian Companies Will Benefit

​Union Cabinet approves INR 37,500 crore scheme to boost coal gasification, aiming to reduce India's import bill for LNG, urea, ammonia, and...

Sudarshan Bhandari

India: Increasing Coal Imports - Implications for Coal India Ltd, Power Sector and the Economy

Trend Reversal: India's coal imports grew in FY18After falling for two years, India's coal import grew 8.1% in FY18. The import data from Centre...

Pankaj Sharma

Union Cabinet approves INR 37,500 crore scheme to boost coal gasification, aiming to reduce India's import bill for LNG, urea, ammonia, and...