In today’s briefing:
- All You Need to Know About Anil Ambani’s 17000Cr Loan Fraud Case
- Knowledge Realty Trust IPO – Steady FY25 Growth, Digestible Pricing
- July’s Insider Playbook – Buying Activity In 14 Small Cap Companies
- KPIT Tech (“KPIT”): Decent Q1FY26 Despite Tough Macro
- Lucror Analytics – Morning Views Asia
All You Need to Know About Anil Ambani’s 17000Cr Loan Fraud Case
- Anil Ambani is being investigated by the ED for a massive INR 17,000 crore loan fraud case involving Reliance Group companies.
- The case centers on allegations of fund diversion and financial irregularities related to loans from a consortium of nearly 20 public and private banks.
- The investigation is being conducted under the PMLA, which involves even arrest and a parallel probe by SEBI into alleged fund diversion by Reliance Infrastructure.
Knowledge Realty Trust IPO – Steady FY25 Growth, Digestible Pricing
- Knowledge Realty Trust (258259D IN) is looking to raise around US$551m in its India IPO. It has undertaken a pre-IPO placement round of around INR14bn (US$160m) in June 2025.
- Knowledge Realty Trust (KRT) owns and manages a high-quality office portfolio in India covering 87% of India’s office supply and gross absorption between CY16-1QCY25, as per the CBRE report.
- In our earlier notes, we have looked at the company’s past performance. In this note, we talk about implied valuations in the IPO price range.
July’s Insider Playbook – Buying Activity In 14 Small Cap Companies
- July 2025 saw significant buying by promoters and key management in 14 companies, signaling insider confidence across diverse sectors.
- Engineering, Pharmaceuticals, Consumer, Infrastructure, and Financials stood out with consistent insider purchases.
- Notable Companies:Shoppers Stop (SHOP IN),Anup Engineering (ANUP IN), D.B. Corp Ltd (DBCL IN) , La Opala Rg Ltd (LOG IN) , and Paisalo Digital (PAISALO IN) saw aggressive accumulation.
KPIT Tech (“KPIT”): Decent Q1FY26 Despite Tough Macro
- KPIT reported a decent Q1FY26 considering the tough macro environment faced by its global auto OEM clients, who are struggling due to tariff uncertainty and intense competition from China OEMs.
- KPIT announced new deal wins worth $241mm vs typical run-rate of $170mm. Q1FY26 revenue grew 4.9% YoY and -3.2% QoQ in constant currency terms, led by Powertrain and Connected domains.
- A key highlight of Q1FY26 was KPIT announcing partnership with JSW for its new EV vehicle program. EBITDA margin stayed steady at 21% led by operational efficiency and currency gains.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Ports, Tata Motors
- UST yields fell slightly yesterday, led by the long end, with yield movements muted ahead of this week’s heavy slate of bond auctions. The yield on the 2Y UST declined 1 bp to 3.68%, while the yield on the 10Y UST fell 2 bps to 4.19%.
- Equities recovered from last Friday’s sell-off, driven by solid earnings and expectations of Fed rate cuts.
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