india Archives | Page 16 of 153 | Smartkarma

In today’s briefing:

The Beat Ideas: LIC Housing Finance- RoA at Decade High, Valuation Near Lows?
Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential
Hexaware Technologies (HEXT IN): Addition to One Global Index, Potential Deletion from the Other
Lucror Analytics – Morning Views Asia
Emmvee Photovoltaic Power Ltd Pre-IPO Tearsheet

The Beat Ideas: LIC Housing Finance- RoA at Decade High, Valuation Near Lows?

India’s largest HF company with a stable loan book, supported by LIC’s parentage and a focus on salaried home loans, shows its fundamental strength.
The company demonstrates robust operational performance, marked by a decade-high 1.83% Return on Assets (RoA) and a competitive 16% Return on Equity (ROE).
It targets future growth by efficiently managing borrowing costs and strategically diversifying into higher-margin segments like project finance and LAP/LRD.

Can Ola Electric Stage a Strong Comeback? Analyzing Its Current Performance & Future Potential

Ola Electric reported a strong 35.5% QoQ increase in revenue, with a significant 32.7% increase in vehicle deliveries
Overall company showed a rebound and improvement in operational and financial performance, along with strong guidance for FY26.
Though the company continue to face key headwinds in terms of cost pressures, rare-earth related macro headwinds along with increased competition and regulatory challenges.

Hexaware Technologies (HEXT IN): Addition to One Global Index, Potential Deletion from the Other

By Dimitris Ioannidis

Hexaware Technologies (HEXW IN) went public on the NSE on 19 February 2025. Since then, the price has surged 20%, resulting in a market cap of ~$6.0bn.
The security is forecasted to be added to Global All-World at the September 2025 review, having surpassed the market cap and float cap thresholds.
If the price continues to rise, the security may be assigned to Global Standard, which could result in deletion from SmallCap without inclusion in Standard due to insufficient float cap.

Lucror Analytics – Morning Views Asia

By Tanvi Arora

In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Green Energy, Yanlord Land, China Vanke
The UST curve bear-steepened marginally yesterday, in line with a steepening in the JGB curve and amid an absence of macro news. The yield on the 2Y UST rose 1 bp to 3.90%, while the yield on the 10Y UST was up 2 bps at 4.44%.
Equities shrugged off earlier losses to end the day marginally higher, after US President Donald Trump told reporters there could be trade talks, including with Europe. The S&P 500 rose 0.1% to 6,269, while the Nasdaq was up 0.3% at 20,640. The market focus today is on the US CPI for June.

Emmvee Photovoltaic Power Ltd Pre-IPO Tearsheet

Emmvee Photovoltaic Power Limited (0198068D IN) (EPPL) is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are JM Fin, IIFL, Jefferies, Kotak.
EPPL is an integrated solar PV module and cell manufacturer offering advanced technologies like TOPCon and Mono PERC.
According to the CRISIL Report, as on Mar 25, EPPL was the second largest pure-play integrated solar photovoltaic (PV) module and solar cell manufacturer in India by production capacity.

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Jul 15

Daily Brief India: Travel Food Services, Anthem Biosciences, Bombay Stock Exchange, Glenmark Pharmaceuticals and more

In today’s briefing:

Travel Food Services IPO Trading – Decent Anchor; Subdued Overall Demand
Anthem Biosciences IPO – Thoughts on Peer Comp and Valuation
Anthem BioSciences IPO Analysis ~ The Fastest-Growing Indian CRDMO
Anthem Biosciences IPO: Despite 100% OFS, Worth Accumulating for Long-Term Compounding
BSE Derivative Volumes Hit by Jane Street Ban, Volatility Slump: EPS Cuts & Near-Term Downgrade
Glenmark’s R&D Leap: How a Large Biotech Liscensing Deal with AbbVie Could Change Its Fortune

Travel Food Services IPO Trading – Decent Anchor; Subdued Overall Demand

Travel Food Services Ltd (1450229D IN) raised about US$233m in its India IPO.
Travel Food Services Limited (TFS) operates a network of travel quick service restaurants (Travel QSRs) and private lounges in airports.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.

Anthem Biosciences IPO – Thoughts on Peer Comp and Valuation

Anthem Biosciences (1234D IN) is looking to raise about US$397m in its India IPO.
Anthem Biosciences (ABS) is a contract research, development and manufacturing organisation (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the peer comp and IPO valuations.

Anthem BioSciences IPO Analysis ~ The Fastest-Growing Indian CRDMO

Anthem Biosciences (1234D IN) is launching a 3,395 crore IPO via a complete OFS, with a price band of INR 540–570 per share, open from July 14 to July 16.
Company is a fully integrated CRDMO with capabilities across drug discovery, development, and manufacturing for both small molecules and biologics, serving 550+ customers globally.
The company is undertaking a major capacity expansion, set to make its fermentation capacity over 6x larger than the second-largest Indian CRDMO player post-expansion.

Anthem Biosciences IPO: Despite 100% OFS, Worth Accumulating for Long-Term Compounding

By Sreemant Dudhoria,CFA

Strong Revenue Momentum and Profitability:Anthem Biosciences (1234D IN) achieved INR 18.4bn in revenue in FY25, growing 25% CAGR over FY20–FY25,with industry-leading EBITDA margins of 36.8% and PAT margin of 23.4%
Unique Dual Capability in Biologics and Small Molecules:Among the few Indian CRDMOs with end-to-end capabilities across both small and large molecules, and technology-driven portfolio including ADCs, RNAi, peptides, and oligonucleotides
Peer-Leading Returns and Robust Pipeline: Anthem boasts the highest ROCE (26.9%) among Indian peers, with significant IP-backed revenue streams and global molecule commercialization. It is a BUY for long term.

BSE Derivative Volumes Hit by Jane Street Ban, Volatility Slump: EPS Cuts & Near-Term Downgrade

BSE’s Option Premium ADTO in July MTD is down 25% MoM to INR 105bn amid lower market volatility and regulatory overhang from SEBI’s ban on Jane Street.
This weakness has triggered another 6–8% volume cut assumption in the market, on top of the 4–5% volume cut in June 2025.
BSE will face pressure in the near-term due to lower volume and valuation pressure, but long-term optimism tied to earnings if volumes normalize and reforms push investors toward cash equities.

Glenmark’s R&D Leap: How a Large Biotech Liscensing Deal with AbbVie Could Change Its Fortune

Glenmark Pharmaceuticals (GNP IN) signed the world’s fourth-largest biotech licensing deal by upfront value, receiving $700 million from AbbVie for its cancer drug ISB 2001.
The agreement grants AbbVie global rights for key markets while Glenmark retains Emerging Market access, unlocking $1.9 billion in total potential proceeds.
This transforms Glenmark into a net-cash company, funds IGI’s R&D pipeline, delays IPO needs, and positions India as a serious biotech innovation hub.

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Jul 14

Daily Brief India: Indian Energy Exchange Ltd, NSDL, JSW Steel Ltd, Tata Steel Ltd and more

In today’s briefing:

IEX Powers Ahead: Volume Growth Signals Strong Q1 and Strategic Evolution
NSDL IPO: The Bear Case
JSW Steel: Steady Output Amid Pricing Pressure; Record Volumes Likely Ahead
Tata Steel – 1QFY26: Stable Output, Soft Deliveries Amid Planned Maintenance

IEX Powers Ahead: Volume Growth Signals Strong Q1 and Strategic Evolution

Volume Data: IEX volumes rose 15% YoY in Q1 FY26, led by strong RTM and Green Market growth.
Near-Term Outlook: Higher volumes should lift Q1 earnings, with EBITDA and PAT expected to rise ~22%.
Future Plans: IEX is launching new products like G-RTM and LDCs, and investing in P2P and smart grid tech.

NSDL IPO: The Bear Case

By Arun George

National Securities Depository Limited/NSDL (NSDL IN) is the largest depository in India. It is seeking to raise US$400 million.
In NSDL IPO: The Bull Case, I highlighted the key elements of the bull case. In this note, I outline the bear case.
The bear case rests on the core business’s lower growth and margins compared to its key peer and the banking services’ weak performance.

JSW Steel: Steady Output Amid Pricing Pressure; Record Volumes Likely Ahead

Volume: JSW Steel reported 7.26 Mnt of crude steel production in Q1 FY26, up 14% YoY, despite seasonal and maintenance-related disruptions.
Expansion: The company is on track to scale up its capacity from 35.7 MTPA to 43.4 MTPA by FY28, led by ramp-ups at Vijayanagar, Dolvi, and greenfield Odisha.
BPSL: Legal clarity on the BPSL acquisition remains pending, though operations have been successfully ramped up to 4.5 MTPA under JSW’s management.

Tata Steel – 1QFY26: Stable Output, Soft Deliveries Amid Planned Maintenance

Tata Steel’s total crude steel production stood at 7.29 million tons in 1QFY26, flat YoY but down 3% QoQ due to upstream maintenance disruptions in India.
In Europe, the Netherlands saw steady output, while the UK is progressing with its 3.2 MTPA EAF transition at Port Talbot, slated to begin construction in July 2025.
With blast furnace relining at Jamshedpur nearing completion and NINL operations normalized, volume recovery is expected from Q2 onward.

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Jul 13

Daily Brief India: Anthem Biosciences and more

In today’s briefing:

IPO Review – Anthem Biosciences – Pioneering Pharma CRDMO with Advanced Capabilities – Fairly Priced

IPO Review – Anthem Biosciences – Pioneering Pharma CRDMO with Advanced Capabilities – Fairly Priced

By Himanshu Dugar

Anthem is a CRDMO platform with 5 main modalities (RNAi, ADC, peptides, lipids and oligonucleotides) and 4 manufacturing capabilities (custom synthesis, flow chemistry, fermentation and biotransformation).
With its aggressive focus on emerging biotech; industry tailwinds, upcoming capacities in fermentation and CSM; they are positioned for 20+% revenue growth and industry leading operating margins of 35+%.
We estimate FY26 EPS of INR 9-11, implying IPO multiple of 50-62x earnings. Truenorth and Portsmouth holding 3.9% and 2.7% post-IPO creates a technical overhang.

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Jul 12

Daily Brief India: Anthem Biosciences, Smartworks Coworking Spaces Ltd, Juniper Green Energy Ltd and more

In today’s briefing:

Anthem Biosciences IPO – D&M Vertical Continues to Drive CRDMO Business
Smartworks Coworking Spaces Ltd. IPO – Should You Sign the Lease?
Juniper Green Energy Ltd Pre-IPO Tearsheet
Anthem Biosciences IPO: FY25 In High Trajectory; Poised for Long-Term Growth; Attractive IPO Pricing

Anthem Biosciences IPO – D&M Vertical Continues to Drive CRDMO Business

Anthem Biosciences (1234D IN) is looking to raise about US$397m in its India IPO.
Anthem Biosciences (ABS) is a contract research, development and manufacturing organisation (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the RHP updates.

Smartworks Coworking Spaces Ltd. IPO – Should You Sign the Lease?

Smartworks, India’s largest managed campus operator, is launching a INR 582.56 crore IPO, combining fresh issue and OFS to fund expansion and reduce debt.
Smartworks shows strong growth in operational metrics and high occupancy underline rising demand, but consistent losses, high debt, and client concentration remain key concerns.
While the industry outlook is robust, the success depends on Smartworks achieving profitability, managing risk, and sustaining client retention in a competitive market.

Juniper Green Energy Ltd Pre-IPO Tearsheet

Juniper Green Energy Ltd (1831458D IN) (JGEL) is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are ICICI, HSBC, JM Fin, Kotak.
JGEL is an independent power producer (IPP) engaged in the development, construction, operation, and maintenance of utility-scale renewable energy projects.
According to the CRISIL Report, JGEL ranked among the top 10 largest renewable IPPs in India by total capacity as of Dec 24.

Anthem Biosciences IPO: FY25 In High Trajectory; Poised for Long-Term Growth; Attractive IPO Pricing

By Tina Banerjee

Anthem Biosciences has filed RHP to raise INR34B (~$395M) through its Indian IPO consisting of only an offer for sale of equity shares. The IPO will open on July 14.
The IPO has been priced at INR540–570 per share. Considering FY25 EPS of INR8.07, Anthem seeks P/E valuation of 66.9–70.6x, which is lower than most of the peers.
With niche and differentiated technical capabilities (ADC, biosimilars, innovative biologics etc), large clientele, exposure to commercialized molecules, and capacity expansion, Anthem is well-positioned for long-term growth.

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Jul 11

Daily Brief India: Vedanta Ltd, Crizac, State Bank Of India, SGX Rubber Future TSR20, Jindal Steel & Power, Adani Power, Tenneco Clean Air India Ltd, Tata Motors and more

In today’s briefing:

Is Vedanta Running a Ponzi Scheme? Deep Dive into Findings of Shortseller Report
Crizac (CRIZ:NS). Sell into the Aftermarket.
SBI Possible US$3bn QIP – Will Be One of the Largest Fund Raisings in India, Last One Didn’t Do Well
Low-Risk, High Stakes: India Sharpens Rubber EUDR Compliance Focus
India Insider Buying – June ’25: Strong Activity in Small Caps, Limited Participation in Large Caps.
Adani Power Adds 600 MW—One Step Closer to 30 GW
Tenneco Clean Air India Ltd Pre-IPO Tearsheet
Tata Motors – JLR Q1FY26 Weakness

Is Vedanta Running a Ponzi Scheme? Deep Dive into Findings of Shortseller Report

A foreign short seller has released its short thesis note on Vedanta Group, labelling the group as a Ponzi scheme.
The report’s central assertion is ‘to repay the debt of holding company Vedanta Resources, Vedanta Limited paid aggressive dividends leading to depletion of financial & operational strength of Vedanta
Dividend & delisting along with share purchases funded through debt, unreconciled interest, and depleting asset base, stagnancy in expansion plans.

Crizac (CRIZ:NS). Sell into the Aftermarket.

By Edward Slade

Crizac has had a successful IPO, pricing at 28x PE.
Before any aftermarket premium, the company is already at a significant valuation premium to other global education stocks.
CRIZ has too many risks to justify a high rating. 95% of revenues come from India-UK student placement, aggregating applications for 10,362 agents.

SBI Possible US$3bn QIP – Will Be One of the Largest Fund Raisings in India, Last One Didn’t Do Well

By Sumeet Singh

As per news reports and company filings, State Bank Of India (SBIN IN) could soon look to raise around US$3bn (INR250bn) via a QIP.
SBI raised around US$2.3bn (INR150bn) in 2017, but the deal didn’t end up doing well.
In this note, we will talk about the possible fund raising and other deal dynamics.

Low-Risk, High Stakes: India Sharpens Rubber EUDR Compliance Focus

By Vinod Nedumudy

Rubber Board undertakes nationwide EUDR sensitization drives
Geo-mapping and traceability systems scaled up across states
Low-risk status to come under EU review in 2026

India Insider Buying – June ’25: Strong Activity in Small Caps, Limited Participation in Large Caps.

By Sreemant Dudhoria,CFA

Insider buying spanned across 40+ stocks in June 2025, highlighting continued conviction among promoters, directors, and trusts.
While, there were fewer companies with market cap above USD 1 bn which saw insider buying, this number was significantly higher (35 count) in smaller names.
Companies which have zoomed after the insider purchases include – LT Foods Ltd (LTFO IN) (+10%), Valor Estate (+11%). In smaller names – Man Industries (India) (MAN IN) (+88%)

Adani Power Adds 600 MW—One Step Closer to 30 GW

Adds 600 MW operational capacity in Maharashtra, acquired via CIRP at ₹6.67 crore/MW.
Supports Adani’s goal to reach 30,670 MW by FY2030 through scale-driven, base-load expansion.
Stock trades at ~12x forward P/E—undervalued given 70% capacity growth and strong operating leverage.

Tenneco Clean Air India Ltd Pre-IPO Tearsheet

Tenneco Clean Air India Ltd (1880671D IN) (TCAIL) is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are JM Fin, Citi, Axis, HSBC.
TCAIL designs and manufactures clean air, powertrain, and suspension solutions for Indian OEMs, export markets, and the aftermarket, serving PVs, CVs, OHs, and industrial applications.
According to the CRISIL Report, TCAIL was the largest supplier of Clean Air Solutions to Indian commercial truck (CT) OEMs with a 60% market share in FY24.

Tata Motors – JLR Q1FY26 Weakness

By Sreemant Dudhoria,CFA

Q1FY26 Decline: JLR’s Q1FY26 wholesale volumes dropped 10.7% YoY and 21.7% QoQ, signaling a tougher-than-expected environment amid planned model transitions and tariff shocks.
US Tariffs & Jaguar Phase-Out Drag Down Sales:Pause in US shipments post-April’25 and wind-down of legacy Jaguar models led to sharp volume contraction in key markets, particularly UK and North-America.
Luxury Mix Strong, but Growth Uncertain:While 77.2% of Q1FY26 volumes came from high-margin models (Range Rover/Defender),growing reliance on a few nameplates adds concentration risk in a sluggish global macro environment

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Jul 10

Daily Brief India: Travel Food Services Ltd and more

In today’s briefing:

Travel Food Services IPO: Capitalizing on the Global Airport F&B Boom

Travel Food Services IPO: Capitalizing on the Global Airport F&B Boom

Travel Food Services leads India’s airport QSR sector with a 24% market share and expands internationally through strategic partnerships, capitalizing on the growing global travel F&B market.
With a debt-free balance sheet and robust margins, TFS ensures scalable growth through strategic joint ventures and partnerships, minimizing capital expenditure while expanding operations.
With its diverse brand portfolio and a presence in high-traffic airports across India and abroad. The company’s expansion into new airports ensures sustained growth in the travel food services sector.

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Jul 09

Daily Brief India: Adani Enterprises, NSDL, Tata Motors ADR, Narayana Hrudayalaya Ltd, Rayzon Solar Ltd and more

In today’s briefing:

The Adani Factor: Creating India’s Biggest PVC Capacity
NSDL IPO: The Bull Case
Lucror Analytics – Morning Views Asia
Narayana Hrudayalaya Ltd (NARH IN): All That Cheap Is Not Always Value Buying Opportunity
Rayzon Solar Ltd Pre-IPO Tearsheet

The Adani Factor: Creating India’s Biggest PVC Capacity

India’s PVC market faces high import dependency, reaching 63% in FY25, due to stagnant domestic capacity and a widening 3 MMT demand-supply gap.
Adani and Reliance plan 2.5 MTPA domestic capacity expansion, bolstering production to reduce import reliance.
This aims to cut import dependency from 63% to under 30% by FY27, narrowing the gap to 1.4 MMT, enhancing domestic profitability.

NSDL IPO: The Bull Case

By Arun George

National Securities Depository Limited/NSDL (NSDL IN) is the largest depository in India. It is seeking to raise US$400 million.
The depository market in India is a duopoly with high barriers to entry as each of the current depositories is promoted by large institutions.
The bull case rests on outperforming its key peer on several metrics, the core business’s solid performance, signs of margin recovery, cash generation, and no debt.

Lucror Analytics – Morning Views Asia

By Trung Nguyen

In today’s Morning Views publication we comment on developments of the following high yield issuers: Tata Motors, Nissan Motor
UST yields rose yesterday, ahead of an auction cycle beginning today. The UST curve bear steepened, with the yield on the 2Y UST rising 1 bp to 3.90%, while that on the 10Y UST climbed 3 bps to 4.38%.
Equities retreated from record high levels after US President Donald Trump unveiled his tariff plans for countries that have yet to secure a trade deal with Washington. The S&P 500 fell 0.8% to 6,230, while the Nasdaq was down 0.9% at 20,413.

Narayana Hrudayalaya Ltd (NARH IN): All That Cheap Is Not Always Value Buying Opportunity

By Tina Banerjee

Narayana Hrudayalaya Ltd (NARH IN) reported revenue growth of 12% over the last two years, which is on the lower side compared to the peers.
Capacity constraint is the major setback. Until the company adds new greenfield capacity, there will be no significant change in volume. Near-term growth expectation is subdued.
Compared to peers, NHL is a late mover in capacity expansion. Significant greenfield expansion is scheduled to complete in FY28, through which nearly 1,100 beds will be added.

Rayzon Solar Ltd Pre-IPO Tearsheet

Rayzon Solar Ltd (0127839D IN) (RSL) is looking to raise about US$175m in its upcoming India IPO. The bookrunners for the deal are SBI, Ambit, IIFL.
RSL, established in 2017 as M/s Rayzon Green Energies, manufactures and sells Mono PERC, TOPCon, and bifacial solar PV modules for utility, C&I, and residential markets.
According to the CRISIL Report, RSL is among the top 10 solar photovoltaic (PV) module manufacturers in India, with an installed capacity of 6.00 GW as of Mar 25.

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Jul 08

Daily Brief India: Travel Food Services Ltd, Wns Holdings Ltd Adr, Protean, Aditya Birla Lifestyle Brands, Borosil Renewables and more

In today’s briefing:

Travel Food Services: $250M OFS, Niche Travel QSR but Valuations Seem Full Amidst near Term Weakness
Capgemini–WNS: A Strategic AI Play with Risk-Arb Clarity and Optionality
Protean EGov: Navigating the PAN 2.0 Headwind and Charting a Diversified Future
Travel Food Services IPO – RHP Updates & Thoughts on Valuation
Aditya Birla Lifestyle Brands (ABLBL IN) | A Sportswear Wildcard
Why Borosil Renewables’ Exit from GMB Is a Clear Win for the Company?

Travel Food Services: $250M OFS, Niche Travel QSR but Valuations Seem Full Amidst near Term Weakness

By Himanshu Dugar

TFS operates QSRs and lounge in airports. They are present in the top 14 airports in India accounting for 26% of Indian-airport QSR and ~45% of the Indian-airport Lounge revenues
FY26 performance is expected to be flattish as 1H results will lap impact of Adani operated airports being moved from TFS books to Joint venture with 25% stake.
FY27 onwards growth is estimated at 15+% with EBITDA margins of 34-37%. We estimate FY27 revenues of ~2,000cr with PAT of 450-500cr implying the deal is being priced at 30-33x

Capgemini–WNS: A Strategic AI Play with Risk-Arb Clarity and Optionality

By Jesus Rodriguez Aguilar

Capgemini to acquire WNS for $76.50 per share in cash; deal implies a 28% premium to VWAP and aims to create a global leader in AI-powered intelligent operations.
WNS traded at a discount to peers pre-offer; Capgemini expects meaningful synergies (~$8.63/share NPV), justifying the 16x P/E takeout. No termination fee is disclosed publicly.
Interloper risk is modest; deal certainty is high. With a 3.83% gross spread (pre-market) and 8.15% annualized return, the arbitrage setup is attractive barring regulatory or shareholder surprises.

Protean EGov: Navigating the PAN 2.0 Headwind and Charting a Diversified Future

Protean’s exclusion from the PAN 2.0 project raises concerns about potential long-term revenue loss, especially as tax services contribute significantly to its current business.
Protean’s strategic diversification into pension services, digital identity solutions, and international markets positions it well for long-term growth, reducing reliance on tax services.
With INR800 crore in cash reserves and zero debt, Protean is financially resilient, allowing it to invest in new growth areas, making it attractive for long-term investors despite short-term volatility.

Travel Food Services IPO – RHP Updates & Thoughts on Valuation

Travel Food Services Ltd (1450229D IN) is looking to raise about US$233m in its India IPO.
Travel Food Services Limited (TFS) operates a network of travel quick service restaurants (Travel QSRs) and private lounges in airports.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the RHP updates and IPO valuations.

Aditya Birla Lifestyle Brands (ABLBL IN) | A Sportswear Wildcard

By Pranav Bhavsar

The ABLBL demerger creates a focused entity with market-leading premium brands, providing a stable foundation by separating the high-margin apparel business from ABFRL’s weaker assets.
ABLBL core lifestyle portfolio, including Louis Philippe and Peter England, boasts dominant market share in key segments and enjoys exceptionally strong brand recall among consumers.
Future growth hinges on wildcards American Eagle and Reebok. The Reebok turnaround offers significant upside by tapping into the high-growth, lucrative Indian sportswear and athleisure market.

Why Borosil Renewables’ Exit from GMB Is a Clear Win for the Company?

Borosil Renewables (BRSL IN)‘ German subsidiary, GMB, filed for insolvency on July 4, 2025, due to European market challenges and losses.
This halts ~INR 9 crore monthly losses, freeing capital and management to focus on India’s booming solar glass sector.
Strengthens positive outlook; Borosil is now leaner and better positioned for India’s high-growth, policy-supported renewable market.

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Jul 06

Daily Brief India: Gabriel India and more

In today’s briefing:

Event Driven: Gabriel India Restructuring ~ From Shock Absorbers to a Diverse Mobility Leader

Event Driven: Gabriel India Restructuring ~ From Shock Absorbers to a Diverse Mobility Leader