News that may have an impact on prices of some stocks today, 11th July, 2025

Enviro Infra gets new project of Rs 400 crore

Company has announced a significant step forward in its growth journey with its foray into the Zero Liquid Discharge (ZLD) space. The company has secured a project from the Maharashtra Industrial Development Corporation (MIDC) aimed at pollution control of the Panchganga River worth Rs 400 crore. This project, with a completion timeline of 24 months, is one of the largest and most critical environmental infrastructure assignments under MIDC’s river pollution abatement program.

Aegis Vopak to acquire LPG terminal from Aegis Logistics

Aegis Vopak and Aegis Logistics Limited (ALL), one of the Promoter executed Business Transfer Agreement (BTA), to acquire LPG Terminal having Cryogenic static storage capacity of 48,000 MT at Pipavav from ALL via slump sale basis on going concern basis on such terms and conditions as contained in the BTA resulting in new capacity addition at Pipavav. Existing capacity was at 22,800 MT. The investment requirement to be around Rs 428.4 crore and to be financed through internal accruals.

Ichnos Glenmark announces global commercialization strategy for flagship product

Ichnos Glenmark Innovation, Inc. (IGI), a global, fully integrated clinical-stage biotechnology company focused on developing multi-specifics in oncology, announced its global commercialization strategy for its lead investigational asset, ISB 2001 developed using IGI’s proprietary BEAT protein platform, for oncology and autoimmune diseases.

This follows the execution of an exclusive licensing agreement with AbbVie. Under the terms of agreement, IGI partners with AbbVie and grants exclusive rights to globally develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China while Glenmark Pharmaceuticals will develop, manufacture and lead commercialization of ISB 2001 across Emerging Markets including the rest of Asia, Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand and South Korea.

Tata Elxsi’s net profit in June quarter down by 21.6%

Tata Elxsi’s revenue was in line with estimates and net profit was below expectations in Q1FY26. Consolidated revenue was down by 1.8% QoQ and 3.7% YoY to Rs 892 crore and revenue decline of 3.9% QoQ in CC. EBIT decreased by 11.2% QoQ and 27.8% YoY to Rs 162 crore and EBIT margin contracted by 190bps QoQ and 610bps YoY to 18.2% in Q1FY26. Net Profit was down by 16.3% QoQ and 21.6% YoY to Rs 144 crore.

TCS’ revenue below expectations

TCS revenue was below expectations and net profit was above expectations in Q1FY26, reported a total contract value of US$9.4 bn in the quarter with 13.2% YoY growth. The continued global macro and geo-political uncertainties caused a demand contraction. Consolidated revenue was down 1.6% QoQ and grew 1.3% YoY to Rs 63,437 crore in Rupee terms in Q1FY26. Revenue in constant currency (CC) terms, declined 3.1% YoY. EBIT was down 7.4% QoQ and up 0.5% YoY to Rs 15,514 crore and EBIT margin slipped 150bps QoQ and 20bps YoY to 24.5% in Q1FY26. Net profit was up 4.3% QoQ and 5.9% YoY to Rs 12,819 crore.

Government to give subsidy to offset losses of IOC, BPCL, HPCL

The government is likely to provide Rs 30,000-35,000 crore in subsidies to IOC, BPCL, and HPCL to offset losses incurred from selling LPG below cost over the past 15 months. The finance ministry is determining the exact under-recovery amount and compensation mechanism, potentially utilizing additional revenue from increased excise duties on petrol and diesel.

Indian Oil to temporarily shut down its Panipat refinery for upgrade

Indian Oil Corp plans to temporarily shut down its 300,000 barrelsper-day diesel desulphuriser unit at its Panipat refinery for an upgrade. This upgrade aims to produce 30,000 metric tons per year of sustainable aviation fuel (SAF) from used cooking oil (UCO). Indian Oil will also invite bids for a green hydrogen plant and a sustainable aviation fuel project.

OPEC revises down its medium term global oil demand forecast

OPEC has revised its medium-term global oil demand forecasts downward due to slower growth in China, particularly with electric vehicle adoption. Despite this, OPEC anticipates long-term demand growth driven by India, the Middle East, and Africa, projecting a rise to 122.9 million barrels per day by 2050.

HCL gets new client in Dunedin City Council

HCL Tech has signed a 10-year strategic partnership with the Dunedin City Council (DCC) to modernize and manage its IT services, driving digital transformation, improved service delivery and stronger community engagement.

Petronet LNG, PCL enter into regasification agreement

Performance Chemiserve Limited (PCL), a wholly owned subsidiary of Deepak Mining Solutions Limited (DMSL) which is a wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) and Petronet LNG Limited (PLL) have entered into 5.5 years (commencing between May 2026 – July 2026 and ending on 31st December 2031) agreement for the regasification of Liquefied Natural Gas (LNG) to be imported by DFPCL group.

IREDA’s net profit in June quarter down by 35.7%

IREDA reported Q1 FY26 net profit of Rs 247 crore, down 35.7% YoY, while revenue rose 28.9% to Rs 1,947 crore. Impairment for the quarter stood at Rs 362.6 crore. Asset quality deteriorated, with gross NPA rising to 4.13% from 2.45% in the March quarter, and net NPA increasing to 2.05% from 1.35%.

The central government has granted tax-saving status to bonds issued by the Indian Renewable Energy Development Agency Ltd (IREDA) under Section 54EC of the Income Tax Act. The move aims to facilitate low-cost fundraising for renewable energy projects while offering capital gains tax exemption to investors.

Priya Nair appointed CEO & MD of HUL

HUL has named Priya Nair as its next CEO and MD, effective August 1, 2025. Currently President of Beauty & Wellbeing at Unilever, she will also join the HUL board and remain part of the Unilever Leadership Executive.

Anand Rathi Wealth Management’s net profit up by 27.9% in June quarter

The wealth management firm reported a strong Q1 performance with net profit rising 27.9% YoY to Rs 93.9 crore, driven by solid growth in revenue and margins. Revenue from operations grew 15.3% to Rs 274 crore, while EBITDA surged 30.1% to Rs 127.7 crore, reflecting robust operational efficiency. Guidance for FY26: Revenue at Rs 1175 crore, net profit at Rs 375 crore, AUM at Rs 1 lakh crore.

Birla Corp declared preferred bidder for Tadas Limestone Block

The company has been declared the ‘Preferred Bidder’ for the Tadas Limestone Block-II in Nagaur district, Rajasthan, as per a notification issued by the Directorate of Mines & Geology on July 10, 2025. The block spans 160.39 hectares, and Birla Corp secured it with the highest final price offer of 63.50%.

Oswal Pumps net profit in June quarter up by 123.5%

Revenue for the quarter grew 58.3% YoY at Rs 364.6 crore. EBITDA increased 118.7% YoY at Rs 99 crore. Net profit was up 123.5% YoY at Rs 63.9 crore. Finance cost increased 140% YoY at Rs 13.2 crore.

Zee shareholders vote against preferential warrant issue

The company’s promoters faced another shareholder setback as 40% of investors voted against a Rs 2,237 crore preferential warrant issue. The proposal, requiring 75% approval as a special resolution, was rejected, marking the second such defeat after Punit Goenka’s MD reappointment was blocked in December 2024. Zee acknowledged the outcome and reaffirmed its focus on growth.

Eicher Motors subsidiary receives GST notice

The automobile firm’s subsidiary, VE Commercial Vehicles (VECV), received a show cause notice from the CGST office in Ujjain over alleged GST violations for FY 2017-18. The notice demands Rs 168.19 crore in tax, penalty, and interest. VECV believes the claim is not valid and plans to respond within the deadline, expecting no major financial impact.

Tata Steel increases stake in T Steel Holdings

Tata Steel Ltd. said that the company has acquired a stake in its Singapore-based unit, T Steel Holdings Pte. Ltd., in a transaction valued at Rs 1,073.63 crore ($125.25 million). The Tata Group’s steelmaker acquired 124.6 crore shares, with a face value of $0.1005 each. Post this acquisition, T Steel Holdings will continue to be a wholly-owned subsidiary.

CoC approves JSW Infra’s insolvency resolution plan for NCR Rail Infrastructure

The company has received approval from the Committee of Creditors (CoC) for its resolution plan to acquire NCR Rail Infrastructure Limited under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016.

Jash Engineering commissions Shivpad plant

Company announced the commissioning of Shivpad Manufacturing plant and office at SIPCOT Vallam Vadagal near Chennai. This plant, having a built-up area of 58500 square feet, will help Jash in consolidating its position in the Municipal treatment process equipment business.

Company also announced the potential acquisition to acquire WesTech Process Equipment India Private Limited, Mumbai (WPEIPL) by purchasing 80% stake held by WesTech LLC, USA, along with an additional 10% stake held by employees of the Indian entity.

Hero Fincorp raises Rs 50 crore from Vattikuti Ventures

Hero FinCorp, the parent Hero MotoCorp-owned NBFC, has raised Rs 50 crore from the venture capital firm Vattikuti Ventures, through the second pre-IPO round this week. The company has allotted 3.57 lakh shares to Vattikuti Ventures LLC, owned by American-Indian entrepreneur and philanthropist Raj Vattikuti, at a price of Rs 1,400 per share, which amounted to Rs 50 crore.

Navin Fluorine raises Rs 750 crore through QIP

Board approved allotment of 16.02 lakh equity shares at Rs 4680 per equity share. It was at a discount of 2.46% to floor price of Rs 4798 per share. Company raised Rs 750 crore through QIP.

Hexaware, Abluva enter into strategic partnership

Hexaware Technologies announced a strategic partnership with Abluva, an innovator in agentic AI security, to address security challenges posed by autonomous AI agents in the Life Sciences industry. This collaboration brings together Hexaware’s deep domain expertise and Abluva’s groundbreaking Secure Intelligence Plane to help organizations in the sector deploy generative AI (GenAI) safely and in compliance with industry regulations.

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Source: HDFC Securities Prime Research