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GMDC
GMDC shares rose 7.2% to Rs 530 after securing Stage-I Forest Clearance and Environmental Clearance for the Baitarni-West coal mine in Odisha.
The approvals enable structured progress and operationalization of the mine, aligning with the company’s expansion strategy.
GMDC plans to produce 15 MTPA from the mine in the future.
Kotak Mahindra Bank
Kotak Mahindra Bank is focusing on its mid-market corporate loan book, expecting 20-25% growth in the next five years.
The current book is around ₹15,000 crore, with a goal to reach 20% of the corporate book within three to five years.
The mid-market book grew 35% annually since its launch in April 2023, with SME and wholesale banking accounts for 31% of the bank’s ₹4.79 lakh crore assets.
Dixon Technologies
Dixon Technologies shares are up 2% on December 12, after CLSA reiterated ‘Outperform’ rating with a ₹18,800 12-month target, implying a 45% potential upside.
The brokerage cites uncertainties such as Vivo joint venture approval and component manufacturing scheme, but notes the stock is trading at 44 times FY27 projected earnings, not demanding.
Thermax
Shares of Thermax Ltd. are trading more than 5% higher on Friday, December 12, after Kotak Institutional Equities upgraded Thermax Ltd. to ‘Buy’, assigning a price target of ₹3,575 (28% upside) due to faster growth and margin improvement prospects.
The brokerage cites scale-up of existing businesses, geographical expansion, and a strong order inflow backlog.
Tata Steel
Tata Steel’s expansion blueprint aims to double domestic capacity through low-cost and environmentally friendly projects.
The plan includes scaling Neelachal Ispat Nigam Ltd to 4.5 million tonnes and deploying a Netherlands-developed low-carbon steelmaking technology at Jamshedpur, costing ₹2,500-3,000 crore.
Key analyst Parthiv Jhonsa predicts price hikes in Indian steel prices.
Waaree Energies
Waaree Energies faces near-term pressure from a US probe and domestic renewable slowdown.
However, strong revenue growth, rising production, a large order book, and capacity expansion plans support a medium-term recovery.
The company operates with ~18.7 GW installed solar capacity and ~5.4 GW wind capacity. Shares trade at a 25% discount.
Honasa Consumer
Honasa Consumer, parent of Mamaearth, surged 5% as it acquired 95% stake in Reginald Men via a secondary purchase of ₹195 crore at an enterprise value.
The deal marks expansion into men’s personal care, strengthening Honasa’s presence in South India.
Reginald Men achieved a ₹70 crore top line with 25% EBITDA in the last 12 months.
Five Star Business Finance
Motilal Oswal reaffirms a BUY rating on Five Star Business Finance with a TP of INR700.
Estimated CAGR of ~24%/17% in AUM/PAT over FY26-28E, with RoA/RoE of 6.8%/16.6% in FY28E.
Management is focused on portfolio stability, underwriting discipline, and technology investments for future growth without compromising asset quality.
Adani Ports
Life Insurance Corporation of India has reduced its stake in Adani Ports to 7.343%, offloading 3.89 crore shares over the last month.
Prior to the stake sale, LIC held 9.35%. Its overall exposure to the Adani Group stands at ₹48,284.62 crore in equity and debt.
Adani Ports’ share price rose marginally, reaching ₹1524.40, with a 24% year-to-date gain and a market capitalisation of ₹3.27 lakh crore.
IDBI Bank
Fairfax Financial, a Toronto-based company, has emerged as the frontrunner to acquire a controlling stake in IDBI Bank, with an all-cash offer matching the lender’s current market value, outpacing Kotak Mahindra Bank’s bid.
IDBI Bank shares jumped nearly 4% to Rs 98.95, the highest level in seven sessions, as the Centre and LIC aim to jointly offload a 61% stake in the lender.
NLC India
NLC India aims to exceed its 2030 clean energy target of 10 GW, currently at 8 GW, and expects to commission 600 MW of new renewables in the current fiscal year.
The company’s green subsidiary is set to go public in FY27.
Its Ghatampur thermal plant will contribute around ₹8,450 crore to revenue, with all three units expected to be operational by the end of the fiscal year.
Siemens Ltd
Siemens Ltd’s shares fell 6% after management cut DI segment margin guidance from 12-14% to 6-8%.
The segment, accounting for 20-25% of topline, focuses on industrial automation and digitization.
Private sector capex remains muted, with uncertainty if November’s pick-up will sustain. Shares are down 13% this year, currently trading at ₹3,005.
Interglobe Aviation (Indigo)
The Competition Commission of India is examining whether IndiGo violated competition norms amid regulatory scrutiny over significant flight disruptions.
The disruptions, mainly due to poor planning in implementing new flight duty norms, affected thousands of passengers.
CCI will look into IndiGo’s dominant position and potential abuse for exploitative or exclusionary acts.