Author: Abizar Attari
News Editor

Mumbai: Auto ancillary player Tenneco Clean Air India Ltd is all set to list simultaneously on the BSE and NSE today after its Offer For Sale (OFS) IPO was massively oversubscribed by 61 times. The issue ran between November 12-14, with investor interest remaining muted for the first day and recovered on the subsequent days.  Existing investors, including Tenneco Mauritius Holdings and Tenneco LLC, offered 9.07 crore shares for the IPO worth ₹3,600 crore.  Qualified Institutional Buyers (QIBs) showed a strong interest, with their portion subscribed 28 times, while non-institutional buyers saw their portion booked 32 times. The retail investor’s…

Mumbai: After the soft drinks market, Reliance Consumer Products Ltd, part of Mukesh Ambani’s retail empire is all set to venture into the $3.5 billion pet food market in India. According to various reports, Reliance is expected to offer its products at prices 30-50% lower than the current players through its own brand Waggies. This marks the latest category Reliance aims to disrupt through its brute distribution and financial muscle, after the cola market through its Campa Cola acquisition, besides others in the packaged beverage segment. Currently, the pet food market is dominated by players like Pedigree, Drools, Royal Canin,…

Mumbai: Global investment firm Morgan Stanley has released a strategy outlook report, saying that India’s Sensex could reach 1,07,000 by next year if macroeconomic factors remain favourable. In its report, the firm assigned a 50% probability for this prediction to play out in the next 12 months.  This means that Sensex could have a price to earnings multiple of 23.5 times, higher than the historial 25 year index average of 22 times.  Morgan Stanley believes that 2026 will result in macro trade of stocks, rather than selective stock picking that defined this year.  According to Ridham Desai, author of the…

Mumbai: Nuvoco Vistas Corporation Limited, a leading cement manufacturer, has agreed to acquire Algebra Endeavour Private Limited, the holding company of Vadraj Energy (Gujarat) Limited for ₹200 crore. The company has signed a purchase agreement with JSW Cement and Alpha Alternatives Holdings Private Limited to acquire the company, which will help it gain access to two power plants in Kutch and Surat. For Nuvoco, this development helps it gain access to a captive power plant for its recently acquired cement plants in Surat and Kutch. These plants are currently undergoing refurbishment, with operations expected to commence in Q3 FY27. With…

Vadodara: Swastika Castral Limited has delivered a record 27% year-on-year growth in revenue to ₹1,654 crore on the back of sustained growth in demand. The company’s net profits also grew to 239% during the same period to ₹131.93 lakh, with EBITDA margins improving by nearly 200 bps to 15.85%. The company has made a committed effort to strengthen its operational controls, by boosting capacity utilization, cost efficiencies and a stronger operational leverage. The company’s PAT margins have also increased from 3% to 7.98% as a result. Throughout the first half of the year, the Vadodara based company has deepended its…

Mumbai: Phantom Digital Effects reported a total income of ₹8,829.50 lakhs, a massive 140.91% jump from the same period last year. This corresponded with a rise in its Profit After Tax of Rs. 2,068.55 lakhs, a 149.99% YoY rise from last year, as the company’s efforts to boost operational efficiency bore fruit. The VFX studio, known for its films, web series and streaming productions, has benefited from a steady flow of projects, both domestically and from leading markets overseas. Its latest acquisition, Milk Visual Effects Limited, has helped it strengthen its presence in Hollywood and Europe’s high-end VFX market, strengthening…

New Delhi: KVS Castings, a Kashipur, Uttarakhand-based casting solutions provider, has reported a 3.71% revenue growth to Rs.2,390 lakh from last year, with its Profits After Tax (PAT) increasing to 42.5% YoY from last year, backed by improved operational efficiency and an expanded project mix. The company continues to expand into other high-potential growth sectors, including railway wagon components and now with the production of 81mm artillery shells for the military. To further increase production capacity, the company is upgrading its Unit- 2 facility to increase production to 1,000 metric tons, using advanced automation technologies like CAD/CAM/CAE tools and CNC/VMC…

Chennai: Thaai Casting Limited, an auto ancillary engineering firm,reported ₹62.25 crore in consolidated revenue, a 16% increase from last year. The company, which primarily makes precision-engineered parts for cars, machinery and industrial equipment, also saw its profit rise 15% to ₹6.18 crore. On a standalone basis, revenue touched ₹52.01 crore, while profit stood at ₹4.86 crore. The company maintained healthy capacity use of around 75–80%, showing stable demand across its product lines. This year, the company secured two major orders worth over ₹138 crore, with deliveries scheduled over the next six years. These long-term contracts have reinforced the company’s commitment…

Bengaluru: Swedish home furnishings major is reportedly planning to set up its second store in Bengaluru at Purva Zentech Park, according to the developer Puravankara Group. The company has leased the first and second floor of the upcoming development, which is slated for completion by early 2026. The project is just a short walk away from Bengaluru’s famous Forum Mall and the Konankunte Metro Station, with the developer applying for the Indian Green Building Council (IGBC) Gold certification for it.  “We are excited to onboard IKEA at Purva Zentech Park. Their decision to occupy retail space of more than 1.2…

Mumbai: Euro Pratik Sales Ltd(EPSL), which recently raised Rs.451 crore through the markets, has announced the acquisition of Uro Veneer World for Rs.76.50 crore. This comes at a time when the company now has to address several key concerns, including its overdependence on contract manufacturers for its products, as well as its excessive reliance on a single segment: decorative wall panels. Despite concerns from analysts, EPSL’s IPO in September was subscribed 1.34 times, mostly on the hope that the company would be able to expand its base nationwide based on the growth of the real estate sector.  The company now…