Moneylife’s market breadth indicators have maintained their position in bullish territory for the past two weeks, marking a continuation of the rare strength seen in early-April. The trends of the major indices in the course of the week's trading are given in the table below:
News
Quess Corp announced receipt of an assessment order under Section 143(1) of the Income Tax Act, 1961, granting a refund of ₹155.11 crore for FY24–25. The refund includes ₹145.65 crore tax refund and ₹9.46 crore interest, received on 27 April 2026. The order was issued by the centralised processing centre, Bengaluru, with no violations or contraventions noted.
Alembic Pharmaceuticals received final United States food and drug administration (US FDA) approval for its Fingolimod Capsules, 0.5mg (generic Gilenya). The drug is indicated for relapsing forms of multiple sclerosis (MS) in patients aged ≥10 years. US market size is estimated at US$145mn (million) (IQVIA, December 2025), offering a meaningful generics opportunity. With this, Alembic’s cumulative abbreviated new drug application (ANDA) tally rises to 237 approvals (219 final, 18 tentative), strengthening its central nervous system (CNS) portfolio in regulated markets.
MobiKwik received approval of the Reserve Bank of India (RBI) for its non-banking financial company (NBFC) application, enabling launch of MobiKwik Financial Services Pvt Ltd (MFSPL) as a wholly-owned subsidiary. The licence will allow it to offer secured and unsecured credit products to consumers and micro small and medium enterprises (MSMEs), leveraging its 186mn user base, with focus on underserved regions. The in-house NBFC will support faster product rollouts, co-lending models and improved lending margins, strengthening MobiKwik’s fin-tech platform.
GR Infraprojects Limited announced the successful completion of its Maharashtra highway project. The work involved four-laning 56.18km from Govindpur (MH/TG border) to Rajura on NH‑353B, executed under the hybrid annuity mode (HAM).
Meghna Infracon Infrastructure announced a major portfolio expansion, adding five new redevelopment projects across Mumbai and Thane with a combined gross development value (GDV) of ₹600 crore, taking its cumulative GDV beyond ₹1,000 crore versus a market-cap of ₹1,600 crore. Total construction pipeline now exceeds 1mnsqft (million square feet).
Paras Defence signed an MoU (memorandum of understanding) with Complus Systems and JV Micronics, to jointly pursue defence and electronics projects, focusing on anechoic chamber solutions in India and abroad. This collaboration underscores Paras Defence’s strategy to deepen capabilities and widen its footprint in high tech defence infrastructure.
Dr Reddy’s Laboratories secured Health Canada approval for the first generic semaglutide in a G7 country, marking a breakthrough that positions it as the global reference manufacturer and potential cost‑saver for patients. This approval not only strengthens Dr Reddy’s international credibility but also sets the stage for accelerated clearances in the US and Europe as patents expire.
Texmaco Rail & Engineering launched Invariz Global Capability Centres (GCCs) across India, powered by ServiceNow, targeting US$100mn revenue by 2030 and creating 1,200+ jobs, marking a pivot into AI‑driven global services.
Omaxe group launched Omaxe Cassia in Lucknow with ₹250 crore investment, selling 300 of 360 units at launch, within its 690‑acre Metro City township.
L&T will divest its Hyderabad Metro Rail stake for ₹1,461.47 crore, exiting the project by June 2026, with limited impact on consolidated financials, given the metro unit’s small contribution.
Smartworks posted FY25-26 contracted rental revenue of ₹5,200 crore, with flexible operators taking 23% of Q1FY25-26 office absorption, reflecting a structural shift in workspace demand.
Orders
Marine Electricals (India) announced new orders worth around ₹70.86 crore (ex-tax) in its latest disclosure. Key contracts include a power distribution system for Princeton Digital group (India), with delivery over seven to nine months (not a related-party transaction). Additionally, an order from C Torq Marine Services LLC for panel supplies is classified as a related-party transaction, with delivery expected over 21 months.
SPARC sold its FDA‑granted rare paediatric disease PRV, earned via Sezaby® approval, forUS$195mn, strengthening liquidity and funding capacity.
Power Mech Projectssecured a ₹227.95 crore engineering-procurement-construction (EPC) order from South Western Railway, Bangalore for the development of a Vande Bharat sleeper trains maintenance depot at Thanisandra (between Channasandra and Yelahanka stations, Karnataka). The project is to be executed over 30 months.
RailTel Corporation of India received ₹20.35 crore order from Himachal Pradesh’s directorate of higher education to set up a Management information System (MIS) -central dashboard system, with execution due by April 2031.
Tanfac signed a long-term ₹61 crore annual supply deal with Blue Star for fluorinated products, ensuring revenue visibility and deeper penetration in Heating, Ventilation, and Air Conditioning (HVAC) ‑linked specialty chemicals.
Bajel Projects secured ₹400+ crore ultra‑mega orders for 500 kV transmission lines in MENA, reinforcing its global EPC credentials with completion due in 11 months.
DilipBuildcon’s subsidiary secured a ₹2,905 crore HAM project from Rajasthan Water Grid, covering feeder construction and 20‑year operations & maintenance (O&M), with completion due in 27 months.
Mergers/ Acquisitions / Fund-raise / Stake Sale
Pine Labs approved the acquisition of Shopflo Technologies Pvt Ltd, buying 100% of shares from existing holders. Shopflo, incorporated in December 2021, reported ₹147.35mn turnover and ₹2.78 lakh paid up capital as of March 2025. The deal is valued at up to ₹88 crore, payable in tranches, to be completed within three months. It is a cash transaction, not a related-party deal, strengthening Pine Labs’ checkout and e-commerce enablement capabilities.
Mahindra Holidays & Resorts India (MHRIL) approved the acquisition of 100% stake in Aditatva Estates for ₹37.5 crore, via cash consideration. Aditatva Estates, incorporated in Nov 2021, operates a 50-acre coffee plantation in Chikmagalur (Karnataka), with FY24-25 turnover of ₹81.03 lakh. MHRIL plans to leverage the land for a new leisure resort, aligning with its strategy to expand and diversify hospitality offerings.
Axis Bank approved a capital raise of up to ₹20,000 crore via equity and equity-linked instruments—qualified institutional placement (QIP), American depository receipts (ADRs), global depository receipts (GDRs), preferential allotment—, subject to approvals. In Q4FY25-26, net profit stood at ₹7,071 crore, down 0.65% y-o-y, while NII rose 4.7% to ₹14,457 crore. Asset quality improved sequentially with gross NPAs at 1.23% vs 1.40% and net NPAs at 0.37% vs 0.42%.
Linc announced on a $250,000 investment in its Turkey JV, matched by its partner, with no change in shareholding. The joint venture (JV) partner Sanayi VeTicaret Ltd., will infuse an equal amount, keeping Linc’s shareholding unchanged.
Earnings
Can Fin Homes reported a strong Q4FY25-26 with net profit up 31% year-on-year (y-o–y) to ₹346 crore versus ₹265 crore last year. The loan portfolio expanded 10% y-o-y to ₹42,209 crore, compared to ₹38,217 crore in March 2025. Housing loans form 72% of the book, while non housing account for 28%. Results highlight steady asset growth and profitability momentum.
Tanla Platforms posted a net profit of ₹134.3 crore in Q4FY25-26, up 14.5% (y-o-y) compared to ₹117.3 crore reported in the corresponding quarter last year. Revenue from operations stood at ₹1,177.5 crore, registering a 15.0% y-o-y increase from ₹1,024.4 crore in Q4FY25.
Lodha Developers closed FY25-26 with record post-tax profit of ₹3,431 crore, up 24% y-o-y. The company also achieved record pre sales of ₹20,530 crore, underscoring strong demand momentum. During the year, Lodha added 12 projects with GDV around ₹60,000 crore across Mumbai metropolitan region (MMR), Pune, Bengaluru and National Capital Region (NCR), exceeding guidance by 2.4x.
Chennai Petroleum Corporation (CPCL) reported Q4FY25-26 results with crude throughput at 2.93MMT (million metric tonnes), slightly lower than 2.97MMT last year, maintaining 112% capacity utilisation. Revenue from operations stood at ₹20,455 crore, marginally down from ₹20,581 crore y-o-y. Profit after tax (PAT) surged to ₹1,400 crore, a sharp rise from ₹450 crore in the same quarter last year, reflecting strong profitability, despite flat top-line.
AU Small Finance Bank reported Q4FY25-26 net profit of ₹832 crore, up 65% y‑o‑y aided by lower provisioning, with net interest margin (NIM) at 5.96% supported by declining cost of funds and gross non-performing assets (NPAs) at 2.03%, reflecting strong operating performance and improved asset quality.
Motherson Sumi Wiring India reported Q4FY24-26. Revenue was ₹3,334.6 crore, up 32.9% y-o-y and net profit was ₹167 crore, marginal rise of 1.4% y-o-y.
AWL Agri Business (formerly Adani Wilmar Ltd.) (-0.50%) reported Q4FY25-26 revenue of ₹21,465 crore, 18% y-o-y increase. For the full year FY25-26, revenue stood at ₹74,731 crore, marking 17% y-o-y growth.
Eternal Limited reported Q4–FY25-26 with revenue of ₹17,292 crore, up 196.5% y-o-y and PAT of ₹174 crore, a surge of 346.1% y‑o‑y.
Mahindra Lifespace Developers posted Q4FY25-26 revenue of ₹723.21 crore, up 1,204.6% y‑o‑y, with net profit at ₹90.12 crore, a surge of 497% y‑o‑y.
Reliance Retail Ventures (RRVL) reported Q4FY25-26 gross revenue of ₹98,232 crore, up 10.8% y‑o‑y from ₹88,620 crore. PAT) stood at ₹3,563 crore, a marginal rise of 0.5% y‑o‑y. Including associate income, total profit reached ₹3,574 crore, reflecting 1.6% y-o-y increase.
Acutaas Chemicals reported Q4FY25-26 income of ₹443.86 crore up 41.2% y-o-y, with net profit at ₹134.28 crore up 114.1% y‑o‑y.
HFCL posted Q4FY25-26 revenue of ₹1,824 crore up 128% y‑o‑y, with earnings before interest, taxes, depreciation and amortisation (EBITDA) at ₹315 crore with 17.3% margin and PAT at ₹178.5 crore, marking a decisive turnaround from losses last year.
Adani Power posted Q4FY25-26 revenue of ₹14,223 crore (flat y‑o‑y), with PAT surging to ₹4,271 crore, 64.3% y-o-y jump.
Top gainers and losers of the major indices for the week are given in the table below:
