JSW Energy, HCL Tech, RBL Bank Lead Market Focus with Major Deals and Q3 Results
Multiple companies are driving market attention today through major corporate developments and Q3 earnings. JSW Energy's subsidiary secured a 1,600 MW power plant agreement, while HCL Tech partnered with Carahsoft for US government sector expansion. Quarterly results showed mixed performance with Persistent Systems and AU Small Finance Bank reporting strong growth, contrasting with declines at Supreme Petrochem and Rallis India. Embassy Developments announced ₹4,500 crore Mumbai expansion plans, and significant bulk deals involved Fidelity's divestment from Aditya Birla companies.
*this image is generated using AI for illustrative purposes only.
Indian stock markets are witnessing significant activity today as multiple companies announce major corporate developments, quarterly earnings, and strategic initiatives across various sectors.
Major Corporate Developments
JSW Energy emerged as a key focus stock after its subsidiary, JSW Thermal Energy Two Limited, signed a Power Purchase Agreement with West Bengal State Electricity Distribution Company. The agreement covers a greenfield 1,600 MW super/ultra-supercritical thermal power plant project to be commissioned in Salboni, West Bengal, within six years.
HCL Technologies announced a strategic partnership with Carahsoft Technology Corp, a trusted government IT solutions provider, aimed at accelerating digital transformation initiatives in the US public sector. This collaboration positions the company to expand its presence in the American government technology market.
RBL Bank received regulatory clearance as the Competition Commission of India approved the proposed acquisition of shareholding by Emirates NBD Bank. Similarly, the CCI approved Tata Steel's acquisition of 50.01% equity share capital in Thriveni Pellets.
Mixed Q3 Earnings Performance
Quarterly results revealed contrasting performance across different sectors:
| Company | Profit Change | Revenue Change | Key Metrics |
|---|---|---|---|
| Persistent Systems | +17.80% to ₹439.40 cr | +23.40% to ₹3,778.20 cr | Dollar revenue: $422.50 mn |
| AU Small Finance Bank | +26.30% to ₹667.60 cr | NII: +15.70% to ₹2,341.30 cr | Gross NPA: 2.30% |
| Vikram Solar | +416% to ₹98.10 cr | +7.80% to ₹1,105.90 cr | Labour code impact: ₹56 cr |
| Supreme Petrochem | -57.70% to ₹30.10 cr | -10% to ₹1,264.70 cr | Standalone results |
| Rallis India | -81.80% to ₹2 cr | +19.30% to ₹623 cr | Exceptional loss: ₹35 cr |
CreditAccess Grameen showed remarkable recovery, posting a profit of ₹252.10 crore compared to a loss of ₹99.50 crore in the previous year, with net interest income growing 13% to ₹975.60 crore.
Real Estate and Infrastructure Expansion
Embassy Developments announced significant expansion plans for the Mumbai Metropolitan Region, committing ₹4,500 crore across three residential projects in Worli, Juhu, and Alibaug. The projects represent a combined Gross Development Value of over ₹12,000 crore with approximately 1.58 million square feet of development area, with launches scheduled from Q4 FY2026.
Highway Infrastructure secured a Letter of Award from NHAI for user-fee agency operations at Mundka Fee Plaza on the UER-11 corridor. The project, valued at ₹64.68 crore, involves toll collection operations and facility maintenance.
Regulatory Approvals and Appointments
The Reserve Bank of India approved Kaizad Bharucha's reappointment as Whole-time Director (Deputy Managing Director) of HDFC Bank for three years, effective April 19, 2026. Power Grid Corporation's board approved proposals worth ₹914 crore for procuring cold spare transformers and reactors.
Market Activity and Bulk Deals
Significant institutional activity marked the session, with Fidelity Securities Fund divesting stakes in Aditya Birla group companies:
| Transaction | Shares Sold | Stake % | Value (₹ cr) | Price per Share |
|---|---|---|---|---|
| Aditya Birla Lifestyle | 2.36 cr | 1.94% | ₹260.67 | ₹110 |
| Aditya Birla Fashion | 2.15 cr | 1.76% | ₹142.63 | ₹66.20 |
Amagi Media Labs is set for its mainboard listing today, while several companies including Dr Reddy's Laboratories, Dalmia Bharat, and Waaree Energies are scheduled to announce their December quarter results.
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