GLOBECIVIL

Feb 27 (Reuters) - Globe Civil Projects Ltd GLOV.NS:

• IDENTIFIED AS LOWEST BIDDER FOR IIT DELHI PROJECT WORTH 988.5 MILLION RUPEES

Source text: ID:nBSEbmmhRf

Further company coverage: GLOV.NS

((Reuters.Briefs@thomsonreuters.com;))

** Drugmaker Cipla's CIPL.NS stock falls as much as 4.7% to 1,367.20 rupees, lowest level since April 2025

** Last down 2.4%, top loser on Nifty 50 .NSEI, which is up 0.77%

** Tumour drug Lanreotide supply hit after partner Pharmathen's production pause; drug is major rev source for CIPL in U.S.

** Nuvama downgrades to "reduce" from "hold", cuts PT to 1,360 rupees from 1,715 rupees; says pause brings uncertainty for FY27E

** BofA Securities cuts PT to 1,420 rupees from 1,500 rupees; says co's near-term earnings, news flow could weigh on stock

** Morgan Stanley says pause creates U.S. revenue overhang; stock to underperform over next 30 days

** CIPL rated "buy" on avg by 36 analysts, median PT 1,675 rupees - LSEG data

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

** Co-working and workspace solutions firm Indiqube Spaces' IDIQ.NS stock rises nearly 5% to 204.05 rupees

** Co expands footprint into Odisha capital Bhubaneswar, its 17th city of operations across India

** All four analysts covering IDIQ rate it "buy"; median PT at 310 rupees - data compiled by LSEG

** Stock down 5.5% since debut in July, 2025

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

Updates

** HDFC Bank HDBK.NS drops 2.4% to 977.6 rupees after co's quarterly update

** Stock is the biggest percentage loser on benchmark Nifty 50 index, which is down 0.3%

** India's top private lender posted 11.9% y/y in loan growth as of December-end on Monday, while deposits increased 11.5%

** Its loan to deposit ratio (LDR), a metric that assesses whether it has enough deposits to fund loan growth, went up by 50 bps q/q to 98.5%, Suresh Ganapathy analyst at Macquarie said

** This in contrast to the bank's target to bring it below 90% by FY27

** HDBK has said it expects to grow loans in line with the industry in FY 2026, and faster than the industry in FY 2027

** "...They will have to operate at a 95%+ LDR if they have any aspirations of maintaining their loan growth above system," Ganapathy said

** HDBK rose 12.10% in 2025 vs a 10.5% rise in Nifty 50

($1 = 90.2400 Indian rupees)

(Reporting by Brijesh Patel and Nishit Navin in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

** The Nifty IT index .NIFTYIT falls 1.5%, dragged by losses in Wipro WIPR.NS and Infosys INFY.NS,

** Wipro down 4.6%, Infosys sheds 1.9%

** Analysts flag mixed results, even as the two IT firms posted better-than-expected quarterly revenue

** Wipro's Q2 operating margins fell q/q; its acquisition of Harman's DTS unit and deal ramp-up of recently won large deals will further pressure margins in near term - Jefferies

** Infosys narrowed its rev growth forecast for FY26 to 2%-3% from 1%-3%, which Jefferies analysts say implies a -1.5% to 0% compound quarterly growth rate as upper end of range remains same

** Adds, the growth rate appears weak

** UBS analysts say INFY EBIT margins stood at 21%, lower than their 21.4% estimate

** LTIMindtree LTIM.NS rose 0.4% and was the only stock in the 10-member index to trade in the green after it beat quarterly earnings view

** IT index is down ~19% so far in 2025 vs 8% rise in benchmark Nifty 50 index .NSEI

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of LTIMindtree LTIM.NS gain as much as 4.3% to 5,501 rupees, last up 0.6%

** Stock among top gainers on Nifty IT index .NIFTYIT, which was up 0.4%

** IT services company said on Monday it had won its largest-ever deal; it did not reveal name of the client and financial details

** Two sources pegged the deal size at $580 million, Reuters reported

** LTIM rated "hold" on average by 38 brokerages, same as HCLTech HCLT.NS, Tech Mahindra TEML.NS and Wipro WIPR.NS - LSEG data

** YTD, LTIM down ~5% vs ~20% decline in NIFTYIT

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of AU Small Finance Bank AUFI.NS climb 2.6% to 760.9 rupees, their highest since mid-August

** Stock among top gainers on the Nifty Bank index .NSEBANK, which is up ~1%

** Lender posts 20.8% y/y rise in Q2 total deposits, while its gross loan portfolio grows 17%

** Stock rated "hold" on avg by 24 brokerages, median PT at 773 rupees - data compiled by LSEG

** YTD, stock up 36%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** India's Nifty IT index .NIFTYIT was down 1.3%, with all 10 stocks on the index trading in the red

** U.S. tech company Accenture ACN.N beat fourth-quarter revenue estimates, but analysts say dicretionary demand remains unchanged

** Analysts at Macquarie say the common takeaway is that "demand recovery is patchy as of now"

** Heavyweights Infosys INFY.NS and TCS TCS.NS decline 1.7% and 1%, respectively

** LTIMindtree LTIM.NS was the top percentage loser, down 2%

** The muted growth guidance poses downside risks to consensus expectations of acceleration in growth in FY27 for Indian IT firms, Jefferies says

** Goldman Sachs says FY26 revenue growth expectations remain unchanged

** Adds that FY27 rev growth estimate for Indian IT firms could be at risk if discretionary demand shows no signs of improvement this year

** NIFTYIT down ~21% so far in 2025 vs a ~5% rise in Nifty 50 index .NSEI

(Reporting by Manvi Pant)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** UBS raises rating on India's Dixon Technologies DIXO.NS to "buy" from "neutral" earlier, hikes price target to Street high of 23,000 rupees ($259.39) from 13,000 rupees

** New PT reflects a ~27% upside on last close

** DIXO shares rose as much as 1.7% to 18,471 rupees, hitting their highest level since early January

** UBS says co's backward integration into non-semiconductor smartphone components will likely aid 110-basis-point improvement in EBITDA margins by FY28

** Expects co to deliver $11 billion revenue by FY28; sees components' expansion, steady exports, new verticals as strong growth prospects beyond FY28

** Brokerage says co's pace of inorganic growth, based on recent JVs, underscores DIXO's ability to unlock new growth drivers

** Estimates FY25-28 revenue CAGR of 36% and PAT CAGR of 46%

** Stock rated "buy" on avg, median PT at 18,311 rupees - data compiled by LSEG

** YTD, DIXO up ~2%

($1 = 88.6700 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** HCLTech HCLT.NS rises as much as 1% to 1,444 rupees; last up 0.6%

** HCLT only stock in green on 10-member Nifty IT index .NIFTYIT, which is down 0.9%

** A Swedish truck and bus maker renews deal with co, signing multi-year contract for IT infrastructure, services

** No financial details disclosed

** Morgan Stanley says deal will likely aid co's total contract wins in Q2, boost confidence for HY2 FY26, build revenues on top of co's existing base

** Adds deal reaffirms co's ability to maintain scope in large deal renewals, signals improvement in co's market share

** Stock rated "hold" on avg, median PT is 1,670 rupees, per data compiled by LSEG

** YTD, HCLT falls ~25%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of lender AU Small Finance Bank AUFI.NS gain 3.7% to 731.9 rupees; set for best day since early-June

** Brokerage Motilal Oswal says AUFI's earnings to accelerate from the second half of FY26 onwards; expects loan CAGR to be sustained at 24% over FY26-28

** Says recovery in credit costs and strong loan growth will aid earnings for co

** Estimates a 33% earnings CAGR for AUFI; expects growth trends in the vehicle business to recover from Q3FY26, aided by GST tax cuts and festival demand

** Says co's NIM faces near-term pressure due to loan repricing, however, improvement in asset mix and decline in funding costs to aid margins from HY2

** Rates AUFI "buy," PT at 875 rupees - reflecting a ~24% upside on last close

** Stock rated "hold" on avg, median PT at 773 rupees - data compiled by LSEG

** YTD, stock up ~31%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

Sept 19 (Reuters) - Globe Civil Projects Ltd GLOV.NS:

• GLOBE CIVIL PROJECTS LTD - SECURES 131.1 MILLION RUPEES EPC CONTRACT

Source text: ID:nBSEbzFMqJ

Further company coverage: GLOV.NS

((Reuters.Briefs@thomsonreuters.com;;))

** UBS hikes Avenue Supermarts AVEU.NS PT to 5,600 rupees from 5,050 rupees, nearly 19% upside to last close; keeps "buy" rating

** DMart supermarket chain operator's stock up 1.4% to 4,784.7 rupees

** Brokerage cites DMart's highest discount among peers at 21%, boosting customer loyalty in middle/lower-middle income segments

** Notes value retail edge in offline stores and online platform DMart Ready after store, channel checks

** DMart opened 130 stores across India in last 3 years; UBS estimates 230-250 new outlets in next three years

** Adds, growth set to accelerate on quick-commerce foray, value retail business model

** AVEU rated "hold" by 28 analysts on avg, median PT 4,040 rupees - data compiled by LSEG

** YTD, stock up 34%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** India's Nifty auto index .NIFTYAUTO trades 1.1% higher, leading gains among 16-major sub indexes

** Benchmark Nifty 50 index .NSEI rises 0.4% over U.S.-India trade negotiations optimism and ahead of the Federal Reserve's rate decision .BO

** Mahindra and Mahindra MAHM.NS climbs 1.2%, followed by Maruti Suzuki MRTI.NS and TVS Motor TVSM.NS, up ~1% and 1.2%

** Auto companies are seeing early signs of demand recovery on improved sentiment ahead of goods and services tax cuts, analysts at Nomura said

** The cuts have translated into immediate benefits for buyers and firms are reporting stronger enquiries, surge in bookings and an improved outlook for festive demand - Nomura

** MAHM is Nomura analysts' top pick

** The auto index is up ~18% so far in 2025 vs 6.5% rise in Nifty 50

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of Tata Technologies TATE.NS gain as much as 2.7% to 720.75 rupees; last up 1.4%

** Tata Tech, through its Singapore unit, acquired German auto engineering services firm ES-Tec GmbH

** Acquisition in an all cash deal valued at 75 million euros ($88 million)

** Stock hits highest level since late-July

** Analysts' avg rating on stock is "sell," median PT is 590 rupees - data compiled by LSEG

** Year-to-date, TATE down ~20%

($1 = 0.8523 euros)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Jefferies says speculation over shifting index expiries to fortnightly or monthly and aligning them on the same day could have varied impacts on India's BSE BSEL.NS and Nuvama Wealth NUVA.NS.

** Says keenly monitoring India market regulator board meeting, due later in the day

** Adds BSEL, NUVA stocks have priced-in speculations regarding the changes, stocks down 20%, ~23% since June-end; reports on the changes first started in early-July

** Share price of both BSEL and NUVA can fall further in case of monthly expiry scenarios - Jefferies

** YTD, BSEL up 24%, NUVA down ~8%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of power generation major Adani Power ADAN.NS gain 2.6% to 650.75 rupees

** Co bagged an order from MP Power Management Company to set up an 800-gigawatt (GW) coal power plant in Madhya Pradesh state

** Cumulative order value from MP Power Management Company to ADAN now stands at 210 billion rupees ($2.38 billion)

** Stock eyes busiest trading session since mid-Jan, volumes at 13.5x the 30-day avg

** Stock up ~23% so far in 2025

($1 = 88.1260 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of Indian textile firms jump after U.S. President Donald Trump says his administration is continuing negotiations to address trade barriers with India

** Trump and Prime Minister Narendra Modi will likely talk in "upcoming weeks," raising hopes of a deal after weeks of discord

** Welspun Living WLSP.NS leads gains, up 8.6%, followed by Gokaldas Exports GOKL.NS, up 6.8%

** Vardhman Textiles VART.NS, Arvind ARVN.NS, KPR Mill KPRM.NS rise 5%, 3.3% and 2.1%, respectively

** Alok Industries ALOK.NS, Trident TRIE.NS and Indo Count ICNT.NS up 5.4%, 5.3% and 5.5%, respectively

** WLSP, GOKL, ICNT, TRIE derive 40%-70% of their revenues from the U.S.; the country is the biggest market for India's garment exporters

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of quick service restaurant (QSR) operators gain between 1% and 3.5%

** India announced GST cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand

** While the GST rate on QSR output remains same, lower tax on key inputs like cheese, other dairy products and chicken is down to 5% from 12%

** Jefferies says Jubilant Foodworks JUBI.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS to benefit

** JUBI up 3.5%, while DEVY and SAPI rise 2.7% and 1.7%, respectively

** McDonald's India operator Westlife Foodworld WEST.NS climbs as much as 4.9%, last up 1.1%

** JUBI, SAPI, WEST rated "hold" on avg, DEVY rated "buy" - data compiled by LSEG

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of MOIL MOIL.NS gain as much as 8.4% to 373.9 rupees, last up 6.2%

** Stock set for best day in about six months

** Manganese ore producer reports 17% y/y growth in August production; sales grew 25.6%

** MOIL eyes busiest trading session since late-July, volumes at 3.4x the 30-day avg

** Stock up 10.5% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Reliance Industries RELI.NS says it is planning to take its telecoms and digital arm Jio Platforms public by mid 2026

** RELI falls 0.4%

JIO LISTING TIMELINE A KEY POSITIVE

** Citi ("buy"; PT: 1,690 rupees) says Jio listing plans key highlight from co's annual general meeting; expects meaningful value unlocking for RELI from IPO

** J.P.Morgan ("overweight"; PT: 1,695 rupees) says IPO plans increase probability of higher tariffs, which will likely be catalyst for RELI

** Jefferies ("buy"; PT: 1,670 rupees) says listing plan could bode well for all Indian telecos as it will likely trigger tariff hikes, with estimated 20% cumulative tariff hike for Jio by FY27

** Macquarie ("outperform"; PT: 1,650 rupees) says clarity on IPO timeline a key positive for Reliance; sees multiple growth drivers for Jio

($1 = 87.5060 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of RBL Bank RATB.NS gain 4.3% to 261.65 rupees; set for best day since early-July

** Societe Generale SOGN.PA net bought 3.3 million RATB shares for 250.57 rupees apiece via bulk deal, exchange data showed

** About 28.2 million shares traded, 2.3x the 30-day avg

** Stock still down 1.9% so far in August, set to snap five straight months of gains

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of SMS Pharmaceuticals SMSP.NS jump 7.4% to 248.48 rupees; set for best day since late-April

** The U.S. FDA concluded inspection at its Hyderabad facility in Telangana state with no observations

** Stock on track for busiest trading session in two months, volumes at 7.7x the 30-day avg

** Year-to-date, stock up 4%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Indian solar module maker Vikram Solar VIKO.NS surges about 9% on first day of trading

** Stock opened at 338 rupees, 1.8% higher than issue price of 332 rupees; last up 8.86%

** Its 20.79 billion rupee (~$238 million) IPO was subscribed 54.63 times, led by 142.79x bids from qualified institutional buyers

** Co valued at 131.79 billion rupees ($1.51 billion), as of 10:28 a.m. IST

** IPO consists of fresh shares worth 15 billion rupees and shareholders offloading 5.79 billion rupees of shares

** Proceeds from the issue will be used to fund expenses and invest in subsidiary VSL Green Power

($1 = 87.5060 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of mining and infra co GOCL Corp GOCL.NS dip 3.3% to 384.25 rupees; set to snap four straight sessions of gains

** On Friday, Hinduja Capital, co's large shareholders' group offloaded 800,000 shares priced at 389.58 rupees apiece, exchange data showed

** A large shareholders' group is known as promoters or promoters' group in India

** Hinduja Capital held 72.82% stake or 36.1 million shares in GOCL, as of June 30

** Session's losses trim YTD gains to ~6%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** India's top carmaker Maruti Suzuki MRTI.NS up 10.4% so far in the week, on track to log its biggest weekly gain since March 2022

** MRTI, the country's biggest seller of small petrol cars climbed ~9% on Monday after the government's plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars

** The plan includes lowering GST on small cars to 18% from 28%, among other changes; plans to be announced by Diwali festival in October

** Analysts at Nomura estimate a 5-10% boost to auto demand from the cuts

** Around 68% of MRTI's portfolio is taxed at the 29% slab and the reduction of the rate to 18% implies high upsides for the stock - Nomura

** Stock biggest weekly gainer on the auto index .NIFTYAUTO, which is up 5% in the period; index on track for best week in three months

** Share of MRTI were trading 0.5% higher on the day, while auto index was down 0.2%

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Shares of Prince Pipes and Fittings PRCE.NS climb 5.5% to 346.5 rupees; their highest level in over a month

** Motilal Oswal analysts say domestic pipes sector is at the cusp of recovery, citing a gradual uptick in prices after an anti-dumping duty on PVC pipes imports and improved demand

** Expects growth momentum to recover from Q2FY26 onwards; adds product prices have bottomed out, and non-integrated pipe firms like PRCE are likely to be key beneficiaries

** Add, PRCE margins expected to improve sequentially in Q2, to reach 12% by Q4

** PRCE posted 8% EBITDA margins in Q1FY25

** Brokerage rates PRCE "Buy", TP at 440 rupees - reflecting a 25.4% upside on last close

** Stock rated "Buy" on avg, median PT at 350 rupees - data compiled by LSEG

** PRCE is down 19% so far in 2025

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

** Hindustan Aeronautics (HAL) HIAE.NS rises 2.1% to 4,545 rupees

** Government approves order for 97 fighter jets worth 620 bln rupees ($7.12 bln) from HAL, local media reports, citing sources

** HAL did not immediately respond to Reuters' request for comment

** HIAE gains ~9% YTD

($1 = 87.1260 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

((Manvi.Pant@thomsonreuters.com; +918447554364;))