
Stocks to Watch: NTPC, Ashok Leyland, JSW Steel, Paras Defence, Glenmark Pharma and more
Ashok Leyland: For the first time since 2011, Ashok Leyland announced a 1:1 bonus share issue. Alongside this, the company declared a dividend of ₹ 4.25 per share, resulting in a total payout of ₹ 1,248 crore. In the March quarter, the company reported a 38.4 percent year-on-year increase in net profit, which rose to ₹ 1,246 crore, aided significantly by a one-time tax credit of ₹ 173 crore. Revenue for the quarter grew 5.7 percent to ₹ 11,907 crore.
NTPC: NTPC, the largest power producer in the country, reported a 22.6 percent quarter-on-quarter increase in profit, which rose to ₹ 5,778 crore for the March quarter. Revenue during the quarter stood at ₹ 43,903.7 crore, reflecting a sequential growth of 6 percent.
JSW Steel: JSW Steel posted a 15.7 percent year-on-year rise in consolidated net profit to ₹ 1,503 crore for Q4FY25. The performance was supported by lower coking coal prices and better operating margins, which contributed to improved profitability.
Paras Defence and Space Technologies: Paras Defence and Space Technologies signed a strategic joint venture agreement with Israel-based Heven Drones. This partnership is set to enable the manufacturing of logistics and cargo drones in India. These drones are intended for both defence and civilian applications, marking a significant diversification in the company's operational scope.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals reported a stable performance for the March quarter. Revenue increased 6.3 percent year-on-year to ₹ 3,256 crore, while EBITDA rose by 11.2 percent. The company's adjusted net profit, excluding one-off items such as the generic Zetia litigation costs, stood at ₹ 347 crore. It also reported an EBITDA margin of 17.2 percent for the quarter.
Finolex Industries: Finolex Industries reported a 5 percent year-on-year decline in revenue, which came in at ₹ 1,171.8 crore. Net profit remained steady at ₹ 165 crore. However, the company faced margin pressure, with EBITDA falling 18 percent to ₹ 171.3 crore. EBITDA margin narrowed to 14.6 percent from 16.9 percent in the same quarter of the previous year.
Ashoka Buildcon: Ashoka Buildcon reported a strong 73.2 percent increase in net profit for the March quarter, which rose to ₹ 432.2 crore compared to ₹ 249.6 crore in the same period last year. Revenue for the quarter stood at ₹ 2,694.4 crore, which was 11.7 percent lower than ₹ 3,052 crore reported in the corresponding quarter of the previous year.
GE Vernova T&D India: GE Vernova T&D India reported a nearly three-fold increase in its net profit for the March quarter, which rose to ₹ 186.49 crore, driven by higher revenues. Total income for the quarter increased to ₹ 1,173.65 crore from ₹ 919.31 crore a year earlier. For the full financial year 2024-25, the company's net profit surged to ₹ 608.33 crore from ₹ 181.05 crore in the previous year, while total income rose to ₹ 4,354.89 crore from ₹ 3,190.46 crore.
Jaiprakash Associates: Lenders of Jaiprakash Associates approved a planned cash expenditure of ₹ 936.27 crore for the ongoing quarter. This amount includes ₹ 856.73 crore earmarked for routine operational expenses and ₹ 79.54 crore allocated for one-time costs, aimed at supporting the company's efforts to sustain operations.
Havells India: Havells India announced a ₹ 340 crore investment to expand cable manufacturing capacity at its Alwar facility. Post-expansion, the total annual cable production capacity at the plant is expected to reach 41.45 lakh kilometres. This capital expenditure is intended to cater to rising demand and enhance operational efficiency.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Hindustan Times
an hour ago
- Hindustan Times
Bengaluru Rains: Here's how proptech tools help homebuyers assess flood risks before investing in real estate
As flooding becomes a growing concern in rain-hit Bengaluru, homebuyers and investors are treading carefully when it comes to buying property. In response, a group of tech professionals has stepped in with innovative proptech tools to help buyers make smarter investment decisions. A few software developers and real estate startups have put together a proprietary web-based platform that goes beyond traditional property listings. The application includes detailed flood-risk data highlighting low-lying zones, natural drainage paths, past flooding history, and proximity to water bodies or drainage bottlenecks. This offers buyers a clear understanding of flood vulnerability in different areas, particularly during heavy rainfall, helping them make more informed decisions before investing in property. The tools, which are available free of cost, have already started influencing buyer behaviour. While flood-prone areas haven't entirely lost demand, informed buyers are using the data to negotiate better prices or consider alternate locations. Developers, too, are beginning to take notice, with some reportedly using the insights to design better drainage systems or avoid risky parcels of land altogether. Aman Bhargava, developer and designer who designed the platform said, "This tool is built around the topography of Bengaluru. We've conducted a comprehensive hydrological analysis to understand the natural flow of water in the city. On the map, deeper blues represent natural water channels, and these are the zones most likely to experience waterlogging." Bhargava said the team continuously updates the map. For example, immediately after the recent floods in Bengaluru, he added 20 to 30 new points to the city's map, highlighting areas at high risk. "This is all based on how water is actually flowing. If an area lies at the confluence of two natural drains, like Manyata Tech Park, it's bound to collect water and flood during heavy rains." In another instance, a Bengaluru-based real estate startup that operates on a brokerage-free model has taken the concept further. The company developed proprietary web-based software that not only lists properties for sale but also overlays each listing with detailed flood-risk information. This includes past flooding history and proximity to natural water bodies or drainage bottlenecks, insights that are often missing from traditional property listings. "Our platform is just six months old, but we added the flood-risk feature only last week, after heavy rains once again caused major waterlogging across the city. The current version of the map doesn't factor in existing infrastructure like bridges or underpasses. Instead, it's based purely on the natural topography of Bengaluru and how water flows through the terrain, including groundwater patterns," Tarun Firodiya, CEO, Jumbo said. The map gives buyers options to simulate different weather conditions, sunny, light rain, or heavy rainfall, so that they can understand how waterlogging could impact specific areas under each scenario, he said. The platform currently focuses on resale properties, and according to Firodiya, the team is already working on new updates that will incorporate real-time infrastructure changes, for instance, assessing how the construction of a new bridge could alter water flow patterns in the area and potentially affect flood risk. "Looking ahead, we're also working on rolling this out in cities like Gurgaon and Noida, where the main concerns are different, like air quality or AQI. We'll eventually integrate data showing how new infrastructure affects property appreciation in those areas too," he said. Experts in the real estate sector have called it a significant step toward building climate-resilient cities. As flooding becomes a recurring challenge across Indian metros, tools like these could become essential, not just for homebuyers, but for developers, they say. "First, at the planning stage, there are companies that specialize in groundwater mapping and drainage planning. Second, during the asset management stage, when a building is under construction or already operational, these startups can come in and solve issues if flooding becomes a problem," Aiyappa Somayanda, Chief Business Officer, Brigade REAP. Launched in 2016, accelerator programs like Brigade REAP mentor early-stage startups in real estate tech. "At Brigade REAP, we're currently supporting several such startups. But I think what's missing and very much needed are startups that help individual homebuyers. If someone's looking at a home in Sarjapur, for instance, they shouldn't just know about the project they're buying into they need a hyperlocal understanding of the entire area," he added. Flood risk has become a key concern for investors, say real estate experts. 'The first thing buyers want to know today is whether the location is prone to flooding,' said Disha Mohan, a realtor at Coldwell Banker. 'In areas near lakes, particularly in Sarjapur and the eastern parts of the city, flooding has become a serious issue. Investors are definitely more cautious and discerning now.' Also Read: 'Does the area flood?' Bengaluru homebuyers and investors now have fresh real estate worry Frequent waterlogging in high-demand localities like Sarjapur, Marathahalli, and Yemlur has made flood risk a decisive factor in home-buying decisions. Experts say even premium gated communities and luxury villas have been hit by rising water levels during the monsoon, prompting both investors and end-users to reassess where and how they invest in Bengaluru.


Time of India
an hour ago
- Time of India
Indian firms target overseas assets to fast-track semiconductor ambitions
Strategic overseas acquisitions by India's nascent semiconductor companies are set to emerge as a key enabler for the country's ambitions in chip manufacturing and assembly, ensuring access to proprietary expertise, precision equipment, and critical intellectual property, experts told ET. Indian firms including Tata Electronics and L&T Semiconductor Technologies (LTSCT) have recently made significant moves to acquire foreign assets even as they invest in greenfield facilities within the country. These acquisitions bring experienced engineering teams and operational know-how, which are essential for upskilling local workforces and establishing robust training pipelines, explained Kunal Chaudhary, partner and co-leader, inbound investment group, at EY India. LTSCT and Kaynes Semicon are jointly acquiring the power modules business of Fujitsu General Electronics, based in Japan, while opto-semiconductor maker Polymatech last year acquired US-based semiconductor equipment provider Nisene Technology Group to build an integrated chip manufacturing business. Tata Electronics is exploring takeovers of semiconductor fabrication and outsourced semiconductor assembly and test (OSAT) facilities in Malaysia. Chaudhary said while India has already built a strong presence in chip design, moving into OSAT — a high-margin segment that includes advanced packaging and assembly — will be key to climbing the value chain. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories With advanced packaging technologies becoming critical to semiconductor innovation, India's entry into this space could enhance its global positioning, he said. After Kaynes and LTSCT announced acquisition of Fujitsu General's power modules business for Rs 118.34 crore on Monday, Kaynes CEO Raghu Panicker said the deal opens up new avenues for advanced semiconductor packaging excellence. 'This move strengthens Kaynes' OSAT capabilities, while aligning with our long-term strategy of supporting global original equipment manufacturers through best-in-class technology and scalable infrastructure,' he told ET. Kaynes is one of the four companies under the India Semiconductor Mission 1.0 building OSATs in the country, while Larsen & Toubro has invested more than $300 million to create its fabless chip company LTSCT. ET on June 3 reported that Tata Electronics is in talks with several global semiconductor companies to acquire a fabrication or OSAT plant in Malaysia. The move is aimed at bolstering the Tata Group company's knowledge and talent base ahead of its ambitious foray into semiconductor fab, assembly and packaging in India. 'Most acquisitions and partnerships at the moment are really about two things: gaining access to trained talent – essentially acqui-hires – and jump-starting work on cutting-edge technologies,' said Prithvideep Singh, general manager at Mohali-based Continental Device India Ltd (CDIL) that has a partnership with German semiconductor manufacturer Infineon Technologies. 'Gaining access to know-how is only half the battle,' he said. 'Transferring it to Indian operations and building capability within local teams…demand years of groundwork, deep technical maturity, and process discipline.' Infineon supplies high performance silicon wafers, and CDIL packages and distributes advanced power semiconductors like MOSFETs and modules specifically tailored for the Indian market, including for electric vehicles and renewables. 'All the JVs and strategic partnerships are a result of the need for Indian entities to build their core competency with best in class proven technology and manufacturing processes,' said Neil Shah, cofounder and vice-president, research, at Counterpoint Research. He noted that matured nodes foundry and back-end packaging OSAT/ATMP are low hanging opportunities for new entrants. 'Building fabs for advanced nodes is still a distant dream for Indian enterprises as there are just three big players like TSMC, the leader, and Samsung and Intel, which are still struggling versus TSMC,' Shah said. 'So, high value fab will take time if at all one of them decides to set up in India in future, if the other ecosystems develop handsomely,' he explained. Biswajeet Mahapatra, principal analyst at Forrester, said acquiring assets of foreign entities allows Indian companies to access advanced technologies like wafer-level packaging, 2.5D/3D integration, and chiplet-based designs, which are critical for modern semiconductors. By leveraging foreign expertise and infrastructure, Indian companies can reduce reliance on imports for high-end packaging solutions and meet the growing demand from global OEMs like Apple and Intel, he explained. For the broader ecosystem, overseas acquisitions and partnerships can help bridge critical capability gaps. Given the current talent crunch in India, they offer a smart and often necessary path for companies entering the sector, experts said. But the real challenge lies in how effectively that know-how is embedded into Indian operations and scaled with consistency and quality, they added.


Time of India
an hour ago
- Time of India
RBI keeping a close watch on newly-licensed payment firms
The Reserve Bank of India has tightened its scrutiny of newly licensed payment aggregators with regular audits and close inspection of the procedures they follow, according to industry executives. After the regulator brought digital payments within its ambit, it is also trying to ensure that payment firms do not have any loose ends through which fraudsters can get access to the wider banking ecosystem. 'One of the things the RBI wants to know is if these merchants are genuine, if they are actual online businesses,' said a chief executive officer of a payments firm, requesting not to be named. 'The idea is to keep the ecosystem free from fraudulent merchants.' KYC (know your customer) is one important aspect that the RBI is looking at very closely, the people cited earlier said. There is a draft proposal that the regulator had circulated regarding making full KYC mandatory for every merchant being onboarded by payment aggregators. The circular is yet to be implemented. ETtech Live Events The executive cited earlier further said RBI officials are also calling up field staff to check if KYC procedures laid out by the company are being followed by agents on the ground. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Payout is an important area of concern for the payments industry, people said. Payouts are processed when any business instead of accepting payments wants to pay either its vendors, cashbacks to customers or process ecommerce returns. 'The question the industry is pondering over is how should these payouts be processed, if they need to be moved via the settlement accounts only,' the executive cited earlier said. The regulator has given out licences to some 54 companies which are allowed to operate as online payment processing entities. Now it wants to ensure that these companies are strictly abiding by norms with regards to supporting payments for online merchants. 'We have always been scrutinised by banks, but bank audits were mostly procedural, something which we were used to, but now RBI audits have become much more stringent and they want to ensure that the rules are being followed across the organisation,' a senior executive at a payments firm said. The RBI is also pushing these fintechs, which in most cases are venture-funded startups, to have strict board-approved policies followed by the management teams. 'We have added professional independent directors to the board now and have changed many approval systems in a way that it abides by regulatory protocol. There is more hygiene that the RBI is trying to bring in,' said another chief executive officer at a Mumbai-based digital payments major. PhonePe recently appointed accomplished banker Zarin Daruwala to its board as an independent director. Earlier this year, PayU had appointed Renu Sud Karnad, former managing director at HDFC, as the chairperson. While on a monthly basis, there is data sharing with the regulator, officials also turn up at their offices on short notice, industry insiders said. 'We had an instance where officials informed us on Friday evening that they will be coming on Monday,' said the executive cited above. Overall, the message that the RBI wants to give to this emerging sector is that they need to put systems in place and stick to them. A founder at a payments firm also pointed out that the RBI is not expecting these firms who are new to the regulatory regime to already have everything in place. But it wants founders to be honest about the progress and remain transparent about it. As the Indian digital payments ecosystem grows, the RBI is also trying to ensure that these firms closely follow the best practices of the financial services industry. Previously, players such as Razorpay and Cashfree had faced regulatory ire when their customer onboarding was completely brought to a stop. Paytm needed to get government clearance regarding their international investments. PayU needed to get its Indian corporate entity to keep the RBI satisfied. The Naspers-backed company managed to get the final PA licence only in May 2025.