Arpit Nayak

The power major said that its order book in its solar engineering, procurement and construction (EPC) business went up to ₹15,900 crore during the quarter, up from ₹15,500 crore in the preceding quarter.

The artillery guns have passed extensive testing across various terrains, including deserts and high-altitude areas in Sikkim, confirming their readiness for induction into the Army. Created by DRDO to eventually replace the older Bofors guns, these 155 mm artillery systems have already been exported to Armenia. Tests included rigorous firing drills at heights above 13,000 feet and assessments of performance in extreme cold.

Morgan Stanley and Jefferies both issued favourable calls on the stock, highlighting GAIL's growth potential and re-rating prospects.

The company's revenue from operations came down 3.2% year on year to ₹53,904 crore, compared with the ₹55,682 crore posted in the corresponding quarter of the previous year. Indian steelmakers have been under pressure as pricing stays muted as China floods the market with cheap exports, though steel deliveries in India improved marginally during the quarter.

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The company's numbers during the quarter were likely boosted by a strong wedding season and pent-up demand due to elections and a heatwave during the first quarter, pushing several events into the second quarter.

Earnings from crude tankers saw seasonal weakness in Q2, as overall seaborne crude trade fell by 3%, influenced by soft refinery margins, the company said.

Despite the lower margins, Cochin Shipyard remains on track to achieve its annual revenue growth target of 20%-25%, the brokerage said. However, Kotak expects further margin declines in the coming quarters as the company adjusts to a more typical level of profitability without the benefit of one-time orders.

Public sector banks have outpaced private lenders in terms of profit growth so far this earnings season as provisions see a sharp drop and public lenders improve operations.

The EV company has been under the pump due to mounting consumer complaints which resulted in the Central Consumer Protection Authority (CCPA) sending a show-cause notice to the company for violating consumer rights, running misleading ads and unfair trade practices.