Rounaq Bakshi notes

  Jio Financial share price: RIL chairman Mukesh Ambani and his promoter group will infuse ₹15,825 crore in Jio Financial Services,  which would make them hold over a 51% stake in the financial services firm. Jio Financial Services : Shares of Jio Financial Services (JFSL), the non-banking finance company (NBFC) and a subsidiary of Reliance Industries (RIL), rallied as RIL chairman Mukesh Ambani and his promoter group will infuse ₹15,825 crore in Jio Financial Services, which would make them hold over a 51% stake in the financial services firm. The fund infusion will take place through preferential issue of convertible warrants to the promoter group. Jio Financial promoters, including the Ambani family and different group holding entities, together own 47.12% of the company. Post preferential issuance, promoter group holding would go up to 54.19%. Jio Financial and Allianz Group deal In July 2025, Jio Financial Services (JFSL) and Allianz Group of Germany, through its wholly o...

  ACTION CONSTRUCTION EQUIPMENT: leading market share of 60% in Tower Cranes segment domestically Revenue declined by 7.7 % YoY due to adoption of CEV - 5 Emission norms, early onset of monsoons and global uncertainties.  Going ahead, expect the market to normalise from Q3 onwards. Despite the challenging macro environment, margins expand on YoY basis: EBITDA expands by 389 BPS to 20.46% PBT expands by 346 BPS to 18.16%  PAT expands by 284 BPS to 13.89% Margin expansion was led by: a) Calibrated pricing action with CEV-5 norms implementation b) Deepening Cost Efficiencies c) Softening commodity prices The macroeconomic fundamentals of the Indian economy remain resilient despite volatility in the operating environment. Lower inflation, reduction in interest rates & liquidity support by RBI, tax cuts announced in the recent Union Budget are expected to aid recovery and support growth revival in the coming quarters ACTION CONSTRUCTION EQUIPMENT LIMITED was established in...

  SIS Ltd: Smallcap theme Security Solutions – FY25 India The Security Solutions- India business comprises of five entities.  Continue leadership position as the largest security solutions company in India.  The business currently operates across 177 branches and has 192,354 employees.  Security Solutions – FY25 International   The Security Solutions- International business comprises four entities.  Continue to be #1 player in Australia and among the top 3 players in New Zealand & Singapore with market leading positions in all the geographies.  The International Security business currently has 9,707 employees     Facility Management Solutions  The facility management business comprises of five entities.  The Group operates the largest FM business in India.  The FM business currently operates across 93 branches and has 82,462 employees  

  Premiumization in India: Unlocking investment opportunities Do you know what is common between India's automotive, FMCG, real estate, electrical goods, travel, and even alcoholic beverage industries? That is of Premiumisation. Post one year of COVID-19, a secular trend of premiumisation has been driving profitability growth across a number of industries.  As disposable incomes rise, more Indian families are transitioning into higher income brackets. We also observed secular shifts in attitudes towards saving (decline in Gross Domestic Savings) and a shift in cultural attitude of having more willingness to spend. The traditional, conservating, savings-oriented consumer outlook has given way to consumers seeking better products, services and experiences. This shift is reshaping consumer behaviour, presenting a wealth of opportunities for investors. Investing in Tomorrow: Opportunities for Investors For investors, the premiumization trend opens up new avenues. Companies that ca...

Arvind SmartSpaces adds a new residential high-rise project in Bengaluru with a top-line potential of ~Rs. 550 crore  The project is spread across 4.18 acre and has a saleable area of 4.6 lakh sq. ft. Dec 15, 2025: Arvind SmartSpaces Limited (ASL), one of India’s leading real estate development companies, part of the Lalbhai group, announced that it has acquired a new residential high-rise project in Whitefield, Bengaluru with a total estimated saleable area of ~4.6 lakh sq. ft. and a top-line potential of ~Rs. 550 crore.  The project is acquired on an outright basis.  This project is located in Nallurahalli area in Whitefield, Bengaluru.  This addition follows the acquisition of the ITPL road high-rise project signed in FY25.  Whitefield continues to be one of the most dynamic real estate markets in Bengaluru, consistently attracting strong demand from professionals and families seeking premium living spaces. Over the past decade, the region has evolved into a ...

 ASSOCIATED ALCOHOLS & BREWERIES: Exclusive Diageo Contract Manufacturing Partners ASSOCIATED ALCOHOLS & BREWERIES LTD Q1FY26 : Profit After Tax grew by 34 % YoY increase Strategic Partnership • 2 Decades of Partnership with Diageo. • One of Four Exclusive Diageo Contract Manufacturing Partners. Q1FY26 – Performance HIGHLIGHT Net Revenues from operations remain flat on a YoY basis, standing at ₹2,667 million EBITDA surged 32% YoY to ₹371 million, with margins improving to 14%, an expansion of 300 bps, due to softening of Rice prices. Profit After Tax grew by 34 % YoY increase, amounting to ₹237 million. Diluted EPS for the quarter stood at 12.43, an increase of 27% YoY. • IMFL Sales On Track:Momentum sustained across key brands like Central Province, Vodka, Hillfort, and Nicobar.  • Geographic Expansion : Launched in Maharashtra and Uttar Pradesh. Next to be launched in Puducherry and Goa  • RTD Lauch Update: Lauch slightly delayed due to equipment related issues....

Fredun Pharmaceuticals: microcap theme Fredun Pharmaceuticals Reports 61% YoY Growth in EBITDA to ₹39.33 Cr in H1 FY26 Commenting on the financial performance Mr. Fredun Medhora, Managing Director, said, “Q2 FY26 was a strong quarter for Fredun, driven by consistent growth across our pharmaceutical and pet care verticals. Our domestic formulations segment continued to deliver solid performance through new product introductions and expanding institutional demand, while exports maintained steady traction. We have commenced expansion of our state-of-the-art manufacturing facility at Palghar to enhance capacity, improve operational efficiency, and support the growing demand across both domestic and international markets. The past few months have been pivotal in shaping Fredun’s position as a first mover in India’s organized pet healthcare space. The launch of Snacky Jain—India’s first Jain functional food for pets—received an overwhelming response, with the entire first batch sold out thro...