Newsletter
Rupee hits a new low, L'Oreal bets on Innovist, and Trump threatens Iran.
🗓️ Morning, folks and Happy Mondayy! ☀️
The rupee had a rough Friday, slipping sharply to a new intraday low of 93.49 against the US dollar.
The reasons? A stronger dollar, continued foreign investor outflows, and rising tensions in West Asia are all putting pressure on the currency. On top of that, higher crude oil prices are making things worse.
Zooming out, the trend looks worrying. The rupee is now the worst-performing Asian currency in 2026, down over 4% against the dollar.
In Middle East tensions,
US President Donald Trump has warned that if Iran doesn’t reopen the Strait of Hormuz within 48 hours, the US could strike and destroy its power plants, a sharp escalation just a day after he signalled the war might wind down.
Meanwhile, Iran said on Sunday that if the US goes ahead with its threat to attack its power grid within 48 hours, it will retaliate by targeting the energy and water systems of neighbouring Gulf countries, raising tensions in the already three-week-long conflict.
Let’s hit it! 💪🏻
1 Big Thing: Why Tata Power’s Mundra plant matters again? 🧐
Tata Power is back in the spotlight after signing a power purchase agreement with the Gujarat government for its Mundra plant, and the market liked it.
The background: the Mundra project was originally built to deliver cheap electricity using a large, modern coal-based power plant.
While it has helped power homes and industries, not everyone has benefited. Local fishing communities say the plant disrupted their lives. They reported ash pollution, damage to marine ecosystems, and a sharp drop in fish catch.
On the business side too, things haven’t been smooth. The plant depended on low-cost coal from Indonesia. But in 2011, Indonesia introduced pricing rules that pushed coal costs higher, making power generation more expensive for Tata Power.
The plant was also not operational for months because the government withdrew an emergency clause that compensated companies for using costly imported coal. This led to losses of around ₹800 to ₹1,000 crore during that period.
Why this matters now: India needs power, and it needs it urgently. With tensions rising in the Middle East and fears of gas shortages this summer, the country is looking to squeeze more output from its coal plants.
In that context, bringing Mundra back into the mix isn’t just good news for Tata Power, it’s critical for keeping the running households.
2. Israel & India’s $11M drone pact 💪🏻
India and Israel are taking their partnership up a notch, this time in the world of AI and drones.
What’s poppin’: Israel-based robotics firm XTEND has signed an $11 million deal with India’s Rayonix Tech to manufacture and distribute unmanned aerial vehicles (UAVs) locally.
Rayonix isn’t your typical drone company. It’s known for building advanced X-ray imaging systems used in scientific research. But with this deal, it’s stepping into the defence and drone space in a big way.
Under the partnership, Rayonix will become XTEND’s exclusive partner in India. That means it will handle local manufacturing, testing, and distribution of these AI-powered drones, aligning with India’s push to build more defence tech at home instead of importing it.
Why it matters: India’s drone ecosystem is already taking off. As of February 2026, the country has over 38,500 registered drones, nearly 40,000 certified drone pilots, and 244 approved training organisations.
3. India’s favorite ways to save 👀
Most Indians still prefer playing it safe with their money.
A large share is parked in bank deposits, followed by life insurance, showing a clear tilt toward security. While mutual funds and other market-linked options are growing, they still form a much smaller portion.
Even cash continues to hold a meaningful share. In simple terms, despite more investment options today, households largely prioritise safety, stability, and guaranteed returns over taking higher risks for potentially better gains.
4. Can Dhurandhar 2 rescue PVR Inox?
India’s box office is down nearly ₹700 crore this quarter. And one film might fix it. Dhurandhar 2 has already crossed ₹200 crore in advance bookings, sold over 14 lakh tickets, and is expected to do ₹1,000+ crore lifetime.
For PVR INOX, this is survival math. A weak content pipeline dragged Q4. Footfalls dropped, ad revenues stayed soft, with occupancy risked slipping. But one blockbuster can change everything.
5. Stocks that kept us interested 🚀
What went up ⬆️
📈 Godawari Power and Ispat jumped over 4.7% after it increased investment in its subsidiary Godawari New Energy by converting preference shares into equity.
🗼 Vodafone Idea stock rose over 4% after subscriber losses slowed to just 4.11 lakh in January (lowest in 2 years), signaling early signs of stabilisation in its user base.
💸 VA Tech Wabag went up 3% after it won a large order to build a 19 MLD wastewater treatment plant in Georgia, funded by the European Investment Bank.
🚛 Samvardhana Motherson International jumped 2% after it formed a joint venture in Dubai with Hellmann, aiming to expand its logistics and supply chain solutions business.
What went down ⬇️
🛢️ Petronet LNG shares fell nearly 5% as investors grew cautious about the impact of Iranian attacks on Qatar’s Ras Laffan, a major global LNG export hub.
🏦 MCX shares slipped nearly 4.5% as NSE launched gold futures with lower margins and home delivery, increasing competition in commodity trading markets.
What else are we snackin’ 🍿
⚡ IPO filed: Polite Powertech filed its DRHP with SEBI to raise funds via a public issue, aiming to support working capital and corporate needs.
🛡️ Export shield: India rolled out a ₹497 crore insurance support scheme to help exporters manage rising costs and risks amid Middle East disruptions.
🤝 AI MoU: TCS signed an MoU with ABB to expand AI and IT collaboration, even as its shares hit a 52-week low and remained under pressure.
💄 India bet: L’Oréal is in advanced talks to acquire a majority stake in D2C startup Innovist at a $350-450 million valuation, strengthening its India presence.
That’s a wrap! Don’t let the Monday blues get to you.
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