Newsletter
Wind profits surge, onboarding biz bags fresh funds, and power lines get a glow-up.
🗓️ Morning, folks! ☀️
💡Spotlight: Auto sales hit record high 🚗
Passenger vehicle sales kicked off the year in style, clocking fresh records and double-digit growth.
In January, domestic dispatches rose 12.6% to 4.50 lakh units, up from 3.99 lakh a year ago. That makes it one of the strongest January performances on record.
Production held steady at 4.58 lakh units, while exports increased sharply, up 33.4% to 0.77 lakh units during the month.
The growth came from steady demand at home and stronger overseas shipments. Supply chains remain stable, and new model launches continue to support volumes.
Let’s get into it!
1 Big thing: Wind business profit jumps sharply 🌬️
Inox Green Energy posted a sharp jump in Q3 profits, backed by solid revenue growth and better operating leverage.
The numbers
- Net profit at ₹24.7 crore, from ₹4 crore last year, up more than 500%
- Revenue at ₹81.8 crore vs ₹61 crore, up 34% YoY
- Total income at ₹111.7 crore, up from ₹73.9 crore
The how: the boost came from stronger revenue in its core operations and maintenance (O&M) business.
As wind projects scale up, recurring servicing contracts bring steady cash flows. With costs rising at a slower pace than income, margins expanded, that’s operating leverage kicking in.
Zoom out: Inox Green manages wind turbine generators and related infrastructure.
As India pushes toward 500 GW non-fossil capacity by 2030, the need to maintain and optimise renewable assets is only rising.
2. Swiss biotech pact signals big pharma move 🧬
Shilpa Medicare has signed a binding agreement with Switzerland-based NXI Therapeutics AG to develop and manufacture a new drug candidate.
Breaking it down: the manufacturing agreement is for a New Chemical Entity (NCE) targeting autoimmune and alloimmune disorders.
Autoimmune and alloimmune disorders are conditions where the body’s immune system mistakenly attacks its own cells or reacts against foreign tissues.
Shilpa will handle end-to-end responsibilities.
Big theme: the global autoimmune disease treatment market is estimated at roughly $130–150 billion today and is projected to cross $200 billion by 2030.
Within that, biologics and targeted immunotherapies are the fastest-growing segment, often priced at a premium.
3. Digital fraud check startup raises ₹476 crore 🔐
Identity verification platform IDfy raised ₹476 crore in a funding round. The company plans to use the capital to expand globally and strengthen its product stack.
IDfy helps businesses onboard customers digitally & detect fraud.
The deets: the round allows partial exits for early investors and employees. Existing backers like Blume Ventures, IndiaMART also participated.
The company will also acquire smaller tech players to strengthen its capabilities.
Zoom out: with the rollout of the Digital Personal Data Protection Act, demand for identity checks, fraud prevention, and compliance tools is rising fast. As more services move online, companies need a stronger “trust layer” to operate smoothly.
While we are on fundraises,
Anthropic closed a massive $30 billion Series G round, valuing the AI startup at $380 billion, up sharply from $183 billion in its previous round.
The funding was led by GIC and Coatue, with big names like Founders Fund, MGX, Accel, General Catalyst, and QIA also participating.
The raise comes as Anthropic battles OpenAI, which is reportedly eyeing another $100 billion fundraise.
Just last week, Anthropic grabbed headlines after launching new plug-ins for Claude that can handle document review, compliance checks, and even draft legal briefs, a move that triggered a sharp sell-off in IT stocks.
4. Inox Clean makes a big solar bet on Africa ☀️
Inox Clean Energy has partnered with RJ Corp to expand into Africa’s renewable energy space.
Inox Clean, part of the INOXGFL Group, develops and operates wind and solar projects, including hybrid plants, and manufactures solar equipment.
While RJ Corp, which runs large food and beverage businesses across Africa, brings local market knowledge and opportunities to shift its operations toward clean energy.
The deets: the joint venture has acquired Dubai-headquartered Skypower Services MENA, part of SkyPower Global.
Skypower builds and operates large-scale solar projects. It has a strong pipeline across Zambia, Zimbabwe and the Democratic Republic of Congo (DRC).
In the first phase, the partners plan to commission around 570 MW of renewable (mainly solar) energy capacity which can power roughly 4-5 lakh homes.
It also aligns with the company’s aim to build 2.5 GW of renewable capacity in Africa by FY29.
5. SUVs drive India’s passenger vehicle growth
India’s car market is tilting heavily toward SUVs.
In January 2026, passenger vehicle sales show that buyers are clearly favouring bigger, taller vehicles over traditional hatchbacks and sedans.
- Maruti Suzuki leads the pack with 1,74,529 units sold, maintaining its dominant position.
- Tata Motors follows with 70,222 units
- Mahindra clocks 63,510
- Hyundai isn’t far behind at 59,107 units, reflecting how competitive the segment has become.
Even smaller players like MG (4,843) and Renault (3,715) are participating in this shift. The data suggests a clear consumer preference - higher ground clearance, bolder styling, and perceived versatility are driving purchase decisions.
6. Stocks that kept us interested 🚀
1. Transrail wins ₹2,350 crore power grid orders ⚡
Transrail Lighting bagged fresh orders worth ₹2,350 crore largely in India’s power transmission and distribution space. The stock ended nearly 2% higher reacting to the news.
What’s the deal: a major chunk of the orders involves construction of 765 kV transmission lines. The company also secured a civil contract and select wins in its Poles & Lighting business.
765 kV transmission lines are ultra-high voltage power lines that carry large amounts of electricity over long distances from power plants to cities and states.
Zoom out: India currently has over 4.8 lakh circuit kilometres (ckm) of transmission lines and around 12 lakh MVA of transformation capacity. But that’s just the base.
With peak power demand already crossing 250 GW and projected to touch 335–350 GW by 2030, the grid needs serious expansion
What else are we snackin’ 🍿
⚡Atomic ambitions: Adani Power has forayed into nuclear energy by setting up a wholly owned subsidiary, AAEL, with an authorised capital of ₹5 lakh.
🧂 Steel upgrade: Jindal Stainless unveiled India’s first stainless steel salt container for Railways, successfully completing trials in Gujarat.
That’s a wrap! Don’t let the Monday blues get to you.
And if you’d like to place your brand on this newsletter, let us know.
Hit that 💚if you liked this issue.
