Newsletter
Visa shock hits IT, pipe projects, and gold shines bright.
š Morning, folks!
The week began on a weak note as Sensex & Nifty slipped Monday, weighed down by a sharp sell-off in IT stocks. Autos and pharma also felt the heat, dragging the indices lower after last weekās strong run.
On the positive side, Adani Group shares stole the spotlight, extending their Friday rally with gains of up to 20%. Muthoot Finance sparkled with a 4% rise on record gold prices.
Broader markets told a mixed story as IT, pharma and midcaps bore the brunt of the sell-off, but metals, infra plays, and gold financiers provided a sliver of relief.
š” Spotlight: Trumpās visa bomb sinks IT stocks
Indian IT took a hammering after Donald Trump vowed to slap a $100,000 annual fee on H-1B visas. The Nifty IT index tumbled 3.5% intraday, compared to just a 0.5% dip in the broader Nifty.
Every IT name bled red. Mphasis slid nearly 5%, while Coforge and Persistent dropped over 4%. Heavyweights TCS, Infosys, Wipro, and HCLTech also lost 3-5%, as markets braced for higher costs and tougher access to their biggest market, the US.
1 Big thing: India builds its own oil fleet š¢
Shipping Corporation of India (SCI) has teamed up with BPCL, HPCL, and IOCL to create a homegrown shipping fleet that will carry crude, fuel, and petrochemicals across international oceans and along Indiaās coasts. The stock gained more than 3% following the update.
The deets: the tie-up, backed by the Ports & Shipping Ministry and the Petroleum Ministry, aims to acquire, own, and manage vessels. These ships will handle both international trade and coastal transport of petroleum, petrochemicals, and hydrocarbon cargoes.
The strategy: the move ensures India wonāt have to lean heavily on foreign fleets for oil transport. Building a domestic fleet with state-backed oil companies gives SCI assured cargo, long-term visibility, and lower dependence on volatile charter markets.
Zoom out: Indiaās shipping sector carries nearly 95% of the countryās trade by volume, but most oil and gas shipping is still handled by foreign fleets.
By building its own fleet with state-backed oil majors, India is saving costs & keeping control of critical energy routes making sure its fuel lifeline isnāt at the mercy of global shipping giants.
While we are on deals,
Garden Reach Shipbuilders & Engineers (GRSE) signed a $62 million contract with Germanyās Carsten Rehder to build four Hybrid Multi-Purpose Vessels (MPVs.
Hybrid Multi-Purpose Vessels are ships that can carry all kinds of cargo, from bulk goods to giant windmill parts while using cleaner, fuel-efficient tech.
The deets: the vessels will be built in Kolkata and each ship will measure 120m in length & carry up to 7,500 tonnes of cargo.
Theyāre designed for bulk, general, and project cargoes, with a capability to transport large windmill blades on deck, tapping into renewable energy logistics.
Background: this deal builds on GRSEās ongoing 7,500 DWT MPV project with Carsten Rehder, which kicked off in June 2024.
Big theme: MPVs are the Swiss Army knives of shipping. They are versatile vessels that can carry everything from bulk cargo to oversized project goods.
With hybrids, they add fuel efficiency and lower emissions, aligning with global moves toward greener transport.
2. Hariom Pipe gets government support for new facility šļø
Hariom Pipe Industries Ltd. just signed a Memorandum of Understanding (MoU) with the government of Maharashtra to set up an integrated steel plant in Gadchiroli district. The proposed investment will be worth ā¹3,135 crore.
Hariom Pipe Industries is a Hyderabad-based company that manufactures and sells a range of steel pipes like HR pipes, GI pipes, HR coils etc. used in sectors like housing, automobiles, agriculture etc.
The deets: with this plant, the company will produce specialised galvanised products beyond pipes to expand their portfolio and improve profitability.
Galvanisation is the process of applying zinc on materials to prevent corrosion. These can include steel structures, walkways, bridges, car parts, railroad tracks etc.
Why this matters: the Indian steel pipes industry is valued at a volume of 13.5 million tons. This is expected to grow at 7.6% and reach a volume of 27.7 million tons by 2033. Owing to the governmentās push for sustainable growth, the demand for these steel pipes will only expand.
3. Swan Defence to pump ā¹4,250 crore into Pipavav shipyard š¢
Swan Defence hit a record high after it signed an MoU with the Gujarat Maritime Board for an investment worth ā¹4,250 crore.
The deets: the bulk of the money, about ā¹3,500 crore will go into beefing up the Pipavav shipyard, home to Indiaās largest dry dock capable of building vessels up to 400,000 DWT.
Expect new slipways, jetties, cranes, block fabrication facilities, and dredging to boost capacity for both domestic and global orders.
The bonus: the company is also setting aside ā¹200 crore for a Centre of Excellence, training 1,000 youth annually with simulators, labs, and design software.
4. Oil India, Hindustan Copper sign MoU for critical minerals āļø
Oil India (OIL) has signed an MoU with Hindustan Copper (HCL) to explore and develop critical and strategic minerals, including copper. The move marks OILās push beyond oil & gas into the minerals game. The stock gained 5% following the update.
The deets: the agreement falls under the governmentās National Critical Minerals Mission. OIL brings decades of exploration expertise, while HCL, Indiaās only integrated copper producer, handles mining and processing.
Together, theyāll target copper and related resources that are key for energy and tech.
Why it matters: critical minerals like copper are the backbone of EVs, renewables, and electronics. By collaborating, two PSUs are doubling down on Indiaās resource security, reducing import dependence, and strengthening supply chains.
Big theme: India has quietly flipped from being a net exporter of copper to a net importer.
5. Stocks that kept us interested š
1. Netweb Technologies secures large AI Infrastructure contract
Netweb Technologies shares jumped nearly 8% after it secured an order worth ā¹450 crore.
Netweb Technologies builds supercomputers, AI systems, cloud and data center solutions, offering high-performance computing hardware, storage, and enterprise IT services.
Whatās happening: the order is for supplying Tyrone AI systems powered by advanced GPU chips. It was placed by one of the largest India-based global tech distribution and supply chain companies.
These AI-powered systems will be used to build strong infrastructure facilities that support artificial intelligence.
Why it matters: the big order for AI GPU systems shows how fast artificial intelligence is catching on in India. AI GPU systems are special computers with powerful chips designed to run AI programs faster and handle large amounts of data.
By winning this deal, Netweb Technologies can expand into supplying advanced AI computing solutions, offering high-performance GPU systems to more companies across India, and eventually targeting international markets with their AI hardware and services.
2. L&T expands renewable footprint with ACWA Power š¤
L&Tās renewable energy arm has signed a Memorandum of Understanding with ACWA Power for the Yanbu Green Ammonia Project in Saudi Arabia.
ACWA Power develops, invests in, and operates power generation, water desalination, and green hydrogen projects, focusing on sustainable, large-scale infrastructure solutions.
The deets: the agreement creates a framework for both companies to design the best system and meet performance goals for the renewable power and grid part of the project.
The Yanbu Green Hydrogen Hub will be a fully integrated facility powered only by solar and wind energy. It will include solar power plants, wind farms, battery storage systems, substations, and transmission lines to generate and manage electricity for the entire project.
Why it matters: the Yanbu Green Hydrogen Hub is expected to be one of the worldās largest green ammonia and hydrogen projects.
For L&T, this deal cements its position as a serious global player in green hydrogen and renewable infrastructure, especially in the Middle East.
What else are we snackinā šæ
š”Eyeing d-street: Laser Power & Infra is eyeing a ā¹1,200-1,500 crore IPO, with SEBI filing expected this month.
āØ Shining high: Gold futures hit a record ā¹1.11 lakh per 10 grams, rising ā¹799, as traders await US inflation data and Fed cues.
š Growth peak: Indiaās infrastructure sector grew 6.3% in August, its fastest pace since May 2024, led by coal, steel, cement and fertilisers.
Thatās a wrap! Donāt let the weekday blues get to you.
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