Newsletter
Curefoods plans IPO, H-1B fees bite, and Adani’s clean chit.
🗓 Morning, folks!
The festive buzz has kicked off in India with the start of the Navratri season and GST rate cut optimism, fueling hopes of stronger consumption and a better season ahead.
Meanwhile, markets logged their third straight weekly gain, the longest winning streak in five months. Sensex and Nifty have climbed nearly 4% over three weeks, with broad-based buying keeping sentiment upbeat.
Last week, all four main frontline indices added around 1% each.
On the sectoral front, PSU banks (+5%), realty (+4%), power (+3%), and oil & gas (+2%) led the charge. Among Nifty 50, Adani Enterprises, SBI, Eternal, and Maruti were the top movers, while Titan, Asian Paints & Nestle, dragged.
💡 Spotlight: Trump just signed a proclamation slapping a $100,000 fee on new H-1B visas. After initial confusion, the White House clarified it applies only to first-time applicants, not renewals or existing holders.
India has flagged concerns, noting the move could hit industries on both sides that depend on tech talent and innovation. IT firms are now bracing for higher costs and tighter pipelines to the US market, even as both governments weigh the long-term fallout.
1 Big thing: Hind Rectifiers buys France’s BeLink for €1M 🤖
Hind Rectifiers has acquired BeLink Solutions, a France-based robotics and EMS R&D company, for €1 million in cash. The deal sent the stock to the 5% upper circuit.
Hind Rectifiers, known for its power electronics and railway equipment, has been eyeing global expansion. BeLink brings in sophisticated robotics R&D and production infrastructure, including six fully automated lines and advanced testing gear.
The deets: in the new French subsidiary, Hind Rectifiers will hold 66% equity, while the promoter group will keep 34%.
Why it matters: this deal gives Hind Rectifiers a strategic launchpad into global markets. By acquiring BeLink, the company now gets access to robotics R&D, six automated production lines, and advanced testing gear that would have taken years (and a lot more money) to build from scratch.
Pairing that with Hind Rectifiers’ existing strength in power electronics and railway equipment means it can now design and manufacture more advanced products, faster.
Zoom out: India’s robotics and electronics manufacturing services (EMS) market is at an inflection point. The market is already worth over $20 billion and is projected to triple by 2030 as companies shift supply chains out of China.
While we are on deals,
JSW Neo Energy, a subsidiary of JSW Energy, will acquire 100% of Tidong Power Generation from Statkraft IH Holding AS at an enterprise value of ₹1,728 crore.
Tidong Power is building a 150 MW hydro project in Himachal Pradesh.
A 150 MW hydro project is like a giant water-powered generator that makes enough clean electricity to light up over a million homes
Why it matters: the buyout is part of JSW Energy’s big green push. The company wants to triple its power capacity to 30 GW by 2030, and most of that, around 70% will come from renewables like solar, wind, and hydro.
Adding Tidong’s 150 MW hydro project gives JSW a steady, reliable source of clean energy.
2. Curefoods plans for a ₹800 crore IPO 🍛
Curefoods Private Limited is gearing up to raise ₹800 crore from the public markets.
Curefoods combines multiple food brands under one roof and operates their cloud kitchens as well as physical outlets across 70 cities. Its portfolio includes EatFit, CakeZone, and Nomad Pizza.
The deets: the IPO comprises fresh issue with an offer-for-sale of 4.85 crore shares.
In short, the raise is a mix of growth push + balance sheet cleanup, with a little fuel for.
Zoom out: the Indian cloud kitchen market is slated to grow 16.7% by 2030. While the food service market at large is expected to reach $116.8 billion by 2033, at an annual rate of 10.7%. The growth rates are slated to be higher in tier 2-3 cities.
Harnessing its growing portfolio, the company can tap into its niche brands to capture a larger share of the market.
While we are on IPOs,
Epack Prefab Technologies is looking to raise ₹504 crore from public markets.
Epack Prefab constructs pre-engineered and pre-fabricated steel buildings for large enterprises.
The deets: the IPO consists of fresh issues of ₹300 crore and an offer-for-sale of ₹204 crore.
Fresh proceeds will be utlised to set up a new facility in Rajasthan, expand the existing manufacturing plant in Andhra Pradesh, debt repayment and other general corporate expenses.
3. Blue Energy raises $30M for EV trucks 🚛
Blue Energy Motors, backed by Essar and Iveco Group, has raised $30 million to kickstart its entry into the electric truck market.
Founded to clean up India’s heavy-duty transport, the company has already rolled out 1,000+ LNG trucks and now wants to add electric trucks to its fleet. Its Pune plant can manufacture up to 10,000 trucks a year, giving it scale from day one.
The deets: the round saw Nikhil Kamath chip in $10M, with the rest coming from Omnitex Industries. This fresh raise takes Blue Energy’s total capital to $50M.
The company says its electric trucks are fully developed in-house, with only technical support for the battery and motor. The official launch is slated for October.
Why it matters: this gives the company a first-mover advantage in a tough but high-potential market. By proving it can build electric trucks in-house and at scale, it strengthens its credibility with investors and fleet operators.
It also diversifies beyond LNG into EVs, aligning with India’s push for clean mobility.
MARKET BITES THIS WEEK
4. Is the Adani saga finally over?
After two years of allegations, court battles, and wild market swings, SEBI has finally given the Adani Group a clean chit. The regulator dismissed charges of stock manipulation and related-party dealings, sending Adani shares higher and prompting Gautam Adani to call it vindication.
The ruling lifts a heavy shadow that had wiped out ₹12 trillion in market value after Hindenburg’s 2023 report branded the group “the largest con in corporate history.” For Indian markets, it’s closure — a reminder that fundamentals eventually steadied even when sentiment collapsed.
But globally, the storm isn’t over. U.S. regulators are still pursuing bribery and securities fraud cases, keeping borrowing costs elevated and partners like TotalEnergies cautious.
For investors, it’s a split screen: relief at home, suspicion abroad. The group’s next test is less about winning headlines and more about delivering transparency and execution that can bridge the trust gap.
Full story here.
5. Stocks that kept us interested 🚀
1. Tata Steel picks John Cockerill for Jamshedpur project 💼
John Cockerill India share price rose after the company secured a contract from Tata Steel.
John Cockerill India designs and builds advanced steel processing equipment, offering sustainable, high-tech solutions for rolling, treatment, and green steel production.
What’s happening: the company has secured a deal for setting up a Push-Pull Picking Line and an Acid regeneration plant at Jamshedpur.
The deal covers supplying the machines, overseeing their installation, and making sure everything runs as promised. Once ready, the PPPL plant will be able to handle 3.5 lakh tonnes of production every year. It can process metal strips up to 1,350 mm wide and 3.8 mm thick, running at a maximum speed of 120 meters per minute.
Why it matters: this contract further solidifies John Cockerill India’s standing as a leading technology partner in the steel industry.
2. Ramky Infra bags ₹2,085 crore water project 💧
Ramky Infrastructure shares ended 2% higher on Friday after winning a ₹2,085 crore Hybrid Annuity Model (HAM) contract from the Hyderabad Metropolitan Water Supply and Sewerage Board.
The deets: the order, part of the Mallannasagar Water Supply scheme, covers Phase II and III of the Godavari Drinking Water project.
The goal here is to channel water into Osmansagar and Himayathsagar reservoirs to help rejuvenate the Musi River.
The Godavari Drinking Water Supply Project is one of Telangana’s flagship schemes to solve Hyderabad’s growing water crisis. The idea is simple: draw water from the Godavari River, which has surplus flow, and transport it over long distances to supply the city and nearby areas.
What else are we snackin’ 🍿
⚡ Green listing: RPSG Group may take its renewable energy arm public in the next 12–18 months, says Chairman Sanjiv Goenka.
🛒 Festive battle: India’s festive e-commerce battle kicked off at midnight with Amazon and Flipkart running full-blown “war rooms” in Bengaluru, tracking payments, deliveries, and inventory in real time. The season is set to clock ₹1.2 trillion in sales, up 27% from last year.
That’s a wrap! Don’t let the Monday blues get to you.
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