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Sectors in Focus

Major Corporate Developments This Week

Orders & Business Wins

1. Dilip Buildcon – Selected as the successful bidder for the development of an LPG pipeline from Paradip, Odisha, to Raipur, Chhattisgarh, through a 100%-owned SPV. DBL will develop and operate the pipeline for 25 years after a 3-year construction period. The EPC opportunity is worth approximately ₹1,800 crore, to be executed over 36 months.
2. Power Mech Projects – Secured a ₹970 crore end-to-end operations and maintenance contract from Vedanta Power for its 2×600 MW coal-based thermal power plant at Sakti, Chhattisgarh.
3. Sical Logistics – Received a ₹534.73 crore, 5-year contract from Central Coalfields for overburden removal and coal extraction at the SDOC mine in Jharkhand. The contract includes heavy earth-moving machinery and coal production operations.
4. Time Technoplast – Won an ₹87.53 crore order from a public sector undertaking for Type IV composite CNG mobile storage cascades, to be executed within one year.
5. Texmaco Rail – Secured a USD 135 million order from Tsiko Africa Logistics and Barberry Holdings for the supply of Wabtec ES43ACi 4,500 HP diesel-electric locomotives. Execution period is 20–24 months, marking a significant international locomotive order beyond its traditional domestic freight wagon business.

Capacity Expansion & New Projects

1. Sterlite Technologies – Board approved approximately ₹3,000 crore of capacity expansion by FY29, covering optical fibre preforms, fibre, cables and pre-terminated connectivity products. The company also disclosed a USD 288 million long-term supply agreement with a large cloud and data-centre operator for CY27–CY29.
2. Gujarat Ambuja Exports – Announced a ₹333 crore investment to establish an 850 TPD greenfield corn wet milling plant at Hubli, Karnataka. The facility is expected to be commissioned by Q4 FY29 and will manufacture corn starch, sweeteners and feed ingredients.
3. TCS – Subsidiary HyperVault secured 264 acres in Hyderabad to develop an AI data-centre campus of up to 1 GW. HyperVault and its partners are expected to invest up to ₹70,000 crore, with TPG as a strategic partner. The project is designed for AI training and inference workloads.
4. Bondada Engineering – Won a 225 MW / 450 MWh battery energy storage project from AP Transco on a build-own-operate basis through a wholly owned subsidiary. The company has also applied to migrate from the SME platform to the main board and established PhotonicGrid Networks to develop and own fibre infrastructure for cloud, telecom and AI customers.
5. Fujiyama Power Systems – Commissioned a 1 GW solar cell plant at Dadri and approved a further 1.2 GW TOPCon cell plant at Ratlam, involving approximately ₹350 crore of investment. The expansion will increase its solar manufacturing capacity and strengthen its integrated renewable energy manufacturing platform.

Acquisitions, JVs & Strategic Alliances

1. AXISCADES Technologies – Agreed to acquire Cloud Wave Technologies at an enterprise value of approximately ₹260 crore. Cloud Wave operates seven manufacturing units serving aerospace, defence and semiconductor customers. The acquisition is being funded through a proposed ₹200 crore debenture issue at 12.50% interest.
2. Avalon Technologies – Signed a JV agreement with Europe-based Zollner Elektronik to establish an India-based electronics manufacturing and services platform. Zollner will hold 51% and Avalon 49%, with a potential future increase in Avalon's stake to 51%, subject to conditions.
3. Bharat Forge – Kalyani Strategic Systems signed a strategic alliance with Thales for local production of 70mm unguided and laser-guided rockets, including technology transfer. It also signed an MoU with FN Herstal to evaluate manufacturing and JV opportunities in India for small arms, integrated weapon systems and counter-drone products. These are strategic agreements, not confirmed orders.
4. Anupam Rasayan – Signed a six-year specialty chemical supply contract with a US-based specialty metal manufacturer, with dispatches expected from the second half of Q3 2027. Separately, the company is acquiring a 43.3%–48.2% stake in Bliss GVS Pharma, funded partly through ₹300 crore of new debt.
5. Asian Energy Services – Its holding company OEPL won a discovered small field block under OALP Round IV with a 50% interest as operator. The award remains subject to a revenue-sharing contract with the government and the proposed merger of OEPL into Asian Energy Services.

Other Significant Corporate Actions

1. India Glycols – Demerger took effect on September 1, creating three separately listed businesses: India Glycols (chemicals), IGL Spirits and Ennature Bio Pharma. The record date was September 2, with shareholders receiving one IGL Spirits share for every share held and one Ennature share for every three shares held.
2. Raymond – Board meeting scheduled to consider fundraising through equity shares, convertible securities, warrants or other eligible instruments. No issue size, price or purpose has been disclosed yet.
3. Patil Automation – Board meeting scheduled to consider raising funds through a preferential issue of equity shares, convertible warrants or other instruments. Issue size and utilisation details remain undisclosed.

TechnoFunda Investing Quote from Legends -

Warren Buffett’s quote, "Time is the friend of the wonderful business, the enemy of the mediocre," highlights the power of compounding and business quality over the long term. A wonderful business — one with strong fundamentals, competitive advantages, and consistent growth — becomes even more valuable as time passes, rewarding patient investors with expanding profits and wealth. On the other hand, a mediocre business struggles to grow or maintain its position, and over time, its weaknesses get exposed, often leading to stagnation or decline. In investing, time magnifies the gap between good and bad businesses.

The TechnoFunda Circle

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The Hidden Cost of Holding On – Why Knowing When to Exit is a Superpower in Investing

In investing, we often focus heavily on what to buy and when to buy.

But rarely do we spend enough time asking:

👉 "When should I let go?"

Holding onto a poor investment comes at a much higher cost than just the unrealized loss.

It silently eats away at your capital, your future returns, and your mental bandwidth.

Let’s understand why letting go — even when it's hard — is one of the most powerful decisions you can make as an investor.

🔎 The True Costs of Holding On Too Long

🔹 Opportunity Cost:

Money stuck in a stagnating or declining stock could have been invested in better opportunities.

Every day you hold a poor performer, you lose the chance to ride a stronger trend somewhere else.

🔹 Time Cost:

Compounding needs time.

The longer your capital is tied up in a non-performing asset, the more you delay the wealth-creation journey.

🔹 Mental Cost:

Dead stocks drain emotional energy.

Constantly worrying about “when it will recover” prevents you from thinking objectively and acting decisively elsewhere.

🔹 Anchoring Bias:

Holding onto a loser often comes from the mental trap of wanting to "get back to your buy price," instead of reassessing whether the business still deserves your trust and capital.

🔹 Lost Compounding Potential:

Imagine keeping ₹1 lakh stuck in a stock that returns 0% over 5 years, while another opportunity compounded at 15%.

The cost isn’t zero. It’s a loss of over ₹1 lakh in missed gains.

🛑 Common Reasons We Hold Onto Bad Investments

• “It’s just a paper loss. I haven’t really lost anything yet.”
• “It’s bound to recover someday.”
• “Selling now would mean admitting I was wrong.”
• “What if it bounces back after I sell?”

These emotions are real — but acting on them can be financially devastating.

📈 A Smarter Way to Think About It

✅ Always ask yourself:

“If I had cash instead of this stock today, would I buy it again?”

If the answer is no, it’s a strong signal that you should exit.

✅ Remember:

Selling a bad stock is not a failure.

It’s an active choice to protect and grow your future wealth.

✅ Good investors are not attached to their past decisions.

They focus on what will make them wealthier tomorrow, not on recovering yesterday’s mistakes.

💬 Key Takeaway

Investing isn't just about riding winners — it’s equally about cutting losers quickly.

Capital preservation and emotional discipline are the bedrock of long-term success.

“You don’t have to recover your losses from the same place you lost them.”

Letting go is not a weakness.

It’s the strength of thinking forward, not backward.

🚀 My Content For This Week 🎬 How to Find Multibagger Stocks at an Early Stage? | Ft. Vivek Mashrani​ ​ 📋 Twitter: Vivek Mashrani, CFA @MashraniVivek “You don't have to pee on an electric fence to learn not to do it” ― Charlie Munger You don't need to go through pain and losses. Here are 10 Hard-Hitting Lessons that Transformed my investing journey 🎯 11:27 AM • Dec 20, 2025 0 Retweets 4 Likes Read 1 replies ​ 📷 Instagram: A breakout can look perfect on the chart and still fail.​ 🔗 Linkedin: Investing isn’t about hitting every opportunity.​

🎙️ My Weekly Podcast For You

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Keep Compounding...

Vivek Mashrani, CFA Founder, TechnoFunda Investing

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