The Fertilisers And Chemicals Travancore Ltd. Share Price

MANOJ VAIBHAV GEMS 'N' JEWELLERS FUNDAMENTAL RESEARCH REPORT

Manoj Vaibhav Gems ’N’ Jewellers (NSE: MVGJL, BSE: 543995), Visakhapatnam, sells gold jewellery under the “VaibhavJewellers” brand from 21 showrooms (20 company-owned, 1 franchise; 18 in Andhra Pradesh, 3 in Telangana). About 95% ofrevenue comes from one state and more than 90% from gold (ICRA, 10-Jul-2026). Mainboard listing, IPO Sep/Oct-2023 at Rs215. Not an F&O stock, so it is in lane for a positional view; owner target horizon 2-3 years (page 8). Shares ~4.885 Cr; mcap~Rs 1,178 Cr; CMP Rs 241.15 (19-Oct-2026 NSE close). Event 1 - cheap, and cheap for a reason. 9.8x trailing earnings, 1.41x book, EV/Sales ~0.57, against a Screener peer medianP/E of 22.0 (Lalithaa 21.0x, Kalyan 38.9x). FY26 revenue Rs 2,744 Cr (+15%), PAT Rs 115 Cr. FACT: ex the low-margin gold-exchange (refi ning pass-through) line, revenue grew only ~3.5%, and gold jewellery volume fell ~19% (ICRA).

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ZEN TECH TO ACQUIRE STAKE IN DEFENCE FIRM COGKNIT SEMANTICS

Defence player

will be making an investment of Rs 135.15 crore to acquire a 51.98% stake in Bengaluru-based defense tech firm Cogknit Semantics. The transaction combines primary funding subscription and secondary share purchases to integrate advanced battlefield software into its portfolio. Cogknit Semantics is an iDEX challenge winner for Main Battle Tank Battlefield Management Systems. Cogknit will now become a subsidiary of Zen Technologies while its founding team continues operational leadership. The acquisition integrates tactical software command layers with Zen's existing training simulators, anti-drone systems, and autonomous platforms. In fact Zen Technologies' strategic expansion into tactical command software deepens its technological moat, strengthening its position across integrated defense equipment tenders.

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Understanding Management Changes in Public Sector Companies

Fertilisers and Chemicals Travancore Ltd.

is a public-sector company operating in the fertiliser and chemicals industry. The NSE corporate-announcement list recorded a change-in-management disclosure for FACT on 1 October 2026. Management changes in public-sector enterprises can be relevant to investors because they may coincide with changes in operational priorities, project execution and business strategy. Investors studying FACT should monitor fertiliser demand, government subsidy payments, raw-material prices, production capacity utilisation, working capital and the company's financial results. The management announcement should be considered alongside these operating and financial indicators. Learning point: Changes in management are corporate events; their financial significance must be evaluated through subsequent business performance and official disclosures.

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COCHIN SHIPYARD GETS INTERNATIONAL ORDERS TO BUILD 40 SHIPS

State-owned shipbuilding company

has received orders from the US, Germany, Norway and other countries to build over 40 ships. In fact some Russian entities have also shown interest in building ships in India in collaboration with Indian shipyards. This reflects how India could generate confidence about its quality production and capacity building. The company estimates its shipbuilding margins to stand between 10% and 12%, and its ship repair margins to remain between 22% and 24% in FY27. Sales have grown by 23% CAGR over the last 3 years, and profits have seen a growth of 31% CAGR in last 3 years. With new international order wins, the company's sales and profit growth is expected to increase in the coming years.

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TCS Q2 Results: Net profit rises 15% to ₹13,884 crore

TCS Q2 Results: Net profit rises 15% to ₹13,884 crore, beats estimates SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826

Tata Consultancy Services (TCS) net profit grew 14.9 per cent to ₹13,884 crore while revenue grew 11 per cent to ₹73,188 crore, trumping brokerage expectations for the September-ending quarter of 2026-27. The company beat the Street estimates of rupee revenue estimates are largely around the ₹73,000 crore mark and net profit of close to ₹13,700 crore. Net profit grew 4 per cent and revenue grew 1.26 per cent on a quarterly basis. Annualised AI revenue run-rate stood at $3.1 billion, a sequential increase of 19 per cent. “This quarter we announced two unique deals with Porsche and Best Buy which represent a new category of transformation partnerships. Together with our clients, we are building repeatable value platforms that will industrialise AI at scale,” said K Krithivasan, Chief Executive Officer and Managing Director. Total contract value (TCV) was reported at $9.6 billion, marginally higher than the last quarter but within brokerage expectations. Operating margin remained at 24 per cent, bucking estimates of healthy margin growth. The Board of Directors also declared a second interim dividend of ₹12 per Equity Share of ₹1 each of TCS. AI-led growth Despite beating the Street, one analyst on anonymity said revenue actually declined on a non-AI basis. Other income also helped keep the profit growth positive. Meanwhile, the BSNL deal and pricing deflation kept the Indian market volatile and the margin flattish. “Overall results are largely in-line with our expectations. However notable fact is q-o-q improvement in growth in international. Annualised AI revenue, crosses 10 per cent of sales. Q2 TCV deals are decent, especially on a sequential basis,” said Sandeep Shah, Director Equity Research at Equirus Securities. All this is for information This is not a buy/sell recommendation.

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Om Power Transmission wins two GETCO orders

Om Power Transmission Limited

won two turnkey orders from Gujarat Energy Transmission Corporation Limited (GETCO) worth ₹129.66 crore combined. That is about 23% of its ₹567.47 crore order book at 30 June 2026. What happened: The first order is the 220kV D/C Prantij-Jantral Line Package 2, worth ₹69.18 crore including GST, with 24 months to execute from the Letter of Award. The second is a letter of intent dated 6 October 2026 for the 220kV Kotda-Sanghani AIS substation, worth ₹60.48 crore, with an 18-month timeline. Why it matters: Q1 FY27 revenue was ₹121.63 crore, up 37% YoY, with net profit of ₹10.52 crore, up 26%. Spread over 18 to 24 months, the two orders add about ₹75 crore of revenue a year. Against a Q1 run rate of about ₹487 crore a year, that is roughly 15%. It is a solid top-up, not a step change. My view: Order inflow is the main driver for an EPC company, and repeat wins from one utility show it converts bids well. But that same fact is the risk. The order book leans on GETCO and on Gujarat. A delay in payments or land access (Right of Way) hits all of it at once. Margins also depend on metal prices, mainly steel, copper and aluminium. I do not know whether these packages have price variation clauses, so I cannot say how exposed they are. The ₹129.66 crore also mixes a GST-inclusive figure with one whose basis is not stated, so the true share of the order book is likely a bit lower. What I am watching: The order book as of 30 September 2026 in Q2 results, and Right of Way progress on the Prantij-Jantral line. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.

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