Tata Chemicals reports a mixed Q2 FY26 with standalone revenue up 19% and EBITDA up 67%. Consolidated revenue dips slightly by 3% due to Lostock UK reconfiguration. The company is addressing margin pressures, particularly in China’s soda ash market, and focusing on maximizing volume, customer service, and cost control. Looking ahead, Tata Chemicals anticipates improved performance driven by capacity additions and resolution of geopolitical and tariff uncertainties.

Financial Performance Overview

Tata Chemicals’ standalone performance shows positive growth in Q2 FY26. Revenue from operations increased by 19%, with EBITDA rising by 67% to ₹240 crores, and profit after tax up 80% to ₹178 crores. However, consolidated revenue saw a slight decrease of 3%, amounting to ₹3,877 crores, primarily due to the reconfiguration of operations in Lostock, UK.

Key Operational Highlights

The company is navigating a challenging soda ash market with oversupply and high inventory levels, especially in China. Prices have declined approximately 56%-58% between Q2FY23 and Q2FY26. Tata Chemicals is addressing these pressures by focusing on cost management and operational efficiency. A one-time provisioning of ₹65 crores has been made in the UK due to contractual obligations after the cessation of Lostock operations.

In the US, a one-time reduction in work-in-progress led to under-absorption of fixed costs by about $5 million. India’s performance exceeded the previous year due to higher volumes and operational efficiency. The company expects the UK operations to turn positive in the 3rd quarter of FY26 and continue improving into the 4th quarter.

Strategic Focus and Outlook

Tata Chemicals remains focused on maximizing volume, improving customer service, and controlling costs. The company is working to build upon the restructured UK operation and closely monitoring exports from the US to maintain positive margins. Capacity expansion plans, including the potential addition of 500,000 tonnes of soda ash in India, are under consideration.

The company anticipates that the soda ash pricing is likely to remain subdued for the rest of the year due to persistent oversupply situations. Overall, the company is working towards navigating current market challenges and positioning itself for long-term growth through strategic investments and operational improvements.

Anti-Dumping Duty

An anti-dumping duty recommendation has been submitted, and if applied, the pricing gap could be around $17-$100 per tonne.

Capacity Addition in China

The Chinese government aims for a 50:50 split between natural and synthetic soda ash capacity, potentially adding another 5-6 million tonnes of natural capacity, and this may happen by 2029-30.

Source: BSE

Suzlon Energy announced that the Commissioner of Customs has reduced the redemption fine and penalty initially levied on the company from Rs.428.50 Lacs to Rs.215.86 Lacs. The fine and penalty relate to a matter previously reported to the stock exchanges. While the company welcomes the reduction, it intends to file an appeal against the order with appropriate authorities. The announcement was made on November 11, 2025.

Customs Fine Reduction

Suzlon Energy has received a favorable revision in its previously assessed fine and penalty from the Commissioner of Customs. The initial levy of Rs.428.50 Lacs has been reduced to Rs.215.86 Lacs following a reassessment by the authorities.

Details of the Order

The Order-In-Original No.253/2025-26/COMMR/NS-V/CAC/JNCH, dated October 31, 2025, reflects the reassessment. It specifies a reduced redemption fine of Rs.50,00,000 and a penalty of Rs.1,65,83,745, along with applicable interest, totaling Rs.2,15,83,745. The original order, No.84/2024-25/Commr/NS-V/CAC/JNCH, issued on July 5, 2024, had imposed the initial amount of Rs.4,28,50,048.

Next Steps for Suzlon

Despite the reduction, Suzlon Energy intends to pursue an appeal against the order with the appropriate authorities, indicating a continued effort to contest the remaining charges. The company received the order on November 10, 2025.

Background of the Matter

The issue relates to alleged non-payment of Countervailing Duty and Anti-Dumping Duty on casting parts imported from China, as per Notifications No.1/2016-Customs (CVD) dated January 19, 2016, and No.42/2017-Cus (ADD) dated August 30, 2017. The company believes an appeal is warranted despite this reduction, and does not anticipate a significant impact on financial operations.

Source: BSE

IDFC FIRST Bank has announced the schedule for upcoming meetings with analysts and institutional investors. These meetings will occur between November 17, 2025, and November 21, 2025, at various locations, including Mumbai and Dubai. The bank intends to share an investor presentation that is already available on its website. This outreach is part of the bank’s regular investor relations program.

Upcoming Investor Engagements

IDFC FIRST Bank has scheduled a series of meetings with analysts and institutional investors. These investor conferences will provide an opportunity for stakeholders to engage with the bank’s leadership and gain insights into its strategy and performance.

Meeting Schedule

The meetings are scheduled as follows:

November 17, 2025: Investor Conference with UBS India Summit in Mumbai.

November 18, 2025: Investor Conference with Investec India CEO Conference 2025 in Dubai, United Arab Emirates.

November 20, 2025: Investor Conference with Kotak Institutional Equities – Midcap Conference 2025 in Mumbai.

November 21, 2025: Investor Conference with JM Financial India Conference 2025 in Mumbai.

Investor Presentation

IDFC FIRST Bank will use the investor presentation for Q2-FY26 during these meetings. This presentation is already available on the company’s website for interested parties.

Source: BSE

Tata Consultancy Services (TCS) has partnered with SINTEF, a leading European research foundation, to deploy Artificial Intelligence (AI) for improving elderly care. The collaboration focuses on SINTEF’s SMILE platform, enhancing it with Social AI to personalize care and support independent living for seniors. This initiative aims to improve the quality of life for the elderly in Norway, enabling them to stay healthy and connected in their homes longer.

AI-Driven Elderly Care Initiative

Tata Consultancy Services (TCS) has announced a strategic partnership with SINTEF, a prominent research and development organization in Europe, to leverage Artificial Intelligence (AI) and digital solutions for enhancing elderly care. The collaboration will build on SINTEF’s existing eHealth initiative, SMILE (Smart Inclusive Living Environments), to create scalable and real-world innovations.

SMILE Platform Enhancement

The partnership aims to enhance the SMILE platform, designed to support senior citizens in living independently and safely at home. By integrating Social AI, the platform will be able to understand individual needs better and personalize care. This includes improving communication, providing reminders, and facilitating access to health services, ultimately fostering active living and social engagement for the elderly.

Collaborative Innovation and Impact

The collaboration seeks to combine TCS’s expertise in deploying AI and digital solutions with SINTEF’s research capabilities to address societal challenges, starting with elderly healthcare. The initiative also aims to explore opportunities in energy, mobility, and smart and secure communities. According to Sapthagiri Chapalapalli, Head of Europe at Tata Consultancy Services, the partnership will turn ideas into action by identifying specific and practical AI use cases focusing on usability and a human-centric approach.

Strategic Importance for TCS

This partnership is part of TCS’s broader strategy to collaborate with external partners, startups, and academia to generate impactful ideas and address real-world challenges. TCS has been operating in the Nordic region since 1991 and has consistently been ranked as one of the best IT consulting service providers in the region.

Source: BSE

HCLTech has achieved the Microsoft Copilot Specialization, becoming one of the first Global System Integrators to earn this recognition. This highlights HCLTech’s capabilities in deploying Microsoft 365 Copilot, Copilot Chat, and Copilot Studio. HCLTech now holds 23 Microsoft specializations, enhancing its delivery across Microsoft products, and helping global biopharma companies save over three hours per user weekly through automation.

Microsoft Copilot Achievement

HCLTech announced today, November 11, 2025, that it has achieved the Microsoft Copilot Specialization. HCLTech is among the first Global System Integrators (GSIs) to receive this specialization.

Specialization Details

The Microsoft Copilot Specialization underscores HCLTech’s capabilities in deploying Microsoft 365 Copilot, Copilot Chat, Copilot Studio and agentic extensibility. The company now possesses 23 Microsoft specializations.

Client Impact

HCLTech’s work in this area has enabled a global biopharma company to scale AI adoption, increasing engagement among 5,000+ M365 Copilot users. This resulted in a savings of over three hours per user weekly due to targeted training and automation. For a global digital payments leader, HCLTech’s AI-powered Claims Processing Agent increased processing capacity by 50% and accelerated reimbursements for 7,000+ employees through integrating Copilot Studio, Azure Open AI and Azure AI services with ServiceNow and Workday.

Executive Perspectives

Ajit Moodliar, SVP and Global Head of the Microsoft Ecosystem Unit at HCLTech, emphasized the alignment with Microsoft and the delivery of measurable business value through secure and scalable AI solutions.

Stephen Boyle, Vice President, Global SI & Advisory at Microsoft, noted that HCLTech’s achievement reinforces their deep expertise and commitment to delivering transformative AI Business solutions and unlocking the potential of Microsoft Copilot.

Source: BSE

Bosch Limited reported its Q2 FY25-26 results, highlighting a synchronized upturn in the Indian automotive sector. This growth was spurred by festive momentum, policy support, and increased consumer confidence. Mobility solutions drove sales growth with an increase of 11.9%. The company remains focused on innovation and strategic initiatives, including cordless technology and expanding its product portfolio.

Production and Market Overview

The Indian automotive sector experienced a synchronized upturn in Q2 FY25-26, fueled by festive momentum and supportive government policies. This revival in consumer confidence has positively impacted Bosch Limited’s production and sales across various segments.

Financial Performance

Bosch Limited’s mobility business has grown by 11.9%, driven primarily by the following:

• Power Solutions: Increased by 9.5%
• Mobility Aftermarket: Increased by 3.7%
• 2-Wheeler segment: Increased significantly by 81.8%

The Consumer Goods segment also saw growth, with an increase of 1.8%.

Revenue and Profitability

Revenue from operations increased by 9.1% compared to the previous quarter. This growth is attributable to Power Solutions, the Mobility Aftermarket, and a strong performance from the 2-Wheeler segment. EBITDA grew by 10.1% quarter-over-quarter, supported by favorable product mix and optimized expenses. Profit After Tax (PAT) also increased by 3.4% compared to the previous quarter.

Strategic Focus

Key areas of focus for Bosch Limited include:

• Filters, Braking Systems, Wipers & Automotive parts
• Innovation in Sensorless Quickshift technology for Two-Wheelers
• Strategic Cordless 2.0 initiatives to accelerate the adoption of cordless technology

Market Prognosis

Bosch anticipates continued growth with measured increases forecast for the next financial year.

Source: BSE

ICRA has assigned an ‘ICRA AA-/Stable’ rating to the Rs 990 crore long-term bank facilities of ACME Dhaulpur Powertech Private Limited (ADPPL), a subsidiary of ACME Solar. This rating applies to their 300 MW solar power project in Jaisalmer, Rajasthan. The rating is expected to reduce borrowing costs. The plant has been operational since January 2025, achieving a capacity utilization factor (CUF) of 29.05% since commissioning.

ICRA Rating Justification

The ‘ICRA AA-/Stable’ rating assigned by ICRA to ACME Solar’s project is underpinned by several factors, including an experienced sponsor, predictable revenue streams, strong debt coverage metrics, timely payments, and a strong counterparty. The rating reflects ADPPL’s robust operational performance, supported by a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI).

Financial Impact

The rating of ‘ICRA AA-/Stable’ for the Rs 990 crore term loan facility is expected to contribute to a reduction in the cost of borrowings for the project, as per the agreed terms with lenders. This marks the second ‘AA-‘ rating received for the project, adding to the previous rating from CRISIL. The financial arrangement pertains to a 300 MW ISTS solar power project located in Jaisalmer, Rajasthan.

Operational Highlights

The solar power plant has been operational since January 2025 and has achieved a capacity utilization factor (CUF) of 29.05% since it began operations. ICRA anticipates that the competitive project costs, reduced borrowing expenses, and satisfactory generation performance will contribute to robust debt coverage metrics for the project. The stable outlook reflects the steady cash flow predictability from the long-term PPA, satisfactory generation levels, and timely collections from the offtaker.

About ACME Solar

ACME Solar Holdings is a leading integrated renewable energy company with a diversified portfolio including solar, wind, storage, FDRE, and hybrid solutions. The company has an operational capacity of 2,918 MW and a construction capacity of 4,472 MW including 13.5 GWh of BESS installation. With in-house EPC and O&M divisions, ACME Solar manages end-to-end project development, ensuring cost-effective solutions and industry-leading CUF and operating margins.

Source: BSE