NewsletterDefense deals, Wakefit's IPO, and Largest hotel chain.
š Morning, folks!
Indian markets slipped on Wednesday as tariff tensions rattled investor sentiment. Sensex and Nifty closed 0.5% lower, dragged down by IT stocks.
But over on Wall Street, it was a historic comeback. Global stocks added over $5 trillion in value after Trump announced a 90-day pause on new tariffs for most countries. The S&P 500 jumped 9.5%, the Nasdaq surged 12%āits second-best day everāand the Dow added nearly 3,000 points.
Despite the pause, the White House confirmed the total tariff rate on Chinese goods now stands at 145%āthe highest in recent history.
š” Spotlight: back home, the RBI cut the repo rate by 25 basis points to 6.0% and shifted its stance to āaccommodative,ā signaling more cuts could be on the table.
That, and the fact that the US places India in a potential deal zone when it comes to tariffs, today could bring a strong rally.
Letās hit it!
1 Big Thing: Big balls defense deal āļø
India cleared a ā¹63,000 crore defence deal to acquire 26 Rafale-Marine fighter jets from France.
The deets: under this agreement, the Navy will receive 22 single-seater and 4 twin-seater Rafale-M jets from Dassault Aviation. The package includes five years of performance-based logistics, spares, and compatibility upgrades for the 36 Rafale jets already flying with the Indian Air Force.
The Rafale-Ms, tailored for aircraft carriers, will be deployed on INS VikrantāIndiaās first indigenously built aircraft carrier.
Whatās new: the jets will bring mid-air refuelling systems allowing up to 10 jets to refuel each other, along with ground support gear and upgraded software.
That means better tech sharing and operational synergy across services.
Why it matters: the deal ensures interoperability between Indiaās air and naval forces, especially in the Indo-Pacific, where maritime threats are evolving fast.
While weāre on dealsā¦
Indiaās NTPC and the International Solar Alliance (ISA) are joining hands with seven African nations to launch large-scale solar power projects.
Highlights
- a 30 MW floating solar plant in Mauritius
- 800 MW in Guinea
- 400 MW in Ethiopia
- 100 MW each in Malawi and Zambia
- Mali and Niger will also get 50 MW plants.
The projects aim to provide cleaner electricity, lower dependence on fossil fuels, and improve energy access across Africa.
NTPC will offer tech expertise, project support, and possibly financing, while most of the modules and systems will be sourced from India.
2. Accor and IndiGoās parent are building a hotel powerhouse š¤
French hotel giant Accor and IndiGoās parent InterGlobe Enterprises are planning to build Indiaās third-largest hospitality platform by 2030.
The deets: the duo, already joint venture partners in the ibis chain through InterGlobe Hotels, are expanding their 20-year partnership to pool assets, consolidate operations, and aggressively scale across India.
The deal involves creating a new integrated entity, combining Accorās India business and InterGlobeās hospitality assets.
The target: 300 hotels under Accorās brands by 2030āup from the current 71, with 40 more already in the pipeline.
Accorās portfolio in India includes premium and budget brands like Raffles, Fairmont, Novotel, Mercure, and ibis.
As part of the renewed partnership, the companies will also invest in budget hotel chain Treebo, becoming its largest shareholders. The final portfolio is expected to house 30,000 rooms.
Why it matters: this move gives Accor and InterGlobe a sharp edge in the midscale and budget segmentsāespecially at a time when Indiaās hotel sector is riding a strong upcycle. Domestic tourism is booming, and the rise of low-cost carriers like IndiGo is driving new demand in Tier-2 and Tier-3 cities.
Worth noting: the partnership also includes a loyalty playāIndiGoās BluChip and Accorās Live Limitless programmes will be integrated to offer shared rewards, co-branded experiences, and deeper customer engagement across both travel and hospitality.
Investors are going to love it. Indigo stock is already at all time highs.
3. Mahindra takes off š
Mahindra Aerostructures bagged an order from Airbus to build the main body of the H130 helicopter in India.
The deets: Mahindra Aerostructures makes parts for global aircraft makers and has been a trusted supplier to Airbus for years. This new order includes building the entire central frame of a helicopter.
The H130 fuselage is essentially the main body of the helicopter, the part that holds the cockpit, engine, and passengers. Itās a complex structure, and this is the first time Mahindra will fully manufacture and assemble it in India.
Why it matters: for Mahindra, this is a big leap as it moves the company up the value chain and cements its reputation as a serious player in advanced aerospace manufacturing.
Big picture: with $1.4 billion in annual procurement from the country, Airbusā ties with India reflect a broader trend of shifting high-value manufacturing to cost-efficient, skill-rich markets like India.
3. Stocks that kept us interested š
Garden Reach (GRSE) bagged an order worth ā¹490 crore from the Geological Survey of India to design, construct and deliver two coastal research vessels.
The company will build the vessels to support marine research and exploration.
The deets: Garden Reach Shipbuilders designs and builds warships, patrol vessels, and research ships for the Indian Navy and Coast Guard.
It also manufactures commercial vessels and offers engineering solutions for maritime infrastructure.
4. Quick IPO in focus š°
Home furniture and sleep solutions company Wakefit is gearing up for an IPO, looking to raise between ā¹1,500ā2,000 crore ($200ā240 million).
The company is expected to file draft papers in the coming months, per MoneyControl.
By the numbers: Wakefitās revenue from operations rose 21% to ā¹986.4 crore in FY24, up from ā¹812.6 crore the previous year. Losses were sharply reduced to ā¹15 crore in FY24ādown from ā¹145 crore in FY23.
The homegrown brand started with mattresses but now sells a full range of furniture including beds, tables, and sofas.
Quick nugget: Wakefit has raised over $100 million to date from investors like Peak XV, Paramark Ventures, and Verlinvest.
While we are on IPOs,
INOX Clean Energy is gearing up to file for a ā¹5,000 crore IPO via the confidential route in the coming weeks.
If successful, this would be Indiaās largest renewable energy listing yetāsignaling strong investor appetite for green infra.
5. Story in data: Suite moves š
Post demerger, ITC Hotels wasted no time charting its own course.
The new entity is positioning itself across the boardāfrom budget business stays to premium leisure escapes.
Its expansion comes as Indiaās hospitality sector rides a strong post-pandemic rebound.
What else are we snackinā šæ
š Listing glitter: jewellery brand Bluestone got SEBIās approval to launch its IPO.
š Steel Shake-Up: Tata Steel is slashing 1,600 jobs amid weak European demand and rising energy costs denting profits.
ā” Green energy: JSW Neo Energy, completed a ā¹12,468 crore acquisition of O2 Powerās 4.7 GW renewable energy capacity.
And thatās a wrap. Pour yourself an extra one this weekend.
Markets are closed on Monday for Dr.Baba Saheb Ambedkar Jayanti so weāll be back like clockwork on Tuesday. š¤
Hit that š if you liked this issue.
