Stocks in Focus: Tata Chemicals, RITES, Tata Steel, and Others - Analysis

Several companies are making headlines with new developments. Here's a summary of what's happening:

**Tata Steel:** To bolster its overseas operations, Tata Steel has invested ₹1,354.94 crore into its fully owned foreign subsidiary, T Steel Holdings Pte Ltd. This was accomplished through the purchase of 149 crore equity shares, each with a face value of $0.1008. Following this transaction, T Steel Holdings Pte Ltd will remain a wholly owned subsidiary.

**RITES Ltd:** The state-run engineering and consulting firm, RITES Ltd, has entered into a Memorandum of Understanding (MoU) with the government of Botswana. The aim is to provide support for the expansion and modernization of Botswana's railway and transport infrastructure. The agreement, signed in Gurugram, will see RITES offering its technical know-how for railway upgrades, including the supply of rolling stock, maintenance and operational assistance, and improvements to workshop facilities. The deal also covers broader development of the country's transport infrastructure.

**Tata Chemicals Ltd:** Expanding its portfolio, Tata Chemicals, through its wholly owned subsidiary Tata Chemicals International Pte Ltd, has inked a share purchase agreement to acquire Novabay Pte Ltd, a Singapore-based producer of high-grade sodium bicarbonate. The acquisition, which is contingent upon certain conditions being met, is anticipated to be finalized by March 2026.

**Granules India Ltd:** Granules Life Sciences Pvt. Ltd, a wholly owned subsidiary of Granules India Ltd, has successfully completed a US FDA (Food and Drug Administration) Good Manufacturing Practices (GMP) and prior approval inspection at its Hyderabad facility. The inspection, which took place from December 15th to 19th, resulted in five procedural observations. Importantly, the company clarified that none of these observations were related to data integrity or product safety.

**Indian Hotels Company Ltd:** A shift in structure is occurring at Indian Hotels Company Ltd (IHCL), the Tata Group's hospitality arm. Its joint venture with the GVK-Bhupal family in Taj GVK Hotels and Resorts will transition from a shareholding arrangement to a long-term management contract. As part of this change, IHCL will divest its entire 25.52% stake in Taj GVK to the GVK-Bhupal family. Upon completion of the transaction, the GVK-Bhupal family will continue as promoters, holding a 74.99% stake.

**Indraprastha Gas Ltd:** To advance the production of biofuels, Indraprastha Gas Ltd (IGL) has entered into a joint venture agreement with Hindustan Waste Treatment Pvt Ltd (HWT). The collaboration will focus on developing compressed biogas (CBG) plants and biofuel projects. The joint venture will be an equal partnership, with each company holding a 50% equity stake. The initial board will consist of four directors, with two representatives from each company.

**Allcargo Terminals Ltd:** In its operational update, Allcargo Terminals Ltd, a multimodal logistics operator, reported container freight station (CFS) volumes of 55.3 thousand TEUs for November 2025. This represents a 16% increase compared to November 2024, but an 8% decrease compared to October 2025.

**Sudeep Pharma:** Reporting its financial performance, Sudeep Pharma, based in Vadodara, saw its Q2 net profit decrease by 6.15% year-on-year to ₹45.8 crore. EBITDA (earnings before interest, taxes, depreciation, and amortization) also declined by 11.2% to ₹55.5 crore, leading to a significant narrowing of margins to 34.1%. That said, the reality is a bit more complicated. revenue experienced growth, rising 9.3% year-on-year to ₹162.7 crore.

**The Adani Group:** Looking to the future of energy, the Adani Group is considering entering the nuclear power generation sector. This follows the Indian government's decision to open the sector to private companies, a move designed to boost the country's supply of clean and reliable baseload energy. This policy shift could present considerable long-term opportunities for large infrastructure organizations with the capability to execute projects and raise capital.

**ICICI Prudential Asset Management:** Seeking to innovate, ICICI Prudential Asset Management has submitted draft documents to SEBI (Securities and Exchange Board of India) to launch a specialized investment fund. This proposed fund is designed to appeal to investors who are seeking sophisticated and differentiated investment strategies.

**Vedanta Resources:** Rating agency Fitch Ratings has revised its outlook for Vedanta Resources to positive. This change reflects the company's progress in reducing debt, improving its liquidity position, and demonstrating better earnings visibility. The rating action also indicates expectations of stronger cash flows and a gradual strengthening of the group's balance sheet.

**Maruti Suzuki:** Addressing regulatory concerns, Maruti Suzuki is planning to engage with the Prime Minister’s Office to discuss the proposed CAFE-III (Corporate Average Fuel Efficiency) fuel-efficiency norms. The company, along with other automakers, is concerned about the potential impact of stricter standards, arguing that they could increase vehicle costs and disproportionately affect the market for small and affordable cars.