Why shares of Reliance, Yes Bank, RVNL, Texmaco, Reliance Infra and Lupin will remain in focus on Thursday

Reliance Industries said its step-down subsidiary Reliance Enterprise Intelligence has allotted shares worth ₹596.6 crore to Reliance Intelligence and shares worth ₹256.6 crore to Facebook Overseas. Post the allotment, Reliance Intelligence holds 70 per cent stake in Reliance Enterprises Intelligence (REIL) and the remaining 30 per cent is held by Facebook. With this transaction, REIL has ceased to be a step-down wholly owned subsidiary and has become a step-down subsidiary of RIL.

Yes Bank has disclosed that its internal investigation has revealed that fraudulent transactions aggregating about $0.28 million on its multi-currency prepaid forex card, which was issued in partnership with BookMyForex, were carried out on 15 merchants based in a Latin American country in the early hours of February 24 between 3:30 am and 8:30 am (IST)The aforementioned transactions were approved on behalf of 5,000 customers, the private-sector bank said in a statement. The Bank said its fraud monitoring system observed an unusual increase in transaction declines for a multi-currency prepaid forex card.

Railway stocks

Rail Vikas Nigam Ltd has received an LOA from National Mineral Development Corporation (NMDC) for “Construction of Residential Tower in Kirandul, Chhattisgarh.” The project cost is Rs. 284.52 crores (including all taxes).

Texmaco Rail & Engineering informed the exchanges that ECOR has awarded an order of Rs 2.13 crores for TRD works of NMDC Nagarnar steel plant, including NSL SSP. The entire work shall be completed within 11 months from the date of issue of the Letter of Acceptance.

Indian Railway Finance Corporation (IRFC) has signed a loan agreement with the consortium of Sumitomo Mitsui Banking Corporation, GIFT City Branch, and MUFG Bank Ltd, Gift Branch in New Delhi, for raising an External Commercial Borrowing loan of JPY equivalent to $400 million. This is the second ECB raised by IRFC during this FY, after it successfully raised JPY equivalent of $ 300 million in December 2025. Meanwhile, the Union Government said it will not exercise the oversubscription (green shoe) option in the Offer for Sale (OFS). The Centre is divesting a 2% equity stake in the company at a floor price of ₹104 per share. The OFS opened for non-retail investors on February 25 and will open for retail investors on February 26.

Infrastructure cos in focus

Reliance Infrastructure has announced that the Bombay High Court pronounced its judgment on February 24, partially upholding the arbitral award dated August 29, 2023 (corrected February 26, 2024) in favour of Mumbai Metro One Private Limited (MMOPL). MMOPL, where Reliance Infrastructure holds a 74% stake and Mumbai Metropolitan Region Development Authority (MMRDA) holds 26%, faced a Section 34 petition filed by MMRDA challenging the award. This follows Reliance Infrastructure’s earlier disclosure on July 29, 2025.

Highway Infrastructure has received a Letter of Acceptance (LOA) valued at ₹15.64 crore from the National Highways Authority of India (NHAI) for operations at Katiyara Fee Plaza in Bihar. The engagement covers the operation and user fee collection at the Katiyara Fee Plaza, located at Km 77+821, Village Katiyara, District Rohtas. This forms part of the four-laning project of the Pararia-Mohania section of NH-319 (old NH-30) from Km 54+530 to Km 115+330 (Design Chainage). The domestic contract spans 90 days from commencement. Watch out for these Pharma players.

Lupin has informed the exchanges that the Maharashtra GST Department has initiated an inspection and search at its office. The company said it is cooperating with authorities and that the proceedings have no impact on its financials or operations. The inspection pertains to documents related to GST payments and input tax credit claims.

Zydus Lifesciences, in a disclosure to the exchanges, said that it has received DCGI approval to manufacture and market semaglutide injections for Type 2 diabetes and obesity, and plans to launch them under three brands—Semaglyn, Mashema and Altermet —featuring an indigenously developed adjustable, reusable single-pen delivery system.

Shaily Engineering Plastics has secured a ₹423-crore manufacturing and commercial supply agreement from a large domestic pharmaceutical company for pen injectors, according to an exchange filing. The four-year contract has been awarded by a domestic entity, with the customer’s name withheld due to confidentiality reasons.

Power, Recycling stocks

ACME Solar Holdings Ltd, through its subsidiary, i.e. ACME Suryodaya Private Limited, has commissioned the first phase of 19 MW/38 MWh out of the 285 MW/600 MWh capacity of the Battery Energy Storage System (BESS) Project located at Village: Sanwara and Mehar Nagar, Tehsil-Pokhran, Dist: Jaisalmer, Rajasthan. This project will currently be deployed as a merchant capacity while ASHL retains the flexibility to shift to a long-term PPA in future.

Saatvik Green Energy Ltd has received and accepted an order aggregating to Rs 87.10 crore from one renowned Independent Power producer/EPC Player for the supply of solar PV modules.

Expansion plans of these firms

Gravita India Ltd has increased the capacity of its existing recycling unit at Mundra, Gujarat (the “Facility”). The existing capacity of said unit for Lead recycling has been increased by 80,300 MTPA, and as of date, after the expansion, the total capacity of this unit for Lead recycling will be 1,45,100 MTPA. The company has invested Rs 49 crore in the procurement and commissioning of the said recycling plant, funded from the company’s internal accruals.

Scoda Tubes has disclosed plans for a significant capacity addition in welded tubes & pipes production at its Mehsana unit, Gujarat. The company currently maintains an existing capacity of 1,020 MTPA for welded tubes & pipes, excluding expansions outlined in its May 30, 2025, prospectus. Capacity utilisation reached approximately 105 MTP from April to December 2025, reflecting strong operational demand. The new initiative adds 8,000 MTPA, substantially scaling production capabilities. Completion targets the end of Q3 FY 2026-27. Total investment amounts to ₹400 million (including taxes), funded through internal accruals and bank term loans.

HCP Plastene Bulkpack Ltd has started commercial operations at its new manufacturing unit in Vadodara, Gujarat. The facility specialises in the manufacturing and dispatch of Flexible Intermediate Bulk Containers (FIBCs) made from woven polypropylene (PP) fabric, available with or without a polyethene (PE) liner. Commercial production began on February 25, 2026. The unit boasts an installed capacity of 300 metric tons (MT) per month. The total investment in the facility is approximately Rs. 3.00 crores, entirely funded by internal accruals.

NBFCs

The board of Tata Capital Housing Finance Ltd, wholly owned subsidiary of Tata Capital Ltd, has approved a rights issue for ₹650.02 crore to its parent. The issue, comprising shares of ₹10 each, will be undertaken in one or more tranches, the company said.

The board of Enbee Trade and Finance Ltd has finalised terms for a rights issue. It will issue 120.05 crore fully paid-up equity shares aggregating approximately ₹120.05 crore, following BSE in-principle approval. Issue Price: Re. 1 per share (full amount payable on application); Rights Ratio: 21 Rights Equity Shares for every 10 fully paid-up equity shares held on record date; and Record Date: Wednesday, March 4, 2026.

Fraud detection

RBZ Jewellers has provided an update on the employee fraud case previously disclosed on March 4, 2025, and February 24, 2026, confirming full insurance coverage for the Rs. 1,98,11,486 claim amount under its fidelity/crime policy with IFFCO-Tokio General Insurance Co. Ltd. The company recovered Rs. 22,74,893 directly from the accused employee. IFFCO-Tokio disbursed Rs. 1,01,82,444 as partial settlement, leaving Rs. 68,18,221 tied to gold currently held in judicial custody.

Published on February 26, 2026