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Shares of Inox Wind gained nearly 2% on Thursday to day’s high of Rs 72.17 on the NSE after the company bagged a 100 MW turnkey order from Indian Oil Corporation worth Rs 755 crore.

According to a filing with the exchange on Thursday, the company said that it has secured a 100 MW turnkey order from India’s largest oil marketing company. This order includes post-commissioning operations and maintenance (O&M) services for a period of 10 years.

Also Read | Power Grid shares gain 1.5% after firm wins Rs 3,244 crore inter-state transmission system project. Should you buy?

“We are pleased to have secured this 100 MW turnkey order from Indian Oil Corporation Limited, a Maharatna company and India’s largest oil marketing company. This repeat order is a testament to the confidence that leading institutional customers place in our integrated capabilities and execution track record,” said Kailash Tarachandani, Group CEO, Renewables business, INOXGFL Group.

“With our ability to deliver comprehensive solutions across the wind project lifecycle, we remain well positioned to support customers in their transition towards cleaner sources of energy,” Tarachandani said.

The company further said that under this order it will be responsible for the end-to-end execution of the project, including the supply of wind turbine generators, engineering, procurement & construction (EPC), project execution and post-commissioning O&M services.
The order strengthens Inox Wind’s diversified customer portfolio, which spans commercial & industrial (C&I) customers, public sector undertakings (PSUs) and independent power producers (IPPs).This order further reinforces the company’s position as an integrated wind energy solutions provider with capabilities spanning the entire project lifecycle, from turbine supply and project development to EPC and long-term O&M.

“India’s renewable energy transition is creating significant opportunities for wind power, with large enterprises and public sector organisations increasingly looking for reliable partners who can deliver projects with efficiency and accountability. We are committed to leveraging our technology, manufacturing and execution capabilities to deliver high quality projects while contributing meaningfully to India’s clean energy ambitions,” Tarachandani further said.

In the last one month, the stock was down 9.89% whereas it was dow 42% in 2026 so far. In the last three years, the stock went up 39.41% and 156% in the last five years.

Also Read | Persistent Systems shares fall over 3% as board gives nod for $1.25 billion fundraise. Check details

Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, PSUs, Corporate investors and retail. It offers end-to-end wind energy solutions from concept to commissioning to O&M, manufacturing key components of WTGs, using the most advanced technology, in-house, to maintain high quality, reliability and cost competitiveness.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Download this episode on Apple Podcasts/Spotify or listen below:

An earnings beat wasn’t enough to stop Broadcom (AVGO) from slipping. (00:14) The mystery of $7 ground beef has the DOJ’s attention. (01:36) Chipotle (CMG) is taking its burritos to Asia. (02:32)

This is an abridged transcript.

Broadcom (AVGO) is down 2.1% in premarket action after offering weaker-than-expected guidance that overshadowed its third-quarter results.

For the period ending Aug. 2, Broadcom said it earned an adjusted $3.32 per share as revenue soared 86% year-over-year to $29.59B.

Analysts had expected the company to earn an adjusted $3.23 per share on $29.45B in revenue.

Looking ahead, Broadcom said it expects fourth-quarter revenue to be approximately $34.8B, with adjusted EBITDA around 66%. Analysts had expected $35.1B in fourth-quarter sales, according to Bloomberg.

“Demand for our custom AI accelerators and networking continues to be very strong. Q3 AI semiconductor revenue of $16.7 billion grew 221% year-over-year, and 54% quarter-over-quarter,” said CEO Hock Tan in a statement. “In Q4 the momentum continues, and we expect AI semiconductor revenue to accelerate to $21.7 billion, up 236% year-over-year.”

Here’s a link to the transcript of the earnings call.

The U.S. Justice Department has widened its investigation into the meatpacking industry, requesting information from eight major grocery retailers as beef prices remain close to record levels.

The department said this week that Associate Attorney General Stanley Woodward sent letters last month to Amazon.com (AMZN), Costco Wholesale (COST), Walmart (WMT), Albertsons, Kroger (KR), Ahold Delhaize’s (ADRNY) U.S. business, Publix, and Aldi.

The requests cover six years of data on how the retailers buy beef, their purchasing strategies, retail prices, profit margins, and assessments of the market, according to the department.

The inquiry is part of a broader examination announced by the Justice Department in May into possible antitrust violations in the meatpacking sector.

Ground beef sold for an average of $7.116 per pound in July, according to the U.S. Bureau of Labor Statistics, remaining near its record despite a modest easing.

Chipotle Mexican Grill (CMG) announced the opening of its first restaurant in Asia. The new location is in Seoul, South Korea.

Chipotle (CMG) noted that South Korea was selected because it is seen as having highly engaged and discerning consumers, a sophisticated restaurant culture, and strong appreciation for authenticity and ingredient quality.

Chipotle plans to continue its expansion with two more locations in South Korea by the end of 2026, followed by its first restaurant in Singapore in 2027.

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• Tesla (TSLA) will hold an invite-only Cybercab launch event in Austin, Texas. The Cybercab is the company’s purpose-built robotaxi that does not have a steering wheel or pedals. Reports indicate riders may be able to request the Cybercab through Tesla’s existing Robotaxi app in Austin.

• Match Group (MTCH) will hold an investor event hosted by CEO Spencer Rascoff to discuss the Tinder business.

Stock index futures are in mixed territory.

Crude oil is up 0.6% at $91. Brent crude is up 0.4% at $96.

The FTSE 100 is down 0.1% and the DAX is down 0.2%.

One stock on the biggest movers list: Snowflake (SNOW) +24% – Shares surged after the data warehousing company reported a strong fiscal Q2 and issued an upbeat outlook, with product revenue rising 37% Y/Y to $1.49B.

Economic calendar:

BUENOS AIRES — Every football match across Argentina this weekend will be paused in the 10th minute of the first half for a minute of applause, a nationwide tribute organized by the Argentine Football Association to honor Lionel Messi following his retirement from international duty.

Messi announced the end of his national team career Monday in a handwritten note posted to Instagram, confirming that his final appearance for Argentina came in the 2026 World Cup final loss to Spain. He retires from international soccer at age 39.

The Argentine Football Association, known by its Spanish acronym AFA, said in an official statement Wednesday evening that matches across all men’s and women’s divisions and disciplines, including 11-a-side football, futsal and beach soccer, will be halted at exactly the 10th minute of the first half on the next full matchday. The timing is a direct nod to the number 10 jersey Messi wore throughout his 21-year international career.

“It is decreed that in the next matchday of all categories of all men’s and women’s disciplines, the match will be stopped at the tenth minute of the first half and one minute of applause will be given in recognition of Lionel Messi’s career with the Argentina national team,” the AFA bulletin read.

Beyond the synchronized applause, the AFA has instructed stadiums equipped with video screens to broadcast an official farewell video ahead of kickoff, running nearly two minutes and featuring highlights spanning different stages of Messi’s international career. The video’s closing message thanks Messi directly for his contribution to the sport in Argentina.

“Thank you for uniting an entire country behind this crest. We are going to miss you,” the farewell video’s message reads, according to details of the tribute shared by the AFA.

The tribute has already begun unfolding in Argentine football ahead of the formal weekend rollout. During a domestic cup match between Boca Juniors and Velez Sarsfield at Mario Alberto Kempes Stadium, supporters in attendance stood and applauded in honor of Messi when play reached the 10th minute, offering an early preview of the nationwide gesture planned for the coming matchday.

Messi’s international career, spanning 21 years since his senior debut in 2005, produced 207 appearances, 125 goals and 68 assists for Argentina, making him the country’s all-time leading scorer. Over that span, he led Argentina to the 2022 World Cup title in Qatar, back-to-back Copa America championships in 2021 and 2024, the 2022 Finalissima, a gold medal at the 2008 Beijing Olympics, and the 2005 Under-20 World Cup. Messi also played in six World Cups over the course of his career, a rare mark of longevity at the tournament’s highest level.

AFA President Claudio Tapia offered an emotional personal tribute to Messi following the retirement announcement, describing him in deeply reverential terms tied to his rise from a young prospect to the national team’s most decorated player.

“The captain of our dreams,” Tapia wrote of Messi in a message posted to Instagram. “That kid, that ‘Pulga,’ that extraterrestrial who made possible what so often seemed impossible. What more could be asked of you, Leo? Perhaps just one thing: that you be eternal. Because Argentines don’t measure things in years; we measure them in eternities. And you are already part of ours.”

Tapia continued by reflecting on Messi’s broader impact beyond his on-field accomplishments, emphasizing his character and leadership within the national team setup over the years.

“Everything that could be said about your football has already been said — and yet, it is never enough,” Tapia wrote. “That is why today I prefer to speak of the person. The teammate. The leader. The professional. The friend. The guy who was always there — in the good times and, even more so, in the bad. The one who endured injustices, picked himself up time and again, and never stopped choosing the same jersey.”

Current Argentina teammates also shared personal tributes reflecting on their time playing alongside Messi. Midfielder Enzo Fernandez expressed sadness at the prospect of entering future national team camps without Messi as a teammate.

“How lucky I was, Leo… thank you for treating me the way you did, for everything you taught me and for letting me be part of your story,” Fernandez wrote. “We’re going to miss you so much, captain.”

Forward Lautaro Martinez focused on the lessons Messi imparted beyond his statistical accomplishments on the field.

“Beyond everything you achieved on the pitch, what stays with me is everything you taught us off it: never to give up, to keep trying after every setback, to work quietly and, above all, to always believe in ourselves,” Martinez wrote.

Longtime midfield partner Rodrigo De Paul offered a simple but direct assessment of Messi’s standing in the sport.

“The greatest of all time,” De Paul wrote, adding a message of gratitude for the years the two spent together representing their country. “Thank you for making us so, so happy.”

Argentina President Javier Milei also weighed in publicly on Messi’s retirement, describing his departure from the national team as a significant loss for the country. Milei’s comments added a political dimension to the widespread national mourning over the end of Messi’s international career, reflecting the outsized cultural role Messi has occupied in Argentine society well beyond the world of sports.

Messi’s retirement has also reignited a longstanding request among some Argentina supporters to permanently retire the No. 10 jersey across the national team in his honor. Argentina previously attempted a similar gesture ahead of the 2002 World Cup to honor the legacy of Diego Maradona, another iconic No. 10 for the national team, but FIFA rejected that request on regulatory grounds at the time, and the number has continued to be issued to subsequent generations of Argentine players in the years since.

Some figures within the Argentine football establishment are reportedly hoping to organize a formal farewell match for Messi on home soil at a later date, though no such match has yet been confirmed. The upcoming weekend’s stoppage-and-applause tribute represents the AFA’s initial, immediate gesture of recognition following Messi’s retirement announcement, ahead of any potential larger-scale ceremonial farewell that may be organized in the future.

Messi is expected to continue his club career with Inter Miami in Major League Soccer following his retirement from international duty, a chapter of his career that began after his departure from Paris Saint-Germain and prior to that, a storied run with FC Barcelona that established him as one of the most decorated players in the history of the sport.

Children and young people who live in Sheffield will get free bus and tram travel across South Yorkshire after a pilot scheme was voted through by councillors.

Sheffield City Council’s strategy and resources committee approved a 29-week scheme for people aged five to 18.

The trial will run from 15 February 2027 and is expected to cost £7.6m.

Council leader Fran Belbin said it would help families with the cost of living and give thousands of young people greater independence.

“The cost of a bus or tram journey should never be what stops a young person getting to college, taking up an apprenticeship, joining a sports club or simply spending time with friends,” she said.

Belbin revealed the pilot has deliberately been timed to run until September 2027, when a separate scheme run by South Yorkshire Mayor Oliver Coppard will provide region-wide free travel scheme for the same age group.

The pilot has been developed with the South Yorkshire Mayoral Combined Authority, drawing on experience from Barnsley’s MiCard scheme, which saw passenger numbers increase particularly in some of the most deprived areas.

Eligible children and young people will use a dedicated smartcard and usage, journey patterns, the cost and impact on the transport network will be monitored so the success of the pilot can be assessed.

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SYDNEY — The Canterbury-Bankstown Bulldogs and Brisbane Broncos meet Thursday night at Accor Stadium in a match with little on the line beyond pride, as both clubs close out a disappointing 2026 NRL season having already been eliminated from finals contention.

Kickoff for the Round 27 clash is set for 7:50 p.m. AEST, marking the opening fixture of the final round of the regular Telstra Premiership season. With the top eight already locked in ahead of this week’s matches, Thursday’s meeting between the 10th-placed Bulldogs and 15th-placed Broncos carries no bearing on the finals picture, leaving both sides to play primarily for pride and momentum heading into the 2027 campaign.

The result marks a significant fall for both clubs after each played finals football in 2025. Brisbane’s decline has been particularly steep, given the Broncos entered this season as reigning premiers following their 2025 grand final triumph. Instead, Brisbane’s title defense has unraveled into one of the more significant disappointments of the 2026 season, with the club sitting well outside finals contention heading into the year’s final round.

The Broncos arrive at Accor Stadium in the midst of an extended defensive collapse. Brisbane has conceded 30 points or more in six consecutive matches and has surrendered 40 or more points on six separate occasions this season. Over their past five matches alone, the Broncos have lost by margins of 24, 34, eight and 26 points, interrupted only by a narrow four-point win over Canberra. Their most recent outing saw them fall 46-20 at home to Melbourne, extending the pattern of defensive breakdowns that has defined their season.

Brisbane has made just one change to its lineup for Thursday’s match, with Ben Talty replacing Blake Mozer on the interchange bench due to a concussion stand-down for Mozer. The Broncos’ starting side features Hayze Perham at fullback, Kotoni Staggs and Deine Mariner in the centres, Ezra Mam at five-eighth alongside halfback Ben Hunt, and Patrick Carrigan captaining the side from lock. Payne Haas starts at prop, while Jordan Riki and Jaiyden Hunt round out the second-row pairing.

The Bulldogs, meanwhile, saw their own finals hopes extinguished last week following a 24-10 defeat to Penrith, though coach Cameron Ciraldo has elected to retain the same starting 13 for Thursday’s match. Canterbury may welcome back Kurt Mann from a groin injury through the reserves, giving the club additional depth as it closes out the season. Despite the defeat to Penrith, the Bulldogs were considered competitive throughout, defending repeated sets close to their own try line and remaining within striking distance deep into the second half, with Matt Burton and Jacob Preston both crossing for tries in that match.

Canterbury’s lineup for Thursday features Connor Tracey at fullback, Jacob Kiraz and Enari Tuala on the wings, and a centre pairing of Matt Burton and Bronson Xerri. Captain Stephen Crichton starts at five-eighth alongside halfback Lachlan Galvin, while Jaeman Salmon captains the forward pack from lock. Max King starts at prop opposite hooker Bailey Hayward, with Viliame Kikau and Jacob Preston forming the second-row combination.

Despite their inconsistent form across the season, the Bulldogs have shown flashes of attacking potency in recent weeks, scoring 44 points against St. George Illawarra and 36 against Melbourne, and averaging 22.8 points across their past five matches. That attacking output, combined with Brisbane’s well-documented defensive struggles, has made Canterbury the clear favorite heading into Thursday’s contest according to bookmakers.

The two clubs met earlier this season in Round 8, when Brisbane claimed a comfortable 32-12 victory, a result that underscores how significantly Brisbane’s form has deteriorated since that meeting given the extent of their defensive collapse in the months since. Analysts previewing Thursday’s rematch have suggested Canterbury will need to focus on improving its own execution rather than relying solely on the ladder-position gap between the two teams, given how unpredictable both sides have proven across the back half of the season.

Grant Atkins will officiate Thursday’s match as referee, with Belinda Sharpe serving as touch judge and Chris Butler operating as senior review official from the bunker.

For Brisbane, Thursday’s match represents an opportunity to end a difficult title-defense campaign on a positive note, even as the broader shape of the season leaves the club facing significant questions heading into the off-season about how to address the defensive issues that undermined its premiership defense. Head coach Michael Maguire’s side has struggled for consistency for much of the year, and Thursday’s match against a fellow non-finalist offers a low-pressure environment in which to search for answers before the club begins its preparations for 2027.

For Canterbury, the match offers a chance to build momentum heading into the off-season under Ciraldo, who has overseen a Bulldogs side that, despite ultimately falling short of finals qualification, showed periods of competitive form throughout the year, including matches in which the club’s attacking game clicked into gear against quality opposition.

With the finals field already determined ahead of Round 27, Thursday’s Bulldogs-Broncos clash joins several other matches across the final round that carry similarly limited stakes for ladder positioning, even as clubs look to finish the regular season strongly and establish form heading into the summer break. Both the Bulldogs and Broncos will be eager to avoid finishing their campaigns on a losing note, particularly given the broader narrative of decline both clubs have experienced relative to their finals appearances a year earlier.

Thursday’s match will be broadcast via WatchNRL, with conditions at Accor Stadium reported as fine with good ground conditions ahead of kickoff. The result will have no bearing on the finals series set to begin in the coming weeks, but will offer both clubs a final data point on their form heading into an off-season likely to bring significant scrutiny, particularly for Brisbane given the scale of its fall from champion status over the course of the 2026 season.

Welspun Corp shares jumped nearly 6% during Thursday’s trading session after Jefferies initiated coverage with a Buy rating and a price target of Rs 3,250, citing a multi-year upcycle in energy and water infrastructure spending in the US and Saudi Arabia.

The target implies a potential upside of 27% from the brokerage’s reference price of Rs 2,553.45. Jefferies valued the stock at 17 times its estimated September 2028 enterprise value-to-EBITDA.

At 9:26 am, Welspun Corp was trading at Rs 2,669.70 on the National Stock Exchange (NSE), up Rs 146.20, or 5.79%. The stock opened at Rs 2,554.70 against its previous close of Rs 2,523.50, while its volume-weighted average price stood at Rs 2,612.52.

Welspun Corp has rallied 51.51% over the past month, outperforming the benchmark’s 2.80% gain. The counter recorded a traded value of Rs 411.36 crore, while its free-float market capitalisation stood at Rs 33,944 crore.

Jefferies said Welspun, the world’s largest welded line-pipe manufacturer, is well placed to benefit from rising energy and water infrastructure spending in the US and Saudi Arabia, adding that its local manufacturing presence in both markets, capacity expansion, and robust order book provide strong earnings visibility.

US energy infrastructure upcycle

Jefferies expects US energy infrastructure investment to enter a multi-year expansion phase, driven by increasing liquefied natural gas exports, rising electricity demand from data centres and higher associated gas production from the Permian Basin.
Bloomberg estimates cited in the report peg cumulative US midstream capital expenditure at around $240 billion during 2026-30, up 57% from the preceding five years. Jefferies also believes spending estimates could be revised upwards as several proposed pipeline projects have yet to receive final approval.Welspun holds an estimated 30% share of the US large-diameter line-pipe market. Its domestic manufacturing presence gives it an advantage over import-dependent suppliers by limiting exposure to trade barriers, reducing delivery times and improving eligibility for projects that prioritise locally manufactured products.

The company is more than doubling its US line-pipe capacity (from 5.25 lakh tonnes per annum to nearly 11.75 lakh tonnes by FY27) to capitalise on the expected increase in pipeline construction.

Saudi Arabia expansion and India opportunity

Saudi Arabia offers a major growth opportunity as it expands energy and water infrastructure under Vision 2030. Welspun owns 22% of East Pipes Integrated Company and is building six lakh tonnes of annual capacity through a wholly owned subsidiary. Jefferies expects localisation requirements and Saudi Aramco’s planned 80% increase in gas-production capacity by 2030 to support demand.

Meanwhile, India also presents a sizeable long-term opportunity across oil and gas, drinking water, irrigation and river-linking projects, with more than 25,000 kilometres of gas pipelines commissioned and over 10,000 kilometres under construction. However, Jefferies said near-term visibility remains uncertain because delayed project awards, funding constraints and excess ductile-iron pipe capacity have weighed on domestic demand, while greater competition has kept margins below those in the US.

Growth projections

Jefferies expects Welspun’s total pipe-manufacturing capacity to increase 51% to 37 lakh tonnes per annum by FY27, from 24 lakh tonnes in FY26. The expansion is projected to support a 17% compound annual growth rate in volumes between FY26 and FY29.

The brokerage expects EBITDA to grow at a CAGR of 32%, while earnings per share are projected to increase at a CAGR of 33% over the same period. Growth is expected to be supported by higher volumes and a greater contribution from the company’s more profitable overseas operations.

Revenue is forecast to nearly double from Rs 16,770 crore in FY26 to Rs 33,217 crore in FY29. EBITDA is projected to increase from Rs 2,236 crore to Rs 5,138 crore, while net profit is estimated to rise from Rs 1,613 crore to Rs 3,805 crore.

Earnings per share are expected to climb from Rs 61.15 in FY26 to Rs 144.25 in FY29. Jefferies also expects EBITDA per tonne to improve to between Rs 23,000 and Rs 25,000 during FY27-FY29 as the overseas business accounts for a larger share of earnings.

Order book and balance sheet

Welspun’s order book stood at Rs 42,100 crore, equivalent to around 2.5 times its FY26 revenue and providing strong visibility on future sales, according to Jefferies.

The brokerage expects the company’s net cash position to rise from Rs 1,400 crore at the end of FY26 to Rs 3,900 crore by FY29. It also forecasts free cash flow of Rs 1,100-2,000 crore during FY28 and FY29 as operating cash generation improves and capital expenditure moderates.

Welspun delivered an average return on equity of 21% during FY24-FY26. Jefferies expects the ratio to remain at 22-23% during FY27-FY29.

Key risks

Jefferies identified slower-than-expected order inflows in the US and the Middle East, margin pressure from increased competition, and delays in commissioning new capacity as the key risks to its thesis. Elsewhere in the report, it also flagged sluggish execution of Indian infrastructure projects and the company’s relatively high working-capital requirements as factors that could affect volumes and cash generation.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.