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The World Health Organisation said it was aware of reports that a laboratory worker in Irkutsk Oblast, in the Russian Federation, died of ‘severe pneumonia.’ View More

German mid-sized companies are increasingly expanding their engineering and technology operations in India, particularly in Bengaluru. More than 80 German companies operate over 150 global capability centre (GCC) units employing over 130,000 professionals. Access to engineering talent and skilled professionals in India drives this rapid growth, which has seen GCCs grow by 108% in five years. Many of these companies now collaborate with universities and startups to enhance capabilities further. View More

Bengaluru: German mid-sized companies are expanding their engineering, technology, artificial intelligence and research operations in India, according to a report by the Indo-German Chamber of Commerce (IGCC). More than 80 German companies operate over 150 global capability centre (GCC) units in India, employing more than 130,000 professionals, the report said. German Mittelstand GCCs in India have grown 108% in five years. The report, titled “Reimagining Global Capability Centers (GCCs) for the German Mittelstand: India as a Strategic Value Hub”, was released ahead of the Indo-German Engineering Summit to be held in Bengaluru on October 7. Bengaluru has emerged as a key location for these operations, with engineering talent, technology companies, universities and startups supporting companies setting up and expanding GCCs, according to the report. German companies including Bosch , Siemens , Volkswagen Group and Daimler Truck have established engineering and R&D operations in India. Live Events India has more than 1,700 GCCs employing more than 1.9 million people. More than half of these centres have evolved into portfolio or transformation hubs, while nearly 90% operate across multiple functions, the report said. The report said German companies were increasingly using their Indian operations for engineering, software development, data, cloud, AI, digital platforms and product development, rather than limiting them to support functions. Access to engineering talent is one of the factors driving this expansion. India has 2.3-2.5 million STEM graduates entering the workforce each year, while German companies continue to face shortages of skilled professionals in engineering, software and IT, the report said. Karnataka accounts for more than half of India's GCC ecosystem, according to the report. It said the state's engineering talent and technology ecosystem had helped make Bengaluru a major location for German companies looking to expand engineering and R&D operations. The report also said 57% of German GCCs in India partner with universities and startups. For German companies, retaining control over intellectual property, proprietary engineering knowledge and customer-specific expertise remains important, the report said. It recommended that companies define the functions to be established in India and expand their operations as capabilities develop. The report also said companies should consider talent availability, universities, startups, infrastructure and regulatory conditions, in addition to costs, when choosing locations for GCCs. The Indo-German Engineering Summit will discuss the expansion of German Mittelstand companies in India, GCCs, manufacturing, startups and co-development. More than 2,000 German companies are active in India, while 13,347 German companies export to India, according to European Commission data. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The Supreme Court granted Tata Chemicals relief from coercive actions while reviewing a Gujarat High Court verdict. Senior advocate Abhishek Singhvi represented Tata Chemicals, emphasizing environmental degradation and encroachment issues. The high court previously dismissed the company's plea concerning government land used for wastewater discharge. Furthermore, the Gujarat Pollution Control Board has been tasked with assessing the environmental impact and remediation measures. View More

New Delhi: The Supreme Court ordered on Monday that no coercive action be taken against Tata Chemicals over alleged environmental damage to a marine sanctuary in the Gulf of Kutch . A bench of Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and V Mohana issued a notice on the company's plea challenging a May 25 verdict of the Gujarat High Court . The bench sought the Gujarat government's response in the matter by November 2 and said, "Meanwhile, no coercive action shall be taken against the petitioners." Senior advocate Abhishek Singhvi, appearing in the court for Tata Chemicals, said issues involved in the matter relate to environmental degradation and encroachment. On May 25, the high court dismissed the company's plea challenging a 2006 order of the district collector that had rejected its claim over land used for open channels discharging wastewater into the sea. Live Events The court has asked the Gujarat Pollution Control Board (GPCB) to appoint experts to assess the environmental impact caused to the area and determine appropriate remediation measures and compensation within three months. It had rejected the company's claim of pre-existing rights over legacy open wastewater channels at its Mithapur facility and found encroachment of the government land of the marine sanctuary. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Biocon Electric has filed DRHP with Sebi for a Rs 59 lakh-share IPO, comprising a fresh issue and OFS. The company plans to use fresh proceeds primarily for working capital, with shares proposed for BSE and NSE listing. View More

Electrical products maker Biocon Electric has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of up to 59,00,000 equity shares. The proposed offer comprises a fresh issue of up to 48,00,000 equity shares and an offer for sale (OFS) of up to 11,00,000 equity shares by promoter-selling shareholders, with each of the five selling shareholders offering up to 2,20,000 shares. The shares will have a face value of Rs 10 each. The company has proposed to list its equity shares on the Main Board of BSE Limited and the National Stock Exchange of India Limited. Of the net offer, not more than 50% will be available for allocation to qualified institutional buyers (QIBs), of which up to 60% may be allocated to anchor investors. The non-institutional bidder portion will account for not less than 15%, while retail individual bidders will be entitled to not less than 35% of the net offer. The company had 1,50,00,000 pre-offer equity shares outstanding. ALSO READ: Nifty rebounds after record 8-week rout, but is this a dead cat bounce investors should fear? Live Events The company proposes to use the net proceeds from the fresh issue primarily to fund its working capital requirements, estimated at Rs 6,257.45 lakh, with the balance, if any, earmarked for general corporate purposes. GYR Capital Advisors Private Limited is the book running lead manager to the offer, while Bigshare Services Private Limited is the registrar. Financial snapshot Biocon Electric's revenue from operations rose 37.94% to Rs 19,673.37 lakh in FY2026 from Rs 14,262.42 lakh in FY2025. Revenue from operations stood at Rs 13,645.24 lakh in FY2024. Total income increased to Rs 19,817.24 lakh in FY2026 from Rs 14,463.89 lakh in FY2025 and Rs 13,750.31 lakh in FY2024. EBITDA rose 17.58% to Rs 2,563.82 lakh in FY2026 from Rs 2,180.45 lakh in FY2025, while profit after tax (PAT) increased 22.96% to Rs 1,414.05 lakh from Rs 1,150 lakh. EBITDA margin stood at 12.94% in FY2026, compared with 15.08% in FY2025, while PAT margin was 7.19%, against 8.06% a year earlier. The company's return on equity stood at 24.05% in FY2026, compared with 25.06% in FY2025 and 31.82% in FY2024. Return on capital employed was 12.19%, against 11.41% in FY2025 and 13.65% in FY2024. Net worth increased at a CAGR of 28.23% to Rs 6,591.59 lakh as of March 31, 2026. The company said revenue from operations grew at a CAGR of 20.07% between FY2024 and FY2026. Its debt-equity ratio improved to 1.11 times as of March 31, 2026, from 1.47 times as of March 31, 2025 and 1.64 times as of March 31, 2024. FY2026 revenue also included Rs 2,526.63 lakh, or 12.84% of revenue from operations, from one-time trading of aluminium rods. About Biocon Electric Biocon Electric Limited, formerly Biocon Electric Private Limited, was incorporated in 2019 and has its registered office in Delhi and corporate office in Bengaluru, Karnataka. The company manufactures, processes, assembles, markets and distributes PVC insulated wires and tapes, lighting solutions, electrical switches and accessories, MCBs, RCCBs and other switchgear products, as well as other electrical appliances. It offers a portfolio of over 1,500 SKUs catering to residential, commercial, industrial and infrastructure applications. The company operates three manufacturing facilities in Delhi, Ghaziabad in Uttar Pradesh and Vasai in Maharashtra. These are supplemented by an assembly and testing unit and a packaging and ancillary operations unit at Vasai.Its operating model combines in-house manufacturing, processing and finishing, assembly and testing, and third-party sourcing of products sold under the "BIOCON" brand. As of March 31, 2026, 1,427 of the company's 1,915 channel partners were located in southern India. Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. 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Spain Prime Minister Pedro Sánchez has called an early general election for November 29 after his minority government suffered a parliamentary setback over housing measures. With the Socialists trailing rivals in several polls, the vote could determine whether Sánchez retains power View More

The Labour Bureau revised minimum wages effective October 1, 2026, increasing rates for agricultural and other workers. The Variable Dearness Allowance, tied to inflation adjustments, raised daily wages for unskilled agricultural workers to ?537, ?491, and ?486 in Areas A, B, and C respectively. View More

R.K. Fashion Accessories IPO opened for subscription on October 5 and will close on October 7. The Rs 34.99 crore SME issue has a price band of Rs 77–82 per share and a lot size of 1,600 shares. The company plans to use proceeds for working capital, expansion and new retail facilities. View More

The R.K. Fashion Accessories IPO opened for subscription on Monday, October 5, 2026, giving investors a three-day window to bid for shares. The public issue will remain open until October 7, with the allotment expected to be finalised on October 8. The R.K. Fashion Accessories IPO is a book-built issue worth Rs 34.99 crore, comprising a fresh issue of 42.67 lakh shares. There is no offer-for-sale (OFS) component in the offer. The company has fixed the IPO price band at Rs 77–82 per share, with a lot size of 1,600 shares. At the upper end of the price band, retail investors are required to apply for a minimum of two lots, or 3,200 shares, involving an investment of Rs 2,62,400. For high-net-worth individuals (HNIs), the minimum application is three lots, or 4,800 shares, requiring an investment of Rs 3,93,600 at the upper price band. Following the IPO, the shares are proposed to be listed on the NSE SME platform. The tentative listing date is October 12, 2026. Live Events Affinity Global Capital Market Pvt Ltd is the book-running lead manager to the issue, while Cameo Corporate Services Ltd is the registrar. Anant Securities is the market maker for the issue. IPO Objects of the Issue The company proposes to utilise the net proceeds from the IPO primarily to meet its working capital requirements, for which Rs 5.21 crore has been earmarked. It also plans to allocate Rs 8.80 crore towards setting up a new plating facility in Baruipur, Kolkata, West Bengal, and Rs 5.37 crore towards establishing a new B2B showroom in Kolkata. Further, Rs 2.48 crore will be used to complete B2C stores in Kolkata, while Rs 5.60 crore has been earmarked for inventory costs for the proposed new showroom and stores. The remaining proceeds will be utilised for general corporate purposes. The total amount proposed to be utilised towards these objectives stands at Rs 27.47 crore. Financial Performance R.K. Fashion Accessories Ltd. reported a strong improvement in its financial performance in FY26, with total income rising 77% to Rs 32 crore from Rs 18 crore in FY25. The growth reflects a significant increase in the company's revenue during the year ended March 31, 2026. Profitability also strengthened during the period, with profit after tax (PAT) increasing 215% to Rs 6 crore in FY26 from Rs 2 crore in FY25. The sharp rise in profit indicates a substantial improvement in the company's earnings during the year. About R.K.Fashion Accessories Ltd. Incorporated in March 2010, R.K. Fashion Accessories Ltd. is engaged in manufacturing imitation jewellery through contract manufacturers and its wholesale distribution, along with trading branded cosmetics. Its portfolio includes handcrafted imitation jewellery that blends traditional designs with contemporary styles. The company caters to both B2B and B2C segments through wholesale, retail and online channels and has also adopted a multi-platform e-commerce strategy. It is developing a property on Rash Behari Avenue, Kolkata, to strengthen its retail presence and expand its B2C customer base. The company focuses on product quality through multi-stage inspection and quality control processes and has built relationships with customers through its B2B operations. As of June 30, 2026, it had 50 permanent employees, including directors and key managerial personnel, supported by contractual workers based on business requirements and order volumes. Its workforce spans operations, management, finance, marketing, design, sales, customer service, packaging, quality control and human resources. Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

BRICS 2026 has built momentum. The next chapter will depend on how effectively agreements are matched by the corridors, infrastructure, technology, and systems needed to move goods reliably, with alternatives when disruptions occur. View More

BRICS, an informal bloc of major emerging economies established by Brazil, Russia, India, and China, with South Africa joining the group later, has the scale to reshape global trade. It brings together major consumer markets, manufacturing centres, and resource-rich countries, representing almost half of the world’s population and 26% of global trade. But scale alone does not move goods. The opportunity is there. The question is whether the infrastructure, systems, and connections exist to grow that opportunity, particularly as trade routes and tariffs shift. The 2026 BRICS Summit recognised this, with the New Delhi Declaration advancing the BRICS Logistics Supply-Chain Cooperation Framework, alongside more digitised global value chains, closer customs cooperation, and work on public-private partnership models. The next step is practical. BRICS needs to make it easier for goods to move between its markets. Live Events Intra-BRICS merchandise trade reached $1.2 trillion in 2025-26, up 13 times from $84 billion in 2003. Yet it still represents only around 5% of global trade. That gap is the opportunity. And the opportunity is to connect what already exists more effectively while creating new corridors where they are needed. Recent disruptions have shown why this matters. When established trade routes are constrained, businesses can find alternatives, but every alternative comes with a cost. Cargo may travel further, pass through more borders, require additional handling or spend longer in transit. For food and energy, the consequences are more serious. Food-producing nations need reliable access to importing markets, while import-dependent markets need predictable, uninterrupted supply. Globally, over 13% of food is lost between harvest and retail, often during transport and processing. Better cold chains, warehousing, ports, rail, and multimodal networks are, therefore, strategic infrastructure. Digital connectivity is equally important. Real-time cargo visibility, digital documentation, integrated customs systems, and predictive supply-chain data can help businesses anticipate delays and respond before they become disruptions. We also cannot ignore institutional friction. Non-tariff barriers and protectionist policies can undo the benefits of a trade agreement. Different standards, duplicated testing and certification, and repeated documentation can add cost and delay even where trade agreements are already in place. UNCTAD’s May 2026 Global Trade Update found that non-tariff measures can cost more than tariffs in most countries. We can reduce some of these barriers without building a new road or port. Dubai’s single-window model, which has processed nearly 400 million transactions since its establishment in 2003, has shown how connecting customs, ports, shipping lines, and traders through a single platform can reduce friction. The India-UAE trade corridor shows what is possible when customs systems are connected. Nhava Sheva and Jebel Ali are linked digitally, allowing information to travel ahead of cargo and cutting clearance times by 40%. This is a model BRICS can scale: identify priority corridors, digitise documentation, connect customs systems, and reduce the need for businesses to submit the same information multiple times. The opportunity is also bigger than moving goods from one port to another. Connecting producers with processing, storage, and distribution closer to the markets they serve can create trade flows that did not previously make economic sense. Food is a good example. An integrated cluster can bring producers, processors, logistics providers, and distributors together, reducing transfers, time, cost, and food loss, while giving small and medium enterprises (SMEs) access to infrastructure they could not develop on their own. Jebel Ali Free Zone shows how this can scale, with over 700 companies across food and beverage, agriculture, and livestock. The Dubai Food District, currently under development, is another good example. For BRICS, that means looking at the entire journey from producer to consumer. Investment should, therefore, target points where delays, losses, and breaks in the supply chain are most likely, whether that’s through aligning customs and food-safety requirements through digital certification, pre-clearance or dedicated green lanes for perishables that can minimise delays and protect shelf life. A shipment of food should not lose days because a certification has to be repeated at another border. A manufacturer should not have to navigate separate digital processes for every stage of a journey. A small business should not have to absorb the cost of inefficiencies that larger companies can manage more easily. The UAE (United Arab Emirates) has a particular role to play. As a major food-importing market, it can help connect major BRICS producers, including India and China, with consumers across the Middle East and Africa. Delivering this will require both public and private investment. Governments can provide policy frameworks and core infrastructure. The private sector brings capital, technology, operational expertise, and market knowledge. Together, they can develop logistics corridors and digital systems that can support trade as demand grows. BRICS 2026 has built the momentum. The next chapter will depend on how effectively agreements are matched by the corridors, infrastructure, technology, and systems needed to move goods reliably, with alternatives when disruptions occur. The author is the CEO & Managing Director of DP World GCC. Views are personal. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

In the tax return that he filed, the man declared LTCG of Rs 7.73 crore after accounting for certain expenses. He claimed tax exemptions of Rs 2.64 crore under Section 54F, which relates to residential property, and Section 54B, applicable to agricultural property. However, the Assessing Officer (AO) was not satisfied with the documents that were submitted by the taxpayer to support his claims View More

Vishal Nirmiti's initial public offering (IPO) closed on September 30, 2026, after a three-day subscription period. The public issue garnered bids for 1,44,46,804 shares against 84,71,153 shares available, achieving a subscription rate of 1.71 times. In the grey market, the IPO holds a premium of Rs 20 over its upper price band, signifying positive expectations. Retail investors subscribed to the IPO 1. View More

The three-day subscription window for the initial public offering (IPO) of Vishal Nirmiti closed on Monday. The Rs 178-crore public issue, which opened for subscription on September 30, 2026, comprises a fresh issue and an offer for sale (OFS). The public issue received a muted response from investors and garnered bids for 1,44,46,804 shares against 84,71,153 shares on offer, resulting in a subscription of 1.71 times by the end of the third day of the subscription window, according to NSE data. In the grey market, the IPO is currently commanding a premium of Rs 20, or 9.09%, over the upper end of its price band, indicating expectations of a premium listing. On Day 2, the Vishal Nirmiti IPO was subscribed 57% overall against the 84.71 lakh shares on offer. Read more: Orient Cables shares to list today; GMP signals 45% premium over issue price Live Events Vishal Nirmiti IPO: Key details The Vishal Nirmiti IPO is a book-built issue comprising a fresh issue of 65.91 lakh shares aggregating to Rs 145 crore and an offer for sale of 15 lakh shares worth Rs 33 crore. With the IPO set to close today, the basis of allotment is expected to be finalised on October 6. The shares are proposed to list on both the NSE and BSE, with October 8 as the tentative listing date. The company has fixed the IPO price band at Rs 208-220 per share. The lot size is 68 shares, meaning retail investors will need to invest a minimum of Rs 14,960 at the upper end of the price band. Saffron Capital Advisors Pvt Ltd is the book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar to the issue. Read more: AceVector shares to list today; Check GMP ahead of debut Vishal Nirmiti IPO subscription status The retail investor portion was subscribed 1.67 times against the 59.29 lakh shares reserved for the category. The Non-Institutional Investors (NII) portion was subscribed 1.81 times against the 24.56 lakh shares on offer. The Qualified Institutional Buyers (QIB) portion was subscribed 1.27 times against the 84,710 shares reserved for the category. ALSO READ: Valuations of IT stocks already capture most of AI disruption risk: Chintan Haria Vishal Nirmiti IPO GMP today The grey market premium (GMP) for the Vishal Nirmiti IPO stood at Rs 20, or 9.09%, over the upper end of the price band. Based on the upper price band of Rs 220 and the prevailing GMP, the implied estimated listing price is around Rs 240. GMP note: Grey market premiums are unofficial indicators and can change before listing based on market conditions and investor sentiment. They should not be considered a reliable indicator of the actual listing price or future performance of the shares. Analyst view on Vishal Nirmiti IPO According to an Anand Rathi research report, Vishal Nirmiti is valued at 23.2 times FY26 price-to-earnings (P/E) and 13.1 times FY26 EV/EBITDA at the upper end of the price band. This implies a post-issue market capitalisation of approximately Rs 5,806 million. The brokerage highlighted the company's established position in railway infrastructure manufacturing, execution capabilities, improving profitability and growth opportunities linked to India's infrastructure capital expenditure cycle. Anand Rathi described the IPO as fully priced and assigned a "Subscribe - Long Term" rating to the issue. Objects of the issue The company proposes to use the net proceeds from the fresh issue to fund working capital requirements, repay and/or pre-pay term loans, and meet general corporate purposes. Of the total Rs 94 crore in net proceeds, Rs 75 crore has been earmarked for working capital requirements, while Rs 19 crore will be used for repayment and/or pre-payment, in part or in full, of term loans. The remaining amount will be utilised for general corporate purposes. About Vishal Nirmiti Vishal Nirmiti, promoted by Brij B Tapadiya, is a civil engineering, manufacturing and construction company primarily engaged in the manufacturing and dealing of pre-stressed concrete (PSC) sleepers for railways, precast and pre-stressed concrete products for various applications. The company is also involved in the fabrication and erection of MS pipes, MS liners and penstock pipes for pumped storage projects (PSPs). It provides engineering, procurement, infrastructure and construction services for railway infrastructure and various civil engineering, irrigation and infrastructure development projects across sectors such as railways, renewable power and industrial sectors. The business is divided into two segments: manufacturing and services. The manufacturing segment comprises the PSC sleeper division, which manufactures PSC sleepers for rail projects primarily awarded by public-sector clients such as Indian Railways and its subsidiaries, including DFCCIL, as well as private-sector clients such as ISC Projects Private Limited. The MS pipes division manufactures large-diameter MS pipes, MS liners and penstock pipes for pumped storage projects on behalf of private clients across multiple industries, including general infrastructure and engineering, hydropower projects, lift irrigation and water supply projects of various sizes, as per client requirements. The company also manufactures precast concrete elements such as noise barriers and cable ducts. Vishal Nirmiti Ltd reported a 6% increase in total income to Rs 344 crore in FY26, compared with Rs 325 crore in FY25. The company's profit after tax (PAT) also increased 6% year-on-year to Rs 25 crore in FY26 from Rs 24 crore in FY25. Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. 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