Indian stocks to watch: GRSE naval deal, Dr Reddy's HIV drug nod, HPCL fire

what happened

Moody's highlights several Indian companies in its list of stocks to watch. Garden Reach Shipbuilders & Engineers (GRSE) has agreed a deal worth about Rs 32,000 crore with the Indian Navy for five next-generation corvettes, a key step in the country's homegrown warship programme. It came in as the lowest bidder (L1) and already has nine warships under construction.

Dr Reddy's Laboratories told exchanges that the US FDA has given tentative approval to its twice-yearly injectable lenacapavir for HIV prevention. Under an existing voluntary licence, the drug could reach more than 120 countries outside the US. Lupin, meanwhile, received FDA approval on its abbreviated new drug applications for amifampridine tablets, 10 mg.

Smaller items included NBCC's new work orders of about Rs 70.50 crore, excluding GST, from Oil India and HAL. Belrise Industries signed a licence and technical assistance pact with Japan's Yamato for filter and air intake products. Datakosa won a $2.46 million AI automation order from Hermes Networks, and Panache DigiLife received a Rs 51.43 crore laptop supply order. HPCL said a fire in a pitch intermediate storage tank at its Visakhapatnam refinery was controlled, with no damage to any units.

why it matters

For markets, these are mostly company-level items with limited read-across to broader indices. The largest is the GRSE naval contract, which gives the shipbuilder a long order pipeline. HPCL said the refinery fire caused no unit damage, so no direct effect on refining output is visible yet.

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