Pre-Market Update!! (16-06-2026)
India's AI bets, solar wins, rail orders, legal blows & real estate deals markets stay eventful today.
• HCLTech | Sarvam AI HCLTech will invest ₹1,427.25 crore ($150 million) in Sarvam AI, securing a 10.46% stake. The funds will bolster development of next-generation models spanning agentic AI, coding, and cybersecurity, reinforcing India's sovereign AI ambitions across language, speech, vision, and document intelligence.
• Waaree Energies has clinched an 800 MW solar module supply contract from a domestic client, earmarked for FY27 execution. This substantial order further cements the company's growing footprint in India's rapidly expanding renewable energy manufacturing landscape.
• K2 Infragen has secured a ₹158.6 crore railway electrification contract from Konkan Railway. This latest order strengthens the company's portfolio in critical rail infrastructure, underlining its expanding capabilities in powering India's ambitious railway modernisation programme.
• Arvind Smart Spaces has inked a Joint Development Agreement for a residential horizontal project in South Ahmedabad, spanning 58.25 acres with 2.5 million sq. ft. of saleable area. The venture carries an estimated revenue potential of ₹180 crore.
• TCS | DXC Lawsuit The U.S. Supreme Court declined TCS' review petition in the DXC Technology lawsuit, compelling the IT giant to book an additional $70 million provision atop the $150 million already set aside covering damages, accrued interest, and legal expenditures.
• Megastar Foods The Punjab Government has granted Megastar Foods a 15-year electricity duty exemption, making the company eligible for cumulative incentives worth up to ₹881.86 crore. This regulatory relief is poised to significantly enhance the firm's long-term operational competitiveness.
• Sarvam AI has successfully completed the first close of its $300 million Series B fundraise, garnering $234 million at a valuation of $1.5 billion. The milestone underscores robust investor confidence in India's homegrown full-stack artificial intelligence ecosystem.