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Bharat Forge Ltd.

Fortuna Engineering Private Limited is a leading manufacturer of precision-machined engine components for automotive and industrial applications in India

India’s Defence Research and Development Organisation (DRDO) has unveiled two amphibious armoured combat platforms in tracked and wheeled variants. Both systems feature a 30 mm crewless turret, machine gun and anti-tank missiles, and can operate across land and water using hydro jets. Developed with Tata Advanced Systems and Bharat Forge, the platforms reflect a push for battlefield mobility and indigenisation.

India’s Defence Research and Development Organisation (DRDO) has unveiled two amphibious armoured combat platforms in tracked and wheeled variants. Both systems feature a 30 mm crewless turret, machine gun and anti-tank missiles, and can operate across land and water using hydro jets. Developed with Tata Advanced Systems and Bharat Forge, the platforms reflect a push for battlefield mobility and indigenisation.

In this briefing: Primer: Amneal Pharmaceuticals Inc (AMRX US) - Apr 2026 Korea Small Cap Gem #60: Kona I Co India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector Primer: Manila Water Co (MWC PM) - Apr 2026 Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game 1. Primer: Amneal Pharmaceuticals Inc (AMRX US) - Apr 2026 Amneal is a diversified pharmaceutical company showing a strong operational turnaround, with a strategic shift towards higher-margin complex products such as specialty pharmaceuticals, injectables, and biosimilars. Financial performance has markedly improved, with the company returning to profitability in 2025, driven by robust revenue growth across its Affordable Medicines, Specialty, and AvKARE segments and a focus on deleveraging. Key risks include intense competition in the generic drug market, significant pricing pressure from consolidated buyers, regulatory hurdles, and the upcoming loss of exclusivity for its key specialty drug, Rytary.

In this briefing: Primer: Amneal Pharmaceuticals Inc (AMRX US) - Apr 2026 Korea Small Cap Gem #60: Kona I Co India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector Primer: Manila Water Co (MWC PM) - Apr 2026 Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game 1. Primer: Amneal Pharmaceuticals Inc (AMRX US) - Apr 2026 Amneal is a diversified pharmaceutical company showing a strong operational turnaround, with a strategic shift towards higher-margin complex products such as specialty pharmaceuticals, injectables, and biosimilars. Financial performance has markedly improved, with the company returning to profitability in 2025, driven by robust revenue growth across its Affordable Medicines, Specialty, and AvKARE segments and a focus on deleveraging. Key risks include intense competition in the generic drug market, significant pricing pressure from consolidated buyers, regulatory hurdles, and the upcoming loss of exclusivity for its key specialty drug, Rytary.

In this briefing: Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next? Exencial Industry Tidings - 10-04-2026 India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game Primer: ICICI Bank Ltd (ICICIBC IN) - Apr 2026 1. Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next? India's listed jewellers posted Q4 FY26 revenue growth of 46–102% YoY, beating expectations across Titan, Kalyan, P N Gadgil, and Senco. Buyer volumes returned at Titan after three flat quarters , studded outperformed plain gold across every player, confirming demand beyond price inflation. Akshaya Tritiya advance bookings look strong, may full results will confirm whether revenue beats translated into margin delivery across names. 2. Exencial Industry Tidings - 10-04-2026 NRI demand for term insurance surges by 35% m-o-m amid West Asia tensions Full impact of West Asia conflict to be assessed once situation normalises: Kannur airport Project completions in processed foods industry rise to Rs.12.9 billion in March 2026 quarter 3.

In this briefing: Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next? Exencial Industry Tidings - 10-04-2026 India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game Primer: ICICI Bank Ltd (ICICIBC IN) - Apr 2026 1. Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next? India's listed jewellers posted Q4 FY26 revenue growth of 46–102% YoY, beating expectations across Titan, Kalyan, P N Gadgil, and Senco. Buyer volumes returned at Titan after three flat quarters , studded outperformed plain gold across every player, confirming demand beyond price inflation. Akshaya Tritiya advance bookings look strong, may full results will confirm whether revenue beats translated into margin delivery across names. 2. Exencial Industry Tidings - 10-04-2026 NRI demand for term insurance surges by 35% m-o-m amid West Asia tensions Full impact of West Asia conflict to be assessed once situation normalises: Kannur airport Project completions in processed foods industry rise to Rs.12.9 billion in March 2026 quarter 3.

In this briefing: Korea Small Cap Gem #60: Kona I Co India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector Primer: Manila Water Co (MWC PM) - Apr 2026 Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game Primer: Viva Biotech Holdings (1873 HK) - Apr 2026 1. Korea Small Cap Gem #60: Kona I Co Kona I is a Korean fintech platform and digital payment infrastructure provider that has been experiencing excellent growth in sales and profits. It generated sales of 309.2 billion won (up 30.8% YoY) and operating profit of 88.9 billion won (up 166% YoY) in 2025. Valuations are attractive. I would argue that positives of the company's core business should have a bigger impact on the company than some lingering concerns about its investment in the Hanok Heritage hotel. 2. India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector India's medical tourism sector faces a simultaneous shock: a 50–75% crash in West Asian patient volumes due to the Iran-Israel-US conflict.

In this briefing: Korea Small Cap Gem #60: Kona I Co India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector Primer: Manila Water Co (MWC PM) - Apr 2026 Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game Primer: Viva Biotech Holdings (1873 HK) - Apr 2026 1. Korea Small Cap Gem #60: Kona I Co Kona I is a Korean fintech platform and digital payment infrastructure provider that has been experiencing excellent growth in sales and profits. It generated sales of 309.2 billion won (up 30.8% YoY) and operating profit of 88.9 billion won (up 166% YoY) in 2025. Valuations are attractive. I would argue that positives of the company's core business should have a bigger impact on the company than some lingering concerns about its investment in the Hanok Heritage hotel. 2. India Loses Patients: The Geopolitical Stress Test for India's Medical Tourism Sector India's medical tourism sector faces a simultaneous shock: a 50–75% crash in West Asian patient volumes due to the Iran-Israel-US conflict.