PRE-MARKET INDIAN STOCK NEWS: Bharti Airtel misses estimates, Adani Ports purchases Evos for EUR 2.56bln

Adani Ports (ADSEZ IS) - Co. is to acquire Evos from Igneo Infrastructure Partners for an enterprise value of EUR 2.56bln and equity value of EUR 1.18bln. (Adani Ports)

Astral (ASTRA IS) - Q2 FY27 (INR): Net profit fell 5.9% Y/Y to 1.27bln, EBITDA rose 1.6% Y/Y to 2.61bln and revenue rose 26.1% Y/Y to 19.88bln. EBITDA margin contracted to 13.1% (prev. 16.3% Y/Y). (Economic Times)

Bikaji Foods International (BIKAJI IS) - Q2 FY27 (INR): Net profit fell 11.3% Y/Y to 707.8mln and revenue rose 13.1% Y/Y to 9.21bln. (Economic Times)

Britannia Industries (BRIT IS) - Q2 FY27 (INR): Net profit rose 10.8% Y/Y to 7.26bln and revenue rose 15.6% Y/Y to 55.98bln. (Economic Times)

Bharti Airtel (BHARTI IS) - Q2 FY27 (INR): Net profit rose 31% Y/Y to 88.88bln (exp. 92.93bln) and revenue rose 16.7% Y/Y to 608.78bln. (Economic Times)

Bharti Hexacom (BHARTIHE IS) - Q2 FY27 (INR): Net profit rose 34.4% Y/Y to 5.66bln, EBITDA rose 14% Y/Y to 13.77bln and revenue rose 11.4% Y/Y to 25.82bln. EBITDA margin improved to 53.3% (prev. 52.1% Y/Y). (Economic Times)

Glenmark Pharmaceuticals (GNP IS) - Q2 FY27 (INR): Net profit fell 56.7% Y/Y to 2.64bln, EBITDA fell 63.4% Y/Y to 8.64bln and revenue fell 29.8% Y/Y to 42.47bln. EBITDA margin contracted to 20% (prev. 39% Y/Y). (Economic Times)

Godfrey Phillips India (GP IS) - Q2 FY27 (INR): Net profit fell 37.7% Y/Y to 1.90bln and revenue rose 4.1% Y/Y to 13.42bln. (Economic Times)

Life Insurance Corporation of India (LICI IS) - Q2 FY27 (INR): Net profit rose c. 20% Y/Y to 121.15bln (prev. 100.98bln), supported by higher premium income and investment earnings, but fell 11% Q/Q. (Economic Times)

Oil and Natural Gas Corporation (ONGC IS) - Q2 FY27 (INR): Consolidated net profit rose 46.9% Y/Y to 185.35bln and revenue rose 25.6% Y/Y to 1.98tln. Standalone net profit rose 57.3% Y/Y to 154.89bln. (Economic Times)

Safari Industries (SII IS) - Q2 FY27 (INR): Net profit 369.3mln and revenue rose 9.1% Y/Y to 5.82bln. Separately, signs a 20-year brand licensing agreement with Carlton Retail and appoints Saif Ali Khan as brand ambassador for Magnum by Safari. (Economic Times)

Sansera Engineering (SANSERA IS) - Q2 FY27 (INR): Net profit rose 52% Y/Y to 1.09bln and revenue rose 32% Y/Y to 10.92bln. (Economic Times)

Texmaco Rail & Engineering (TXMRE IS) - Secures three orders worth a combined INR 4.29bln, comprising INR 3.30bln from Jujhar Logistics & Travels, INR 680.4mln from APL Logistics Vascor Automotive and INR 309.8mln from UltraTech Cement. (Economic Times)

Titan Company (TTAN IS) - Q2 FY27 (INR): Net profit rose 54% Y/Y to 17.22bln, driven by strong demand for jewellery, premium watches and eyewear. (Economic Times)

Vedant Fashions (MANYAVAR IS) - Q2 FY27 (INR): Net profit rose 0.36% Y/Y to 562mln, EBITDA fell 5.1% Y/Y to 1.05bln and revenue rose 2.4% Y/Y to 2.69bln. EBITDA margin contracted to 39% (prev. 42% Y/Y). (Economic Times)

• India's Power Secretary Agarwal says they plan to mandate electricity distributors to purchase energy storage capacity alongside renewable power to reduce clean energy wastage, with requirements still under discussion and rules expected to be finalised by March.
• India is reportedly in final-stage talks for the Philippines to acquire c. five BrahMos supersonic cruise missile systems, comprising nearly 60 missiles, in a deal potentially worth USD 700-800mln, according to Reuters citing sources.