February 23, 2026 | Markets & Corporate Roundup
Global equities traded mixed on Monday as strength in US tech benchmarks contrasted with volatility across Asia, while key Indian corporates announced significant order wins and regulatory clarifications.
Global Markets Snapshot
US Markets
Dow Jones Industrial Average Futures: 49,362.03 (-0.53%)
S&P 500: 6,909.51 (+0.69%)
Nasdaq Composite: 22,877.65 (+0.86%)
Wall Street ended largely higher, led by gains in technology and growth stocks, even as Dow futures indicated cautious early positioning.
Asian Markets
GIFT NIFTY: 25,746.50 (+0.70%)
Nikkei 225: 56,825.70 (-1.13%)
Hang Seng Index: 27,029.00 (+2.33%)
Shanghai Composite Index: 4,082.07 (-1.27%)
Asian markets showed divergence, with Hong Kong rallying sharply while Japan and China indices declined.
AXISCADES Secures ₹25 Cr HAL Order for LCA Mk1A Avionics
AXISCADES Technologies Limited, through its subsidiary Mistral Solutions Pvt. Ltd., has secured a production order worth approximately ₹25 crore from Hindustan Aeronautics Limited (HAL).
Key Details:
Scope: Supply of Single Board Computers for the HAL Tejas Mk1A program.
Manufacturing Location: Devanahalli Atmanirbhar Complex (DAL) at Bangalore Aerospace Park near Kempegowda International Airport.
Strategic Impact: Strengthens indigenous avionics capabilities under the ‘Make in India’ framework.
The order reinforces AXISCADES’ positioning as a chip-to-product engineering partner across aerospace, defence, semiconductor, and AI domains.
Dee Development Engineers Bags ₹173 Cr in Fresh Orders
Dee Development Engineers Limited announced new contracts aggregating ₹173 crore, bolstering its order book in critical piping solutions.
Parent Company Orders – ₹88 Crore
₹26 crore LOI from Bharat Heavy Electricals Limited (BHEL) for manufacturing headers and vessels on a job work basis (delivery within one year).
Over ₹42 crore in LOIs from a joint venture of Indian and foreign power sector conglomerates for critical piping solutions.
Subsidiary Orders – Thailand Arm
DEE Piping Systems (Thailand) Co., Ltd. secured:
US$ 8 million contract for HRSG piping for 11 units (delivery by December 2028).
US$ 1.5 million contract for pipe fittings and flanges for 7 units (delivery by December 2027).
The diversified order inflow signals strong demand visibility in domestic and international power and industrial projects.
AU Small Finance Bank Clarifies Haryana Govt De-Empanelment Issue
AU Small Finance Bank addressed media reports regarding its de-empanelment by the Haryana Government for government business.
Clarification Highlights:
Accounts were opened following proper KYC norms.
Initial review indicates ₹72 crore was credited to a government account from two private banks.
₹47 crore was subsequently transferred to a customer account via 14 authorized transactions.
No fraud or financial loss has been identified for AU Bank.
Government account closed on January 15, 2026.
Haryana government deposits reduced from ₹735 crore to ₹538 crore post de-empanelment — representing only 0.4% of total deposits.
The bank confirmed it is engaging with the Haryana Government for potential re-empanelment.
