Welspun Corp Surges 14% on Record $1.8 Billion Export Contract as Walmart Tumbles 9% After Earnings

Welspun Corp was the standout mover in Indian markets on August 21, 2026, surging 14% intraday after winning its largest-ever single export contract, worth approximately $1.8 billion (roughly 17,200 crore rupees), to supply US-manufactured pipes. The deal pushed Welspun's total global order book to a record 42,100 crore rupees. JBM Auto climbed 5.7% on six times its average daily volume after reports that Bain Capital is in advanced talks to acquire a minority stake in its electric vehicle division for up to 2,850 crore rupees.

Defense electronics firm Data Patterns rose 5.0% after securing a 585.76 crore rupee radar supply order from Bharat Electronics, lifting its total pipeline orders past 3,425 crore rupees. Bharat Electronics itself edged up 1.2% alongside broader defense sector gains. Sugar stocks fell broadly after the Indian government approved 10 lakh tonnes of duty-free raw sugar imports through October 31 and imposed strict 15-day stockholding limits on major industrial consumers, with Balrampur Chini Mills dropping 2.88% and Shree Renuka Sugars falling 2.76%.

Colgate-Palmolive India slipped 1.1% after MD and CEO Prabha Narasimhan announced her resignation effective September 27, 2026, to take an EVP Marketing role covering Asia-Pacific; Manish Anandani was named her successor for a five-year term. In US markets, Walmart fell 9.15% following mixed analyst reactions to its second-quarter earnings and share buyback update, while Target gained 3.30% after raising its full-year sales outlook on resilient consumer traffic. Estee Lauder surged 14% on stronger-than-projected annual profit forecasts and improving Asian distribution trends.

FTAI Aviation dropped 6.21% despite announcing a new $2 billion warehouse credit facility for aircraft acquisitions.