Finvezto Daily Market Bytes, 06 Jan 2025
In today’s edition, we cover:
ITC Hotels Demerger Today
HUL <> Minimalist
Brigade Land Deal
Key Stock Updates
ITC Hotels Demerger Today
Stock Exchanges will conduct special trading from 9-10 AM for ITC price discovery.
Parent ITC share price is expected to drop by ~₹25 as hotels unit separates.
ITC Hotels share price might be between ₹150-200.
ITC Hotels shares won’t be immediately available for trading.
The official listing of ITC Hotels will happen in a few weeks (mid February) after which you can buy/sell it.
The Exchanges will create a dummy ticker and include it as the 51st Nifty stock and 31st Sensex stock.
HUL <> Minimalist
Hindustan Unilever eyes skincare startup Minimalist in ₹3,000 crore acquisition talks.
So what is in it for HUL?
Minimalist (Jaipur-based) offers AI-powered skin solutions, serums, and moisturizers since its founding in 2018.
HUL aims to strengthen its presence in hair and face serums, a segment currently lacking in its portfolio.
Minimalist grew revenue by 89% to ₹350 crore in FY24, with profits doubling to ₹11 crore.
Founded in 2018, Minimalist raised $15 million from Sequoia Capital India and Unilever Ventures in 2021.
HUL plans to take the brand offline and scale it up.
Brigade Land Deal
Brigade acquires 20-acre Whitefield land for upcoming ₹2,700 crore residential development.
The land costs ₹630 crore and Brigade is planning for 2.5 million sq feet project.
This is part of Brigade’s expansion across South India with 12.61 million sq feet pipeline.
What makes this location special?
Whitefield-Hoskote road area is emerging as prime residential corridor in Bengaluru.
Key Stock Updates
New Orders
🟢 DCX Systems secured ₹483 Cr export order from Israel's ELTA Systems for manufacturing close-in weapon system modules.
🟢 NTPC Green Energy won 1,000 MW solar power project from UPPCL at tariff of ₹2.56 per kWh.
🟢 KNR Construction received work order worth ₹198 Cr from NHAI for infrastructure project.
🟢 Deep Industries won ₹90.70 Cr order from ONGC for 7-year charter hiring of workover rig for Assam Asset.
Partnerships/Investments/Acquisitions
🟢 Brigade Enterprises signed agreement for 20-acre Bengaluru land parcel to develop 2.5 million sq ft residential project worth ₹2,700 Cr.
🟢 Nazara Technology acquired 35.07% stake in Moonshine Technology for ₹820 Cr. PokerBaazi, Moonshine’s flagship product, is India’s largest online poker platform, driving over 85% of Moonshine’s net revenue.
🟢 JSW Infra signed concession agreement with Railways for container train operator license.
🟢 Hindustan Foods Limited has acquired MMG Enterprises’ bottled water manufacturing facility in Odisha for ₹29.5 crore.
Core Business Updates
🟢 Vedanta's aluminium production increased 3% YoY to 614 KT with strong performance across segments in Q3.
🟢 Bajaj Housing Finance AUM grew 26% YoY to ₹1.08 lakh Cr while loan assets reached ₹95,550 Cr.
🔴 RPG Life Sciences reported fire incident at Navi Mumbai plant with no casualties.
🔴 Andhra Paper's Rajahmundry plant operations disrupted due to workers' strike.
Corporate Actions, Regulatory & Management
🔴 Kotak Mahindra Bank's COO and CTO Milind Nagnur resigns effective February 15.
🔴 Star Cement promoter Laxmi Chamaria sold 50,000 shares.
🔴 Medplus Health promoters created pledge for combined 24.18 lakh shares.
Indian Economy
🟢 Indian Govt will launch another round of PLI Scheme for Steel Sector today.
🟢 FDI in India grew 42% to $42.13 billion during January-September period compared to previous year.
At Finvezto Stock Research, we offer the following services.
Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This daily update highlights market trends for your awareness. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.