Finvezto Daily Market Bytes, 08 Jan 2025
In today’s edition, we cover:
Microsoft’s India AI Push
Tata Expands iPhone Manufacturing
India GDP Growth Outlook for FY25
Key Stock Updates
Microsoft’s India AI Push
Microsoft announces $3 billion investment to strengthen India's cloud and AI infrastructure over the next two years.
The investment includes building new data centers across India, expanding Azure and partnering with Jio for enhanced computing capabilities.
Microsoft aims to train one crore Indians in AI skills by 2030.
Tata Expands iPhone Manufacturing
Tata Electronics (TEL) receives regulatory approval to acquire majority stake in Pegatron India, expanding its iPhone manufacturing capacity.
The acquisition is another milestone in Tata's growing electronics manufacturing presence in India.
This follows Tata's $125 million acquisition of Wistron's iPhone plant in Bengaluru during Nov 2023.
Pegatron India currently manufactures smartphones for Apple, exporting products to North America, Asia, and Europe markets.
India GDP Growth Outlook for FY25
Indian economy projected to grow at 6.4% in FY25 - the slowest expansion since 2021.
The Central Statistics Office, on Tuesday, released first advance estimates ahead of Union Budget,
The current projection is a significant decline from FY24 growth of 8.2%.
Key Stock Updates
NEW ORDERS:
🟢 CRI Pumps won ₹754 Cr contract from Maharashtra for solar pumping systems and IoT-enabled smart pumps.
🟢 Larsen & Toubro secured power transmission orders worth between ₹2,500-5,000 Cr for various projects across locations.
🟢 Hartek Group secured ₹117 Cr project from Power Grid for 765kV AIS substation extension in Gujarat.
🟢 CESC awarded Purvah Green Power contract for 150 MW Wind-Solar Hybrid Project.
PARTNERSHIPS & INVESTMENTS:
🟢 Microsoft announced $3 billion investment in India over 2 years for AI infrastructure and data centers.
🟢 Tata Technologies signed MoU with Telechips to develop next-generation software-defined vehicle solutions.
🟢 WPIL's European arm acquired 100% stake in MISA Italy to expand large pump supply business.
🟢 Exicom Tele-Systems partnered with Mufin Green Infra to develop EV charging infrastructure across India.
🟢 RVNL signed MoU with Dubai's GBH International to explore civil infrastructure opportunities in GCC countries.
🟢 Indian Hotels partnered to bring 100-room Gateway hotel to Dehradun with Mohammed Ilyas.
CORE BUSINESS
🟢 Tata Steel India's crude steel production grew 6% YoY to 5.68 million tonnes in Q3FY25.
🟢 Wagh Bakri Tea plans ₹100 Cr plant in Gujarat to increase instant tea production.
🔴 MedPlus Health's arm Optival received drug license suspension for Chhattisgarh store.
INDIAN ECONOMY
🟢 India's real GDP expected to grow 6.4% in FY25. Although it suggests expansion, but not at the rate expected at the start of the year.
🟢 Indian rupee closed up 0.1% at 85.7125 against the U.S. dollar, its strongest 1 Day gain since late-November.
🔴 Overall December auto sales declined 12% YoY.
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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.