Finvezto Daily Market Bytes, 09 Jan 2025
In today’s edition, we cover:
Mahindra's EV Plant
SEBI Clears 4 Major IPOs
EV Charging Players Unite
Key Stock Updates
Mahindra's new EV Plant
Mahindra & Mahindra unveils an automated battery assembly facility in Chakan (Pune), integrating 500 robots and IoT systems as part of their ₹16,000 crore investment strategy.
What is special about this plant?
The 700 acre facility features a state-of-the-art IoT-based “Nerve Center”. It provides real-time process insights and end-to-end traceability, enabling Mahindra to monitor and optimize every aspect of the manufacturing process.
The plant will manufacture 5,000 monthly units of the new Mahindra BE6 and XEV 9e models.
SEBI Clears 4 Major IPOs
SEBI approves IPOs of Casagrand Premier Builder, Dr Agarwal's Health Care, Regreen Excel EPC, and Highway Infrastructure Ltd.
Casagrand, the Chennai based Real Estate developer's offering combines a ₹1,000 crore fresh issue with a ₹100 crore offer for sale.
Dr Agarwal's healthcare (eye care) plans a ₹300 crore fresh issue alongside selling of 6.96 crore equity shares by promoters and shareholders.
EV Charging Players Unite
Exicom and Mufin Green come together to make EV charging more accessible nationwide.
Exicom has installed 70,000 chargers globally. Now, along with Mufin it plans to increase presence in India.
Exicom will handle the manufacturing and software side, while Mufin takes charge of installation and operations across the country.
The partnership creates complete solutions packages - combining hardware, software, and operations - targeting everyone from bus operators to state utilities.
Key Stock Updates
NEW ORDERS:
🟢 Afcons Infrastructure secured a ₹1,084.5 Cr infrastructure project from DRDO for engineering, procurement, and construction work.
🟢 Advait Infratech received letter from Gujarat Urja Vikas Nigam for 50 MW battery energy storage systems setup.
🟢 L&T secured multiple orders worth ₹1,000-2,500 Cr in domestic and international markets, including urea reactors manufacturing.
PARTNERSHIPS/INVESTMENTS/ACQUISITIONS:
🟢 GMR Group secured ₹6,300 Cr investment from Abu Dhabi Investment Authority for debt reduction.
🟢 GMR Airports to acquire shares of Bird Delhi General Aviation Services to strengthen presence in airport business.
🟢 Tata Technologies partnered with Telechips to develop software solutions for next-generation software-defined vehicles.
CORE BUSINESS & REGULATORY
🔴 Tata Motors reported 3% growth in JLR wholesales at 104,427 units while retail sales declined in Q3.
🔴 MOIL received ₹16.8 Cr penalty order from Madhya Pradesh government for excess production at Tirodi Mine.
🔴 India Cements received GST demand of ₹7.1 Cr including fines from Chennai Tax Authority.
🔴 PI Industries gets customs demand order worth ₹82.8 Cr from Maharashtra government.
🟢 RBI removed supervisory restrictions on Asirvad Micro Finance and DMI Finance. Asirvad Micro Finance is a subsidiary of Manappuram.
🟢 Borosil Renewables announced 50% capacity expansion in manufacturing of solar glass to meet growing demand.
🟢 Acme Solar commissioned remaining 90 MW solar projects in Rajasthan.
🟢 BHEL successfully commissioned two units of hydroelectric project in Bhutan.
🟢 Mangalore Refinery entered lease agreement with Indian Strategic Petroleum Reserves for crude oil storage.
🟢 Zen Technologies received patent grant for "T-72 Containerized Crew Gunnery Simulator System."
INDIAN ECONOMY:
🔴 Rupee weakened to record low of 85.87 against US dollar
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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.