Finvezto Daily Market Bytes, 10 Dec 2024
Defense Orders Boost BEL; Air India Expands Fleet; Hyundai’s EV Charging Expansion & much more...
In today’s edition, we cover:
Defense Orders Boost BEL
Air India Expands Fleet
Hyundai’s EV Charging Expansion
India Textile Export Prospects Brighten
FMCG Stocks Face Pressure
New RBI Governor Appointed
Railway Safety Tech
Zaggle’s Card Deals
Key Stock Updates
Here’s a quick market snapshot before we start. GIFT Nifty indicates a flat start for the Indian Markets.
Defense Orders Boost BEL
Bharat Electronics secured ₹634 crore orders for Akash missile maintenance EVMs jammers and telescopic gun sights.
Total order book of BEL reaches ₹8,828 crore for FY25 showing strong demand across defense & electronics.
BEL continues expanding its portfolio in radar systems missile launchers and avionics for armed forces.
Air India Expands Fleet
Air India orders additional 100 Airbus aircraft including 10 A350s and 90 A320 family jets beyond 2023's 470 aircraft deal.
The airline becomes first Indian carrier to operate A350s launching non-stop flights from Delhi to London and New York.
Airbus will provide maintenance support through Flight Hour Services-Component program optimizing A350 fleet reliability.
This order takes Air India's total Airbus purchases to 350 aircrafts showcasing Air India’s commitment to Vihaan AI transformation plan.
Hyundai’s EV Charging Expansion
Hyundai plans installation of 600 public EV charging stations across India over seven years starting with 50 stations in 2024.
Company partners with Tamil Nadu government to set up 100 charging stations by 2027 targeting key highways and cities.
Hyundai's existing network facilitated 50,000 charging sessions delivering 730,000 energy units to 10,000 EV customers.
India Textile Export Prospects Brighten
Indian textile stocks surge as exports reach $1.83 billion in October rising 12% amid Bangladesh unrest.
Welspun Living, Himatsingka Seide, Gokuldas Exports shares jumped 6-8% yesterday.
Apparel exports grow 35% year-on-year in October as global buyers shift orders from Bangladesh to India.
FMCG Stocks Face Pressure
Godrej Consumer shares drop 10% to ₹1,120 after company warns of subdued demand affecting soaps and insecticide segments.
Delayed winter in North India and cyclone in the South impacted home insecticide sales affecting 1/3rd of Godrej Consumer’s business.
Palm oil prices also surged 20-30% forcing FMCG companies to increase product prices, reduce pack sizes and cut trade schemes.
Major FMCG stocks follow downward trend with HUL falling 3.63% to ₹2,394, Nestle dropping 2% to ₹2,221 and Dabur sliding 3.5%.
New RBI Governor Appointed
Revenue Secretary Sanjay Malhotra named RBI Governor for three-year term replacing Shaktikanta Das who completes tenure.
IIT Kanpur graduate and Princeton alumni takes charge amid rising inflation at 6.2% and slowing GDP growth at 5.4%.
Railway Safety Tech
Kernex Microsystems wins ₹2,041 crore contract to supply 2,500 KAVACH train collision prevention systems to Railways.
The company's stock jumped 5% to ₹1,194.75 following announcement of this year-long railway safety equipment contract.
KAVACH system automatically prevents train collisions making it crucial for Indian Railways modernization program.
Kernex brings 33 years experience in railway safety systems becoming RDSO-approved vendor for this critical technology.
The contract strengthens company's leadership in transportation safety showing government's focus on rail network upgrades.
Railway Safety Lights Launch
MIC Electronics introduces emergency lighting system for Vande Bharat trains targeting power outage safety concerns.
The system features automatic activation LED illumination and extended backup power meeting critical safety requirements.
The emergency units aim to enhance evacuation procedures and operational continuity during blackouts in train operations.
Zaggle’s Card Deals
Zaggle Prepaid shares hit 5% upper circuit at ₹550.75 after signing three-year credit card agreement with HDFC Bank.
Zaggle also announces seven-year strategic partnership with Mastercard for SaaS platform and payment solutions distribution.
Zaggle’s share price has increased 126% rise in last 12 months.
Key Stock Updates
New Orders
VPRPL wins ₹102.93 crore railway contract for Ajmer-Chanderiya track doubling project.
Welspun receives ₹7,000 crore USA pipeline orders spanning FY25-26.
Teerth Gopicon bags ₹236.81 crore Rajasthan rooftop solar project.
Mason Infratech wins ₹50.61 crore order from Equinox India.
BEL receives ₹634 crore orders for Akash missile and communication equipment.
APS secures ₹36.44 crore orders for solar panels and inverters.
Waaree Energies secures 1 GW solar module supply order in India.
Partnerships, Investments & Acquisitions
Narayana Hrudayalaya invests $1.5 million in Cayman Integrated Healthcare subsidiary.
Suven Pharmaceuticals buys 56% stake in NJ Bio for $64.4 million.
Metropolis Healthcare acquires Core Diagnostics for ₹246.8 crore.
Core Business Updates
JSW Steel reports 5% growth in crude steel production at 23.23 lakh tonnes.
Hyundai Motor India plans nationwide installation of 600 EV fast chargers.
Airtel blocks 8 billion spam calls through AI-driven solution.
TVS Motor expands electric portfolio with iQube 2.2 kWh launch in Sri Lanka.
Supriya receives Esketamine approval and Atorvastatin patent for global markets.
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.