Finvezto Daily Market Bytes, 10 Jan 2025
Welcome to Finvezto Bytes, your daily dose of essential Indian stock market news. Get key updates in bite-sized format—everything that matters, nothing that doesn't.
In today’s edition, we cover:
IHCL’s Bold Plan
Chemical Giants Surge
Quick Commerce Wrap
Key Stock Updates
IHCL’s Bold Plan
IHCL (Indian Hotels) plans to reach 700 hotels and double its revenue to ₹15000 Cr by 2030.
The Tata Group company flexed its muscles in 2024 with 85 new hotel signings and 40 openings. It is in an expansion spree.
The iconic Taj brand leads this charge with 19 new signings across metros, pilgrim spots, and international markets.
Their current portfolio stands at 360 hotels, including 237 operational properties.
Chemical Giants Surge
US gas distributors announcement of a 200% hike in refrigerant gas (R32) prices sends chemical sector stocks soaring.
SRF & Navin Fluorine stocks shot up post the news. SRF has a commanding 30,000 tonne R32 production capacity and Navin Fluorine about 4000 tonne.
For every dollar increase in R32 prices, SRF could see its operating income rise by ₹260 crore.
Navin Fluorine anticipates a ₹77 crore boost from February 2025 as it doubles its capacity.
Quick Commerce Wrap
A lot is happening in the Q-Comm space…
Blinkit launches 10-minute delivery for laptops and monitors.
Swiggy unveils plans to launch a standalone app for Instamart. Instamart will also continue to remain inside the main Swiggy App. Instamart will soon be available in 70+ cities in India. In the coming years, Instamart is expected to beat Food Delivery Revenues.
NRAI (National Restaurants Association of India) launches legal action against Zomato and Swiggy's private labels Blinkit Bistro and Snacc.
This reflects larger tensions in India's digital food delivery space where platform providers increasingly compete with their own partners.
Key Stock Updates
NEW ORDERS
🟢 Surya Roshni secured ₹81.5 Cr order from BPCL for City Gas Distribution project pan-India.
PARTNERSHIPS/ACQUISITIONS
🟢 TCS acquires two Tata Realty subsidiaries for ₹1,625 Cr to establish Bengaluru delivery centers.
CORE BUSINESS UPDATES
🔴 TCS Q3 net profit grew 3.9% QoQ to ₹12,380 Cr, missing estimates amid reduced US/UK spending.
🔴 TCS headcount dropped by 5,370 in Q3, attrition rose to 13%.
🔴 Tata Motors' JLR Q3 wholesales up 1% to 101,043 units, retail sales down 3%.
🔴 Indian Overseas Bank to sell ₹11,500 Cr NPAs through e-auction.
🟢 Polyplex to invest ₹558 Cr for BOPET film manufacturing plant in India.
🟢 SAIL supplied 45,000 tonnes of steel for Mahakumbh Mela in Prayagraj, including plates, angles and joists.
🟢 GAIL raises APM gas allocation to Adani Total Gas by 20% and Mahanagar Gas by 26%.
🟢 SRF surged 13.7%, Navin Fluorine up 9.6% on US refrigerant gas price hike.
🟢 Manappuram Finance rose 5% after RBI lifts Asirvad restrictions.
INDIAN ECONOMY
🔴 Rupee hit record low of 85.93 against 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.