Finvezto Daily Market Bytes, 12 Dec 2024
Swiggy Launches BLCK; Railway Stocks Surge; Travel Food Services IPO & much more...
In today’s edition, we cover:
Swiggy Launches BLCK
Railway Stocks Surge
Travel Food Services IPO
Toyota Camry India Launch
Coca-Cola HCCBL Stake Sale
VIP <> Instamart Partnership Launch
Key Stock Updates
Here’s a quick market snapshot before we start. GIFT Nifty indicates a flat start for the Indian Markets.
Swiggy Launches BLCK
Swiggy introduces One BLCK, an invite-only premium membership at ₹299 for three months targeting high-convenience seeking customers.
Phani Kishan, Co-Founder, positions One BLCK as a business-class equivalent focusing on speed and personalized care.
The premium service includes unlimited free deliveries with on-time guarantee for food orders and quick commerce.
Members get exclusive access to perks - Amazon Prime, Hotstar, and Cinepolis, plus free drinks or desserts while dining out.
Selected users across India can access this upgrade, including current Swiggy One members.
Railway Stocks Surge
Railway Stocks hit fresh highs. IRCON, IRFC, RVNL and Jupiter Wagons shot up after Cabinet approval for new projects.
Jupiter Wagons topped with 12.72% rise to ₹562, while IRCON gained 5.32% to ₹234.22.
The surge follows Cabinet's approval of 3 multitracking projects worth ₹7,927 crore for Indian Railways. These projects aim to improve connectivity and reduce logistics costs.
Railway Stock sentiment strengthens as usual ahead of Budget.
Travel Food Services IPO
Travel Food Services, operating 397 QSR outlets across airports in India and Malaysia, files for ₹2,000 crore IPO via SEBI.
The IPO is completely an offer-for-sale by Kapur Family Trust, meaning no fresh funds for the company.
Started in 2009, Travel Food Services now operates at 14 Indian airports including Delhi, Mumbai, and Bengaluru, plus three in Malaysia.
The company partners with 117 brands including KFC, Pizza Hut, and Third Wave Coffee, while running its own brands like Caféccino, Curry Kitchen & idli.com.
Their revenue jumped 31% to ₹1,396.32 crore in 2024, with profits reaching ₹298 crore.
Toyota Camry India Launch
Toyota launches Hybrid Camry at ₹48 lakh in India.
The car will roll out from their Bidadi plant in Bengaluru, adding to their local manufacturing strength.
The timing couldn't be better. India's EV & Hybrid market still has a share of only ~5% when it comes to all Vehicles.
That means 95% of the market hasn't switched to greener tech yet. Toyota's eyeing this gap.
Toyota currently has a 32% market share in India's sedan market. Toyota’s other hybrid bet's are already paying off in India. The Hyryder and Hycross have each hit 100,000 sales.
Coca-Cola HCCBL Stake Sale
Coca-Cola sells 40% stake in its Indian bottling arm HCCBL to Jubilant Bhartia Group for ~₹10,000 crore.
HCCBL is Coca-Cola's largest Indian bottler. The company manufactures 60 different products including Thums Up, Sprite, and Maaza.
This aligns with Coca-Cola's global strategy to divest bottling operations, having already franchised operations in Rajasthan, Bihar, and Northeast India.
India stands as Coca-Cola's fifth-largest market globally.
Jubilant Bhartia Group, which operates 3,130 QSR stores across six countries with brands like Domino's and Popeyes, sees this as a strategic addition to their portfolio.
VIP <> Instamart Partnership Launch
VIP Clothing partners with Swiggy Instamart to deliver Frenchie men's innerwear products within 10 minutes through quick commerce platform.
The collaboration makes VIP one of the few innerwear brands available on quick commerce platforms.
Frenchie collections featuring cotton innerwear targets millennial and Gen-Z customers.
Key Stock Updates
New Orders
Dee Development wins international prefabricated pipe spools order worth $16.5 million
BEML bags ₹136 crore High Mobility Vehicles contract from Ministry of Defence; BEML secures another ₹83.51 crore order as well for 50-ton trailer supply from the same Ministry.
Aurionpro wins Saudi bank contract to modernize corporate banking with iCashpro+
Reliance Power subsidiary wins 930 MW solar energy contract with battery storage
Partnerships, Investments & Acquisitions
Tata Power Renewable Energy partners with Tivolt for commercial EV charging
Godawari Power signs seven-year RLNG supply agreement with GAIL India
One Point One Solutions partners with Everest Fleet for driver recruitment
Airtel collaborates with Glance to launch AI-powered smart TV platform
Core Business Updates
UGRO Capital receives patent for GRO Score MSME credit system
Happiest Minds Arttha platform expands digital lending across emerging markets
Cipla receives CDSCO approval for Afrezza inhalation insulin in India
Gland Pharma obtains US FDA approval for Phytonadione Injectable Emulsion
Ami Organics approves ₹177 crore capex for electrolytes additives facility
Corporate Actions
Sammaan Capital board authorizes ₹2,500 crore fundraising through QIP
PC Jeweller to issue ₹1,509.97 crore preferential shares to lenders
Embassy REIT approves ₹1,000 crore non-convertible debentures issuance
Grasim Industries sanctions ₹2,000 crore NCD issuance through private placement
Indian Overseas Bank receives ₹808 crore income tax refund
Shriram Finance sells 84.44% stake in housing subsidiary for ₹3,929 crore
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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.