Finvezto Daily Market Bytes, 13 Jan 2025
Welcome to Finvezto Bytes, your daily dose of essential Indian stock market news. Everything that matters, nothing that doesn't.
New Orders & Projects
🟢 Interarch secured a ₹221 Cr order from Tata Projects for semiconductor and lithium-ion battery sector manufacturing.
🟢 Oberoi Realty has secured a significant appointment as the developer for a slum rehabilitation scheme at Bandra Reclamation, Mumbai. Oberoi Realty will be entitled to a free sale component of approximately 3.2 lakh square feet (RERA Carpet area) from the development and redevelopment of the land.
Partnerships/Investments/Acquisitions
🟢 Waaree Energies will acquire 100% stake in Enel Green Power India (EGPIPL) for ₹792 Cr from Enel Green Power Development. EGPIPL operates solar and wind projects with a net capacity of about 640 MWAC (760 MWDC).
🟢 JSW Neo Energy completed acquisition of 125 MW Renewable Energy assets from Hetero Group for ₹630 Cr.
🟢 Signature Global to acquire 16.12 acres land in Gurugram with 2.73 million square feet development potential.
🟢 Poly Medicure forms JV with AMPIN C&I Power for solar project in Haryana, holding 26% stake in venture. The solar power project will serve as a captive generating plant to supply power to Poly Medicure’s manufacturing facilities in Haryana.
🟢 360 One Wam gets SEBI approval to acquire Moneygoals Solutions from Times Internet.
Core Business Updates
🟢 Sarda Energy successfully synchronizes 24.9 MW Rehar Small Hydro Project with grid.
🔴 US FDA classifies Biocon Biologics' Johor Bahru site in Malaysia as Voluntary Action Indicated.
🟢 Electronics Mart India Limited has launched a new multi-brand store under the brand name “ELECTRONICS MART” in New Delhi. It currently operates 192 stores across Telangana, Andhra Pradesh, and Delhi NCR.
🟢 Hindustan Unilever incorporates new arm Kwality Wall's for ice cream business demerger.
🟢 Rail Vikas Nigam Limited (RVNL) has successfully registered its new branch office with the Rwanda Development Board, expanding its international presence in Africa.
🔴 Ola Electric receives additional information request from Central Consumer Protection Authority seeking additional information following 10,644 consumer complaints. The company has six weeks to respond following a Karnataka High Court extension.
Corporate Actions & Regulatory Updates
🟢 ICICI Lombard secures ₹175 Cr relief in income tax dispute.
🟢 Bombay Burmah Trading Corporation reaches settlement with SEBI over alleged securities law violations with Wadia family.
🔴 Infosys files counterclaim against Cognizant alleging anti-competitive practices and Helix platform misuse.
IPOs & Fund Raising:
🟢 Standard Glass Lining shares to debut on stock exchanges today.
🟢 Ather Energy targets $2.4 billion valuation for IPO, plans to file DRHP by early February.
Indian Economy
🔴 Microfinance sector portfolio contracted from ₹4.43 lakh Cr in March 2024 to ₹3.93 lakh Cr by November 2024 due to slow disbursals. India Ratings has revised the sector outlook to “deteriorating” from “neutral”.
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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.