Finvezto Daily Market Bytes, 14 Jan 2025
Welcome to Finvezto Bytes. We cover the most important news related to Indian Stocks. Everything that matters, nothing that doesn't.
New Orders & Projects:
🟢 Bharat Electronics secured orders worth ₹561 Cr for communication equipment, electro-optics, satcom network upgrades, radar and fire control systems. This brings its total order inflow for FY25 to ₹10,362 crore.
🟢 ITI bagged orders worth ₹64 Cr including ₹35 Cr Wi-Fi and LAN services from Sambalpur University and ₹29.14 Cr integrated security system from Central Railway.
🟢 Bajel Projects received work order from Adani Energy for transmission line construction.
🟢 NBCC secured project worth ₹3,500 Cr for possession, planning and development of 50 acres in Lucknow.
🟢 GR Infraprojects emerged as L-1 bidder for ₹1,947 Cr Pune Ring Road Project.
🟢 Afcons Infrastructure emerged as lowest bidder for ₹4,787 Cr Pune road construction project to be completed in 36 months.
Partnerships/Investments & Acquisitions:
🟢 Piramal Enterprises to receive estimated $140 million upon completion of Life Healthcare's sale of life molecular imaging.
🟢 JSW Energy to acquire KSK Mahanadi Power Company Limited (KMPCL), which owns a 3,600 MW thermal power plant in Chhattisgarh. Post-acquisition, JSW Energy’s total locked-in thermal generation capacity will increase to 7.5 GW.
Core Business:
🟢 Hindustan Petroleum Corporation Limited (HPCL) has successfully commissioned its 5 million tonnes per annum (MMTPA) LNG regasification terminal at Chhara, Gujarat. The terminal, set up by HPCL’s wholly-owned subsidiary HPCL LNG Limited, represents an investment of approximately ₹4,750 crore. The Chhara LNG terminal marks HPCL’s entry into the natural gas business and is India’s eighth LNG import facility.
Regulatory:
🟢 Quess Corp received income tax refund of ₹74 Cr including interest for assessment year 2018-19.
Indian Economy:
🟢 India’s Retail inflation, as measured by the Consumer Price Index (CPI), eased to a 4-month low of 5.22% in December 2024, down from 5.48% in November 2024. This decline was primarily driven by moderating food prices.
🟢 India’s FY 25 Net direct tax collections reached ₹16.89 lakh Cr as on January 12, 2025, showing strong 15.88% growth year-on-year.
🔴 The Indian Rupee hit a new record low on Monday. It settled at 86.62 against the US dollar, a significant drop of 58 paise. This is the steepest single-day INR fall in nearly 2 years.
🔴 India’s iron ore exports have experienced a significant decline in the first nine months of fiscal year 2025 (9MFY25), dropping by nearly 30% compared to the same period last year. This downturn is primarily attributed to weaker demand from China, which remains the largest buyer of Indian iron ore.
🔴 The Life Insurance industry in India experienced a significant downturn in December 2024, with new business premiums dropping by 22% year-on-year. This decline could be due to uncertainty surrounding potential GST rate cuts on insurance products.
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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.