Finvezto Daily Market Bytes, 16 Dec 2024
Dixon <> Vivo Partnership; SEBI Retail Algo Trading Framework; Apple’s Shift To India continues; BEML's Bullet Train Plan
In today’s edition, we cover:
Dixon <> Vivo Partnership
SEBI Retail Algo Trading Framework
Apple’s Shift To India continues
BEML's Bullet Train Plan
Key Stock Updates
Here’s a quick market snapshot before we start. GIFT Nifty indicates a lower opening for the Indian Markets.
Dixon <> Vivo Partnership
Dixon Technologies and Vivo India form joint venture for smartphone manufacturing, with Dixon holding 51% stake.
The JV will handle part of Vivo's smartphone production and will manufacture electronic devices for other brands as well.
This follows the trend of Chinese smartphone makers seeking Indian manufacturing partners.
The move aligns with Vivo's earlier commitment to invest ₹7,500 crore in Indian manufacturing operations.
The deal awaits regulatory approvals.
SEBI Retail Algo Trading Framework
Another day, Another Circular, Another SEBI framework.
SEBI proposes regulated access to algorithmic trading for retail investors while mandating strict oversight and permissions.
Every Retail trading algorithm needs exchange approval before retail deployment. It aims to prevent open APIs, with all algorithmic trading systems needing approval through Brokers before execution.
All trading algorithms will need to be approved by exchanges before they can be used. Yes, Retailers need to reveal their algorithms before they can execute it.
The framework aims to tackle growing retail algo demand while prioritizing market integrity. The paper is under public consultation for now.
More details in PDF below.
Apple’s Shift To India continues
Apple plans to start AirPods assembly in India through Foxconn, marking its first such initiative outside China.
A facility near Hyderabad is already conducting trial runs for AirPods production, with full-scale operations set to begin in early 2025.
Apple aims to reduce its manufacturing dependence on China while targeting India's growing consumer base.
Foxconn, Apple’s primary manufacturing partner, has been significantly expanding its footprint in India with over $1.4 billion investment till date.
BEML's Bullet Train Plan
BEML targets to roll out India's first bullet train prototype by December 2026 for the Mumbai-Ahmedabad corridor.
The ₹1.1 lakh crore project represents BEML's first venture into high-speed rail manufacturing, with focus on keeping intellectual property within India.
2 prototypes will be built during this learning phase.
Key Stock Updates
New Orders
HG Infra Engineering arm received ₹862 crore order from NHAI
Astra Microwave JV secured ₹255.88 crore defense order for Su-30 avionics system
AVG Logistics won ₹90 crore cement logistics contract for 3 years
HAL secured ₹13,500 crore contract to manufacture 12 Su-30MKI aircraft
Partnerships/Investments & Acquisitions
Reliance Industries has acquired a 74% equity stake in Navi Mumbai IIA Private Limited (NMIIA) for ₹1,628.03 crore. NMIIA specializes in developing integrated industrial areas (IIA) in Maharashtra.
Nazara Technologies arm Nodwin acquired 100% stake in Trinity Gaming India
Premier Explosives partners with Global Munition to manufacture defense products
ICS partners with Landis+Gyr for energy efficiency solutions
Bharat Forge arm to acquire 25% of Edgelab for €2.5 million
Core Business Updates
PVR Inox opens six-screen multiplex in Dehradun
Ambuja Cements commissions 200 MW solar project in Khavda
One 97 Communications (PayTM) completed sale of Paypay Corp stock rights
Lupin acquires diabetes trademarks from Boehringer Ingelheim International
Legal/Regulatory Updates
Jaiprakash Power gets stay on ₹1,334 crore penalties from Andhra Pradesh High Court
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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.