Finvezto Daily Market Bytes, 27 Dec 2024
In today’s edition, we cover:
Tata's Transformative Year
Jubilant <> Coca Cola
Key Stock Updates
Here’s a quick market snapshot of the markets. GIFT Nifty indicates a positive start for the Indian Market.
Tata's Transformative Year
2024 was truly transformational for the TATA Group.
Here’s some key accomplishments in 2024.
India's first semiconductor fab facility in Gujarat
Electronic assembly line in Karnataka
Automotive assemblies in Tamil Nadu
Air India merged with Vistara.
TCS and Tejas Networks delivered India's first homegrown 4G for BSNL, with 5G waiting in the wings.
Looking ahead, AI drives the next chapter. Tata Motors already uses it to solve EV Range related problems.
2024 also marked the end of an era with Mr Ratan Tata's passing.
Yet his vision lives on. Build for India, scale for the world.
Jubilant <> Coca Cola
Jubilant FoodWorks signs MoU with Coca-Cola India to purchase sparkling beverages portfolio.
Jubilant Foodwords is looking to expand beyond pizza (Dominos) and restaurant chains.
A week back, Coca Cola announced selling 40% stake in Hindustan Coca-Cola Holdings to Jubilant Bhartia for ₹10,000 crore.
Jubilant clearly sees beverages as their next frontier.
Key Stock Updates
New Orders:
Gensol Engineering secured ₹897 Cr EPC contract from NTPC Renewable Energy for 225 MW solar projects in Gujarat.
Power Mech Projects received ₹186 Cr order from Jaiprakash Power for field operations and maintenance in Madhya Pradesh.
Partnerships/Investments/Acquisitions:
Dixon Technologies arm signed MoU with Cellecor Gadgets to manufacture refrigerators.
Jubilant FoodWorks signed MoU with Coca-Cola India to buy sparkling beverages portfolio.
Mankind Pharma partnered with Innovent Biologics to launch Sintilimab in India.
Sumitomo Mitsui to infuse ₹3,000 Cr into Indian subsidiary SMFG India Credit.
Abakkus Asset Manager bought 10.7 lakh Aarti Pharma shares for ₹61.5 Cr.
Core Business Updates:
Allcargo Logistics reported 1% YoY growth in LCL volume to 718,000 cubic meters in November.
Acme Solar subsidiary received ₹1,988 Cr term loan for developing 300 MW hybrid project in Rajasthan and Gujarat.
IndusInd Bank put microfinance loans worth ₹1,573 Cr for sale due to asset quality pressures.
Paradeep Phosphates resumed production at ammonia and urea plants after Dec 1 shutdown.
IRCTC faced significant outage in online ticket booking platform, shares dropped over 1%.
Choice International received SEBI approval for setting up mutual fund and AMC.
Indian Economy:
Rupee hits new all-time low of 85.27 against US dollar.
EPFO added 13.41 lakh net members in October, signaling employment growth.
Finance Ministry sees growth outlook bright for H2 but new risks in FY26.
RBI sets up panel to develop framework for ethical use of AI in financial sector.
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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.