Finvezto Daily Market Bytes, 30 Dec 2024
Here’s a quick market snapshot. GIFT Nifty indicates a flat start for the Indian Markets.
Key Stock Updates
New Orders:
🟢 IL&FS Engineering secured ₹302.82 Cr project from Ceigall India for Bhubaneswar Metro Phase-1 construction
🟢 Aerpace Industries received ₹97.5 Cr order to supply tech smart solar panels for renewable energy initiative
🟢 Newgen Software signed ₹24 Cr agreement with Aye Finance for loan origination solution
Partnerships/Investments/Acquisitions:
🟢 Hero MotoCorp extended Harley-Davidson partnership to expand X440 into new variants and develop new motorcycle
🟢 JSW Neo Energy acquired renewable energy platform from 02 Power for ₹12,468 Cr with 4,696 MW capacity
🟢 Reliance Strategic Business invested ₹375 Cr in Karkinos Healthcare to expand health services portfolio
🟢 Gujarat Alkalies partnered with Aditya Birla Renewable for 62.7 MW hybrid power project
Core Business Updates:
🟢 Zota Healthcare received product registration licenses for Zotamet-1000 and CDTEL-40 in Kyrgyzstan
🟢 Greenply Industries resumed MDF plant operations in Gujarat
🟢 Adani Green Energy commissioned 62.4 MW wind and 112.5 MW solar power projects at Khavda, Gujarat
🔴 Alkyl Amines reported tank rupture at Maharashtra plant, causing temporary disruption in operations
🔴 Gujarat Fluorochemicals reported incident at CMS-1 plant affecting 4 individuals, temporary disruption in operations
🔴 Utkarsh Small Finance Bank approved sale of ₹355 Cr NPAs at ₹52 Cr to ARC
🔴 Zydus Life and Sterling Biotech extended API business purchase deadline to March
🔴 Max Financial's Axis Max Life to discontinue Max Life PFM pension fund operations
🔴 Zydus Wellness Products received ₹56.33 Cr GST demand from Surat authority
Corporate Actions:
🔴 AstraZeneca India laid off over 125 employees from biopharmaceutical business unit
🟢 IOL Chemicals board approved 1:5 stock split
🟢 HSBC released pledge on 1,572 Cr shares of Vodafone Idea, representing 22.56% equity
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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.