Finvezto Market Bytes, 03 Mar 2025
I share the most important stock market related news I read everyday in a bite-sized format. No Noise. No Ads. Only Signals.
NEW ORDERS & PROJECTS RECEIVED
🟢 NLC India won contract to develop 200 MW wind power project from SJVN through e-reverse auction at a tariff of ₹3.74 per kWh.
🟢 RailTel Corp secured work orders worth ₹26.4 Cr from Cuttack Development Authority and another ₹37.2 Cr from Madhya Pradesh State Electronics Development Corp.
🟢 GE Power secured ₹273.5 Cr contract, adding to their April 2022 main contract valued at ₹863.4 Cr to supply electro-mechanical packages for Francis pump turbine machines.
🟢 Solar Industries India and its subsidiary secured ₹2,150 crore worth of export orders for defence products, to be delivered over six years. The contract, awarded by an international entity, strengthens the company's global presence in the defence sector.
🟢 Vishnu Prakash R Punglia's joint venture VPRPL-SBEL JV secured ₹269.7 Cr contract for Ajmer-Chanderiya doubling project involving civil works, bridge construction, and track laying.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 TCS extends partnership with Norway's DNB Bank for five more years, deploying next-generation technology for modernization initiatives and providing insights on AI and quantum computing.
🟢 Allied Blenders and Distillers (ABD) has acquired an 80% stake in a joint venture with Bollywood actor Ranveer Singh. Mr Singh will serve as the creative and business partner for ABD Maestro, a premium spirits brand.
🟢 City Union Bank partnered with Chennai Super Kings to launch co-branded credit card, expanding their financial products portfolio.
🟢 Aurobindo Pharma approved acquisition of remaining 80% equity in Tergene Biotech, making it a direct subsidiary to strengthen its biotech portfolio.
CORE BUSINESS & REGULATORY
🟢 Aditya Birla Real Estate's subsidiary Birla Estates launched Birla Trimaya Phase III in North Bengaluru, recording ₹500 Cr in bookings within 24 hours with over 300 units sold.
🟢 Acme Solar plans ₹17,000 Cr capex investment in FY26, rolling out capacity expansion in two phases starting April this year.
🟢 PFC signed ₹26,800 Cr financing deal with Madhya Pradesh power utilities to support critical infrastructure projects including solar power plants and thermal units.
🟢 AstraZeneca Pharma India received CDSCO approval to import and distribute Durvalumab (Imfinzi) for treating resectable non-small cell lung cancer. The drug, in 120 mg/2.4 mL and 500 mg/10 mL solutions, will be used in combination with chemotherapy
🔴 Piramal Enterprises received a ₹1,502 crore GST demand notice from Maharashtra tax authorities for its ₹4,487 crore pharma business sale to Piramal Pharma in FY21. The company plans to challenge the order, calling it unjustified.
🔴 Angel One reported security breach in some of its Amazon Web Services resources and hired external forensic partner to investigate the impact.
🔴 Indian Overseas Bank received GST demand of ₹699.5 Cr, including interest and penalty of ₹35.3 Cr, from Chennai Large Taxpayers Unit.
🔴 Medplus Health's subsidiary Optival Health Solutions received suspension order of drug license for a store in Telangana, affecting operations.
INDIAN ECONOMY
🟢 GST collections in February 2025 rose 9.1% to ₹1.84 lakh crore. Domestic revenues increased 10.2% to ₹1.42 lakh crore, while import revenues grew 5.4% to ₹41,702 crore. Net GST collections grew 8.1% to ₹1.63 lakh crore after refunds.
🟢 Core sector output rose 4.6% in January 2025, surpassing January 2024's 4.2% growth, driven by cement sector growth of 14.5% and refinery products growth of 8.3%. Six of eight core industries recorded positive growth in January, with coal at 4.6%, fertilisers at 3%, steel at 3.7%, and electricity at 1.3%, showing continued momentum.
🔴 Sugar production drops by 14% with sharp decline in cane availability; NFCSF estimates 2024-25 season production at 265 lakh tonnes, lower than previous estimate of 270 lakh tonnes.
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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This post is purely for learning purposes to understand more about the business. 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.