Finvezto Market Bytes, 05 Feb 2025
Welcome to Finvezto Market Bytes. We cover the most important stock news every market day in a bite-sized format. No Noise. No Ads. Only Signals.
NEW ORDERS & PROJECTS
🟢 L&T's Minerals & Metals division secured major order (₹5,000-10,000 Cr) from MENA steel producer to build Pellet Plant and Direct Reduction Iron Plant with design-build scope.
🟢 RVNL secured ₹404 Cr road doubling project from East Coast Railway with 30-month completion timeline.
🟢 Welspun New Energy signed pact for 1,200 MW pumped hydro and 1,000 MW floating solar projects worth ₹13,500 Cr in Odisha.
🟢 Australian Premium Solar (India) received ₹25.45 Cr order for 540W Mono Crystalline DCR Solar PV Modules from undisclosed domestic client, to be delivered by June 2025.
🟢 Kilburn Engineering secured fresh orders worth ₹31.18 Cr for Rotary Calciner (₹10.62 Cr), Heat Exchangers (₹1.25 Cr), Tea Drying Equipment (₹13.23 Cr), and Spares (₹6.08 Cr).
🟢 NACDAC Infrastructure secured ₹12.20 Cr contract from NBCC India for construction of staff quarters at Mohkampur, Dehradun.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Sun Pharma and Philogen announce successful completion of Phase III FIBROSARC trial enrollment for Soft Tissue Sarcoma treatment.
🟢 CL Educate completed acquisition of NSEIT's Digital Exam Assessment business for ₹230 Cr plus ₹75 Cr performance-linked earn-out.
CORE BUSINESS
🟢 Adani Ports handled highest-ever monthly cargo volume of 39.9 MMT in January, with 32% YoY growth in container volumes.
🟢 Alkem launched Kojiglo serum with Duo-Lipo technology in India for facial hyperpigmentation, expanding its skincare portfolio where Kojiglo is already the #1 prescribed brand.
🟢 Simpliwork Offices leases 1.5 lakh sq ft workspace from Embassy REIT in Bengaluru.
🟢 Ujjivan Small Finance Bank applies for universal banking license.
REGULATORY
🔴 Hero MotoCorp received GST demand notice of ₹456 Cr from Rajasthan authorities.
🔴 ICICI Prudential Life received ₹492 Cr GST demand notice from Maharashtra authorities for July 2017-July 2022 period.
🔴 Torrent Power gets GST demand of ₹23.11 Cr including interest & penalty.
🟢 Zomato: GST Authorities dropped ₹11.8 Cr tax demand.
KEY COMPANY RESULTS FROM YESTERDAY (Q3 FY25)
ECONOMY
🔴 Indian Rupee INR recovers from all-time low of 87.18 per Dollar, closes at 87.08.
🟢 Gold touches fresh peak of ₹85,800 per 10 grams, while silver declines ₹500 to ₹95,500 per kg.
🔴 US President Trump imposes new tariffs on China but pauses implementation for Canada and Mexico for 30 days.
🔴 China imposes retaliatory tariffs of 15% on US coal and LNG, 10% on crude oil and vehicles.
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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.