Finvezto Market Bytes, 06 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.
KEY COMPANY RESULTS FROM YESTERDAY (Q3 FY25)
NEW ORDERS & PROJECTS RECEIVED
🟢 Welspun Enterprises secured ₹291 Cr construction order from BMC for Engineering, Procurement and Construction work.
🟢 Vishnu Prakash R Punglia wins ₹247.55 Cr contract from BHEL for civil and structural works at 1X800 MW NTPC Sipat Project.
🟢 Knowledge Marine secured ₹48.45 Cr order from Dredging Corporation of India for dredging at Deendayal Port using Trailing Suction Hopper Dredger.
🟢 Azad Engineering signs long-term agreement with Rolls-Royce to manufacture aircraft engine parts, expanding aerospace manufacturing portfolio.
🟢 JTL Industries secured 3,000 metric tonnes GI pipe order worth ₹24 Cr from PHE Department Jammu for Jal Jeevan Mission.
🟢 Teerth Gopicon declared L1 bidder for NHPC's ₹20.20 Cr solar park project in UP, involving boundary survey and fencing for 600MW phase-1 development.
🟢 GE Power India secures ₹13.75 Cr (137.5 million) purchase order from NTPC Limited for generator parts supply at Telangana site, to be executed in 40 weeks.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Cyient partnered with Micware Navigations through MoU to develop intelligent mobility solutions for smarter transportation systems.
🟢 Apollo Micro Systems forms consortium with Redon Systems for Landing Module systems procurement, strengthening defense capabilities.
🟢 Poonawalla Fincorp partnered with ServiceNow to implement AI-powered audit and governance solutions, aiming to enhance risk management and streamline internal audits.
CORE BUSINESS
🟢 Caplin received USFDA approval for Procainamide Hydrochloride Injection, a generic version of PRONESTYL with US market size of $20 million, marking their 33rd ANDA approval.
🟢 Ola Electric launches first motorcycle Roadster X with 5 variants, battery packs from 2.5-9.1 kWh, range 252-502 km, priced ₹89,999-₹1,69,999.
🟢 UltraTech Cement commissions 0.6 MTPA additional grinding capacity in West Bengal to meet growing cement demand.
ECONOMY
🔴 India's services PMI drops to 56.5 in January from 59.3 in December. It still remains in the expansion zone though. A number above 50 indicates expansion.
🔴 Rupee hits record low of 87.487 against US dollar, closing at 87.465.
🟢 Gold prices hit all-time high above $2,848 per ounce due to US-China trade tensions and safe-haven demand.
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.