Finvezto Market Bytes, 07 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
🟢 Solar Industries' subsidiary EEL secured ₹6,084 Cr defense contract from Ministry of Defence for Area Denial Munition and HEPF rockets for PINAKA system.
🟢 Meson Valves received ₹31.61 Cr ($3.60 million) international order for supply of high-performance critical valves over 3 years.
🟢 HG Infra Engineering (49% share) declared L-1 bidder for New Delhi Railway Station redevelopment worth ₹2,195.68 Cr.
🟢 MTAR Technologies secured orders worth ₹200 Cr, including ₹157.38 Cr from Bloom Energy for clean energy and aerospace.
🟢 RailTel Corporation received ₹49.67 Cr order from North Frontier Railway for video surveillance system at 340 stations.
🟢 Sathlokhar Synergys won ₹40.05 Cr EPC contract from Muthiah Beverage for Reliance Campa Cola facility construction in Mysuru.
🟢 Yash Highvoltage won ₹11.46 Cr order from WBSETCL for design and supply of advanced RIP/RIS bushings for power transformers.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 ITC entered definitive agreement to acquire Ample Foods and Meat and Spice, expanding their food business portfolio.
🟢 Indus Towers board approved acquisition of 16,100 telecom towers from Bharti Airtel and Bharti Hexacom for ₹3,309 Cr through slump sale.
🟢 Vakrangee partnered with Tata AIG to distribute general insurance products through their network.
CORE BUSINESS
🟢 Dr Reddy's subsidiary secured commercialization rights for Shanghai Henlius' Daratumumab in US for $131.6 million, strengthening their cancer drug portfolio.
🟢 Biocon and Equillium announced positive results from Phase 2 study of Itolizumab for treating moderate to severe Ulcerative Colitis.
🟢 KRBL launched sub-brand "India Gate Uplife" under flagship brand "India Gate" focusing on multi-source edible oil.
CORPORATE ACTIONS
🟢 Zomato approved company name change to Eternal Ltd, while brand and app names remain unchanged.
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.