Finvezto Market Bytes, 17 Jan 2025
Welcome to Finvezto Bytes. We cover the most important business & economy related news every day in a bite-sized format. No Noise. No Ads. Only Signals.
NEW ORDERS & PROJECTS
🟢 HFCL secured ₹2,501 Cr order from BSNL for BharatNet Phase III middle-mile network in Punjab, with 3-year completion timeline.
🟢 Bharat Dynamics received ₹2,960 Cr deal from Defence Ministry for medium-range surface-to-air missiles for Indian Naval ships.
🟢 Garuda Construction won ₹1,087.34 Cr order for Gorakhpur Convention Centre, adding to existing order book of ₹2,830 Cr.
🟢 AIA Engineering’s UAE subsidiary, Vega Industries, plans to invest $50 million to establish manufacturing facilities in China and Ghana, enhancing its global footprint and production capabilities in the mining and cement sectors.
🟢 SAIL delivered 4,000 tonnes of DMR 249A grade special steel for the INS Nilgiri, commissioned recently. The steel was sourced from its Bokaro, Bhilai, and Rourkela plants.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 BPCL has signed a ₹31,802 crore loan agreement with a consortium led by SBI to finance the expansion of its Bina refinery and a new petrochemical project, to increase its production capacity and operational efficiency.
🟢 Jio Platforms has partnered with Polygon Labs to integrate Web3 capabilities into its services with over 450 million users. This collaboration aims to improve privacy, data control, and blockchain solutions across Jio’s applications.
🟢 Following its $20 million investment in August 2024, Amazon is now finalizing the acquisition of Axio (formerly Capital Float) for $150-175 million, strengthening its Buy Now Pay Later services in India through Amazon Pay.
🟢 Sun Pharma’s subsidiary Taro Pharmaceuticals will acquire 100% stake in Antibe Therapeutics, a Canadian clinical-stage biotech company specializing in pain and inflammation drugs. The deal will complete by March 7, 2025
CORE BUSINESS
🟢 Reliance Industries reported Q3FY25 net profit of Rs 21,930 crore, up 11.7% YoY, while revenue grew 7.7% YoY to Rs 2.67 lakh crore. Strong performance in Jio (profit up 26%) and retail (profit up 10%) drove growth
🟢 Infosys reported Q3FY25 net profit of Rs 6,806 crore, up 11% YoY, while revenue grew 8% YoY to Rs 41,764 crore. The company revised its FY25 revenue guidance upward to 4.5-5% in constant currency term
🟢 Delhivery launched ‘Rapid Commerce’ in Bengaluru on January 16, 2025, offering sub-2-hour delivery services through shared dark stores. The service caters to D2C brands, retailers, and e-commerce platforms.
🟢 AIA Engineering commenced commercial production at its new rubber and composite liners plant at GIDC Estate, Kerala, Ahmedabad on January 16, 2025. The Rs 650 million facility has a capacity of 20,000 MT per annum
🟢 Spencer's Retail enters quick commerce, launching operations in West Bengal through existing outlets.
REGULATORY
🔴 SEBI barred Pacheli Industrial Finance and six entities from markets after its stock surged from Rs 21 to Rs 78 in a month. The company’s market cap jumped to Rs 4,000 crore despite negligible revenues, with PE ratio reaching 400,000.
INDIAN ECONOMY
🔴 Rupee weakens by 19 paise to close at 86.55 against dollar.
🟢 RBI has expanded rupee-based international trade settlements by signing MoUs with UAE, Indonesia, and Maldives to reduce dollar dependency. The framework allows special Vostro accounts for bilateral trade and aims to strengthen India’s currency position.
🟢 Indian Govt announces 8th Pay Commission for revision of salaries of 50 lakh central government employees.
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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.