Finvezto Market Bytes, 20 Feb 2025
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NEW ORDERS & PROJECTS RECEIVED
🟢 HFCL signed an agreement with BSNL worth ₹2501.30 Cr on February 19, 2025, becoming the first Project Implementation Agency for BharatNet Phase-III Programme in Punjab Telecom Circle.
🟢 Waaree Energies secured a 362.5 MWp solar modules supply order from Khaba Renewable Energy, a subsidiary of Engie India, with delivery scheduled to commence in FY 2025-26.
🟢 JBM Auto's subsidiary JBM Ecolife Mobility awarded tender for 1,021 Electric Buses worth ₹5,500 Cr under PM-eBus Sewa Scheme, to be deployed across 19 cities in Gujarat, Maharashtra and Haryana.
🟢 Ashok Leyland secured a ₹297.85 Cr order from Tamil Nadu State Transport Corporation for supplying 320 BS VI diesel 12-meter low-floor buses with iGen 6 technology, to be delivered between June-August 2025.
🟢 India Glycols receives ₹1,264.20 Cr ethanol supply contract from Oil Marketing Companies (OMCs) and additional ₹37.10 Cr from Reliance Industries and Nayara Energy.
🟢 V.L.Infraprojects received ₹41.19 Cr order from Gujarat Water Supply and Sewerage Board for PVC/DI pipeline installation and construction work under Abdasa RWSS augmentation project.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 RITES Ltd signed an MoU with Central Water and Power Research Station to collaborate on engineering consultancy services and R&D projects in water resources, marine, and inland waterways infrastructure.
🟢 Mahindra Group partnered with American tech company Anduril Industries to co-develop Autonomous Maritime Systems, AI-enabled Counter Unmanned Aerial Systems, and Command & Control software for enhanced maritime security operations.
🟢 Kalyani Strategic Systems Ltd, Bharat Forge's subsidiary, signed a Letter of Intent with AM General to supply made-in-India advanced artillery cannons to the United States (first-ever such export from India).
🟢 Mahindra Lifespace Developers collaborates with Livingstone Infra for ₹1,650 Cr cluster redevelopment project in Mahalaxmi, Mumbai.
ECONOMY
🔴 SBI pegs India's Q3FY25 GDP growth at 6.2-6.3%, lower than RBI's December projection of 6.8%, reflecting cautious economic outlook.
🟢 Goldman Sachs estimates US tariff impact on India's GDP to be between 0.1-0.6%, noting that exports to US account for only 2% of India's GDP.
🟢 Gold reclaims all-time high of ₹89,400 per 10 grams.
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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.