Finvezto Market Bytes, 20 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
🟢 TD Power Systems secured ₹57 Cr order from NPCIL for low-speed induction motors for Kudankulam plant, replacing imported high-speed motors.
🟢 Power & Instrumentation Gujarat secured ₹17.07 Cr order from A2 Green Energy for 5MW solar power project in Latur, Maharashtra, to be completed in 18 months.
🟢 Advait Energy secured order from Karnataka Renewable Energy Development for developing web portal/mobile app under PM KUSUM scheme with 5-year maintenance.
🟢 Kay Cee Energy secured ₹19.49 Cr order from Rajasthan Rajya Vidyut Prasaran for 220kV line construction and refurbishment in Sirohi-Bali, to be completed in 18 months.
🟢 Shiva Texyarn received ₹9.06 Cr order from Indian Airforce for supply of 21,333 NBC HAVERSACK MK-II pieces, to be delivered between January 2025-2026.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Dixon Technologies’ subsidiary IsmartU India has signed a binding MoU with KHY Electronic India to acquire land, buildings, machinery, and other tangible assets for ₹133 crore (excluding taxes) to expand manufacturing capacity
🟢 TVS Motor and Hyundai Motor unveiled electric three-wheeler and micro four-wheeler concepts at Bharat Mobility Expo, exploring partnership for manufacturing and co-development of last-mile mobility solutions.
🟢 Zaggle Prepaid Ocean Services partnered with HT Media Limited for providing Zaggle Save employee expense management and benefits platform for 2 years.
🟢 Minda Corporation completed acquisition of 49% stake in Flash Electronics, strengthening its position in automotive electronics sector.
🟢 Adani Electricity signed agreement to acquire Superheights Infraspace for ₹475 Cr from Adani Properties, gaining development rights for 3,000 sq.m BKC land.
🟢 Dalmia Cement entered agreement to acquire 26% equity in Solis Urja Energy for ₹1.75 lakhs, expanding its renewable energy portfolio.
🟢 Arvind and PurFi Global's joint venture to build textile recycling facility in Gujarat, with 9,000 metric tons initial capacity, supporting H&M's sustainability goals for 100% recycled materials by 2030.
🟢 Ashapura Minechem's international subsidiary signed long-term MoU with China Railway for developing Fako bauxite deposit in Guinea, strengthening global operations.
CORE BUSINESS
🟢 Eicher Trucks launched electric SCV 'Pro X Range' in 1.7-tonne and sub-110kg variants at Bharat Mobility Expo 2025, entering pick-up segment dominated by M&M, Ashok Leyland, Tata Motors.
🟢 Ashok Leyland launched mini-truck 'Saathi' priced at ₹6.5 lakhs at Bharat Mobility Expo, targeting 20% market share in 5 years, with deliveries starting in 3-4 weeks.
🟢 Banco Products' subsidiary NRF to open 18,613 sq.m warehouse in Chitila, Romania in 2025, following its 12,700 sq.m Valencia facility.
🟢 GMR Airports reported 9% YoY growth in passenger traffic reaching 1.1 Cr, with 7% YoY increase in aircraft movements to 64,364 in latest quarter.
🔴 Angel One's Q3 net profit declined 33.5% QoQ to ₹2.8 Cr due to recent regulatory changes by SEBI. Net Revenues impacted 18-20%.
REGULATORY
🟢 Zydus Lifesciences received USFDA approval to conduct Phase II(b) clinical trial of Usnoflast for ALS treatment, targeting 210 patients across multiple centers.
🟢 ITD Cementation secured ₹12 Cr arbitral award from Airports Authority of India Tribunal over contractual disputes.
🔴 SRF received GST demand order of ₹170 Cr including penalty from Vadodara tax authority.
🔴 Tata Steel filed a curative petition on January 17, 2025, challenging Supreme Court’s July 2024 ruling allowing states to tax mineral-bearing land. The company faces potential Rs 17,347 crore liability in Odisha retrospectively from 2005.
INDIAN ECONOMY
🟢 Budget Session starts January 31 with Presidential address, followed by Union Budget presentation on February 1, running till April 4 with a break from February 13 to March 10.
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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.