Finvezto Market Bytes, 21 Jan 2025
Welcome to Finvezto Market 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
🟢 Cyient secured a multi-year contract to manage technical documentation for Deutsche Aircraft’s D328eco, a 40-seater regional turboprop. The deal focuses on safety-critical aviation systems and aims to streamline product lifecycle management
🟢 Supreme Power Equipment Ltd. secures ₹21.30 crore order from Chennai-based Electric Company for oil-cooled transformers, to be executed within 9 months.
🟢 Waaree Renewable Technologies secured ₹277.20 Cr order for setting up 105 MWp ground-mounted solar project on turnkey basis.
🟢 Waaree Energies secured order for supply of 180 MWp solar PV modules from a domestic renewable power project developer, with deliveries scheduled for FY 2025-26.
🟢 Landmark Cars received LOI from JSWMG MotorIndia to open new MG Select dealerships in Ahmedabad and Kolkata.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Bharti Airtel and Bajaj Finance are partnering to create a platform to offer financial products to Airtel’s 370 million customers, including gold loans, business loans, personal loans, and co-branded Insta EMI cards by March 2025.
🟢 REC transferred its stake in Rajasthan Part I Power Transmission to Adani Energy Solutions through share purchase agreement.
🟢 Nazara Technologies secured ₹495 crore from Axana Estates through preferential shares at ₹990 each. The company will use the funds for acquisitions, including its recent ₹67 crore purchase of CATS and King of Thieves IPs.
CORE BUSINESS
🟢 TCS inaugurated a new AI-focused delivery center in Toulouse, France on January 20, 2025, to drive aerospace and defense industry transformation. It is its fourth center in France.
🟢 TVS Motor launches India's first Bluetooth-connected electric three-wheeler, TVS King EV MAX, with 179 km range.
🟢 UTI Mutual Fund expanded its presence by opening 33 new financial centers across North and West India on January 20, 2025, increasing total branch network to 256 locations.
🟢 Prakash Industries started mining operations at Bhaskarpara commercial coal mine in Surajpur, Chhattisgarh.
REGULATORY
🔴 Cipla received Form 483 with one observation from US FDA for Medispray Laboratories facility in Goa.
🔴 Vodafone Idea clarified no communication received from government regarding AGR dues waiver.
INDIAN ECONOMY
🟢 Indian Govt approved ₹3,516 crore PLI investment for white goods from 24 companies, benefiting Voltas, Blue Star, Hindalco, LG Electronics, UNO Minda, and MIRC Electronics. The scheme focuses on AC and LED components manufacturing, aiming to reduce imports and boost domestic production.
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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.