Finvezto Market Bytes, 23 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
🟢 ITI Limited secured ₹167 Cr order from Maharashtra Government to set up and operate Aaple Sarkar Seva Kendra in gram panchayats.
🟢 Chambal Fertilisers amended its TAN plant contract with L&T, increasing contract value from ₹960.71 Cr to ₹992.71 Cr adding warm ammonia feed capability.
🟢 Effwa Infra & Research secured $4.29 million export order from Afcons Infrastructure for 16.5 MLD water treatment plant in Ivory Coast, to be completed in 9 months.
🟢 RPP Infra Projects secured ₹28.77 Cr order from BHEL for commissioning of Air Cooled Condenser at 3x800 MW PVUNL STPP Patratu, Jharkhand, to be completed in 10 months.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Hindustan Unilever acquires Vishwatej Oil Industries' palm undertaking in Telangana to build local palm derivatives supply chain for personal care products.
🟢 Hindustan Unilever is acquiring a 90.5% stake in Minimalist for ₹2,955 crore to strengthen its presence in the direct-to-consumer (D2C) skincare market. The current management will continue operations for two years
🟢 Reliance Consumer Products acquired SIL Foods to expand its FMCG portfolio. The acquisition brings Chinese sauces, jams, and canned foods under RCPL, aiming to modernize this heritage brand and compete with HUL, Tata Consumer, and Cremica.
🟢 Agro Tech Foods receives CCI approval for Del Monte Foods acquisition. The acquisition combines Agro Tech’s Sundrop oil and Act II popcorn with Del Monte’s ketchup, dips, spreads, and beverages, gaining access to food service channels and manufacturing facilities
🟢 BPCL to form joint venture with Praj Industries for compressed biogas plants.
🟢 Blinkit (Zomato) partners with Xiaomi, Nokia to deliver smartphones in 10 minutes in Delhi-NCR, Mumbai, and Bengaluru.
🟢 LTIMindtree renewed partnership with Association of American Medical Colleges to enhance technology infrastructure and optimize application development processes for improved healthcare solutions.
🟢 HUDCO signed MoU with Vadhvan Port Project for exploring and providing funds up to ₹25,000 Cr for new ports development.
🟢 Paras Defence signed MoU with Maharashtra government to invest ₹12,000 Cr over 10 years for Optics Park project.
CORE BUSINESS
🟢 HDFC Bank Q3 PAT rises 2% YoY to ₹16,736 Cr, NII advances 8%, aligned with expectations.
🟢 HUL Q3 PAT jumps 19% YoY to ₹3,001 Cr with sales rising 2% to ₹15,195 Cr.
🔴 Mazagon Dock Shipbuilders clarifies no contract signed with Jawaharlal Nehru Port Authority.
🟢 BPCL approves development plan submission to Indonesian regulator, with $121 million investment for Nunukan Block.
🟢 Waaree Solar Americas (Waaree Energies arm) starts 1.6 GW Solar Module production in US.
IPOs
🟢 Kent RO files IPO papers with SEBI, promoters to sell 1.01 Cr shares through offer for sale of face value ₹1 each.
CORPORATE ACTIONS
🟢 HUL approves 1:1 demerger ratio for Kwality Wall's listing, expected completion by March 2026.
REGULATORY
🟢 Zydus Lifesciences' Usnoflast receives FDA's orphan drug status for treating amyotrophic lateral sclerosis.
🔴 The Kirloskar family feud intensifies as Pune District Court grants interim relief to Kirloskar Brothers Limited over trademark usage.
🔴 Laurus Labs receives Form 483 with one observation from US FDA for its US-based arm Laurus Generics.
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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.