Finvezto Market Bytes, 24 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
🟢 HFCL secured ₹2,167.65 Cr order from Rail Vikas Nigam for supply of optical fiber cables and telecom equipment for BharatNet Phase III in UP East and West circles, including 10-year maintenance.
🟢 Zaggle Prepaid Ocean Services partnered with Siemens Limited to provide Zaggle Propel rewards program for Siemens employees under a 3-year agreement.
🟢 Jyoti Structures secured ₹741.28 Cr order from PowerGrid for design, supply, and commissioning of ±800 kV HVDC Bipole Line between KPS2 & Nagpur, their highest value EPC contract in recent times.
🟢 Newgen Software secured $3 Million purchase orders from US insurance industry customer for a 5-year duration.
🟢 Lakshya Powertech secured ₹45.98 Cr order from Asian Energy Services for design and commissioning of 3 gas compressor packages, to be executed in 6 months.
🟢 Krystal Integrated Services secured multiple contracts in January 2025 - housekeeping from AAI for Aurangabad Airport, security from Mumbai Airport, and staff services extension from MMMOCL for 30 metro stations.
🟢 RBM Infracon secured ₹7.06 Cr order from Mundra Petrochem for piping spool fabrication work at open yard for Green PVC project in Mundra.
🟢 Oriental Rail Infrastructure secured ₹5.87 Cr order from Integral Coach Factory Chennai for supply and installation of 44 sets of seats and berths for LWS PP Coach.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Kotak Mahindra Bank completed acquisition of Standard Chartered Bank's personal loan book for ₹3,330 Cr, strengthening its retail lending presence.
🟢 NHPC formed joint venture with Andhra Pradesh Power Generation Corp for renewable energy projects, expanding its green energy portfolio.
CORE BUSINESS
🟢 Mahindra Lifespace acquired 8.2 acres land in North Bengaluru through subsidiary Anthurium Developers, with ₹1,000 Cr Gross Development Value potential.
🔴 Maruti Suzuki announces price hikes from February 1, ranging from ₹1,500 to ₹32,500 across models, with Celerio seeing highest increase, citing rising input costs and operational expenses.
🟢 Indus Towers plans expansion into EV charging infrastructure sector, diversifying from core mobile tower business.
🟢 Adani Wilmar starts operations at new integrated food processing plant in Haryana, set to create 2,000 jobs through direct and indirect employment.
🟢 Greenlam Industries begins commercial chipboard production at Andhra Pradesh facility, targeting annual revenue potential of ₹750 Cr at full capacity.
🟢 Aarti Industries commences production at expanded Dahej SEZ facility in Gujarat, enhancing manufacturing capabilities.
🟢 IHL Lifesciences successfully revived Parenteral Drugs' manufacturing unit that was shut since May 2022.
🟢 Piramal Critical Care expanded its generic injectables portfolio with launches of Edaravone IV Infusion, Pantoprazole Sodium Injection, and Doxycycline Injection.
REGULATORY
🔴 VST Industries under GST department inspection at Telangana factory and offices.
🔴 Patanjali Foods ordered by FSSAI to recall chilli powder batch for failing to meet food safety standards.
🔴 CCPA issues notices to Ola and Uber over alleged differential pricing between iPhone and Android users, following consumer complaints on social media, with Consumer Affairs Minister warning against unfair practices.
🟢 Akums Drugs clarifies no assessment order received regarding IT department search conducted between January 15-21 at offices and plants.
INDIAN ECONOMY
🟢 Maharashtra secured ₹17 lakh crore investments at Davos, with Reliance committing ₹3 lakh crore. Major investors include Brookfield (₹1 lakh crore), Sumitomo, K Raheja, Blackstone, Temasek (₹43,000 crore each), and Hiranandani (₹51,600 crore).
🟢 AWS also plans $8.3 billion investment in Maharashtra cloud infrastructure by 2030, expected to contribute $15.3 billion to India's GDP and create 81,300 jobs, building on previous $3.7 billion investment since 2016.
🟢 December domestic air traffic rose 4.2% MoM to 1.49 Cr passengers, with IndiGo leading 64.4% market share, followed by Air India at 26.4%. Overall 2024 traffic grew 6% YoY to 16.13 Cr passengers.
🔴 Rupee depreciates 5% over two years and 20% in five years, becoming weakest performing currency in South and Southeast Asia, closing at 86.45 against dollar
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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.