Finvezto Market Bytes, 26 Mar 2025
I share the most important stock market related news I read everyday in a bite-sized format. No Noise. No Ads. Only Signals.
NEW ORDERS & PROJECTS RECEIVED
🟢 NCC secured two orders worth ₹10,805 crore from BSNL for BharatNet projects in Uttarakhand and Madhya Pradesh to expand digital infrastructure.
🟢 KPIL secured new orders worth ₹2,366 Cr in T&D business in India and overseas markets, and B&F business in India, bringing FY25 order intake to ₹24,850 Cr.
🟢 Engineers India Limited (EIL) secured two contracts worth ₹730 Cr from Middle East clients for PMC Services (₹650 Cr for 5 years) and Engineering & Project Management Services (₹80 Cr for 4 years).
🟢 Bajel Projects Limited secured a Large EPC order from Madhya Pradesh Power Transmission Corporation Limited for 132KV transmission lines in Bhopal involving monopoles, lattice structures, EHV underground cables and substation feeder bays, to be completed within 24 months.
🟢 Welspun Enterprises' arm, Welspun Michigan Engineers, secured a ₹209 crore order from Brihanmumbai Municipal Corporation for infrastructure development.
🟢 Waaree Renewables received a letter of award for an order worth ₹232 crore for a 170 MW solar power project.
🟢 NBCC (India) Limited secured orders worth ₹658.43 Cr, including ₹438.98 Cr from UIIDB for area revitalization projects in Uttarakhand and ₹219.45 Cr from C-DOT for PMC services at Mehrauli, New Delhi.
🟢 Nila Infrastructures Limited received a ₹63.52 Cr work order from Shree Infracon Private Limited for finishing work on 1694 residential flats at 'Ramapir no Tekro' slum rehabilitation project in Wadaj, Ahmedabad, to be completed in 10 months.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 GAIL and Coal India announced a joint venture to set up synthetic natural gas plants, with Coal India having a 51% stake and GAIL owning 49%.
🟢 TVS Motor's arm, TVS Motor Singapore, will acquire an additional 8.26% stake in Go Corp, Switzerland, for CHF 500,000.
🟢 Indegene Ireland will acquire MJL Communications Group and its subsidiary for GBP 3.4 million to expand their market presence.
🟢 Bharat Heavy Electricals extended its technology collaboration agreement with Vogt Power International USA for heat recovery steam generators.
CORE BUSINESS & REGULATORY
🟢 HCL Tech launched an AI-powered smart manufacturing solution, Agentic, on Google Cloud to enhance industrial operations.
🟢 IRFC will lend ₹5,000 crore to NTPC Renewable Energy for capital expenditure requirements to boost renewable energy development.
🔴 IndusInd Bank hired headhunter Egon Zehnder to find a new CEO and deputy CEO following accounting issues and RBI's decision to limit current CEO Sumant Kathpalia's term to one year.
🔴 Maruti Suzuki received a draft assessment order from the Income Tax Department worth ₹2,966 crore, facing potential tax liabilities.
🔴 Redington received an income tax demand order of ₹175 crore, including interest.
🔴 Indian Overseas Bank received an income tax demand of ₹559 crore and plans to file an appeal against the tax demand.
OTHER
🟢 RBI conducted open market operations, accepting ₹44,541 Cr in bids during its fifth OMO purchase, slightly below the ₹50,000 Cr target.
🔴 Gold prices dropped by ₹100 to ₹90,450 per 10 grams in Delhi.
🔴 Trump announced 25% tariff on countries that buy Venezuelan oil starting April 2, potentially impacting India which imported 15.5 million barrels from Venezuela between April-December 2024.
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.