Finvezto Market Bytes, 27 Feb 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
🟢 Railtel Corp received work orders worth ₹111.43 crore and ₹56.66 crore from South Central Railway as part of two separate consortiums.
🟢 Adani Green Energy's wholly-owned subsidiary, Adani Saur Urja (KA) Limited, received a Letter of Award from UPPCL for 1,250 MW energy storage capacity from Pumped Hydro Storage Projects at ₹76.53 lakh per MW annually for 40 years.
🟢 Waaree Energies received an order for supply of 410 MWp solar modules from ABREL EPC Limited, a wholly owned subsidiary of Aditya Birla Renewables Limited, with supply scheduled to commence in FY 2025-26.
🟢 Zaggle Prepaid Ocean Services Limited entered into a 36-month agreement with Honasa Consumer Limited (Mamaearth parent company) to provide its Zaggle Zoyer Platform for customer service.
🟢 Jyoti Structures secured a ₹389.36 Cr order from Adani Energy Solutions for supply, installation and commissioning of 765 kV DC transmission line from Boisar to Pune, Maharashtra, to be completed in 18 months.
🟢 Power Mech Projects secured a ₹164.63 Cr order from BHEL for design, engineering, civil works, erection and commissioning for 2 X 800 MW DVC Koderma Thermal Power Station Phase-II project, to be executed within 30 months.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Indian government signed an MoU with Paytm to support fintech and manufacturing startups. The partnership will provide mentorship, infrastructure support, market access, and funding opportunities. Paytm will offer guidance to fintech hardware startups, helping them develop and scale payment and financial technology solutions.
🟢 KPI Green Energy's KP Group signed an agreement with Madhya Pradesh government to set up 1.8 GW of renewable energy projects across the state.
🟢 Tata Power signed an MoU with Assam government for development of up to 5000 MW of renewable and clean energy projects.
🟢 Airtel confirmed talks with Tata Group for potential combination of D2H business, with the companies currently in the discussion stage as per an exchange filing.
🟢 Godrej Enterprises Group's Energy Solutions arm eyes ₹2,000 crore revenue in three years, executing its first Greenfield 765kV AIS project in Rajasthan/Haryana and a GIS project in Maharashtra.
CORE BUSINESS & REGULATORY
🟢 UltraTech Cement announced plans to enter the cable and wires industry which has achieved revenue CAGR of 13% over FY19-24, diversifying beyond its core cement business.
🟢 Premji Invest-backed Best Value Chem opened a ₹550 crore chemical facility in Dahej spanning 30 acres, employing 300 people with an initial capacity of 10,000 MTPA.
INDIAN ECONOMY
🔴 The Indian Rupee plummeted to 87.24 against the US dollar, closing at 87.21, a significant drop from its previous close of 86.7. This made it one of the worst-performing Asian currencies, second only to the Thai baht.
🟢 Gold prices surged ₹250 to ₹89,350 per 10 grams, extending gains.
🟢 Number of individuals filing ITR with income more than ₹1 crore surged 43% in FY25, reaching over 3.21 lakh compared to 2.24 lakh in FY21, with overall tax filers rising 6.8% to cross 9 crore mark.
OTHER
🟢 Asian markets rebound led by Hong Kong's tech rally. The Hang Seng Index surged over 3%, reaching its highest level since March 2022. Hong Kong stocks have rocketed nearly 20% this year, driven by renewed interest in long-neglected tech companies following DeepSeek's chatbot unveiling.
🟢 Micromax made a foray into renewable energy space, focusing on high-efficiency solar panels for residential, commercial, and industrial applications to provide affordable solar power solutions across India.
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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.