Finvezto Market Bytes, 27 Mar 2025
I share the most important stock market related news I read everyday in a bite-sized format. No Noise. No Ads.
NEW ORDERS & PROJECTS RECEIVED
🟢 Wipro secured a 10-year strategic deal worth £500 million (over ₹5,500 Cr) with Phoenix Group, the UK's largest long-term savings and retirement business.
🟢 L&T has secured QatarEnergy LNG's "Ultra Mega" offshore contract for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4), becoming L&T's largest-ever single order, valued at over ₹15,000 Cr.
🟢 Bharat Dynamics Limited has signed a contract worth ₹4362.23 Cr with Ministry of Defence for supply of armaments to Indian Armed forces on March 26, 2025.
🟢 IRM Energy signed a five-year deal with Shell Energy India to purchase 326.84 mmscm of regasified liquefied natural gas.
PARTNERSHIPS, INVESTMENTS & ACQUISITIONS
🟢 Dr. Reddy's Laboratories entered into a pact with Chinese firm Bio-Thera Solutions for proposed biosimilars of Johnson & Johnson products.
🟢 TPG to buy 90% stake in Siemens Gamesa's India wind business, teaming up with MAVCO Investments and Prashant Jain for the renewables venture.
CORE BUSINESS & REGULATORY
🟢 Maruti Suzuki will invest ₹7,410 Cr to establish a third factory in Haryana's Kharkhoda with production capacity of 2.5 lakh vehicles per year.
🟢 One MobiKwik Systems received MCA approval for incorporation of an arm for securities broking business.
🟢 Vedanta appointed Tata Steel veteran Rajiv Kumar as the CEO of aluminium business.
🟢 Hindustan Unilever appointed Rajneet Kohli, former CEO of Britannia Industries, to lead its food business from April 7.
🟢 Maruti Suzuki appointed Sunil Kakkar as additional and whole-time director, marking first instance of a homegrown Indian employee nominated to the board by Suzuki Motor.
🟢 Exide and Amara Raja shares jumped up to 5% as safe harbour threshold for Li-ion batteries was raised to ₹300 crore, providing tax scrutiny immunity to businesses adhering to predefined pricing norms.
🔴 Reliance Industries will stop buying Venezuelan oil due to new 25% US tariff on countries purchasing crude from Venezuela, affecting monthly imports of about 2 million barrels.
🔴 Ashok Leyland's unit Switch Mobility has begun shutting down its UK operations. The Promoters have pledged additional 30 crore shares representing 10.2% of total equity.
OTHER
🟢 BSE will consider bonus share issue at its March 30 board meeting, potentially its second issuance in three years after previously announcing a 2:1 bonus in February 2022.
🟢 JSW Steel became world's most valuable steelmaker, surpassing Nucor Corp as its market capitalization crossed $30 billion.
🔴 SEBI puts WeWork India's IPO in abeyance without specifying reasons. WeWork filed draft IPO papers on January 31.
🟢 Indian rupee edged higher to 85.705 per US dollar.
🟢 Gold snapped 4-day losing streak, climbing ₹235 to ₹90,685 per 10 grams on Wednesday.
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.