Things I read yesterday as part of my stock research activities.
New Orders Received
🟢 MTAR Technologies received orders worth ₹271.75 Cr for various projects in defense and aerospace sectors from multiple clients.
🟢 Divgi Torqtransfer Systems secured a multi-year order from Toyota Tsusho India for tailored transfer cases for commercial pick-up trucks valued at ₹62 Cr.
Core Business & Regulatory
🟢 Ircon International achieved record ₹10,000 Cr turnover with Navratna status. Expanded rail, highway, and tunnel projects globally. Focusing on high-margin international contracts for multi-year revenue visibility.
🟢 India Pesticides commissioned expanded formulation capacity to 10,000 MT, allocated ₹65 Cr capex for backward integration of herbicide intermediates.
🟢 Axiscades Tech received provisional land allotment from TSIIC for setting up a defense and engineering complex in Telangana, aiming to boost capabilities in critical sectors like aerospace and manufacturing.
🟢 Sandur Manganese and Iron Ores granted consent for operation-expansion of company’s manganese and iron ore mines by regulatory authorities.
🟢 Emaar India announced new residential project Serenity Hills in Gurugram with estimated GDV over ₹600 Cr.
🟢 Marathon Nextgen launched residential project in Panvel with estimated GDV over ₹600 Cr.
Partnerships & Acquisitons
🟢 Mahindra & Mahindra signed agreement for 50:50 life insurance JV with Manulife, with each committing up to ₹3,600 Cr and initial investment of ₹1,250 Cr over first 5 years.
🟢 Ambuja Cements partnered with Coolbrook to deploy world’s first commercial RotoDynamic Heater technology, advancing cement decarbonisation tech.
🟢 Centum Electronics signed strategic MoUs with BEL and GRSE for collaboration in defense electronics and systems integration.
🟢 Phoenix Mills entered share purchase agreement with CPP Investments to buy stake in ISMDPL for ₹276 Cr, strengthening its retail and commercial real estate presence.
🟢 Cosmo First formed 50:50 JV with Filmax in Korea to carry out distribution, sale, and marketing of flexible packaging and other products. Expanding market reach in Asia.
🟢 Indraprastha Gas approved alliance-cum-partnership agreement with Masah Construction Company in Saudi Arabia to obtain license and develop natural gas distribution networks in the region.
Economy & Sectors
🟢 India’s October CPI inflation dropped to record low 0.25%, with food inflation at -5.02%, signaling easing price pressures and potential for monetary policy flexibility.
🟢 Indian Govt approved ₹25,060 Cr export promotion mission to be disbursed over 6 years, expanding credit guarantee scheme by ₹20,000 Cr for exporters to boost international trade.
🟢 Indian Govt approved rationalisation of royalty rates for graphite, cesium and zirconium to boost mining sector efficiency and attract investments in critical minerals.
🟢 India’s smartphone exports hit record $2.4 billion in October, with first seven months totaling $16 billion. Strong growth.
🔴 India Govt declared New Delhi blast as terrorist incident, reiterating zero tolerance for terrorism with highest level monitoring to ensure security.
🟢 US House passed spending bill to end record government shutdown, with President Trump signing into law to restore federal operations and stabilize economy.
🟢 Dow Jones closed at record high, extending four-day rally by 1,300 points. Can be attributed to shutdown resolution hopes and positive market sentiment.
Company Results
Source: Company Filings, Finvezto Toolkit
That’s it for today.
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Very much useful Snippets