Things I read yesterday as part of my stock research activities.
New Orders Received
🟢 VA Tech Wabag won Large EPC order from Saudi Water Authority for 50 MLD BWRO plant at Aljouf, KSA valued $30M–$75M.
🟢 Bharat Electronics Limited (BEL) secured orders worth ₹569 crore for radars, tank overhaul, communication equipment, fire control systems etc.
🟢 Arfin India secured repeat order from Diamond Power Infrastructure for 11,000 MT aluminium sector conductors worth ₹321 Cr.
🟢 SEPC received ₹230 Cr turnkey mining infrastructure order from MOIL for designing, construction and commissioning 3rd vertical shaft at Chikla Mine.
🟢 RVNL emerged as L1 bidder for ₹201.23 Cr East Coast Railway project, to build 200-wagon POH workshop at Kantabanji.
Partnerships & Acquisitons
🟢 Arvind Fashions to buy Flipkart’s 31.25% stake in Arvind Youth Brands for ₹135 Cr, making it a wholly owned subsidiary.
🟢 Lloyds Engineering Works board approved merger by absorption of LICL, Metalfab and Techno Industries into the company, creating an integrated platform.
🟢 Lupin signed exclusive licensing deal with Gan & Lee to commercialize Bofanglutide fortnightly GLP-1 agonist for type 2 diabetes in India.
🔴 Swiss asset manager GAM opposes Motherson’s ~$172M acquisition of Honda’s Yutaka Giken, arguing the ¥3,024/share tender undervalues it by 50-70%. Puts minority shareholders at risk.
Core Business & Regulatory
🟢 Cupid board gave in-principle approval to set up first international FMCG manufacturing facility in Saudi Arabia.
🟢 Jindal Steel to double Raigarh structural steel capacity from 1.2 MTPA to 2.4 MTPA by mid-2028, adding heavy sections and reducing imports.
🟢 Bharti Airtel launched Airtel Cartoon Network Classics channel offering ad-free classics for ₹59 per month, strengthening content monetization.
🟢 Nestle India management highlighted high-growth pet food opportunity and ₹4,500 Cr capex investments, expecting volume-led expansion to support broader FMCG sector.
Economy, IPO & Other
🟢 Government is considering higher import duties and budget support for domestic manufacturing, with over 100 products reportedly under review. Although I saw this in media, there are no official sources confirming the same.
🟢 India Industrial Production YoY rose to 6.7% in Nov with manufacturing output MoM 8.0% and cumulative IIP 3.30%, indicating improving activity.
That’s it for today.
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