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Market Highlights

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

December 30, 2024

  • BEAT THE STREET BULLETIN
  • Date: 30-Dec-24
  • NEW ORDERS & CONTRACTS
  • - IL&FS Engineering: Bags ₹302.82 Cr project for Bhubaneswar Metro Phase-I.
  • - Reliance Power: Subsidiary Rosa Power Supply secures ₹3,760 Cr term loan from Power Finance Corp.
  • - Aerpace India: Wins ₹97.5 Cr order for 50 MWp high-efficiency smart solar panels.
  • - Sahana Systems: Wins ₹25.37 Cr order for toll infrastructure projects.
  • - Newgen Software: Secures ₹24 Cr order from Aye Finance for loan origination solution.
  • - Mahindra EPC: Wins ₹3.4 Cr contract for micro-irrigation systems.
  • - Sharika Enterprises: Wins ₹8 Cr order from JSW Renew Energy for underground cabling projects.
  • - Teerth Gopicon: Wins rooftop solar power projects order from SJVN Ltd.
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  • CORPORATE UPDATES & ANNOUNCEMENTS
  • - IOL Chemicals: Board approves stock split of 1 share into 5 shares.
  • - Morepen Labs: Forms a new subsidiary focused on medical devices to enhance capabilities.
  • - MCX: Pays ₹50 lakh financial disincentive for a technical glitch on Sep 30, 2024.
  • - Jeena Seekho: Launches new alkaline water device in the filtration and purification segment.
  • - Dynamic Services: Completes ₹45 Cr acquisition of Bharat Battery MFG Co. Pvt. Ltd.
  • - Reliance Industries: Subsidiary Reliance UbiTek LLC voluntarily liquidated as of Dec 20, 2024.
  • - Coforge: Approves amalgamation of Cigniti Technologies Ltd. with a 1:5 swap ratio.
  • - SecureCloud Tech: Enters MoU with lender R S Ramani to revise payment schedule.
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  • STRATEGIC PARTNERSHIPS & AGREEMENTS
  • - Bharat Global: Ministry of Corporate Affairs approves incorporation of two subsidiaries focusing on renewable energy projects.
  • - Reliance Industries: Strategic Business Ventures invests in Karkinos Healthcare under resolution plan.
  • - Sahaj Solar: Signs 9-year land lease agreement for manufacturing solar panels.
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  • INFRASTRUCTURE & EXPANSIONS
  • - JSW Energy: Signs agreement to acquire O2 Power Midco Holdings & O2 Energy SG Pte for $1.47 billion (₹12,468 Cr).
  • - Adani Green: Commissions 62.4 MW wind project & 112.5 MW solar project in Gujarat.
  • - Phoenix Mills: Incorporates wholly owned subsidiary SPARKLE THREE MALL DEVELOPERS.
  • - Sai Silks: Opens its 66th store in Chennai, Tamil Nadu.
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  • RESTRUCTURING & OPERATIONAL SHIFTS
  • - Subros: Shifts operations to Karsanpura and surrenders Sanand land lease to Tata Motors.
  • - Gokaldas Exports: Promoters pledge 15 lakh shares (2.1% stake) to Aditya Birla Finance.
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  • FUNDRAISING UPDATES
  • - Deep Industries: Approves fundraising up to ₹350 Cr via QIP.
  • - Avro India: Issues 25,75,320 equity shares at ₹185.50 each, raising ₹47.77 Cr from non-promoters.
  • - Vikas Ecotech: Board meeting on Jan 1 to discuss securities issuance for long-term resources.
  • - Balkrishna Paper: Board meeting on Jan 2 to discuss fundraising and borrowing plans.
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  • REGULATORY & LEGAL UPDATES
  • - Spandana Sphoorty: CARE Ratings revises outlook to Negative due to declining profitability, asset quality issues, and microfinance risks.
  • - Reliance Infra: PS Toll Road receives notices from Axis Bank and IDFC Bank invoking substitution rights for Pune-Satara NH-44 project; plans legal action.
  • - Jaiprakash Power: SEBI imposes ₹54 Lakh financial penalties for misrepresentation of financials.
  • - Zydus Wellness: Receives ₹56.33 Cr GST demand notice; reviewing next steps.
  • - Vodafone Idea: Releases 22.56% pledge shares after dues repayment.
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  • STRATEGIC BUSINESS DEVELOPMENTS
  • - Nazara Technologies: Infuses ₹63.98 Cr into Nodwin Gaming.
  • - Greenply Industries: Resumes manufacturing operations at Vadodara MDF plant.
  • - Bikaji Foods: MCA approves incorporation of Bikaji Bakes Pvt. Ltd. as a wholly owned subsidiary.
  • - Suprajit Engineering: Incorporates Suprajit Chuhatsu Control Systems Pvt. Ltd.
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  • SECURITY & COMPLIANCE
  • - Alkyl Amines: Rupture at Kurkumbh plant results in fatal injuries and temporary operational disruption.
  • - Gujarat Fluorochemicals: Incident at CMS-1 plant in Dahej results in 4 fatalities; operations disrupted.
  • - Andhra Paper: VP (Purchase & Forestry) resigns for better prospects, effective Dec 28, 2024.
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  • APPOINTMENTS & RESIGNATIONS
  • Appointments
  • - SJVN: Appoints Sanjay Kumar as CFO from Jan 1, 2025.
  • Resignations
  • - Ola Electric: Anshul Khandelwal (CMO) & Suvonil Chatterjee (CPO) resign, effective Dec 27, 2024, citing personal reasons.
  • - TPL Plastech: Akshay Chandan resigns as CEO on Feb 9, 2025; Jayesh Ashar to take over.
  • - Andhra Paper: VP (Purchase & Forestry) resigns for better prospects, effective Dec 28, 2024.
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  • Stay Updated With
  • BEAT THE STREET
  • *BIG THUMBS UP FROM ALL BROKERAGES TO JSW ENERGY ON O2 DEAL*
  • JSW ENERGY
  • JSW Neo to acquire 4,696 MW RE platform from O2 Power at an of 12,468cr for 4,696 MW
  • BROKERAGES
  • AXIS CAPITAL - EQUITY VALUE OF DEAL AT 35/SHARE
  • INVESTEC - POTENTIAL UPSIDE OF 45/SHARE
  • MOSL - POTENTIAL UPSIDE OF 57/SHARE
  • *ICICI SECURITIES UPGRADES JSW ENERGY TO BUY*
  • NOMURA - STRONG ACQUISITION AT ATTRACTIVE VALUATION, VS MULTIPLES FOR LISTED PEERS
  • Afcom Holdings
  • Started new international operations to Bangkok.
  • Gensol Engineering
  • Invitation to experience the first-ever showcase of the Gensol EV car at Bharat Mobility Global Expo 2025
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