Market Highlights

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

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December 27, 2024

• BEAT THE STREET BULLETIN
• Date: 26-Dec-2024
• Telegram: [t.me/beatthestreet10]
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• NEW ORDERS & CONTRACTS
• - POWER MECH: Secured a ₹186 Crore order for providing operation and maintenance services to Jaiprakash Power Ventures Limited’s 2 x 660MW Jaypee Nigrie Super Thermal Power Plant.
• - GENSOL ENGINEERING: Secured an ₹897.47 Crore EPC contract for a 225 MW solar project from NTPC Renewable Energy Ltd.
• - DYNAMIC SERVICES: Won an ₹8.2 Crore order from South Central Railway for rooftop solar plants and allied services.
• - IRCON: Won an ₹89 Crore order for maintaining new overhead electric and power supply infrastructure for Northeast Frontier Railway.
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• FUNDRAISING & CAPITAL EXPANSIONS
• - AGRIBIO SPIRITS: The board will meet on December 31 to discuss equity share allotment from warrant conversions and explore growth opportunities such as acquisitions, fund-raising, tie-ups, and collaborations.
• - RAJ OIL: Launched a new product, "SOYARAJ."
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• STRATEGIC PARTNERSHIPS & AGREEMENTS
• - SUYOG TELEMATICS: Signed an MoU to acquire Lotus Tele Infra Private Limited for ₹13.5 Crore, boosting its telecom presence in Delhi and NCR.
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• ACQUISITIONS & STAKE INCREASES
• - ADANI ENT: Acquired a 26% stake in Gidhmuri Paturia Collieries Pvt Ltd, a company focused on coal and mineral mining.
• - NAZARA TECH: Acquired a 10.26% stake in Absolute, increasing its holding to 81.94%, making Absolute a subsidiary.
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• CAPACITY EXPANSION
• - LORDS CHLORO: Operationalized a 90 TPD capacity expansion, increasing its caustic soda lye production capacity by over 40%.
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• RESIGNATIONS & APPOINTMENTS
• - No new appointments or resignations reported today.
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• LEGAL & REGULATORY UPDATES
• - ORIENT CEMENT: The Bombay High Court granted interim relief to the company regarding a demand note from MSPGCL, contingent on a ₹3.18 crore deposit by December 31, 2024.
• - NHPC: Updates on the Subansiri Lower Hydro Electric Project and Teesta-V Power Station, with three units (250 MW each) of the Subansiri project set for completion by May 2025, and the remaining units by May 2026.
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• OTHER UPDATES
• - MASTERCARD: US retail sales increased 3.8% this holiday season, with online sales rising by 6.7% year-over-year.
• - ANJANI FOODS: Opened a new bakery outlet in Visakhapatnam, Andhra Pradesh.
• - SKF INDIA: Board approved a scheme for demerger, with SKF India Industrial issuing shares in the resulting company.
• - ASYA INFOSOFT: Won a ₹3.52 Crore order for manufacturing and supplying electrical items for a customer in the UK.
• - SUBAM PAPER: Initiated the process of forming an LLP, Nellai Subam Packaging LLP.
• - RPP INFRA: The board will meet on December 31 to consider a partnership in the paper packaging industry involving an ₹8 Crore contribution.
• - CREATIVE GRAPHICS: Acquired a PVDC coating machine and testing equipment to enter the PVDC segment.
• - DHANI SERVICES: RERA registration granted for its residential project, “Indiabulls Estate & Club-I” in Gurugram, to enable asset monetization.
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• Stay Updated with Beat the Street
• GREAT EASTERN SHPPING: Wholly owned subsidiary of the Company ‘Great Eastern CSR Foundation’ has been changed to ‘Great Eastern Foundation’ w.e.f. December 23, 2024 as approved by the Ministry of Corporate Affairs.
• RENASAISSANCE GLOBAL: Board approved additional investment upto Rs. 90 Corers in VJFZCO by way of subscription to shares of VJFZCO.
• The investment amount will be used by VJFZCO to make further investment and/or to repay its debt or other outstanding dues.
• Emkay on Auto & Auto Ancillaries:
• December 2024 Volumes
• Retail sales post-festive have moderated across 2Ws and PVs
• 2 wheeler/passenger vehicle retail sales down 16%/1% in December 2024 vs 16%/4% growth during Sepetember-November 2024
• Growth rates remain muted despite record discounts- which heave led to high channel inventory
• Nirmal Bang: Capital Goods Q3FY25 Preview
• Expect most companies to see good growth due to robust order book execution
• Expect topline growth of 19.8% year-on-year for the coverage
• OWAIS METAL : The company has installed new automatic charcoal production machines, reducing production time from 6 days to 1 day and increasing efficiency.
• Annual capacity will rise from 10,800 tons to 34,800 tons.
• Commercial production has begun in Madhya Pradesh and Rajasthan.
• DHANI: Board will meet on December 31, 2024, to consider raising funds for real estate projects through equity, convertible securities, or other methods, including QIP or preferential issue, in India or abroad.
• VA TECH: WABAG wins EIB & KFW funded DBO order in Zambia for Waste Water Treatment Plants worth ~ Euro 78 Million (~ INR 700 Crore) from Lusaka Water Supply and Sanitation Company
• WABAG wins a DBO contract in Zambia to build two wastewater treatment plants (54 MLD and 19 MLD) in Ngwerere and Chunga. The 36-month EPC phase will be followed by 24 months of O&M.
• Green energy sources like biogas and solar will power the plants. WABAG's expertise and competitive bid secured the project.
• STEEL STOCKS: Govt imposes import restrictions on low ash metallurgical coke for 6 months from 1 Jan To 30 June 2025
• Note ; According To Reuters Report In June , Steelmakers oppose import curbs on low ash met coke, citing potential steel and coking coal price hikes
• Import restrictions could raise costs and hurt smaller steel producers