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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January 01, 2025

• TVS Holdings disinvests 100% stake in TVS Emerald.
• Gujarat Toolroom
• Resignation of Company Secretary and Compliance Officer.
• NCC Limited received an order worth 349.70 Crore.
• Pennar Industries has partnered with Zetwerk and others to form a joint venture for manufacturing and selling solar modules. Zetwerk holds 50.1%, Pennar 45.0%, and others 4.9%. The venture targets domestic and international markets with a capital of Rs. 41.67 crore
• INDOSTAR FINANCE: The company reduced its stressed portfolio by approving the sale of part of its Commercial Vehicle Loan book to Assets Care & Reconstruction Enterprise Limited.
• The sale, involving Stage 3 accounts with outstanding dues of Rs 174 crore, was resolved on December 31, 2024, at carrying value through an ARC sale under RBI’s Master Directions on Loan Transfers.
• NEWGEN SOFTWARE : WINS RS 15.5 CR ORDER
• Newgen Software Inc. (NSI), a subsidiary of Newgen Software Technologies, has signed a Scope of Work with a banking client for Digital Account Opening, Retail Loans, ECM, and Collection Upgrade, valued at USD 1,829,019.
• Time Period; 2 years
• KORE DIGITAL: Board Approved the acquisition of 98% equity shares in Franken Telecom Private Limited, KDL Realinfra Private Limited, and Wolter Infratech Private Limited, making them subsidiary companies.
• Swiggy Instamart has already passed last year’s NYE orders earlier today.
• Some of the tier 2 cities like Ludhiana, Rajkot, Pondicherry and Kanpur are ordering 3x more orders than an average day.
• More than 2.3 lakh chips are ordered on Instamart till now.
• Quick commerce is killing
• INDO TECH: Board approved a Capital Expenditure Proposal of INR 75 Crores for enhancement of plant capacity to 16000 MVA executable over the following Financial Years 2024-2027
• Co. To Add Additional 6500 MVA Capacity By March 2027
• NEWGEN SOFTWARE: WINS ANOTHER ORDER OF RS 14 CR
• Newgen Software Technologies Limited has accepted a USD 1,643,256 Award for Credit Automation services, inclusive of taxes From International Client
• Time Period 5 Years
• LT FOOD: LT Foods Completed Acquisition of 17.5% stake in its subsidiary, Nature Bio-Foods Limited, from India Agri Business Fund II Limited for Rs. 110 Crores on December 31, 2024.
• IREDA: Q3 BIZ UPDATE
• Loan Sanctioned Up 129 % To ₹31,087 Cr YOY , UP 74 % QOQ
• Loan Disbursements Up 41 % To ₹17,236 Cr YOY , UP 76 % QOQ
• Loan Book Up 36 % To ₹ 69000 Cr YOY , UP 7 % QOQ
• BEAT THE STREET BULLETIN
• Date: 1-Jan-2025
• Telegram: [t.me/beatthestreet10]
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• NEW ORDERS & CONTRACTS
• - Kalpataru Projects: Secured ₹1,011 crore orders in Transmission & Distribution, Railway, and Buildings & Factories sectors.
• - Vishnu Prakash: Won ₹7.29 crore contract for steel girder fabrication at multiple railway stations.
• - DMR Hydroengineering: Won ₹9 crore consultancy order for water conveyance projects from Welspun Michigan Engineers.
• - NCC Limited: Received ₹349.7 crore order.
• - Newgen Software: Secured multiple contracts, including ₹15.5 crore for digital services and ₹14 crore for credit automation.
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• ACQUISITIONS & STAKE INCREASES
• - Captain Pipes: Raised ₹21 crore through a preferential issue at ₹16.5 per share, with investors including Securocrop Securities and others. Funds likely to support an upcoming greenfield plant.
• - Sun Pharma: Divested its 100% stake in Sun Pharma Japan Technical Operations to Zaza Industrial Holdings.
• - Reliance Industries: Increased its stake in Viacom18 to 83.88%, making it a subsidiary after converting CCPS into equity shares.
• - Prataap Snacks: CCI approved Authum Investment acquiring a 72.8% stake in the company.
• - LT Foods: Acquired a 17.5% stake in Nature Bio-Foods for ₹110 crore.
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• FUNDRAISING & CAPITAL EXPANSIONS
• - Indo Tech Transformer: Approved ₹75 crore in capital expenditure to enhance plant capacity, aiming for an additional 6,500 MVA capacity by March 2027.
• - Pennar Industries: Formed a joint venture with Zetwerk to manufacture solar modules, with a ₹41.67 crore capital.
• - Indostar Finance: Reduced its stressed portfolio by selling part of its ₹174 crore commercial vehicle loan book to Assets Care & Reconstruction Enterprise Ltd.
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• LEADERSHIP CHANGES & APPOINTMENTS
• - Protean eGov: Appointed Mr. Rakesh Dosi as EVP and Chief Business Officer, effective January 3, 2025.
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• STRATEGIC PARTNERSHIPS & AGREEMENTS
• - Powergrid Corp: Established a joint venture with Rajasthan Power Grid Transmission Company to expand operations.
• - SJVN: Signed an MoU with the Bihar government for a ₹5,663 crore, 1,000 MW pumped storage project.
• - Kore Digital: Approved the acquisition of 98% equity in three companies to form subsidiaries.
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• OPERATIONS & INFRASTRUCTURE UPDATES
• - IREDA: Reported a 129% increase in loan sanctions and 41% in disbursements in Q3 FY24.
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• OTHERS
• - TVS Holdings: Sold its entire stake in TVS Emerald.
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• Stay Updated with Beat the Street
• SOUTH WEST PINNACLE
• Company wins contract for CBM production worth Rs. 158 Crores.
• INDIAN RENEWABLE ENERGY DEVELOPMENT: LOAN DISBURSEMENTS AT 17,236 CR VS 12,220 CR (YOY)