Key Stock Updates, 13 Jan 2025

New Orders & Projects

🟢 Interarch secured a ₹221 Cr order from Tata Projects for semiconductor and lithium-ion battery sector manufacturing.

🟢 Oberoi Realty has secured a significant appointment as the developer for a slum rehabilitation scheme at Bandra Reclamation, Mumbai. Oberoi Realty will be entitled to a free sale component of approximately 3.2 lakh square feet (RERA Carpet area) from the development and redevelopment of the land.

Partnerships/Investments/Acquisitions

🟢 Waaree Energies will acquire 100% stake in Enel Green Power India (EGPIPL) for ₹792 Cr from Enel Green Power Development. EGPIPL operates solar and wind projects with a net capacity of about 640 MWAC (760 MWDC).

🟢 JSW Neo Energy completed acquisition of 125 MW Renewable Energy assets from Hetero Group for ₹630 Cr.

🟢 Signature Global to acquire 16.12 acres land in Gurugram with 2.73 million square feet development potential.

🟢 Poly Medicure forms JV with AMPIN C&I Power for solar project in Haryana, holding 26% stake in venture. The solar power project will serve as a captive generating plant to supply power to Poly Medicure’s manufacturing facilities in Haryana.

🟢 360 One Wam gets SEBI approval to acquire Moneygoals Solutions from Times Internet.

Core Business Updates

🟢 Sarda Energy successfully synchronizes 24.9 MW Rehar Small Hydro Project with grid.

🔴 US FDA classifies Biocon Biologics' Johor Bahru site in Malaysia as Voluntary Action Indicated.

🟢 Electronics Mart India Limited has launched a new multi-brand store under the brand name “ELECTRONICS MART” in New Delhi. It currently operates 192 stores across Telangana, Andhra Pradesh, and Delhi NCR.

🟢 Hindustan Unilever incorporates new arm Kwality Wall's for ice cream business demerger.

🟢 Rail Vikas Nigam Limited (RVNL) has successfully registered its new branch office with the Rwanda Development Board, expanding its international presence in Africa.

🔴 Ola Electric receives additional information request from Central Consumer Protection Authority seeking additional information following 10,644 consumer complaints. The company has six weeks to respond following a Karnataka High Court extension.

Corporate Actions & Regulatory Updates

🟢 ICICI Lombard secures ₹175 Cr relief in income tax dispute.

🟢 Bombay Burmah Trading Corporation reaches settlement with SEBI over alleged securities law violations with Wadia family.

🔴 Infosys files counterclaim against Cognizant alleging anti-competitive practices and Helix platform misuse.

IPOs & Fund Raising:

🟢 Standard Glass Lining shares to debut on stock exchanges today.

🟢 Ather Energy targets $2.4 billion valuation for IPO, plans to file DRHP by early February.

Indian Economy

🔴 Microfinance sector portfolio contracted from ₹4.43 lakh Cr in March 2024 to ₹3.93 lakh Cr by November 2024 due to slow disbursals. India Ratings has revised the sector outlook to “deteriorating” from “neutral”.