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BEAT THE STREET BULLETIN 🗞
Date: 20-Dec-2024 Telegram: [
t.me/beatthestreet10]
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NEW ORDERS & CONTRACTS -
L&T: Wins ₹7,628 crore order for K9 Vajra-T artillery guns from the Ministry of Defence.
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STEEL STRIPE: Wins Euro 15 million (₹132 crore) order for Steel wheel business from European OEM.
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UNITED DRILLING: Wins ₹55.2 crore order from ONGC Ltd. for casing pipes.
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NBCC: Wins ₹98 crore order for e-library platform from Maharashtra government medical colleges.
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NBCC: Wins ₹200 crore order for construction of new Oil India hospital in Duliajan.
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WANBURY: Passes ANVISA inspection for manufacturing facility in Tanuku, Andhra Pradesh.
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ITCONS: Wins ₹3.61 crore order from Central Warehousing Corporation, Kochi.
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RUDRABHISHEK: Bags ₹73 crore order.
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FUNDRAISING & CAPITAL EXPANSIONS -
AGI GREENPAC: Board approves up to ₹1500 crore fundraising via equity.
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RBA: Board approved up to ₹500 crore fundraising via QIP.
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IDBI BANK: Board meeting on Dec 31 to consider approval for Long Term Rupee Bond borrowings of up to ₹10,000 crore for FY 2024-25 & 2025-26.
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KELTON TECH: Board approves ₹100 crore fundraising via equity.
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ACQUISITIONS & STAKE INCREASES -
THERMAX: Completes acquisition of 100% equity share capital of Buildtech.
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AION TECH: Incorporates wholly owned subsidiary, ROQIT Greenfleet Digital Solutions Pvt. Ltd. focusing on zero-emission EV and hydrogen fleets.
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SABOO SODIUM: To issue up to 21,99,726 fully paid-up equity shares at ₹28 each to acquire shares of Villashare Tech.
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SPECTRUM FOODS: Will issue up to 12,54,253 equity shares at ₹33 each in exchange for shares of Villashare Tech.
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KOTHARI PRODUCTS: Board meeting on 27 Dec to consider a bonus issue.
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STRATEGIC PARTNERSHIPS & AGREEMENTS -
SpiceJet: Partners with StandardAero Inc. to return 737-8 MAX to service.
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BAJAJ AUTO: Launches new Chetak e-scooter '35 Series' with 153 km range.
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PRAVEG: Announces strategic partnership with Mahindra Holidays & Resorts for hospitality projects in Daman, Diu, and Ayodhya.
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TECH MAHINDRA: Merger with Perigord Premedia, Perigord Data Solutions, TMCPL, and TSL sanctioned by NCLT.
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CAPACITY EXPANSION & PRODUCTION -
GREENLAM IND: Delays greenfield particle board project at Naidupeta, Andhra Pradesh; commercial production now expected in January 2025.
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WAAREE ENERGIES: Starts trial production of 1.6 GW solar module line in Texas.
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LMW: Completes restructuring of its subsidiary; transfers equity in LMW Textile Machinery (Suzhou) Co. Ltd., China to LMW Holding Ltd., UAE.
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RESIGNATIONS & APPOINTMENTS -
JTEKT INDIA: Re-designates Mr. Minoru Sugisawa as Chairman & Managing Director effective January 1, 2025.
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CONCORD CONTROL: Mr. Mayank Modi resigns from the post of CFO effective Dec 20, 2024.
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AU SMALL: Harun Rasid Khan re-appointed as Part-time Chairman for 3 years.
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MUTHOOT MICRO: Thomas John Muthoot steps down as Non-Executive Director.
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LEGAL & REGULATORY UPDATES -
ADANI ENT: Bombay High Court dismisses petition by Seclink Technologies challenging Maharashtra govt's decision to award Dharavi Redevelopment Project to Adani.
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SHRIRAM PROPERTIES: Approves sale of securities in subsidiary SPL Shelters Pvt. Ltd.
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INTERGLOBE AVIATION: Approves loan of USD 43 million to subsidiary.
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OTHER UPDATES -
SAI SILKS: Opens its 65th store in Pondicherry.
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SHOPPERS STOP: Launches "Glamfluencer 2025", India’s first beauty reality show.
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Ola Electric: Launches "SavingsWalaScooter" campaign; to open 4,000 stores by Dec 25.
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MAZAGON DOCK: Starts production of first FPV for ₹1,070.47 crore ICG project.
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VENDANTA: S&P upgrades Vedanta Resources to 'B', outlook stable.
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SPICEJET: Partners with StandardAero Inc. for 737 MAX return to service.
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