Microcap Minute Free Newsletter #1
20th Oct 2024
Welcome to the Microcap Minute Newsletter!
On popular demand, we're excited to bring you back our updates. Each week, we'll bring you the latest updates from companies of all sizes—from the industry giants making headlines to the emerging microcap firms that could be tomorrow's success stories.
Our goal is simple: to keep you informed and engaged with clear, straightforward insights. Whether you're a seasoned investor or just curious about the market, there's something here for everyone.
So grab a cup of coffee, settle in, and let's dive into this week's market happenings!
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All Caps Updates between 14th October 2024 to 19th October 2024
Computer Age Management Services (CAMS) has launched a new facility at the Brigade International Finance Centre in GIFT City, Gujarat, expanding operations with enhanced staff from October 18, 2024, to support growing fund administration services for over 20 clients and cater to global market opportunities.
Krishna Institute of Medical Sciences (KIMS) has signed an MoU with Wipro GE Healthcare valued at up to ₹700 crore for new medical technology products, replacements, and services across KIMS's 12 existing and 4 upcoming hospitals over the next three years.
Granules India Limited announced that its subsidiary, Granules Pharmaceuticals, Inc., has received USFDA approval for Bupropion Hydrochloride Extended-Release Tablets (100 mg, 150 mg, and 200 mg), bioequivalent to GlaxoSmithKline's Wellbutrin SR, bringing their total ANDA approvals to 67 and strengthening their U.S. presence.
Persistent Systems has launched SASVA™ 2.0, an AI-driven platform designed to enhance software development and business acceleration, offering end-to-end solutions integrating AI-assisted coding, predictive analytics, and real-time insights to optimize productivity and efficiency.
JSW Energy:
Its subsidiaries, JSW Renew Energy Six and Thirty Limited, have signed 25-year Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 1,200 MW of solar-wind hybrid capacity (600 MW each) at a tariff of ₹3.60/kWh, aiming for operation within 24 months.
JSW Neo Energy Limited has signed agreements to acquire three SPVs from the Hetero Group totaling 125 MW of wind energy capacity for an enterprise value of ₹630 crore, expected to close within 90 days, aligning with their goal of 10 GW renewable capacity by FY 2025.
JSW Renew Energy Seventeen Limited has signed its first hybrid PPA with Gujarat Urja Vikas Nigam Limited for a 192 MW wind-solar hybrid project at a tariff of ₹3.27/kWh for 25 years, expected to be operational within 24 months.
JSW Renew Energy Thirteen Limited has signed a 25-year PPA with NTPC Limited for 700 MW of solar capacity at a tariff of ₹2.59/kWh, expected to be commissioned by June 2026.
Bharti Airtel:
Completed deployment of an additional 5 MHz spectrum on the 2100 band across all 40 districts in Uttar Pradesh (West) and Uttarakhand, enhancing 4G/5G network capacity for faster data speeds and better indoor coverage.
Partnered with Kia India to provide connectivity solutions for Kia's new Kia Connect 2.0 platform, offering advanced IoT solutions and secure real-time connectivity to enhance customer experience.
Airtel Business partnered with Vonage to launch Airtel IQ Business Connect, a unified communications application for enterprises in India, enabling seamless multi-channel communication and real-time monitoring.
Airtel Business also partnered with Zscaler to launch "Airtel Secure Digital Internet," India's first fully managed Zero Trust Architecture-based cybersecurity solution, integrating Airtel’s Internet Leased Line connectivity with Zscaler’s cloud security technology.
Acquired a 26% equity stake (78,58,400 shares) in AMP Energy C&I Thirty Private Limited for ₹7.86 crore to meet regulatory requirements for captive power consumption and procure cost-effective renewable energy.
Archies has launched a festive campaign in collaboration with EaseMyTrip and Meena Bazaar, offering shoppers incentives like a Goa trip for purchases over ₹3,000 and travel vouchers with every purchase, aiming to enhance the shopping experience and celebrate tradition.
MOIL Limited has signed a joint venture agreement with Madhya Pradesh State Mining Corporation Limited to explore and carry out mining activities, including value addition projects, in Madhya Pradesh, with MOIL holding 51% and MPSMCL 49%, subject to approvals.
JSW Steel and JFE Steel Corporation's joint venture, Jsquare Electrical Steel Nashik Private Limited, agreed to acquire 100% equity in thyssenkrupp Electrical Steel India for ₹4,051.40 crore, enhancing JSW's value-added portfolio and enabling manufacturing of grain-oriented electrical steel in India.
Wipro Limited has incorporated Wipro Life Science Solutions, LLC as a step-down subsidiary in the U.S. on October 10, 2024, aiming to explore business opportunities in the life sciences segment by offering post-approval pharmaceutical services.
Dodla Dairy Ltd. has acquired 35.23 acres of land in Itkal Village, Maharashtra, to establish an integrated plant focused on milk processing and value-added products, enhancing its supply chain and operational efficiency in the region.
Electronics Mart India Limited:
Opened a new multi-brand store under the "Bajaj Electronics" brand on October 17, 2024, in Bapatla, Andhra Pradesh, spanning 5,000 square feet.
Transitioned its store at Nexus Mall, Hyderabad, from an exclusive MI brand outlet to a multi-brand outlet named “Audio & Beyond” on October 14, 2024.
Landmark Cars Limited has received a Letter of Intent from BYD India to open a new showroom in Faridabad, Haryana, through its subsidiary Watermark Cars Private Limited, marking the fifth BYD outlet under Landmark’s management.
Bharat Forge Limited has signed a definitive agreement to acquire 100% equity in AAM India Manufacturing Corporation Pvt. Ltd. for an enterprise value of ₹544.53 crore, subject to approvals, aiming to expand its product portfolio and customer base, with completion expected within 120 days of CCI approval.
TVS Motor Company has launched the new TVS HLX 125 with 5 gears in Kenya, featuring enhanced durability, superior performance, and an extended warranty of 50,000 km or 18 months.
Intellect Design Arena has partnered with the National Bank of Fujairah to implement its eMACH.ai Cloud for Wholesale Banking on Microsoft Azure, enhancing NBF's digital capabilities for corporate and SME clients.
Mahindra Holidays & Resorts has launched 'Club Mahindra Bharatpur' in Rajasthan, a 10-acre resort offering 59 rooms and various amenities, aligning with its goal to double room capacity to 10,000 by FY30.
Syrma SGS Technology Limited will inaugurate a new state-of-the-art manufacturing facility at Ranjangaon MIDC, Pune, Maharashtra, on October 23, 2024, with government dignitaries and media coverage.
L&T Energy Hydrocarbon, a business vertical of Larsen & Toubro, has secured a significant contract from Rashtriya Chemicals and Fertilizers Limited to provide license, engineering, procurement, and construction services for a 1,200 MTPD NPK fertilizer plant at RCF's Thal unit in Maharashtra.
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Tata Power Company Limited has received a Letter of Intent from REC Power Development and Consultancy Limited to acquire the project SPV ERES-XXXIX for transmission services, involving construction of key substation infrastructure with an annual transmission charge of ₹289.79 crore and a scheduled operation date of December 31, 2027.
Patel Engineering Limited has signed a Memorandum of Understanding with Ircon International Limited on October 16, 2024, to collaborate and jointly pursue infrastructure projects in India and overseas.
Welspun Corp Limited has completed the acquisition of 100% equity in Weetek Plastic Private Limited through its wholly owned subsidiary Sintex-BAPL Limited, making WPPL a wholly owned step-down subsidiary that manufactures plastic pipes, fittings, and water storage tanks.
BLS International has completed the acquisition of a 51% stake in SLW Media, a leading sports management company specializing in the golf industry, expanding its presence into the upscale sports and leisure market.
Aether Industries has commissioned an additional 5 MW of its 15 MW solar power project with auto-tracker modules, bringing total operational capacity to 10 MW and expecting to save approximately ₹60 million annually in electricity costs.
Zydus Lifesciences:
Received final approval from the USFDA to manufacture Fludrocortisone Acetate Tablets USP, 0.1 mg, used to treat Addison's disease, marking the company's 400th ANDA approval.
Partnered with the Indian Council of Medical Research to initiate a Phase 2 clinical trial of Desidustat for treating patients with Sickle Cell Disease.
Reliance Brands Holding UK Limited, a subsidiary of Reliance Brands, has formed a strategic joint venture with Mothercare plc to own and manage the Mothercare brand and intellectual property across South Asia, with Reliance holding 51% and Mothercare 49%.
Torrent Power Limited has signed a Share Purchase Agreement on October 17, 2024, to sell its 100% stake in Torrent Electricals Limited to Torrent Investments Private Limited, which is part of the promoter group.
Shyam Metalics and Energy Ltd. has commenced operations at its state-of-the-art Coke Oven Plant in Jamuria, West Bengal, featuring eco-friendly technologies like zero-emission coke oven technology and waste heat recovery for power generation.
RateGain Travel Technologies has announced a strategic integration with TCA Software Solutions, connecting TCA's Inssit Property Management System with RateGain’s advanced Channel Manager to enable hotels in Latin America to optimize bookings by connecting to over 400 online channels.
Wockhardt Limited has filed for approval of its fast-acting Insulin Aspart injection (ASPARAPID™) with the DCGI, aiming to enhance diabetes management in India and globally.
Sterlite Technologies Limited (STL):
Launched its innovative MultiCore Fibre at IMC 2024, featuring ultra-thin fibre with 7 and 4 cores to enhance transmission capacity for advanced technologies.
Announced an investment of ₹50 crore to establish a state-of-the-art fibre skilling training centre in Telangana to train local talent in fibre network deployment and next-gen technologies.
UltraTech Cement Limited has commissioned an additional 1.2 million tonnes per annum grinding capacity at its Arakkonam unit in Tamil Nadu, bringing its total cement capacity to 156.06 mtpa.
Bikaji Foods International Limited, through its subsidiary Bikaji Foods Retail Limited, will invest ₹131.01 crore to acquire a 53.02% stake in Hazelnut Factory Food Products Private Limited over the next two years, expanding into the premium bakery, patisserie, and QSR segments.
Bajaj Auto Limited has approved an additional capital infusion of up to USD 10 million (approximately ₹84 crore) into its wholly-owned subsidiary Bajaj Do Brasil Comercio De Motocicletas Ltda to support business expansion.
Tata Elxsi has launched Coalesce, an innovative XR platform powered by Qualcomm's Snapdragon Spaces XR platform, aimed at enhancing digital twins and remote 3D collaboration across industries.
Pra j Industries has inaugurated India’s first demonstration facility for biopolymers near Pune, showcasing its indigenously developed Polylactic Acid (PLA) technology to produce biodegradable bioplastics.
Suprajit Engineering Limited's wholly owned subsidiary, Suprajit USA Inc., has established a new subsidiary in China named "Suprajit (Jiaxing) Automotive Systems Company Limited" to meet operational requirements.
The Phoenix Mills' subsidiary, Alyssum Developers, has entered into agreements with O2 Renewable Energy XXIX to subscribe to equity shares and convertible debentures worth ₹3.83 crore, acquiring 40% equity to become a captive user of solar power generated by O2 Renewable XXIX.
EIH Limited has decided to invest up to GBP 69 million for 100% ownership in EIH London Investments Limited, aiming to strengthen its brand presence in the UK market, with the acquisition to be completed by November 30, 2024.
Exide Energy Solutions Limited, a wholly owned subsidiary of Exide Industries Limited, has signed an Energy Supply Agreement with Clean Max Beta Private Limited to acquire 17 MWp of solar power in Karnataka under the Captive User Policy and signed a Share Purchase Agreement to acquire a 26% equity stake in the SPV for ₹5.95 crore.
PNC Infratech Limited has incorporated a subsidiary, PNC Aakshya Joint Venture Private Limited, as an SPV to execute an EPC project awarded by CIDCO for infrastructure development under the NAINA project, with PNC Infratech holding a 90% stake.
Lupin Limited has launched the first generic version of Pred Forte® (Prednisolone Acetate Ophthalmic Suspension USP, 1%) in the U.S., receiving 180-day CGT exclusivity, used to treat steroid-responsive inflammation in the eye.
Cyient has partnered with Business Finland to drive innovation in emerging technologies like 5G, AI, sustainability solutions, space technology, and robotics, aiming to enhance technological advancements and market access.
Shree Rama Multi-Tech Limited's Board approved a capital expenditure of approximately ₹18 crore for capacity expansion by purchasing new tubing machines, increasing production capacity by 20% to around 95 lakh tubes per month, expected to complete within 6 months.
Adani Energy Solutions Ltd.:
Executed a Share Purchase Agreement on October 14, 2024, to acquire 100% equity shares of Navinal Transmission Limited from PFC Consulting Limited, involving establishing a 765/400 kV transmission substation and a 129 km transmission line.
Executed a Share Purchase Agreement on October 14, 2024, to acquire 100% equity shares of Jamnagar Transmission Limited from PFC Consulting Limited, involving setting up a 765/400 kV transmission substation and a 330 km transmission line in Jamnagar, Gujarat.
Power Grid Corporation of India Limited:
Acquired 100% equity shares of Rajasthan IV H1 Power Transmission Limited on October 15, 2024, for approximately ₹18.81 crore to establish a transmission system for evacuating 5.5 GW of power from Rajasthan REZ Phase IV (Part 2).
Acquired South Olpad Transmission Limited on October 15, 2024, under the TBCB route, valued at approximately ₹18.84 crore, including establishing a transmission system for evacuating power from a renewable energy zone in Gujarat.
Crompton Greaves Consumer Electricals Limited has launched its new residential water pump range, "WIN Plus," featuring advanced technologies like rust protection, anti-jam mechanisms, and thermal overload protection, designed for homes in rural areas and small towns.
Capri Global Capital Ltd. has launched its Rooftop Solar Finance product under MSME loans, partnering with Credit Fair to offer financing solutions for solar energy projects with loan amounts ranging from ₹50,000 to ₹25,00,000, aiming to build a ₹1,000 crore loan book.
Amber Enterprises India Limited has announced a joint venture with Korea Circuit to establish advanced manufacturing facilities for HDI, Flex, and Semiconductor substrates PCBs in India, with Amber Group holding 70% ownership and Korea Circuit holding 30%.
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Coal India Limited has introduced a digital and paperless process for signing Fuel Supply Agreements for customers participating in linkage-based auctions, streamlining the process and enhancing customer convenience.
Paras Defence and Space Technologies Limited has been granted a lifetime license under the Arms Act, 1959, to design, develop, manufacture, and upgrade various cannon systems for naval, air defence, airborne, and armoured vehicle applications.
Adani Airport Holdings Limited, a subsidiary of Adani Enterprises, has completed the acquisition of a 50.02% stake in Semolina Kitchens Private Limited, which operates lounges and food and beverage outlets at airports, for ₹0.05 crore.
LTIMindtree Limited has announced the merger of its wholly-owned subsidiary, LTIMindtree GmbH, with its wholly-owned step-down subsidiary, Nielsen + Partner Unternehmensberater GmbH, effective from October 2, 2024.
HFCL Limited has launched two innovative Unlicensed Band Radio products at the India Mobile Congress 2024, including a 1 Gbps Small Form Factor UBR for 4G/5G backhauling and a 2 Gbps Point-to-Multipoint UBR for rural broadband connectivity.
Vinati Organics Limited has subscribed to an additional 4.26 crore equity shares of its wholly owned subsidiary, Veeral Organics Pvt. Ltd., for ₹42.65 crore through a rights issue.
Sterling Holiday Resorts, a subsidiary of Thomas Cook (India) Limited, has opened Sterling City Centre Bokaro in Jharkhand, its first property in the state, featuring 74 rooms and a 6,000 sq. ft. banquet hall.
Lemon Tree Hotels has signed a license agreement for Lemon Tree Hotel in Dibrugarh, Assam, to be managed by its subsidiary Carnation Hotels Private Limited and expected to open in FY 2027, featuring 65 rooms and various amenities.
Hindustan Aeronautics Ltd. has been granted "Maharatna" status by the Department of Public Enterprises, Ministry of Finance, Government of India.
Indian Railway Catering & Tourism Corporation Limited has commenced commercial production at its Rail Neer Plant in Vijayawada, Andhra Pradesh, under the PPP model, increasing total Rail Neer production capacity to 18.40 lakh liters per day.
Quess Corp Limited's subsidiary, Quesscorp Holdings Pte Ltd, has incorporated a step-down subsidiary in Singapore, Quesscorp Solutions Pte. Ltd., on October 11, 2024.
Indian Oil Corporation Limited has partnered with EverEnviro Resource Management Pvt. Ltd. to form a 50:50 joint venture aimed at advancing biofuel adoption in India by converting organic waste into Compressed Biogas.
CESC Limited's subsidiary, Purvah Green Power Private Limited, has signed a Share Purchase Agreement to acquire 100% equity shares of Deshraj Solar Energy Private Limited, which is developing a 300 MW solar power plant in India.
Eris Lifesciences Limited has completed the acquisition of 100% stake in Chemman Labs Private Limited, as initially announced on August 2, 2024.
Piramal Capital & Housing Finance Limited, a subsidiary of Piramal Enterprises, has received final listing approval from India INX for its 7.80% USD 150 million Senior Secured Sustainability Notes due 2028 under Tranche 2 of its USD 1 billion EMTN Programme.
Indo Count Industries Limited's subsidiary, Indo Count Global, Inc., has acquired 100% of Modern Home Textiles, Inc., a U.S.-based company specializing in utility bedding products, for USD 11.7 million, expected to complete by October 31, 2024.
Coforge Limited has received final comments from SEBI on the draft letter of offer related to its open offer for the public shareholders of Cigniti Technologies Limited.
Easy Trip Planners Limited has entered into definitive agreements on October 11, 2024, to acquire a 30% equity stake in Rollins International Private Limited for ₹60 crore through an equity share swap, focusing on wellness and healthcare products.
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