Microcap Minute Free Newsletter #3
28th Oct 2024
Welcome to the Microcap Minute Newsletter!
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 28th October 2024 to 2nd November 2024
Mahindra & Mahindra Ltd. reported record-breaking sales in October 2024, with SUV sales at 54,504 units (25% YoY growth), total vehicle sales at 96,648 units including exports, and domestic tractor sales reaching 64,326 units (30% YoY growth), driven by favorable conditions and strong demand.
Aegis Logistics Limited increased its stake in its subsidiary Aegis Vopak Terminals Limited from 50.55% to 51.14% through a ₹300 crore preferential allotment, while AVTL also issued shares worth ₹25 crore to its CEO to fund its next growth phase.
Royal Enfield, a division of Eicher Motors, achieved record October 2024 sales of 110,574 units (31% YoY growth), launched a manufacturing unit in Bangladesh with IFAD Motors, and unveiled the Bear 650 scrambler along with limited-edition scale models.
Apollo Hospitals plans to build a 500-bed facility in Worli, Mumbai, and add 200 beds to its Lucknow hospital, investing ₹6,100 crore over 4 years, aiming for completion by FY26–FY27.
The Great Eastern Shipping Company Ltd. agreed to sell its 2005-built tanker Jag Padma (approx. 47,999 dwt), with delivery by Q3 FY25, as part of its fleet management strategy.
Siemens Limited is proceeding with a scheme to demerge its Energy Business into Siemens Energy India Limited, a wholly-owned subsidiary.
Electronics Mart India Limited opened a new 5,400-sq-ft "Bajaj Electronics" multi-brand store in Rajampet, Andhra Pradesh, on October 31, 2024.
Bharti Airtel Limited will acquire approximately 5% stake in Ericsson US Dhaulagiri LLC, a venture focused on global telecom network APIs, aligning with its digital services enhancement strategy.
CIE Automotive India Limited invested ₹3.6 crore to acquire a 31.2% stake in ReNew Green (MHK Two) Pvt Ltd to set up 7.8 MW AC captive solar power plants.
Zydus Wellness Limited acquired 100% of Naturell (India) Pvt Ltd, owner of Ritebite Max Protein and Ritebite brands, to expand into healthy snacking, expecting EPS accretion from next year.
Biocon Limited's Bengaluru Drug Substance Facility received a "Voluntary Action Indicated" (VAI) classification from the US FDA after a cGMP inspection.
REC Limited:
Incorporated Lakadia B Power Transmission Limited as a subsidiary to manage a Gujarat transmission project, to be transferred to a successful bidder after completion.
Incorporated Banaskantha Transco Limited on October 25, 2024, as a wholly-owned subsidiary to manage a transmission scheme, to be transferred after bidding completion.
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Wipro Limited partnered with Microsoft and SAP to accelerate RISE with SAP migrations on Microsoft Cloud, offering financial incentives for near-zero cost migrations.
Krishna Institute of Medical Sciences (KIMS) increased its stake in Sunshine Hospital from 66.35% to 68.59% by purchasing shares for ₹40.16 crore to strengthen its healthcare presence.
Dabur India Limited will acquire and merge Sesa Care Pvt Ltd and its Bangladesh subsidiary, acquiring 51% preference shares for ₹12.59 crore and assuming ₹289 crore debt, to enhance its Ayurvedic hair care presence.
Info Edge (India) Limited invested ₹17 crore in Zwayam Digital Pvt Ltd and ₹2 crore in Allcheckdeals India Pvt Ltd, its wholly-owned subsidiaries, for working capital and expenses.
Nazara Technologies' subsidiary Datawrkz acquired 100% of UK's Space & Time for GBP 4.8 million (₹52.3 crore) to expand in Europe and North America.
JTL Industries Limited expanded its Raipur facility from 100,000 MTPA to 200,000 MTPA, increasing total capacity to 686,000 MTPA and adding 200 new SKUs, focusing on value-added products.
Maruti Suzuki India Limited announced a collaboration between Suzuki Motor Corporation and Toyota to advance efforts in electrified vehicles.
Tata Consultancy Services (TCS) partnered with Brazil's Insper, investing R$50 million over 10 years to drive innovation using AI, IoT, and GenAI, aligning with regional growth strategy.
Tata Power approved a ₹5,666 crore investment in a 1,000 MW Pumped Storage Hydro Project at Bhivpuri, to be completed in 44 months, supporting renewable energy applications.
Ashoka Buildcon Limited:
Will acquire 34% of Ashoka Concessions Limited (ACL) from Macquarie SBI Infrastructure for ₹1,526 crore, making it wholly-owned.
Its subsidiary Viva Highways Ltd. will acquire 26% of Jaora Nayagaon Toll Road Company Pvt. Ltd. (JTCL) for ₹150 crore, increasing indirect stake to 61.17%; both transactions expected to conclude by June 2025.
Yatharth Hospital and Trauma Care Services Ltd:
Acquired 60% of a 400-bed Faridabad hospital for ₹91.2 crore, plans to invest ₹100 crore more.
Won a bid for a super specialty hospital in Delhi, expanding capacity by 300 beds, strengthening presence in North India.
Adani Power Limited signed a PSA with MSEDCL to supply 1,496 MW of power for 25 years, with the agreement received on October 30, 2024.
Jupiter Electric Mobility (JEM) acquired Log9's Railway and Electric Truck Battery Divisions to strengthen its electric mobility capabilities, including Vande Bharat batteries and eLCV offerings.
APAR Industries Limited will:
Invest ₹3.79 crore in Clean Max Rudra Pvt Ltd for renewable projects.
Invest up to USD 10 million in Petroleum Specialities in Singapore and UAE for working capital and expansion.
Invest USD 100,000 in CEMA Wires & Cables LLC, USA.
CG Power and Industrial Solutions Limited:
Incorporated Axiro Semiconductor Pvt Ltd on October 29, 2024.
Launched AXELERA™ 3.0 and AXELERA™ 4.0 process performance motors up to 7.5 kW capacity.
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Jio Financial Services Limited formed joint ventures Jio BlackRock Asset Management Pvt Ltd and Jio BlackRock Trustee Pvt Ltd, investing ₹82.5 crore and ₹40 lakh for 50% stakes, to enter India's asset management industry with BlackRock.
JSW Group and POSCO Group signed an MoU to develop a 5 million tonnes per annum integrated steel plant in India, and explore collaborations in EV battery materials and renewable energy.
JSW Energy submitted a resolution plan for KSK Mahanadi Power Company, emerging as the highest bidder, and will submit a revised plan for approval.
RattanIndia Enterprises launched Kalaanj, an Indian ethnic wear brand for women, through subsidiary Neobrands Limited, available exclusively on Amazon.
NTPC Limited commenced commercial operation of 32.90 MW of its 300 MW Shambu ki Burj-2 Solar PV Project in Rajasthan, raising total capacity to 76,475.68 MW.
Aurobindo Pharma's subsidiary Lyfius Pharma inaugurated a ₹2,500 crore Penicillin-G facility in Andhra Pradesh under the PLI scheme, enhancing domestic API production, with scaling up in FY25.
Reliance New Energy Limited (RNEL), a subsidiary of Reliance Industries, acquired the remaining 7.99% of Faradion Limited, making it wholly-owned, to strengthen its energy storage and battery technology position.
RITES Ltd. and SAIL-Bokaro Steel Plant signed an MoU for project management consultancy on rail connectivity within the Bokaro Steel Plant.
KNR Constructions will sell its entire stake in KNR Muzaffarpur Barauni Tollway Pvt. Ltd. and KNR Muzaffarpur Holdings Pvt. Ltd. to JKM Infra Projects Ltd., expected to complete by November 15, 2024.
Poonawalla Fincorp Ltd. partnered with TIH at IIT Bombay to leverage AI for risk management and HR operations, under a four-year MoU.
NHPC Limited's subsidiary NHDC Limited commissioned the 88 MW Omkareshwar Floating Solar Power Plant in Madhya Pradesh, expected to generate 204.58 million units annually.
Laxmi Organic Industries approved investments of ₹914 million and ₹905 million to set up a new n-Butyl Acetate plant in Dahej and expand the Ethyl Acetate plant in Lote, adding 70 KTA capacity each, operational by Q4 FY26.
Fortis Healthcare received CCI approval to acquire entire stakes of certain investors in Agilus Diagnostics, aligning with its expansion plans.
Welspun Enterprises will acquire an additional 9.99% of Welspun Michigan Engineers from Patel Engineering for ₹100 crore, increasing ownership to 60.09%.
Tata Technologies partnered with Air India to redesign and upgrade aircraft interiors, enhancing passenger comfort and efficiency.
Grasim Industries, via Birla Cellulose, partnered with US-based Circ to promote textile recycling, purchasing up to 5,000 tons of recycled pulp annually for five years.
JSW Renewable Technologies Two Limited partnered with SANY Renewable Energy to manufacture wind turbine blades in India for internal use.
Persistent Systems Limited completed the acquisition of Arrka Infosec Pvt Ltd on October 28, 2024, making it a wholly-owned subsidiary.
HFCL Limited, via subsidiary HFCL B.V., acquired 100% of HFCL Pty Limited, Australia, to expand global operations.
Route Mobile concluded Route Amplify 2.0 event, showcasing AI, customer engagement, security, and digital communication innovations with industry leaders.
Mahindra Finance received RBI approval to launch co-branded credit cards with RBL Bank, offering tailored benefits and rewards.
Cyient acquired 27.3% of Azimuth AI to enhance its semiconductor capabilities in intelligent energy and power solutions.
Deepak Phenolics Ltd will procure 250 KTPA Propylene and 11 KTPA Hydrogen from Petronet LNG Ltd under a 15-year agreement for its Dahej project.
Infosys Limited completed the acquisition of Blitz 24-893 SE, Germany, through subsidiary Infosys Singapore Pte. Ltd.
Apeejay Surrendra Park Hotels Limited opened THE Lotus Palace Chettinad, a heritage hotel in Tamil Nadu under THE Park Collection.
HCLFoundation partnered with UPNEDA to promote solar energy in rural Uttar Pradesh, managing 40 solar mini grids and developing 75 solar villages.
IndiaMART InterMESH Limited, through Tradezeal Online, invested ₹5 crore in EasyEcom, subscribing to 50,000 CCDs for a 26.01% stake.
HCLTech launched its first Kerala delivery center at Infopark, Kochi, providing engineering and R&D services across multiple sectors.
Texmaco Rail & Engineering Ltd. acquired Jindal Rail Infrastructure Ltd. (now Texmaco West Rail) for ₹614 crore, strengthening its freight car manufacturing leadership.
Archean Chemical Industries Limited (ACIL) invested GBP 15 million for 21.33% of Clas-SiC Wafer Fab Ltd and USD 12 million for 21% of Offgrid Energy Labs Inc., diversifying into semiconductors and energy storage.
Bikaji Foods, via BFRL, acquired 40.4% of The Hazelnut Factory for ₹61 crore, entering the QSR segment, with plans to acquire 53.02% over two years.
Shree Renuka Sugars' subsidiary Anamika Sugar Mills will invest ₹1,838 million to expand capacity and add a 15 MW power plant in Uttar Pradesh by 2025-26.
Avenue Supermarts Limited acquired 26% of FP Ampere Energy Pvt Ltd for ₹1.99 crore, making it an associate company.
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Disclaimer
All information is sourced from publicly available data, and while every effort has been made to ensure the accuracy and reliability of the information provided in these notes from the management meeting, Ayush Agarwal Research cannot guarantee that the information is complete or free from errors.
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