Microcap Minute Free Newsletter #4
10th Nov 2024
Welcome to the Microcap Minute Newsletter!
Each edition delivers a curated roundup of essential updates—from strategic partnerships to key developments across a wide range of companies. Whether you're an investor, enthusiast, or simply looking to stay informed, Microcap Minute brings you the latest announcements and movements within the dynamic stock market, keeping you connected to new developments as they unfold.
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 4th November 2024 to 9th November 2024
C.E. Info Systems Limited approved forming a joint venture with Hyundai AutoEver to establish PT Terra Link Technologies in Indonesia with an initial capital of USD 10 million, where C.E. Info Systems will hold a 40% stake by investing USD 4 million, aiming to develop digital mapping services in South-East Asia with a board comprising two directors from C.E. Info Systems and three from Hyundai AutoEver.
Thomas Cook (India) Limited invested further in Indian Horizon Marketing Services Limited (IHMSL) by subscribing to a preferential offer, acquiring 6,60,000 Equity Shares and 14,60,000 Class A Equity Shares at Rs. 10 per share with an initial payment of Rs. 2.5 per share, totaling Rs. 53 lakh on a private placement basis.
Mahindra Lifespace Developers Ltd., through its subsidiary Anthurium Developers, entered a joint development agreement with GKW Ltd. for a 37-acre land parcel in Bhandup, Mumbai, with a development potential of approximately 3.6 million square feet, focusing on residential spaces with supporting commercial and retail components.
Vedanta Limited:
Approved increasing Bharat Aluminium Company's smelter capacity by 435 KTPA and rolled products by 130 KTPA at a cost of ₹11,816 crore, expected to bring benefits by FY 2025-26.
Sanctioned a ₹5,209 crore capex for the Athena Chhattisgarh Power Plant Project, aiming for phased operationalization in FY 2025-26.
Approved the acquisition of Sterlite Iron and Steel Company Limited by Sesa Resources Limited, consolidating it as a step-down subsidiary.
Azad Engineering Limited entered a non-binding MoU with Baker Hughes Saudi Arabia to explore establishing a facility for manufacturing precision components in Saudi Arabia, valid for one year from October 24, 2024.
KFin Technologies Limited formed a 50-50 joint venture named "MF Central" with Computer Age Management Services (CAMS), each investing up to INR 13.5 crore to manage an investment platform for mutual fund transactions.
SAMHI Hotels Limited signed a long-term variable lease for an Upper Upscale hotel with 170-175 rooms in Hitec City, Hyderabad, converting an office building to increase revenue from leased assets to over 20%.
Granules India Limited announced its Unit V facility in Andhra Pradesh received an EIR from the US FDA with "No Action Indicated" status after a successful inspection, confirming compliance with cGMP for APIs and Finished Dosages.
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Crompton Greaves Consumer Electricals Limited launched a new LED Batten product named "Laser Ray Smile 22W" on November 7, 2024, targeting the domestic B2C lighting market.
Power Finance Corporation Limited transferred two subsidiaries, Khavda PSI and 3 Transmission Limited and Barmer I Transmission Limited, to Power Grid Corporation of India Limited for Rs. 7.92 million and Rs. 18.89 million respectively, completed on November 7, 2024.
Hindustan Zinc Limited was declared the 'Preferred Bidder' for two tungsten mineral blocks—Balepalyam in Andhra Pradesh and Nayakkarpatti in Tamil Nadu—through the Ministry of Mines' Tranche IV Critical Mineral Auctions, subject to government approvals.
Subros Limited received board approval to establish a new greenfield manufacturing plant in Sonipat, Haryana, with a capacity of 4.5 lakh air-conditioning parts per year, operational by March 2026, investing approximately Rs. 150 crore.
Jubilant FoodWorks Limited approved an investment of up to Rs. 40 crore in its wholly-owned subsidiary Jubilant Foodworks Netherlands B.V. to fund interest payments for acquiring a stake in DP Eurasia N.V. and for general corporate purposes.
Tata Power completed the acquisition of a 100% equity stake in Paradeep Transmission Limited for ₹18.64 crore to establish and operate a transmission system under a BOOT basis, with operations to commence within 24 months.
EaseMyTrip partnered with Hyperface to enhance its card management capabilities, supporting existing and new co-branded credit and debit card programs.
Tata Consultancy Services (TCS) signed a multi-year deal with Air France-KLM to modernize the airline’s data infrastructure by migrating it to a cloud-based, AI-ready system, enhancing operational efficiency.
HCLTech was selected by New Zealand's Tasman District Council to enhance digital experiences using Microsoft Dynamics 365, introducing GenAI and automation to improve service delivery.
Honasa Consumer Limited launched a new winter skincare range across its brands—Mamaearth, The Derma Co., Aqualogica, and Dr. Sheth’s—available in retail stores, online, and official websites.
Macrotech Developers Limited agreed to acquire Bain Capital's stakes in three digital infrastructure entities for a total of ₹307 crore, expanding its annuity income through digital infrastructure under its LILP brand.
Brigade Group entered a Joint Development Agreement to build a one million square feet residential project in West Chennai, part of a larger 1.5 million square feet mixed-use development, valued at approximately ₹800 crore.
Electronics Mart India Limited launched a new 6,000 sq ft multi-brand store under the "Bajaj Electronics" brand on November 7, 2024, in Gooty, Andhra Pradesh.
Oil India Limited was selected as the preferred bidder for the Phop Graphite and Vanadium Block in Arunachal Pradesh in the Ministry of Mines’ Tranche IV auction of critical mineral blocks.
India Glycols Limited approved incorporating a wholly-owned subsidiary, proposed as IGL Spirits Limited, investing ₹1,00,000 to enter the spirit business.
Oberoi Realty Limited completed the acquisition of Nirmal Lifestyle Realty Private Limited under the Insolvency and Bankruptcy Code, paying ₹273 crore to creditors and acquiring 100% equity, effective November 7, 2024.
Wipro Limited announced a strategic partnership with RELEX Solutions to integrate RELEX's AI-based supply chain and retail planning platform, optimizing operations and inventory planning for clients.
Astra Microwave Products Limited entered a joint venture with Manjeera Digital Systems Private Limited to manufacture NavIC chips and GNSS products, each holding a 50% stake.
Godawari Power and Ispat Limited:
Approved a new facility for manufacturing Opvc pipes with an investment of ₹125 crore and expected annual revenue of ₹200 crore.
Agreed to acquire a 60% stake in R.G. Pigments Private Limited for ₹56.75 crore, expanding recycling capacity.
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Global Health Limited (Medanta) signed an agreement to operate and manage a 750-bed hospital in Pitampura, New Delhi, investing up to ₹600 crore over 3-4 years.
Cyient DLM entered a 16-year partnership with Honeywell Aerospace Technologies to develop liquid cooling loops for the Micro Vapor Cycle System, enhancing aircraft cooling technology.
Bharti Airtel launched mobile network services in Galwan and Daulat Beg Oldie, becoming the only private telecom provider in India's northernmost military outposts.
Ichnos Glenmark Innovation (IGI) will present Phase 1 trial data of their trispecific antibody ISB 2001 at the ASH Annual Meeting, showing a 75% response rate in relapsed/refractory multiple myeloma patients.
Krishna Institute of Medical Sciences (KIMS) Hospitals is expanding in Kerala, planning to add 3,000 beds over five years, including taking over Sreechand Hospital and establishing health cities.
Gravita India Ltd announced that Navam Lanka Limited completed a share buyback, increasing Gravita's stake from 52% to 69.85%.
Thomas Cook (India) Limited further invested in Indian Horizon Marketing Services Limited by subscribing to shares totaling INR 2.12 crore, resulting in TCIL and Atirath Technologies each holding 50% control.
The Indian Hotels Company Limited agreed to acquire approximately 55% equity in Rajscape Hotels Private Limited, operating "Tree of Life Resorts & Hotels," for up to ₹18 crore.
Steel Strips Wheels Ltd. launched the Aluminum Steering Knuckle, starting commercial production at its Mehsana, Gujarat facility from November 5, 2024.
Shyam Metalics and Energy Ltd. invested ₹600 crore to commission a new blast furnace and sinter plant at Jamuria, West Bengal, boosting steel production capacity by 0.77 MTPA.
Larsen & Toubro (L&T) formed a strategic partnership with E2E Networks to advance cloud and AI technology, acquiring a 21% equity stake in E2E Networks.
NTPC Limited entered a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited to manage the 2320 MW Chhabra Thermal Power Plant, each holding a 50% stake, with NTPC having management control.
Route Mobile Limited partnered with L&T Metro Rail Hyderabad and Billeasy to launch an RCS-based ticketing service integrated with Google Wallet for Hyderabad Metro commuters.
Infosys partnered with Southwark Council to launch its digital learning platform, Springboard, providing free digital literacy and employability skills.
HCLTech announced the launch of a new AI/Cloud Native Lab in Singapore, set to open in 2025 in partnership with the Singapore Economic Development Board.
Havells India Limited is relocating its switchgear production from Faridabad to Sahibabad to enhance operational synergy.
Cairn Oil & Gas joined UNEP’s OGMP 2.0 methane reduction initiative, committing to a 5-year methane reduction target to achieve net-zero emissions by 2030.
Shree Cement Limited announced the amalgamation of its subsidiaries Shree Cement North Private Limited and Shree Cement East Private Limited effective November 4, 2024.
Dixon Technologies (India) Limited incorporated a wholly-owned subsidiary, Dixon Teletech Private Limited, focusing on manufacturing IT hardware components.
The Sandur Manganese & Iron Ores Limited approved acquiring an additional 19.12% equity in Arjas Steel Private Limited, increasing ownership to 99.12%, expected to complete by November 15, 2024.
ICICI Lombard General Insurance Company Limited acquired shares in Tata Consultancy Services valued at ₹3.32 billion and Infosys valued at ₹3.09 billion as part of regular business operations.
Gateway Distriparks Limited launched Double Stack Rail services at its Inland Container Depot in Faridabad, increasing capacity by up to 30% per trip via the Western Dedicated Freight Corridor.
AZAD Engineering Limited entered a 5-year contract with Mitsubishi Heavy Industries to supply advanced airfoils for gas and thermal power turbine engines, valued at approximately USD 82.89 million.
APAR Industries Limited registered its wholly-owned subsidiary, APAR Industries LATAM LTDA, in São Paulo, Brazil, focusing on trading conductors, pending regulatory approvals.
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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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