• Nifty hits a 2-month high this week, led by Bajaj Finserv.
• Nifty Midcap & Smallcap indices reach a 1-month high.
• Nifty PSU Bank hits a 1-month high; top sectoral gainer.
• Nifty Bank touches this year’s high, with Bank of Baroda & Kotak Bank leading gains.
• Nifty FMCG advances for the 2nd consecutive week, driven by Radico & Godrej Consumer.
• Nifty Pharma snaps a 3-week gaining streak; Cipla & Dr. Reddy’s lead declines.
• Nifty Auto drops over 2% this week, with M&M & Tata Motors leading losses.
• Nifty Metal reaches this year’s high but closes in the red
Order Win
• SUPREME POWER: Secured an order worth ₹3.43 crore from a Coimbatore-based solar energy company.
• VALIANT COMMUNICATIONS: Secured export orders worth ₹7 crore from power utilities in the USA and Europe.
• BAJAJ STEEL: Secured an export order worth ₹43 crore (USD 5.03 million) for cotton ginning and processing machinery.
• ULTRACAB: Secured a ₹9.7 crore annual rate contract from Adani Electricity Mumbai.
• NTPC: Declared the commercial operation of 245 MW capacity from its Nokh Solar PV Project in Rajasthan.
Acquisition
• KRISHNA DEFENCE: Acquired 2,500 equity shares in Waveoptix Defence Solutions Private Limited, increasing its stake to 40%.
• MUKKA PROTEINS: Acquired GSM Marine Export, which recorded a revenue of ₹32.35 crore in FY 2023-24.
• MOBIKWIK: Incorporated Mobikwik Securities Broking Private Limited as a wholly-owned subsidiary.
• JSW STEEL: Transferred its Slurry Pipe Line business to JSW Infrastructure Limited for ₹1,617 crore.
Collaboration
• INTELLECT DESIGN: Formed a strategic alliance with LTIMindtree to transform financial services across MEA & APAC with eMACH.ai.
• EASEMYTRIP: Signed an MoU with Tourism New Zealand to enhance Indian tourist arrivals.
• EXICOM TELE-SYSTEMS: Partnered with IONAGE to create an accessible EV charging network in India.
Leadership Changes
• IRIS BUSINESS: Announced the sudden demise of Mr. S. Swaminathan, CEO, and appointed Mr. Krishnan Balachandran as interim CEO.
• VEDANTA: Appointed Mr. Rajiv Kumar as CEO of the Aluminium Business.
• R SYSTEMS: Announced the resignation of its Chief Operating Officer, Mandeep Sodhi.
• BKM INDUSTRIES: Announced the resignation of Mr. Yashvardhan Mukim as Managing Director and Director.
New Projects
• Gujarat Ambuja: Commenced commercial production at its Maize Processing Unit in Sitarganj, Uttarakhand.
• NTPC: Declared the commercial operation of its 245 MW Nokh Solar PV Project.
• Maruti: Approved setting up a third plant at Kharkhoda with a capacity of up to 2.5 lakh vehicles per year.
Fundraising
• MUTHOOT FINANCE: Approved the issuance of $250 million in Senior Secured Notes due 2029.
Bought/Sold
• JSW STEEL: Transferred its Slurry Pipe Line business to JSW Infrastructure Limited.
Credit Ratings
• INFO EDGE: Received an Income Tax Assessment Order for ₹17.05 crore under Section 143(3) for FY 2023-24.
Miscellaneous
• SANGAM INDIA: Reported a fire incident at its Denim Division in Bhilwara, with an estimated loss of ₹20-25 crore.
• BSE: The board will meet to consider a bonus issue.
• COAL INDIA: The Coal Ministry plans to launch the 12th Tranche of Commercial Coal Mine Auctions.
Clarification
• ASHOK LEYLAND: Clarified that news regarding its acquisition of SML Isuzu is factually incorrect.
Tax Order
• INFO EDGE: Received an Income Tax Assessment Order for ₹17.05 crore under Section 143(3) for FY 2023-24.
Additions:
• New Product/Service Launches:
o BHARTI AIRTEL: Launched IPTV services across 2000 cities in India.
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