Here’s a quick, plain‑English roundup of today’s Indian market news – earnings, big deals, and share moves you should know.
Today’s Earnings Releases
- Indian Renewable Energy Development Agency (IREDA)
- Tejas Networks
- Globus Spirits
Upcoming Earnings (Jan 10)
- Avenue Supermarts (DMart)
- Gretex Corporate Services
- Gayatri Projects
- Hawa Engineers
Recent Quarterly Numbers
- Elecon Engineering: Q3 profit down 33% to ₹72 cr (from ₹107.5 cr). Revenue up 4.3% to ₹551.7 cr.
- SML Mahindra (Dec): Commercial vehicle sales jumped 76.9% to 1,019 units; production rose 39.1% to 1,455 units.
Major Corporate Moves
- Bajaj Finserv completed a buy‑back of a 23% stake in Bajaj General Insurance and Bajaj Life Insurance from Allianz for about ₹21,390 cr, raising its ownership to 97% and giving it full control.
- Bharat Forge signed an MoU with Germany’s Agile Robots SE to explore AI‑driven robotics and smart factory automation.
- Astra Microwave Products secured a ₹275.27 cr order from the Indian Air Force for software‑defined radios on MiG‑29 and LCA Mk‑1A aircraft.
- Waaree Renewable Technologies received a revised award for a 704 MWac solar project, with the contract value cut to ₹1,039.60 cr.
- Andhra Cements promoter Sagar Cements will sell up to 7.5 million shares (8.14% stake) at a floor price of ₹72 per share to meet public‑shareholding norms.
- Prestige Estates Projects (via Canopy Living LLP) signed an agreement to buy 16.38 acres of land in Padi, Chennai.
- Rail Vikas Nigam got a ₹201.2 cr order from East Coast Railway to set up a wagon workshop in Kantabanji.
- NHPC cleared a plan to raise up to ₹2,000 cr through non‑convertible, non‑cumulative bonds.
- Devyani International sold its 51% stake in Peanutbutter & Jelly to Heritage Foods, exiting the business.
- Ugro Capital approved the merger of its subsidiary Profectus Capital with the parent company.
- Morepen Laboratories obtained a stay on a ₹118 cr tax notice from the GST & Excise authorities.
- Bharat Electronics added ₹596 cr of orders for drone‑detection, communication terminals, and related services.
- BHEL secured a ₹5,400 cr contract for a coal‑to‑ammonia plant in Odisha, a joint venture with Coal India.
- Power Grid Corp. won a project to build a 400 kV transmission line in Karnataka to support new renewable capacity.
- Highway Infrastructure signed a deal with NHAI to operate the Kaza fee plaza on NH‑16, taking over on Jan 23.
- Reliance Industries board meeting set for Jan 16 to review Q3 results.
Bulk Deals and Shareholder Actions
- Unicorn Fund bought 95,000 shares of Maruti Interior Products at ₹211.02 each (≈₹2 cr). Greenx Wealth bought 125,000 shares at ₹208 each (≈₹2.6 cr).
- NV Alpha Fund purchased 325,000 shares of Kross at ₹217.26 each, a 0.5% stake worth ₹7.06 cr.
- Ex‑date notices were issued for Viram Suvarn (rights), Antariksh Industries (bonus), and Energy Infrastructure Trust (InvIT income).
Disclaimer
Remember, this is my perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.