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India
Today’s trading session is expected to witness notable activity in several stocks due to earning reports, strategic deals, government contracts, and regulatory developments.
Let’s take a deep dive into the market’s key movers.
KSB, Sanofi India, and Schaeffler India are set to announce their quarterly earnings today. Market participants will closely track their financial performance for potential trading cues.
Corporate Developments & Investments
Bharti Airtel & Tata Play Merger Talks
Bharti Airtel and Tata Group are in discussions regarding a possible merger of Tata Play’s Direct-to-Home (DTH) business with Bharti Telemedia. The deal is expected to reshape the broadcasting and telecom landscape.
KPI Green Energy’s Renewable Push
KPI Green Energy has signed an MoU with the Madhya Pradesh government to set up solar, wind, hybrid, battery energy storage systems (BESS), and biomass-based projects.
Tata Power’s Rs 30,000 Cr Green Energy Plan
Tata Power has partnered with the Assam government to develop 5,000 MW of renewable energy projects over five years, reinforcing India’s clean energy transition.
Adani Green Secures 1,250 MW Energy Storage Contract
Adani Saur Urja (a subsidiary of Adani Green Energy) has won a 1,250 MW pumped hydro storage contract from the Uttar Pradesh Power Corporation. The project has a 40-year agreement with an annual fixed cost of Rs 76.53 lakh per MW.
Waaree Energies Bags 410 MWp Solar Order
Waaree Energies secured an order to supply solar modules for 410 MWp from ABREL EPC, a subsidiary of Aditya Birla Renewables. Meanwhile, its office was raided by Mumbai tax authorities, but operations remain unaffected.
Mergers & Acquisitions
UltraTech Cement Finalizes Kesoram Deal
UltraTech Cement’s merger with Kesoram Industries will take effect on March 1, 2025. The company is also investing Rs 1,800 crore in a new cables plant in Gujarat, to be completed by December 2026.
TV Today Exits FM Radio Business
TV Today Network has agreed to sell its FM radio operations in Mumbai, Delhi, and Kolkata to Creative Channel Advertising for Rs 20 crore. The deal will close by January 2026.
Varun Beverages Extends Ghana Acquisition Timeline
Varun Beverages’ acquisition of SBC Beverages Ghana, initially set for February 28, has been extended to March 31. The deal is valued at Rs 127.1 crore.
Regulatory & Legal Updates
Dr. Reddy’s Laboratories received an Establishment Inspection Report (EIR) from the US FDA for its Hyderabad API manufacturing facility, concluding the inspection with a Voluntary Action Indicated (VAI) status.
Emcure Pharmaceuticals:
Emcure’s Pune API facility underwent a US FDA inspection and received two observations under Form 483, signaling areas for improvement.
Godrej Properties Faces CBI FIR
Godrej Estate Developers is under investigation by the CBI for alleged environmental violations related to its Godrej Eternia project near Sukhna Wildlife Sanctuary.
Delhivery Gets Rs 5.89 Cr Tax Notice
Delhivery received a demand order from the West Bengal Commercial Taxes Directorate for tax dues, including penalties, for FY 2020-21.
Contracts & Government Deals
G R Infraprojects to Develop Guwahati Ropeway
The Assam government has partnered with G R Infraprojects to develop a ropeway project from Sonaram field to Bhubaneshwari temple, with an investment of Rs 270 crore.
Mahindra EPC Irrigation Wins Micro-Irrigation Contract
Mahindra EPC Irrigation secured contracts worth Rs 11.79 crore for micro-irrigation systems under a community irrigation project.
Cupid’s Rs 42 Cr Condom Supply Order
Tanzania’s Medical Stores Department placed an order with Cupid for male condoms worth Rs 42 crore, reinforcing its position in the global contraceptive market.
Bulk Deals & Market Movements
Goldman Sachs Exit
Goldman Sachs Funds offloaded 89,314 equity shares of TeamLease Services at Rs 1,960 per share, impacting market sentiment.
Greenpanel Industries Expands Production
Greenpanel Industries commissioned its new MDF plant in Tirupati, Andhra Pradesh, with a 2.31 lakh CBM per annum capacity.
Strategic Investments & Fundraising
Wipro Ventures Gets $200M Boost
Wipro announced a $200 million commitment to its venture arm to accelerate investments in startups, marking its fourth funding round.
Utkarsh Small Finance Bank Plans Rs 750 Cr Fundraising
Utkarsh Small Finance Bank will raise up to Rs 750 crore via Qualified Institutional Placements (QIP), preferential issue, or private placements.
Manba Finance Joins Hands with Bgauss Auto
Manba Finance signed an agreement with Bgauss Auto to offer non-exclusive retail financing for Bgauss Auto customers.
Ceigall India’s Road Project Termination
Ceigall India’s joint venture contract with NHAI for a four-lane Amritsar Greenfield connectivity project has been terminated. NHAI will compensate 1% of the Rs 1,071 crore contract value as damages.
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