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2025-01-17 09:02:07 am | Source: ARETE Securities Ltd
The Markets are expected to open marginally lower today as trendsin GIFT NIFTY indicate a negative start - ARETE Securities Ltd

Market Updates

The markets are expected to open marginally lower today as trendsin GIFT NIFTY indicate a negative start for the broader index afterNIFTY closed 98 points higher at 23,311 on Wednesday.

Bharat Dynamics:

The company secured a Rs.2,960 crore contract with the Ministry of Defencefor MRSAM supply to the Indian Navy.

Delhivery:

The company launched "Rapid Commerce," a sub-2-hour delivery service inBengaluru, processing 300+ daily orders for D2C and e-commerce brands.

EMS:

The company received a Rs.105.08 crore contract from Deltabulk Shipping Indiafor developing and maintaining a Multimodal Logistics Park at Nagpur.

Garuda Construction:

The company secured its largest-ever order of Rs.1,087.34 crore fromGorakhpur Development Authority, raising its order book to Rs.2,830 crore.

Gensol Engineering:

The company tied up with Refex eVeelz for transferring 2,997 e4Ws worth?315 crore, enhancing electric mobility in major cities via Blu-Smart.

Indian Renewable Energy Development Agency (IREDA):

The company signed a JV agreement for a 900 MW hydroelectric project inNepal, investing 5% equity (~Rs.174.22 crore).

Mastek:

The company reported Q3 FY25 results with sales up +12% YoY (+1% QoQ) to Rs.879 crore, EBITDA up +5% YoY (-1% QoQ) to Rs.141 crore, and net profit up+22% YoY (-26% QoQ) to Rs.95 crore.

Powergrid Corporation:

The company acquired Gadag II & Koppal II Transmission Limited (100%stake) for Rs.13.24 crore, expanding its transmission business in Karnataka.

Shalby:

The company launched India's largest Tissue & Bone Bank at Krishna ShalbyHospital, Ahmedabad, inaugurated by Shri Amit Shah, enhancing healthcareinnovation.

Sterling and Wilson Renewable Energy:

The company reported Q3 FY25 results with sales up +215% YoY (+78% QoQ)to Rs.1,837 crore, EBITDA up +630% YoY (+43% QoQ) to Rs.73 crore, and netprofit down -127% YoY (+89% QoQ) to Rs.17 crore.

TVS Motor Company:

The company announced its entry into Morocco, launching the TVS Apache160/200, TVS Ntorq 125, and TVS Raider 125, leveraging Hindi Motors'distribution network.

Waaree Renewable Technologies:

The company reported Q3 results with revenue up +11% YoY to Rs.360 crore (-31% QoQ), net profit down -17% YoY to Rs.53 crore (0% QoQ), and expenses up+28% YoY to Rs.293 crore (-36% QoQ).

 

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