Microcap Minute Free Newsletter #6

Welcome to the Microcap Minute Newsletter!

Each edition delivers a curated roundup of essential updates—from order wins to 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.

This edition is a 2-part newsletter

• Major Order Wins

• All Caps Updates

So grab a cup of coffee, settle in, and let’s dive into this week’s market happenings!

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Major Order Wins between 18th November 2024 to 23rd November 2024

• Rail Vikas Nigam Limited (RVNL):

  • In a joint venture with SCPL, RVNL received a Letter of Acceptance from Eastern Railway for a ₹837.67 crore project involving earthwork, bridge construction, retaining walls, track work, and ancillary works for a multi-tracking BG line between Kalipahari and Pradhankhuta, to be completed within 36 months, with RVNL holding a 74% stake.

  • Received a Letter of Acceptance from South Central Railway for an EPC contract worth ₹294.95 crore (inclusive of GST) to double a 33.7 km track section between Navipet and Indalvai stations in Telangana, including electrification and signaling, as part of the Mudkhed-Medchal Doubling Project, to be completed within 24 months.

• RITES Limited has received revised estimates from Northeast Frontier Railway, increasing the project cost for the Railway Electrification work of the Lumding-Badarpur section to ₹531.77 crore (excluding GST) from the original ₹288.44 crore, involving turnkey electrification work for the Lumding Division.

• H.G. Infra Engineering Limited (HGINFRA) received a Letter of Award from NTPC Vidyut Vyapar Nigam Limited for setting up a 500 MW/1000 MWh standalone battery energy storage system in India under tariff-based global competitive bidding, valued at a tariff rate of ₹238,000 per MW/month, with a completion period of 1.5 years.

• Dev Information Technology Ltd (DEVIT) secured an order worth approximately ₹84.5 lakh from Bhavnagar Municipal Corporation for the annual maintenance and new development of the online property tax system, to be executed over 3-4 years.

• Zaggle Prepaid Ocean Services Limited:

  • Entered a 3-year agreement with Golden Jasraj Music Platforms Pvt. Ltd. to launch a co-branded prepaid card program called “Cultural & Tourism Prepaid Card Program” targeting corporate customers and their users.

  • Entered a Supplier Framework Agreement with Strada India Pvt. Ltd. to offer its SaaS platform, payment, and card products to Strada’s corporate customers, covering both domestic and international operations.

• RPP Infra Projects Ltd secured a Letter of Acceptance from Bhabha Atomic Research Centre for a ₹21.83 crore project involving the construction of service-supporting structures, RCC culverts, sewer lines, and associated works at the FRFCF project site in Kalpakkam, Tamil Nadu, to be completed within 18 months.

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• NBCC (India) Limited:

  • Received a work order worth approximately ₹202 crore from Rajasthan State Industrial Development & Investment Corporation Ltd. (RIICO) for Project Management Consultancy Services for constructing Unity Mall (PM Ekta Mall) in Jaipur, Rajasthan.

  • Received work orders worth approximately ₹112 crore from the ST & SC Development, Minorities, and Backward Classes Welfare Department for upgrading various schools in Odisha, including high schools and education complexes in districts like Malkangiri, Koraput, and Nuapada.

• Afcons Infrastructure Limited received a Letter of Acceptance from Uttarakhand Project Development and Construction Corporation Ltd for constructing a 130.6m high concrete gravity dam across the River Song in Dehradun, Uttarakhand, valued at ₹1,274 crore (excluding GST), to be executed on an EPC basis over 60 months.

• Bharat Global Developers Ltd.:

  • Its wholly owned Dubai subsidiary secured multiple high-value orders worth approximately AED 109 million (₹251 crore) for processing and supplying precious stones like diamonds and emeralds, and refining and supplying metals like gold and palladium to global clients.

• HEC Infra Projects Limited received a work order worth ₹3.75 crore from Ahmedabad Municipal Corporation for constructing a water distribution station in Naroda Ward, North Zone, Ahmedabad, scheduled for completion within 18 months.

• RailTel Corporation of India Ltd. secured a work order from the Central Medical Services Society (CMSS), Ministry of Health and Family Welfare, for manpower outsourcing services valued at ₹9.93 crore (inclusive of taxes), scheduled for completion by December 1, 2026.

• Tata Technologies Limited signed a Memorandum of Agreement with the Government of Tripura to upgrade 19 ITIs over 5 years and 9 months (extendable by another 5 years), valued at ₹95.65 crore, including new trades, infrastructure development, and training services to enhance skill development in the region.

• BEML Limited secured a ₹246.78 crore order from Central Coalfields Limited to supply 48 BH60M Rear Dump Trucks along with spares, consumables, and after-sales support for five years, featuring advanced safety and efficiency systems manufactured largely at BEML’s Mysuru facility.

• Azad Engineering:

  • Secured a ₹700 crore, 5-year contract with Mitsubishi Heavy Industries for airfoils.

  • Won a $16 million aerospace and defense components order from Honeywell.

  • Signed a multi-year contract with Siemens Energy for energy sector components.

  • Secured a ₹340 crore agreement with Arabelle Solutions for nuclear power generation components.

  • Signed an MoU with Baker Hughes to establish a manufacturing facility in Saudi Arabia.

  • Expanded its order book to ₹4,500 crore, showcasing robust growth and strong customer partnerships.

• JSW Steel Limited has been declared the “Preferred Bidder” for the Codli Mineral Block-XII in Goa, with a bid of 92.60% of the “Value of Mineral Dispatched,” covering 48.5 million tonnes of iron ore resources and 2.7 million tonnes of ore in dumps, proceeding with statutory clearances to commence mining.

• Garden Reach Shipbuilders & Engineers Ltd. (GRSE) signed a ₹226.18 crore contract with the West Bengal Transport Department for designing, constructing, operating, and maintaining 13 hybrid electric ferries for the River Hooghly, including six twin-deck ferries (200 passengers each) and seven single-deck ferries (100 passengers each), featuring advanced hybrid propulsion systems.

• Ashoka Buildcon Limited has been declared the Lowest Bidder for two NHAI projects in West Bengal under the Hybrid Annuity Mode, with a combined bid price of ₹2,791 crore (excluding GST), involving the development of 4-lane economic corridors from Kharagpur to Chandrakona-Ghatal and from Bowaichandi to Guskara-Katwa, both to be completed within 910 days including monsoon periods.

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All Caps Updates between 18th November 2024 to 23rd November 2024

• Marksans Pharma Limited has received USFDA approval for its ANDA for Loratadine Tablets USP 10 mg, a generic version of Bayer’s Claritin, strengthening its position in the OTC pharmaceutical market.

• NLC India Limited has been declared the highest bidder for the New Patrapara South Coal Mine in Angul, Odisha, with geological reserves of approximately 720.87 million tonnes and a peak capacity of 12 MTPA, marking its third commercial coal mine acquisition.

• National Fertilizers Limited (NFL) is set to produce a new variant of Hi-Tech Nano Urea at its Nangal plant, capable of manufacturing 1.5 lakh 500 ml bottles per day using advanced nano technology to enhance nutrient uptake and reduce greenhouse gas emissions.

• SeQuent Scientific Limited has acquired additional stakes to make N-VET AB (Sweden) and Alivira Italia SRL (Italy) wholly owned subsidiaries by purchasing 3.90% and 5.00% stakes for SEK 344,000 and EUR 15,000 respectively, enhancing control over its European animal healthcare operations.

• Paras Defence & Space Technologies Ltd inaugurated an advanced optical systems testing facility in Navi Mumbai, focusing on hyperspectral and other optical systems for space, defence, and commercial applications, and plans to invest ₹500 crore to develop India’s first advanced Optical Systems Development Park.

• Revolt Motors, a subsidiary of RattanIndia Enterprises Limited, has expanded its dealership network to 153 locations with 14 new dealerships across India, promoting its electric motorcycles RV1, RV1+, and RV400 to advance sustainable transportation.

• RateGain Travel Technologies Limited has launched Demand Booster, an AI-powered digital marketing solution integrated with its Hotel Commerce Cloud UNO, to help hotels maximize direct bookings and improve ROAS by simplifying multi-channel marketing and automating bidding strategies.

• Crompton Greaves Consumer Electricals Limited launched a new B2C lighting product, the Twist T Lamp, on November 20, 2024, catering exclusively to the domestic market.

• Coal India Limited (CIL) introduced a policy to supply coal beyond the annual contracted quantity to non-regulated sector customers in long-term linkage auctions from Tranche VIII, including measures like interplant coal transfer and mode swapping without extra cost.

• Natco Pharma Limited submitted an ANDA with the US FDA for a generic version of EVRYSDI® (Risdiplam) 0.75 mg/mL Oral Solution for spinal muscular atrophy, being among the first to file a paragraph IV certification and potentially eligible for 180 days of shared exclusivity.

• TVS Motor Company launched a new 2.2 kWh battery variant of its electric scooter, TVS iQube, in Nepal, offering features like fast charging and advanced navigation, expanding its EV lineup to three variants in the Nepalese market.

• Power Finance Corporation Limited (PFC), through its subsidiary PFCCL, incorporated Bhuj ICT Transmission Limited to develop a transmission project for ICT augmentation and a bus reactor at Bhuj-II Power Station, to be transferred to the successful bidder via tariff-based competitive bidding.

• Tata Power signed an MoU with the Asian Development Bank to explore financing for clean energy and power infrastructure projects worth approximately $4.25 billion, supporting India’s energy transition goals with projects like solar-wind hybrids and pumped hydro storage.

• ICICI Prudential Life Insurance approved investing up to ₹10 crore in Bima Sugam India Federation, a not-for-profit company creating a centralized marketplace for insurance products, aligning with IRDAI’s “Insurance for All” goal by 2047.

• SJVN Limited signed an MoU with the Energy Department of Rajasthan to develop 5 GW Pumped Storage Projects and 2 GW Floating Solar Projects, advancing renewable energy in the state.

• Emami Limited completed the acquisition of the remaining 1.7% stake in its subsidiary Helios Lifestyles Pvt Ltd, making it a wholly owned subsidiary.

• Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) signed an MoU with INEOS Acetyls International Ltd. to form a joint venture for constructing a 600 kt acetic acid plant at GNFC’s Bharuch site by 2028.

• AIA Engineering Limited‘s subsidiary Vega Industries (Middle East) FZC acquired an additional 13% stake in Vega MPS Pty Limited, Australia, for AUD 2.13 million, increasing its holding to 51% in the mining liners and services supplier.

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• Adani Energy Solutions Limited (AESL) agreed to acquire 100% equity in Pune-III Transmission Limited from PFC Consulting Limited to establish substations and transmission lines for evacuating 7 GW of renewable energy from Khavda RE Park.

• EaseMyTrip partnered with BNZ Green to integrate real-time carbon footprint tracking and a blockchain-based carbon offset program into its platform, enabling travelers to calculate emissions and purchase carbon credits for sustainable travel.

• Bharti Airtel signed a multi-billion, multi-year extension deal with Nokia to deploy 4G and 5G equipment across key regions in India, using Nokia’s AirScale portfolio to enhance capacity, coverage, and energy efficiency.

• TARC Limited approved the premature redemption of its existing NCDs and plans to issue new NCDs worth ₹470 crore on a private placement basis with a five-year tenure, to be listed on the BSE.

• Power Finance Corporation Limited (PFC), via PFCCL, incorporated MEL Power Transmission Limited as a wholly owned subsidiary to manage the transmission system for evacuating power from Mahan Energen Limited Generating Station in Madhya Pradesh.

• Godawari Power & Ispat Limited (GPIL) acquired a 51% stake in Jammu Pigments Limited at a post-money valuation of ₹500 crore, entering the non-ferrous metals recycling business, with the transaction expected to complete by March 31, 2024.

• Godrej Properties Limited acquired a 53-acre land parcel in Joka, Kolkata, for a residential plotted development of 1.3 million sq ft with an estimated revenue potential of ₹500 crore.

• Grasim Industries’ Birla Opus Paints commenced commercial production at its fourth plant in Chamarajanagar, Karnataka, increasing total capacity to 866 MLPA, making it the second-largest decorative paint player by capacity.

• Sansera Engineering Limited‘s associate MMRFIC Technology Pvt Ltd won the iDEX Prime X Challenge to develop a 200-Watt Ka-band Solid State Power Amplifier for satellite ground stations, securing a ₹10 crore grant.

• Bharat Forge Limited is negotiating with the Ministry of Defence for the procurement of the 155mm/52cal Advanced Towed Artillery Gun System and Gun Towing Vehicles for the Indian Army, with the process expected to conclude by end of FY 2024-25.

• LTIMindtree extended its partnership with Nexi Group to enhance Nexi’s core platforms and manage its hybrid infrastructure, aiming to improve resilience and scalability with support from over 800 associates.

• Oil India Limited (OIL) and TotalEnergies signed agreements to deploy drone-mounted methane detection technology at OIL sites and to focus on drilling stratigraphic wells offshore India, aiming for near-zero methane emissions by 2030.

• Shilpa Pharma Lifesciences Limited, a subsidiary of Shilpa Medicare Limited:

  • Received a CEP from the EDQM for the API Nifedipine, a calcium-channel blocker used as an antihypertensive and anti-anginal medication.

  • Received a CEP from the EDQM for the API Octreotide, a synthetic peptide used to treat acromegaly and certain tumors.

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• Havells India Limited will establish a new refrigerator manufacturing facility in Ghiloth, Rajasthan, with a capacity of 1.4 million units by Q2 FY27, investing approximately ₹480 crore to achieve backward integration and economies of scale.

• Century Plyboards (India) Ltd. increased its stake in Century Infotech Ltd. from 99.99% to 100%, making it a wholly owned subsidiary.

• DCM Shriram Ltd. commissioned a 2100 TCD expansion of its sugar plant at the Loni Unit, Uttar Pradesh, increasing cane crushing capacity to 9400 TCD effective November 19, 2024.

• Aditya Birla Capital Limited (ABCL) invested ₹100 crore in its wholly owned subsidiary Aditya Birla Capital Digital Limited to support growth, maintaining its 100% shareholding.

• JSW Steel Italy SrL, a subsidiary of JSW Steel Ltd, signed a commercial agreement with Metinvest Adria S.p.A., with Metinvest paying €30 million for rights transfer to support modernization at the Piombino Industrial Site.

• Info Edge (India) Ltd. will invest ₹3 crore in its step-down subsidiary NewInc Internet Services Pvt. Ltd. by purchasing 3,00,000 CCDs at ₹100 each to support working capital needs.

• State Bank of India (SBI) conducted bidding for its ₹10,000 crore Long Term Bond Issuance (Series 3 for FY 2024-25) at a coupon rate of 7.23%, with bonds to be listed on BSE and NSE, allotment on November 19, 2024.

• PG Electroplast Ltd, through subsidiary PG Technoplast Pvt. Ltd., signed an agreement with Spiro Mobility to exclusively manufacture electric vehicles and lithium-ion batteries in India.

• NTPC Limited and ONGC jointly incorporated ONGC NTPC GREEN PRIVATE LIMITED as a 50:50 JV to develop renewable energy projects including offshore wind and energy storage solutions.

• Indegene Limited established a new delivery center in Hyderabad to enhance global operations, supporting pharma companies in modernizing commercialization and clinical operations.

• Suzuki Motor Corporation and Tata Elxsi launched the SUZUKI-TATA ELXSI Offshore Development Center in Pune to innovate in automotive engineering and green mobility solutions.

• APAR Industries Limited will expand its Continuous Transposed Conductor production capacity to 20,490 MT annually by Q3 FY26, tripling current levels to meet increased demand.

• NIIT Learning Systems Limited (NIIT MTS) received the Gold Standard accreditation by the Learning and Performance Institute for the 9th consecutive year for its managed learning services.

• L&T Technology Services (LTTS) partnered with the Colorado Smart Cities Alliance to accelerate smart city technology adoption in Colorado, focusing on transportation and infrastructure.

• Nava Limited updated on mineral exploration projects in Zambia and Côte d’Ivoire for resources like iron ore, lithium, and manganese, with detailed drilling planned over the next 2-3 years.

• Reliance Group launched the Reliance Group Corporate Centre under Vision 2030 to drive innovation and mentor leaders, with plans including renewable energy projects and fundraising of ₹17,600 crore.

• Aarti Drugs Limited resumed manufacturing at its T-150 unit in Tarapur, Maharashtra, after complying with safety recommendations and receiving regulatory approvals.

• PTC Industries acquired a Hot Rolling Mill from the USA to enhance titanium alloy plate and sheet production for aerospace and defense, establishing a vertically integrated value chain.

• Datamatics Global Services Ltd. incorporated a wholly owned subsidiary, Datamatics Global Services LLC-FZ, in Dubai with share capital of AED 50,000 to enhance its UAE market presence.

• Persistent Systems Limited completed the acquisition of identified assets of SoHo Dragon Inc. on November 16, 2024, aligning with its strategic objectives.

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