Microcap Minute Free Newsletter #5

Welcome to the Microcap Minute Newsletter!

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

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

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All Caps Updates between 11th November 2024 to 16th November 2024

• Cyient has partnered with Allegro MicroSystems to establish a Center of Excellence in Hyderabad, housing over 100 engineers to develop next-generation magnetic sensors and power semiconductor products for the automotive industry, supporting innovation in electric vehicles, ADAS, and clean energy solutions.

• Man Infraconstruction Limited (MICL Group) has realigned its portfolio to focus on luxury residential projects in prime Mumbai locations like Pali Hill, BKC, Vile Parle, and Marine Lines, and has divested development rights for Phase 3 of Aaradhya Highpark to improve cash flow and profitability.

• Tata Power has acquired a 100% stake in ERES-XXXIX Power Transmission Limited for ₹18.56 crore to develop and operate a transmission system in Odisha with a 765 kV double-circuit line, targeting commercial operation by December 31, 2027.

• Timken India Limited announced that its new manufacturing facility in Bharuch, Gujarat, for spherical and cylindrical roller bearings, will now have a total investment of ₹700 crore, with commercial production expected to start in Q4 FY 2024-25.

• HCLTech and ServiceNow have expanded their partnership by launching AI Labs in Noida and London to help customers pilot and scale AI-driven solutions using GenAI capabilities and tools like HCLTech AI Force, aiming to accelerate AI adoption and enhance enterprise service management.

• Reliance Industries Limited and The Walt Disney Company have merged Viacom18’s media and JioCinema with Star India Private Limited to form a media entity valued at ₹70,352 crore, with Reliance investing ₹11,500 crore, creating one of India’s largest media and entertainment entities chaired by Nita Ambani, offering platforms like Star, Colors, JioCinema, and Hotstar.

• Nippon India Mutual Fund launched two new index funds—the ‘Nippon India Nifty Auto Index Fund’ and the ‘Nippon India Nifty Realty Index Fund’—on November 14, 2024, targeting investors interested in the auto and realty sectors in India.

• Honasa Consumer Ltd. is optimizing its distribution model with “Project Neev,” shifting from super-stockists to direct distributors in the top 50 cities to strengthen its offline go-to-market strategy and improve inventory visibility, focusing on core categories and expanding emerging brands like The Derma Co., Aqualogica, BBlunt, and Dr. Sheth’s, all achieving over 30% growth.

• The Great Eastern Shipping Company Limited has completed the sale of its 2005-built Suezmax crude tanker “Jag Lalit,” reducing its fleet to 40 vessels, and plans to deliver one additional MR product tanker by H2 FY25.

• India Glycols Limited (IGL) has partnered with Amrut Distilleries to produce and distribute premium Amrut brands like MaQintosh Whisky and Old Port Rum in North India, aiming to expand its presence in the premium alcoholic beverages market.

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• Gravita India Limited:

  • Its step-down subsidiary Gravita Netherlands BV will acquire an additional 30.15% stake in Navam Lanka Limited for USD 2.4 million, making it a wholly owned subsidiary.

• Nazara Technologies Limited:

  • Partnered with ONDC to launch “gCommerce,” an in-game monetization platform integrating e-commerce within games, offering new revenue streams for developers through affiliate revenue-sharing, available from Q1 FY26.

  • Extended the timeline for acquiring a 47.71% stake in Moonshine Technology Private Limited to November 30, 2024.

• KFin Technologies Limited has joined BlackRock’s Aladdin Provider community to offer enhanced fund administration services to global asset managers, focusing on improved connectivity, transparency, and operational efficiency.

• Sterlite Technologies Limited (STL), in partnership with Dilip Buildcon Limited, secured the ₹2,600 crore BharatNet III project for Jammu & Kashmir, including ₹1,625 crore capex and ₹975 crore for operations and maintenance, to expand high-speed broadband using advanced fiber deployment technology.

• Vedant Fashions Limited received NCLT approval to amalgamate its wholly owned subsidiary Manyavar Creations Private Limited into Vedant Fashions, effective April 1, 2024, to streamline the group structure and enhance operational synergies.

• Century Plyboards (India) Ltd. plans to establish a resin and formaldehyde manufacturing unit in Hoshiarpur, Punjab, with capacities of 200 MTPD for formaldehyde and 250 MTPD for resin, investing approximately ₹42 crore, expected operational by September 2026.

• Tata Communications is selling its entire stake in its wholly owned subsidiary Tata Communications Payment Solutions Limited to Transaction Solutions International (India) Pvt Ltd for ₹330 crore plus additional consideration, transferring TCPSL’s white-label ATM network, pending regulatory approval and expected completion by end of FY 2024-25.

• NHPC Limited announced that all four units of the 800 MW Parbati-II Hydroelectric Project in Himachal Pradesh are expected to be fully commissioned by March 2025.

• Tata Power Renewable Energy Limited (TPREL) has commissioned a 126 MW floating solar project in Omkareshwar, Madhya Pradesh, reducing carbon emissions by approximately 173,893 tonnes annually and contributing to its total 10.9 GW renewable capacity portfolio.

• Max Healthcare Institute Limited has completed the acquisition of Jaypee Healthcare Limited by purchasing an additional 36.35% stake for approximately ₹227 crore, making JHL a wholly owned subsidiary as of November 11, 2024.

• Aurobindo Pharma‘s subsidiary CuraTeQ Biologics received a GMP compliance certificate from the EMA for its biosimilars manufacturing facility in Hyderabad, supporting approval efforts for three biosimilars in Europe.

• UPL Corp and CAC Nantong have agreed to jointly develop, register, and commercialize a novel insecticide, cyproflanilide, targeting pest resistance in crops like rice, corn, and soybeans, with approvals expected over the next three years.

• Power Finance Corporation Limited‘s subsidiary PFC Consulting Limited has incorporated Wahipora and Sallar Transmission Limited to develop a grid substation and transmission infrastructure in Jammu and Kashmir, to be transferred to the successful bidder after preparatory activities.

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• Kajaria Ceramics Limited‘s joint venture Kajaria Ramesh Tiles Limited in Nepal secured a working capital facility of NPR 86 crores, with Kajaria providing a Standby Letter of Credit worth INR 20 crores via SBI in favor of Everest Bank.

• Exide Industries Limited invested approximately INR 100 crore in its wholly owned subsidiary Exide Energy Solutions Limited to support its lithium-ion battery cell manufacturing project in Bengaluru, bringing total investment to INR 2,952.24 crore.

• Birla Corporation Limited‘s subsidiary RCCPL Private Limited acquired a 3.12% stake in Continuum MP Windfarm Development Private Limited for ₹13.91 crore to source up to 12 MW of wind-solar power as a captive consumer.

• EaseMyTrip received the IATA GoGlobal accreditation, enabling international expansion by meeting global aviation standards and strengthening credibility with airlines.

• Alembic Pharmaceuticals:

  • Received final USFDA approval for Ivabradine Tablets (5 mg and 7.5 mg) for chronic heart failure, targeting a market of approximately $145.3 million.

  • Received final USFDA approval for Diltiazem Hydrochloride Extended-Release Capsules in multiple dosages for hypertension and angina, targeting a market of approximately $105.3 million, bringing cumulative USFDA ANDA approvals to 218.

• ABB India has upgraded its Faridabad manufacturing facility, achieving ‘Platinum level Green Factory’ certification, enhancing sustainability with renewable energy initiatives, and now produces high-efficiency IE3 and IE4 motors.

• The Sandur Manganese & Iron Ores Limited (SMIORE) completed the acquisition of Arjas Steel Private Limited, increasing its stake to ~99% in a deal valued at an enterprise value of ₹3,000 crore.

• C.E. Info Systems Limited (MapmyIndia) issued a corrigendum regarding its JV in Indonesia with Hyundai AutoEver, specifying a 40% stake acquisition for IDR 65.7 billion, correcting previously stated USD amounts.

• Adani Enterprises Limited‘s subsidiaries Mumbai Travel Retail Private Limited and Ospree International FZCO signed a JV agreement with Eurotunnel JV INC. to establish a company in the UAE, owned 51% by Ospree and 49% by ETJV.

• LTIMindtree opened a 6,500 sq ft facility in Houston, Texas, to foster innovation with clients in the energy and oil & gas sectors, supporting digital transformation, AI, and ESG solutions.

• Entero Healthcare Solutions Limited signed an MoU to acquire a 100% stake in Shree Enterprises, a pharmaceutical distributor, for up to INR 231.12 million, expected to complete by January 31, 2025.

• FSN E-Commerce Ventures Limited incorporated a wholly owned step-down subsidiary, Nysaa Distribution FZE, in Dubai to trade beauty and personal care products, with FSN holding an indirect 55% stake.

• Varun Beverages Limited (VBL) plans to acquire 100% stakes in SBC Beverages Tanzania Limited for USD 154.5 million and SBC Beverages Ghana Limited for USD 15.06 million, and to acquire the remaining 39.93% of Lunarmech Technologies Pvt. Ltd. for INR 2,000 million.

• Wipro Limited has collaborated with FORVIA to enhance ADAS applications using Wipro Engineering Edge’s Cloud Car solution, optimizing software to be hardware-independent and featuring surround-view technology.

• RattanIndia Enterprises Ltd. launched “Neomate,” a new premium yet affordable stationery brand under subsidiary Neobrands Limited, offering workspace essentials on Amazon India starting at INR 160.

• Gujarat Ambuja Exports Limited received environmental clearance to establish a 180 KLPD grain-based ethanol plant in Malda, West Bengal, with an investment of approximately INR 180 crore.

• VST Industries Limited completed shifting manufacturing operations to Toopran and approved exploring monetization options for the Azamabad property.

• TVS Motor’s subsidiary Norton Motorcycles announced leadership changes to strengthen its global market presence, with new executive appointments in upstream and downstream operations.

• Devyani International Limited (DIL) secured exclusive master franchise rights in India for Tealive, New York Fries, and SANOOK KITCHEN, expanding its QSR offerings.

• Maruti Suzuki India Limited launched the new Dzire sedan with redesigned features, advanced engine, segment-first amenities like an electric sunroof, achieving high fuel efficiency and a 5-star GNCAP safety rating.

• L&T Technology Services Limited (LTTS) will acquire 100% equity in Intelliswift Software (India) Private Limited and Intelliswift Software Inc. for up to USD 110 million, enhancing digital engineering capabilities.

• Simplex Castings Ltd., leading a consortium, was selected to develop India’s first vertical shaft DRI plant using 100% green hydrogen, supported by a government grant covering 70% of the INR 230 crore project cost.

• Info Edge‘s subsidiary Startup Investments (Holding) Ltd. will invest approximately ₹4 crore in LQ Global Services Pvt Ltd. (Legitquest), increasing its stake to an estimated 27.98%.

• Balaji Amines Limited commenced commercial production at its new methylamines plant in Solapur, Maharashtra, adding 40,000 TPA capacity with updated technology.

• Biocon Biologics‘ facilities at Biocon Park in Bengaluru were classified as “Voluntary Action Indicated” by the US FDA, affirming compliance with global quality standards.

• HealthCare Global Enterprises Limited (HCG) will acquire the oncology business of its subsidiary HCG NCHRI Oncology LLP in Nagpur for up to INR 25 crore, effective December 1, 2024.

• Krishna Institute of Medical Sciences (KIMS) entered a 15-year agreement with Insignia Healthcare to operate a 150-bed super-specialty hospital in Guntur, Andhra Pradesh, branded as “KIMS-SIKHARA.”

• Epigral Limited approved expanding its Dahej, Gujarat facility to double capacities for CPVC resin and epichlorohydrin by H1 FY2027, investing ₹780 crore funded through internal accruals and debt.

• Advanced Enzyme Technologies Limited approved acquiring a 26% stake in an SPV for a captive solar power project for its Nashik plants and increasing equity investment by up to ₹500 million in subsidiary Advanced Enzymes Europe B.V. to retire debt.

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