Microcap Minute Free Newsletter #7

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 25th November 2024 to 30th November 2024

• Power Mech Projects Limited has secured a ₹510 crore contract from Adani Power Limited for mechanical construction at the 2×800 MW Raipur Phase-II Ultra Supercritical Thermal Power Project in Chhattisgarh, to be executed over 34 months.

• ITC Limited acquired the entire share capital of Greenacre Holdings Limited from its subsidiary Russell Credit Limited for ₹42.10 crore, making GHL a direct wholly owned subsidiary as of November 29, 2024.

• NCC Limited received a Letter of Acceptance from the Ken-Betwa Link Project Authority for EPC execution of the Daudhan Dam under the Ken-Betwa Link Project, valued at ₹3,389.49 crore, to be completed over 72 months.

• Ashoka Buildcon Limited:

  • Signed a ₹1,055 crore EPC contract with Bangalore International Airport Limited for constructing Elevated Western Crossfield Taxiways, apron, and infrastructure, to be completed in 24 months.

  • Received a Letter of Award from NHAI for a ₹1,391 crore project to develop a 4-lane economic corridor from Bowaichandi to Guskara-Katwa Road in West Bengal under the Hybrid Annuity Mode, to be completed in 910 days.

  • Received a Notification of Award from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Limited for an EPC project worth ₹192.69 crore involving supply and installation of new 11 KV lines and substations in Chhindwara, to be completed in 24 months.

• Rail Vikas Nigam Limited (RVNL):

  • Emerged as the Lowest Bidder (L1) for a ₹642.57 crore project from PSPCL for distribution infrastructure development under RDSS in Punjab, to be completed over 24 months.

  • Received a Letter of Acceptance from South Central Railway for doubling the track between Parbhani and Parli stations, covering 58.06 km, including electrification and signaling, valued at ₹625.08 crore, to be completed in 30 months.

• BEML Limited has been awarded a contract worth approximately ₹3,658 crore by Chennai Metro Rail Limited for metro rolling stock design, manufacture, supply, testing, commissioning, and a 15-year maintenance contract.

• NTPC Limited:

  • NTPC Renewable Energy Limited commissioned 55 MW of the 105 MW Shajapur Solar Project in Madhya Pradesh, increasing NTPC group’s capacity to 76,530.68 MW.

  • NTPC Green Energy Limited signed an MoU with Chhattisgarh State Power Generation Company Limited to develop up to 2,000 MW of renewable energy projects, including floating solar.

• Oriental Rail Infrastructure Limited secured orders worth ₹2.16 crore from Rail Coach Factory, Kapurthala for supplying seats for LHB coaches, to be delivered by May 29, 2025.

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• CG Power and Industrial Solutions‘ subsidiary G.G. Tronics India Private Limited secured a KAVACH order worth ₹500–600 crore from Chittaranjan Locomotive Works for onboard equipment supply and maintenance over 11 years.

• NBCC (India) Limited:

  • Received a ₹316 crore work order from the ST & SC Development, Minorities & Backward Classes Welfare Department, Odisha, for upgrading Primary School Hostels.

  • Signed an MoU with HUDCO to act as Project Management Consultant for a ₹600 crore project in Noida’s Sector-62.

• Surya Roshni Limited secured orders totaling ₹214.68 crore, including ₹106.01 crore from HPCL for 3LPE Coated Line Pipes and ₹108.67 crore for Spirally Welded Pipes in Madhya Pradesh.

• KEC International Ltd.:

  • Secured new orders worth ₹1,704 crore from Power Grid Corporation of India Limited for 765 kV transmission lines and GIS substations, bringing year-to-date orders to ₹16,300 crore.

  • Secured orders worth ₹1,114 crore across various segments, including a 400 kV transmission line in Oman, with year-to-date orders at approximately ₹14,600 crore.

• Asya Infosoft Limited:

  • Secured a ₹26 crore order from Vikran Engineering Limited for a multi-village water project in Chhattisgarh under the Jal Jeevan Mission, to be completed within 12 months.

  • Secured an order worth ₹11.34 crore from Brahmaputra Cracker & Polymer Limited for analyzer systems at BCPL Lepetkata, to be completed within eight months.

• Talbros Automotive Components Ltd., along with its joint ventures, secured multi-year orders worth approximately ₹475 crore over five years, including ₹145 crore in exports and ₹75 crore in the EV segment.

• RailTel Corporation of India secured a ₹15.21 crore order from Kakinada Smart City Corporation Limited for SITC and O&M of the Integrated Command Communication Center.

• Zaggle Prepaid Ocean Services Limited entered a 7-year partnership with Mastercard Technology Private Limited, where Mastercard will recommend Zaggle’s products to corporate customers.

• Waaree Energies Limited received an order to supply up to 600 MWp of solar PV modules to a domestic renewable power project customer, with supply starting in FY 2025-2026.

• Bharat Global Developers Ltd. (BGDL) secured a ₹156 crore order from UPL Agro Pvt. Ltd. to supply 3,00,000 tons of oil-grade groundnuts over six months.

• Sarveshwar Foods Limited‘s subsidiary Green Point Pte. Ltd. secured an order from Monarda Commodities Pte. Ltd. to supply 12,000 MT of Indian Long Grain Parboiled Rice valued at approximately ₹445 million by December 31, 2024.

• Hitachi Energy India Limited, in consortium with BHEL, was awarded a contract by Power Grid Corporation of India Ltd. to design and execute a ±800 kV, 6,000 MW HVDC link from Khavda, Gujarat, to Nagpur, Maharashtra, over 1,200 km.

• Power Grid Corporation of India Limited was declared the successful bidder to establish the Inter-State Transmission System for evacuation of power from Rajasthan REZ Phase-IV (Part-4: 3.5 GW): Part A, involving substations and transmission lines in Rajasthan and Uttar Pradesh.

• Premier Energies Limited announced its subsidiaries received orders totaling ₹1,087 crore from two Independent Power Producers and a domestic customer, including ₹964 crore for solar modules and ₹123 crore for solar cells, with supply starting January 2025.

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All Caps Updates between 25th November 2024 to 30th November 2024

• Nazara Technologies’ subsidiary Nodwin Gaming has acquired a 100% stake in Trinity Gaming India Private Limited for ₹24 crore (₹4.8 crore in cash and ₹19.2 crore via equity share swap), enhancing Nodwin’s talent management capabilities and expanding offerings in emerging markets.

• CreditAccess Grameen Limited has raised €25 million from the German Investment Corporation (DEG) and ₹170 crore from Citi through a co-financing facility to support women entrepreneurs across rural India, enhancing financial inclusion and diversifying funding sources.

• GAIL (India) Limited has signed a long-term time charter contract with Kawasaki Kisen Kaisha Ltd. (“K” LINE) for a new-built LNG ship of 174,000 cubic meters capacity, expected to operate from 2027, enhancing GAIL’s LNG transportation capabilities.

• IndiaMART InterMESH Limited increased its stake in Mobisy Technologies Private Limited to approximately 31.33% by investing ₹14.28 crore, aligning with its strategy to expand SaaS offerings.

• DLF Limited’s subsidiary DLF Info City Developers (Kolkata) Ltd. agreed to sell its Kolkata Tech Park business to RDB Primarc Techno Park LLP for approximately ₹637 crore on a slump sale basis, enhancing shareholder value.

• Patel Engineering Limited incorporated a wholly owned subsidiary Pel Nirmana Private Limited in Nepal to focus on infrastructure projects like buildings, roads, bridges, hydropower, and water supply.

• Macrotech Developers Limited acquired a 100% stake in Janus Logistics and Industrial Parks Private Limited for ₹47.94 crore to expand its industrial and logistics infrastructure under the Lodha Industrial and Logistics Park brand.

• Dixon Technologies’ subsidiary Padget Electronics partnered with Compal to commence mass production of Google Pixel smartphones for Google Information Services India Pvt. Ltd., marking a significant milestone in India’s electronics manufacturing.

• TVS Motor Company Limited increased its stake in DriveX Mobility Private Limited from 48.27% to 87.38% by acquiring an additional 39.11% for ₹97.79 crore, making DriveX a subsidiary to enhance operational efficiency.

• Revolt Motors, a subsidiary of RattanIndia Enterprises, launched its flagship electric motorcycles RV400 and RV400 BRZ in Sri Lanka, marking its international debut and aiming to revolutionize Sri Lanka’s mobility landscape.

• Aarti Drugs Limited’s subsidiary Pinnacle Chile SpA incorporated a wholly owned subsidiary Pharma Go SpA in Santiago, Chile, to focus on marketing formulation drugs in the Chilean market.

• Tilaknagar Industries Ltd. launched its first luxury brandy Monarch Legacy Edition, priced at ₹6,750 for a 750ml bottle in Maharashtra, blending French and Indian grape spirits to redefine Indian brandy globally.

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• Dr. Reddy’s Laboratories launched Toripalimab (Zytorvi®) in India, the first immuno-oncology drug approved for treating recurrent or metastatic nasopharyngeal carcinoma, in partnership with Shanghai Junshi Biosciences.

• Sterling Holiday Resorts, a subsidiary of Thomas Cook (India), launched its ninth property in Kerala, Sterling Lontano Waterfront Wayanad, offering luxury accommodations near Karapuzha Dam.

• Angel One Limited announced that its wholly owned step-down subsidiary Angel One Investment Managers & Advisors Private Limited received SEBI registration to act as a Portfolio Manager and offer Portfolio Management Services.

• GAIL (India) Limited, through its subsidiary GAIL Mangalore Petrochemicals Limited (GMPL), re-engaged INEOS as the process licensor to revive its 1.25 MMTPA Purified Terephthalic Acid (PTA) plant in Mangalore SEZ.

• Tata Consultancy Services (TCS) partnered with IIT Kharagpur to establish an advanced research center in Kolkata focused on digital health, robotics, and intelligent systems leveraging AI and edge computing.

• Vardhman Textiles Limited approved an expansion to increase processed fabric capacity at its Budhni, Madhya Pradesh unit by 31 million meters per annum with an investment of approximately ₹350 crore, to be completed within two years.

• Electrosteel Castings Limited commenced commercial production at its 12 TPD Rubber Gasket Plant in Andhra Pradesh starting on November 28, 2024.

• Abbott India launched PneumoShield 14, a 14-valent Pneumococcal Conjugate Vaccine offering broad protection for children against pneumococcal infections.

• Power Finance Corporation Ltd. (PFC) incorporated a Special Purpose Vehicle Kandla GHA Transmission Limited to develop a transmission system for supplying power to green hydrogen and ammonia manufacturing in Kandla, Gujarat.

• Reliance Industries Limited’s subsidiary Reliance Finance and Investments USA LLC acquired a 21% stake in Wavetech Helium, Inc., a U.S.-based helium gas exploration and production company, for $12 million.

• Castrol India Limited updated that its 7.09% stake in ki Mobility Solutions Private Limited now translates to an equivalent shareholding in TVS Automobile Solutions Private Limited (TASPL) following a corporate restructuring.

• Glenmark Pharmaceuticals Inc., USA launched Travoprost Ophthalmic Solution USP, 0.004%, a bioequivalent alternative to Travatan Z®, targeting the $66.2 million annual market.

• Granules India Limited received validation from the Science Based Targets initiative (SBTi) for its net-zero goals aligned with the 1.5°C pathway, aiming to achieve net-zero greenhouse gas emissions by FY2050.

• Dhanuka Agritech Limited signed an agreement with Bayer AG to acquire international rights to active ingredients Iprovalicarb and Triadimenol, expanding presence in over 20 countries.

• LTIMindtree partnered with Microsoft to accelerate AI-driven innovation and digital transformation for global enterprises.

• Gulf Oil Lubricants India Limited renewed its strategic partnership with Piaggio Vehicles Pvt. Ltd. until 2030 as the exclusive lubricant partner for Piaggio’s commercial vehicles.

• Saregama India Limited increased its stake in Pocket Aces Pictures Private Limited from 51.82% to 53.51% by investing ₹15 crore through a rights issue.

• LT Foods Limited established an office in Riyadh, Saudi Arabia, investing SAR 185 million over five years to tap into the $2 billion rice market.

• Power Grid Corporation of India Limited commissioned the “North Eastern Region Strengthening Scheme-XII (NERSS-XII)” project effective from November 2, 2024.

• LTIMindtree Limited incorporated a joint venture “LTIM Aramco Digital Solutions for Information Technology” in Saudi Arabia effective November 22, 2024.

• Eicher Motors Limited’s Royal Enfield launched the Goan Classic 350, a bobber-inspired motorcycle celebrating Goa’s moto-culture, priced at ₹2.35–2.38 lakh.

• Time Technoplast Ltd. received approval from PESO to manufacture high-pressure Type-3 composite cylinders for hydrogen-powered drones and UAVs, the first in India to achieve this.

• Shree Renuka Sugars Limited sold its remaining 17.1% stake in Shree Renuka Global Ventures Limited to Freeway Trading Limited, ceasing to be associates of the company.

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• Tube Investments of India Limited (TII) signed a Share Subscription Agreement to acquire a 67% stake in Kcaltech System India Private Limited for ₹62 crore, strengthening its position in automotive HVAC aluminum components.

• Lloyds Engineering Works Ltd. partnered with Fincantieri S.p.A. to jointly manufacture advanced components for the Indian Navy and Coast Guard, enhancing defense manufacturing capabilities under “Make in India.”

• Gopal Snacks Limited launched “Banana Wafers” under its flagship brand “Gopal,” expanding its wafer category with a new product available nationwide.

• Borosil Limited assigned its tenancy rights for premises in Worli, Mumbai, to Andromeda Facility Management LLP and Calypso Exim LLP for ₹13.46 crore.

• Adani Green Energy Limited’s subsidiary Adani Saur Urja (KA) Limited incorporated two wholly owned subsidiaries, Adani Hydro Energy Two Limited and Adani Hydro Energy Three Limited, to generate and supply renewable energy.

• NLC India Limited (NLCIL) transferred its renewable energy assets to its wholly owned subsidiary NLC India Renewables Ltd. (NIRL), effective from August 1, 2024, exempting NLCIL from capital gains tax liability.

• PCBL (Phillips Carbon Black Limited) was allotted 116.62 acres of land in Naidupeta SEZ, Andhra Pradesh, to establish a plant for manufacturing new rubber black and value-added chemicals with an investment of ₹3,718 crore.

• Hathway Cable and Datacom Limited acquired the remaining 61.15% stake in Hathway Cable MCN Nanded Private Limited, making it a wholly owned subsidiary for ₹11.

• ZF Group sold a 4.3% stake (820,000 shares) in its Indian subsidiary ZF Commercial Vehicle Control Systems India Limited to institutional investors to support growth plans.

• Kotak Mahindra Bank received approval from the Competition Commission of India (CCI) for its acquisition of Standard Chartered Bank India’s personal loan book, proceeding with the acquisition.

• Natco Pharma Limited sold 14.38 acres of land in Mekaguda, Telangana, for ₹115.57 crore, unrelated to its business operations.

• Zen Technologies Limited was granted a patent for its “T90 Containerized Crew Gunnery Simulator,” marking its 20th patent of 2024.

• Tata Consultancy Services (TCS) extended its partnership with SPARSH, India’s pension system for defense personnel, for an additional three years to enhance and maintain the system.

• L&T Finance Limited (LTF) partnered with Amazon Finance India to offer loan products through Amazon’s app and website, enhancing credit accessibility.

• AstraZeneca Pharma India Limited received approval to import and distribute Olaparib film-coated tablets (Lynparza) in 100 mg and 150 mg doses for an additional indication.

• Shilpa Medicare Limited received approval to conduct Phase III clinical trials for its Recombinant Human Albumin (rHA) 20%, being the first Indian company to gain this approval.

• Angel One Limited received SEBI approval to launch Angel One Mutual Fund, focusing on passive investment products like ETFs and index funds.

• Exide Industries Limited invested ₹99.99 crore in its subsidiary Exide Energy Solutions Limited (EESL), increasing total investment to ₹3,052.24 crore for manufacturing lithium-ion battery cells.

• NTPC Limited’s subsidiary NTPC Green Energy Limited (NGEL) formed a 50:50 joint venture with MAHAGENCO named MAHAGENCO NTPC Green Energy Private Limited to develop renewable energy parks in Maharashtra.

• Wipro Limited extended its partnership with Marelli for an additional four years to transition Marelli’s Milan Data Centre to the cloud through Wipro FullStride Cloud.

• Aster DM Healthcare entered into a share purchase agreement to acquire the remaining 13% stake in Prerana Hospital Limited (Aster Aadhar), making it a wholly owned subsidiary.

• TIPS Music Ltd announced a partnership with TikTok to globally promote its catalogue of over 31,000 songs, excluding India and China.

• UPL Limited partnered with CH4 Global to distribute the methane-reducing cattle feed supplement Methane Tamer™ in major livestock markets including India and Brazil.

• Paytm introduced an auto top-up feature for its UPI Lite service, allowing seamless recurring small payments under ₹500 without a PIN.Subscribe to our Bharat Next Emerging Giants Basket

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Disclaimer

All information is sourced from publicly available data, and while every effort has been made to ensure the accuracy and reliability of the information provided in these notes from the management meeting, Ayush Agarwal Research cannot guarantee that the information is complete or free from errors.

• I, Ayush Agrawal, am registered with SEBI as an Individual Research Analyst under the registration number INH000013013, effective from September 14, 2023.

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