Category: News

Yash Highvoltage made a sizzling debut on the BSE SME, listing at ₹277.40—an impressive 90% premium over its IPO issue price. But the fireworks didn’t stop there. The stock soared further to ₹291.25, locking in its upper circuit and delivering a jaw-dropping 99.49% gain for investors on day one. For a company deeply entrenched in this niche but crucial industry, today’s blockbuster listing underscores not just investor confidence but also the potential for Yash Highvoltage to spark brighter innovations in the energy sector. Yash Highvoltage specializes in transformer bushings, offering a wide range of products such as Oil-Impregnated Paper (OIP), Resin-Impregnated Paper (RIP), and Resin-Impregnated Synthetic (RIS) condenser bushings.

Solarium Green Energy Limited is preparing for its public debut as the Bombay Stock Exchange (BSE) approves its Draft Red Herring Prospectus. The SME IPO is expected to launch shortly, offering as many as 5,500,000 equity shares, each with a face value of ₹10. As the company ventures into the public domain, the IPO marks not just a financial milestone but also a strategic move to expand its foothold in the ever-growing solar energy market. As of September 2024, Solarium is overseeing 41 ongoing projects totaling ₹165.29 crore in value, while new tenders worth ₹252.86 crore are currently up for bidding. This growing pipeline underscores the company’s leadership in India’s renewable energy space. The company’s financials paint an optimistic picture. For the fiscal year ending March 31, 2024, Solarium reported revenue of ₹177.80 crore, EBITDA of ₹23.78 crore, and a net profit of ₹15.59 crore. Its track record between FY22 and FY24 includes 8,506 residential rooftop projects, 152 commercial and industrial (C&I) projects, and 8 government ventures.

Infosys, India’s second-largest IT services company, has added a significant chapter to West Bengal’s IT growth narrative by inaugurating a cutting-edge development centre (DC) in New Town, Kolkata. This expansive 320,000 sq. ft. facility, with an investment surpassing ₹426 crore, is designed to accommodate over 4,000 employees in a hybrid work environment, combining both in-office and remote work arrangements. For Infosys, this move signifies its growing footprint in Eastern India. Unveiled by West Bengal Chief Minister Mamata Banerjee, the event was marked as a “historic” moment for the state’s IT ambitions. Banerjee called it a “New Year gift” to Bengal, emphasizing how the facility strengthens the state’s position as a leading IT hub in India. Banerjee also spotlighted complementary developments, including a “Silicon Valley” project spanning 200 acres in New Town. This ambitious venture, with an investment of ₹27,000 crore, is expected to generate 75,000 jobs. Additionally, she announced plans for a cable landing station to bolster connectivity for IT firms, reinforcing the state’s tech-friendly ecosystem. For Bengal, it’s a signal to the world: the state is ready to innovate, grow, and lead in the IT sector.

On Thursday, SpiceJet’s shares surged by almost 9% following the airline’s announcement of a settlement with Genesis regarding a $16 million dispute. As part of the agreement, SpiceJet will pay $6 million in cash while Genesis will acquire $4 million worth of SpiceJet equity at ₹100 per share. For investors, this settlement appears to signal the airline’s determination to regain financial stability. The market responded enthusiastically, with SpiceJet stock climbing to ₹61.30 during the day before stabilizing at ₹60.67, up by 7.8%. Stock has bounced back by 33% from its 52-week low of ₹46. The deal marks another milestone in SpiceJet’s efforts to restore stability, which has been a key focus amid ongoing financial and operational challenges. The agreement will not only save costs but also result in all ongoing litigations with Genesis being withdrawn, freeing up the airline from potentially prolonged legal battles. The settlement, coupled with Genesis’s equity investment, underscores confidence in SpiceJet’s recovery potential.

India’s domestic electronics industry has witnessed a meteoric rise, with 99.2% of mobile handsets used in the country now being manufactured locally, according to Jitin Prasada, Minister of State for Electronics and IT. This marks a dramatic shift from FY2014-15, when 74% of mobile phones sold in India were imported.The domestic electronics production has grown at a robust CAGR of over 17% in the past decade, scaling from ₹1.9 lakh crore in FY2014-15 to a staggering ₹9.52 lakh crore in FY2023-24. To sustain this momentum, the government has rolled out ambitious initiatives like the ₹76,000 crore Semicon India program, and Production Linked Incentive. Despite these achievements, challenges remain. India’s electronics manufacturing still faces a cost disadvantage compared to global competitors due to factors like higher capital expenditure requirements, longer gestation periods, smaller production scales, and difficulties in securing technology transfers.

India’s domestic shipping sector is bracing for an 8-10% revenue decline in FY26, according to a CRISIL Ratings report, primarily due to falling charter rates for crude oil, petroleum products, and dry bulk carriers. Following a peak growth of 35% in FY23, driven by surging charter rates amid the Russia-Ukraine conflict and post-pandemic demand, the industry has since seen revenue and margins slide. In FY25, operating margins are expected to fall further to 32-34%, down from over 40% last year, though still above the cyclical norm of 25-30%. Notably, modest capex plans and stable credit profiles are expected to cushion companies from the full impact of this decline. The debt-to-EBITDA ratio, a key financial indicator, is expected to rise moderately to 2.0-2.2 times next fiscal from 1.4 times in FY24. Even so, robust liquidity and asset monetization capabilities should insulate companies from cyclical pressures. CRISIL emphasized that geopolitical developments could significantly impact charter rates and industry dynamics, warranting close monitoring. For now, the sector appears poised to weather the downturn with resilient fundamentals.

VA Tech Wabag shares tumbled over 19% in early trade on December 18 after the company revealed that a massive ₹2,700 crore ($317 million) order for a 300 MLD Mega Sea Water Desalination Plant in Saudi Arabia was cancelled. The project, announced in September 2024, was shelved by the Saudi Water Authority due to “internal administrative procedures,” as per the company’s filing. The news sent shockwaves through the market, dragging the stock to a low of ₹1,522.30 on the BSE, a 19.17% dip. By mid-morning, it had recovered slightly, trading at ₹1,585.10, still down 15.31%. Despite today’s slide, VA Tech Wabag has delivered multibagger returns, skyrocketing 157% in the last year. Its order book remains robust at ₹14,600 crore, including framework contracts, signaling a solid pipeline ahead.

Welspun One is making bold moves to capitalize on India’s booming logistics landscape, announcing plans to raise ₹4,000 crore to expand its portfolio from 16 million square feet to a whopping 32 million by 2028. Welspun One revealed active discussions for financial and strategic partnerships at the General Partner (GP) level. These alliances, the company says, will unlock global best practices, cutting-edge technologies, and blue-chip tenant networks for its platform. For investors, it’s not just about returns but gaining a foothold in one of the world’s fastest-growing logistics markets. India’s rapid urbanization, digitalization, and shifting trade corridors are reshaping its logistics sector, and Welspun One is positioning itself at the heart of this transformation. Welspun One has already committed 75% of its ₹2,275 crore Fund 2 within six months of its final close, returning 40% of Fund 1 capital through two lucrative exits. With a goal to hit $1 billion in assets under management across 16 Grade A projects by 2026, it’s clear the strategy is as focused as it is aggressive.

This year’s public market exits painted contrasting pictures for private equity (PE) and venture capital (VC) firms. VC firms surged ahead, raking in $4.06 billion till November—double their previous year’s earnings—while PE firms stayed flat at $13.3 billion. Blackstone’s $808 million exit from Mphasis played a crucial role in keeping PE numbers steady; without it, their figures would have dipped below last year’s. Over the past five years, the consistency in PE exits reflects a strong appetite among public market investors. One of the standout PE deals this year was Blackstone’s June sale of a 15% stake in IT services giant Mphasis, reducing its holding to 40%. Other notable transactions included Peak XV, Norwest, and TPG Capital divesting 11% of Five Star Business Finance for $536 million, and Warburg Pincus cashing out its 9.17% stake in Kalyan Jewellers India for $451 million. VC firms seized the momentum of a thriving IPO market and managed to rake in $4 billion and outpaced the funding boom of 2021 when VCs earned $3.3 billion. Nearly 90% of PE exits this year came from bulk or block deals, while IPO-driven exits climbed slightly to 16% from 11% last year.

ITC Ltd is making waves in the hospitality world as it consolidates stakes in rivals Oberoi and Leela while gearing up for its much-anticipated hotel business demerger in January 2025. The Kolkata-based conglomerate announced on Wednesday that it has acquired additional shares in EIH and HLV Ltd from its wholly-owned subsidiary, Russell Credit Ltd. The deal gives ITC a 16.13% stake in EIH and 8.11% in HLV, strengthening its foothold in India’s luxury hotel sector. The acquisition was made at book value, and ITC’s board had greenlit this consolidation back in October. ITC Hotels is set to become a standalone entity, with January 6, 2025, marked as the record date for ITC shareholders to receive equity shares in the new company. The new entity will take over ITC’s robust hospitality portfolio, which includes premier brands like Bay Islands Hotels, Srinivasa Resorts, and Fortune Park Hotels. While ITC’s shares saw a modest uptick, closing at ₹470.65 on the BSE (up 0.17% on Wednesday), the strategic realignment signals bigger opportunities for investors. By creating a focused entity for its hospitality business, ITC aims to unlock value for shareholders while streamlining operations.