Category: News

Accel is making waves again, locking in $650 million for its eighth India fund, per SEC filings. That brings the venture capital giant’s India investment tally to nearly $3 billion. Accel is cashing in big time. Its $20 million bet on Swiggy turned into a 35x return after the food delivery giant went public last November. Blackbuck, another Accel portfolio star, has delivered a 4-5x return following its listing. And if you’re tracking unicorns, Accel has its fingerprints on about 20% of them in India. Accel is diversifying its playbook, targeting non-metro markets and even rural India. Don’t underestimate the countryside, either—the top 20-30% of rural spenders are dropping over $250 billion annually, according to Accel partner Anand Daniel. While competitors like Sequoia and Matrix have spun off their India units, Accel is sticking to its global roots, proving it’s in it for the long haul. For Indian entrepreneurs, especially those outside the metro bubble, that’s a big green light.

Petronet LNG had a rough Thursday, with its shares taking an 8.5% dive during intra-day trading, landing at ₹317.95. The sell-off came hot on the heels of critical remarks from the Petroleum and Natural Gas Regulatory Board (PNGRB) about its tariff practices, alongside a bearish call from Citi. PNGRB claims that Petronet LNG has been milking its Dahej terminal’s success, hiking tariffs excessively despite operating at over 90% capacity. Regulator sure that there is “profiting immensely” at the expense of gas consumers. This isn’t just about Dahej, though—the regulator’s concern is that other LNG terminals might follow the same playbook. Petronet, however, isn’t going down without a fight. The company quickly issued a clarification, pointing out that PNGRB doesn’t have jurisdiction over LNG terminal tariffs. For investors, it’s a mixed bag. The stock has gained 53% over the past year, despite being 17% off its 52-week high of ₹384.90 from August. But with regulatory clouds gathering, the road ahead might be bumpier than expected.

Shares of the Royal Enfield (owned by Eicher Motors) maker roared ahead by 9% on Thursday, climbing to ₹5,325.75 on the BSE, all thanks to stellar December sales numbers. The company reported a 25% year-on-year surge in Royal Enfield sales, moving 79,466 units. During year sales volumes have grown 6%, reaching 7,27,077 units compared to 685059 units over the same period last year. Royal Enfield launched its first fully-owned assembly plant outside India in Bangkok this quarter, adding to its network of facilities in Argentina, Colombia, Brazil, Bangladesh, and Nepal. On the home turf, its pre-owned bike business, REOWN, has expanded to 236 cities, opening more doors for riders to embrace the brand. Trendlyne data pegs the stock’s average target price at ₹4,869, which suggests a 7% downside from the current lofty levels. By the end of Thursday, the stock closed at ₹5,307.90, up 8.65% on the day. With momentum like this, Royal Enfield seems to be firing on all cylinders, both on and off the road.

Snapdeal is tightening its belt, and it’s paying off—sort of. Despite barely nudging its revenue upward in FY24, the e-commerce player slashed its net losses by a whopping 43%, bringing them down to ₹160.4 crore from the previous year’s ₹282.2 crore. Also an 88% reduction in Ebitda losses, which now stand at just ₹16 crore compared to ₹144 crore in FY23. Total outgoings shrank by 21% to ₹540.8 crore, thanks to halved employee costs (₹158.4 crore) and a scaled-back advertising spend, which dropped 24% to ₹70.4 crore. After a failed merger with Flipkart, it ditched pricey categories like electronics and appliances to concentrate on affordable items like fashion, home goods, and beauty products—most of which are priced below ₹1,000. The company also trimmed some fat elsewhere, cashing out stakes in Unicommerce and made ₹33 crore from a secondary sale of 3.4% last year and another ₹81 crore by offloading 9.2% through an IPO offer-for-sale route.

Jai Corp shares hit rock bottom on Thursday, crashing to a 52-week low of ₹247.90 after slamming into the 20% lower circuit. Heavy trading action accompanied this sharp drop, marking the stock’s third straight losing session. The trigger? A big announcement from Urban Infrastructure Holdings Pvt.., where Jai Corp holds a 32% stake. UIHPL is pushing for a capital reduction, a move that’s now up for shareholder approval. If the plan gets the green light from shareholders, the NCLT, and regulators, Jai Corp could pocket ₹364 crore. UIHPL plans to slice away 99.76% of its share capital, including equity shares and CCPS, handing ₹3,746.87 crore to its shareholders. This shake-up comes on the heels of another big transaction. Dronagiri Infrastructure Private Limited (DIPL), a UIHPL subsidiary, offloaded a 74% stake in Navi Mumbai IIA Private Limited to Reliance Industries for ₹1,628.03 crore last month. With CIDCO holding the remaining 26%, DIPL now finds itself cash-heavy, prompting its own capital reduction proposal. Jai Corp’s rough patch isn’t new. The stock has been on a downward spiral, losing over 36% in 2024 and sitting 43% below its July high of ₹438.

Easy Trip Planners’ stock took a sharp dive on Tuesday, dropping 9.8% to hit a low of Rs 15.38. Promoter and co-founder, Nishant Pitti, is set to sell his remaining 14.21% stake in the company, valued at a hefty Rs 780 crore. This block deal, involving the sale of 50 crore shares at Rs 15.60 each, has triggered investor jitters, with institutional players like CRAFT Emerging Market Fund and Eminence Global Fund expected to join in. The timing is a bit off, as the company’s flagship platform, EaseMyTrip, just posted a modest gain of 2.72% on the NSE, closing at Rs 16.98. But the Pitti family’s moves have raised questions—Nishant had already offloaded 14% of his shares back in September for Rs 920 crore, leaving many wondering if more selling pressure could be on the horizon. It’s been a rough ride for Easy Trip—its stock is down 17% over the last six months and 35% over the past two years. With the promoter’s stake sale weighing on sentiment, the next few days might see more pressure. Keep an eye on the developments, as this stock could be in for some turbulence.

Shares of Rail Vikas Nigam (RVNL) surged 4.6% to hit a fresh high of Rs 427.90 on Tuesday, catching the eye of investors. The reason behind the jump? RVNL bagged the lowest bid (L1) for a significant project worth Rs 137.16 crore with Central Railway. The deal involves upgrading power infrastructure for the Bhusaval-Khandwa railway sections, an essential move to handle a hefty 3000 MT loading target. In its official announcement, RVNL detailed the project, which includes designing, supplying, and commissioning traction substations and sectioning posts as part of an effort to modernize the region’s 132/55 KV traction system. And here’s the kicker—the project is slated for completion in just 12 months. This fresh win adds to a solid track record, with RVNL shares already up a whopping 125% over the past year and 124% this calendar year. Despite the positive news, the stock has stumbled in recent months. RVNL shares are down about 23% over the last six months, with a minor dip of 1.8% in the past three months.

Shares of Adani Green Energy (AGEL) declined by 2.3% today, reaching ₹1,053.25 on the BSE, following the announcement of a key leadership transition. The company disclosed that Amit Singh, the current CEO, will step down effective March 31, 2025, to take on a new role within the Adani Group. Ashish Khanna, currently CEO of the International Energy Business for the Adani Group, will succeed Singh as CEO starting April 1, 2025. In an exchange filing, AGEL confirmed that the changes were approved at its Board of Directors meeting held on December 30, 2024. Adani Green Energy, known for its extensive renewable energy portfolio, is India’s largest and among the world’s leading clean energy companies. However, the company’s shares have been under pressure. Over the past year, the stock has declined by 34.4%, with sharper drops of 41.4% over the last six months and 45% in the past three months, as per BSE analytics. The prolonged downward trend highlights growing investor concerns, though the leadership change could signal strategic shifts for the company in the future.

Varun Beverages, PepsiCo’s largest bottler in India, is on the radar of Antique Broking, which has reaffirmed its ‘buy’ rating with a target price of ₹710, indicating a 10% upside from its previous close. The brokerage cites VBL’s strategic moves into emerging categories like energy drinks and dairy products, alongside capacity and geographic expansions, as key drivers for sustained growth in both volumes and margins. Recent acquisitions in Africa have bolstered VBL’s growth story. The company acquired PepsiCo’s manufacturing and distribution rights in Tanzania, a market with an estimated 200 million cases annually and a 34% PepsiCo market share, for ₹1,750 crore. This acquisition, priced attractively at an FY24 EV/sales of 1.2x, offers immediate double-digit growth potential. In Ghana, VBL’s ₹190 crore acquisition of a smaller market with an 11% PepsiCo share provides an entry point into West Africa, promising future growth opportunities. These expansions are underpinned by a robust financial strategy. VBL recently raised ₹7,500 crore through a QIP at ₹565 per share, reducing its debt burden and turning the company net cash positive. This financial flexibility enables the firm to fund acquisitions, including an increased stake in Lunarmech Technologies and further international ventures.

Unimech Aerospace shares soared during their debut on December 31, listing at ₹1,491 on the BSE—a stunning 90% above their issue price of ₹785 per share. The NSE wasn’t far behind, with the stock opening at ₹1,460, translating to an 86% premium. While grey market chatter had hinted at a strong opening, Unimech managed to exceed even those lofty expectations. By mid-morning, the stock settled slightly lower at ₹1,400 on the BSE, marking a 78% gain in a market weighed down by broader weakness. This performance reflects significant investor enthusiasm following the ₹500-crore IPO, which was open from December 23 to 26 and heavily oversubscribed at 175.31 times. The company, an engineering solutions provider specializing in aerospace and defense components, impressed with its growth potential and robust business model. Its IPO was a mix of fresh issues and an offer for sale, both valued at ₹250 crore each. The fresh capital is set to fund expansion through new machinery, bolster working capital, and support its subsidiary’s growth while also trimming debt.