Category: News

Rail Vikas Nigam Ltd (RVNL) shares were buzzing on Tuesday, rallying up to 7.5% in intraday trade after the company bagged hefty orders worth ₹540 crore from Central Railway and East Coast Railway.  Opening at ₹414.50 on the BSE—just above Monday’s close of ₹409.10—the stock climbed to a high of ₹439.90 during the session. The excitement stems from RVNL’s announcement as the lowest bidder (L1) for two significant projects. The first one – Koraput-Singapur Road Doubling Project. This East Coast Railway project involves major bridge construction and related works between Tikiri and Bhalumaska. The ₹404.4 crore project is set for completion in 30 months. The second – Bhusaval-Khandwa Traction System  For Central Railway. RVNL will handle the design and commissioning of a 132/55 KV traction substation and related infrastructure. This ₹137 crore project will be executed in 24 months.

2024 has been a bruising year for India on the foreign investment front. Foreign Portfolio Investment (FPI) inflows collapsed by a staggering 99%—from ₹1.71 lakh crore in 2023 to a meager ₹2,026 crores, according to NSDL data. It’s a wake-up call for Asia’s third-largest economy, underscoring the challenges in keeping global investors interested. The U.S. economy, flexing its “exceptionalism,” pulled much of the world’s capital. Higher interest rates, booming markets, and resilient economic data made U.S. bonds, equities, and money markets irresistibly attractive. That money had to come from somewhere, and emerging markets, including India, took the hit. On India’s side, valuations didn’t help. Elevated price-to-earnings ratios, a sky-high market cap-to-GDP ratio, and slowing GDP growth turned off investors looking for value. Throw in weaker industrial output and lackluster corporate earnings, and India became an increasingly tough sell. The Reserve Bank of India tightened liquidity and introduced stricter rules on unsecured lending, dragging down banks and non-bank financial institutions—a sector FPIs traditionally favor. Despite this, FPIs showed selective confidence, sticking with India’s primary markets and long-term opportunities. On the bright side, domestic investors stepped up, cushioning the blow and preventing the markets from spiraling out of control.

Amid a sluggish market, Surya Roshni lit up the trading floor with a stellar 10% intraday rally on December 31, riding high on excitement surrounding its first-ever 1:1 bonus issue. The buzz was palpable as investors scrambled to secure shares ahead of the record date on January 1, 2025. For every share held, investors will receive one bonus share—doubling the total share count but keeping individual ownership percentages intact. This move aims to improve liquidity and make the stock more appealing, a strategic milestone for the company. The bonus shares are set to hit investor accounts by January 2 and will trade on exchanges starting January 3. Surya Roshni has been rewarding its shareholders consistently, dishing out ₹7.50 per share in dividends this year and completing a 1:2 stock split back in October. However, despite these shareholder-friendly moves, 2024 has been a rollercoaster for the stock. Currently trading at ₹616.80 after today’s rally, the stock is still 27% off its 52-week high of ₹841.50 but has climbed 32% from its March low of ₹467.15.

The Indian rupee wrapped up 2024 in disappointing fashion, closing at a record low of 85.6150 against the U.S. dollar on Tuesday. This marks its sixth consecutive session of losses and a 2.8% drop for the year—a grim seventh straight year of annual declines. Weakness wasn’t exclusive to the rupee, as most Asian currencies struggled. The offshore Chinese yuan tumbled 0.6% to 7.35, its lowest in over a year, following tepid factory activity data from China. The broader backdrop wasn’t much better, with a slightly softer dollar index at 107.9 and U.S. bond yields inching down during Asian trading hours. Despite the broader regional context, the rupee’s persistent slump underscores concerns about its trajectory in 2025. Investors are grappling with the potential for continued losses as global and domestic factors exert pressure. While the closing days of 2024 brought no surprises, they left a sour taste, setting the stage for what could be another challenging year ahead for the currency.

Easy Trip Planners ended the year on a shaky note as its shares took a steep dive on Tuesday, December 31. Opening nearly 7% lower at ₹15.76, the stock tumbled to a day’s low of ₹15.36 before managing to claw back some losses and close 6.92% down at ₹15.87. The final trading day of 2024 was anything but smooth for the online travel platform. The trigger? Reports emerged that co-founder and promoter Nishant Pitti plans to sell off his remaining 14.21% stake via a block deal estimated at a hefty ₹780 crore. Big names like Citadel Capital Fund, Elite Capital Fund, and Eminence Global Fund are reportedly gearing up to participate in the transaction. This potential shake-up has left the market uneasy, prompting the sharp sell-off. Technically, the stock faces significant resistance in the ₹16–₹16.5 zone, according to analysts.  ₹14.85 could serve as strong support, with the stock likely to consolidate within this range for the next few sessions. A clear break above ₹16.5, however, could inject some fresh buying momentum, offering a glimmer of hope for bullish traders.

JSW Energy stock soared nearly 8% after announcing its move to acquire a 100% stake in O2 Power Midco Holdings, O2 Energy SG, and their subsidiaries. The stock opened at ₹650.20 on Monday, cruising more than 5% above its previous close of ₹625.05, and shot up to ₹673.05 during the day. This surge came hot on the heels of the Friday evening announcement: JSW Neo Energy, a fully owned arm of JSW Energy, is set to purchase the renewable energy platform for ₹12,468 crore. This acquisition aligns perfectly with JSW Energy’s renewable energy ambitions, helping it to further its goal of reaching 20 GW of renewable capacity by 2030. Analysts are bullish on this move. ICICI Securities is particularly upbeat, with a ‘buy’ rating on JSW Energy, emphasizing the strategic value of this acquisition. On top of all this, investor sentiment has been further bolstered by solid credit ratings. India Ratings and ICRA both reaffirmed stable ‘AA’ ratings for JSW Energy’s debt, providing extra assurance to shareholders. This deal is a game-changer for JSW Energy, propelling it even closer to its renewable energy goals.

Ventive Hospitality shares started strong on December 30, listing at an 11.7% premium on the BSE at ₹718.15, surpassing the issue price of ₹643. The stock quickly climbed to ₹732 on both the BSE and NSE before stabilizing around ₹717.85 and ₹716.45, respectively, by mid-morning trading. The stock’s performance aligned with grey market predictions, where it commanded a ₹68 premium, suggesting an 11% listing gain. Ventive Hospitality made a strong debut with its IPO, which ran from December 20 to December 24, successfully raising ₹1,600 crore. The company issued 2.49 crore fresh shares as part of the offering. With strong ties to global brands such as Marriott and Hilton, the company has positioned itself as a premium player in the hospitality sector. However, analysts note potential vulnerabilities. Akriti Mehrotra of StoxBox highlighted the firm’s dependence on third-party operators for 78% of its keys, which could pose reputational risks. Despite this, she emphasized Ventive’s robust financial performance, including a 44% revenue CAGR and stable cash flows from annuity assets comprising 41% of its revenue.

Refex Renewables & Infrastructure announced on Monday that its subsidiary, Refex Sustainability Solutions Ltd, has acquired a 51% stake in Vyzag Bio-Energy Fuel. The deal, completed on December 30, 2024, positions Vyzag Bio as a subsidiary of RSSL and a step-down subsidiary of Refex Renewables. The acquisition involves RSSL purchasing a 51.03% equity stake through a combination of shares bought from existing promoters and fresh equity infusion. This strategic move aligns with Refex’s commitment to sustainable energy solutions. Vyzag Bio operates a Compressed Bio-Gas (CBG) plant that processes segregated municipal waste to produce biogas. The facility boasts a production capacity of 850 kilograms of CBG daily, marking a notable contribution to India’s green fuel initiatives. The total acquisition cost, including share purchase and fresh capital infusion, stands at approximately ₹2.90 crore, as per a prior company filing. This development underscores Refex Renewables’ focus on diversifying its renewable energy portfolio while promoting sustainable waste management and clean energy production.

Adani Enterprises is taking a big leap out of the consumer goods arena, announcing its full exit from the Adani Wilmar joint venture. This move will see the conglomerate part ways with its 44% stake in the FMCG giant through a two-phase divestment plan. Wilmar International, via its subsidiary Lence Pte, will scoop up a 31.06% stake from Adani Commodities—AEL’s wholly-owned subsidiary—at a price capped at ₹305 per share. The remaining ~13% will be offloaded to meet public shareholding norms, effectively closing Adani’s chapter in the joint venture. The corporate shake-up doesn’t end there. Adani’s boardroom presence in Adani Wilmar will vanish, with its nominated directors stepping down. The companies also plan to rebrand Adani Wilmar once the transaction wraps up, signaling a clear departure of the Adani name. Adani Wilmar, known for its deep penetration across India’s rural landscape and exports to over 30 countries, will now be entirely under Wilmar International’s umbrella. Meanwhile, Adani Enterprises is redirecting its focus—and presumably, the funds from this deal—toward its core operations in energy, logistics, and infrastructure. Investors were quick to react. Adani Enterprises surged 7.65% to ₹2,593.45 on the BSE, while Adani Wilmar shares dipped briefly before stabilizing, closing slightly lower at ₹329.50.

The Indian rupee’s usual calm snapped this week, with its one-month implied volatility hitting 4.09%. For a currency that’s spent most of the year as a poster child for low volatility, this spike feels like a plot twist. This speculation gains weight under the watch of new RBI Governor Sanjay Malhotra, who’s yet to reveal his cards on forex intervention. It’s worth noting that while the rupee dipped 0.7% to a new low last Friday, it remains a low-volatility player compared to other Asian currencies like the Chinese yuan and Malaysian ringgit. However, the rupee isn’t without its challenges. Pressure on the yuan, potential U.S. tariffs, and signs of slowing local growth are casting shadows. Add to that India’s trade-weighted real effective exchange rate touching a record high, signaling an overvaluation north of 8%, and it’s clear the currency faces a tricky path ahead.