News that may have an impact on prices of some stocks today

Reliance Infrastructure, Diehl to expand their strategic partnership

Reliance Defence and Germany’s Diehl Defence said that they are expanding their strategic partnership to supply precision-guided munitions to the Indian Armed Forces. The main purpose of the current strategic Cooperation agreement is to focus on the urgent supply of the System Vulcano 155mm Precision Guided Munition for the Indian Armed Forces. This agreement will also benefit from Reliance’s current activities of setting up a greenfield manufacturing facility in the Watad Industrial Area, Ratnagiri, Maharashtra. This will eventually have an annual capacity to produce up to 200,000 artillery shells, 10,000 tonnes of explosives and 2,000 tonnes of propellant.

Interarch Building gets new order of Rs 45 crore

Company has received a purchase order today from a prestigious Automobile Original Equipment Manufacturer (OEM). The order is worth Rs 45 crore + taxes and above 3200 MT job. It is to be completed in the next six months.

Avantel subsidiary sets new facility in Visakhapatnam

Imeds Global Private Limited (“iMeds”), a wholly owned subsidiary of Avantel Limited, has set up a facility for Design, Development, and Manufacturing of Medical Products at Andhra Pradesh MedTech Zone (AMTZ), Visakhapatnam. The facility is spread over 2 acres of land, with a built-up area of approximately 25,000 sq. ft., and is equipped with clean rooms, assembly, and testing infrastructure for manufacturing medical products. The facility is scheduled to become operational from June 15, 2025.

L&T power transmission & distribution business gets new orders of Rs 5000 – 10000 crore

The Power Transmission & Distribution (PT&D) business vertical of Larsen & Toubro has won new grid infrastructure orders in India and abroad. These orders are worth ~Rs.5000 – 10000 crore.

Sonata Software to collaborate with IISc for AI

Sonata Software has announced its strategic partnership with IISc’s Foundation of Science Innovation and Development (FSID). The three-year collaboration aims to create an ecosystem that leverages Artificial Intelligence (AI) and its emerging areas to reimagine enterprises of the future backed by advanced research in Computer Science.

Wipro, Metro to extend their contract for 2 years

Wipro Limited announced the extension of its partnership with Metro AG (“Metro”), an international food wholesaler, for an additional two years. Under the renewed agreement, Wipro will continue to provide Metro with integrated digital services across cloud, data, application development, and AI-enabled IT support services.

HCL launches new enterprise security solution

HCL Tech announced the launch of a managed Secure Service Edge (SSE) solution developed with Cisco to enhance enterprise security and improve cyber incident response times. Secure Service Edge (SSE) is a cloud-based security framework that combines networking and security functions to provide safe and efficient access to applications and data.

HCL Tech announced an expansion of its partnership with Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals. This expanded partnership with The Standard will deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer experience.

Indian government announces viability gap funding of Rs 5,400 crore for new battery storage system

The Indian government announced a viability gap funding (VGF) worth Rs 5,400 crore for developing 30 gigawatt hour (GWh) of new battery energy storage systems (BESS) to ensure round-the-clock renewable energy capacities in the country.

CCI approves Blackstone’s acquisition of stake in Kolte-Patil Developers

The Competition Commission of India approved US private equity major Blackstone’s acquisition of Pune-based realtor Kolte-Patil Developers Ltd. The deal was announced in March. The Blackstone entity had acquired 14.3% stake in the company for Rs 417.03 crore through a preferential allotment route. Subsequently through a share purchase agreement, Blackstone can now acquire a 26% stake for Rs 759 crore.

Hindustan Petroleum’s Vizag refinery to process more of high Sulphur crude

Hindustan Petroleum’s Vizag refinery could see a sharp improvement in its Gross Refining Margin (GRM) as the management has indicated at processing more of the high sulphur crude oil – or sour crude – including both Russian as well as Arab grades.

ACME Solar Holdings subsidiary commissions phase III of 75 MW project

ACME Solar Holdings announced that its wholly owned subsidiary, ACME Sikar Solar, has now commissioned Phase-III of 75 MW of the said project. With this ACME Sikar Solar has achieved a commissioned capacity of 240 MW out of 300 MW and the balance capacity is under commissioning.

Jomei Investments to sell 1.4% stake in Aditya Birla Capital

Jomei Investments, a special purpose vehicle owned by Advent International Corporation, has launched a block deal to offload a 1.4% stake in financial services firm Aditya Birla Capital Ltd, amounting to Rs 856 crore. The floor price for the deal has been set at Rs 237.80 per share.

Texmaco Rail receives new order of Rs 44.04 crore

Texmaco Rail has received an order worth Rs 44.04 crore from Mumbai Railway Vikas Corporation Limited. The order involves the supply, construction, installation, testing, and commissioning of traction transformers, sectioning posts (SPs), and associated works for the third and fourth lines of the Central Railway.

Kaynes Semicon enters into asset purchase agreement with Fujitsu General Electronics

Kaynes Technology India Ltd’s wholly-owned subsidiary, Kaynes Semicon Private Ltd, has entered into an asset purchase agreement with Fujitsu General Electronics Limited, Japan.

Maruti reduces production target of its first electric vehicle due to rare earth minerals shortage

The company recently reduced its near-term production target for its first electric vehicle, the e-Vitara, by two-thirds due to a shortage of rare earth materials. The automaker now plans to produce 8,221 units between April and September, compared to the original target of 26,512. The production cut comes amid global disruptions caused by China’s export curbs on rare earths, which are essential for manufacturing magnets and other components used in electric vehicles.

New Maharashtra liquor policy aims at generating additional Rs 14,000 crore in revenue

In a major fiscal move, the Maharashtra government under Chief Minister Devendra Fadnavis has unveiled a revamped liquor policy aimed at generating an additional Rs 14,000 crore in annual revenue. The cabinet approved significant hikes in excise duties and introduced new regulatory measures, signaling a strategic push to strengthen state finances and streamline the liquor market.

Popular Vehicles and Services gets LoI from Maruti for opening new True Value outlet

The company has received a Letters of Intent (LoI) from Maruti Suzuki India Limited to establish a new independent True Value outlet for pre-owned vehicles in Bangalore, Karnataka.

Menon Bearings gets new order

Company has secured an order to supply approximately 75 lakh pieces per year to the US – based company, Allison Transmission. It is aggregating to around US$ 3.73 million per year.

Elin Electronics gets two new customers

Company has added two new customers in the lighting business segment. This is a sighificant milestone for Elin post the end of its exclusivity with Signify India. This development is expected to increase its market share in the lighting segment.

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Source: HDFC Securities Prime Research