On January 16, 2025, Sun Pharmaceuticals Ltd, India’s largest pharmaceutical manufacturer announced that its US subsidiary, Taro Pharma has agreed with Canada-based biotech company Antibe Therapeutics. As part of the deal, Sun Pharmaceuticals will acquire 100% of Antibe Therapeutics’ shares. The acquisition is expected to close by March 7, 2025, according to the company’s announcement.

The transaction is contingent on a reverse vesting order and approval from the Ontario Superior Court of Justice (Commercial List), as stated by Sun Pharma.

Acquisition of Stake in Taro Pharma

In a related move, Sun Pharma had previously acquired the remaining 21.52% of Taro Pharma’s outstanding shares for a cash consideration of $43 per share, totalling $347.73 million (₹2,891.76 crore, based on the USD-INR exchange rate on January 18, 2024).

About Antibe Therapeutics

Antibe Therapeutics, headquartered in Ontario, Canada, is a clinical-stage biotechnology company focused on developing novel drugs aimed at reducing pain and inflammation.

Currently, Antibe is under the management of a court-appointed receiver, who is authorized to oversee its sale. Sun Pharma disclosed this information in a regulatory filing on Thursday, January 16. For the financial year 2023-24, Antibe’s revenue was reported as NIL.

Sun Pharma Q3FY25 Result

Sun Pharma announced on January 16, 2025, that its board will meet on January 31, 2025, to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2024. Additionally, the board will decide whether to declare an interim dividend for the financial year 2024-25. If a dividend is declared, the record date for eligibility will be February 6, 2025.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Capital Infra Trust share price made a flat debut on both the exchanges NSE and BSE and listed at ₹99 each against the issue price of ₹99-100 per unit. Backed by Gawar Construction, the infrastructure investment trust (InvIT) raised ₹703 crore from anchor investors.

Gawar Construction, the sponsor, is involved in developing road and highway projects across 19 states in India for various government and semi-government entities, including the Central Public Works Department, Mumbai Metropolitan Regional Development Authority, Ministry of Road Transport and Highways, and NHAI.

Capital Infra Trust InvIT IPO Details

Capital Infra Trust InvIT IPO was closed on Thursday, January 9, and was subscribed 2.80 times overall. The portion for other investors was subscribed 5.08 times, while the institutional investor portion saw a subscription of 93%.

Capital Infra Trust InvIT IPO specifics: The IPO comprises a fresh issuance of units worth ₹1,077 crore and a sale of units up to ₹501 crore by the selling unitholder, Gawar Construction Ltd., totalling ₹1,578 crore.

Use of IPO Proceeds

The company has decided to use the funds raised to provide loans to special purpose vehicles (SPVs) of the project to settle external debts and repay unsecured loans taken from the sponsor.

About Capital Infra Trust

Capital Infra Trust, established in September 2023, is an infrastructure investment trust (InvIT) sponsored by Gawar Construction Limited. The trust was formed to make investments and engage in activities as an InvIT in accordance with SEBI’s InvIT Regulations.

As of December 2024, Gawar Construction’s portfolio includes 26 road projects under the hybrid annuity mode (HAM) with NHAI. Of these, 11 projects have been completed, including five assets previously owned by Sadbhav Infrastructure Projects Limited, while 15 projects are still under construction.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

LTIMindtree Ltd reported its financial results for the quarter ended December 31, 2024, showcasing moderate growth in revenue, while profitability experienced some pressure. The company reported revenue amounting to ₹96,609 million, up by 2.4% QoQ and 7.1% YoY. Net profit stood at ₹10,867 million, showing a decrease of 13.2% QoQ and 7.1% YoY.

In USD terms, the company recorded a revenue of $1,138.7 million, marking a 1.1% increase quarter-over-quarter (Q-o-Q) and a 5.1% rise year-over-year (Y-o-Y). Operating margin (EBIT) stood at 13.8%, reflecting a stable performance. However, net profit in USD declined by 14.3% Q-o-Q and 8.8% Y-o-Y, amounting to $128.1 million.

Client Growth and Workforce Expansion

As of December 31, 2024, LTIMindtree reported having 742 active clients, indicating a steady demand for its services. The company continues to see significant growth in its high-value client base, with the number of clients generating over $5 million in annual revenue increasing by 3 to a total of 152. Additionally, the number of clients contributing over $10 million and $50 million in annual revenue also grew, reaching 90 and 13, respectively.

On the workforce front, the company added 2,362 professionals in Q3 FY25, bringing the total headcount to 86,800. However, the trailing 12-month attrition rate stood at 14.3%, indicating a need for further efforts in talent retention.

Key Deal Wins Focused on AI and Digital Transformation

LTIMindtree secured several significant deals during the quarter, with a particular focus on AI-driven solutions across multiple industries. Some of the notable wins include:

• A global manufacturing company selected LTIMindtree to manage its IT landscape using the company’s AI in Operations platform.
• A leading global investment firm chose LTIMindtree’s proprietary AI in Infrastructure platform to handle its infrastructure services.
• LTIMindtree was also chosen by a prominent Middle Eastern nuclear energy company for end-to-end IT services using the AI in Operations platform, and by a major oil and gas company in the region to implement AI in cloud operations.

Additionally, LTIMindtree secured deals with clients across sectors like insurance, commercial property, and credit ratings, where it will deploy its AI and data management platforms.

Strategic Partnerships to Drive Innovation

LTIMindtree strengthened its position in the AI and cloud domains through several strategic partnerships. The company attained AWS GenAI competency, further solidifying its AI expertise on AWS platforms like Amazon Bedrock and Quicksight. This achievement marks LTIMindtree’s 11th AWS specialization and enhances its credibility in the AI innovation space.

Moreover, LTIMindtree and Microsoft have teamed up to drive AI innovation and digital transformation for global enterprises. The partnership will leverage Microsoft technologies like 365 Copilot and Canvas Sunshine.

LTIMindtree also launched a comprehensive solution for Oracle Database Migration to Azure Cloud, enabling smoother transitions and optimized performance for clients. In recognition of its prowess, LTIMindtree received several accolades, including ServiceNow’s ITOM visibility achievement and Boomi’s Asia Partner of the Year Award.

LTIMindtree shares opened at ₹5,780.30 and touched the day low of ₹5,780.30 at 09:20 AM, reflecting a fall of ~2% against the previous day close.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Havells India, the country’s largest home appliances manufacturer by market value, reported a nearly 2% decline in Q3FY25 profit on Thursday, as higher labour and advertising expenses impacted margins.

Havells Q3FY25 Results: Revenue Rose 11%

The company’s profit for the three months ending December 31 fell to ₹283 crore, compared to ₹288 crore in the same period last year. Havells reported an 11% increase in revenue from operations, reaching ₹4,883 crore, while total expenses grew by 12.3% to ₹4,564 crore. The company’s EBITDA margin stood at 8.7% for the quarter, down from 9.8% in the corresponding period of the previous fiscal year.

Havells Segment Overview

• The real estate and project business drove growth in the domestic switchgear segment, although industrial switchgear (IP) showed softness.
• Power cables saw strong growth, with the Tumkur plant, still in its ramp-up phase, contributing to the increase.
• The softness in copper prices led to channel destocking in wires, negatively affecting revenue.
• Lighting showed decent volume growth, although revenues were impacted by persistent price deflation in LED products.
• The ‘Others’ segment continued its growth momentum.
• Lloyd’s performance remained steady during the quarter.

Havells Interim Dividend

The board of directors declared an interim dividend of ₹4 per equity share (400% on the equity share capital of ₹1 each). This dividend will be paid to shareholders whose names appear in the register of members as of the record date, January 22, 2025. Shareholders will receive the dividend on or before February 14, 2025.

Havells shares price opened at ₹1,544.95 and touched the day high of ₹1617.95 at 09:25 AM, reflecting a rise of ~1.14% against the previous day close

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

On January 17, 2025, TCS shares to trade ex-date, which means that the shareholders registered in the company’s books as of today will be eligible for the IT giant ₹76 interim and special dividend. On January 9, 2025, TCS announced a 3rd interim dividend of ₹10 and a special dividend of ₹66 per Equity Share of ₹1 for each of the Company.

TCS Dividend History

TCS Leadership Take on Q3FY25 Earnings

During Q3FY25, TCS reported a revenue of ₹63,973 crore, marking a growth of 5.6% year-over-year (YoY), with a 4.5% increase in constant currency (CC). This growth was primarily driven by the Consumer Business Group, which grew by 1.1%, as well as by the Energy, Resources, and Utilities sector, which saw a 3.4% increase.

K Krithivasan, Chief Executive Officer and Managing Director said: “We are pleased with the excellent TCV performance in Q3 which was well-rounded across industries, geographies and service lines lending good visibility to long-term growth. BFSI and CBG returning to growth, continued stellar run of Regional Markets and early signs of revival in discretionary spending in some verticals give us confidence for the future. Our continuing investments in upskilling, AI/Gen AI Innovations and partnerships set us up to capture the promising opportunities ahead.”

Samir Seksaria, Chief Financial Officer, said: “In a quarter that saw significant cross-currency volatility, TCS’s strong execution, cost management and deft currency risk management helped deliver healthy margin improvement and free cash flows. Disciplined investments in talent and infrastructure should lend good support to long-term business growth.”

Milind Lakkad, Chief HR Officer, said: “We promoted over 25,000 associates this quarter which brought the total promotions this financial year to more than 110,000. We continue to invest in employee upskilling and overall well-being. Our campus hiring for the year is going according to plan and preparations are afoot to onboard a higher number of campus hires next year”.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

The Indian stock market extended the gains for the third straight day on January 16, 2025. The BSE Sensex closed 0.42% higher at 77,042.82, while Nifty50 rose 0.42% to 23,311.80. During the session, many stocks, including Reliance Power and Aeroflex Industries hit circuit limits, indicating significant price movements. Here is the list of stocks hitting lower and upper circuits today.

Stocks That Hit Lower Circuit on January 16, 2025

Stocks That Hit Upper Circuit on January 16, 2025

Overview of Companies Hitting Circuits Today

Sterling and Wilson Renewable Energy

Sterling and Wilson Renewable Energy shares hit a 10% upper circuit and reached the day high of ₹466.75 on NSE after opening at ₹430.00.

Aeroflex Industries

Aeroflex Industries shares hit a 20% upper circuit and reached a day high of ₹223.35 after opening at ₹202.60 on NSE.

Reliance Power

Reliance Power shares hit an upper circuit of 5% and reached the day high of ₹41.20 after opening the trading session at ₹40.05 on NSE on Jan 16, 2024.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Praj Industries shares surged by up to 7% and touched the day high of ₹790.80 on January 16. The gain in Praj Industries shares came ahead of the Union Cabinet meeting and its anticipated decisions later in the day. According to CNBC Awaaz, a potential move to raise ethanol prices is expected.

Increase in Ethanol Prices

The proposed price increase includes ₹1.82 per litre for B-Heavy Molasses and ₹1.31 per litre for cane juice. Additionally, there is a suggestion to raise the price of C-Heavy Molasses by ₹6.87 per litre, bringing it to ₹56.28 from ₹49.41.

The government is already working toward a target of 20% ethanol blending in petrol by the end of the financial year, with the current blending rate standing at 15.83%. Praj Industries, an engineering firm, is a key player in providing solutions for distillery and brewery wastewater treatment and utilization. The company is also renowned for converting various sugar-based products—such as diluted juice, syrup, sugar, or B-Heavy Molasses—into ethanol.

Praj Industries Outlook

Praj Industries is targeting growth across various sectors, including sustainable aviation fuel (SAF), biopolymers, and energy transition & climate action (ETCA), with plans to triple its revenues by 2030. The company has built robust engineering expertise in modularisation and has established a state-of-the-art advanced manufacturing facility in Mangalore, Karnataka, with an investment of approximately ₹400 crore.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

The Delhi High Court has ruled in favour of Bharti Airtel and Indus Towers, affirming that telecom towers qualify as “movable” property and are thus eligible for input tax credit (ITC) under tax laws.

In its ruling on December 12, the court rejected the tax department’s argument that telecom towers should be classified as “immovable” property, which would render them ineligible for ITC.

Impact of Judgement

The judgment described the denial of ITC on this basis as “wholly untenable” and quashed the show cause notices issued to the companies regarding the disallowance of ITC on inputs used to build passive telecom infrastructure, such as towers.

This decision is expected to bring relief to the telecom infrastructure sector, which has faced long-standing disputes over the tax classification of its assets.

On January 16, 2025, Bharti Airtel shares rose ~2%, reaching a day high of ₹1211.85 at 12:55 PM after opening at ₹1199.85 on BSE. While Indus Tower shares opened at ₹362.45, up ~1% and touched the day high of ₹362.45.

Indus Tower Q2FY25 Performance

During Q2FY25, Indus Towers reported consolidated revenue of ₹7,465 crore for the quarter, reflecting a 4.7% year-on-year (Y-o-Y) growth. Consolidated EBITDA reached ₹4,907 crore, a 42.0% increase Y-o-Y, with an EBITDA margin of 65.7%. Net profit for the quarter stood at ₹2,224 crore, marking a 71.7% Y-o-Y increase.

The Return on Equity (Pre-Tax) improved to 38.9%, compared to 20.4% on a Y-o-Y basis, while the Return on Equity (Post-Tax) increased to 29.0%, up from 15.1% Y-o-Y. Return on Capital Employed also improved to 22.9%, from 14.0% Y-o-Y. Additionally, the Q2 FY25 results included a write-back of ₹1,077 crore in provisions for doubtful receivables, driven by collections against past overdue amounts.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.