Trackpad

VA Tech Wabag secures major desalination order, boosting growth prospects 

VA Tech Wabag (Wabag) has won a significant ₹2,700 crore order from the Middle East for a desalination plant, a value equivalent to its FY24 revenue. The entire project falls under the EPC (Engineering, Procurement, and Construction) category. Earlier this fiscal year, the management had indicated a strong bidding pipeline from the Middle East. In addition to this major win, Wabag has secured substantial repeat orders from Reliance for water treatment systems at their Dahej and Nagothane facilities. 

The company focuses on advanced EPC projects, industrial and international ventures, and aims to increase its share of Operation & Maintenance (O&M) contracts, which will enhance margins, and cash flows, and optimize the working capital cycle. As a midcap player in the capital goods industry, VA Tech Wabag stands out as a promising investment, marked by its recent all-time high and steady growth trajectory. 

Wabag is a global leader in water technology, offering a comprehensive range of solutions for total water management across both municipal and industrial sectors. Over the past three decades, Wabag has delivered over 1,400 customised municipal and industrial plants worldwide. The company has seen an impressive 270 per cent stock price growth in the past year, closing at ₹445 on October 16, 2023, up from ₹162 on October 14, 2022. This surge is attributed to multiple positive developments, supported by strong industry tailwinds, improving profitability, a robust order book, and an expanding portfolio of services. 

Arvind SmartSpaces surges on strategic project announcements 

Arvind SmartSpaces Ltd (ASL) witnessed a 9 per cent rise to close at `857.4 during the week ending October 11, 2024. The surge follows two significant announcements, reinforcing the company’s strategic growth trajectory. The first key development is the addition of a high-rise residential project on ITPL Road, near Whitefield, Bengaluru. This 4.2 lakh sq. ft. project, with a topline potential of ₹600 crore, will enhance ASL’s presence in one of Bengaluru’s prime residential hubs. The second major highlight is the launch of Aqua City near Ahmedabad, which recorded bookings of over ₹500 crore, adding to an earlier pilot phase of ₹93 crore, taking total bookings to ₹600 crore. Aqua City, situated on NH47, offers unique features, including India’s largest private 33-acre lake, three islands, a 38-acre golf course, and a lakeside clubhouse, making it a standout township. 

These announcements reflect ASL’s focus on creating iconic projects while expanding its portfolio in strategic markets, positioning the company for sustained growth. 

SpiceJet settles USD 23.39 million dispute with Aircastle (Ireland) and Wilmington Trust SP Services (Dublin) Ltd 

SpiceJet Ltd announced that it has successfully settled a USD 23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Limited for an aggregate sum of USD 5 million, together with an agreement in relation to the treatment of certain aircraft engines. Both parties have reached this agreement through amicable negotiations, choosing to resolve the matter outside the courtroom. As part of the settlement, all ongoing litigations and disputes between the parties will be withdrawn at the appropriate forums. 

According to Quarterly Results, the company reported net sales of ₹1,708 crore, operating profit of ₹49 crore and net profit of ₹158 crore in Q1FY25. In its annual results, the company reported net sales of ₹7,085 crore, an operating loss of ₹644 and a net l oss of ₹424 crore in FY24. The company has a market cap of over ₹8,500 crore. According to the shareholding pattern of September 2024, FIIs bought a 23.31 per cent stake and increased their stake to 25.12 per cent compared to 1.81 per cent in June 2024. 

Sudarshan Pharma Industries acquires 2,09,100 shares of Ishwari Healthcare 

The board of directors of Sudarshan Pharma Industries approved the acquisition of 2,09,100 equity shares of Ishwari Healthcare Private Limited (Ishwari Healthcare), representing 51 per cent of its paid-up equity share capital. Upon completion of the acquisition, Ishwari Healthcare will become a subsidiary of the company. Additionally, the board of directors of the company approved a subdivision/stock split of the company’s 1 (one) equity share having a face value of ₹10 each fully paid-up, into 10 equity shares of the company having a face value of Re 1 each fully paid-up, subject to the approval of shareholders and such other approvals as may be required. The reason behind the split is to enhance the liquidity of the company’s share and to make it more affordable for small investors and also to broaden the company's investor base. The company has a market cap of ₹960 crore and has delivered good profit growth of 37 per cent CAGR over the last 5 years. The stock gave multibagger returns of 587 per cent from its 52-week low of ₹58.20 per share. 

Vijay Kedia buys 10,00,000 shares of Precision Camshafts Ltd

An ace investor, Vijay Kedia, has increased his stake in Precision Camshafts Ltd through his firm, Kedia Securities Pvt Ltd. The firm purchased 10,00,000 shares, representing a 1.05 per cent stake, in September 2024. Additionally, Vijay Kedia personally owns another 10,00,000 shares, also amounting to a 1.05 per cent stake. As a result, he now holds a total of 20,00,000 shares, or a 2.10 per cent stake, in the company. Furthermore, another ace investor, Ajay Upadhyaya owns 20 lakh shares or 2.11 per cent stake in the company. Incorporated in 1992, the company is a leading manufacturer and supplier of camshafts in India and globally. It supplies more than 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications. 

The Small-Cap company has a market cap of over ₹2,400 crore. It reported positive numbers in its quarter results (Q1FY25) and annual results (FY24) and has been maintaining a healthy dividend payout of 22.3 per cent. Promoters hold the largest stake in the company, with a 65.37 per cent stake and the rest 34.63 is owned by FIIs, DIIs and public shareholders. The stock is up by 47.3 per cent from its 52-week low of ₹173.15 per share and gave multibagger returns of 785 per cent in 5 years. 

Premier Energies wins multiple work orders worth ₹765 crore from 8 domestic and one foreign customer

Premier Energies Limited announced that its subsidiaries, Premier Energies International Private Ltd and Premier Energies Photovoltaic Private Ltd., have secured multiple orders worth R 765 crore. These orders include R 632 crore for solar modules and R 133 crore for solar cells. The orders were received from a mix of eight domestic and one foreign customer. The supply of the modules is expected to begin in July 2025. The orders are one-time contracts with no long-term commitments. 

Premier Energies Limited is a leading integrated manufacturer of solar cells and modules, with nearly 30 years of experience in the solar industry. Its product portfolio encompasses solar cells, solar modules, monofacial and bifacial modules, EPC solutions and O&M solutions. The company operates five manufacturing facilities, all located on its own land in Hyderabad, India. Together, these facilities have an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules. 

As of July 31, 2024, the company had an order book of ₹5,926.57 crore. Its key customers across various business segments include NTPC, Tata Power Solar Systems Ltd, Panasonic Life Solutions Pvt Ltd, Shakti Pumps, First Energy, Bluepine Pvt Ltd and Luminous, among others. 

CESC Ltd on an expansion mode; acquires Deshraj Solar Energy Private Limited 

Purvah Green Power Private Limited (PGPPL), a subsidiary of CESC Limited, has announced the acquisition of Deshraj Solar Energy Private Limited (DSEL). DSEL is a renewable energy company developing a 300 MW solar power plant in India. This acquisition aligns with CESC's strategy to expand its renewable energy portfolio. The deal is expected to be completed within two days through a 100 per cent cash transaction. Postacquisition, DSEL will become a step-down subsidiary of CESC Limited. 

Additionally, Purvah Green Power Private Limited has incorporated a new wholly-owned subsidiary named JSK Renewable Private Limited. This subsidiary will focus on exploring opportunities in the renewable power sector. JSK Renewable Private Limited has an initial subscribed and paid-up capital of ₹1,00,000. As a wholly owned subsidiary, Purvah Green Power Private Limited holds 100 per cent of its shares. 

CESC Ltd is a leading Indian electrical utility company with a comprehensive portfolio spanning generation, transmission and distribution. It operates in West Bengal, serving over 3.4 million consumers. The company has a market cap of over ₹24,000 crore and has been maintaining a healthy dividend payout of 44.1 per cent. The stock gave multibagger returns of over 120 per cent from its 52-week low of ₹82.45 per share. 

Premier Polyfilm announces 5:1 stock split and business expansion in Tamil Nadu 

The Board of Directors of Premier Polyfilm Limited (PPL) has approved a stock split and the purchase of industrial land in Tamil Nadu for future expansion. The stock split will subdivide each existing equity share of ₹5 into five equity shares of Re 1 each. The record date for the stock split is November 5, 2024. The purchase of industrial land in Tamil Nadu is part of PPL's future expansion plans. 

Incorporated in 1992, Premier Polyfilm Ltd (PPL) is a leading manufacturer of vinyl flooring, PVC sheeting, and artificial leather cloth. These products are used in a wide range of industrial and consumer applications, making PPL a significant player in the market. With a manufacturing capacity of 32,000 MTPA, PPL supplies its products to various sectors, including Indian Railways and automotive OEMs. The company's distribution network spans across India. According to quarterly results, the net sales increased by 5 per cent to ₹70.50 crore and net profit increased by 61 per cent to ₹7.86 crore in Q2FY25 compared to Q2FY24. 

Aayush Wellness targets USD 28.9 billion beauty and personal care market 

Aayush Wellness Limited, a prominent player in the Indian nutraceuticals market, has recently introduced "Beauty Vitamins Gummies," a groundbreaking product designed to address the root causes of skin and hair problems. These gummies, formulated with essential vitamins and natural extracts, offer a comprehensive solution for individuals seeking to enhance their natural beauty. The company is targeting the USD 28.9 billion beauty and personal care market. 

The Indian beauty and personal care segment is witnessing a surge in demand, driven by increasing consumer awareness and a desire for effective self-care solutions. Aayush Wellness recognises this growing trend and aims to provide holistic, long-term solutions beyond the surface-level effects of traditional cosmetics. The company understands that poor nutrition is often at the heart of skin and hair issues, and its gummies are designed to address these underlying deficiencies. 

The company has a market cap of ₹272.35 crore and it is debt-free. The stock gave multibagger returns of 300 per cent in 6 months and a whopping 2,795 per cent in one year.