Share Market News

Delta Corp has announced plans to merge its subsidiary Deltatech Gaming Ltd with Head Digital Works Pvt Ltd. The transaction is valued at approximately 491 crore rupees and will be executed in two phases. This merger represents a significant corporate restructuring for Delta Corp in the gaming sector.

Ganesh Infraworld has been awarded a turnkey contract worth 129.8 crore rupees for water management and civil works across various projects in Kolkata. The Engineering, Procurement, and Construction (EPC) project has a duration of 24 months.

Zen Technologies has made a significant investment of $10 million in its US subsidiary, Zen Technologies USA. This move suggests the company is expanding its operations and presence in the United States market.

Cipla has obtained final approval from the US FDA for its New Drug Application (NDA) for Nilotinib capsules in 50, 150, and 200 mg strengths. Nilotinib is used to treat Philadelphia chromosome-positive chronic myeloid leukemia (CML). The company plans to launch the product in the US market during the fiscal year 2025-26.

The Securities and Exchange Board of India (SEBI) has issued an administrative warning to Indian Overseas Bank for failing to conduct a Nomination and Remuneration Committee meeting for the fiscal year 2024. This warning comes in the form of a letter addressing the bank's non-compliance with corporate governance norms.

The Burman Group has acquired control of Religare Enterprises and been designated as its promoters. They plan to focus on stability, governance, and growth. This follows a battle involving the ousted chairperson and a US-based investor. The Burman family's stake is set to increase to 53.94% after an open offer at Rs 235 per share.

NSDL is planning to launch its initial public offering worth Rs 3,000 crore by April. The IPO, which received SEBI approval in October, will consist solely of an offer for sale of up to 5.72 crore equity shares with a face value of Rs 2 each. ICICI Securities Ltd. is the lead book-running manager, along with several other financial institutions.

CIE Automotive India reported a 9.5% YoY increase in Q4 net profit to ₹184.9 crore, despite a 5.8% revenue decline. The company announced a final dividend of ₹7 per share for FY24, with a record date of April 23, 2025.

Sanofi Consumer Healthcare India Ltd approved a final dividend of ₹55 per share for FY2024. Q4 net profit fell 34.8% to ₹44.3 crore, revenue declined 24% to ₹170.7 crore, and EBITDA dropped 30.6% to ₹61.1 crore. EBITDA margin contracted to 36.4% from 39.9% YoY.

Nippon India Small Cap Fund purchased 8.33 lakh shares (1.13% stake) of Isgec Heavy Engineering Ltd. for Rs 76.3 crore at Rs 915 per share. Goldman Sachs India Equity Portfolio sold 10.4 lakh shares (1.41% stake) at Rs 915.49 per share. Isgec's Q3 net profit declined 65% to Rs 23.1 crore due to losses from its newly commissioned ethanol plant in the Philippines.

Sanofi Consumer Healthcare has announced a dividend of 55 rupees per share for its shareholders.

Sanofi Consumer Healthcare announced its Q3 financial results. The company reported a net profit of 443 million rupees, down from 679 million rupees year-over-year and 450 million rupees quarter-over-quarter. Revenue for Q3 stood at 1.7 billion rupees, a decrease from 2.2 billion rupees in the same quarter last year.

The board of Mahindra Lifespace Developers Ltd has approved raising up to Rs 1,500 crore through a rights issue. This decision allows the company to offer new shares to its existing shareholders, potentially strengthening its capital base for future growth and expansion.

The board of Mahindra & Mahindra Financial Services has approved a fund-raising initiative of up to Rs 3,000 crore through a rights issue. This decision indicates the company's strategy to strengthen its financial position and potentially fund future growth opportunities.

John Cockerill has reported its Q3 financial results. The company's net loss decreased to 15 million rupees, compared to a loss of 103 million rupees in the same quarter last year. However, revenue significantly declined to 723 million rupees from 2.5 billion rupees year-over-year.

The Securities and Exchange Board of India (SEBI) has issued directives to Texmo Pipes and Products regarding two financial matters. First, the company is instructed to recall a book entry loan from the accounts of Tapti Pipes & Products. Second, Texmo Pipes and Products is ordered to credit the outstanding amount of Global Depository Receipt (GDR) proceeds within a three-month timeframe.

Mahindra & Mahindra (M&M) has announced its intention to subscribe to the full extent of its rights entitlement in the equity shares of Mahindra & Mahindra Financial Services Limited (MMFSL) and Mahindra Lifespace Developers Limited (MLDL). Additionally, M&M plans to subscribe to any unsubscribed portion of these rights issues.

Rail Vikas Nigam Limited (RVNL), in consortium with HFCL and Aerial Telecom Solutions Pvt. Ltd., has signed a Project Implementation Agency (PIA) agreement with Bharat Sanchar Nigam Limited (BSNL). This agreement marks a significant collaboration between the consortium and the state-owned telecommunications company.

Metro Brands has announced a board meeting scheduled for February 28 to consider the declaration of a dividend for the financial year 2024-25. The company will evaluate and potentially decide on distributing profits to shareholders for the upcoming fiscal year.

Kamat Hotels (India) has entered into a management agreement for a new Orchid Hotel in Mandavi. The hotel operations are expected to commence by December 2027, marking an expansion of the company's hotel portfolio.

HG Infra Engineering Ltd has sold its 100% stake in Rewari Bypass Private Ltd to Highways Infrastructure Trust for ₹133.03 crore. The transaction was completed on February 20, 2025, after shareholder approval in August 2024. The divested entity contributed 0.12% to HG Infra's consolidated revenue in FY2024.

NACDAC Infrastructure has been awarded a contract valued at 177.3 million rupees. The news brief does not provide additional details about the nature of the contract or the client.

Vedanta, a major mining and metals company, is seeking Expressions of Interest (EOI) for a 5000MW captive nuclear power plant, according to a report by ETNOW. This move suggests Vedanta is exploring nuclear energy as a potential power source for its operations, which could have significant implications for the company's energy strategy and environmental footprint.

Narayana Hrudayalaya has laid the foundation stone for a new 1,100-bed hospital project called 'Narayana Health City' in Kolkata. The company plans to invest approximately ₹900 crore in the first phase of the project.

PhonePe has begun preparations for its initial public offering on the Indian stock exchanges. The Walmart-backed company announced this development on Thursday, indicating its intention to raise funds through a public issue.

SEBI passed a settlement order in the Electrosteel Castings case, involving alleged insider trading during the amalgamation with Srikalahasthi Pipes. 15 applicants, including company officials and related entities, agreed to pay fines totaling ₹18.64 crore and face debarment periods of up to 6 months.

Crompton Greaves Consumer Electricals expects to surpass $1 billion in sales this fiscal year, aiming for double-digit revenue growth. The company plans to enter a new segment and double turnover in 5-6 years under its Crompton 2.0 vision, focusing on consumer centricity, innovation, and profitability. Crompton is introducing new technology platforms and expanding its product range in fans, pumps, and lighting.

Walmart-backed digital payments company PhonePe has announced it is beginning preparatory steps for a potential Initial Public Offering (IPO) on Indian exchanges. The company has established a clear corporate structure with its non-payment businesses as fully owned subsidiaries. PhonePe cites strong top-line and bottom-line growth across its business portfolio as making this a suitable time to prepare for a public listing.

Sonata Software's stock dropped 24% after weak Q3 results due to client ramp-down. Recovery expected in H2 FY26. Company added 11 new clients but faces increased client concentration. FY26 revenue target of $1.5 billion delayed to FY27. Analysts maintain buy rating but reduce FY26 estimates.

Trident Ltd plans to triple its domestic business by FY27, targeting 50-60% CAGR. The company will invest Rs 1,000 crore in capex for FY25, with Rs 650 crore allocated for sustainability. Trident is launching a luxury segment 'Luxehome' and plans to add 500 premium retail stores this year. The company is also focusing on boosting online sales and sees increased export orders, particularly from the US market.

Tanla Platforms has announced that its subsidiary has incorporated PT Karix Communications Indonesia as a new subsidiary. This move is aimed at extending the company's business operations in Indonesia.

Heubach Colorants has announced that the Sudarshan Group is set to acquire the pigment business of the Heubach Group. The acquisition process is expected to be completed by March 2025, marking a significant development in the colorants industry.

National Securities Depository Ltd (NSDL) is aiming to launch its Rs 3,000-crore initial public offering by next month. The depository firm is working against time as its market infrastructure institution approval from SEBI is set to expire. The IPO will be a complete offer for sale, with NSE, SBI, and HDFC Bank planning to offload 5.72 crore equity shares.

PhonePe, India's largest fintech firm, has begun preparations for its potential initial public offering (IPO) on Indian stock exchanges. The company, valued at $12 billion in its last funding round in 2023, views this as a significant milestone as it approaches its 10-year anniversary.

Bharat Electronics Ltd. has received orders worth Rs 1,292 crore, including Rs 1,034 crore from the Ministry of Defence for software-defined radios and data communication terminals. Additional orders of Rs 258 crore include earth station for satellite communication and laser range finders. The company's total accumulated orders for the current financial year now stand at Rs 13,147 crore.

Samvardhana Motherson has established a wholly owned subsidiary in the United Arab Emirates. This new entity will provide treasury services for Samvardhana Motherson Automotive Limited (SAMIL) and its subsidiaries.

Power Finance Corporation (PFC) has incorporated a new wholly owned subsidiary named Kakinada I Transmission. This subsidiary has been established under PFC Consulting, which is itself a subsidiary of PFC.

PhonePe, the Walmart-owned fintech company, has begun preparations for its potential Initial Public Offering (IPO) on Indian stock exchanges. The company cites its strong growth across its business portfolio as a suitable reason to prepare for public listing. PhonePe had previously redomiciled from Singapore to India in December 2022 and restructured its non-payment businesses as fully owned subsidiaries.

CEIGALL INDIA has successfully achieved financial closure for two Hybrid Annuity Mode (HAM) projects. This indicates that the company has secured the necessary funding and financial arrangements to proceed with these infrastructure projects. HAM is a common model used in India for public-private partnerships, particularly in the road and highway sector.

Indian Telephone Industries Limited (ITI) has received the first installment of 1 billion rupees from the Centre for Development of Telematics (C-DOT) as part of a land transaction in Bangalore.

Kotak Mahindra Bank has made two significant appointments. Vyomesh Kapasi has been named as the new Head of Products for the Consumer Bank division. Additionally, Shahrukh Todiwala has been appointed as the new Managing Director and CEO of Kotak Mahindra Prime.

Fleur Hotels, a material subsidiary of Lemon Tree Hotels, has received a favorable arbitration award. The claimant is set to receive 114.7 million rupees plus 9% per annum interest.

Tata Steel has acquired equity shares worth $300 million (approximately ₹2,603.16 crore) in T Steel Holdings Pte. Ltd. (TSHP). Following this acquisition, TSHP will remain a wholly owned subsidiary of Tata Steel.

The board of Modern Insulators has approved an investment of 100 million rupees (approximately $1.2 million USD) in Sohum India Opportunities Fund. This investment will be made in tranches, suggesting a phased approach to the capital allocation.