Gamco Share Price Surge as Board Approves Bonus Issue

GAMCO Limited, formerly known as Visco Trade Associates Ltd, conducted a Board Meeting on February 20, 2025. The company made significant decisions concerning a bonus share issue and an increase in authorised share capital. These resolutions are subject to shareholder approval and align with the company’s growth strategy.

Bonus Share Issue

The Board approved a bonus share issuance in the ratio of 5:4, meaning shareholders will receive five fully paid-up equity shares for every four shares held. The shares will have a face value of ₹2 each. This issuance will be executed using the company’s free reserves and share premium account. The total number of new equity shares to be issued is 30,017,500. The record date for eligibility will be communicated later, and the bonus shares are expected to be credited within two months of approval.

Increase in Authorised Share Capital

To support expansion, the Board also approved an increase in the company’s authorised share capital from ₹5.65 crore to ₹15 crore. The total number of equity shares will rise from 2.82 crore to 7.5 crore, each having a face value of Rs. 2. Consequently, the Memorandum of Association has been amended to reflect this change, pending shareholder approval.

Gamco Share Performance

As of February 21, 2025, at 2:26 PM, the shares of Gamco are trading at ₹85.50 per share, reflecting a surge of 5.69% from the previous day’s closing price. Over the past month, the stock has registered a decline of 21.63%.

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.

Tata Steel Acquires Equity Shares Worth ₹2,603 Crore in T Steel Holdings

Tata Steel, one of India’s leading steel manufacturers, has reinforced its international presence through a significant ₹2,603 crore acquisition of its Singapore-based subsidiary, TSHP. This move not only solidifies its foothold in the Singapore market but also aligns with its broader strategy of global growth. 

Acquisition Details

Tata Steel Limited has acquired 19,10,82,80,25 equity shares of T Steel Holdings Pte. Ltd. (TSHP) at a face value of USD 0.157 per share. The total investment amounts to $300 million (approximately ₹2,603.16 crore). As a result, TSHP will remain a fully owned subsidiary of Tata Steel.

Exchange Rate Reference

For currency conversion, Tata Steel has used the exchange rate of ₹86.7721 per USD, as published by the Reserve Bank of India (RBI) on February 17, 2025. 

Strengthening Global Presence 

TSHP is the Singapore-based subsidiary of Tata Steel, a leading Indian steel company. In this strategic move, Tata Steel acquired over 191 crore equity shares of TSHP for $300 million. This acquisition enhances Tata Steel’s global presence and reinforces its position in the Singapore market.

About the company 

Tata Steel, founded in 1907 by Jamsetji Tata, is a global steel producer operating in India, the UK, the Netherlands, Thailand and Canada. It manufactures and distributes steel products including hot-rolled, cold-rolled and galvanized steel. Recognized for excellence, it has received the World Economic Forum’s Global Lighthouse recognition and the Prime Minister’s Trophy for top performance.

Share Performance 

As of February 21, 2025, at 11:45 AM, with a market capitalisation of ₹1.74 trillion, the shares of Tata Steel Ltd are trading at ₹139.98 per share, reflecting a surge of 1.41% from the previous day’s closing price. Over the past month, the stock has registered a profit of 7.93%. The stock’s 52-week high stands at ₹184.60 per share, while its 52-week low is ₹122.62 per share.

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.

Senores Pharmaceuticals Acquires ANDA for Roflumilast Tablets

Senores Pharmaceuticals Limited (SPL) has acquired the USFDA-approved Abbreviated New Drug Application (ANDA) for Roflumilast 250 mcg and 500 mcg tablets from Breckenridge Pharmaceutical, Inc., a subsidiary of Towa International. 

This agreement was executed through its wholly-owned US subsidiary, Senores Pharmaceuticals, Inc.

IPO Proceeds Used for Acquisition

The acquisition is being funded through SPL’s IPO proceeds, in line with the company’s previously stated objectives. The transaction, as per the company, aligns with its focus on expanding its speciality distribution portfolio and entering segments with demand for niche, under-penetrated generic formulations.

Roflumilast and Its Market Size

Roflumilast is prescribed for severe Chronic Obstructive Pulmonary Disease (COPD) associated with chronic bronchitis. It is used to reduce the risk of exacerbations in such patients. The US market for Roflumilast is valued at approximately $32 million as per IQVIA (MAT June 2024) and $46 million according to Symphony (MAT September 2024).

Manufacturing in the US

The company has stated that Roflumilast tablets will be manufactured at its US facility. Senores currently operates two formulation manufacturing plants, one in Atlanta, USA (USFDA-approved) and another in Chhatral, India (WHO-GMP approved). 

It also has two API manufacturing sites in India, both located in Ahmedabad.

Operations and Approvals

Senores Pharmaceuticals is engaged in the development and distribution of generic pharmaceuticals across various regulated markets. The company has 24 ANDA approvals and 21 CMO/CDMO commercial products permitted for distribution in the US. It operates in more than 40 countries and has regulatory approvals from over 10 countries for its manufacturing facility in Chhatral.

Market Performance

As of February 21, 9:51 AM, Senores Pharmaceuticals Ltd is trading at ₹555.60, up ₹21.80 (4.08%) today. Since its listing on January 3, the stock has declined by 2.91% overall, but it has gained 9.08% in the past month.

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.

Solarium Green Energy Stock Hits Upper Circuit: Know Why

Solarium Green Energy Limited has secured orders worth ₹72 crore after its recent listing on the BSE SME platform. These orders include contracts from NTPC Vidyut Vyapar Nigam Limited (NVVN) and private clients for rooftop solar projects and the supply of solar photovoltaic (PV) modules.

₹55.84 Crore Orders from NTPC

The company has been awarded multiple contracts from NTPC Vidyut Vyapar Nigam Limited, amounting to ₹55.84 crore (excluding GST), for the development of grid-connected rooftop solar projects at various government locations.  The orders are divided into:

  • ₹34.22 crore for 10,267 kW Grid Solar Projects in Madhya Pradesh, Chhattisgarh, and Odisha
  • ₹21.54 crore for 6,929 kW Grid Solar Projects in Uttar Pradesh
  • ₹8.16 lakh for a 27 kW Grid Solar Project at REC Lucknow

The scope of work includes supply, installation, transportation, and maintenance of solar panels. The projects are part of a renewable energy initiative for the Central Armed Forces and the Ministry of Home Affairs. 

The company is expected to complete installation within 240 days from the date of receiving the order.

₹15.70 Crore Orders for Solar PV Modules

In addition to project development, Solarium Green has received ₹15.70 crore (excluding GST) worth of orders from multiple private clients for the supply of Bifacial Topcon Half-cut 132 Cells – Glass-to-Glass PV Modules (TRINA). The names of these clients have not been disclosed.

These solar modules will be supplied within two months from the date of the purchase order. 

Market Update

As of 9:28 AM on February 21, 2025, Solarium Green Energy Ltd is trading at ₹232.10, up ₹11.05 (5.00%) today. Over the past five days, the stock has dipped 0.62%, but since its listing on February 14, 2025, it has gained 4.34% overall.

The company has stated that these orders will be fulfilled within the given timelines, with a 10-year operations & maintenance contract applicable to the NTPC solar projects. 

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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.

Defence Ministry Signs ₹697.35 Cr Deals With ACE and JCB India

The Ministry of Defence (MoD) has signed contracts worth ₹697.35 crore with Action Construction Equipment Ltd (ACE) and JCB India Ltd for the supply of 1,868 Rough Terrain ForkLift Trucks (RTFLTs). These trucks will be used by the Indian Army, Indian Air Force, and Indian Navy to improve logistics and operations.

ACE Gets ₹420 Crore Contract

Of the total order, ACE has secured a ₹420 crore contract to supply 1,121 RTFLTs. The contract was signed in the presence of Defence Secretary R K Singh. The forklifts will be manufactured under the ‘Buy (Indian)’ category, which falls under the government’s push for domestic defence production.

The remaining 747 RTFLTs will be supplied by JCB India Ltd.

Local Manufacturing 

The procurement project is expected to support Micro, Small, and Medium Enterprises (MSMEs) involved in component manufacturing and assembly. The initiative is part of the Aatmanirbhar Bharat plan to increase domestic production in the defence sector.

RTFLTs are used for handling materials in defence operations. They will be deployed across various military bases and logistics hubs to transport supplies. The machines are to operate in rough terrains, improving efficiency in loading and unloading tasks.

Separate ₹1,220.12 Crore Deal for Radios

In addition to the RTFLT contracts, the MoD has also signed a ₹1,220.12 crore contract with Bharat Electronics Limited (BEL) for 149 Software Defined Radios (SDRs). These radios will be used by the Indian Coast Guard for secure communication and data sharing.

Market Impact

Following the announcement, as of February 21, 10:14 AM, Action Construction Equipment Ltd was trading at ₹1,197.00, down 4.03% today, 6.82% over the past month, but up 8.03% in the past year, while Bharat Electronics Ltd is at ₹254.80, down 2.09% today as of 10:15 AM.

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.

JM Financial Receives ₹230 Crore Tax Refund For Assessment Year 2008-2009

JM Financial Limited has received an order from the Deputy Commissioner of Income Tax regarding the assessment year 2008-09. The order, issued under Section 254 read with Section 143(3) of the Income-tax Act, 1961, states that the company will receive a tax refund of ₹230 crore, including interest. 

The order was received on February 19, 2025.

No Violations Reported

According to the company’s disclosure, no violations or contraventions were mentioned in the order. The refund process follows legal proceedings, with no adverse remarks against JM Financial.

The tax refund is expected to have a positive financial impact on JM Financial, as per the reports. While the company has not provided details on how the funds will be used, the refund amount is significant in monetary terms.

Official Statement

The company secretary and compliance officer, Hemant Pandya, has signed off on the disclosure made to the stock exchanges. The company has requested the exchanges to take note of the refund order and disseminate the information appropriately.

JM Financial has not provided any additional comments on the refund apart from the regulatory filing. Further updates on the financial impact or utilisation of the refund may be available in subsequent disclosures.

Background

JM Financial Limited is a financial services company based in Mumbai. The company operates in investment banking, wealth management, and asset management, among other financial segments. Its regulatory filings confirm compliance with applicable laws and procedures related to the tax refund.

As of February 21, 2025, 9:45 AM, JM Financial Ltd is trading at ₹104.65, up ₹1.65 (1.60%) today, despite being down 9.78% over the past month, but showing a 12.98% gain in the last six months.

Compliance and Disclosure

JM Financial has informed the stock exchanges about the order as per regulatory requirements. The disclosure was made under Regulation 30 of the SEBI LODR, which mandates listed companies to report material events. The information has been submitted to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

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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.

NFO Alert: Kotak Mutual Fund Launches CRISIL- IBX Financial Services 3-6 Months Debt Index Fund

Kotak Mahindra Mutual Fund has launched a new open-ended debt index fund, the Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund. The New Fund Offer (NFO) is open from February 21, 2025, to March 5, 2025. The allotment of units will take place on March 5, 2025.

  • Fund Category: Debt – Ultra Short Duration
  • Investment Type: Open-ended index fund
  • Minimum Investment: ₹100
  • Lock-in Period: none
  • Exit Load: nil
  • Risk Level: low to moderate
  • Plans Available: Growth and IDCW (Income Distribution cum Capital Withdrawal)
  • Benchmark: CRISIL IBX Financial Services 3-6 Months Debt Index

Investment Strategy

The fund follows a passive investment strategy, aiming to track the CRISIL IBX Financial Services 3-6 Months Debt Index. This index includes a mix of Commercial Papers (CPs), Certificates of Deposit (CDs), and corporate bonds, all with maturities ranging between three to six months. 

Investors can choose between Direct Plan and Regular Plan, depending on their investment preference. The goal is to generate returns similar to the index before expenses.

Fund Management 

The fund manager for this scheme is Manu Sharma, who will oversee the investments. Computer Age Management Services Pvt. Ltd. (CAMS) is the Registrar & Transfer Agent, handling operational aspects such as unit transactions and investor records.

Cost Considerations are as follows:

  • Stamp Duty: 0.005% on purchases, as per SEBI regulations.
  • Entry Load: nil
  • Exit Load: nil

As of December 31, 2024, Kotak Mahindra Mutual Fund manages an AUM of ₹4,88,984.35 crore. This fund adds to its range of debt-oriented schemes catering to investors looking for short-term, low-risk investments.

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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. 

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

NFO Alert: Kotak Mutual Fund Launches CRISIL-IBX Financial Services 3-6 Months Debt Index Fund – Direct Plan

Kotak Mahindra Mutual Fund has introduced the Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, an open-ended ultra-short-duration debt fund. The New Fund Offer (NFO)  is open for subscription from February 21, 2025, to March 5, 2025.

Fund Objective

The fund aims to generate returns that align with the CRISIL IBX Financial Services 3-6 Months Debt Index before expenses. This index consists of Commercial Papers (CPs), Certificates of Deposit (CDs), and corporate bonds, all with maturities ranging between 3 to 6 months.

Details

For a quick overview, here are the key details of the fund:

  • Category: Debt – Ultra Short Duration
  • Type: open-ended
  • Risk Level: low to moderate
  • Benchmark: CRISIL-IBX Financial Services 3-6 Months Debt Index
  • Fund Manager: Manu Sharma
  • Registrar & Transfer Agent: Computer Age Management Services Ltd.
  • Fund House: Kotak Mahindra Mutual Fund

Investment and Exit Load

Particulars Details
Minimum Investment (NFO Period) ₹100
Additional Purchase (Non-SIP) ₹100 and any amount thereafter
SIP Purchase ₹100 and any amount thereafter
Exit Load Nil
Lock-in Period None

The fund is available in two plans:

  • Growth
  • IDCW (Income Distribution cum Capital Withdrawal)

Risk and Suitability

The Riskometer classifies the fund under low to moderate Rrsk, meaning it carries some degree of risk, but significantly less than equity or long-term debt funds. Since the securities mature within 3 to 6 months, it falls under the ultra-short-duration category.

Investors can subscribe to the fund during the NFO period with a minimum of ₹100. The fund does not have an exit load, so units can be redeemed at any time without a penalty.

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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.

ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Files Draft

ICICI Prudential Mutual Fund, one of the known fund houses in the country has launched the ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, an open-ended index fund that tracks the CRISIL-IBX Financial Services 3-6 Months Debt Index. 

The fund invests in AAA-rated financial sector instruments with maturities between 3 to 6 months​.

Asset Allocation

The fund allocates 95%-100% of its assets to debt securities that are part of the index. The remaining 0-5% may be invested in money market instruments, including Treasury Bills, government securities (up to one year), and Tri-Party Repos​

Benchmark 

The fund is benchmarked against the CRISIL-IBX Financial Services 3-6 Months Debt Index and falls under the A-I risk category, indicating relatively low interest rate and credit risk​.

The total expense ratio (TER) is capped at 1%. There is no exit load, meaning investors can redeem units without additional charges​.

As an open-ended fund, investors can buy and redeem units on any business day. Redemption proceeds are typically processed within three business days. The Net Asset Value (NAV) is disclosed daily on the AMC’s website and the AMFI website​.

Other Details

The scheme is managed by Darshil Dedhia and Nikhil Kabra, both of whom have experience in debt fund management​.

  • Minimum investment during NFO: ₹1,000 and in multiples of ₹1.
  • Minimum additional purchase: ₹500.
  • Minimum redemption amount: Any amount​.

The fund offers 2 plans: a Direct Plan (lower expense ratio) and a Regular Plan. Investors can choose between Growth And Income Distribution cum Capital Withdrawal (IDCW) options​.

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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. 

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

Paytm Introduces Solar Soundbox, Empowering Indian Merchants

Paytm (short for Pay Through Mobile) is one of India’s most prominent fintech companies, revolutionising digital payments, financial services, and commerce. Founded in 2010 by Vijay Shekhar Sharma under One97 Communications, the platform started as a mobile recharge and bill payments service but rapidly evolved into a comprehensive digital payments ecosystem.

Solar Soundbox For Merchants 

Paytm (One 97 Communications Limited) has announced the launch of its Paytm Solar Soundbox’ for merchants, a first-of-its-kind in India. This innovative device requires minimal sunlight for a quick charge that provides full-day power, enabling uninterrupted payments and reliable, consistent service for India’s small shop owners and merchants.

Expertise of Solar Soundbox From Paytm

Paytm Solar Soundbox is an environmentally friendly solution that uses a low-cost alternative energy source, ensuring that merchants in rural and remote areas as well as places experiencing electricity shortage can be a part of the digital ecosystem. With this, Paytm continues to support merchants, promote financial inclusion, and drive sustainable practices across the country.

This affordable device is equipped with a solar panel on top, allowing it to auto-charge under sunlight. It features two batteries one that charges with solar energy and another that charges with electricity. Even if completely discharged, the solar battery can provide a full day of power after just 2-3 hours of sun exposure, while the electricity-powered battery can last up to 10 days without recharging. 

Paytm Soundbox Features

Designed specifically for India’s small merchants, including hawkers, cart vendors, artisans, craft sellers, flower sellers, and many other street vendors, the Paytm Solar Soundbox is a lightning-fast 4G-connected device. A standout feature is its high-quality audio payment confirmation through a powerful 3-watt speaker, ensuring that merchants can hear payment notifications even in noisy environments. The device supports audio notifications in 11 languages, catering to a diverse range of merchants and customers across India.

Share Price Performance 

At 09:27 AM today, One 97 Communications Ltd shares opened 2.77% up at ₹776.50 per share on the NSE.

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.