Cyient DLM has secured a production contract with Boeing Global Services for precision-machined parts and assemblies. This agreement signifies a significant step in their partnership and highlights Cyient DLM’s growing expertise in delivering high-precision components to the aerospace industry.  

Advancing Aerospace Capabilities  

The contract underscores Cyient DLM’s advanced manufacturing capabilities and commitment to excellence in aerospace engineering. CEO Anthony Montalbano emphasised that this collaboration strengthens their relationship with Boeing and showcases their ability to meet high industry standards.  

Industry Certifications and Expertise  

Cyient DLM is a recognised leader in the aerospace and defence sector, holding AS9100C aerospace certification and being the first in India to receive NADCAP certification for Circuit Card Assembly. With over three decades of experience, the company specialises in manufacturing prototypes, precision machining and additive manufacturing.  

Commitment to Innovation  

As an integrated electronics manufacturing solutions provider, Cyient DLM offers design-led manufacturing solutions, including design, testing and certification support. Their global presence and focus on safety-critical electronics in regulated industries reinforce their role as a transformative force in aerospace and defence technology.

Diverse Manufacturing Capabilities  

Cyient DLM specialises in end-to-end manufacturing solutions including small-batch production, box builds, sub-assemblies and full-system integration. The company also leverages additive manufacturing (3D printing) for proof-of-concept designs, design verification and functional testing, ensuring innovative and high-quality solutions for its clients.

Share Price Performance 

As of February 12, 2025, at 9:25 AM, shares of Client DLM are trading at ₹425.60 per share, reflecting a surge of 0.87% from the previous day’s closing price. Over the past month, the stock has registered a loss of 28.10%. The stock’s 52-week high stands at ₹883.80 per share, while its 52-week low is ₹413.85 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.

Indian Overseas Bank (IOB) has announced a revision in its External Benchmark Lending Rate (EBLR), following the Reserve Bank of India’s (RBI) recent decision to lower the Repo Rate. This adjustment aligns with the new monetary policy directive, effective from February 11, 2025.

RBI’s Repo Rate Cut and Its Impact

The Reserve Bank of India conducted its Monetary Policy Committee (MPC) meeting from 5th to 7th February 2025, concluding with a decision to reduce the Repo Rate by 25 basis points (bps). 

Consequently, the bank has adjusted its Repo Linked Lending Rate (RLLR) from 9.35% to 9.10%, reflecting the new Repo Rate of 6.25%, down from 6.50%. This reduction is aimed at enhancing liquidity in the financial system and easing borrowing costs for consumers.

Implications for Borrowers and the Banking Sector

With the revision in EBLR, borrowers with loans linked to external benchmarks, particularly the Repo Rate, are expected to benefit from reduced interest costs. 

The banking sector, in response, will adjust its lending strategies to accommodate the new rate structure. This change is also likely to influence overall credit demand and economic activity in the coming months.

IOB Share Performance

As of February 11, 2025, at 3:00 PM, shares of IOB are trading at ₹48.25 per share, reflecting a decline of 2.58% from the previous day’s closing price

Conclusion

Indian Overseas Bank has revised its External Benchmark Lending Rate following RBI’s decision to cut the Repo Rate. This move is expected to have a notable impact on borrowers and the banking sector by lowering lending costs and fostering financial stability.

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.

The Oil and Natural Gas Corporation Limited (ONGC), a prominent Indian central public sector undertaking, stands as the nation’s foremost government-owned explorer and producer of oil and gas. It commands approximately 70% of India’s domestic crude oil production and 84% of its natural gas output.

ONGC has Partnered with BP

In a strategic collaboration, ONGC has partnered with BP to revitalise production at the Mumbai High oilfield, a complex multi-layered field situated in India’s offshore Mumbai region. This partnership aspires to arrest the field’s production decline and chart a trajectory of sustainable growth.

Under the arrangement, BP will act as the Technical Services Provider (TSP), earning a fixed fee for two years, subsequently transitioning to a performance-based remuneration model linked to incremental oil and gas production.

The initiative aims to bolster oil recovery at Mumbai High through advanced sub-surface analyses, system optimisations, and enhanced reservoir management techniques. This alliance is expected to not only elevate India’s domestic hydrocarbon output, bolstering its economy but also yield lucrative service fee returns for BP.

Statement From BP Management 

Kartikeya Dube, BP India’s Head of Country and Chairman, stated: “This collaboration further underscores our steadfast commitment to oil and gas exploration and production in India. 

It creates value for both partners while supporting the nation’s vision for energy self-sufficiency and security.”Despite the collaboration, ONGC will retain ownership and operational control of the field. The venture will commence with BP deploying technical experts by March 2025, supported by a joint management team to ensure flawless execution.

Statement From Hardeep Singh Puri

India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, highlighted: “While ONGC retains ownership of the field, this landmark technological partnership will harness BP’s expertise in managing complex mature reservoirs, deploying advanced recovery technologies, and implementing global best practices to elevate production from this iconic asset.”

Statement From ONGC

Echoing these sentiments, ONGC Chairman and CEO Arun Kumar Singh remarked: “By engaging a TSP, ONGC aims to unlock the full potential of the Mumbai High field, leveraging cutting-edge technologies and world-class practices to safeguard its pivotal role in India’s energy future.”

ONGC Share Price Performance 

At 3:30 PM on February 11, 2025, Oil and Natural Gas Corporation Ltd shares traded at ₹239.40 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.

Chalet Hotels, a distinguished entity under the K Raheja Corp Group, has announced the acquisition of Mahananda Spa and Resorts, the proprietor of The Westin Resort & Spa, Himalayas, for an enterprise valuation of ₹530 crore. The acquisition, disclosed on Monday, marks a pivotal move in the company’s strategic expansion.

Acquired 100% Stake in Mahananda Spa and Resorts

This transaction involves Chalet Hotels securing a 100% stake in Mahananda Spa and Resorts, which is wholly owned by Mankind Pharma Limited.

In an official statement, Chalet Hotels highlighted that this acquisition bolsters its position in India’s burgeoning leisure, spiritual, and wellness tourism sectors, unlocking significant avenues for premium guest experiences and long-term value generation.

The 141-key luxury resort boasts more than 10,000 sq ft of sophisticated event spaces, making it a sought-after destination for upscale gatherings.

Statement From Company 

Sanjay Sethi, Managing Director and Chief Executive Officer of Chalet Hotels Limited commented, “This acquisition will be a defining milestone in our growth strategy, enabling us to broaden our footprint within India’s high-growth luxury and leisure segment. The Westin Resort & Spa, Himalayas, is a premier wellness retreat perfectly aligned with our aspiration to deliver world-class hospitality experiences.”

Sethi further remarked, “With its breathtaking locale and exceptional amenities, this remarkable property will fortify our leisure portfolio and empower us to meet the evolving expectations of discerning modern travellers.”

Mahananda Spa and Resorts Revenue

Mahananda Spa and Resorts reported revenue of ₹71.85 crore during the initial nine months of FY2025, compared to ₹74.33 crore in FY2024. Meanwhile, Chalet Hotels registered a revenue of ₹457.8 crore and a net profit of ₹96.5 crore in the December quarter.

A prominent player in India’s hospitality and real estate sectors, Chalet Hotels is renowned for owning, developing, and managing high-end properties across metropolitan hubs such as Mumbai, Hyderabad, Bengaluru, and Pune. It predominantly collaborates with esteemed international hospitality brands, including Marriott, to deliver unparalleled guest experiences.

Share Price Performance 

At 3:23 PM on February 11, 2025, Chalet Hotels Ltd shares traded at ₹698.85 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.

Credit card holders in India are facing a wave of changes as banks revise their fee structures, reward programmes, and spending conditions. Leading banks such as Axis Bank, HDFC Bank, SBI Card, and YES Bank have introduced new fees, adjusted spending thresholds, and restricted reward points across various categories.

With further modifications expected in 2025, it is crucial to understand how these changes may impact users and what steps can be taken to adapt.

Recent Changes in Credit Card Fees and Rewards

Several banks have recently updated their credit card terms, altering how customers earn and redeem rewards. Below is an overview of key revisions:

Axis Bank

• Introduced a new redemption fee for EDGE Rewards and Miles.
• Revised interest rates, penalty charges, and transaction fees.
• Additional fees are imposed on wallet loads, fuel transactions, and rent payments.

HDFC Bank

• Imposed a 1% fee on utility bills exceeding ₹50,000 and fuel transactions above ₹15,000.
• Introduced a reward redemption fee for statement credits.
• Increased annual fees for 6E Rewards cards.

SBI Card

• Discontinued reward points for transactions related to education, government payments, rent, and Bharat Bill Payment System (BBPS).
• Introduced a 1% fee on utility payments above ₹50,000.

YES Bank

• Capped reward points on flight and hotel redemptions.
• Introduced new spending thresholds for complimentary lounge access.

Bank of Baroda

• Increased interest rates for unpaid dues.

These changes indicate a shift in how banks manage their credit card benefits and associated costs.

Why Banks Are Revising Rewards and Increasing Fees

The increasing use of credit cards for high-value transactions such as rent, education fees, and utility payments has made it challenging for banks to sustain generous rewards.

Credit card rewards were initially designed to incentivise purchases across a broad range of categories. However, with users increasingly leveraging specific spending patterns to maximise benefits, banks have found it necessary to revise their programmes.

Additionally, reward point programmes are being tightened to prevent misuse. Some users have been exploiting loopholes by concentrating high-value transactions in specific categories or through select merchant partners. To counteract this, banks are modifying their offerings to maintain balance and ensure long-term sustainability.

Impact on Frequent Credit Card Users

For individuals who regularly use credit cards for travel, dining, or cashback benefits, these modifications may necessitate a reassessment of their spending strategies.

• Travel Benefits: Restrictions on lounge access and changes in flight and hotel reward redemptions could impact frequent flyers.
• Cashback and Rewards: Reduced reward earnings on specific categories may alter the overall value proposition of many credit cards.
• Spending Patterns: Increased fees on utility and rent payments could make these transactions less attractive on credit cards.

It is essential for users to stay informed about their respective credit card policies to avoid unexpected charges.

What’s Next for Credit Card Users?

As regulatory changes continue to influence the financial sector, banks are expected to further modify their credit card fee structures.

• Regulatory Oversight: The Reserve Bank of India (RBI) is increasingly pushing for greater transparency in credit card policies. Banks are now required to notify customers of any fee revisions via email.
• Impact of Expiring Bank-Network Contracts: The conclusion of exclusive agreements between banks and payment networks may lead to further modifications. Banks may reduce benefits on Visa and Mastercard credit cards, while some could enhance rewards on RuPay cards to attract customers.
• Ongoing Fee Adjustments: Banks will likely continue to evaluate the profitability of their credit card offerings, leading to potential further adjustments in annual fees, reward structures, and spending thresholds.

For now, credit card holders should stay updated on policy changes, track how new fees impact their spending, and assess their options accordingly to manage costs effectively.

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.