Hazoor Multi Projects to Establish 500 MW Solar Park in Andhra Pradesh

Hazoor Multi Projects Limited (HMPL) has proposed a 500-megawatt solar power project in Andhra Pradesh. The investment of ₹2,500 crore will facilitate the development of a large-scale renewable energy initiative in Prakasam district.

Proposal and Government Support

HMPL has submitted a proposal to set up a solar park over 2,000 acres in Prakasam district. The Andhra Pradesh government has acknowledged the proposal, with the New & Renewable Energy Development Corporation (NREDCAP) set to oversee the successful execution of the project. The state authorities have requested HMPL to submit a detailed project report (DPR) for further evaluation.

Expansion in Renewable Energy

HMPL has been actively expanding its presence in the renewable energy sector. Last week, the company announced its entry into the domestic clean energy market with a 1.2 GW renewable energy project spread across 4,200 acres in Maharashtra. Additionally, HMPL continues its involvement in road construction projects on an engineering, procurement, and construction (EPC) basis.

About HMPL

Hazoor Multi Projects Limited (HMPL), established in 1992, is an Indian company specialising in infrastructure development and real estate. The company operates as an Engineering, Procurement, and Construction (EPC) contractor, focusing primarily on road construction projects. HMPL has undertaken various national highway projects awarded by government authorities, including the Maharashtra State Road Development Corporation Ltd. and the National Highways Authority of India.

HMPL Share Performance

As of February 03, 2025, at 2:10 PM, HMPL shares are trading at ₹54.20, up 0.67% from yesterday. The stock has fallen 5.03% over the past month and has a 52-week range of ₹63.90 to ₹28.41.


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.

Reliance Retail Brings China’s Shein Back to India With a New Fast Fashion App

Reliance Industries, retail arm, Reliance Retail has reintroduced Shein to the Indian market through the Shein India Fast Fashion app, nearly five years after the brand was banned. The platform offers locally manufactured, affordable clothing, initially catering to major metropolitan areas, with plans for nationwide expansion.

Shein India Fast Fashion App Goes Live

The Shein India Fast Fashion app officially launched on Saturday, providing consumers with a wide range of trendy apparel starting at ₹199. The brand, now operating under Reliance Retail, focuses on locally produced clothing, ensuring accessibility and affordability. Initially, the app serves customers in New Delhi, Mumbai, and Bengaluru, with nationwide availability expected soon.

Reliance Retail Expands Its Fashion Market Presence

Reliance Retail’s decision to introduce a dedicated Shein app marks a significant shift from its usual strategy of integrating international brands into its Ajio platform. The launch directly challenges competitors like Myntra, which is owned by Walmart’s Flipkart. The move is also expected to influence Reliance’s market positioning and share price as it strengthens its foothold in India’s online fashion sector.

Reliance Industries Share Performance

As of February 3, 2025, at 12:10 PM, Reliance Industries shares are trading at ₹1,248.05, down by 1.26% from yesterday. The stock has been flat over the past month showing a minor fall of 0.25% and has a 52-week range of ₹1,608.80 to ₹1,201.50.

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.

GAVS’ Middle East Business Acquired by Happiest Minds for $1.7 Million

Happiest Minds Technologies has announced the acquisition of GAVS Technologies’ Middle East business for $1.7 million in cash. The deal involves acquiring three entities including InnovazIT Technologies LLC (Dubai), GAVS Technologies LLC (Oman), and GAVS Technologies Saudi Arabia. 

The acquisition is expected to be completed by March 15, 2025, subject to regulatory approvals and filings with the Reserve Bank of India (RBI).

Business Impact and Expansion

With this acquisition, Happiest Minds aims to consolidate existing customer relationships, contracts, and delivery teams in the Middle East. The acquired entities primarily cater to large enterprises in the Banking, Financial Services, and Insurance (BFSI) sector, offering application development, maintenance, and infrastructure support services. 

The businesses being acquired generate an annual revenue of approximately $6.4 million.

No Related-Party Transaction

Happiest Minds has confirmed that this acquisition is not a related-party transaction, and neither the promoters nor the promoter group have any financial interest in the acquired companies. The company stated that this is aimed at transitioning important customer relationships and contracts.

Financial Overview

Happiest Minds has a market capitalisation of ₹10,956.93 crore. In its latest financial report, the company recorded a total revenue of ₹374.6 crore, while operating profit stood at ₹86.5 crore. The acquisition follows Happiest Minds’ strategy of expanding its business presence in the Middle East, particularly in the BFSI and IT services sectors.

After the announcement, Happiest Minds’ share price rose by 4.39% to ₹726.30 during intraday trade today,  on Monday. At 12:24 PM, the stock was trading at ₹718, showing a 3.21% increase. However, over the past six months, the company’s stock has declined by 10%, and over the last year, it has fallen by 17%.

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

Ola Electric to Launch Roadster X on February 5, 2025

Ola Electric is to introduce its first electric motorcycle, the Ola Roadster X, on February 5, 2025. The company had previously announced the prices of its upcoming bikes on August 15, 2025, and showcased them at Auto Expo 2025. The Roadster X will be the entry-level model in the Roadster lineup, with other variants expected later in the year.

Ola Electric Mobility Ltd shares are currently trading at ₹73.85, down 0.48% today as of February 3, 1:46 PM. The stock has declined 18.97% over the past six months but has gained 10.22% in the last five days.

Specifications and Pricing

The Ola Roadster X will come with a 4.5kWh battery that offers a claimed 200 km range and a top speed of 124 kmph. The prices start at ₹74,999 and go up to ₹99,999 (ex-showroom), depending on the variant.

Production and Expected Deliveries

Ola Electric’s CEO, Bhavish Aggarwal, recently shared an image of the Roadster X, stating that production has started. With the launch scheduled for February 5, deliveries are expected to begin soon after.

Stock Exchange Intimation

The company officially informed the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) about the launch. The announcement also mentioned that the event will be live-streamed at 10:30 AM on February 5.

Upcoming Models

Apart from the Roadster X, Ola plans to introduce higher-end models like the Roadster and Roadster Pro later this year. The company has been expanding its EV portfolio, moving beyond electric scooters into motorcycles.

Where to Watch the Launch

The launch event will be streamed online, and updates will be available on Ola Electric’s website and investor relations page.

Ola Electric has not yet disclosed details about charging infrastructure, battery replacement options, or financing plans for the new bike. More information is expected at the launch event.

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

SBI Nifty IT Index Fund: NFO Opens on February 4

SBI Mutual Fund has launched the SBI Nifty IT Index Fund, an open-ended scheme that aims to track the Nifty IT Index. The fund will primarily invest in stocks that are part of the index, giving investors exposure to major Indian IT companies.

Subscription Period and Investment Details

The New Fund Offer (NFO) will be open for subscription from February 4, 2025, to February 17, 2025. After this period, the scheme will be available for continuous sale and repurchase starting February 3, 2025.

Investors can enter the scheme with a minimum investment of ₹5,000, and additional investments can be made in multiples of ₹1. The fund also offers Systematic Investment Plans (SIPs) with options for daily, weekly, monthly, quarterly, semi-annual, and annual contributions.

Investment Allocation

The scheme will allocate between 95% and 100% of its assets to stocks in the Nifty IT Index. The remaining up to 5% will be invested in Government securities, including G-Secs, State Development Loans (SDLs), Treasury Bills, and other RBI-approved instruments. Investments may also be made in liquid mutual funds and tri party repos.

Fund Objective

The objective of the SBI Nifty IT Index Fund is to provide returns that align with the Nifty IT Index, subject to tracking error. However, there is no guarantee that the fund will achieve this objective.

Composition of the Nifty IT Index

The Nifty IT Index consists of 10 companies from the IT sector listed on the NSE. These companies are involved in areas like software development, IT infrastructure, and hardware. To be included in the index, companies must be part of the IT sector and the Nifty 500 at the time of review.

All in all, this index fund is a passive investment option that tracks a specific sector. As with any investment, performance will depend on market conditions and sector trends. Investors should consider their risk appetite before investing.

Plan your SBI SIP investments better! Use our easy-to-use SBI SIP Calculator and estimate future returns with just a few clicks. Your financial growth starts here.

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 are subject to market risks, read all scheme-related documents carefully.

NFO Alert: Bandhan Mutual Fund Launches Fixed Maturity Plan – Series 209

Bandhan Mutual Fund has launched the Bandhan Fixed Maturity Plan (FMP) – Series 209, a close-ended debt scheme with a 93-day tenure. The New Fund Offer (NFO) opens on February 3, 2025, and closes on February 10, 2025. Once the NFO period ends, fresh investments won’t be allowed, but the scheme is proposed to be listed on BSE Limited (BSE) for trading.

Investment Objective

The scheme aims to generate income by investing in a portfolio of debt and money market instruments that mature on or before the completion of 93 days. It follows a fixed tenure structure, meaning the fund manager will select instruments aligned with this timeline to manage interest rate and reinvestment risks.

Features

  • Minimum Investment: ₹5,000 and multiples of ₹1 thereafter
  • Exit Load: Nil
  • Entry Load: Not applicable
  • Benchmark: Nifty Ultra Short Duration Debt Index A-I
  • Plans Available: Growth and IDCW (Income Distribution cum Capital Withdrawal)
  • Risk Level: Low to Moderate

Fund Management

The scheme is managed by Harshal Joshi, a fund manager with Bandhan Asset Management Company Limited. His role includes selecting debt and money market instruments that fit within the defined risk and maturity parameters of the scheme.

Listing and Liquidity

Being a close-ended fund, units will not be redeemable before maturity. However, investors can trade units on BSE Limited once listed, allowing some flexibility to exit the investment before the tenure ends.

All in all, Bandhan FMP – Series 209 is for short-term investments with a predefined maturity period. It follows a structured approach to investing in debt instruments while maintaining a low to moderate risk profile. 

Investors looking for short-duration debt exposure can consider this fund, keeping in mind the fixed lock-in period and all the risks associated.

Ensure steady returns with systematic withdrawals! Estimate your withdrawals with our SWP Calculator and manage your finances seamlessly.

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 are subject to market risks, read all scheme-related documents carefully.

NFO Alert: Kotak Mutual Launches Fund Nifty 100 Equal Weight ETF

Kotak Mahindra Mutual Fund has introduced the Kotak Nifty 100 Equal Weight ETF, an open-ended exchange-traded fund (ETF) to track the Nifty 100 Equal Weight Index. Unlike traditional market-cap-weighted indices, this index will help ensure equal allocation across 100 stocks, reducing reliance on a few large companies. The fund follows a passive investment approach, adjusting holdings as per index rebalancing.

NFO Details

The New Fund Offer (NFO) period begins on February 3, 2025, and closes on February 17, 2025. Investors can enter with a minimum investment of ₹5,000. The fund does not require incremental investments beyond the initial amount.

Feature Details
NFO Dates February 3, 2025 – February 17, 2025
Exit Load Nil
Risk Level Very High
Fund Manager Devender Singhal
Benchmark Nifty 100 Equal Weight Index (Total Return Index – TRI)
NAV Calculation Daily
Repurchase/Redemption Through stock exchanges at market prices

Investment Objective

The scheme aims to replicate the Nifty 100 Equal Weight Index, seeking returns in line with its performance. However, tracking errors may cause deviations, and there is no guarantee of returns.

Fund Manager and Risk Level

The fund is managed by Devender Singhal, who oversees multiple equity strategies at Kotak Mutual Fund. Since this ETF is fully invested in equities, it carries a very high-risk classification, making it suitable for investors with a long-term horizon.

Benchmark and Liquidity

The ETF is benchmarked against the Nifty 100 Equal Weight Index (Total Return Index – TRI). Units will be listed on stock exchanges and traded at market prices. Investors can buy and sell units during trading hours, similar to regular stocks. The Net Asset Value (NAV) will be calculated daily and published on the fund’s website.

How This ETF Works

Traditional index funds allocate a higher weight to large-cap stocks, leading to concentration in a few companies. This ETF distributes weight equally among 100 stocks, ensuring broader diversification. However, returns will still be subject to overall market movements.

Curious about your SBI SIP returns? Get accurate estimates of your investment growth using our SBI SIP Calculator and stay ahead of your financial goals.

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 are subject to market risks, read all scheme-related documents carefully.

Urban Challenge Fund: A ₹1 Lakh Crore Initiative For City Growth in Budget 2025

The Indian government has announced the establishment of an Urban Challenge Fund worth ₹1 lakh crore in the Union Budget 2025. This initiative aims to transform cities into key growth hubs by addressing urban development challenges and fostering sustainable infrastructure.

Urban Development and Infrastructure: 1 Lakh Crore Challenge Fund

The ₹1 lakh crore Urban Challenge Fund is a significant step towards revamping urban infrastructure across the country. This fund will support projects aimed at transforming cities into centres of growth, providing for the creative redevelopment of urban areas, and addressing water and sanitation challenges.

As part of the government’s strategy to incentivise urban reforms, the fund will cover up to 25% of the cost of feasible projects, with a stipulation that at least 50% of the financing comes from bonds, bank loans, or public-private partnerships (PPPs). An initial allocation of ₹10,000 crore has been earmarked for the fiscal year 2025-26 to begin the implementation of these ambitious plans.

Budget’s Comprehensive Focus 

The Union Budget 2025 spans a variety of crucial sectors such as taxation, power, urban development, mining, financial services and regulatory reforms. The government’s focus is on promoting growth, enhancing infrastructure, and improving governance, all while fostering sustainable development across these domains. The Urban Challenge Fund plans to transform the cities into growth hubs, keeping a focus on urban development and infrastructure.

Conclusion

The Urban Challenge Fund represents a significant step towards urban transformation, aiming to build resilient and modern cities. With a structured approach and effective implementation, this initiative has the potential to strengthen India’s urban framework and drive long-term economic growth.

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.

Budget 2025: Government Modifies Udaan Scheme for Better Connectivity

Finance Minister Nirmala Sitharaman, in her Union Budget 2025 speech on February 1, announced a modified Udaan Scheme to enhance regional air connectivity. The revamped scheme aims to add 120 new destinations across India, significantly expanding travel options for millions.

Since its inception, the Udaan Scheme has facilitated over 1.5 crore middle-class travellers, operationalised 698 routes, and connected 88 ports and airports. Building on this success, the modified version seeks to cater to 4 crore passengers over the next decade, ensuring faster and more affordable air travel for underserved regions.

Boosting Aviation in Remote and Hilly Areas

One of the notable aspects of the modified Udaan Scheme is its focus on helipads and smaller airports in remote, hilly, and northeastern regions. These enhancements aim to improve accessibility and mobility for communities in aspirational districts.

Additionally, the scheme includes the development of greenfield airports in Bihar, supplementing infrastructure projects such as the expansion of Patna Airport and the development of a brownfield airport in Bihta. These measures are expected to drive economic growth and improve connectivity in historically underserved areas.

Western Kosi Canal ERM Project: A Boon for Farmers

Apart from aviation, the budget also allocates financial support for the Western Kosi Canal ERM Project, which will benefit over 50,000 hectares of farmland in the Mithilanchal region of Bihar. The initiative aims to bolster agricultural productivity, ensuring better irrigation facilities and increased efficiency for farmers.

Tourism Development for Employment Generation

Tourism continues to be a pivotal sector for employment and economic growth. The government has announced a strategic plan to develop the top 50 tourist destinations in the country. This initiative will be executed in partnership with state governments through a challenge mode, wherein:

  • States will be required to allocate land for key infrastructure.
  • Hotels in these destinations will be integrated into the infrastructure HML (Harmonised Master List), fostering investment in the hospitality sector.

These measures aim to create jobs, drive tourism-led economic expansion, and improve facilities at India’s most visited travel hotspots.

Maritime Development Fund: A ₹25,000 Crore Initiative

To strengthen India’s maritime infrastructure, the government has introduced a Maritime Development Fund with a corpus of ₹25,000 crore. This fund will:

  • Provide distributed support and encourage competition in the maritime sector.
  • Have up to 49% government contribution, with the remaining funds sourced from ports and private sector investments.

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

Income Tax Slabs of Budget 2025: Rent TDS, Tax Deduction For Senior Citizens and Other Benefits

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 at 11 AM today. The Budget 2025, focused on providing tax relief to the middle class. One of the most significant announcements was an increase in the rebate limit under the new tax regime, ensuring that individuals earning up to ₹12 lakh annually will not have to pay any income tax.

Revised Income Tax Slabs Under the New Regime

Post-budget, the proposed tax slabs for individual taxpayers under the new regime are as follows:

  • Income up to ₹4,00,000 – No Tax
  • ₹4,00,001 to ₹8,00,000 – 5%
  • ₹8,00,001 to ₹12,00,000 – 10%
  • ₹12,00,001 to ₹16,00,000 – 15%
  • ₹16,00,001 to ₹20,00,000 – 20%
  • ₹20,00,001 to ₹24,00,000 – 25%
  • Above ₹24,00,000 – 30%

This restructuring aims to ease the tax burden on salaried individuals, particularly the middle-income group. Additionally, the standard deduction for salaried taxpayers has been raised to ₹75,000, effectively increasing the tax-free income limit to ₹12.75 lakh.

Rent TDS: A Relief for Tenants

The budget also introduced a significant change in the Tax Deducted at Source (TDS) on rent. The annual threshold for TDS on rental payments has been raised from ₹2.40 lakh to ₹6 lakh. This means that individuals paying rent up to ₹6 lakh annually will no longer be subject to TDS deductions. 

Tax Exemption on Foreign Education Remittances

A notable amendment in the budget is the exemption of Tax Collected at Source (TCS) on remittances for educational purposes. If an individual takes an education loan from a specified financial institution, they will now be exempt from TCS when sending money abroad for education. 

Increased Tax Deduction Limits for Senior Citizens

To support senior citizens, the budget has proposed an increase in the tax deduction limit on interest income. The limit has been doubled to ₹1 lakh, allowing senior citizens to enjoy higher tax savings on their fixed deposit and savings account interest earnings.

Extension of Vivad Se Vishwas 2.0 Scheme

The government has also provided updates on the Vivad Se Vishwas 2.0 scheme, a tax dispute resolution mechanism. As per the finance minister, 33,000 taxpayers have availed themselves of this scheme to settle direct tax disputes. 

Startups and Tax Benefits

In a push to encourage entrepreneurship, the budget has extended the period of incorporation for startups to avail tax benefits by 5 years. This move is expected to provide young businesses with more financial flexibility and a longer runway for tax exemptions.

Extended Time Limit for Filing Updated Tax Returns

Taxpayers now have more time to rectify their tax filings. The budget proposes extending the deadline for filing updated returns from the current 2 years to 4 years. This will allow individuals and businesses to correct past returns and comply with tax regulations without incurring hefty penalties.

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