Ganesha Ecosphere Limited (GESL) has signed a joint venture agreement with Race Eco Chain Limited (RACE) to set up washing plants to produce PET flakes. The joint venture company, named Ganesha Recycling Chain Private Limited, is expected to strengthen the supply chain for PET waste.
Ownership and Investment Details
Under the agreement, RACE will hold a 51% stake, while Ganesha will own 49% of the joint venture. Both companies will have equal representation on the Board of Directors.
For this venture, Ganesha has subscribed to 29,40,000 equity shares at ₹10 each, amounting to ₹29.4 crore. RACE has subscribed to 30,60,000 equity shares at ₹10 each, totalling ₹30.6 crores.
Purpose of the Joint Venture
The joint venture is part of Ganesha’s strategy to improve its raw material supply chain for PET waste. PET flakes are widely used in manufacturing recycled polyester fibre, which has applications in textiles and packaging.
Both companies have the right to appoint an equal number of directors to the board. Other terms include:
Right to first share subscription in case of issuance
Restrictions on changes to the capital structure
Financials of the Companies
As per the FY24 financial statements, Ganesha Ecosphere recorded a revenue of ₹9,753.40 crore and a net worth of ₹10,891.52 crore, while Race Eco Chain reported a revenue of ₹3,384.98 crore with a net worth of ₹222.87 crore.
As of February 1, 11:54 AM, Ganesha Ecosphere Ltd is trading at ₹1,690.00, up 3.30% (₹53.95) today, but has declined 14.05% over the past month, while gaining 9.53% in the last five days.
Meanwhile, Race Eco Chain Ltd is at ₹339.05 as of 11:56 AM, rising 2.60% (₹8.60) today, with a 10.34% drop over the past month but a 3.38% gain in the last five days.
Industry Context
India generates around 3.5 million tonnes of PET waste annually. The joint venture is expected to increase waste processing capacity and improve the supply of raw materials for recycled products.
The agreement is not a related party transaction, and neither company is part of the other’s promoter group. There are no conflicts of interest arising from the agreement.
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
WeWork India, backed by the Embassy Group, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company, which operates flexible workspaces across major Indian cities, is looking to raise funds through a public listing.
IPO Structure
The IPO will be entirely an offer-for-sale (OFS) of 4.37 crore equity shares. There will be no fresh issue component. Embassy Buildcon LLP, the promoter, will sell 3.34 crore shares, while investor 1 Ariel Way Tenant will offload 1.03 crore shares.
Since this is a pure OFS, the company will not receive any proceeds from the IPO. The funds will go directly to the selling shareholders after deducting applicable expenses and taxes.
Ownership and Business Overview
WeWork India is primarily owned by Embassy Buildcon LLP, which holds a 76.21% stake. The remaining 23.45% is owned by other public shareholders, including 1 Ariel Way Tenant. The Embassy Group, the real estate developer in India with over 85 million square feet of commercial space, is the company’s promoter.
WeWork India, headquartered in Bengaluru, has been operating since 2017 under an exclusive licensing agreement with the global WeWork brand. The company runs 59 centres across office markets, including Bengaluru, Mumbai, Pune, Hyderabad, Gurgaon, Noida, Delhi, and Chennai. Its total leasable area is 6.48 million square feet, with 94,440 desks.
Financials
For FY24, the company reported a loss of ₹135.8 crore, lower than the ₹146.8 crore loss in the previous year. Revenue increased by 26.7%, reaching ₹1,665.1 crore, up from ₹1,314.5 crore in FY23. In the first six months of FY25 (April-September 2024), WeWork India posted a profit of ₹174.6 crore on revenue of ₹918.2 crore.
Merchant Bankers and Competition
JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company, and 360 ONE WAM have been appointed as the book-running lead managers for the IPO.
WeWork India’s listed competitor in India is Awfis Space Solutions. Another managed workspace provider, IndiQube Spaces, filed IPO papers in December 2024 to raise ₹850 crore.
The company has stated that it does not plan to conduct a pre-IPO placement before the listing.
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 Securities and Exchange Board of India (SEBI) is working on an innovative financial product aimed at increasing financial inclusion across the country. SEBI’s Chairperson, Madhabi Puri Buch, recently shared details about a new initiative that will allow investors to pair mutual fund investments with life insurance.
This development, expected to expand access to financial products, particularly in rural areas, will offer an affordable combination of insurance and investment options to underserved communities. The regulator’s ongoing efforts are designed to address the needs of investors while leveraging technology to enhance trust in the financial system.
New Product Aimed at Expanding Financial Access
SEBI’s new product will give investors the option to link their mutual fund investments with life insurance, specifically a term life policy. This initiative aligns with the regulator’s goal of reaching more investors, especially in rural areas where Systematic Investment Plans (SIPs) remain underdeveloped, despite their vast potential. By introducing a low-cost, bundled offering, SEBI aims to provide an accessible solution that meets the financial needs of a broader demographic. The new product will also keep the marginal cost of the additional life insurance premium minimal, benefiting both investors and financial service providers.
Buch highlighted that SEBI’s efforts are targeted at growing the reach of mutual funds, particularly in areas where SIP investments are still low. She emphasised that the new combo product would address the demand for affordable insurance solutions alongside investment opportunities, which is a step towards financial inclusion for rural and underserved communities.
SEBI’s Focus on Trust and Security in the Digital Ecosystem
In addition to the combo product, SEBI is also focused on increasing trust in the financial ecosystem by leveraging technology. The regulator is planning to introduce the “Pay Right” initiative, which will allow investors to verify the authenticity of a UPI ID before making financial transactions. This initiative aims to combat digital fraud, ensuring that investors can confirm they are making payments to legitimate recipients.
The emphasis on digital assurance comes at a time when fraud in the digital space is becoming a growing concern. By integrating robust KYC (Know Your Customer) protocols, SEBI plans to help differentiate legitimate financial intermediaries from fraudulent entities, reinforcing investor confidence in the digital landscape.
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.
Despite the equity markets remaining operational on February 1, 2025, for the Union Budget presentation, mutual fund transactions will not be processed. Asset management companies (AMCs) have designated the day as a non-business day, meaning no sales or redemptions of mutual fund units will take place.
Mutual Fund Transactions Suspended
On Budget Day, all mutual funds will observe a non-business day, as per a notice issued by the Bombay Stock Exchange (BSE). While net asset values (NAVs) for mutual fund schemes will still be declared, investors will not be able to buy or redeem units at the day’s NAV. Instead, any requests for transactions made on February 1 will be processed at the closing NAV of Monday, February 3. The restriction applies across all schemes, and the BSE StAR MF platform will also observe a non-business day.
ETF Trading and Equity Market Operations
In contrast to mutual funds, exchange-traded funds (ETFs) will remain active on February 1. As stock markets are open, ETF units can be bought and sold at market prices, with their NAVs declared in alignment with benchmark indices. The National Stock Exchange (NSE) and the BSE have confirmed full trading sessions on Budget Day, maintaining the precedent set in previous years, such as on February 1, 2020, and February 28, 2015, when markets operated on Saturdays for the Budget presentation.
Conclusion
While equity markets will function as usual on February 1, mutual fund transactions will be restricted due to AMCs designating it as a non-business day. ETFs, however, will continue trading in line with stock market movements.
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.
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.
The Economic Survey 2025 has highlighted a significant rise in retail participation in mutual funds, particularly through Systematic Investment Plans (SIPs). With over 10 crore SIP accounts created and cumulative inflows reaching ₹10.9 lakh crore since inception, individual investors are playing an increasingly vital role in the Indian securities market.
Growth in SIP Contributions and Mutual Fund Holdings
The report reveals that monthly SIP contributions have more than doubled in the past three years, rising from ₹0.10 lakh crore in FY22 to ₹0.23 lakh crore in FY25. Retail investors collectively hold mutual fund units worth ₹18.6 lakh crore as of December 2024, reflecting strong confidence in this investment avenue.
Additionally, the number of mutual fund folios has grown to 22.5 crore, up from 17.8 crore at the end of FY24.
The mutual fund industry’s Assets Under Management (AUM) experienced a substantial rise, reaching ₹66.9 lakh crore in December 2024. This marks a 25.3% increase from March 2024. The survey attributes this growth to sustained SIP inflows, healthy market performance, and technological advancements that have facilitated easier access to investments.
Rising Mutual Fund Ownership in Listed Companies
The increasing participation of individual investors has reshaped the Indian financial market. Mutual fund ownership in listed Indian companies reached a record 9.5% by September 2024, up from 8.7% in FY24. Direct and indirect investments by individuals now account for 17.6% of ownership in NSE-listed companies, equalling the share held by Foreign Portfolio Investors (FPIs).
These developments indicate a transformation in the Indian securities market, with retail investors playing a more prominent role in wealth creation. The steady rise in SIP contributions and mutual fund ownership highlights the growing inclusivity and resilience of the market.
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.
The Economic Survey 2025 has highlighted a significant rise in retail participation in mutual funds, particularly through Systematic Investment Plans (SIPs). With over 10 crore SIP accounts created and cumulative inflows reaching ₹10.9 lakh crore since inception, individual investors are playing an increasingly vital role in the Indian securities market.
Growth in SIP Contributions and Mutual Fund Holdings
The report reveals that monthly SIP contributions have more than doubled in the past three years, rising from ₹0.10 lakh crore in FY22 to ₹0.23 lakh crore in FY25. Retail investors collectively hold mutual fund units worth ₹18.6 lakh crore as of December 2024, reflecting strong confidence in this investment avenue.
Additionally, the number of mutual fund folios has grown to 22.5 crore, up from 17.8 crore at the end of FY24.
The mutual fund industry’s Assets Under Management (AUM) experienced a substantial rise, reaching ₹66.9 lakh crore in December 2024. This marks a 25.3% increase from March 2024. The survey attributes this growth to sustained SIP inflows, healthy market performance, and technological advancements that have facilitated easier access to investments.
Rising Mutual Fund Ownership in Listed Companies
The increasing participation of individual investors has reshaped the Indian financial market. Mutual fund ownership in listed Indian companies reached a record 9.5% by September 2024, up from 8.7% in FY24. Direct and indirect investments by individuals now account for 17.6% of ownership in NSE-listed companies, equalling the share held by Foreign Portfolio Investors (FPIs).
These developments indicate a transformation in the Indian securities market, with retail investors playing a more prominent role in wealth creation. The steady rise in SIP contributions and mutual fund ownership highlights the growing inclusivity and resilience of the market.
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.
EFC (I) Ltd and Pepperfry Ltd have signed a Term Sheet for a joint venture to expand their presence in the furniture and logistics industries across India, combining their strengths to drive innovation and growth.
Strategic Partnership to Drive Innovation
The partnership aims to combine expertise in furniture manufacturing, logistics, and creative studios, delivering scalable solutions to meet growing demand across India and providing exceptional value to stakeholders.
Expansion Plans and Nationwide Reach
This collaboration will expand operations across India, leveraging Pepperfry’s marketplace and EFC (I)’s logistics to offer an integrated end-to-end service including display studios to enhance customer experience.
Leadership and Vision for Long-Term Growth
Umesh Kumar Sahay, Chairman and Managing Director of EFC (I), sees the partnership as a strong foundation for growth. By combining their respective strengths in logistics, franchising and business development, the companies plan to create a solid foundation that will foster sustained growth and bring new opportunities to the market.
Completion and Regulatory Approvals
The joint venture is expected to be finished by March 2025, once it gets the necessary approvals. It aims to create a strong partnership to shape the future of the furniture and logistics industry in India.
About EFC(I)
EFC (I) Ltd, founded in 2014 by Umesh Kumar Sahay, is a Pune-based company listed on the BSE. It manages over 56,000 seats across 70+ centres in nine cities and seven states. The company serves over 570 prestigious Indian and global corporates, offering high-quality working spaces. EFC (I) is known for its expertise in logistics, franchising and business development.
EFC (I) Share Performance
As of February 01, 2025, at 10:45 AM, With a market capitalisation of ₹26.16 billion crores, EFC(I)shares are trading at ₹527.20 per share, up 0.30% from yesterday’s closing price. Over the last month, the stock has fallen by 11.59%. The stock has a 52-week high and 52-week low of ₹716.95 per share and ₹303.10 per share respectively.
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.
Thomas Cook (India) Limited, a well-known travel company, has signed a two-year agreement with the Moscow Project Office for Tourism & Hospitality Development. The partnership seeks to enhance relations between India and Moscow by exchanging knowledge and offering distinctive travel experiences for Indian tourists.
Strategic Partnership
The MoU was signed by Rajeev Kale, a senior executive at Thomas Cook India and Evgeny Kozlov, a high-ranking official from the Moscow City Tourism Committee. The partnership aims to strengthen ties between India and Moscow by sharing knowledge and creating unique travel experiences for Indian tourists.
Focus Areas of the Collaboration
The partnership aims to boost tourism and business travel between India and Moscow. Thomas Cook and SOTC Travel will create new travel packages, train travel experts and promote Moscow as a popular destination. They will also run special marketing campaigns to attract more Indian tourists for both vacations and business trips.
Moscow as a Tourist Destination
Moscow’s mix of architecture, culture, art and food makes it a great destination for Indian tourists. Rajeev Kale highlighted that Indian travellers seek unique experiences and Moscow offers rich history, sightseeing and nightlife. The partnership will arrange trips to help Indian tourists explore Moscow’s attractions.
Statements from Key Leaders
Evgeny Kozlov is excited about the partnership, calling Thomas Cook India a key player in tourism. He said special presentations will showcase Moscow to Indian travellers, especially for business events. This collaboration will help increase tourism between both regions.
About the Moscow Project Office for Tourism, Hospitality Development
The Moscow City Tourism Committee is responsible for promoting Moscow as a top travel destination. In 2023, the city attracted over 2.3 million international tourists including many from India. The committee works on initiatives such as business meetings, tourism fairs and promotional events to attract foreign visitors.
Thomas Cook (India) Ltd Share Performance
As of February 1, 2025, at 10:10 AM, Thomas Cook shares are trading at ₹157.26, up 2.26% from yesterday. The stock has fallen 19.70% over the past month and has a 52-week range of ₹264 to ₹140.05.
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.
KP Green Engineering has announced new orders worth ₹111.80 crore from multiple clients in January 2025. These contracts span across various segments, including solar projects, pooling substations, solar rooftop installations, and transmission towers. The company aims to complete most of these orders by the end of the current financial year, March 31, 2025.
Major Solar Project Orders
A significant portion of the new contracts comprises solar-related projects, amounting to ₹59.60 crore. These include fixed tilt module mounting structures, tracker-type module mounting structures, and structure parts. This expansion in solar infrastructure highlights KP Green Engineering’s continued commitment to renewable energy solutions.
Additionally, the company has secured orders for pooling substations worth ₹36 crore. Pooling substations are critical in integrating renewable energy into the grid, enabling efficient power transmission from multiple solar installations to the main network.
Diverse Contracts Strengthening Market Position
Apart from solar projects, KP Green Engineering received orders for solar rooftop projects valued at ₹8.7 crore. These installations contribute to the decentralisation of energy production and promote sustainable power generation.
The company also secured contracts worth ₹7.5 crore for transmission towers, further enhancing its role in strengthening the power transmission infrastructure. These diverse projects underscore KP Green Engineering’s expanding market presence across multiple segments.
KP Green Share Performance
As of February 01, 2025, at 9:20 AM, shares of KP Green are trading at ₹509.65 per share, reflecting a surge of 4.20% from the previous day’s closing price. Over the past month, the stock has registered a decline of 8.06% and over the last year it has surged by 142.69%.
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.
January 23, 2025 09:33 AM
Stock Market Live: Stocks to Watch: HUL, BPCL, Coforge, Paras Defence in Focus
Key stocks in focus include HUL, which reported a profit of ₹3,001 crore and announced the demerger of Kwality Wall’s and a stake acquisition in Minimalist. BPCL’s profit surged to ₹4,640 crore, while Coforge posted a profit of ₹216 crore and declared a ₹19/share interim dividend. Pidilite Industries recorded a ₹552 crore profit, and Tata Communications saw a 424% YoY profit jump to ₹236 crore. Paras Defence signed an MoU to establish a ₹12,000 crore Optics Park in Maharashtra, creating 2,000 jobs by 2028.
January 23, 2025 11:06 AM
Share Market Live Updates: Zensar Hits 52-Week High
Zensar Technologies Limited announced its consolidated financial results for the third quarter ending December 31, 2024, for the financial year 2024-2025. The company reported a revenue of $157.0 million for Q3FY25, marking a year-on-year (YoY) growth of 8.6% in reported currency and 7.5% in constant currency.
On a sequential quarter-over-quarter (QoQ) basis, the growth was 0.5% in reported currency and 0.7% in constant currency. Gross Margin for the quarter stood at 30.1% of revenues, reflecting a 200 basis point improvement from the previous quarter.
January 23, 2025 11:20 AM
Share Market Live: Coforge Shares Jump 10%
Coforge Limited’s shares surged 10% to ₹9,051 on January 23, 2025, following its robust Q3 FY25 results and a ₹19 interim dividend announcement. The company reported a revenue of ₹3,318.2 crore, reflecting 40.3% YoY growth in constant currency terms and 42.8% YoY growth in INR terms. EBITDA rose 29.3% YoY to ₹519.0 crore, while adjusted PAT increased 10.3% YoY to ₹268.0 crore. The strong performance was driven by significant growth across sequential and year-on-year metrics.
January 23, 2025 11:32 AM
Share Market Live: Mazagon Dock Shipbuilders Stock Up 4%
Mazagon Dock Shipbuilders (NSE: MAZDOCK) share price traded 3.55% higher at ₹2,369 at 11:10 AM on the NSE. The stock opened at ₹2,275.85, higher than ₹2,287.75 at the previous close. The stock rose to a day’s high of ₹2,423 in the early trade before cooling off to a day’s low of ₹2,256.60. Despite yesterday’s loss the stock price continued to trade close to its 52-week high of ₹2,930 recorded on July 5, 2024.
The company also issued a clarification regarding the recent media reports on a contract with Jawaharlal Nehru Port Authority (JNPA) about an electric water taxi.
January 23, 2025 11:50 AM
Share Market Live Updates: India’s Renewable Energy Surge
India’s renewable energy sector is rapidly transforming, and 2024 marked an exceptional year in this transition. With a growing commitment to sustainability and green energy solutions, India continues to make waves in the global energy landscape. By 2030, the country aims to achieve 500 GW of non-fossil fuel-based energy capacity—a monumental goal that solidifies its position as a clean energy leader.
January 23, 2025 12:37 PM
Share Market Live: Markets Trade Volatile Amid Mixed Global Cues
On January 23, 2025, Indian benchmark indices Nifty50 and Sensex, witnessed volatility due to mixed global signals. The BSE Sensex fluctuated between gains and losses, trading at 76,553.34, up 148.35 points by noon, while the Nifty50 rose 0.24% to 23,210.20. Gains in UltraTech Cement, Tech Mahindra, Sun Pharma, and M&M supported the indices, though losses in HUL, HDFC Bank, SBI, Reliance Industries, and HCL Tech capped the upside.
Broader markets outperformed, with Nifty SmallCap and MidCap indices advancing 1.1% and 1.6%, respectively. Sectorally, Nifty IT led with a 2% rise, while Nifty PSU Bank declined 0.5%. Investors are closely monitoring Q3 results from major companies like UltraTech Cement and Dr Reddy’s.
January 23, 2025 12:56 PM
Share Market Live: Jupiter Wagons Shares Rise on Fundraising Plans
Jupiter Wagons share price saw a rise of 2.61% on January 23, 2025, reaching an intraday high of ₹485.75. By 12:31 PM, the stock was trading 1.50% higher at ₹480.45, while the BSE Sensex was up 0.38% at 76,696.88.
The company announced a board meeting scheduled for January 29, 2025, to discuss plans for raising funds through various methods. These may include issuing equity shares, convertible preference shares, bonds, debentures, warrants, or other equity-linked instruments. Potential fundraising modes include private placements, qualified institutional placements (QIPs), public issues, rights issues, or preferential allotments, subject to necessary approvals.
January 23, 2025 01:44 PM
Stock Market Live: Mid-Day Top Gainers and Losers
As of 12:05 PM on January 23, 2025, the BSE Sensex rose 0.23% to 76,569.05, while Nifty50 gained 0.28% to 23,219.90.
Among the top gainers, Wipro surged 3.8% to ₹320.85, Tech Mahindra rose 2.31% to ₹1,722.80, and Tata Consumer Products gained 2.13% to ₹988. UltraTech Cement and Mahindra & Mahindra also saw gains of 2.12% and 1.72%, respectively. On the downside, Hindustan Unilever dropped 1.37% to ₹2,310.95 despite strong Q3 profit growth, and BPCL fell 1.33% to ₹273.9 after a revenue decline. Dr. Reddy’s, HCL Technologies, and SBI also posted losses, down 1.18%, 1.01%, and 0.64%, respectively.
January 23, 2025 02:03 PM
Stock Market Live: Biocon Share Price Gains 3% on Fundraising Announcement
Biocon share price rose by 2.61% to ₹398 per share on January 23, 2025, following the company’s announcement that its board will consider raising funds through commercial papers (CPs) or other private placement methods. The board meeting is scheduled for January 27, 2025.
January 23, 2025 02:21 PM
Stock Market Live Updates: IREDA Approves ₹5,000 Crore Fundraising via QIP
On January 23, 2025, Indian Renewable Energy Development Agency (IREDA) announced that it will raise ₹5,000 crore through a Qualified Institutional Placement (QIP). The funds will be raised in 1 or more tranches. The company’s board approved this plan during its meeting.
January 23, 2025 03:04 PM
Stock Market Live: Markets Gain on Auto, IT, and Healthcare Stocks
On January 23, 2025, benchmark indices gained momentum with strong buying in auto, IT, and healthcare stocks. At 2:00 PM, the BSE Sensex rose by 250 points to 76,650, while the NSE Nifty 50 hovered near 23,250.
January 23, 2025 03:35 PM
Stock Market Live Updates: Adani Energy Solutions Q3 Profit Surges 80% to ₹625 Crore
Adani Energy Solutions reported an 80% increase in consolidated net profit to ₹625.30 crore for the December 2023 quarter, compared to ₹348.25 crore a year ago. The rise was supported by higher revenues, with total income climbing to ₹6,000.39 crore from ₹4,824.42 crore in the same period last year, as per its BSE filing.
January 23, 2025 03:59 PM
Stock Market Live: Sensex and Nifty Close Higher, Supported by Gains in Auto, IT, and Healthcare Stocks
On Thursday, January 23, 2025, after a shaky start, the benchmark equity indices showed positive movement, boosted by strong buying in auto, IT, cement, and some healthcare stocks.
The BSE Sensex dropped to a low of 76,202 early in the session but quickly recovered and rose to a high of 76,743, ending the day at 76,520, up by 115 points. The NSE Nifty 50 reached a high of 23,271 and a low of 23,091 before closing 50 points higher at 23,205.
January 23, 2025 04:34 PM
Stock Market Live: Ultratech Cement Leads Gains, BPCL Sees Losses on January 23, 2025
On January 23, 2025, the Indian stock markets closed higher, with Nifty 50 rising by 0.22% and Sensex gaining 0.15%. The Nifty Consumer Durables and Nifty IT sectors saw gains of 1.97% and 1.79%, respectively.
Ultratech Cement led the day’s top gainers with a 6.67% increase, followed by Grasim (2.96%), Wipro (2.78%), Shriram Finance (2.38%), and Sun Pharma (2.23%). On the losing side, BPCL saw a decline of 2.14%, followed by Kotak Mahindra Bank (-1.28%), HCLTech (-1.14%), Reliance (-0.96%), and SBI (-0.96%).
Greenlam Industries Ltd has taken significant corporate action by announcing a bonus issue in the ratio of 1:1. This means that for every 1 share held, shareholders will receive 1 additional free share at no extra cost.
As per the company’s exchange filing, the record date for the bonus issue is yet to be determined. This is the 1st ever bonus issue in the company’s history, despite its past corporate actions, including dividend payouts and a stock split from ₹5 to ₹1.
Share price of Greenlam Industries trading at ₹555 at 3:17 PM as of January 31, 2025.
Why Do Companies Issue Bonus Shares?
Bonus shares are issued primarily to capitalise free reserves and increase a company’s paid-up capital. This move also has implications for the company’s Earnings Per Share (EPS) and helps in reducing accumulated reserves. Since these shares are distributed at no additional cost to shareholders, they are often referred to as free shares.
Greenlam Industries’ Q3FY25 Financial Performance
Alongside the bonus announcement, the company also released its financial results for the Q3 quarter ended December 31, 2024.
Revenue from operations: Grew 6.9% YoY to ₹602 crore, compared to ₹563 crore in Q3FY24.
Segment-wise performance:
Laminates: Value growth of 4% and volume growth of 2.6% YoY.
Engineered Flooring: Grew by 13.8%.
Engineered Doors: Reported a massive 49.5% growth.
Plywood: Surged by 90.7%.
Gross margins: Increased 20 basis points, reaching 55.0% compared to 54.8% in Q3FY24.
Net profit: Declined to ₹12.5 crore from ₹25 crore in the previous year’s corresponding quarter.
Increase in Authorised Share Capital
In another development, Greenlam Industries has approved an increase in its authorised share capital. The company’s authorised capital will rise from ₹19 crore (19 crore equity shares of ₹1 each) to ₹30 crore (30 crore equity shares of ₹1 each).
What’s Next for Shareholders?
With the bonus issue marking a significant milestone in the company’s journey, investors are now awaiting the announcement of the record date. The move not only rewards existing shareholders but also enhances liquidity in the stock market.
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.
