Sellwin Share Price Jumps 4% Amid Strategic MoU Announcement

On January 23, 2025, Sellwin Traders Ltd’s share price surged by 4% following the announcement of a significant strategic move. The Kolkata-based company has entered into a Memorandum of Understanding (MOU) with Mumbai-based Subhshri Overseas Ltd, a prominent ₹250 crore group, aiming to establish a holding-subsidiary relationship.

Details of the MoU

The collaboration involves a share swap arrangement, wherein Sellwin Traders will become the holding company, and Subhshri Overseas Ltd will operate as its subsidiary. A third-party valuation expert will determine the share swap ratio based on business prospects. This non-binding agreement also ensures confidentiality and good-faith negotiations.

Key highlights of the arrangement:

  1. Ownership Structure: Sellwin Traders will acquire a percentage of shares in Subhshri Overseas Ltd, meeting the requirements of the Companies Act.
  2. Board Representation:
    • The holding company will appoint at least one director to the subsidiary’s board.
    • The subsidiary company will nominate two directors to the holding company’s board, one regular and one independent.
  3. Operational Independence: Subhshri Overseas Ltd will retain operational control, maintaining autonomy in daily activities.

About Subhshri Overseas Ltd

Subhshri Overseas Ltd, founded in 1971 and part of the M S Group, specialises in exporting products like readymade garments, textiles, and food items to markets in the Middle East, Africa, and Europe. The group, with an annual turnover of ₹250 crore, has earned accolades, including a government award for excellence in exports.

Financial Highlights of Sellwin Traders

Sellwin Traders Ltd has demonstrated robust financial performance in FY25:

  • Nine-Month Revenue: ₹49.67 crore, a 103% increase compared to ₹24.43 crore in the same period last year.
  • Nine-Month Net Profit: ₹2.26 crore, up from ₹57 lakh last year.
  • Q3FY25 Revenue: ₹17.41 crore, reflecting 90% growth.
  • Q3FY25 Net Profit: ₹75.75 lakh, a staggering 257% increase.

Strategic Implications

The MOU positions Sellwin Traders to benefit from Subhshri Overseas Ltd’s expertise in international markets, particularly its stronghold in the textile and apparel export sector. This strategic alliance could potentially open new avenues for revenue and operational synergies.

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.

Gold and Silver Prices on January 23: Check Rates in Your City

The yellow metal, gold, after climbing to a multi-week high, witnessed profit booking on Thursday, January 23, 2025. Recently, gold prices surged due to uncertainty surrounding U.S. President Donald Trump’s trade policies.

U.S. President Donald Trump vowed to impose tariffs on the European Union and mentioned his administration was discussing a 10% punitive duty on Chinese imports. This decision was linked to allegations that fentanyl was being sent from China to the U.S. via Mexico and Canada.

In the international market, spot gold prices were trading lower by 0.20%, at $2,753.18 per ounce, as of 1:00 PM on January 23, 2025.

In India, gold prices saw a marginal decline across major metro cities. In Mumbai, 24-carat gold is priced at ₹7,974 per gram, while 22-carat gold costs ₹7,310 per gram. The 24-carat gold price stands at ₹79,740 per 10 grams, down by ₹60 as of 1:00 PM.

In Delhi, 22-carat gold is currently priced at ₹72,994 per 10 grams, and 24-carat gold is trading lower by ₹30 at ₹79,630 per 10 grams.

Gold Prices Across Major Indian Cities on January 23, 2025

Here is a detailed breakdown of gold prices as of January 23, 2025:

City 24 Carat Gold (per 10gm in ₹) 22 Carat Gold (per 10gm in ₹)
Chennai 80,000 73,333
Hyderabad 79,890 73,233
Delhi 79,630 72,994
Mumbai 79,740 73,095
Bangalore 79,830 73,178

Silver Prices in India on January 23, 2025

Spot silver prices were trading lower by 0.71%, at $30.65 per ounce during the afternoon session on January 23, 2025.

Silver Prices Across Major Indian Cities

City Silver Rate in ₹/KG 
Mumbai 91,560
Delhi 91,470
Kolkata 91,410
Chennai 91,800

Key Takeaways

  • Gold Prices: Both 22-carat and 24-carat gold witnessed profit booking across major Indian cities.
  • Silver Prices: Spot silver prices corrected, trading lower during the afternoon session on January 23, 2025.

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.

Housing Sales Decline in Major 9 Cities: Hyderabad and Chennai Face Double-Digit Dip

The Indian housing market experienced a notable decline in both sales and new supply during 2024. Sales of residential properties across nine major cities fell by 9% to 4,70,899 units compared to 5,14,820 units in 2023. New supply also dropped by 15% to 4,11,022 units due to subdued activity during the general elections and the monsoon season.

Despite these declines, the fundamentals of the real estate sector remain healthy, as the supply-to-absorption ratio in 2024 matches that of 2023. This suggests a balanced demand and supply scenario, reinforcing the sector’s long-term stability.

City-Wise Analysis of Housing Sales

  1. Bengaluru
    Housing sales in Bengaluru dropped by 9% to 60,506 units from 66,600 units in 2023.
  2. Chennai
    Chennai witnessed an 11% decline, with sales falling to 19,212 units from 21,515 units.
  3. Hyderabad
    Hyderabad experienced the steepest decline of 25%, with sales reducing to 61,722 units from 82,350 units.
  4. Kolkata
    Kolkata’s housing sales remained relatively stable, falling marginally by 1% to 18,595 units from 18,697 units.
  5. Mumbai
    Mumbai saw a 6% drop in sales, with 50,140 units sold compared to 53,208 units the previous year.
  6. Navi Mumbai
    In contrast, Navi Mumbai recorded a significant 16% growth, with sales rising to 33,870 units from 29,085 units.
  7. Pune
    Pune witnessed a decline of 13%, with sales falling to 92,643 units from 1,06,351 units.
  8. Thane
    Housing sales in Thane fell by 5%, registering 90,288 units compared to 95,336 units.
  9. Delhi-NCR
    Delhi-NCR emerged as a positive outlier, recording a 5% increase in sales to 43,923 units from 41,678 units in 2023.

Factors Contributing to the Decline

The decline in housing sales and new supply during 2024 can be attributed to:

  • High Base Effect: The real estate market peaked in 2023, making 2024 numbers appear comparatively lower.
  • Election and Monsoon Impact: Two quarters of subdued activity during the general elections and monsoon season slowed down market dynamics.

Key Insights from the Data

  • Resilient Fundamentals: The stable supply-to-absorption ratio indicates that the sector is not facing an oversupply situation and remains balanced.
  • Regional Variations: While cities like Navi Mumbai and Delhi-NCR showed positive growth, Hyderabad and Pune saw significant declines, indicating regional differences in market performance.

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.

₹3.05 Lakh Crore: Reliance Industries Signs Landmark MoU with Maharashtra

Reliance Industries Limited (RIL), India’s largest conglomerate, has signed a Memorandum of Understanding (MoU) with the Maharashtra government to invest ₹3.05 lakh crore across multiple sectors. The investment, which spans new energy, retail, hospitality, and high-tech manufacturing, is expected to generate 3 lakh employment opportunities in the state.

The agreement was formalised during the World Economic Forum (WEF) in Davos, showcasing Maharashtra’s commitment to fostering economic growth through strategic collaborations with industry leaders.

A Visionary Commitment to India’s Growth

Speaking on the occasion, Anant Ambani, Director of Reliance Industries, emphasised the group’s dedication to the vision of a New India. He highlighted that the investment aligns with Prime Minister Narendra Modi’s goal of transforming India into a $5 trillion economy.

According to Anant Ambani: “As the largest business group in India, we are spread across the country, furthering our commitment to build a great nation. This ₹3.05 lakh crore MoU across new energy, retail, hospitality, green power, and high-tech manufacturing is a step in that direction.”

The investment also reflects Reliance’s long-standing partnership with Maharashtra, with Anant Ambani praising the state’s leadership under Chief Minister Devendra Fadnavis for its vision and planning.

Maharashtra’s $1 Trillion Economy Vision

Chief Minister Devendra Fadnavis expressed his gratitude towards Reliance Industries for its substantial commitment, calling the MoU a “groundbreaking moment” for Maharashtra. He highlighted that this collaboration plays a significant role in the state’s ambition to become a $1 trillion economy.

The Chief Minister remarked: “Maharashtra is the gateway to India’s $5 trillion economy target. With this partnership and several others at the World Economic Forum, the state is poised for unprecedented growth.”

Notably, the Maharashtra government has been proactive at the WEF in Davos, signing over 50 MoUs with prominent corporations, including Tata Group, Ceat, Essar Renewables, Bharat Forge, Welspun Corp, and Olectra Greentech.

Key Sectors of Investment

  1. New Energy: Reliance’s focus on renewable and green power is expected to support India’s energy transition and contribute to sustainable development.
  2. Retail: Expansion in this sector will bolster Maharashtra’s consumer market and create new business opportunities.
  3. Hospitality: Investments in hospitality will likely enhance the state’s tourism and infrastructure offerings.
  4. High-Tech Manufacturing: Maharashtra’s skilled workforce will benefit from advanced manufacturing opportunities, further strengthening the state’s industrial base.

A Milestone for Maharashtra and India

This MoU underscores Maharashtra’s position as a hub for economic growth and innovation. The state’s proactive engagement at the WEF highlights its commitment to attracting investments that align with India’s developmental goals.

Reliance Industries’ ₹3.05 lakh crore investment is not only a testament to the group’s confidence in Maharashtra’s potential but also a significant step towards achieving India’s long-term economic aspirations.

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.

Strides Pharma Share Gains as OneSource Listing Date Announced

Strides Pharma shares rose by nearly 8% to ₹622,  today, January 23, ahead of the trading debut of its subsidiary, OneSource Specialty Pharma Limited, on the NSE and BSE. The company announced that OneSource would start trading on January 24, 2025, after receiving final listing and trading approvals on January 22, 2025.

Share Allotment and Record Date

As part of the split, shareholders of Strides Pharma were allotted one fully paid equity share of ₹1 in OneSource for every two equity shares of ₹10 they held. The record date for this allotment was December 6, 2024, and the final allocation was completed on December 10, 2024. Fractional entitlements were consolidated, with proceeds from their sale to be distributed to shareholders.

Approval and Creation of OneSource

The National Company Law Tribunal (NCLT) approved the formation of OneSource in November 2024. The new entity consolidated Strides Pharma’s soft gel, biopharma (previously Stelis), and injectables businesses under a single umbrella. OneSource positions itself as the country’s first speciality pharma contract development and manufacturing organisation (CDMO).

Financial Performance

In FY24, OneSource recorded revenue of $21.5 million, marking an increase compared to FY23. The company also reported positive EBITDA for the first time in the last quarter of FY24. For FY25, OneSource has projected revenues between $160-$180 million with EBITDA margins of 34%.

Operational Updates

OneSource operates 5 facilities and employs 1,200 people. The company delivered its third consecutive EBITDA positive quarter in Q2FY25 and reported a rise in project requests after the Biosecure Act, of 2024, in the US. It is targeting an exit EBITDA of over $20 million by Q4FY25.

OneSource’s trading codes are ONESOURCE on NSE and 544292 on BSE. This marks the completion of Strides Pharma’s plans to work on shareholder value through the split.

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.

Davos 2025: AWS to Invest $8.3 Billion in Maharashtra to Boost Cloud Infrastructure

Amazon Web Services (AWS) has announced a major $8.3 billion investment to expand its cloud infrastructure in Maharashtra under the AWS Asia-Pacific (Mumbai) Region. This is expected to boost India’s digital economy and create thousands of jobs in the state.

$15.3 Billion Contribution to GDP by 2030

AWS estimates that this investment will contribute $15.3 billion to India’s GDP by 2030. It’s also expected to support over 81,300 full-time jobs every year within Maharashtra’s data centre supply chain. The plan is part of AWS’s broader $12.7 billion commitment to cloud infrastructure in India, announced in 2023.

Formalised at Davos

At the World Economic Forum in Davos, the Maharashtra government signed a memorandum of understanding (MoU) with AWS to formalise this collaboration. Chief Minister Devendra Fadnavis called it an important moment for the state, noting that AWS’s decision to expand in the Mumbai Metropolitan Region underlines Maharashtra’s importance.

AWS’s Existing Presence in Maharashtra

AWS has been investing in Maharashtra for several years. Between 2016 and 2022, the company poured $3.7 billion into its cloud infrastructure in the state. The AWS Asia-Pacific (Mumbai) Region was the company’s first cloud infrastructure region in India, launched in 2016, followed by the Hyderabad Region in 2022.

Cloud Services Powering Indian Businesses

AWS works with a range of Indian enterprises, startups, and public sector organisations. Major clients include Axis Bank, HDFC Bank, ICICI Lombard, and Coal India. Startups like Healthify and Fibe also rely on AWS for their operations.

Digital Growth

AWS’s investment shows its confidence in India’s digital growth, with increasing demand for cloud and AI technologies driving this expansion. The focus is on making technology accessible to businesses of all sizes while supporting local jobs and economic growth in Maharashtra.

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.

Coforge Share Price Jumps Over 11% After Strategic Acquisition Announcement

On January 23, 2025, Coforge Limited witnessed a significant jump in its share price, rising over 11% as of 11:00 AM. The surge follows the announcement of a strategic acquisition, drawing attention from investors and analysts alike.

Details of the Acquisition

Coforge Inc., a wholly owned subsidiary of Coforge Limited, has signed a Stock Purchase Agreement to acquire 100% equity in Xceltrait Inc. The deal, valued at approximately $17.85 million, includes an upfront payment of $7 million and an earnout of up to $10.85 million, contingent on Xceltrait meeting specific revenue and EBITDA targets in FY26 and FY27. The acquisition is expected to close by February 28, 2025, subject to agreed conditions.

Who is Xceltrait Inc.?

Xceltrait Inc., incorporated in the United States in 2006, specialises in implementing ServiceNow’s Financial Services Operations (FSO) and Customer Service Management (CSM) modules. With a robust presence in the Property and Casualty (P&C) insurance industry, Xceltrait generated a turnover of $5.82 million in 2023. The acquisition positions Coforge to leverage these specialised capabilities across its global accounts.

Strategic Rationale for the Acquisition

The move aligns with Coforge’s goal of enhancing its expertise in niche areas such as FSO and CSM modules. Xceltrait’s strong foothold in the IT/ITeS industry and its deep domain expertise in P&C insurance are expected to complement Coforge’s service portfolio, creating synergies that could drive growth in the medium term.

Share Price Reaction

The market responded positively to this strategic announcement. Coforge’s stock experienced robust trading volumes, with significant investor interest driving the share price upwards. 

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.

eSankhyiki Surpasses 100 Million Records Milestone: A Game-Changer in India’s Data Landscape

India’s Ministry of Statistics and Programme Implementation (MoSPI) has announced a remarkable achievement for eSankhyiki, the country’s premier platform for statistical data dissemination. Within just 7-month of its launch in June 2024, the platform has surpassed 134 million records, highlighting India’s dedication to leveraging data for governance and policymaking.

A Revolutionary Platform for Data Accessibility

eSankhyiki, developed with open-source tools and in-house expertise, provides a comprehensive repository of time-series data across critical domains. These include:

  • National Accounts Statistics (NAS)
  • Price Statistics
  • NSS Surveys
  • Economic Census
  • Index of Industrial Production (IIP)

The platform is designed for accessibility and ease of use. It features user-friendly dashboards that allow users to filter, visualise, and export data in various formats. The integration of APIs supports the principle of data as a public good, empowering a wide array of stakeholders including researchers, policymakers, businesses, and citizens.

A Global Commitment to Excellence

This milestone strengthens India’s global leadership in data-driven governance and its adherence to international standards in statistical practices. As a member of the United Nations Statistical Commission (UNSC), India reinforces its commitment to:

  • Promoting data-driven governance.
  • Enhancing transparency and accessibility through open data.
  • Supporting sustainable development through evidence-based policymaking.

Future Enhancements on the Horizon

To maintain this momentum, MoSPI plans to introduce several innovative features to eSankhyiki, including:

  • AI-powered search capabilities for faster and more accurate data retrieval.
  • Personalised dashboards tailored to user needs.
  • Interactive infographics to simplify data interpretation.
  • Expansion of the repository to include new datasets.

These upgrades aim to enhance the platform’s usability and further its role in driving informed decision-making across sectors.

A Catalyst for Data-Driven Governance

eSankhyiki’s success underscores the Ministry’s commitment to making data accessible and valuable for public use and decision-makers alike. By surpassing the 100 million record milestone, the platform exemplifies India’s dedication to data democratisation and its role as a global leader in statistical excellence.

As MoSPI looks ahead, eSankhyiki is set to remain at the forefront of advancing global data dissemination practices, ensuring credible statistics serve as the foundation for governance and international collaboration.

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.

Waaree Energies Commences 1.6 GW Solar Module Production in Texas

Founded in 1990, Waaree Energies Limited (WEL) has cemented its position as one of India’s largest solar PV module manufacturers. With an impressive installed capacity of 13.3 GW and a global footprint, the company has been pivotal in advancing sustainable energy solutions. Since 2007, WEL has focused on manufacturing solar PV modules, aiming to deliver high-quality, cost-effective renewable energy to markets worldwide. Its efforts contribute significantly to reducing carbon footprints and improving lives by promoting clean energy adoption.

Share Price Turbulence Following Anchor Lock-in Expiry

On January 22, 2025, Waaree Energies experienced a sharp share price decline of over 9%, marking its steepest single-day fall in two months. This drop coincided with the conclusion of the second lock-in period for anchor investors, leading to a significant surge in trading volumes.

Ahead of its October 2024 IPO, the company had allotted 84.96 lakh shares at ₹1,503 per share to 92 anchor investors. These shares were subject to a phased lock-in period: 50% for 30 days and the remaining 50% for 90 days from the date of allotment. The end of these restrictions often results in heightened market activity as investors exercise their options to sell.

A Glimpse of Recovery Amid New Beginnings

Despite the turbulence, Waaree Energies showed resilience on January 23, 2025, as its wholly owned subsidiary, Waaree Solar Americas Inc., began commercial production of a new 1.6 GW solar module line at its facility in Brookshire, Texas, USA. This significant milestone reflects the company’s commitment to expanding its international presence and addressing the growing demand for renewable energy solutions.

By mid-morning trading on January 23, 2025, the company’s stock displayed a marginal recovery, up 0.20%. This demonstrates a cautious yet positive investor sentiment as the market digests the news of Waaree’s operational expansion in the United States.

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.

MahaRERA’s Bold Step: Freezing Over 1,950 Real Estate Project Accounts to Safeguard Home-Buyers

In a landmark move to protect home-buyers interests, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken stringent action against developers of over 1,950 stalled real estate projects. The authority has frozen their bank accounts and suspended project registrations, marking a significant step towards enforcing compliance and accountability within the real estate sector. This action aligns with the Real Estate (Regulation and Development) Act, 2016 (RERA), ensuring greater transparency for buyers.

What Led to This Crackdown?

The enforcement drive, which began in December 2024, saw MahaRERA issuing show-cause notices to approximately 10,771 projects. Developers were mandated to comply with statutory requirements, including providing regular updates on their projects. A critical aspect of this compliance involves submitting Form 4, a document indicating project completion, along with the occupancy certificate (OC).

  • Non-Compliance Statistics:
    • Over 10,773 projects were deemed “lapsed” due to missing Form 4 or OC submissions.
    • Developers of 5,324 projects responded, with 3,517 submitting OCs and 524 requesting extensions.
    • Suspensions have been issued for 1,950 projects, with action pending for an additional 3,499.

The Freeze and Its Implications

MahaRERA’s decision to freeze accounts ensures that funds earmarked for project completion are not misused. This step is part of a broader initiative to hold developers accountable and expedite project timelines.

  • Mandatory Banking Reforms:
    Since July 2024, MahaRERA mandated developers to open three RERA-specific accounts:

    1. Master Account: To receive home-buyer collections.
    2. 70% Account: Allocated for land and construction costs.
    3. 30% Account: For other project-related transactions.

These measures aim to streamline fund usage and enhance financial transparency.

Impact on Developers and Home-Buyers

The enforcement actions have received mixed reactions.

  • For Developers:
    Developers failing to comply face suspensions, further delays, and stricter penalties. Those adhering to the rules may find renewed trust among home-buyers.
  • For Home-Buyers:
    Buyers, often left in limbo due to stalled projects, have welcomed MahaRERA’s decisive action. This intervention is expected to expedite project completion and alleviate long-standing uncertainty.

Stronger Transparency Measures Ahead

MahaRERA is exploring additional steps to reinforce transparency in the real estate sector:

  • Stricter Penalties: For repeated non-compliance.
  • Mandatory Updates: Quarterly and annual progress reports from developers.
  • Enhanced Monitoring: Ensuring adherence to RERA norms to protect buyers’ interests.

Conclusion

MahaRERA’s freeze on 1,950 real estate project accounts is a decisive move to enforce compliance and safeguard home buyers. With additional action likely against 3,499 more projects, this initiative highlights the authority’s commitment to transparency and accountability in the sector. By aligning its measures with RERA, MahaRERA aims to restore trust in real estate, benefiting both buyers and developers in the long term.

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.