SPARSH: Defence Pension Disbursement for Over 31 Lakh Pensioners

The System for Pension Administration (Raksha), popularly known as SPARSH, is a flagship initiative under Digital India, launched in October 2020. It was conceptualised to overhaul the cumbersome, multi-agency defence pension disbursement system and replace it with a centralised, transparent, and efficient platform.

As of now, approximately 31 lakh of the total 32 lakh defence pensioners have been successfully onboarded to SPARSH, marking a significant milestone in digitising and streamlining pension delivery for ex-servicemen and defence civilians across the country.

Why SPARSH Was Needed

Under the previous Legacy System, the pension sanctioning and disbursement process was managed by three different agencies and over 45,000 public interfaces, including banks, post offices, state treasuries and even the Indian Embassy in Nepal.

This decentralised approach had several shortcomings:

  • Delayed and incorrect pension disbursement
  • Lack of transparency and visibility for pensioners
  • Widows often receive only minimum fixed pensions
  • Grievances largely unattended due to lack of technical knowledge and coordination

The fragmentation not only led to inefficiencies but also caused emotional and financial distress, particularly among vulnerable pensioners such as widows and elderly dependents.

SPARSH: A Unified and Transparent System

SPARSH brings both the sanctioning and disbursement of pensions onto a single digital platform. It ensures direct credit of pensions into the pensioners’ bank accounts, eliminating intermediaries and thereby reducing errors and delays.

Key features include:

  • Real-time access to personal and pension details
  • A grievance redressal mechanism
  • Online facilities for data correction and status tracking
  • Transparency in eligibility and revision process

Pensioners can now identify data mismatches—be it in Aadhaar, PAN, name, family details, or mobile number—and request corrections seamlessly.

Proactive Outreach for Pensioners

Recognising that many veterans live in remote areas and are not tech-savvy, the Defence Accounts Department (DAD) has launched various outreach initiatives to support the transition and ongoing use of SPARSH.

Raksha Pension Samadhan Ayojans (RPSAs)

Seven such events were organised across the country between January and December 2024 to address the concerns of veterans, especially in digitally inaccessible regions.

SPARSH Outreach Programmes

Over 90 outreach programmes were conducted by DAD during the same period, with representatives actively participating in Ex-Servicemen (ESM) Rallies and Veteran Meets organised by the Armed Forces.

SPARSH Helpline

A toll-free number (1800-180-5325) has been set up by the Principal Controller of Defence Accounts (Pensions), with trained staff having answered over 50 lakh calls since 2014.

Infrastructure and Last-Mile Support

To ensure no pensioner is left behind, an extensive support network has been put in place:

  • 201 Defence Accounts Department offices

  • Branches of 16 banks, including India Post Payments Bank (IPPB)

  • Over 4.63 lakh Common Services Centres (CSCs)

These centres assist pensioners with tasks such as identification, grievance registration, casualty reporting, IT declarations, and resolving technical queries.

Tackling Data Quality Challenges

While migrating pensioners from the Legacy System to SPARSH, several inconsistencies in personal and pension data were discovered. These discrepancies stem from poor data maintenance by the previous Pension Disbursing Authorities (PDAs).

To address this, DAD is not only responding to grievances but also proactively updating data to ensure accurate and uninterrupted pension flow. This proactive data reconciliation process is being executed on a war footing.

Conclusion

SPARSH represents a significant leap in delivering timely, transparent, and accountable pension services to India’s defence community. By empowering pensioners with access to information and a clear grievance mechanism, the initiative is setting new benchmarks in public service delivery.

While challenges in data quality and outreach remain, the robust infrastructure and continuous engagement efforts suggest a promising future for a more inclusive and efficient pension system in India.

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.

From Frenzy to Fall: NSE Index Options Premium Plunge 43% from Peak

The index options premium on the National Stock Exchange (NSE) has witnessed a substantial dip, falling by 29% over the last 5months to ₹44,427 crore as of March. This marks a 43% decline from the peak of ₹78,227 crore recorded in June 2023. The overall equity options premium also showed a downward trend, registering a 16% fall to ₹51,024 crore during the same period.

This shift reflects changing dynamics in the index derivatives space, possibly influenced by regulatory actions designed to address excessive speculation and market volatility.

Understanding Options Premium and Risk Exposure

In options trading, the premium paid by the buyer is the maximum potential loss they can incur if the trade goes against them. For the writer or seller of the index option, the premium received is the maximum profit that can be realised from the contract.

However, the risks are asymmetrical. While buyers have capped losses, the loss potential for writers, particularly those selling uncovered options, is generally considered unlimited. This imbalance underscores the need for robust risk management frameworks, especially in a segment that attracts significant retail participation.

Regulatory Measures to Rein in Frenzied Derivatives Activity

To address concerns over the growing intensity and risks in the index derivatives market, the market regulator introduced six key measures in November 2023. Of these, five have already been implemented. These include:

  • Increased Contract Size: The notional value of index derivative contracts has been raised to ₹15–20 lakh from the previous ₹5–10 lakh.

  • Weekly Expiry Restrictions: Each exchange is now permitted to host only one weekly expiry, reducing the proliferation of contracts.

  • Upfront Premium Collection: Premiums are now collected upfront from buyers, promoting more prudent trading behaviour.

These changes were put forth by a SEBI-appointed expert working group and reviewed by the Secondary Market Advisory Committee (SMAC).

Data Highlights the Scale of Retail Losses

SEBI’s recent study adds further context to the regulatory crackdown. Between FY22 and FY24, aggregate losses among individual traders in the F&O segment amounted to over ₹1.8 lakh crore. A striking 93% of the more than one crore individual traders reported average losses of approximately ₹2 lakh per person, inclusive of transaction costs.

These statistics point to widespread challenges among retail participants, who often engage in complex strategies without adequate risk understanding or capital protection mechanisms.

Conclusion

The reduction in index options premiums and the decline in overall equity options activity appear to be early signals of a changing landscape in derivatives trading. While the long-term effects of the regulatory interventions are yet to unfold fully, the initial data suggests a cooling-off period in a market segment that has seen rapid growth and increasing retail participation.

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.

From Stricter NFO Deadlines to DigiLocker: What’s Changing in Mutual Funds from April 2025

Starting April 1, 2025, the Securities and Exchange Board of India (SEBI) mandates that asset management companies (AMCs) must deploy funds raised via New Fund Offers (NFOs) within 30 business days from the date of unit allotment.

Should an AMC face challenges in deployment, it may seek a one-time extension of another 30 business days, subject to approval from the Investment Committee. However, failure to deploy funds within 60 business days will trigger a set of investor protection measures, including:

  • A halt on fresh inflows into the scheme
  • Exit options for investors without incurring penalties
  • Mandatory notification to all unit holders 

This move is aimed at improving operational discipline and ensuring that investor capital is promptly allocated.

Commission Cap to Prevent Mis-Selling

In a step to curb the mis-selling of schemes for the sake of higher commissions, SEBI has introduced new commission norms for distributors. When investors switch from an existing mutual fund scheme to a new NFO, the distributor will receive the lower of the 2 commissions—either the existing scheme’s or the NFO’s.

This measure is expected to disincentivise the promotion of NFOs based solely on higher commission structures and ensure that recommendations are made in the investor’s best interest.

Introduction of Specialised Investment Funds (SIFs)

One of the key developments under the new regulations is the launch of Specialised Investment Funds (SIFs)—a product category that bridges the gap between traditional mutual funds and portfolio management services (PMS).

Only AMCs that have:

  • A minimum of ₹10,000 crore in assets under management (AUM)
  • At least 3 years of operational history 

will be eligible to launch SIFs.

These funds offer flexible investment mandates and may invest in equity, debt, or hybrid strategies, including long-short approaches. A minimum investment of ₹10 lakh is required from each investor, positioning SIFs as a more structured alternative for experienced or high-net-worth individuals.

DigiLocker Integration for Seamless Investment Tracking

From April 1, 2025, investors will be able to store and access their Demat account statements and mutual fund holdings through DigiLocker.

This integration is designed to:

  • Simplify access to investment records
  • Reduce the occurrence of unclaimed financial assets
  • Facilitate easier document retrieval by nominees 

By digitising access, SEBI aims to enhance transparency and streamline portfolio tracking for investors across platforms.

Broader Implications for Investors

These regulatory changes reflect SEBI’s broader intent to:

  • Encourage timely fund utilisation
  • Minimise scope for commission-driven mis-selling
  • Provide structured and flexible investment options
  • Improve the digital accessibility of financial documents

Conclusion

While these measures are expected to add an extra layer of protection for investors, they also mark a step forward in the evolution of India’s mutual fund ecosystem.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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

ITC Share Price Gains: Acquires Century Pulp & Paper for ₹3,500 Crore

ITC Limited announced a significant strategic move by signing a Business Transfer Agreement (BTA) with Aditya Birla Real Estate Limited (ABREL) to acquire its pulp and paper business, popularly known as Century Pulp and Paper (CPP). The deal, valued at up to ₹3,500 crore on a cash-free, debt-free basis, is expected to be completed within 6 months, subject to regulatory approvals.

As of 10:06 AM on April 1, 2025, ITC’s share price was up by 0.90%, trading at ₹413.30 on the NSE.

Overview of Century Pulp and Paper (CPP)

Established in 1984 at Lalkuan, Uttarakhand, CPP is a prominent player in the Indian paper industry with an installed capacity of 4.8 lakh MT per annum. It has a robust in-house pulp manufacturing setup and strong fibre sourcing capabilities. Over the past 5 years (excluding the pandemic-hit FY21), it has averaged ₹2,958 crore in revenue and ₹506 crore in EBITDA.

Why This Acquisition Matters for ITC

ITC’s Paperboards and Specialty Papers Business is already a reputed name in the sector, with four world-class manufacturing units and a throughput exceeding 1 million MT annually. However, with capacity expansion at current locations constrained, this acquisition offers several advantages:

  • Immediate Scale: The CPP facility will add significant capacity and operational scale without the lead time required for a greenfield project.

  • Locational Advantage: With a strong presence in North India, CPP complements ITC’s existing Southern facilities, improving supply chain efficiencies and customer servicing.

  • Operational Synergies: ITC aims to unlock value through initiatives like product mix optimisation, capacity debottlenecking, digitalisation, and Total Productive Maintenance (TPM).

  • De-risking Operations: Multi-site operations improve business resilience and reduce operational risks.

A Move Aligned with Industry Growth

India, the 5th largest producer of paper globally, sees annual demand growth of 6-7%, with over 1 million MT of incremental demand each year. Per capita consumption stands at just 16 kg, much lower than the global average of 57 kg—signalling ample headroom for growth. This acquisition positions ITC well to cater to rising demand across FMCG, QSR, pharma, e-commerce, education, and sustainable packaging sectors.

Financial and Strategic Highlights

  • Deal Value: Up to ₹3,500 crore

  • Mode: Slump sale on a cash-free, debt-free basis

  • Expected Completion: Within six months

  • EPS Impact: Expected to be accretive in the first full year of operations

  • Profitability Target: 30–40% increase in EBITDA/tonne over normalised levels within two years

The acquisition aligns with ITC’s capital allocation strategy and aims to sustain strong free cash flow generation, which exceeded ₹4,000 crore between FY20 and FY24 for the Paperboards, Paper & Packaging segment.

Conclusion 

With CPP’s integration, ITC is expected to enhance operational capabilities, pursue growth opportunities across key industries, and maintain its commitment to sustainability and value creation.

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.

Vodafone Idea Share Price Hits Upper Circuit; Here’s Why

Vodafone Idea Limited informed the stock exchanges about a major development under Regulation 30 of SEBI Listing Regulations. The Ministry of Communications, Government of India, has approved the conversion of the company’s outstanding spectrum auction dues into equity shares. This move aligns with the reforms and support package for the telecom sector announced in September 2021.

Conversion Amount and Share Details

The total amount to be converted into equity is ₹36,950 crore. Vodafone Idea has been directed to issue 3,695 crore equity shares of face value ₹10 each, at the same issue price of ₹10 per share. The pricing follows regulatory norms, ensuring it is not below the par value and is calculated based on the higher of the volume-weighted average price of the last 90 or 10 trading days prior to the relevant date, which was set as 26 February 2025.

Government Shareholding to Rise Significantly

Following the issuance, the Government of India’s shareholding in Vodafone Idea will increase from 22.60% to approximately 48.99%. Despite this rise in ownership, the company clarified that the promoter group will retain operational control.

Awaiting Regulatory Approvals

Vodafone Idea also mentioned that it would proceed with the share issuance after receiving the necessary approvals from relevant authorities, including the Securities and Exchange Board of India (SEBI). The company is expected to complete the process within 30 days of receiving these clearances.

VI Share Price Performance

In response to this material development, Vodafone Idea’s share price surged and hit the upper circuit. The shares of Vodafone Idea  was up by 10% at  ₹7.48 as of 10:00 AM. 

Conclusion 

This strategic move significantly eases Vodafone Idea’s debt burden and strengthens its financial position. With government backing, the company gains a renewed lifeline.

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.

HAL Share Price Hits 3-Month High After Receiving ₹62,777 Crore Order from Ministry of Defence

Hindustan Aeronautics Limited (HAL) announced provisional and unaudited revenue figures for the financial year 2024–25, reporting ₹30,400 crore, marginally up from ₹30,381 crore in FY24. This steady performance comes despite supply chain challenges and delivery disruptions.

Deliveries of the Light Combat Aircraft (LCA) were delayed due to engine shortages, and the Advanced Light Helicopter (ALH) schedule faced setbacks following an accident in January 2025 that led to a temporary grounding of the fleet. Nevertheless, the company accelerated deliveries of other products and services to maintain revenue levels.

HAL share price surged to a fresh 3-months high at ₹4,444.95 on NSE. At 9:52 AM, the stock price was trading higher by 3.42% at  ₹4,318.85. 

Massive Growth in Order Book

HAL’s order book showed significant growth, standing at ₹1,84,000 crore at the close of FY25, up from ₹94,129 crore at the beginning of the year, after accounting for order execution. New manufacturing contracts worth ₹1,02,000 crore and Repair & Overhaul (ROH) contracts totalling ₹17,500 crore contributed to this robust pipeline.

Among the standout deals was the Ministry of Defence’s order for 156 Light Combat Helicopters (LCH) “Prachand”, valued at ₹62,777 crore, the single largest procurement from HAL to date.

Capacity Expansion to Meet Demand

To meet the growing order book, HAL has ramped up its manufacturing capabilities. The company added new production lines for the LCA and ALH and enhanced aero-engine capacity at its Koraput facility. These expansions are expected to support increased output in the coming fiscal year.

Key Contracts and Achievements

FY25 saw HAL attain several major milestones:

  • Achieved ‘Maharatna’ status, becoming the first Defence PSU to do so.
  • Signed contracts for 12 additional Su-30 MKI fighter aircraft.
  • Commenced the Mid-Life Upgrade (MLU) of 40 Do-228 aircraft.
  • Secured orders for 240 AL31FP engines for Su-30 MKI aircraft.
  • Took on an avionics upgrade project for an IL-78 aircraft.
  • Delivered the first AL31FP engine within a month of signing the contract.

Conclusion

With supply chain issues showing signs of easing and capacity enhancements in place, HAL appears poised for a stronger performance in FY26. The company anticipates both physical and financial indicators to reflect continued momentum, driven by the healthy order pipeline and strategic partnerships with the defence sector.

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.

Pace Digitek Files Draft Papers for ₹900 Crore IPO with SEBI

Bengaluru-based Pace Digitek, a key player in the telecom passive infrastructure sector, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth ₹900 crore. The company aims to strengthen its financial position and expand its operations through the public offering.

IPO Details and Allocation

The IPO consists of a fresh issue of equity shares with a face value of ₹2, aggregating up to ₹900 crore. Pace Digitek may opt for a pre-IPO placement of up to ₹180 crore, which, if executed, will reduce the fresh issue size accordingly. The price band and minimum bid lot will be finalised in consultation with the book-running lead manager.

The issue allocation will be divided into three categories: 50 % for qualified institutional buyers (QIBs), 15 % for non-institutional investors (NIIs), and 35 % for retail investors. The shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). MUFG Intime India is the registrar for the issue, while Unistone Capital serves as the sole book-running lead manager.

Utilisation of Funds and Company Overview

Pace Digitek plans to use ₹630 crore from the net proceeds to fund capital expenditure requirements for its subsidiary, Pace Renewable Energies. The investment will primarily support the development of battery energy storage systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company. The remaining funds will be allocated for general corporate purposes.

About Company

Established in March 2007, Pace Digitek has grown into a multidisciplinary solutions provider in the telecom passive infrastructure sector. The company initially focused on manufacturing passive electrical equipment but has since expanded its operations to include turnkey solutions, project execution, operations and maintenance (O&M), and other services. With a pan-India presence and international operations in Myanmar and Africa, Pace Digitek continues to strengthen its market position.

Conclusion

With its proposed IPO, Pace Digitek aims to secure funding for expansion and infrastructure development. By leveraging its expertise in telecom passive infrastructure and renewable energy solutions, the company seeks to enhance its market presence both in India and internationally.

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.

Adani Green Energy Arm Operationalise Additional 25 MW Solar Power Generation in Khavda

Adani Green Energy Limited (AGEL) has been actively expanding its renewable energy portfolio with significant milestones achieved in March 2025. The company has commissioned multiple solar power projects and secured a long-term power supply contract. This chronological overview details the key events that have reinforced AGEL’s position as a leader in the renewable energy sector.

Further Expansion of Renewable Capacity

AGEL’s wholly-owned step-down subsidiary, Adani Renewable Energy Fifty Seven Limited, operationalised another solar power project of 25 MW at Khavda, Gujarat. 

This increased AGEL’s total operational renewable generation capacity to 14,242.9 MW. The decision to operationalise the plant was made at 9:43 PM, with the plant becoming active from 1 April 2025.

Operationalisation of Solar Power Projects

On 29 March 2025, AGEL operationalised an incremental solar power project of 37.50 MW at Khavda, Gujarat. With this development, AGEL’s total renewable generation capacity rose to 13,737.8 MW. This further consolidated AGEL’s leadership in India’s renewable energy landscape.

Commissioning of a Large-Scale Solar Project

On 28 March 2025, AGEL’s wholly-owned step-down subsidiary, Adani Renewable Energy Fifty Seven Limited, commissioned a 212.50 MW solar power project at Khavda, Gujarat. This addition increased AGEL’s total operational renewable capacity to 13,700.3 MW. The decision to commission the plant was made at 12:30 PM, with operations set to commence the next day.

Securing a Major Solar Power Contract 

On 27 March 2025, AGEL’s wholly-owned subsidiary, Adani Renewable Energy Holding Twelve Limited (AREH12L), received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL). 

The contract mandates the supply of 400 MW of solar power from a grid-connected solar PV project in Rajasthan at a tariff of ₹2.57/kWh for 25 years. The LOA was issued at 6:39 PM, marking a significant step in AGEL’s expansion plans.

AGEL Share Performance 

As of April 01 2025, at 1:00 PM, Adani Green Energy share price was trading at ₹933, reflecting a decline of 1.65% from its previous closing price. Over the past month, it has surged by 16.03%. The stock has a 52-week high and 52-week low of ₹2,174.10 and ₹758.00 per share, respectively 

Conclusion 

AGEL’s recent achievements illustrate its strategic growth and execution capabilities. From securing a long-term solar power contract to commissioning and operationalising large-scale solar projects, the company has made significant strides in expanding its renewable energy footprint. 

These milestones reinforce AGEL’s commitment to driving India’s transition towards a sustainable energy future.

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 Unveils Massive 5.4 GW Solar Cell Gigafactory

India has taken a significant step forward in renewable energy with the inauguration of its largest solar cell manufacturing gigafactory. Waaree Energies Ltd. has established a state-of-the-art facility in Chikhli, Gujarat, with a production capacity of 5.4 GW. 

This milestone strengthens India’s self-reliance in solar technology and aligns with the nation’s ambitious clean energy goals.

A Milestone in India’s Green Energy Revolution

Spanning 150 acres, with a built-up area of 101 acres, the facility is designed to support India’s broader goal of achieving 500 GW of renewable energy by 2030. Waaree Energies aims to revolutionise the domestic solar manufacturing industry by focusing on cutting-edge technology, efficiency, and sustainability.

Transforming the Energy Landscape

The Chikhli gigafactory stands as a testament to India’s transition towards energy independence. Shri Pralhad Joshi, the Union Minister of New and Renewable Energy, highlighted Gujarat’s pioneering role in India’s clean energy movement.

He emphasised that this factory embodies the spirit of Atmanirbhar Bharat, positioning India as a leader in global renewable energy manufacturing.

Hitesh Doshi, Chairman and Managing Director of Waaree Energies, described the facility as more than just infrastructure; he called it a blueprint for India’s energy future. He expressed that each solar cell produced represents India’s aspiration for technological advancement, economic self-sufficiency, and leadership in the clean energy sector.

Economic and Environmental Impact

Beyond technological innovation, Waaree Energies’ new plant brings substantial economic and environmental benefits. The facility is expected to generate over 9,500 direct jobs and approximately 30,000 indirect employment opportunities, significantly contributing to local economic growth. Additionally, the gigafactory aligns with India’s decarbonisation objectives by producing high-efficiency solar cells, reducing dependence on imported energy, and fostering a sustainable future.

Waaree Energies Share Performance 

As of April 01 2025, at 11:55 AM, Waaree Energies’ share price was trading at ₹2,389.90 per share, reflecting a decline of 0.61% from its previous closing price. O

Over the past month it has surged by 12.94%. The stock has a 52-week high and 52-week low of ₹3,743.00 and ₹2,026.00 per share respectively 

Conclusion

The inauguration of Waaree Energies’ gigafactory in Chikhli is a defining moment for India’s renewable energy sector. By fostering innovation, creating jobs, and supporting the country’s clean energy goals, this facility strengthens India’s position as a leader in solar manufacturing. 

As the world moves towards sustainable solutions, this development marks a significant step towards a greener and more self-sufficient energy future.

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.

RITES Shares Surge on Securing Contract from Numaligarh Refinery and Oil India

Rites Limited has secured two major infrastructure contracts that have energised investor confidence. The company won a ₹155.50 crore contract from Numaligarh Refinery Limited (NRL) for developing railway sidings and a ₹157.25 crore contract from Oil India Limited for constructing a Workmen Housing Complex.

Key Details of the Contracts

  • The NRL contract involves the development of railway infrastructure on a turnkey cost-plus basis. This includes the construction of railway sidings at the NRL Panchgram Terminal, a third railway spur at Rangapani (SMT) and a crude oil loading siding at Duliajan. The total value of the project is ₹155.50 crores, excluding GST, with a timeline of 24 months from the site handover.
  • The Oil India contract involves the turnkey construction of a Workmen Housing Complex (BQ Area) at Duliajan, executed under the Depository Works Mode. The total value of the project is ₹157.25 crore, excluding GST, with a completion period of 36 months.

About Rites Limited

Rites Limited is a government-owned engineering and consultancy leader specialising in transport infrastructure. The company’s expertise spans railways, roads, ports and airports, covering planning, design and project execution across India and international markets.

Share Performance 

As of April 01, 2025, at 10:30 AM, with a market capitalisation of ₹110.39 billion, Rites share price is trading at ₹228 per share, reflecting a profit of 2.07% from its previous closing price.

Over the past month, the stock has registered a profit of 14.88%. The P/E ratio stands at 32.30. The stock’s 52-week high stands at ₹398.45 per share, while its low is ₹192.40 per share.

Conclusion

These contract wins demonstrate RITES’ strong capabilities in infrastructure development and its ability to secure high-value projects. The ₹312.75 crore combined value significantly strengthens the company’s order book and market position.

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.