BHEL Secures ₹11,800 Crore Order for Thermal Power Project in Chhattisgarh

Bharat Heavy Electricals Limited (BHEL), one of India’s leading engineering and manufacturing companies, has received a significant Letter of Intent (LOI) from Chhattisgarh State Power Generation Company Limited (CSPGCL). The LOI pertains to an Engineering, Procurement, and Construction (EPC) package for a supercritical thermal power project in Korba, Chhattisgarh, valued at approximately ₹11,800 crore.

Share Price Reaction

Following the announcement, BHEL’s share price jumped over 2.5% as of 11:37 AM on March 28, 2025, indicating a positive market reaction to the order win.

Project Scope and Specifications

The project involves the establishment of a 2×660 MW supercritical thermal power plant at Hasdeo Thermal Power Station in Korba West, Chhattisgarh. The scope of the package includes:

  • Supply of supercritical equipment such as boilers, turbines, generators, and associated auxiliaries

  • Installation of electrical systems, control and instrumentation (C&I)

  • Balance of Plant (BoP) packages

  • Erection and commissioning works

  • Comprehensive civil construction

Domestic Competitive Bidding and Execution Timeline

Awarded through domestic competitive bidding, the project reflects the competitiveness of Indian EPC companies. BHEL is expected to complete the project and commence commercial operations within a 60-month timeframe.

Commercial Terms and Other Details

The order, valued at around ₹11,800 crore (excluding taxes and duties), has been awarded by a domestic entity with no promoter or group company interest involved. Additionally, the contract does not qualify as a related party transaction.

Conclusion

The order marks a notable addition to BHEL’s portfolio in the thermal power sector. It underscores the company’s technical capabilities and its vital role in advancing India’s power infrastructure. The market’s immediate response further reinforces investor confidence in BHEL’s order execution pipeline.

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.

BEL Secures Additional Orders Worth ₹1,385 Crore, Order Book Reaches ₹18,415 Crore

Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, has announced additional orders worth ₹1,385 crore since its last disclosure on 12th March 2025. With this latest oders, the company’s total order inflow for the financial year has reached ₹18,415 crore.

New Orders Across Defence and Electronic Systems

According to a stock exchange filing, BEL’s latest contracts include radar spares, radar upgradation, electronic voting machines, simulators, advanced land navigation systems, stabilisers for tanks, fire control systems for ship-based decoys, and communication equipment. These projects reinforce BEL’s role as a key supplier of advanced defence and electronic systems.

Major Defence Contract for Ashwini Radars

Earlier in March, BEL secured a ₹2,463 crore contract (excluding taxes) from the Ministry of Defence for supplying and servicing Ashwini Radars for the Indian Air Force. These fully indigenous Active Electronically Scanned Array (AESA) radars, developed in collaboration with the Defence Research and Development Organisation (DRDO), feature integrated Identification Friend or Foe (IFF) systems, enabling 4D surveillance with electronic scanning in both azimuth and elevation.

BEL Share Performance 

As of March 28, 2025, at 2:56 PM, BEL share price was trading at ₹302.58 per share, reflecting a surge of 0.64% from its previous closing price.

Conclusion

BEL continues to strengthen its position in India’s defence sector with a robust order book. The recent contracts highlight its expertise in radar technology, navigation systems, and electronic warfare, further solidifying its role in national security and technological advancements.

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.

Nippon India Files Draft with SEBI to Launch Nifty 500 Low Volatility 50 Index Fund

Nippon India Mutual Fund has announced the launch of its Nifty 500 Low Volatility 50 Index Fund, a passive investment scheme designed to replicate the performance of the Nifty 500 Low Volatility 50 Total Return Index (TRI). This open-ended index fund is aimed at investors seeking long-term capital growth through investments in a low-volatility equity portfolio.

Investment Objective

The scheme’s primary goal is to provide returns that correspond closely to the total returns of the Nifty 500 Low Volatility 50 Index, subject to tracking errors. While the fund is designed to follow the index, there is no guarantee of achieving perfect alignment due to operational and market factors.

Benchmark Index

The fund uses the Nifty 500 Low Volatility 50 TRI as its benchmark. This index comprises 50 stocks selected from the Nifty 500 universe based on their low volatility over the past year, aiming to offer a more stable equity investment experience.

Fund Category and Type

This is an Index Fund under the equity-oriented scheme category. It is open-ended, allowing investors to subscribe and redeem units on any working day.

Asset Allocation

The scheme will predominantly invest 95–100% of its assets in securities comprising the Nifty 500 Low Volatility 50 Index, ensuring high fidelity to the benchmark. Up to 5% may be allocated to money market instruments and cash equivalents for liquidity purposes.

Investment Strategy

The scheme will passively track the index by investing in its constituents in the same proportion as in the index. There will be no active stock selection. The strategy aims to minimise tracking error, which under normal conditions is expected to be capped at 2% per annum. The fund may also use equity derivatives for temporary rebalancing or liquidity management, restricted to 20% of the equity portfolio.

Fund Manager Details

The scheme is managed by Mr Jitendra Tolani, who has over 18 years of experience in equity trading and fund management.

Plans and Options

The fund offers both Direct and Regular Plans, each with:

  • Growth Option
  • Income Distribution cum Capital Withdrawal (IDCW): Payout and Reinvestment options.

Minimum Investment and Other Key Details

  • New Fund Offer Price: ₹10 per unit
  • Minimum Initial Investment: ₹1,000 and in multiples of ₹1 thereafter
  • Minimum Additional Purchase: ₹1,000
  • Minimum Redemption: ₹100 or account balance
  • Exit Load: Nil

Liquidity and NAV Disclosure

The fund offers daily liquidity, allowing purchases and redemptions on any working day. NAV will be published daily by 11:00 PM on both the AMFI and Nippon India websites.

Expense Ratio and Charges

The fund’s total annual recurring expenses are capped at 1% of daily net assets, as per SEBI norms. No NFO expenses will be charged to the scheme.

Risk Factors

As with all equity investments, the scheme is subject to market risks. Additional risks include:

  • Tracking error risk
  • Volatility of underlying index stocks
  • Liquidity risk
  • No active risk management during market downturns

The scheme does not attempt to outperform the benchmark or adopt defensive positions in bearish markets.

Conclusion

The Nippon India Nifty 500 Low Volatility 50 Index Fund is designed for investors seeking a low-volatility equity experience through a diversified passive portfolio. While it offers exposure to stable companies within the Nifty 500 universe, investors must consider market risks and the passive nature of the scheme before investing.

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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.

Nippon India Files Draft with SEBI for Nifty 500 Quality 50 Index Fund

Nippon India Mutual Fund has filed a draft Scheme Information Document (SID) with the Securities and Exchange Board of India (SEBI) for its upcoming offering—Nippon India Nifty 500 Quality 50 Index Fund. This open-ended equity scheme will passively track the Nifty 500 Quality 50 TRI and aims to provide exposure to high-quality companies through a rules-based investing approach.

Investment Objective

The objective of the scheme is to generate returns that correspond to the total returns of the Nifty 500 Quality 50 Index, before expenses and subject to tracking errors. It must be noted that there is no guarantee or assurance that the scheme will achieve its objective.

Benchmark Index

The scheme will use the Nifty 500 Quality 50 Total Return Index (TRI) as its benchmark. This index includes 50 companies from the Nifty 500 universe, selected based on quality parameters such as high return on equity, low financial leverage, and earnings stability.

Fund Category and Structure

  • Category: Index Fund (Equity-oriented) 
  • Type: Open-ended 
  • Scheme Style: Passively managed, tracking-based

Asset Allocation

The indicative asset allocation under normal circumstances is as follows:

Instrument Minimum Allocation (%) Maximum Allocation (%)
Securities constituting Nifty 500 Quality 50 Index 95 100
Cash & cash equivalents and Money Market instruments 0 5

Additionally, the scheme may engage in equity derivatives (up to 20% of the equity portfolio), securities lending (up to 15% of net assets), and limited investments in liquid and money market mutual fund schemes.

Investment Strategy

The scheme will adopt a passive investment approach, aiming to replicate the performance of the Nifty 500 Quality 50 Index. It will invest in the same securities and in similar proportions as the index without active stock picking or market timing. The fund may use derivatives and rebalancing to minimise tracking error.

Portfolio Turnover

Turnover is expected to be limited to rebalancing activities triggered by changes in the index composition and corporate actions, helping to keep transaction costs low.

Fund Manager

The scheme will be managed by Mr Jitendra Tolani, who brings over 18 years of experience in equity markets. He currently manages multiple index and sectoral funds within Nippon India Mutual Fund’s passive investment division.

Key Scheme Details

  • NFO Price: ₹10 per unit
  • Minimum Investment (NFO and Ongoing): ₹1,000 and in multiples of ₹1 thereafter
  • Exit Load: Nil
  • NAV Disclosure: Calculated daily and published on the AMC and AMFI websites by 11:00 p.m.

Plans and Options

Both Regular and Direct Plans will be available under:

  • Growth Option
  • Income Distribution cum Capital Withdrawal (IDCW) – with Payout and Reinvestment options

Risk Factors

As an equity index fund, the scheme is exposed to market risk, tracking error, and concentration risk linked to index methodology. It will not actively adjust holdings in response to market movements or macroeconomic events.

Expense Ratio

The annual recurring expenses are capped at 1% of daily net assets, with additional expenses permissible under SEBI guidelines. Direct plans will have a lower expense ratio as they exclude distribution commissions.

Special Features and Facilities

  • SIP, STP, and SWP options
  • Auto-switch facility from debt/liquid schemes during NFO
  • Digital investment platforms including website, app, and MF Utility
  • ASBA support for NFO participation

Conclusion

Nippon India Mutual Fund’s proposed Nifty 500 Quality 50 Index Fund aims to provide investors a convenient and low-cost way to access a portfolio of high-quality companies from the broader Nifty 500 universe. As this is a draft filed with SEBI, the fund is currently under review and subject to final approval and updates.

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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.

ICICI Prudential Files Nifty Private Bank Index Fund with SEBI

ICICI Prudential Mutual Fund has announced the launch of its Nifty Private Bank Index Fund, an open-ended index scheme tailored to replicate the Nifty Private Bank TRI. This fund offering is crafted for investors seeking long-term wealth creation by passively investing in India’s leading private-sector banks.

Objective of the Scheme

The fund’s investment objective is to provide returns that closely correspond to the total returns of the Nifty Private Bank Index, subject to tracking error. It aims to mirror the index by investing in the same constituents and in similar proportions.

Benchmark

The scheme will track the Nifty Private Bank Total Return Index (TRI) as its benchmark. This index is designed to reflect the performance of major private sector banks in India and is considered appropriate for performance comparison.

Category and Type of Scheme

The fund is classified as an “Other Scheme – Index Fund” under SEBI’s mutual fund categorisation. It is an open-ended scheme, meaning units can be bought or redeemed on any business day.

Asset Allocation

The scheme’s asset allocation is as follows:

  • 95–100% in equity and equity-related securities of companies forming part of the Nifty Private Bank Index.
  • 0–5% in money market instruments, including TREPs and debt mutual funds, primarily for liquidity management.

The scheme may also engage in stock lending, up to 20% of its net assets, in line with SEBI regulations.

Investment Strategy

ICICI Prudential Nifty Private Bank Index Fund follows a passive investment strategy, seeking to replicate the benchmark index rather than actively selecting stocks. Key highlights of the strategy include:

  • Investing in all index constituents in the same weight as the index.
  • Rebalancing the portfolio within 7 calendar days in the event of index changes.
  • Maintaining tracking error within the regulatory limit of 2%.

Where Will the Scheme Invest?

The fund will primarily invest in:

  • Equity shares of companies included in the Nifty Private Bank Index.
  • Equity derivatives (for short-term liquidity or rebalancing purposes).
  • TREPs and money market instruments to meet liquidity needs.

Fund Managers

The scheme will be jointly managed by:

  • Mr. Nishit Patel – Chartered Accountant and CFA (Level 1), associated with ICICI Prudential since 2018, with extensive experience managing various passive and index-based products.
  • Ms. Ashwini Shinde – M.Com and Inter CA, with years of experience at ICICI Prudential AMC across treasury operations and now managing passive schemes.

Plans and Options

The fund offers 2 plans:

  • Regular Plan
  • Direct Plan

Each plan provides the following options:

  • Growth Option (Default)
  • Income Distribution cum Capital Withdrawal (IDCW) with Payout and Reinvestment sub-options.

Load Structure

  • Exit Load: Nil
     Investors can exit the scheme without incurring any charges.

Minimum Investment Amounts

  • Initial purchase: ₹1,000 and in multiples of ₹1.
  • Additional purchase: ₹1,000 and in multiples of ₹1.
  • Minimum switch-in amount: ₹1,000.
  • Minimum redemption: Any amount.

Expense Ratio

The Total Expense Ratio (TER) is capped at 1.00% of the daily net assets. An additional 0.30% may be charged for retail inflows from specified B30 cities, subject to SEBI guidelines.

The direct plan will have a lower expense ratio as it excludes distributor commissions.

Special Facilities

The scheme supports Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), and Systematic Withdrawal Plan (SWP), offering flexibility in investing and withdrawing funds.

Conclusion 

The ICICI Prudential Nifty Private Bank Index Fund provides investors with an opportunity to invest passively in the growth and evolution of India’s private banking sector. By mirroring the Nifty Private Bank Index, the scheme seeks to deliver index-like returns with a disciplined, low-cost strategy.

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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.

Tata Capital IPO: Board Gave Approval to Go Public in EGM

As per news reports, Tata Capital Ltd., the financial services arm of the Tata Group, has moved a step closer to entering the public markets. In a significant development, the company’s shareholders have approved its proposed Initial Public Offering (IPO) during an Extraordinary General Meeting (EGM) held recently. This approval marks a pivotal milestone in the company’s listing journey and aligns with its strategic growth objectives.

Shareholders Vote in Favour of the IPO

According to a news report, the proposal to initiate the IPO was passed by the requisite majority during the EGM. A total of 367.9 crore votes were cast in favour by 230 members, while just 361 votes from eight members opposed the motion, as per the company’s exchange filing. The decision sets the stage for Tata Capital to become the 17th publicly traded entity under the Tata Group umbrella.

EGM Clears Additional Key Proposals

Alongside the IPO resolution, shareholders also approved several other significant proposals during the EGM. These included:

  • An increase in investment limits for non-resident Indians (NRIs) and overseas citizens of India (OCIs).

  • Amendments to the company’s Employee Stock Option Scheme (ESOP), which could pave the way for greater employee participation in the company’s equity.

IPO Structure and Fundraising Potential

As per news sources, Tata Capital’s IPO could raise around $2 billion (equivalent to over ₹17,000 crore), potentially valuing the company at approximately $11 billion. The offering is expected to comprise a fresh issue of 2.3 crore equity shares and an offer-for-sale by certain existing shareholders.

This dual structure suggests that the company aims to infuse fresh capital into its operations while also providing an exit route for some of its early investors.

Pre-IPO Fundraising Activity

Ahead of the proposed public listing, Tata Capital completed a rights issue earlier this week, raising ₹1,500 crore. Tata Sons, which currently holds a 93% stake in the company, fully subscribed to its entitlement. Other shareholders, including the International Finance Corporation, also participated in the issue. The capital raised is expected to support the company’s lending activities and improve its leverage ratios.

Regulatory Milestones and Classification

Tata Capital has already received board approval for the IPO and is classified as an ‘upper-layer’ non-banking financial company (NBFC) by the Reserve Bank of India (RBI). This classification brings it under tighter regulatory supervision, highlighting the significance of transparency and governance in its operations.

The company is also awaiting a final order from the National Company Law Tribunal (NCLT) regarding its proposed merger with Tata Motors Finance. The order is expected by the end of the current financial year, following which Tata Capital is likely to file its draft red herring prospectus with the Securities and Exchange Board of India (SEBI).

Conclusion

With shareholder approval now secured and other regulatory steps underway, Tata Capital’s IPO journey appears to be gaining momentum. If successful, the public listing will mark a new chapter in the company’s evolution and expand the Tata Group’s presence in the capital markets. However, it is important to note that the listing timeline and final structure remain subject to regulatory approvals and market conditions.

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.

SEBI Cancels Licenses of 72 Research Analysts for Failing to Renew Registration

The Securities and Exchange Board of India (SEBI) has cancelled the registrations of 72 research analysts for failing to pay the required renewal fees. The action aims to prevent the misuse of expired certificates by ensuring compliance with market norms. Additionally, SEBI imposed penalties on several entities for engaging in non-genuine trades in the BSE’s illiquid stock options segment.

SEBI Cancels Research Analyst Registrations

SEBI took regulatory action against 72 entities registered as research analysts after they failed to pay their renewal fees, leading to the expiration of their registration certificates. As per SEBI (Research Analyst) Regulations, 2014, every registered research analyst must pay a renewal fee every five years to maintain their registration. The failure of these entities to comply resulted in a summary proceeding under the intermediaries’ rules.

In February 2024, SEBI issued show-cause notices to the defaulters, seeking an explanation for the violation. Following their non-compliance, SEBI’s Chief General Manager Bithin Mahanta exercised his regulatory powers and officially cancelled their registrations. The regulator clarified that this move prevents the potential misuse of expired certificates by misleading investors. SEBI also directed these entities to maintain and preserve records related to investor grievances, client transactions, and fund transfers.

Penalties for Non-Genuine Trades in Illiquid Stock Options

In addition to the registration cancellations, SEBI penalised seven entities for conducting non-genuine trades in the illiquid stock options segment of the BSE. These trades created artificial volumes through large-scale reversal transactions between April 2014 and September 2015.

The entities penalised with fines of Rs. 5 lakh each include Sahadev Paik HUF, Paritosh Saha HUF, Tripta Shroff, and Daksh Share Brokers. Additionally, Abhishek Gupta, Faithful Cloth Merchants Pvt Ltd, and Bajaj Pratisthan Pvt Ltd were also fined for similar violations. SEBI’s investigation revealed that these entities participated in fraudulent trading practices that distorted market integrity, prompting enforcement action.

Conclusion

SEBI’s latest regulatory actions reinforce its commitment to market transparency and compliance. By cancelling expired registrations and penalising non-genuine trades, the regulator aims to uphold investor confidence and curb market malpractices.

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. 

Jindal Steel and Power Share Surge: Selected as Highest Bidder for Saradhapur Jalatap East Coal Block

Jindal Steel & Power (JSP) has been announced as the highest bidder for the Saradhapur Jalatap East coal block in a recent auction by the Ministry of Coal. The mine is located about 11 km from the company’s Angul steel plant, ensuring better access to raw materials. This move strengthens the company’s supply chain and reduces reliance on external sources.

Coal Block Details

The Saradhapur Jalatap East coal block has a total geological resource of approximately 3,257 million tonnes. It is positioned near JSP’s other mines, such as Utkal C, Utkal B1 and Utkal B2. JSP won the bid with a 10% revenue-sharing agreement.  

Strategic Benefits for JSP

This acquisition strengthens JSP’s ability to secure raw materials for steel production. By reducing dependency on external sources, the company aims to minimise supply chain risks and price fluctuations. This move also aligns with India’s vision of self-reliance under the “Aatmanirbhar Bharat” initiative.  

About Jindal Steel & Power

Jindal Steel & Power is a leading industrial group involved in steel, power, mining and infrastructure projects. The company continues to expand its operations globally while maintaining a strong focus on efficiency and sustainable growth.

Share performance 

As of March 28, 2025, at 1:30 PM, with a market capitalisation of ₹922.74 billion, Jindal Steel and Power share price was trading at ₹911.50 per share, reflecting a loss of 0.50% from the previous day’s closing price. Over the past month, the stock has registered a profit of 6.46%. The stock’s P/E stands at 22.83. The stock’s 52-week high stands at ₹1,097.00 per share, while its low is ₹723.35 per share.

Conclusion  

This acquisition strengthens JSP’s resource security, improves operational efficiency and supports its commitment to sustainable growth. It also aligns with India’s push for self-reliance in the industrial 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.

Adani Energy Solutions Expands Transmission Network with Mahan Acquisition

Adani Energy Solutions Ltd (AESL) has strengthened its transmission infrastructure by acquiring Mahan Transmission Ltd (MTL) for ₹2,200 crore. The acquisition aligns with AESL’s strategic growth plan, enhancing its power evacuation capacity and shareholder value.

Acquisition of Mahan Transmission

AESL signed a share purchase agreement with REC Power Development and Consultancy to acquire a 100% stake in MTL. The project, an intra-state transmission initiative, will evacuate 1,230 MW from Adani Power’s 1,600 MW expansion units at Mahan in Madhya Pradesh. The project involves the installation of 2,800 Mega Volt-Amperes (MVA) of substation capacity and 740 circuit kilometres (ckm) of transmission lines, further extending AESL’s network to 26,668 ckm and 89,986 MVA of transformation capacity. It is scheduled for completion by April 2027.

Strategic Growth and Competitive Bidding

AESL secured the project under the Tariff-Based Competitive Bidding (TBCB) framework, with REC Power Development and Consultancy acting as the bid process coordinator. This marks AESL’s seventh project win in the current financial year, expanding its transmission order book to ₹59,761 crore. The company stated in an exchange filing, “This acquisition is proposed to further AESL’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities.”

Adani Energy Solutions Limited Share Performance 

As of March 28, 2025, at 2:00 PM, Adani energy solutions share price was trading at ₹869.75 per share, reflecting a decline of 0.36% from its previous closing price.

Conclusion

The acquisition of MTL reinforces AESL’s leadership in India’s power transmission sector, supporting its long-term expansion and efficiency objectives. With a growing order book and continued investments, AESL remains a key player in India’s energy infrastructure.

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.

Bharat Forge’s Subsidiary and Spain’s DUMA Form Defence Joint Venture

Bharat Forge Limited’s wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL), has partnered with Spain-based Duma Engineering Group S.L. (DUMA) to establish a new defence-focused joint venture in Spain. The agreement was formalised on March 27, 2025, with KSSL holding a majority stake.

Joint Venture Structure and Stakeholding

Under the agreement, KSSL will own 90% of the joint venture company, while DUMA will hold the remaining 10%. The stake division is subject to conditions specified in the agreement. The partnership does not qualify as a related-party transaction, as DUMA has no affiliation with Bharat Forge’s promoters or associated entities.

Defence Technology and Market Focus

The joint venture aims to develop advanced technology and product platforms for the defence sector, catering to the needs of India, Europe, and select export markets. This collaboration is expected to strengthen Bharat Forge’s presence in the global defence industry while leveraging DUMA’s expertise in engineering solutions.

Bharat Forge Share Performance 

As of March 28, 2025, at 2:25 PM, Bharat Forge share price was trading at ₹1,173.10 per share, reflecting a decline of 0.26% from its previous closing price.

Conclusion

The joint venture between KSSL and DUMA marks a strategic expansion for Bharat Forge in the defence sector, reinforcing its international footprint and commitment to technological advancements.

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.