Zen Technologies Share Surge on Receiving ₹152 Crore Order from Ministry of Defence

Zen Technologies Limited, today, on March 27, 2025, informed the stock exchanges that it has received an order from the Ministry of Defence, Government of India. The order is valued at approximately ₹152 crore, inclusive of taxes. It involves the supply of the company’s Integrated Air Defence Combat Simulator (IADCS) for the L70 anti-aircraft gun.

As of 2:25 PM on March 27, Zen Technologies Limited share price was trading at ₹1,437.20, down ₹5.65 (0.39%) for the day, but still up 29.49% over the past month and down 15.91% over the past six months.

Scope of Work

The contract is domestic in nature and covers the delivery of simulation systems that aid in air defence combat training. These simulators are used to provide virtual training environments, reducing the need for live firing exercises and helping improve operational readiness.

The company stated that the order is to be executed within a period of 18 months. No further specifics about the delivery schedule or production have been disclosed.

Regulatory Disclosures

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. An annexure attached to the filing confirmed that there is no related party interest in the awarding entity, and the promoter group has no connection to the order.

As of the filing, there has been no analyst commentary or market reaction publicly available regarding the impact of this order on the company’s financials.

Other Details

  • Awarding Entity: Ministry of Defence, Government of India
  • Order Value: Approx. ₹152 crore (inclusive of taxes)
  • Product: Integrated Air Defence Combat Simulator for L70 Gun
  • Contract Type: Domestic
  • Execution Period: 18 months
  • Promoter Interest: None
  • Related Party Transaction: No

Conclusion

The order has been disclosed as per regulatory norms. No further details about the project or its strategic importance have been provided by the company at this time.

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.

Invesco and DSP Mutual Funds Roll Out Income Distributions Under IDCW Option

Two major asset management companies – Invesco Mutual Fund and DSP Mutual Fund have announced income distribution under the IDCW (Income Distribution cum Capital Withdrawal) option for select schemes, with the record date fixed for March 28, 2025.

Invesco Mutual Fund

Invesco Mutual Fund declared income distribution for two of its prominent schemes:

Scheme Name IDCW Distribution (₹/unit)
Invesco India Balanced Advantage Direct-IDCW ₹0.2
Invesco India Balanced Advantage-IDCW ₹0.2
Invesco India PSU Equity Direct-IDCW ₹3.9
Invesco India PSU Equity-IDCW ₹3.9

The PSU Equity scheme’s payout of ₹3.90 per unit stands out, almost 20 times higher than the Balanced Advantage scheme’s ₹0.20, making it a significant distribution for investors in this category. These payouts are applicable across both regular and direct plans.

DSP Mutual Fund

Meanwhile, DSP Mutual Fund has announced an income distribution of ₹0.20 per unit for its DSP Aggressive Hybrid Fund, across both regular and direct plans under the IDCW option. This hybrid scheme, known for blending equity with fixed-income exposure, continues its trend of consistent payouts.

The declared distribution aligns with that of Invesco’s Balanced Advantage Fund, although with a more conservative portfolio strategy.

What Investors Should Know

The record date for all schemes is March 28, 2025, which means investors must hold units by this date to be eligible for the declared IDCW. Distributions are typically paid within a few working days following the record date.

Conclusion

While both fund houses are offering modest payouts under their balanced or hybrid categories, Invesco’s PSU Equity Fund has taken the spotlight with a notably higher distribution. These announcements may offer some timely returns for investors.

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

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

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

Zomato Backed Fitness Firm Cult.Fit Selects Bankers for ₹2,500 Crore IPO

As per news reports, Fitness and wellness platform Cult.fit, backed by Zomato, has selected a group of investment banks to manage its upcoming Initial Public Offering (IPO), as per recent reports. The company is looking to raise up to ₹2,500 crore through the issue, which is expected to value it at nearly $2 billion.

The appointed book-running lead managers include Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial.

Background and Ownership

Cult.fit was founded by Mukesh Bansal and Ankit Nagori. In November 2021, Zomato acquired a 6.4% stake in the company for $100 million, valuing it at $1.56 billion at the time. Other notable investors include Accel Partners, which holds a 17.25% stake following a recent funding round. 

Additional stakeholders include Tata Digital, Temasek, Kalaari Capital, and Chiratae Ventures.

Revenue and Operations

For the financial year 2024, Cult.fit reported a topline of approximately ₹1,000 crore. The company currently operates over 500 gyms across Indian cities. However, its business spans more than just fitness centres.

Here’s a breakdown of the company’s revenue sources:

Business Segment Contribution to Revenue
Cultsport 30%
Eat.fit 24.5%
Mind.fit Small portion
Care.fit Less than 5%
  • Cultsport is the company’s direct-to-consumer business for fitness apparel and equipment.
  • Eat.fit is a healthy meal delivery service.
  • Mind.fit focuses on mental wellness and yoga-related offerings.
  • Care.fit includes healthcare services such as clinics and health check-ups.

Current Valuation 

The IPO is expected to push the company’s valuation close to the $2 billion mark. Cult.fit’s last known valuation was $1.56 billion during Zomato’s investment in 2021.

Conclusion

With its bankers in place and a ₹2,500 crore target, Cult.fit is preparing for a public listing. The company’s diversified business model and investor backing position it as a notable entrant in the upcoming IPO pipeline. Other details are to be announced soon.

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.

TVS Motor Singapore Arm Acquires Additional 30% Stake in EBCO for GBP 60,000

TVS Motor (Singapore) Pte. Limited, a wholly-owned subsidiary of TVS Motor Company, has acquired an additional 30% stake in EBCO Limited, a UK-based electric bike distributor. This acquisition, completed on March 26, 2025, for £60,000, results in EBCO becoming a fully owned subsidiary of TVS Motor Singapore. 

Details About EBCO Limited

EBCO Limited is a UK-based company that distributes electric bicycles and serves the growing British e-bike market. Founded on March 3, 2010, it works with major dealers across the UK. Its financial performance has varied in recent years, with a revenue of ₹7.07 crore in 2023-24, ₹4.87 crore in 2022-23 and ₹8.85 crore in 2021-22. However, the company has faced losses, reporting a net loss of ₹15.15 crore in 2023-24.

Purpose and Impact of the Acquisition

TVS Motor Company views EBCO as a strategic partner in strengthening its position in the e-bike segment. By acquiring full ownership, TVS aims to expand its footprint in the electric mobility market, using EBCO’s experience and strong presence in the UK. This move supports TVS’s long-term goal of focusing on sustainable transportation.

Financial and Legal Aspects of the Deal

The acquisition was conducted as a cash transaction, requiring no regulatory or government approvals. TVS Motor Singapore acquired the 30% stake for £60,000, bringing its total ownership in EBCO to 100%. With this acquisition, TVS aims to enhance its global market presence in the electric bike industry.  

Share performance 

As of March 27, 2025, at 11:50 AM, TVS Motor Company share price is trading at ₹2,451.50 per share, reflecting a surge of 0.92% from the previous day’s closing price. Over the past month, the stock has registered a profit of 4.81%. The stock’s 52-week high stands at ₹2,958.00 per share, while its low is ₹1,873.00 per share.

Conclusion

The complete acquisition of EBCO Limited marks a significant step for TVS Motor in its journey toward strengthening its electric mobility portfolio. By securing full ownership, TVS positions itself to capitalise on the growing e-bike market in the UK and beyond. 

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.

IRM Energy Secures Long-Term RLNG Supply Agreement with Shell Energy

IRM Energy Limited has entered into a long-term contract with Shell Energy India Private Limited for the supply of Regasified Liquefied Natural Gas (RLNG). This five-year agreement ensures a stable and cost-effective energy supply, reinforcing IRM Energy’s commitment to sustainability and reliability in the gas sector.

Strengthening Industrial and Commercial Energy Supply

Under this agreement, IRM Energy will procure 1,23,21,200 MMBtu (approximately 326.84 mmscm) of RLNG, enhancing its supply security for industrial and commercial customers. This partnership with Shell, a leading global LNG supplier, allows IRM Energy to offer cleaner energy solutions, aiding businesses in reducing their carbon footprint while maintaining operational efficiency.

Advancing Energy Security and Sustainability

This deal aligns with IRM Energy’s mission to drive energy accessibility through strategic collaborations. By securing a long-term RLNG supply, the company not only supports industrial growth but also contributes to India’s transition to cleaner energy. The agreement signifies a step forward in ensuring affordability and innovation in the natural gas sector.

IRM Energy Share Performance 

As of March 27, 2025, at 2:00 PM, IRM Energy share price are trading at ₹294.85 per share, reflecting a surge of 8.08% from the previous day’s closing price. Over the past month, the stock has seen a surge of 6.0%

Conclusion

IRM Energy’s partnership with Shell reinforces its commitment to providing sustainable and reliable energy solutions. This agreement enhances the company’s sourcing capabilities, benefiting both industrial users and India’s broader energy goals.

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

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

Indian Companies Overseas Investments Rise by 40% to $36 Billion in FY25

Indian firms have increased their overseas investments significantly in FY25. Data from the Reserve Bank of India (RBI) shows that $36 billion was remitted abroad through Overseas Direct Investment (ODI) in the first 11months of the financial year. This marks a 40% increase compared to $25.2 billion in FY24 and $24.8 billion in FY23.

February Records Highest Monthly Outflow

February 2025 recorded the highest monthly ODI outflow in at least 38 months, with Indian companies sending $5.35 billion overseas. This figure includes large corporate transactions, contributing to the overall rise in outflows during the fiscal year.

Top ODI Destinations

Singapore accounted for the largest share of ODI outflows, receiving 23% of the total. Indian firms often use Singapore as an intermediary destination due to its tax treaties with several countries. The United States was the second-largest destination, receiving 16% of total ODI.

While the US saw more individual transactions than Singapore, most of them were small-ticket transfers, typically under $100 million. Companies sending funds to the US were primarily from the services sector, especially information technology.

The United Kingdom and United Arab Emirates followed, accounting for 12% and 10% of the ODI outflows, respectively. Sectors in these regions included manufacturing, logistics, metals, and minerals. Other key destinations included the Netherlands and Mauritius.

Notable Transactions in FY25

Significant transactions during the year included Vedanta’s $1 billion remittance to its Mauritius-based subsidiary THL Zinc in February. Sun Pharma transferred $829 million to its Netherlands arm in December. In October, Biocon Biologics issued guarantees for its joint venture in the UK.

ODI vs LRS

ODI allows companies to send up to $1 billion abroad annually for business purposes. This differs from the Liberalised Remittance Scheme (LRS), which permits individuals to send up to $250,000 abroad each year.

Conclusion

The 40% increase in ODI outflows during FY25 shows a rise in cross-border activity by Indian companies. A mix of large deals and steady sectoral investments contributed to the $36 billion total, with destinations spread across Asia, Europe, and North America.

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.

Defence Ministry Signs ₹6,900 Crore Deal for Artillery Systems and Vehicles With Bharat Forge and Tata Advanced Systems

The Ministry of Defence (MoD) has signed contracts worth ₹6,900 crore with Bharat Forge Limited and Tata Advanced Systems Limited. The agreement includes the procurement of 155mm/52 calibre Advanced Towed Artillery Gun Systems (ATAGS) and high mobility 6×6 gun towing vehicles.

As of 12:45 PM on March 27, Bharat Forge share price was trading at ₹1,169.55, down 1.13% for the day, 12.63% over the past month, and 23.18% in the last 6 months.

Breakdown of the Procurement

Bharat Forge will supply 184 units of the ATAGS, developed in collaboration with the Defence Research and Development Organisation (DRDO). This forms 60% of the total contract value. Tata Advanced Systems will provide the 6×6 towing vehicles required to mobilise these artillery systems in the field.

ATAGS to Replace Older Systems

The 155mm/52 calibre ATAGS are intended to replace older, smaller calibre guns currently in service. These new systems offer increased range and improved targeting accuracy. The move is part of the Army’s ongoing efforts to modernise its artillery regiments and phase out outdated equipment.

Private Sector Involvement

This is the first major order for towed artillery guns placed by the Indian Army with private companies. It is expected to increase production activity in the domestic defence sector and contribute to the broader goal of self-reliance in defence manufacturing.

Context and Capital Spend

With this latest contract, the total value of capital procurement signed by the Ministry of Defence for FY 2024-25 has reached ₹1.40 lakh crore. Earlier, on March 20, the Defence Acquisition Council cleared defence acquisition proposals worth over ₹54,000 crore. These included approvals for aircraft systems, tank engines, and other military hardware.

The ATAGS systems were developed by DRDO’s Armament Research and Development Establishment in Pune. During the contract signing, the project director from DRDO was formally recognised for contributions to the system’s development.

Conclusion

The current procurement adds new capabilities to the Indian Army’s artillery regiments while expanding domestic production of military systems.

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.

RBI Imposes ₹75 Lakh Penalty on HDFC Bank for KYC Non-Compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹75 lakh on HDFC Bank for non-compliance with certain directions related to Know Your Customer (KYC) norms.

As of 1:13 PM on March 27, HDFC Bank share price was trading at ₹1,836.75, up ₹30.20 or 1.67% for the day, showing an 8.00% gain over the past month and 27.49% over the past year.

Details of the Violation

According to the RBI’s statement, a Statutory Inspection for Supervisory Evaluation (ISE 2023) was conducted based on the bank’s financial position as of March 31, 2023. During the inspection, it was observed that HDFC Bank had not categorised certain customers into low, medium, or high-risk categories as required under KYC regulations. Additionally, the bank had allotted multiple customer identification codes to some individuals instead of assigning a Unique Customer Identification Code (UCIC) for each customer.

RBI’s Response and Action

Following the inspection, a notice was issued to HDFC Bank asking why a penalty should not be imposed. After reviewing the bank’s reply and supporting documents, the RBI found that the violations were sustained. The penalty was imposed under the provisions of Section 47A(1)(c), read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The RBI clarified that the penalty is based on deficiencies in regulatory compliance and does not impact the validity of any transaction or agreement made by the bank with its customers.

Penalties on Other Institutions

In a separate order, the RBI also imposed a monetary penalty of ₹68.20 lakh on Punjab & Sind Bank. The bank failed to report certain borrowers with non-fund-based exposure of ₹5 crore and above to the Central Repository of Information on Large Credits (CRILC). It also allowed some Basic Savings Bank Deposit Account (BSBDA) holders to open regular savings accounts, which violates RBI norms.

Additionally, KLM Axiva Finvest was fined ₹10 lakh for non-compliance with dividend declaration norms.

Conclusion

All penalties were issued for regulatory non-compliance. The RBI stated that these actions do not affect any existing agreements or transactions between the institutions and their customers.

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.

Vedanta Names Rajiv Kumar CEO of Aluminium Division for 3-Year Term

Vedanta Ltd. has appointed Rajiv Kumar as the Chief Executive Officer (CEO) of its aluminium business for a term of 3 years, effective March 26, 2025.

As of 12:50 PM on March 27, Vedanta share price was trading at ₹468.05, up ₹3.90 (0.84%) for the day, having gained 15.70% over the past month but down 8.76% in the last six months.

Board Approval and Designation

The company’s board of directors approved the appointment during a meeting held on March 26, 2025, based on the recommendation of the Nomination and Remuneration Committee. Kumar has also been designated as Senior Management Personnel (SMP) at Vedanta Limited.

Professional Background

Rajiv Kumar joins Vedanta from Tata Steel Ltd. He has been with the company since 1990 and has held various leadership positions in the steel and mining sectors. On March 12, 2025, Tata Steel announced that Kumar had resigned from his role as Vice President – Operations at Tata Steel Kalinganagar, with immediate effect. A replacement has not yet been announced.

Kumar has a degree in Metallurgical Engineering from BIT Sindri and a General Management degree from INSEAD, France.

Responsibilities at Vedanta

Kumar will be responsible for overseeing the strategy of the aluminium business. This includes work related to the ongoing demerger process, development of partnerships, marketing, and handling ESG-related functions. He will also focus on digitalisation and operational processes within the aluminium vertical.

Vedanta’s Restructuring

Vedanta is currently in the process of demerging its operations into five separate listed entities: aluminium, oil and gas, power, steel, and base metals. The demerger has been approved by shareholders and creditors. As part of the plan, shareholders will receive one share in each resulting entity, with no change to the overall shareholding pattern.

The board meeting on March 26, 2025, started at 3:00 PM and concluded at 4:10 PM.

Conclusion

The appointment of Kumar comes at a time when Vedanta is restructuring its business into multiple independent entities.

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.

Coal Ministry to Launch 12th Tranche of Coal Mine Auction on March 27

The Ministry of Coal will launch the 12th tranche of commercial coal mine auctions on Thursday, March 27, 2025. A total of 25 coal blocks are being offered in this round.

Breakdown of the 25 Mines

Out of the 25 mines, 7 fall under the Coal Mines (Special Provisions) Act, 2015 (CMSP), and 18 under the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR). The list includes 2 lignite mines. 13 of the 25 blocks are fully explored, while the remaining 12 are partially explored. As per the reports, this provides a mix of immediate operational opportunities and blocks requiring further exploration work.

Additional Blocks from Round 11

In addition to the 25 mines under the 12th round, the Ministry is also conducting a second attempt to auction 3 partially explored coal mines from the previous round (Round 11). These three blocks are also being offered under the MMDR Act.

Launch Details

The auction launch event will be held in the presence of Union Minister of Coal and Mines, Shri G. Kishan Reddy, who will attend as the Chief Guest. Shri Satish Chandra Dubey, Union Minister of State, will be the Guest of Honour.

The commercial coal mine auctions were first introduced on June 18, 2020. The initiative was launched with the aim of opening up the coal sector to private players and increasing domestic production. This is the twelfth round since its inception.

Conclusion

The upcoming auction includes a total of 28 blocks- 25 under the 12th round and 3 re-auctioned from Round 11. These auctions continue to be a regular part of the Ministry’s efforts to increase domestic coal availability and offer mining opportunities to a wider set of stakeholders.

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.