Sterling and Wilson Renewable Energy Appoints Ajit Pratap Singh as CFO Effective March 24

Sterling and Wilson Renewable Energy Limited has announced the appointment of Mr. Ajit Pratap Singh as its new Chief Financial Officer (CFO), effective from 24th March 2025. This decision follows the recommendations of the Nomination and Remuneration Committee and the Audit Committee.

Leadership Transition

Mr Ajit Pratap Singh will replace Mr Sandeep Mathew, who has been serving as the interim CFO. With effect from the close of business on 23rd March 2025, Mr Mathew will step down from his interim role but will continue to oversee Investor Relations. The appointment aligns with the company’s strategic goals of strengthening financial leadership.

Profile of the New CFO

Mr. Singh brings extensive financial expertise, holding multiple qualifications in finance, law, and business administration. His previous experience spans leading organisations like Vedanta Aluminium Limited, JSW Bengal Steel Limited, and South African Coal Mine Holdings. His diverse background and qualifications make him a valuable addition to the leadership team.

Sterling & Wilson Renewable Energy Share Performance

As of March 25, 2025, at 11:15 AM, the shares of Sterling & Wilson Renewable Energy are trading at ₹256.15 per share, reflecting a drop of 1.59% from the previous closing price. Over the past month, the stock has declined by 2.05%.

Conclusion

The appointment of Mr Ajit Pratap Singh as CFO marks a significant leadership shift at Sterling and Wilson Renewable Energy Limited. His expertise is expected to drive the company’s financial strategy and operational efficiency.

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.

 

Ola Electric Shares in Focus On Dispute Settlement With Rosmerta Group

Ola Electric Mobility Ltd.’s share price is in focus as it settled all outstanding dues with Rosmerta Group, bringing an end to the legal proceedings between the two entities. The resolution involves Ola Electric’s wholly owned subsidiary, Ola Electric Technologies Pvt. Ltd., and follows a petition filed by Rosmerta under Section 9 of the Insolvency and Bankruptcy Code, 2016.

As of 10:40 AM on March 25, 2025, Ola Electric Mobility Ltd.’s shares were trading at ₹55.53, down ₹1.00 or 1.79% for the day. Over the past six months, the stock has declined by approximately 2%. The company’s market capitalisation stood at ₹24,100 crore.

Ola Paid ₹26.75 Crore 

Rosmerta confirmed the receipt of ₹26.75 crore from Ola Electric, which covers the entire claim raised before the National Company Law Tribunal (NCLT), Bengaluru. The group has filed a memorandum with the NCLT to withdraw its petitions. There are no pending claims or disputes between the companies as per the terms of the executed settlement agreement.

Background of the Dispute

Rosmerta Digital Services Ltd., which offers vehicle registration services and manufactures high-security number plates, filed the insolvency petition against Ola Electric Technologies, alleging non-payment of dues amounting to approximately ₹18-20 crore. The petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) against Ola Electric Technologies.

Regulatory Disclosure

On March 25, 2025, Ola Electric submitted a regulatory filing to both NSE and BSE, confirming the settlement and withdrawal of the insolvency petition. The disclosure mentioned that there are no further causes of action remaining between the parties. The company also uploaded the media statement and regulatory notice on its investor relations website.

Conclusion

With the settlement completed, Rosmerta Group is no longer pursuing legal action. The matter is considered closed, and the relationship between both parties is now governed by the terms of the settlement agreement​

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

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

IndusInd Bank Receives ₹30.15 Crore GST Penalty Order for Multiple Issues

IndusInd Bank Ltd has received a penalty order of ₹30.15 crore from the Joint Commissioner of CGST & Central Excise, Thane Commissionerate. The order was issued on March 24, 2025, under Section 122(1)(ii) of the CGST Act, 2017, citing various GST-related issues. The bank stated in a regulatory filing that it is evaluating legal options and may file an appeal against the order.

As of 10:51 AM on March 25, IndusInd Bank Ltd was trading at ₹644.15, down ₹25.30 or 3.78% for the day. Over the past month, the stock has declined by 37.72%, and it has fallen 55.25% over the last six months.

Nature of Action and Disclosure

The penalty is solely on account of GST-related matters. The bank has not disclosed specific details regarding the nature of the GST issues involved. As required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the disclosure was made to the stock exchanges and is also available on the bank’s official website.

The penalty amount is ₹30,15,18,000. The bank has not indicated any operational impact arising from the order. The financial implication is limited to the penalty amount.

Q3FY25Financials

For the third quarter, IndusInd Bank reported a net profit of ₹1,402.3 crore, compared to ₹2,301 crore in the same quarter last year. This marks a year-on-year decline of 39%.

Net Interest Income (NII) stood at ₹5,228.1 crore, down 1.3% from ₹5,295.6 crore in the corresponding quarter of the previous year.

Asset Quality 

The bank reported an increase in bad loans during the quarter. Gross Non-Performing Assets (GNPA) rose to ₹8,375.3 crore from ₹7,638.5 crore in the previous quarter. The GNPA ratio increased to 2.25%, compared to 2.11% in Q2 FY25.

Net Non-Performing Assets (NNPA) rose to ₹2,495.8 crore from ₹2,282 crore. The NNPA ratio increased to 0.68% from 0.64%.

Conclusion 

The bank has not indicated any immediate operational disruptions due to the penalty. However, it is currently assessing legal options and may choose to challenge the order. Further updates are expected through regulatory filings as the matter progresses.

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.

Hyundai Motor India Approves ₹694 Crore Investment for Tooling Centre

Hyundai Motor India Ltd. has approved an investment of ₹694 crore to set up a local tooling centre. According to a stock exchange filing on Monday, the facility will focus on the manufacturing of stamping tools and panel production for vehicles. The tooling centre is expected to support operations at the company’s existing Chennai plant and the upcoming manufacturing facility in Talegaon, near Pune.

As of 10:30 AM on March 25, shares of Hyundai Motor India were trading at ₹1,733.30, down ₹25.70 or 1.46% for the day, but up 8.37% over the past five days and down 4.74% over the last six months.

Talegaon Plant to Expand Production 

The Talegaon plant is scheduled to begin operations later in 2025. Once functional, Hyundai’s total annual production capacity in India will increase from 900,000 units to 1.1 million units. The local tooling facility is for stabilising the supply chain and improving production timelines by enabling the in-house development of vehicle components.

Price Hike Announced for April 2025

Last week, Hyundai announced a price hike of up to 3%, effective April 1, 2025. The price increase will vary across different models and variants. The company cited rising input costs, commodity prices, and operational expenses as key reasons for the adjustment. This will be the second price hike of the year. In January 2025, prices were raised by up to ₹25,000 across various models.

Q3 Financial Results

For the quarter ended December 31, 2024, Hyundai Motor India reported a 19% year-on-year decline in consolidated net profit at ₹1,124 crore, compared to ₹1,425 crore in the same quarter of the previous year. Consolidated revenue from operations stood at ₹16,648 crore, down from ₹16,875 crore in the corresponding period last year.

Sales and Exports

In Q3 FY25, Hyundai sold a total of 186,408 passenger vehicles. Of these, 146,022 units were sold in the domestic market. Export volumes for the quarter stood at 40,386 units. The company recorded a CNG penetration of 15%, up from 12% in the previous year. Rural penetration increased to 21.2%, from 19.7% year-on-year.

Conclusion

The tooling centre adds to Hyundai’s ongoing production plans in India, with a focus on increasing local output and meeting demand. It comes at a time when the company is adjusting prices and production targets while managing shifts in sales and profit.

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.

Banks Stay Cautious on FCNR Deposit Rates Despite RBI Relaxation

Foreign Currency Non-Resident (FCNR-B) deposits have seen limited inflows even after the Reserve Bank of India (RBI) allowed banks to raise deposit rates by up to 150 basis points in December 2024. This was aimed at improving foreign currency inflows, with the relaxation in place until March 31, 2025. However, banks reported just $58 million in FCNR-B inflows for December. 

Combined inflows for December and January stood at $612 million, compared to $960 million in the previous two months. Inflows peaked at $1.876 billion in September 2024.

Global Borrowings Remain Cheaper

Many banks are opting for foreign currency funds through syndication loans and other overseas borrowings, which are currently more cost-effective than raising FCNR-B deposits. Softening interest rates in global markets have made these funding routes more accessible. 

As a result, banks are not increasing FCNR-B rates aggressively, despite the RBI’s temporary relaxation.

Limited Change in FCNR-B Rates

Some banks have left their FCNR-B deposit rates unchanged for several months. For instance, Indian Overseas Bank has not revised its rates since October 2024. CSB Bank also confirmed that its existing inflows are sufficient to meet foreign currency lending requirements, so there has been no immediate need to revise rates upward.

Flat Demand for Foreign Currency Loans

The demand for foreign currency loans within India has remained largely unchanged. This has further reduced the incentive for banks to increase deposit rates to attract additional foreign currency funds. Institutions like Karur Vysya Bank have indicated a preference for more cost-effective sources of capital, given the stagnant demand.

Selective Use of FCNR Deposits

Some banks are seeing continued interest from existing customers who use FCNR-B accounts as a hedge against currency risk. However, this interest has not translated into higher deposit rates or significant changes in overall strategy.

Conclusion

Banks are to continue with a cautious approach unless there is a notable shift in global rates or domestic demand for foreign currency credit.

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.

EPFO and ESIC to Conduct Nidhi Apke Nikat 2.0 on March 27

The Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) are launching another edition of Nidhi Apke Nikat 2.0, a nationwide outreach programme. This initiative aims to directly engage with stakeholders and address their grievances efficiently, ensuring seamless support for employees, employers, and pensioners.

Nationwide Outreach for Grievance Redressal

The Employees Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) are jointly organising Nidhi Apke Nikat 2.0, an outreach programme aimed at addressing the grievances of their stakeholders. This initiative seeks to reach every district across the country, ensuring accessibility for EPF members, ESI-insured persons (IPs), employers, pensioners, and trade unions.

Event Details and Participation

The programme will take place on 27th March at three locations:

  • Coimbatore – No 91, SIDCO Kurichi Industrial Estate, First Floor, near IOB
  • Udumalpet – VAV International School, Dhali Road, Elayamuthur Pirivu
  • The Nilgiris – Doddabetta Tea Factory, Doddabetta Road, Mel Kodappamund, Udhagamandalam

Stakeholders can visit the nearest venue between 10:30 a.m. and 12:30 p.m. to seek resolution for their concerns. Individuals must carry relevant details such as their UAN, PF account number, PPO number, or IP number for effective grievance redressal. Complaints related to EPFO can also be sent via email to pghs.rocbe@epfindia.gov.in, while ESIC grievances can be shared at benefit-srkovai@esic.nic.in.

Conclusion

This initiative reinforces EPFO and ESIC’s commitment to resolving stakeholder concerns efficiently. By ensuring widespread accessibility, Nidhi Apke Nikat 2.0 continues to strengthen engagement and support for employees and employers alike.

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. 

Mahila Samman Savings Scheme: Now Account Holders Can Early Withdrawal 40% Of Savings

The Department of Posts has introduced a new withdrawal feature under the Mahila Samman Savings Scheme (MSSC). As per an official directive issued on March 7, 2025, account holders can now withdraw up to 40% of their total deposit before the scheme’s maturity. This functionality is now active through the India Post Finacle system.

Withdrawal Procedure

To withdraw funds, account holders are required to visit the post office where their MSSC account is maintained. A withdrawal request form must be filled out and submitted along with valid identification proof. The Finacle system will process the request and calculate interest up to the last quarterly interest due date. Once processed, the withdrawn amount will be transferred to the account holder’s linked bank account.

Scheme Details

The Mahila Samman Savings Scheme was launched on April 1, 2023, and is open for investments until March 31, 2025. It is available to women aged 18 years and above. Guardians can open accounts on behalf of minor girls. The scheme offers a fixed interest rate of 7.5% per annum, with a lock-in period of two years. 

The minimum deposit allowed is ₹1,000, and the maximum investment limit is ₹2 lakh per individual.

Offline Process

The investment and withdrawal processes for MSSC are completely offline. Investors must visit designated post offices or select banks to open an account or initiate any transactions. Digital onboarding is not available for this scheme.

Implementation Through Finacle

The 40% withdrawal feature is integrated into India Post’s Finacle system. This ensures automatic interest calculation based on the last quarterly due date. A Standard Operating Procedure (SOP) has been issued by the Department of Posts to guide officials on how to process these requests correctly.

Conclusion

The early withdrawal feature under MSSC became operational on March 7, 2025. As the final investment deadline approaches on March 31, 2025, eligible individuals may consider this update while managing their savings or planning future withdrawals.

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.

HSBC and Mirae Asset Mutual Fund Declare Income Distribution Across Schemes

Mutual fund houses HSBC and Mirae Asset have declared income distribution under the IDCW (Income Distribution cum Capital Withdrawal) option for several of their schemes. The record date for all declared distributions stands as March 25, 2025.

HSBC Mutual Fund

HSBC Mutual Fund has announced IDCW payouts under five of its mutual fund schemes, with differing distribution amounts for direct and regular plans. Here’s a breakdown of the income distribution per unit:

Scheme Name IDCW ( ₹/unit)
HSBC Aggressive Hybrid Direct-IDCW 0.240
HSBC Aggressive Hybrid-IDCW 0.210
HSBC Balanced Advantage Direct-IDCW 0.155
HSBC Balanced Advantage-IDCW 0.135
HSBC ELSS Tax Saver Direct-IDCW 2.000
HSBC ELSS Tax Saver-IDCW 1.500
HSBC Global Emerging Markets Direct-IDCW 0.900
HSBC Global Emerging Markets-IDCW 1.200
HSBC Large and Mid Cap Direct-IDCW 1.800
HSBC Large and Mid Cap Reg-IDCW 1.650

 

The HSBC ELSS Tax Saver Direct-IDCW offers the highest payout at  ₹2.00 per unit, followed by HSBC Large and Mid Cap Direct-IDCW at  ₹1.80. Regular plan holders across several schemes are receiving slightly lower amounts than direct plan investors.

Mirae Asset Mutual Fund

Mirae Asset Mutual Fund also rolled out IDCW declarations for three of its schemes under both direct and regular plans. Here’s what investors can expect:

Scheme Name IDCW ( ₹/unit)
Mirae Asset Healthcare Direct-IDCW 2.15
Mirae Asset Healthcare Reg-IDCW 1.90
Mirae Asset Aggressive Hybrid Direct-IDCW 1.65
Mirae Asset Aggressive Hybrid Reg-IDCW 1.35
Mirae Asset Equity Savings Direct-IDCW 1.15
Mirae Asset Equity Savings Reg-IDCW 1.05

The Mirae Asset Healthcare Direct-IDCW plan leads the payout list with  ₹2.15 per unit, while regular plan investors receive  ₹1.90 per unit.

Conclusion

With March 25, 2025, as the record date, both fund houses are offering timely income distributions to investors under the IDCW option. Investors looking for regular income or capital withdrawal opportunities can take note of these schemes and assess how they align with their investment goals.

Curious about your SBI SIP returns? Get accurate estimates of your investment growth using our SBI SIP Calculator and stay ahead of your financial 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.

NBCC Secures Two Work Orders Worth ₹658.43 Crore

NBCC (India) Limited has been awarded 2 major work orders worth approximately ₹658.43 crore. These projects, secured in the normal course of business, focus on urban revitalisation and infrastructure development in Uttarakhand and New Delhi.

Urban Redevelopment in Uttarakhand

The Uttarakhand Investment and Infrastructure Development Board (UIIDB) has entrusted NBCC with key revitalisation projects amounting to ₹438.98 crore. These include:

  • Rodi Belwala Area Revitalisation
  • Sati Kund and Surrounding Development
  • Har Ki Pauri and Subhash Ghar Revitalisation
  • Redevelopment of Parking and Commercial Area at Upper Road, Haridwar

These projects aim to enhance tourism and public infrastructure in Haridwar.

Infrastructure Development in New Delhi

NBCC has also secured a Project Management Consultancy (PMC) contract from the Centre for Development of Telematics (C-DOT), valued at ₹219.45 crore. The project involves planning, supervision, and construction of:

  • Data Centre and Technical Block
  • Housing, Hostels, and Residential Buildings

This initiative will bolster India’s telecommunication research capabilities.

NBCC Share Performance 

As of March 25, 2025, at 1:10 PM, NBCC share price is trading at ₹83.08 per share, reflecting a decline of 2.67% from the previous closing price. Over the past month, the stock has surged by 5.55%.

Conclusion

NBCC’s latest contracts reaffirm its role in infrastructure development across India. The company continues to expand its portfolio with significant urban and technological projects.

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.

Kalpataru Projects Shares Surge On Securing Orders Worth ₹2,366 Crore

Kalpataru Projects International Ltd (KPIL) and its global subsidiaries have secured new orders amounting to approximately ₹2,366 crore. These orders span the company’s Transmission and Distribution (T&D) as well as Buildings and Factories (B&F) business segments.

As of 12:12 PM on 25 March, Kalpataru Projects International share price is trading at ₹1,005.00, up ₹24.60 (2.51%) for the day, showing a gain of 11.18% over the past month but a decline of 24.50% over the past six months.

Breakdown of New Orders

The T&D business has received contracts both in India and in overseas markets. Among these is a major order in the High Voltage Direct Current (HVDC) segment. In the B&F segment, the order is a repeat contract from an existing client based in India.

Cumulative Order Intake for FY25

Including these recent wins, KPIL’s total order intake for the current financial year (FY25) has reached ₹24,850 crore. These additions contribute to the company’s execution pipeline for upcoming quarters.

KPIL operates in over 75 countries and is currently executing projects in more than 30. The company works across several verticals, including power transmission, buildings and factories, railways, oil and gas, water supply, highways, airports, and urban mobility.

Q3 FY25 Financial Highlights

In the third quarter of FY25, KPIL recorded a consolidated net profit of ₹141.96 crore, a 0.7% increase year-on-year. Net sales for the quarter stood at ₹5,732.48 crore, up 17.1% compared to the same period last year.

Conclusion

The new orders add to KPIL’s project pipeline and expand its footprint in both existing and new geographies. Execution timelines, delivery performance, and sector-specific developments will determine how these additions impact upcoming quarters.

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.