Bajel Projects Receives Large EPC Order From MPPTCL in Bhopal

Today, on March 25, 2025, Bajel Projects Limited informed the stock exchanges that it has received a large EPC (Engineering, Procurement and Construction) contract from Madhya Pradesh Power Transmission Corporation Limited (MPPTCL). The order is related to the construction of 132kV transmission infrastructure for the Bhopal Metro Rail Project.

As of 12:32 PM on March 25, 2025, Bajel Projects share price is trading at ₹177.59, up 0.82% for the day, 6.09% over the past 5 days, and 29.68% in the last 6 months.

Scope of Work

The contract includes the supply of materials and the full construction of 132kV DCDS (Double Circuit Double String) overhead and underground transmission lines. These will run from the 220kV Bairagarh Substation to RSS Karond, and from the 220kV Adampur Substation to RSS Ratnagiri Tiraha.

The work also involves the installation of 132kV feeder bays, switchyards, and 220kV, 160 MVA power transformers at the respective substations.

Timeline and Classification

The project is expected to be completed within 24 months from the date of the Notification of the Award. It has been classified as a “Large” order by the company, which means the contract value falls in the range of ₹100 crore to ₹200 crore, inclusive of GST, as per Bajel’s internal classification system.

The contract has been awarded by a domestic entity – MPPTCL. It is a domestic EPC order related to power transmission infrastructure.

Disclosure Details

The company confirmed that the order does not involve any related party transactions. None of the promoter, promoter group, or group companies of Bajel Projects has any interest in the entity that awarded the contract.

There has been no analyst view or commentary provided in relation to this development as of now.

Conclusion

This significant EPC win from MPPTCL further strengthens Bajel Projects Limited’s order book and demonstrates its continued traction in the power infrastructure 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.

MSMEs Can Now Access Loans Up to ₹10 Crore with Digital Footprint Model

The Indian government has urged public sector banks (PSBs) to expand their digital footprint-based credit assessment model for micro, small, and medium enterprises (MSMEs). This initiative aims to streamline credit flow and reduce dependency on traditional asset-based evaluations.

Expansion of Digital Credit Model for MSMEs

On March 6, a new credit assessment model was introduced to evaluate MSMEs based on their digital footprints, including GST payment data, cash flow, and electricity bills. Public sector banks have developed in-house capabilities to assess creditworthiness, eliminating the need for external assessments.

The State Bank of India (SBI) is now offering MSME loans up to ₹5 crore through this model, while other PSBs are processing loans between ₹25 lakh and ₹2 crore. An official stated, “We are trying to push a little larger customers also to come into this net. Over the next one or two years, PSBs should be doing loans up to ₹10 crore for MSMEs based on their digital footprint.” The finance ministry will monitor the percentage of loans disbursed through this system and refine it based on customer feedback.

Challenges and Adaptations in Implementation

Challenges remain, especially with partnership accounts, as the account aggregator system currently supports only proprietorship accounts. “So, we are asking RBI to come up with some solution that accounts aggregator enables multiple signatory accounts,” the official said. To address this, banks are allowing MSMEs to upload PDFs for verification, which are checked automatically.

Additionally, Income Tax Return (ITR) verification is not fully automated, but most banks have temporarily waived this requirement. Despite these hurdles, the new model is expected to improve credit access for MSMEs, especially those without formal accounting systems.

Conclusion

The digital footprint-based credit assessment model is set to enhance MSME financing by reducing manual intervention and improving credit accessibility. With an estimated credit gap of ₹15 lakh crore to ₹45 lakh crore, this initiative aims to bridge the financial divide and support business growth.

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. 

SBI Life Insurance Gets ₹352.50 Crore Tax Demand from Income Tax Department

SBI Life Insurance Company Ltd has received an Income Tax Order from the Faceless Assessment Unit for the Assessment Year 2023-24 (FY 2022-23), raising a tax demand of ₹352.50 crore along with ₹78.50 crore in interest. The company has stated that it will contest the demand through an appeal.

Tax Demand and Basis of Dispute

On March 24, 2025, at 12:28 pm, SBI Life received an Income Tax Order from the Faceless Assessment Unit of the Income Tax Department. The demand includes ₹352.50 crore in tax and ₹78.50 crore in interest, with no penalty imposed.

 

The company attributed the demand to an incorrect enhancement of policyholder and shareholder income, arising from the addition of allowable expenses and exemptions. Additionally, it stated that the assessment applied a 30% corporate tax rate instead of the 12.5% special tax rate for life insurance companies under Section 115B of the Income Tax Act, 1961.

Company’s Response and Future Action

SBI Life Insurance has emphasised that the tax order will not have any material adverse impact on its financial operations. The company intends to challenge the demand by filing an appeal before the Appellate Authority within the stipulated time frame.

 

“The aforesaid Income Tax Order will have no adverse material impact on the financial operations of the company and the same shall be contested by the company by way of an appeal before the Appellate Authority in accordance with the applicable provisions under the Income Tax Act, 1961,” SBI Life stated in its stock exchange filing.

SBI Life Insurance Share Performance 

As of March 25, 2025, at 9:35 AM, SBI Life Insurance share price is trading at ₹1,565.70 per share, reflecting a decline of 0.26% from the previous day’s closing price. Over the past month, the stock has registered a profit of 6.38%.

Conclusion

SBI Life Insurance is confident that the tax order is based on incorrect calculations and intends to seek redress through the legal process. Despite the substantial demand, the company has assured stakeholders that its financial stability remains unaffected.

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 to Form High-Level Panel for Reviewing Conflict of Interest and Disclosure Norms

The Securities and Exchange Board of India (SEBI) has announced the formation of a high-level committee to review conflict of interest regulations and disclosure norms related to property, investments, and liabilities of its board members and officials. The committee will present its recommendations within three months for SEBI’s consideration.

Committee Formation and Composition

SEBI Chairperson Tuhin Kanta Pandey revealed that the committee will comprise experts from diverse fields, including regulatory institutions, government roles, the private sector, academia, and constitutional or statutory bodies. While the names of the members are yet to be disclosed, the committee’s primary responsibility is to evaluate the existing framework and suggest improvements to enhance transparency and ethical governance.

Objectives and Expected Impact

The committee’s focus is on strengthening measures to prevent conflicts of interest and improve disclosure standards within SEBI. By reviewing current regulations and proposing enhancements, the initiative aims to reinforce accountability and trust in the regulatory body’s governance. The recommendations will be assessed by SEBI’s board before implementation.

Conclusion

SEBI’s decision to establish this committee underscores its commitment to ethical conduct and governance reforms. By enhancing disclosure norms and conflict of interest regulations, the regulatory body aims to uphold transparency and integrity among its members.

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.

RVNL Share Price in Focus As It Secures Key Railway Electrification Project Worth ₹115.79 crore

Rail Vikas Nigam Limited (RVNL) has been awarded a crucial railway electrification contract after emerging as the lowest bidder (L1). This project, undertaken in collaboration with Central Railway, is part of India’s ongoing infrastructure modernisation efforts.

Project Overview and Scope

RVNL secured the contract for Overhead Equipment (OHE) modification work, upgrading the existing 1×25 KV traction system to 2×25 KV in the Itarsi-Amla section of Central Railway’s Nagpur division. This enhancement aims to support a 3000 MT freight loading target, contributing to improved efficiency and capacity in railway operations. The total cost of work is over ₹115 crores, and the project completion time is 24 months.

Significance of the Contract

Winning this bid reinforces RVNL’s strong position in India’s railway infrastructure sector. The project aligns with the government’s push for railway electrification, ensuring improved operational efficiency and reduced carbon footprint. It also highlights RVNL’s technical expertise and ability to execute large-scale electrification projects.

RVNL Share Performance 

As of March 25, 2025, at 10:05 AM, RVNL share price is trading at ₹376.35 per share, reflecting an upside of 1.29% from the previous closing price. Over the past month, the stock has surged by 3.54%.

Conclusion

RVNL’s selection as the lowest bidder for this critical railway electrification project strengthens its reputation as a key infrastructure player. The successful execution of this project will contribute to India’s growing railway network and freight 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.

SEAMEC Wins $5.61 Million ONGC Subcontract for Pipeline and Offshore Work

Seamec Limited has signed a subcontract agreement with Posh India Offshore Private Limited for specific installation works under major ONGC projects. This partnership is a part of the company’s ongoing efforts to expand its business operations.

Agreement Overview  

Seamec Limited has entered into a subcontract agreement with Posh India Offshore Private Limited to carry out riser clamps, bow string and other installation work. These tasks are part of the Pipeline Replacement Project VIII (PRP-VIII Group B) and the Daman Upside Development Project (DUDP) for ONGC. The agreement operates on a unit-rate basis, which means payment will be made based on the quantity of work completed.  

Financial Details  

The estimated total value of the subcontract is approximately $5.61 million, excluding GST. This value is based on the maximum indicated quantity of the scope of work.  

About Seamec Limited

Seamec Limited, part of the MM Agrawal Group, is an established player in offshore oilfield services and bulk carrier chartering. Incorporated in 1986, the company operates multi-support vessels for diving support, subsea operations and EPC infrastructure projects across India and internationally. With a presence in regions like the Middle East, Southeast Asia, West Africa and the Gulf of Mexico, the company owns a diverse fleet including diving support vessels and a bulk carrier.

Share performance 

As of March 25, 2025, at 10:00 AM, with a market capitalisation of ₹26.34 billion, Seamec share price is trading at ₹1,026.90 per share, reflecting a surge of 8.28% from the previous day’s closing price. Over the past month, the stock has registered a profit of 8.87%. The P/E ratio stands at 27.80. The stock’s 52-week high stands at ₹1,669.95 per share, while its low is ₹780.50 per share.

Conclusion

This subcontract strengthens Seamec’s portfolio in offshore installation projects and highlights its commitment to executing large-scale contracts effectively. The collaboration with Posh India Offshore aims to contribute to the successful completion of ONGC’s critical 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.

Interarch Building Solutions Signs MOU with Moldtek Technologies for Global Expansion

Interarch Building Solutions Limited has partnered with Moldtek Technologies Limited (MTTL) to expand its global presence. This collaboration is expected to enhance business opportunities in the international market for Pre-Engineered Metal Building (PEMB) and structural steel projects.

Partnership Details

Interarch has entered into a Memorandum of Understanding (MOU) with Moldtek Technologies Limited. As part of the agreement:

  • MTTL will provide engineering design and detailing services.  
  • Interarch will handle manufacturing, shipping, erection and related services.  
  • MTTL’s Atlanta office will be used for marketing purposes to attract international clients.

Terms of Agreement  

  • The agreement is initially valid for 2 years and extendable upon mutual agreement.  
  • Interarch will give MTTL a 5% commission on export orders that MTTL helps secure. This commission rate can be adjusted for specific projects if both companies agree.  
  • Both parties commit to working exclusively for projects introduced by MTTL, ensuring a dedicated partnership.  
  • Interarch cannot approach clients introduced by MTTL for similar services without prior written consent.

Purpose and Benefits

This partnership aims to combine MTTL’s engineering expertise with Interarch’s manufacturing skills to grow in global markets. The collaboration is expected to generate increased export orders and strengthen both companies’ positions in the international market.

About Interarch Building Solutions Ltd

Interarch Building Products Limited, founded in 1983, is a leading provider of pre-engineered steel construction solutions in India. With a strong manufacturing capacity, a pan-India presence and major clients like Tata, JSW, and Asian Paints, Interarch holds a notable market share. The company focuses on innovation, capacity expansion and long-term growth while maintaining a nearly debt-free status.

Share performance 

As of March 25, 2025, at 11:20 AM, the shares of Interarch Building Solutions Ltd are trading at ₹1,521.55 per share, reflecting a surge of 0.55% from the previous day’s closing price. Over the past month, the stock has registered a loss of 0.32%. 

Conclusion

This strategic collaboration aims to expand both companies’ global reach, strengthen their market presence and generate higher export orders through combined expertise.

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.

Tata AutoComp to Acquire IAC Sweden for European Expansion

Tata Group company Tata AutoComp Systems Ltd. has announced its decision to acquire International Automotive Components Group Sweden AB (IAC Sweden). The acquisition is to expand Tata AutoComp’s presence in Europe and strengthen relationships with Original Equipment Manufacturers (OEMs) in both the passenger and commercial vehicle segments. Financial terms of the deal have not been disclosed.

Background of IAC Sweden

IAC Sweden is a manufacturer of interior systems and components for the automotive sector. The company supplies parts such as door trims and panels and operates three manufacturing facilities located in Gothenburg, Skara, and Fargelanda. It has expertise in plastic molding, high-precision painting, and interior component assembly. IAC Sweden has a reported turnover of around $800 million.

Clients and Market Position

The company is a supplier to major Swedish automotive brands, including Volvo Cars, Volvo Trucks, and Scania. It filed for bankruptcy in June 2024 and was placed under the administration of a court-appointed official. 

At the time of acquisition, it was considered one of the largest bankruptcy cases in Sweden. Two companies had expressed interest in acquiring IAC Sweden before Tata AutoComp was selected.

Regulatory Process

The acquisition is subject to regulatory approvals in Europe. The company has confirmed that the process is ongoing and that it will proceed once all necessary clearances are obtained.

No timeline has been provided for when the deal is expected to close.

Statements from Tata AutoComp

In an official statement, Tata AutoComp Systems said the acquisition supports its broader plans for international expansion. The company also stated that this transaction aligns with its long-term goals in the European market. No forward-looking projections were provided.

Tata AutoComp Systems is part of the Tata Group and provides automotive products and services to OEMs and Tier 1 suppliers. With this acquisition, the company will increase its manufacturing and technology capabilities in Europe.

Conclusion

The deal moves forward under the oversight of European regulatory bodies. Until approvals are granted and the transaction is closed, operations at IAC Sweden continue under administration. What follows will depend on how both entities navigate the transition, within legal, operational, and labour frameworks across borders.

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.

Central Government Issues Notification on 24% Hike in MPs’ Pay and Perks

The Ministry of Parliamentary Affairs has officially notified a 24% increase in the salaries of Members of Parliament, effective from April 1, 2023. The revision is based on the Cost Inflation Index and marks the first hike since 2018.

Revised Salary Structure

With the updated structure, an MP’s monthly salary has increased from ₹1,00,000 to ₹1,24,000. This is the first revision since February 2018, when salaries were raised from ₹50,000 to ₹1,00,000. The current hike has been implemented retrospectively.

The constituency allowance has been revised to ₹87,000 per month, up from the earlier ₹70,000. Office expenses allowance has also been raised from ₹60,000 to ₹75,000 per month.

MPs are entitled to a daily allowance when attending Parliament sessions or committee meetings. This has now been revised from ₹2,000 to ₹2,500 per day.

Pension Revisions for Former MPs

For former MPs, the monthly pension has increased from ₹25,000 to ₹31,000. Additionally, for every year of service beyond 5 years, the additional pension has gone up from ₹2,000 to ₹2,500 per month.

Additional Perks 

MPs will receive 34 domestic air tickets per year, unlimited first-class train travel, and a road mileage allowance. They are also allotted 50,000 electricity units, 4,000 kilolitres of water annually, and official housing in Delhi or a housing allowance. An annual phone and internet allowance is also provided.

Background and Automatic Revision System

In 2018, the government amended the Salary, Allowances and Pension of Members of Parliament Act, 1954, through the Finance Act, 2018. This introduced a system for automatic revision of salaries and allowances every five years, linked to the Cost Inflation Index, eliminating the need for separate approvals or recommendations by MPs.

Earlier Salary Cuts During COVID-19

In 2020, during the COVID-19 pandemic, the government had announced a 30% cut in MPs’ and ministers’ salaries for one year as a cost-saving measure.

Conclusion

The revised salary and allowance structure will apply from April 1, 2023, as notified. All changes are inflation-indexed and follow the framework established in 2018 for automatic, periodic adjustments.

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.

Finance Bill 2025 Amendment: India Proposes to Scrap 6% Equalisation Levy on Online Ads

On March 24, 2025, the Indian government introduced a significant amendment to the Finance Bill 2025, proposing the removal of the 6% equalisation levy on online advertising services. Commonly referred to as the “Google Tax,” this levy was imposed on payments made to non-resident digital service providers for online advertisements accessed by Indian users.

If this proposal is passed by Parliament, the levy will cease to apply from April 1, 2025, potentially marking a crucial step in aligning India’s tax regime with global standards.

What Was the Equalisation Levy?

The equalisation levy was first introduced in 2016 to bring foreign digital service providers under India’s tax net. Initially targeted at online advertisements, it was expanded in 2020 to include a broader 2% levy on e-commerce transactions involving non-resident companies.

This move was intended to ensure fair taxation of revenues generated by foreign digital businesses from Indian users, particularly when these entities lacked a physical presence in the country.

Concerns and Global Pushback

India’s digital taxation measures have faced sustained criticism from the United States, whose technology companies such as Google and Meta were among the most affected. In 2021, the US Trade Representative (USTR) published a report labelling the equalisation levy as discriminatory, arguing it disproportionately impacted US-based digital firms.

Despite these objections, India defended the tax, asserting it was necessary to ensure equity in cross-border digital transactions and to prevent revenue leakage.

Policy Evolution and Gradual Rollback

The Indian government has, over time, recognised the complexities and international concerns associated with digital taxation. In the Union Budget 2024, a proposal was made to withdraw the 2% equalisation levy on e-commerce services, effective from August 1, 2024.

However, the 6% levy on online ads remained in force—until now.

The recent amendment to the Finance Bill 2025 appears to be a continuation of India’s phased approach to digital tax reforms, gradually moving towards a more standardised and globally acceptable framework.

Industry Implications

According to a report, India had introduced the concept of Significant Economic Presence (SEP) to target foreign digital companies, thereby building a comprehensive digital tax structure.

The removal of the 6% levy could reduce costs for Indian consumers and advertisers, and is likely to benefit multinational tech firms by removing an additional layer of tax compliance.

What Lies Ahead

While this amendment still awaits parliamentary approval, it reflects India’s intent to support a more harmonised global tax regime. The proposal may also strengthen India’s diplomatic position, showing goodwill in negotiations around international digital tax frameworks spearheaded by the OECD and G20 nations.

Conclusion

The removal of the 6% equalisation levy on online advertising, if enacted, would signal a major shift in India’s digital tax policy. As the country repositions itself in the evolving global digital economy, this move may pave the way for more balanced and collaborative taxation practices in the 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.