ICICI Securities Ltd officially ceased trading on March 24, 2025, the record date marking the implementation of a scheme of arrangement between ICICI Securities, its shareholders, and its parent company, ICICI Bank Ltd. This delisting follows the announcement of the merger on 29 June 2023.

Under the merger agreement, shareholders of ICICI Securities are to receive 67 shares of ICICI Bank for every 100 shares held in the broking firm, reflecting a 67:100 swap ratio. The final regulatory approvals for this transaction were obtained from the Ahmedabad and Mumbai benches.

On the last trading day before delisting—Friday, 21 March 2025—the share price of ICICI Securities closed at ₹896.20 apiece.

The Listing Strategy: A Capital Management Move

Approximately 8 years ago, ICICI Bank had adopted a strategy of listing its key subsidiaries. This was primarily driven by the need to strengthen its capital base amid rising non-performing assets and an unfavourable macroeconomic environment.

Although the listing of subsidiaries like ICICI Securities was already on the agenda, the deteriorating state of ICICI Bank’s balance sheet at the time fast-tracked the process. ICICI Securities eventually went public in April 2018.

Why is ICICI Securities Delisting Now?

The decision to delist ICICI Securities comes as ICICI Bank realigns its operational strategy. The bank highlighted that the securities broking industry is inherently cyclical, significantly influenced by macroeconomic trends and the performance of equity markets.

As per a report, one of the key reasons for the delisting is the overlap in business functions between the bank and its broking subsidiary. This merger aims to streamline operations and eliminate redundancies.

Interestingly, despite the merger, ICICI Securities has maintained adequate internal accruals and requires minimal capital for expansion, reflecting its self-sustaining business model.

Merger Ratio and Implications for Shareholders

Under the terms of the merger, ICICI Securities shareholders will receive 0.67 shares of ICICI Bank for every one share they hold. This ratio was set to ensure a fair valuation for investors of both entities.

Conclusion

While the merger marks the end of ICICI Securities as an independently listed entity, it also reflects a strategic move by ICICI Bank to consolidate and optimise group operations amid an evolving financial services landscape.

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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. 

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

RailTel Corporation of India has witnessed a sharp rally in its stock price following a significant order win. However, despite this short-term surge, the company has faced considerable volatility over the past 6 months.

Stock Performance and Recent Movement 

RailTel Corporation of India saw its shares climb 10% to ₹339 on 24 March after securing a ₹25.15 crore order from Hindustan Petroleum Corporation (HPCL). Despite this rally, the railway PSU has faced a challenging 6 months, plunging over 28%, while the Nifty 50 declined 9% during the same period. 

At its record high, RailTel’s stock had soared more than 6.5 times its IPO price of ₹94, but later dropped sharply, hitting a recent low of ₹265 on 3 March, a 57% decline from its peak.

The newly awarded contract spans 5 years, covering the renewal of existing MPLS and ILL links, alongside the addition of new connections based on feasibility. The contract period runs from 1 April 2025 to 31 March 2030. This follows RailTel’s recent ₹16.89 crore work order from the Ministry of Defence for optical fibre cable (OFC) laying.

Financial Performance 

In Q3FY25, RailTel reported a 5% year-on-year increase in net profit, reaching ₹65 crore. Revenue rose 15% YoY to Rs 768 crore, but EBITDA declined 6.6% YoY to ₹121 crore, compared to ₹129.7 crore in Q3FY24. This resulted in an EBITDA margin contraction to 15.8% from 19.4% in the previous year’s quarter.

Conclusion

RailTel’s recent contract wins highlight its growth prospects, yet the stock has witnessed significant volatility. While financial performance shows a mixed trend, investor sentiment remains cautious.

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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. 

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

Welspun Corp Limited has announced that its board, in a meeting held on March 21, 2025, approved the voluntary delisting of its equity shares from the Calcutta Stock Exchange (CSE). The decision was made under Regulation 6 of the SEBI (Delisting of Equity Shares) Regulations, 2021, which allows companies to delist without providing an exit opportunity if the exchange has no active trading platform. 

The company stated that shareholders will not be affected by this move.

Shares to Remain Listed on NSE and BSE

Despite the delisting from CSE, Welspun Corp will continue to remain listed on the National Stock Exchange (NSE) and BSE Limited. Both exchanges have nationwide trading terminals, providing continued access for investors.

Transaction and Fund Utilisation

Welspun Corp recently completed the sale of a 74% equity stake in its wholly-owned subsidiary, Nauyaan Shipyard Pvt Ltd (NSPL). The company received a total of ₹476.39 crore from the transaction, of which ₹382.73 crore was for equity and ₹93.66 crore for dues. Following the sale, NSPL ceased to be a subsidiary and was reclassified as an associate company.

Debt Repayment Plan

The company plans to use the cash received from the NSPL transaction along with treasury reserves to reduce its debt. As of now, ₹725 crore has already been prepaid. Welspun Corp has set a target to prepay a total of ₹1,000 crore in debt by March 31, 2025.

Share Price Performance 

On March 24, 2025, Welspun Corp shares reached a 52-week high of ₹900. At 9:18 AM, the stock was trading at ₹898.20 on the BSE, up 2.12%. The company’s share price has risen 74% over the past nine months. Current market capitalisation stands at ₹23,564.22 crore.

Conclusion

Shareholders do not require an exit opportunity due to CSE’s absence of an active trading platform. The company assures that this decision will not impact investors, as their shares will continue to trade on the BSE and NSE, ensuring nationwide accessibility.

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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. 

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

Power Mech Projects Ltd has received a work order worth ₹579 crore (excluding GST) from Bharat Heavy Electricals Limited (BHEL). The order involves civil, structural, and architectural works for the 2×800 MW DVC Koderma Thermal Power Station (KTPS) Phase-II project in Jharkhand.

As of 12:35 PM on March 24, shares of Power Mech Projects Ltd were trading at ₹2,517.15, up 15.99%, while Bharat Heavy Electricals Ltd was trading at ₹218.16, up 2.93%.

Scope of Work

The contract includes levelling and grading the entire power block area, covering units such as the powerhouse, boiler, ESP, mill, bunker, transformer yard, and flue gas desulphurisation (FGD) unit. Other components include the construction of foundations for fans, chimneys, cooling water pits, turbine generators, and more.

Additional work covers paving roads and walkways, constructing service buildings with parking, and providing infrastructure for compressors, DG sets, CST pump houses, and MRS units. Installation of AC and ventilation ducting, fire protection systems, fencing between the existing and new stations, and development of a customer office are also part of the project.

Utilities

The project also includes setting up restrooms for operation and maintenance (O&M) staff, temporary sheds for construction workers, and leasing land for labour huts. Civil work for sewage lines, low-pressure piping, and fire-fighting systems will also be carried out within the power block and BTG (boiler, turbine, generator) areas. Foundations for rooftop solar systems, switchyard development, pipe racks, and cable racks are also planned.

The duration for completing the contract is 32 months from the date of the Letter of Award (LOA).

Q3 Highlights 

As of December 2024, the company reported an order book of ₹4,242 crore. In Q3 FY24, revenue stood at ₹1,338 crore, up 20.8% year-on-year, while net profit rose 33.3% to ₹82 crore. EBITDA grew to ₹150.9 crore, though the EBITDA margin declined to 11.3% from 12.1% a year ago.

Conclusion

Power Mech Projects Ltd.’s significant work order of ₹579 crore from BHEL for the DVC Koderma Thermal Power Station Phase-II project in Jharkhand represents a substantial boost to its order book and reinforces its position as a key player in the infrastructure and power sector.

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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. 

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

According to news reports, IndusInd Bank has engaged Grant Thornton to conduct a forensic review following recent accounting discrepancies. The review aims to determine the root cause, assess compliance issues, and investigate potential fraud.

Forensic Audit to Uncover Lapses

The lender, India’s fifth-largest private bank with a $63 billion balance sheet, recently disclosed an overvaluation of its derivatives portfolio by 2.35%, amounting to $175 million. This discrepancy resulted from non-compliant internal trades and violated Reserve Bank of India (RBI) regulations. Despite this, the RBI has affirmed the bank’s strong capital position.

On Thursday, IndusInd informed stock exchanges about appointing an external firm to identify deficiencies, but it did not explicitly mention an investigation into possible fraud. However, 2 sources confirmed that Grant Thornton has been tasked with conducting an extensive forensic review, including identifying potential fraudulent transactions and internal misstatements.

Leadership Uncertainty and Regulatory Oversight

Grant Thornton will also assess accountability within the organisation and review the accounting treatment of all derivative contracts. The firm is expected to determine whether any misstatements were intentional and assign responsibility to those involved.

Meanwhile, regulatory pressure mounts on IndusInd’s leadership. Last week, reports suggested that the RBI urged the bank’s CEO and deputy to step down once replacements are identified. IndusInd, however, has strongly refuted these claims, calling them “factually incorrect.”

IndusInd Bank Share Performance 

As of March 24, 2025, at 3:20 PM, IndusInd Bank share price is trading at ₹668.00 per share, reflecting a surge of 2.75% from the previous closing price.

Conclusion

IndusInd Bank’s move to appoint Grant Thornton signals its commitment to addressing accounting irregularities. As the forensic audit progresses, its findings could have significant implications for the bank’s management and regulatory standing.

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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. 

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

In a significant move towards greener supply chain solutions, DP World and Reliance Industries Limited (RIL) have jointly introduced a rail-based logistics service aimed at the petrochemical sector. This initiative seeks to reduce road transport dependency and improve environmental sustainability, aligning with the broader industry push towards decarbonisation.

From Road to Rail: Redefining the Jamnagar-Mundra corridor

Traditionally, the transport of petrochemical products from RIL’s Jamnagar plant to the Mundra Port involved a 700-kilometre round trip by road per container. The new integrated rail solution connects Jamnagar to DP World’s Inland Container Depot (ICD) in Ahmedabad, with continued connectivity to the Mundra Port via rail. This transition maintains logistical efficiency while substantially reducing the environmental footprint.

Logistics Reimagined: Enhanced capacity and Reduced Emissions

The rail-based service consolidates 45 containers into a single movement, enabling the transport of up to 1,260 tonnes of cargo at once. This reduces reliance on individual road trailers, cutting more than 700 kilometres of road transport per container. As a result, carbon emissions are significantly lowered, reinforcing RIL’s commitment to sustainable practices.

Leadership Comments: Sustainability and Efficiency 

Mr Ganesh Raj, Chief Operating Officer, DP World Marine Services Global, emphasised that the initiative aligns closely with Reliance’s environmental goals. He noted the improved coordination, enhanced efficiency, and timely export capabilities that the integrated rail service offers.

Similarly, Mr Ravikumar Nair, Head of Petrochemical Supply Chain Management (SCM) Operations at RIL, highlighted that shifting from road to rail has streamlined operations, eliminated the need for 45 trailer movements, and sharply cut emissions. This, he said, is a tangible step towards a greener and more efficient supply chain.

Market Movement: RIL share price reacts

Reliance Industries’ share price was trading 1.76% higher at ₹1,299 as of 11:09 AM on 24 March 2025. 

Conclusion: A Step Towards Greener Logistics

The collaboration between DP World and RIL illustrates how strategic partnerships can drive meaningful change in industrial logistics. 

By leveraging rail infrastructure, this model not only advances environmental goals but also provides an efficient and scalable alternative to long-haul road transport. It sets a strong precedent for other industrial players looking to integrate sustainability into their supply chain operations.

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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. 

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

NCC Limited, a leading construction and infrastructure company, has received a Letter of Acceptance (LoA) from Bihar Medical Services & Infrastructure Corporation Limited (BMSICL) for the redevelopment of Darbhanga Medical College & Hospital (DMCH) at Laheriasarai, Darbhanga. 

Project Details  

The project entails the redevelopment of the existing medical college, hospital and other buildings at the DMCH campus. The construction is scheduled to be completed within 42 months, followed by a Defects Liability Period (DLP) of 36 months. The contract is valued at ₹1,480.34 crores, excluding GST.  

Contractual and Financial Information  

This significant contract, classified as a “Major Order” as per the company’s policy for orders above ₹1,000 crores, was awarded by a domestic entity. There is no involvement or interest from the company’s promoter group, and it does not fall under related party transactions.  

About NCC Ltd

Founded in 1978 as Nagarjuna Construction Company, NCC Ltd. is a leading Indian construction and infrastructure company headquartered in Hyderabad. With expertise in sectors like buildings, transportation, water management, mining and railways, the company has completed significant projects such as AIIMS hospitals and the Nagpur-Mumbai Expressway. NCC’s growth and diversification have made it a prominent player in the industry with a pan-India presence.

Share performance 

As of March 24, 2025, at 1:45 PM, the shares of NCC Ltd are trading at ₹208.59 per share, reflecting a surge of 1.24% from the previous day’s closing price. Over the past month, the stock has registered a profit of 12.48%. The stock’s 52-week high stands at ₹364.50 per share, while its low is ₹170.05 per share.

Conclusion

Securing this substantial contract strengthens NCC Limited’s reputation as a trusted player in infrastructure development. The successful execution of the project will likely enhance healthcare infrastructure in the region while contributing positively to the company’s financial growth and market presence.

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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. 

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

Apollo Healthco Limited (AHL), a crucial arm of Apollo Hospitals Enterprise Limited, has successfully concluded its acquisition of a stake in Keimed Private Limited. This strategic move is expected to strengthen Apollo’s presence in the healthcare distribution sector.

Overview of the Transaction  

Apollo Healthco Limited (AHL), a significant subsidiary of Apollo Hospitals Enterprise Limited (the Company), has completed the acquisition of shares in Keimed Private Limited. This transaction was carried out in two parts as outlined in the agreement dated April 26, 2024. The deal involved purchasing shares from Ms Shobana Kamineni, a promoter and related party of AHL and making a primary investment in Keimed.

Details of the Acquisition  

AHL acquired a total of 11.2% of Keimed’s issued and paid-up share capital on a fully diluted basis. The transaction was split into two tranches:  

• The purchase of shares from Ms. Shobana Kamineni amounted to  ₹625.43 crores.  
• A primary investment of ₹99.99 crores was made by AHL into Keimed.  

About Apollo Hospitals 

Apollo Hospitals, founded by Dr. Prathap C Reddy in 1983, is a leading healthcare network in India known for its extensive services, including routine wellness, advanced treatments and diagnostic care. With over 73 hospitals, 5,000 pharmacies, and 1,100 diagnostic centers, Apollo serves patients globally and has impacted over 200 million lives from 120+ countries. Headquartered in Chennai, it is recognized for its quality standards, international accreditation and strong financial performance.

Share performance 

As of March 24, 2025, at 2:05 PM, the Apollo Hospitals Enterprise share price is trading at ₹6,650 per share, reflecting a surge of 0.58% from the previous day’s closing price. Over the past month, the stock has registered a profit of 6.38%. The stock’s 52-week high stands at ₹7,545.35 per share, while its low is ₹5,693.20 per share.

Conclusion

Apollo Healthco’s acquisition of a stake in Keimed strengthens its position in the healthcare distribution market, reflecting its commitment to growth and expansion.

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.