Trafiksol IPO: SAT Upheld SEBI’s Decision to Repay Investors’ Money

The Securities Appellate Tribunal (SAT) has upheld the order issued by the capital market regulator against the SME company Trafiksol ITS Technologies, directing it to refund investors money following its successful initial public offering (IPO).

SAT Decision on Trafiksol’s appeal

In a ruling issued on Tuesday, the appellate authority rejected the appeal filed by the company, stating that there was no merit in the case. It also affirmed that the Securities and Exchange Board of India (SEBI) had the authority to suspend the company’s listing and mandate the refund of all investor funds from the public issue.

The tribunal’s decision also criticized Trafiksol ITS Technologies for having “little regard for disclosure norms” and for disregarding the concerns of public shareholders, concluding that allowing the IPO to proceed at this stage would serve no beneficial public purpose.

Appeal by Trafiksol

Trafiksol’s appeal argued that the show cause notice issued by SEBI did not indicate that the IPO could be halted, claiming such an action went beyond the scope of the investigation.

On December 3, SEBI halted Trafiksol’s IPO and ordered a refund to investors following a probe prompted by a complaint about improper use of the issue proceeds and misleading disclosures.

In its draft red herring prospectus, Trafiksol had stated it planned to purchase an Integrated Software Control Centre (ICCC) from a third-party vendor to serve as the operational core for smart cities. However, after receiving concerns regarding the vendor’s viability, SEBI instructed BSE to investigate, which uncovered various issues.

SEBI’s order revealed that the third-party vendor appeared to be a shell company, and Trafiksol had provided inconsistent and conflicting explanations regarding its relationship with the vendor. The company failed to offer any credible justification for its actions. Despite these issues, the company’s IPO had been a major success, oversubscribed by 345%, with the listing scheduled for September 17 on the BSE.

 

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

ITC Hotels Share Listed at ₹188 Per Share on BSE

On January 29, 2025, ITC Hotels shares were listed on the BSE at ₹188 per share, reflecting a 30.37% discount to the discovered price of ₹270 per share. On the NSE, ITC Hotels shares were listed at ₹180 per share, which represented a 30.77% discount to the discovered price of ₹260 per share. ITC Hotels shares will be removed from the Nifty 50 and Sensex indices on the T+3 day, meaning three business days after the listing date.

ITC Demerger Ratio

The demerger ratio for ITC Hotels was set at 1:10. This means that for every 10 ITC shares held, shareholders received 1 ITC Hotels share. ITC Ltd, the parent company, will retain a 40% stake in ITC Hotels, while the remaining 60% will be distributed to the shareholders.

About ITC Hotels Limited

ITC Hotels is the demerged entity of ITC Ltd, a conglomerate known for its cigarettes and FMCG businesses. As of October 2024, ITC Hotels is one of the largest hotel companies in India, with 140 hotels and approximately 13,000 operating keys. The company aims to expand its portfolio to more than 200 hotels and over 18,000 keys by 2030.

Approximately 35% of ITC Hotels’ portfolio is owned by the company, while the remainder is managed through various models, including franchises.

In FY24, ITC Hotels saw significant growth, with its owned hotels experiencing a 20% YoY increase in Average Room Rate (ARR) and an 18% YoY increase in Revenue per Available Room (RevPAR). Occupancy levels stood at 69%. The company also boasts strong return ratios, with a Return on Capital Employed (RoCE) of around 20%.ITC Hotels is in a strong financial position, with a net cash surplus and negligible debt on its books.

 

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

Exide Industries Share Price Rose Over 4% After Release of Q3FY25 Results

On January 29, 2025, Exide Industries shares rose over 4%, reaching a day-high of ₹358.40, up from an opening price of ₹345.20. The surge in Exide Industries shares came after the company released its financial results for the quarter and nine-month period ending December 31, 2024.

Exide Industries Q3FY25 Earnings Overview

For Q3 FY25, Exide reported standalone revenues of ₹3,849 crore, slightly up from ₹3,841 crore in Q3 FY24. The company’s EBITDA margin expanded by 20 basis points year-on-year to 11.7%, compared to 11.5% in the same quarter last year. On a sequential basis, the margin improved by 40 basis points from 11.3% in Q2 FY25. For the first nine months of the financial year, EBITDA margin remained steady at 11.5%, compared to 11.3% in the same period the previous year, indicating consistent operating profitability.

Exide Business Highlights

Exide achieved double-digit growth in both the two-wheeler and four-wheeler replacement segments, driven by strong demand in the automotive aftermarket. The company also reported solid growth in its Solar business, benefiting from government incentives and various solarization programs. However, demand from automotive OEMs remained weak, leading to a decline in the Auto OEM segment’s performance.

The infrastructure sector continued to face challenges, with lower government spending and muted private capex impacting the overall market conditions. On a positive note, Exide’s automotive exports continued to perform well, benefiting from the success of its export-focused strategies, including a strengthened product portfolio and go-to-market approach.

Investment in Subsidiary

During the quarter, Exide invested nearly ₹400 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL). An additional ₹150 crore was invested in January 2025, bringing the total equity investment in EESL to ₹3,302.23 crore, including investments made in the previously merged subsidiary EEPL. At EESL’s site, construction is progressing with the setup of factory buildings and installation of production line equipment. The company is also making structured efforts to onboard customers across key end-consumer markets, further solidifying its position in the energy solutions 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 securities market are subject to market risks, read all the related documents carefully before investing.

BHEL Share Price Rose Over 4%: Rising PAT and Significant Order Book During Q3FY25

On January 29, 2025, BHEL shares surged over 4% in morning trade, reaching a day high of ₹196.10 after opening at ₹185.25. The gain in BHEL shares came after the release of Q3FY25 results, wherein it reported a remarkable over twofold increase in its consolidated net profit for the December quarter of 2024-25. The net profit surged to ₹134.70 crore, primarily driven by higher revenues. Total income for the quarter rose to ₹7,385 crore, up from ₹5,599.63 crore in the same period last year.

Revenue from Operations Breakdown by Segment:

  • The power segment contributed around 77% of the total revenue.
  • The industry segment accounted for approximately 23% of the revenue.

BHEL’s Order Book as of December 31, 2024

As of December 31, 2024, BHEL reported a total order book worth ₹1,60,157 crore. The breakdown is as follows:

  • Power segment: ₹1,21,413 crore (76% of the total order book)
  • Industry segment: ₹35,063 crore (22% of the total order book)
  • Export order book: ₹3,682 crore (2% of the total order book)

Prominent Orders Received in Q3FY25

Power Segment

  • BHEL emerged as the successful bidder for the main plant package for the 3×800 MW Telangana Stage-II supercritical thermal power plant.
  • The company also received a Limited Notice to Proceed (LNTP) from NTPC Ltd. for initiating basic engineering work.

Industry Segment

  • BHEL secured an order for the +/- 800 kV, 6000 MW Khavda-Nagpur LCC HVDC Terminal Stations, in partnership with Hitachi Energy India Ltd.
  • The company received an EPC order for a 765kV Air Insulated Substation Package, along with various substation extension orders for 400kV/765kV ratings.
  • BHEL secured an order for the supply of transformers from transmission companies.
  • The company also won an order for the supply and supervision of E&C for a 1x 80 MW STG from a chemical manufacturing company.
  • Another key order includes the supply of 689 traction motors and 27 sets of traction electrics for DETC from Indian Railways.
  • BHEL also received a development order for high-power Li-ion cells from the Vikram Sarabhai Space Centre.

Export Market

  • BHEL secured an order for the supply and supervision of a 95 MW generator from Russia.
  • The company also received an order for the supply of safety valves for a project in Costa Rica, marking its entry into the 91st country.

 

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

Balkrishna Industries Set Jan 30 As Record Date For Interim Dividend

The heavy equipment tyre manufacturer Balkrishna Industries has set Jan 30, 2025, as the record date for its interim dividend for FY25. On January 25, 2025, Balkrishna Industries declared its 3rd interim dividend of ₹4. The company further stated that the interim dividend be paid within 30 days of the date of declaration, i.e., January 25, 2025.

Balkrishna Industries Record Date: What This Means For Shareholders?

As Balkrishna Industries has set Jan 30 as the record date for its interim dividend, meaning that Jan 29, marks the last to buy Balkrishna Industries shares to become eligible for the interim dividend. Further, any shares bought on Jan 30 (record date), won’t be eligible for the interim dividend.

Balkrishna Industries Financial Resilience

Balkrishna Industries operates a resilient business model supported by gross Cash and Cash equivalents of Rs. 2,942 Cr as of December 31, 2024. The company is self-reliant in Carbon Black along with Multiple sourcing arrangements for other Raw Materials. Also, its diversified product portfolio, spread across Agriculture, Industrial, Construction, Earthmoving, Mining, Port, Lawn and Garden and ATV tyres helps the company to spread revenue stream. The company recorded a total achievable capacity of ~3,60,000 MT p.a

 

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

BPCL Shares to Trade Ex-Date on January 29: Interim Dividend of ₹5

On January 29, 2025, BPCL shares to trade ex-date, meaning that the shareholders registered in the company’s books will be eligible for the ₹5 interim dividend. On January 22, 2025, BPCL announced an interim dividend of ₹5.

BPCL Dividend History

Ex-Date Dividend Type Dividend Amount (₹)
Aug 09, 2024 Final 10.5
Dec 12, 2023 Interim 21
Aug 11, 2023 Final 4

BPCL Q3FY25 Operation Highlight 

In Q3FY25, refining throughput was 9.5 million metric tons (MMT), reflecting a 7.2% decrease quarter-on-quarter (QoQ). The reported gross refining margin (GRM) stood at US$5.6 per barrel (bbl), lower than the projected US$7.5/bbl. However, the GRM saw a 27% increase QoQ. Compared to the same period last year, GRM dropped by 58%. The average Singapore GRM for Q4-to-date has softened to around US$3/bbl due to a decline in product cracks. We expect the GRM to return to its long-term average of US$5-7/bbl in FY26/27. For FY25/26/27, we forecast GRM to be around US$5.7/6.6/bbl.

The majority of the capital expenditure (capex) will be spent in FY28, with an estimated total of ₹490 billion. BPCL has secured a ₹318 billion loan facility from a consortium of six banks. In Q3, BPCL processed 31% of Russian oil. While it has secured cargoes for January and February, there will be an insufficient supply for March due to US sanctions.

 

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.

 

Best ETFs in India For Feb 25 Based on 5Y CAGR: CPSE ETF, Bharat 22 ETF and More

In recent years, exchange-traded funds (ETFs) have gained significant popularity among Indian investors. With a more dynamic financial landscape and increased access to international markets, ETFs provide an affordable and straightforward way to build a diversified portfolio. They are favoured by both retail and institutional investors for their ability to track a variety of indices and asset classes, offering flexibility and liquidity.

As passive investing continues to rise in popularity, ETFs offer an efficient way to tap into a broad range of investment opportunities with lower costs and minimal effort compared to actively managed funds. In this blog, we’ll dive into the top-performing ETFs for February 2025.

What are ETFs?

An Exchange-Traded Fund (ETF) is a type of investment fund that can be bought and sold on a stock exchange, much like individual stocks. It usually consists of a mix of assets, including stocks, bonds, or commodities, and splits these holdings into shares that are available to investors. Designed to mirror the performance of a specific index, sector, or commodity, ETFs provide an easy way for investors to gain exposure to diverse markets or focus on particular areas of interest.

Best ETFs For Feb 2025 – Based on 5Y CAGR

Company Name Market Cap (In ₹ Crore) 5Y CAGR (%)
CPSE ETF 23,025.67 30.33
Motilal Oswal NASDAQ 100 ETF 3,724.73 26.68
Bharat 22 ETF 10,739.05 24.43
Nippon India ETF Junior BeES 1,901.11 16.61
ICICI Prudential Nifty 50 ETF 2,180.65 14.73

Note: The ETFs mentioned above have been selected based on 5Y CAGR as of January 28, 2025.

Overview of Best ETFs in India

CPSE ETF

The CPSE ETF (Central Public Sector Enterprises Exchange Traded Fund) is a government-backed fund that holds shares of several central public sector enterprises. This ETF allows investors to invest in leading PSUs, providing a mix of diversification and the potential for consistent returns..

Key Metrics

  • 1Y Return: 9.98%
  • Benchmark Index: Nifty CPSE Index

Motilal Oswal NASDAQ 100 ETF

Motilal Oswal NASDAQ 100 ETF seeks investment return that corresponds (before fees and expenses) generally to the performance of the NASDAQ-100 Index, subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved

Key Metrics

  • 1Y Return: 48.10%
  • Benchmark Index: Nifty 50 TRI

Bharat 22 ETF

The Bharat 22 ETF invests in the 22 companies that make up the S&P BSE Bharat 22 Index. The fund aims to deliver returns that closely mirror the total returns of the index, after expenses, and is exposed to market risks.

Key Metrics

  • 1Y Return: 5.08%
  • Benchmark Index: S&P BSE Bharat 22 Index

Nippon India ETF Junior BeES

Nippon India ETF Junior BeES seeks to provide returns that, before expenses, closely correspond to the returns of Securities as represented by Nifty Next 50 Index. There can be no assurance or guarantee that the investment objective of the Scheme will be achieved

Key Metrics

  • 1Y Return: 11.06%
  • Benchmark Index: Nifty Next 50 Index

ICICI Prudential Nifty 50 ETF

ICICI Prudential Nifty 50 ETF aims to provide returns before expenses that closely correspond to the total return of the Underlying Index, subject to tracking errors.

Key Metrics

  • 1Y Return: 6.45%
  • Benchmark Index: CNX NIFTY

Best ETFs For Feb 2025 – Based on Tracking Error

Company Name Market Cap (In ₹ Crore) Tracking Error
Nippon India ETF Junior BeES 1,901.11 0.09
CPSE ETF 23,025.67 0.08
Nippon India ETF Nifty Bank BeES 10,625.95 0.07
Kotak Nifty Bank ETF 8,642.35 0.07
Kotak Nifty 50 ETF 1,502.05 0.03

Conclusion

As the investment environment continues to change, ETFs provide a flexible and easy-to-use tool for those seeking exposure to broad market indices, specific sectors, or asset classes—without the need for individual stock picking or active management.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. 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 are subject to market risks, read all scheme-related documents carefully.

Mid-Day Top Gainers and Losers on January 28, 2025: Investors Riding on Banking Stocks

On January 28, 2025, as of 12:10 PM, the BSE Sensex was up by 1.07% at 76,160.57, while the Nifty 50 was up 0.85% at 23,022.10. The mid-day top gainers and losers for the day are:

Mid-Day Top Gainers 

Symbol Open High Low LTP %chng
AXISBANK 960 985.1 958.2 983.3 3.71
HDFCBANK 1,647.00 1,682.50 1,647.00 1,679.15 3.03
ICICIBANK 1,247.35 1,263.00 1,236.00 1,262.75 2.83
BAJFINANCE 7,390.00 7,499.80 7,345.00 7,491.85 2.69
SHRIRAMFIN 520.05 529 508.6 522.95 2.21

Axis Bank

Axis Bank shares opened at ₹960, reached a high of ₹985.1, and are currently at ₹983.3, with a day change of +3.71%.

HDFC Bank

HDFC Bank shares started trading at ₹1,647.00, peaked at ₹1,682.50, and are at ₹1,679.15, showing a day change of +3.03%.

ICICI Bank

ICICI Bank shares opened at ₹1,247.35, hit a high of ₹1,263.00, and are at ₹1,262.75, with a day change of +2.83%.

SBI

Bajaj Finance shares began at ₹7,390.00, reached a high of ₹7,499.80, and are at ₹7,491.85, with a day change of +2.69%.

Shriram Finance

Shriram Finance shares opened at ₹520.05, saw a high of ₹529, and is at ₹522.95, with a day change of +2.21%.

Mid-Day Top Losers

Symbol Open High Low LTP %chng
SUNPHARMA 1,779.80 1,780.00 1,697.25 1,697.40 -5.01
NTPC 322.5 323.85 308.15 311.6 -3.29
BEL 263.5 265.7 252.7 257.45 -2.09
DRREDDY 1,197.65 1,197.65 1,164.65 1,176.25 -1.79
POWERGRID 287.15 288.8 279.35 284.05 -1.03

Sun Pharma

Sun Pharma shares opened at ₹1,779.80, reached a low of ₹1,697.25, and had a day change of -5.01%.

NTPC

NTPC shares started at ₹322.50, hit a low of ₹308.15, and showed a day change of -3.29%.

BEL

BEL shares opened at ₹263.50, and saw a low of ₹252.70, with a day change of -2.09%.

Dr Reddy

Dr Reddy shares began trading at ₹1,197.65, and reached a low of ₹1,164.65, with a day change of -1.79%.

Powergrid

Powergrid shares opened at ₹287.15, saw a low of ₹279.35, and had a day change of -1.03%.

 

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.

ACME Solar Shares in Focus: Signed PPA With NHPC For 680 MW Project

On January 28, 2025, ACME Solar shares experienced a significant dip, dropping over 6%. The stock reached a day low of ₹167.55 at 11:45 AM, down from an opening price of ₹186.15. The decline in ACME Solar shares occurred despite its announcement of a key development in its renewable energy projects.

Signing of PPA with NHPC Limited

ACME Solar announced the signing of a Power Purchase Agreement (PPA) with NHPC Limited for a Firm & Dispatchable Renewable Energy (FDRE) project. The project will have a capacity of 680 MW and is part of the broader effort to accelerate India’s transition to clean energy. This agreement marks a significant milestone for ACME Solar as it continues to strengthen its position in the renewable energy sector.

ACME Solar was awarded the 680 MW project under the FDRE tender of 1400 MW issued by NHPC. The project will be developed across various locations in India, including Gujarat, Madhya Pradesh, Karnataka, and Rajasthan. The initiative will incorporate advanced technology and hybrid renewable energy solutions, enhancing both efficiency and sustainability.

Hybrid Energy System and Commitment to Clean Energy

The PPA highlights ACME Solar’s commitment to India’s clean energy objectives. The project will integrate solar, wind, and battery storage technologies, setting a new benchmark for hybrid energy systems. This combination will not only contribute to a greener future but also support India’s broader environmental goals.

With a minimum annual Capacity Utilisation Factor (CUF) guarantee of 40%, the project is expected to meet 90% of the promised energy output during peak hours. This will significantly help reduce greenhouse gas (GHG) emissions and further solidify ACME Solar’s role in promoting sustainable energy solutions in India.

ACME Solar’s ongoing success in the renewable energy sector highlights its leadership in achieving India’s energy goals. The company’s continued innovation and project developments reinforce its position as a key player in the transition to clean energy.

 

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

Union Bank Share Price Rose ~7%: Posted Improvement in Asset Quality During Q3FY25

On January 28, 2025, Union Bank shares rose around 7%, reaching a day high of 113.14 at 11:15 AM, after opening at 109.11. The gain in Union Bank share price came after the release of Q3FY25 results, wherein, the bank recorded an increase in net profit for the December quarter and an improvement in asset quality.

Union Bank Q3FY25 Earning Overview

The bank reported a 28.2% year-on-year rise in its net profit, reaching ₹4,603.6 crore for Q3FY25, up from ₹3,589.90 crore in the same quarter last year. The profit growth was fueled by lower provisions and better-than-expected other income. Other income rose 17% year-on-year to ₹4,420 crore, helping lift total income by 5.5% to ₹13,660 crore.

Net interest income (NII), which is the difference between a bank’s income from lending and the interest it pays on deposits, grew 0.8% to ₹9,240.2 crore, compared to ₹9,168 crore in the third quarter of FY24.

Improvement in Asset Quality

Asset quality also showed improvement, with the gross non-performing asset (GNPA) ratio decreasing to 3.85% in the December quarter, down from 4.36% in the September quarter. The net NPA ratio also fell to 0.82% from 0.98% on a sequential basis.

RBI Announced Liquidity Infusion

The another reason, Union Bank share spiked was the announcement by the Reserve Bank of India for bond purchase via open market operations worth ₹60,000 crore, a 56-day variable rate repo auction for an amount of ₹50,000 crore and a dollar-rupee buy-sell swap auction of $5 billion for 6 months.

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