India and Mauritius Sign 8 MoUs Covering Banking, Security, and Trade

India and Mauritius signed 8 Memorandums of Understanding (MoUs) on March 11, 2025 covering areas such as banking, trade, security, and governance. The agreements were signed during Prime Minister Narendra Modi’s two-day visit to the island nation, where he met his Mauritian counterpart, Navin Chandra Ramgoolam.

Important Agreements Signed

The signed MoUs focus on financial cooperation, infrastructure, and public sector development.

  1. Local Currency Settlement – The Reserve Bank of India and the Central Bank of Mauritius signed an MoU to establish a local currency settlement system, allowing trade transactions to be conducted in Indian Rupees and Mauritian Rupees.
  2. Water Infrastructure – A credit facility agreement was signed between the Government of Mauritius and the State Bank of India to support the Central Water Authority’s Pipe Replacement Programme.
  3. Shipping Information Exchange – The Indian Navy and the Mauritius Police Force agreed to share white shipping information for maritime security.
  4. Diplomatic Training – An MoU between the Institute of Foreign Service of India and Mauritius’ Ministry of Foreign Affairs was signed to provide training programs for diplomats.
  5. Financial Crime Cooperation – India’s Enforcement Directorate and Mauritius’ Financial Crimes Commission signed an agreement to collaborate on tackling financial crimes.
  6. Support for MSMEs – India’s Ministry of Micro, Small, and Medium Enterprises (MSMEs) and Mauritius’ Ministry of Industry, SMEs, and Cooperatives signed an MoU to strengthen small business cooperation.
  7. Public Service Training – Mauritius’ Ministry of Public Service signed an MoU with India’s National Centre for Good Governance for training public officers.
  8. Ocean Information Collaboration – The National Centre for Ocean Information Services of India and Mauritius’ Department for Continental Shelf, Maritime Zones Administration, and Exploration signed an MoU for cooperation in oceanic research and data exchange.

Conclusion

During the visit, India announced support for the construction of a new Parliament building in Mauritius. Discussions were also held between PM Modi and other Mauritian leaders, including opposition leader Georges Pierre Lesjongard and former Prime Minister Pravind Kumar Jugnauth, focusing on bilateral cooperation.

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.

Coromandel International To Acquire 53% Stake in NACL Industries for ₹820 Crore

Strengthening Market Presence in Crop Protection

Coromandel International Ltd, a leading agri-solutions provider in India, has announced the acquisition of a 53% stake in NACL Industries for ₹820 crore.

The deal, priced at ₹76.7 per share, will be executed through a share purchase agreement with the current promoter, KLR Products. Additionally, Coromandel plans to make an open offer for up to 26% of NACL’s equity share capital, as per SEBI’s takeover regulations.

The acquisition marks a strategic expansion for Coromandel in the crop protection segment, enhancing its domestic formulation business and technical capabilities. NACL, known for its strong presence in branded formulations, exports technical-grade agrochemicals to key global markets and has established contract manufacturing operations with multinational agrochemical companies.

Expanding Manufacturing Capabilities and R&D Strength

NACL operates advanced technical and formulation plants in Andhra Pradesh and has a centralised research and development (R&D) facility near Hyderabad. The company has also invested in a technical-grade manufacturing facility at Dahej, enabling it to produce active ingredients for agrochemical formulations. 

With over 2 decades of contract manufacturing experience, NACL has built long-term partnerships with global agrochemical firms.

Coromandel’s Executive Chairman, Arun Alagappan, highlighted that the acquisition aligns with the company’s long-term growth vision by combining its extensive distribution network with NACL’s manufacturing expertise. 

Managing Director and CEO Sankarasubramanian emphasised that Coromandel’s financial strength, global reach, and supply chain efficiencies would enhance NACL’s operations, accelerating product development and market expansion.

Coromandel International Share Performance 

As of March 13, 2025, at 11:05 AM, the shares of Coromandel International are trading at ₹1,782.90 per share, up by 1.19% from the previous closing price.

Conclusion

The acquisition of NACL Industries solidifies Coromandel International’s position as a key player in India’s crop protection sector. By leveraging NACL’s manufacturing capabilities and global partnerships, Coromandel aims to expand its product portfolio, strengthen contract manufacturing operations, and enhance its research and innovation capabilities. The transaction is subject to regulatory approvals and is expected to be completed in the coming months.

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.

Blackstone Inc to Invest $11 Billion in Indian Data Centres

Blackstone Inc., the world’s largest data centre provider, is making a significant move in India by investing $11 billion in data centre infrastructure. This investment aligns with the rapidly growing demand for artificial intelligence (AI) and cloud computing services in the country. With AI-driven technologies requiring massive computing power, data centres have become a critical part of the digital economy.

Blackstone’s Commitment to AI and Cloud Growth

Speaking to NDTV Profit, Blackstone CEO Stephen Schwarzman emphasised the importance of data centres in AI expansion. He stated, “We’ve made a commitment here in India to put $11 billion into data centres.”

He further elaborated on the rapid growth of AI, saying, “The power of the AI movement will be growing at a very accelerated rate as soon as we let the technology develop, which will happen over the next 10 years. Then we have to build as many data centres as the system can take.”

Schwarzman also explained the crucial role of data centres in AI infrastructure, stating, “You cannot have artificial intelligence without data centres because that’s where the computations and the computer are located. And so if you believe in artificial intelligence, then data centres will expand in terms of scale.”

Global Investments and Expansion Plans

The CEO projected massive investments in data centre infrastructure worldwide, estimating, “a trillion dollars worth of investment in building more data centres in the US over the next five years, and a trillion dollars outside the country.”

Blackstone has already established itself as a dominant player in the global data centre industry through acquisitions, including AirTrunk, a leading data centre platform in the Asia-Pacific region, and QTS, a US and European data centre provider.

In India, the company recently launched Lumina CloudInfra, a hyperscale cloud infrastructure and data centre provider based in Mumbai, with a planned capacity of 600 MW.

Conclusion

Blackstone’s investment highlights India’s growing importance in the AI and cloud computing landscape. As AI adoption accelerates, the demand for robust data centre infrastructure will continue to rise. With global tech giants increasing their focus on India, the country is set to become a major hub for AI-driven innovations and cloud computing services.

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. 

India Planning to Establish Coal Trading Exchange Amid Rising Private Mining Output

India is set to introduce a coal trading exchange to facilitate the buying and selling of domestically produced coal. This move aligns with the country’s growing coal production, particularly from private miners, following significant reforms in the sector. 

The exchange aims to enhance competition and streamline coal sales, ensuring a more efficient and transparent marketplace.

Coal Sector Reforms and Growing Private Participation

The Indian government has progressively opened up the coal sector, breaking the long-standing near-monopoly of state-owned Coal India Limited (CIL). Earlier this decade, private companies were allowed to enter the coal mining industry, significantly boosting domestic production. By 2030, private mines are expected to contribute between 350 and 400 million metric tonnes of coal annually.

Currently, Coal India accounts for approximately 75% of the over 1 billion tonnes of coal mined annually in India, making it the second-largest coal market globally after China. With increased coal availability, the government aims to implement further reforms to promote competitive market practices and reduce reliance on traditional sales mechanisms.

The Role and Impact of the Proposed Exchange

The proposed coal trading exchange will serve as a marketplace for commercial miners and captive miners to sell surplus coal. It will also include public sector entities such as Coal India, shifting the current “one-to-many” sales framework to a more dynamic “many-to-many” trading model.

By introducing this exchange, India seeks to establish a more transparent and competitive coal market, ensuring efficient price discovery and better distribution of coal resources. This initiative is expected to benefit industries reliant on coal by providing greater access to supplies and reducing dependency on fixed contracts with a limited number of sellers.

Conclusion

The establishment of a coal trading exchange marks a significant shift in India’s coal market dynamics. With increasing coal output from private miners and a push towards competitive pricing, the exchange is set to enhance market efficiency and foster a more open and fair trading environment.

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.

RBI Opens Applications for Account Aggregator Self-Regulatory Body

The Reserve Bank of India (RBI) has introduced a comprehensive framework for recognising Self-Regulatory Organisations (SROs) in the Account Aggregator (AA) ecosystem. 

This framework outlines the eligibility criteria, governance structure, and responsibilities of SROs, aiming to enhance professional standards and best practices within the sector. Applications for recognition must be submitted via the PRAVAAH portal by June 15, 2025.

Account Aggregator Ecosystem and Its Regulatory Structure

The AA framework was initially introduced by the RBI in September 2016 to facilitate the secure exchange of financial data through Non-Banking Financial Company-Account Aggregators (NBFC-AAs). 

These entities act as intermediaries between Financial Information Providers (FIPs) and Financial Information Users (FI-Us), ensuring seamless data-sharing processes. The ecosystem operates under multiple regulators, including the RBI, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), and Pension Fund Regulatory and Development Authority (PFRDA).

Additionally, the Department of Revenue is recognised as the regulator for the Goods and Services Tax Network (GSTN) concerning its integration into the AA system.

Given the diverse regulatory environment, the AA ecosystem requires continuous coordination among Regulated Entities (REs) to address operational challenges such as dispute resolution, standardised agreements, and common services.

The RBI has emphasised the necessity of an SRO to ensure structured oversight and facilitate smoother adoption of the framework.

Role and Governance of SROs in the AA Ecosystem

The primary function of an SRO-AA is to uphold high standards of business conduct and professional integrity among its members. It will be responsible for establishing industry-wide benchmarks, ensuring compliance with best practices, and fostering transparency within the ecosystem. The SRO-AA must operate independently while maintaining professionalism and integrity to strengthen confidence in the system.

Furthermore, the RBI has mandated that the governance of an SRO-AA adhere to the highest standards outlined in the Companies Act 2013. 

This requirement ensures accountability and ethical management within the AA framework. By implementing this structure, the central bank aims to enhance stability and efficiency in financial data sharing while promoting self-regulation among participating entities.

Conclusion

The introduction of SROs in the Account Aggregator ecosystem marks a significant step towards strengthening governance and operational efficiency in financial data sharing. 

By setting regulatory standards and fostering coordination among stakeholders, the RBI aims to ensure a more structured and secure environment for financial information exchange. Establishing an independent and transparent SRO-AA will further bolster trust and stability within the ecosystem.

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. 

Premier Explosives Secures ₹21.45 Crore Defence Export Order

Premier Explosives Limited has received an export order worth ₹21.45 crore for supplying defence-grade explosives to international clients. The company announced this in a stock exchange filing on March 12, 2025. The order is expected to be delivered within 5 months.

As of March 13, 2025, at 11:58 AM, Premier Explosives Ltd shares were trading at ₹328, up ₹4.40 (1.36%) for the day. Over the past month, the stock has declined by 13.89%, while it has gained 22.48% over the past year.

Products and Services

The company manufactures bulk and packaged explosives, detonators, fuses, and solid propellants for missiles such as Akash and Astra. It also produces pyro devices like chaff, infrared flares, and explosive bolts. In addition, Premier Explosives operates and maintains propellant plants for ISRO and DRDO.

Financial Performance

For Q3 FY24-25, the company reported a revenue increase of 250%, rising from ₹47.44 crore to ₹166.14 crore. Net profit also grew from ₹1.71 crore to ₹9.22 crore in the same period.

Premier Explosives’ total order book declined from ₹964.7 crore in March 2024 to ₹827 crore in September 2024. Defence contracts form 88% of the order book, with services contributing 9% and explosives making up 3%.

Telangana Factory Fire

In January 2025, a fire broke out at Premier Explosives’ Telangana factory, affecting a pyrotechnic manufacturing facility. One person died, and another suffered severe injuries and was hospitalised in Hyderabad. The cause of the fire is under investigation, and the company has stated that the affected assets were insured. Operations at the plant are being restored.

Conclusion 

The company confirmed that the new order is from an international entity. There is no involvement of promoter groups, and the transaction does not fall under related-party transactions.

No further details about the client or the specific nature of the explosives were disclosed.

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.

BEL to Supply Ashwini Radars to IAF Under ₹2,463 Crore Deal

Bharat Electronics Ltd (BEL) has secured a ₹2,463 crore contract (excluding taxes) from the Ministry of Defence to supply and provide services for Ashwini Radars to the Indian Air Force (IAF). The announcement was made through an exchange filing on March 12.

Following the announcement, as of March 13, 12:34 PM, Bharat Electronics Ltd (BEL) Shares were trading at ₹282.90, up ₹6.15 (2.22%) today, showing an 8.14% gain over the past month but a 2.43% decline over the past six months..

About Ashwini Radar 

The Ashwini Radar is an Active Electronically Scanned Array (AESA) radar developed by BEL in collaboration with the Defence Research and Development Organisation (DRDO). It includes an Identification Friend or Foe (IFF) system and features electronic scanning in azimuth and elevation, enabling 4D surveillance.

These radars are mobile and for deployment across different terrains. They come with Electronic Counter-Countermeasures (ECCM) and can automatically detect and track aerial targets, including fighter aircraft, UAVs, and helicopters.

BEL’s Order Book Update

With this latest contract, BEL’s total orders for the financial year now stand at ₹17,030 crore. The company has received multiple orders in recent months, including ₹843 crore worth of contracts for RF seekers, vessel and air traffic management systems, radar upgrades, spares, and electro-optic repair facilities.

Low-Level Transportable Radar (LLTR) System

The Ashwini Radar is categorized as a Low-Level Transportable Radar (LLTR). It is built using solid-state technology and is designed to track both fast-moving and slow-moving aerial targets. The radar is expected to support the Indian Air Force in improving its air surveillance and tracking capability.

Conclusion

In conclusion, the Ministry of Defence stated that the acquisition is part of efforts to strengthen domestic defence manufacturing. The contract is in line with ongoing initiatives to develop indigenous defence technology.

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.

Barbeque Nation Acquires 42.36% Stake in Willow Gourmet

Barbeque Nation Hospitality Ltd. has acquired a 42.36% stake in Willow Gourmet Pvt Ltd (WGPL) as part of its plan to increase its holding to 51%. The acquisition was partially completed on March 11, 2025, following the company’s earlier announcement on February 3, 2025.

As of March 13, 12:14 PM, Barbeque Nation Hospitality Ltd shares stood at ₹270.30, down ₹4.30 (1.57%) today, showcasing an 8.17% decline over the past month and a 47.78% drop over the past year.

Acquisition Details

Barbeque Nation had signed a Share Subscription Agreement and Shareholders’ Agreement to acquire a majority stake in Willow Gourmet. The transaction is being executed in phases, with the company currently holding 42.36% of WGPL.

Financial Performance

In the quarter ending December 31, 2024, Barbeque Nation reported a net profit of ₹4.53 crore, marking a shift from the losses recorded in the previous 3 quarters. The net profit margin for the quarter was 1.35%.

The company’s quarterly revenue stood at ₹334.41 crore. In the financial year ending March 31, 2024, Barbeque Nation allocated 6.05% of its operating revenue to interest expenses and 22.34% to employee costs.

Following the announcement, shares of Barbeque Nation closed 2.3% lower at ₹275.50 on Wednesday.

Regulatory Disclosure

Barbeque Nation disclosed the acquisition in an exchange filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the acquisition is part of its ongoing investment strategy.

Conclusion

With the completion of this phase, Barbeque Nation now holds 42.36% of WGPL and may proceed with further steps to increase its stake to 51%, as per the original 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.

Unicommerce Promoters Increase Their Stake in Company

Kunal Bahl and Rohit Kumar Bansal, promoters and directors of Unicommerce eSolutions Ltd, have increased their stake in the company by acquiring 93,500 shares from the open market. According to an exchange filing on March 11, Bahl purchased 46,500 shares for ₹49.47 lakh, while Bansal acquired 47,000 shares for ₹49.48 lakh.

Their combined holding has now increased from 10.75% to 10.85%.

Acquisition of Shipway

In November 2024, Unicommerce acquired a 42.7% stake in ecommerce shipping solutions provider Shipway for ₹68.4 crore. The company plans to acquire full ownership within a year, either through a merger or stock swap.

Market Presence

Unicommerce was founded in 2012 by Karun Singla, Ankit Pruthi, and Vibhu Garg. The company was later acquired by Snapdeal in 2015. It provides SaaS-based ecommerce enablement solutions, including warehouse and inventory management, multi-channel order processing, and logistics automation.

Unicommerce serves over 7,000 clients across India, Southeast Asia, and the Middle East. Some of its customers include FabIndia, Lenskart, Mamaearth, Sugar, Urban Company, TCNS, Timex, Emami, Portronics, Mensa and boAt. The company’s technology integrates with over 101 logistics partners and processes more than 1 billion transactions annually.

Financial Performance 

For the quarter ending December 2024, Unicommerce reported a 62% year-on-year increase in consolidated net profit, reaching ₹6.29 crore compared to ₹3.88 crore in Q3 FY24. Revenue from contracts with customers rose 26% to ₹32.74 crore from ₹25.96 crore in the previous year.

Following the stake purchase, shares of Unicommerce saw a brief rise during trading on Wednesday, reaching an intra-day high of ₹108.35 per share, up 2.07% from its previous close of ₹106.15. However, the stock later declined to ₹107.00. As of 1:32 PM on March 12, it was trading 0.80% lower at ₹105.30 on the BSE.

Conclusion

All in all, the increase in promoter stake, along with recent financial disclosures and acquisitions, showcases ongoing developments at Unicommerce amid market fluctuations.

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.

Jaguar Land Rover Halts EV Plans at Tata Motors’ $1 Billion India Plant

Jaguar Land Rover (JLR), a subsidiary of Tata Motors, has put a stop to its plans to manufacture electric vehicles (EVs) at Tata’s upcoming $1 billion facility in Tamil Nadu, according to the news reports. The decision was made due to difficulties in achieving the right balance between cost and quality for locally sourced EV components.

Supplier Talks Discontinued

In November 2024, JLR met with local suppliers in Mumbai to discuss sourcing components for its EV production in India. However, the company later halted these discussions. Tata’s EV unit had initially planned to finalise orders with suppliers by January 2025, but those plans have also been impacted.

Tata’s EV Strategy

As the reports suggest, the Tamil Nadu plant was expected to produce over 250,000 vehicles annually at full capacity within 5-7 years. JLR was to manufacture more than 70,000 EVs, while Tata’s EV division had planned for 25,000 units. With JLR no longer proceeding, Tata’s EV strategy is being revised.

Tata has also delayed the launch of its Avinya EV from 2024 to 2026-2027. It is unclear whether the suspension of JLR’s plans will lead to further delays.

Market and Demand Shift

The decision comes at a time when global carmakers are adjusting their EV strategies. Competition from Chinese automakers, a growing preference for hybrids, and changes in government regulations have influenced these shifts.

Tata remains India’s largest EV maker, but it faces increasing competition from Mahindra & Mahindra, JSW MG Motor, and Tesla, which is preparing to enter the Indian market. Currently, EVs account for only 2% of India’s total annual car sales of 4 million units.

Conclusion 

Despite JLR’s decision, Tata Motors will continue with the construction of the plant, which began in September 2024. The facility will manufacture vehicles apart from EVs, and Tata has stated that production timelines and model selection will be adjusted based on market conditions.

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.