KBC Global Approves 1:1 Bonus Share Issue

Nashik-based KBC Global Ltd, a construction and real estate development firm, has announced a 1:1 bonus equity share issue, granting one bonus share for every fully paid equity share. The proposal awaits shareholder approval and aligns with the company’s broader strategy to accelerate expansion and reduce debt.

Additionally, the board has proposed renaming the company to Dharan Infra-EPC Ltd, subject to regulatory approval, as part of its strategic rebranding efforts.

The share price of KBC Global was trading approximately 1% higher as of 12:32 PM on February 17, 2025.

Capital Expansion and Bonus Share Details

The bonus issue will be funded through the company’s reserves, including the Free Reserves, Securities Premium Account, and Capital Redemption Reserve, as of March 31, 2024. The estimated capital required for the issue is ₹261.43 crore, which will double the current share capital from ₹261.43 crore to ₹522.87 crore.

The record date for shareholders’ eligibility will be announced soon, in compliance with SEBI regulations.

Preferential Allotment of Convertible Warrants

KBC Global Ltd has also secured ₹99.50 crore through the preferential issue of 45.23 crore convertible warrants at ₹2.20 per warrant. The proceeds will be primarily utilised for debt repayment. Investors participating in this preferential allotment include:

  • Falcone Peak Fund (CEIC) Ltd – 26 crore warrants
  • Patanjali Parivahan Pvt Ltd and Patanjali Food & Herbal Park – 4.55 crore warrants
  • Foresight Holding Pvt Ltd – 2.28 crore warrants

Once converted, Falcone Peak Fund (CEIC) Ltd will hold 8.48%, Patanjali companies 1.48%, and Foresight Holding Pvt Ltd 1.04% of the company’s total equity.

This issue is in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Warrants must be converted into equity shares within 18 months of allotment.

Expanding Global Footprint with New Infrastructure Projects

KBC Global Ltd has been making significant international strides:

  • KBC International Ltd, Ghana, a subsidiary, has signed a $12.5 million MoU with the Liberia Special Economic Zone Authority to develop residential and commercial spaces. The project is expected to commence in Q2 2025 and be completed within three years.
  • In June 2024, the company’s subsidiary Karda International Infrastructure Ltd secured a $20 million subcontract in civil engineering from CRJE (East Africa) Ltd, marking its entry into Africa’s infrastructure sector.

Domestic Expansion and Real Estate Projects

On the domestic front, KBC Global Ltd has recently launched a new project in Deolali, Nashik, covering an area of 31,998 sq ft, featuring six commercial and twenty-two residential units.

The company has also been actively delivering projects, handing over 135+ residential and commercial units in Maharashtra since April 2024. Some key handovers include:

  • 91 units from Hari Kunj Mayflower
  • 28 units from Hari Krishna Phase IV
  • Additional units from Hari Vishwa and Hari Sanskruti Phase II

Leadership and Governance Updates

  • Mr Naresh Karda has been appointed Chairperson of KBC Infrastructure Ltd, a UK-based wholly owned subsidiary.
  • Ms Muna Makki has been appointed as Executive Director, subject to shareholder approval.

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.

PCBL Chemical Expands Specialty Portfolio with Acetylene Black Technology

PCBL Chemical Ltd has taken a significant step in enhancing its speciality product offerings by signing a technology transfer agreement with China’s Ningxia Jinhua Chemical Co. This move enables PCBL to manufacture Acetylene Black in India, a high-end conductive material with critical applications in power cables, lithium-ion batteries, electric vehicle (EV) charging, semiconductor packaging, and conductive coatings.

At 12:07 PM on February 17, 2025, PCBL’s share price was trading marginally lower at ₹346.70.

Strengthening India’s Battery and Semiconductor Supply Chain

With the Indian battery industry witnessing exponential growth, PCBL’s decision to establish its first Acetylene Black plant in the country aligns with the increasing domestic and global demand for conductive materials. This strategic move is aimed at building resilient supply chains for critical materials used in batteries, semiconductors, and electrical applications.

Expansion of PCBL’s Specialty Portfolio

PCBL has been actively diversifying its speciality product line in recent years. The company has introduced over 50 grades under its Bleumina brand for engineered plastics, Nutone for inks, paints, and coatings, and Energia for conductive applications such as electrostatic discharge and battery components. The inclusion of Acetylene Black will significantly reinforce its position in the fast-growing conductive materials segment.

Investment in Advanced Technology and Innovation

Furthering its commitment to innovation, PCBL has also set up a joint venture company, Nanovace Technologies Ltd, to develop nano-silicon products for lithium-ion battery anodes. A pilot plant at PCBL’s Palej site is expected to be operational in the coming months. The addition of Acetylene Black technology complements PCBL’s focus on macro trends such as energy transition, grid renewal, automotive electrification, and semiconductor industry expansion.

Market Potential

The global market for Acetylene Black, currently estimated at 60,000 metric tonnes (MT), is projected to grow at a compound annual growth rate (CAGR) of 19-20%, reaching approximately 1,50,000 MT by 2030. By acquiring this technology, PCBL is positioning itself to capitalise on high-growth sectors, enriching its product mix, and enhancing its profit margins.

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.

Which Life Insurers in India Have Settled the Most Claims?

A key factor in assessing the reliability of a life insurer is its claim settlement ratio. This ratio indicates the percentage of claims an insurer has successfully settled over a specific period. A high claim settlement ratio suggests that the insurer honours the majority of claims, instilling confidence among policyholders.

For example, an insurer with a 99% claim settlement ratio has successfully settled 99 out of 100 claims received. Thus, the higher the ratio, the greater the assurance for policyholders and their families.

Leading Life Insurers in Claim Settlement

As per the data up to September 2024, ICICI Prudential Life has emerged as the leader in individual death claim settlements, boasting an impressive 99.3% settlement ratio. Close behind is Ageas Federal Life with a 99.2% settlement ratio.

Other top-performing insurers include:

Life Insurer Individual death Claim Settlement Ratio
ICICI Prudential Life* 99.3%
Ageas Federal Life* 99.2%
Edelweiss Life* 98.8%
HDFC Life 98.4%
Bajaj Allianz Life 98.3%
Tata AIA Life 98.3%
SBI Life 98.1%

*Data for ICICI Prudential Life and Ageas Federal Life is for the period from April to September 2024.

These figures indicate the insurers with the highest reliability in claim settlements, ensuring timely financial support for policyholders’ families.

The Role of Claim Rejection Ratio

While the claim settlement ratio highlights an insurer’s reliability, the claim rejection ratio offers insights into the likelihood of a claim being denied. A lower rejection ratio signifies that fewer claims are turned down, which is a positive indicator for policyholders.

For example, an insurer with a 5% claim rejection ratio would have denied 5 out of every 100 claims received. The lower the rejection ratio, the better it is for policyholders.

Life Insurers with the Lowest Claim Rejection Ratios

As per available data, HDFC Life exhibits the lowest claim rejection ratio at just 0.2%, followed closely by Tata AIA Life at 0.3%. Axis Max Life and Edelweiss Life share the third position, each with a rejection ratio of 0.4%.

 

Life Insurer Claim Rejection Ratio
HDFC Life 0.2%
Tata AIA Life 0.3%
Axis Max Life 0.4%
Edelweiss Life* 0.4%
Bajaj Allianz Life 0.5%
Aviva Life 0.5%

The above data underscores the importance of choosing insurers with a low rejection ratio, as it reflects their commitment to honouring claims efficiently.

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.

Dilip Buildcon Share Price Surges After Settlement with NHAI

Dilip Buildcon Ltd (DBL) saw its stock rise 4.40% to ₹410.10 at 11:27 AM,  February 17, 2025, following a settlement with the National Highways Authority of India (NHAI). The company’s shares had been under pressure in the past month, down 3.26%, and have fallen 17.16% over the past year.

Background of the Dispute

The dispute was related to an EPC contract for the six-laning of the Nidagatta-Mysore section of NH-275 in Karnataka, awarded under the Hybrid Annuity Model in 2018. DBL had claims against DBL Nidagatta – Mysore Highways Private Limited (DNMHPL), which were referred for conciliation. 

The case was reviewed by the Conciliation Committee of Independent Experts (CCIE), which led to a settlement between DBL, DNMHPL, and NHAI.

Settlement Terms

As per the agreement, NHAI will disburse ₹176.90 crore, with ₹117.41 crore directly related to DBL’s claims. The amount is expected to be paid within 30 days.

The settlement covers multiple claims, including:

  • Compensation for project delays due to issues with Right of Way (ROW).
  • Reimbursement of additional costs incurred during an extended construction period.
  • Compensation for Change-in-Law costs, such as Royalty and GST.
  • Release of withheld GST payments.
  • Revision of rates for Change of Scope (COS) work and payment adjustments.
  • Restoration of annuity and interest adjustments.
  • Compensation for price escalation in works between provisional and final completion.
  • Payment of additional interest accrued during the project.

Impact on the Company

The settlement resolves a long-pending issue and provides DBL with additional funds. While the stock saw a short-term jump, it remains lower than its level a year ago. The broader impact on the company’s financials will depend on how it manages future projects and cash flow.

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.

Odisha Government Urges Subhadra Yojana Beneficiaries to Complete DBT, eKYC for Payments

The Odisha government has asked all Subhadra Yojana beneficiaries who have not received their payments to complete their Direct Benefit Transfer (DBT) process and eKYC verification. Those who fulfill these requirements will receive their first or second installment by March 8, as per the reports.

Over 2.5 Lakh Beneficiaries Yet to Complete Verification

According to a statement from the Information & Public Relations (I&PR) Department, more than 2.5 lakh eligible beneficiaries have either not completed their eKYC or do not have DBT-enabled bank accounts. The government has published a list of these beneficiaries at block, municipality, and municipal corporation offices, as well as on the Subhadra portal.

eKYC and DBT Requirements

To receive the funds, a beneficiary must:

  • Have a single-holder bank account linked to her Aadhaar number and DBT-enabled.
  • Complete eKYC verification using the biometric method on the Subhadra portal.
  • Visit a Jana Seva Kendra or Mo Seva Kendra to complete the eKYC process.

Lists Available for Beneficiaries to Check

Women who have not received their payments can check the published lists to verify if they need to complete the eKYC and DBT process. Those who do so before the deadline will receive their first installment before March 8, or their second installment on that date.

Deadline and Government Instructions

The state government has set a March 8 deadline for all pending verifications. Beneficiaries who fail to complete the process in time may face delays in receiving their payments. The government has advised all affected women to complete their eKYC at the earliest to avoid disruptions.

The Subhadra Yojana aims to provide financial assistance, but pending verifications have delayed disbursements for many. With the list of incomplete cases now made public, beneficiaries are expected to act before the deadline to ensure they receive their entitled funds.

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.

Arvind SmartSpaces Launches ₹600 Crore Project in Ahmedabad

Arvind SmartSpaces Limited (ASL) has announced a new residential plotted development project in Ahmedabad with an estimated top-line potential of ₹600 crore. The project spans 150 acres and is located on Sanand-Nalsarovar Road.

Project Details

The project is situated 15 km from Sanand and 30 km from Nalsarovar Lake, a region known for the Nalsarovar Bird Sanctuary. The area is to witness increased real estate activity due to its connectivity and industrial development, as per the reports.

The project has a saleable area of 6.6 million sq. ft., adding to ASL’s existing portfolio in Ahmedabad. The company has been expanding its presence in plotted developments, which continue to see demand in emerging residential zones.

Business Expansion

With this project, Arvind SmartSpaces’ year-to-date (YTD) project addition value has reached ₹4,450 crore, making it the company’s largest business development year so far. The company has been focusing on horizontal real estate in Ahmedabad, leveraging the city’s infrastructure growth, as per the filing.

Background

Arvind SmartSpaces was founded in 2008 and is part of the Lalbhai Group, which has a legacy of over 120 years. The company has developed 106 million sq. ft. of real estate across cities including Ahmedabad, Gandhinagar, Bangalore, and Pune.

Its portfolio includes residential, commercial, and plotted developments, with a focus on both luxury and mid-segment housing.

Official Statement

Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said: “Ahmedabad remains a strong market for real estate. This acquisition in the Sanand-Nalsarovar region adds to our ongoing growth strategy.”

Market Movement 

As of 12:10 PM on February 17, Arvind SmartSpaces Ltd is trading at ₹663.20, down ₹8.65 (1.29%) for the day. Over the past month, the stock has declined 17.36%, but it remains up 5.22% over the past year.

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.

Zydus Lifesciences Successfully Clears USFDA Inspection at Ambernath Facility

Zydus Lifesciences Ltd has successfully completed a surveillance inspection by the US Food and Drug Administration (USFDA) at its active pharmaceutical ingredient (API) manufacturing facility in Ambernath, Maharashtra. Conducted from 10 to 14 February 2025, the inspection concluded with no observations, reaffirming the company’s commitment to regulatory compliance.

USFDA Inspection and Operational Excellence

The recent USFDA inspection at Zydus Lifesciences’ Ambernath API facility resulted in zero observations, highlighting the company’s adherence to global manufacturing and quality standards. The successful completion of this inspection reinforces Zydus’ credibility in the pharmaceutical sector and ensures seamless operations for its API exports.

Strong Financial Performance

Zydus Lifesciences reported financial growth in the third quarter, with US formulation sales reaching $285 million. The US market contributes approximately 47% to the company’s overall revenue. During the quarter, the company’s revenue grew by 17% to ₹5,269 crore, while net profit rose to ₹1,023 crore. A forex gain of ₹183 crore further supported profitability. The EBITDA for the quarter stood at ₹1,387 crore, with margins expanding by 200 basis points to 26.3%.

Zydus Lifesciences Share Performance

As of February 17, 2025, at 9:15 AM, the shares of Zydus Lifesciences are trading at ₹910 per share, reflecting a surge of 0.90% from the previous closing price. Over the past month, the stock has declined by 8.51%.

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.

RBI To Infuse Over $16 Billion To Manage Liquidity Needs

According to news reports, the Reserve Bank of India (RBI) is set to inject over $16 billion into the banking system next week to counterbalance large outflows due to tax payments. The central bank has significantly increased its liquidity infusion through government securities purchases and other measures to ensure sufficient market liquidity.

Increased Government Securities Purchases

The RBI has doubled its government securities purchase target to ₹400 billion ($4.61 billion) in response to current and evolving liquidity conditions. This follows an earlier bond purchase of ₹400 billion on Thursday, which was initially planned at ₹200 billion.

For the upcoming auction, the RBI has included the benchmark 6.79% 2034 security, which was previously part of its first debt purchase in January but was excluded from the second auction. The central bank has infused approximately ₹2.68 trillion into the banking system over the past month through a mix of open market operations (OMO), secondary market bond purchases, dollar/rupee swaps, and long-term variable rate repo auctions.

Fund Infusion By RBI Through Different Instruments

 

Instrument Fund Infused (₹ in billion)
OMO Purchase Via Auction 600.2
Screen Based Bond Purchase 388.15
FX Swap 440
56 Day Repo 500.1
49 Day Repo 750.03
Planned 4 Day Repo on Feb 17 1000
Planned OMO Purchase on Feb 20 400
Total Infusion 4,078.48

Liquidity Support Through Repos and Market Operations

In addition to OMOs, the RBI has been providing daily overnight repos and adjusting the liquidity supply based on market demand. Nearly two-thirds of these repo auctions have not been fully subscribed, suggesting that liquidity offerings have been generally aligned with or exceeded market requirements.

The central bank has also scheduled a four-day variable rate repo auction for ₹1 trillion on Monday to further support liquidity. With Goods and Services Tax (GST) payments scheduled around February 20, traders estimate an outflow of ₹1.6 trillion to ₹2 trillion, necessitating increased liquidity measures.

Conclusion

The RBI’s decision to step up liquidity infusion reflects its proactive approach to managing large financial outflows. Through increased government securities purchases and repo operations, the central bank aims to maintain stability in the banking system.

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.

SEBI Updates Timelines for Consolidated Account Statement Issuance by Depositories

The Securities and Exchange Board of India (SEBI) has modified the timelines for issuing Consolidated Account Statements (CAS) to improve compliance efficiency. As per a circular issued on Friday, depositories will now have revised deadlines for dispatching CAS, with changes affecting both monthly and half-yearly statements.

Updated Deadlines for Monthly CAS

Under the new framework, asset management companies (AMCs) and mutual fund registrar and transfer agents (MF-RTAs) must submit common PAN data to depositories within five days from the end of each month, extending the earlier three-day limit.

Once the data is received, depositories will consolidate and send CAS to investors who have opted for electronic delivery by the 12th day of the month. For those preferring physical copies, statements will be dispatched by the 15th day from the month-end.

Changes in Half-Yearly CAS Issuance

For half-yearly CAS, SEBI has mandated that AMCs and MF-RTAs must provide common PAN data to depositories by the 8th of April and October every year. Depositories will then send e-CAS by the 18th of April and October, while physical copies will be dispatched by the 21st of the respective months.

Additionally, SEBI has revised the CAS issuance rules for accounts with no transactions. If an investor has activity in their demat account or mutual fund folios, CAS will continue to be sent monthly via email. If no transactions occur, a CAS containing holding details will be sent on a half-yearly basis.

Conclusion

The revised CAS issuance framework by SEBI introduces extended timelines for monthly and half-yearly statements, offering greater flexibility for AMCs, MF-RTAs, and depositories. These changes will take effect from 14 May 2025.

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. 

EU and Ministry of Textiles Launch Initiatives to Strengthen India’s Textile Sector

The European Union (EU) and the Ministry of Textiles have jointly launched seven projects to enhance India’s textile and handicraft sector. Announced at Bharat Tex, these initiatives aim to promote sustainability, economic empowerment, and resource efficiency across nine states in India.

EU’s Funding and Sustainable Growth

The projects, backed by an EU grant of EUR 9.5 million (₹85.5 crores), aim to drive inclusive growth and sustainability. Over the next three to five years, they will directly benefit 35,000 individuals, including 15,000 MSMEs, 5,000 artisans, and 15,000 farmer-producers. Additionally, around 200,000 women are expected to gain economic empowerment through these initiatives.

These projects align with the Ministry of Textiles’ “Sustainable Bharat Mission for Textiles” and contribute to the EU-India Resource Efficiency Circular Economy initiative. The funding comes under the EU’s Global Gateway Strategy, with collaboration from Germany’s Federal Ministry (BMUV) and the Ministry of Environment, Forest, and Climate Change, Government of India.

Cultural Preservation and Market Expansion

The initiatives will be implemented in Assam, Andhra Pradesh, Telangana, Uttarakhand, Uttar Pradesh, Odisha, Jharkhand, Bihar, and Haryana. They will focus on enhancing production, branding, and market access for natural dyes, bamboo crafts, handlooms, shawls, and traditional textiles. Key organisations such as Humana People to People India, Deutsche Welthungerhilfe EV, Stiftelsen Varldsnaturfonden WWF, and others will lead the implementation.

With over 45 million individuals employed in the textile sector—60% of whom are women—the projects aim to address environmental challenges such as emissions, energy consumption, and low recycling rates. The launch of the “Textiles’ Toolkit,” in collaboration with GIZ, further supports India’s efforts towards a circular economy.

Conclusion

By integrating tradition with innovation, these projects seek to create a sustainable and competitive textile industry in India. The EU’s commitment to supporting environmentally sustainable practices strengthens its partnership with India in fostering long-term economic and social development.

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.