Bank of Baroda (BoB) has received board approval to raise up to ₹8,500 crore through various methods, including a Qualified Institutional Placement (QIP). The fundraising will take place in suitable phases until March 2028, subject to necessary regulatory approvals. 

The decision was made during the board meeting on February 13, 2025.

Extension of Debt Fundraising Timeline

Along with the equity capital raise, the board has also extended the deadline for raising an additional ₹4,000 crore through Additional Tier I (AT I) and Tier II debt capital instruments. This is part of the previously approved ₹7,500 crore capital plan in its meeting dated 05.07.2024.

The deadline for this has now been extended to March 31, 2026, and beyond if required.

Financial Performance

For the December 2024 quarter, Bank of Baroda reported a 5.6% increase in net profit at ₹4,837 crore, compared to ₹4,579 crore in the same quarter the previous year. The total income stood at ₹34,676 crore, up from ₹31,416 crore. Interest income rose slightly to ₹30,908 crore, compared to ₹28,605 crore in the year-ago period.

Despite the increase in net profit, the bank’s net interest income (NII) fell by 2% sequentially, mainly due to a drop in net interest margins (NIMs). The bank now expects NIMs for the current fiscal year to be between 3% and 3.10%, slightly lower than the earlier 3.10-3.20% estimate.

Share Price Movement

Following the board’s decision, Bank of Baroda’s shares closed at ₹210.78 on February 13, down 0.83% from the previous day. The stock has dropped by 13% this year and 18.80% over the last 12 months. In early trade on February 14, shares continued to decline, trading at ₹209.76, down 0.49% at 10:15 AM.

The bank’s credit-to-deposit ratio stands at 84%, close to its peak. However, with deposits expected to grow 9-11% and advances at 11-13%, the ratio is likely to settle at around 80%.

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. 

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GAIL (India) Limited, a leading Maharatna CPSE under the Ministry of Petroleum and Natural Gas (MoPNG), has joined forces with Accelera™ by Cummins to advance clean energy solutions in India. The collaboration formalised through a Memorandum of Understanding (MoU) at India Energy Week 2025, marks a significant step towards achieving India’s sustainability goals by leveraging green energy technologies.

A Strategic Collaboration for Energy Transition

The partnership aims to harness Accelera’s expertise in new energy technologies alongside GAIL’s robust natural gas infrastructure. The focus will be on:

• Hydrogen production, blending, transportation, and storage
• Adoption of hydrogen as a fuel in sectors such as transport, power, and steel
• Infrastructure development for hydrogen and natural gas integration

This collaboration aligns with GAIL’s commitment to achieving its Net Zero targets, which have been accelerated from 2040 to 2035.

GAIL’s Commitment to Green Energy

GAIL has been at the forefront of clean energy initiatives. In April 2024, it commissioned a 10 MW Green Hydrogen unit at its plant in Vijaipur, Madhya Pradesh, featuring an electrolyser supplied by Accelera™ by Cummins. Additionally, GAIL has conducted successful hydrogen blending trials in Indore’s City Gas Distribution (CGD) network, starting with 2% hydrogen in CNG/PNG, later increasing to 5%.

Furthering its sustainability roadmap, GAIL has established a 5 TPD Compressed Biogas (CBG) plant in Ranchi and plans to set up 26 such facilities nationwide over the next three to four years. Collaborations are also in place to develop a 500 KLPD grain-based ethanol plant in Rajasthan and a synthetic natural gas production facility in West Bengal through a joint venture with Coal India.

Cummins’ Role in the Energy Transition

Cummins Inc., a global leader in power solutions, offers a diverse portfolio of sustainable energy products, including:

• Advanced diesel, natural gas, and electric powertrains
• Electrified power systems and batteries
• Hydrogen production and fuel cell technologies

By integrating its expertise in clean energy solutions, Cummins aims to support GAIL in accelerating India’s transition to a low-carbon economy.

Future Prospects: Hydrogen’s Expanding Role

The MoU underscores the growing significance of hydrogen in India’s energy ecosystem. The partnership will explore its adoption as a mono or dual fuel (LNG, CNG, or hydrogen blends) across multiple industries. Additionally, the collaboration will drive advancements in hydrogen infrastructure, including production, storage, and pipeline integration.

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.

Bank of Maharashtra has received approval from the Reserve Bank of India (RBI) to set up an International Financial Services Centre (IFSC) Banking Unit (IBU) in GIFT City, Gandhinagar, Gujarat. The approval was communicated through an RBI letter dated February 13, 2025.

IFSC Banking Unit

An IFSC Banking Unit allows banks to conduct foreign currency transactions and offer financial services that are not available under domestic banking regulations. These units cater to global clients, including businesses, investors, and Non-Resident Indians (NRIs). Banks operating in GIFT City benefit from regulatory relaxations and tax incentives.

GIFT City 

GIFT City (Gujarat International Finance Tec-City) is India’s first operational IFSC. It is to provide a business-friendly environment for financial institutions. Several domestic and international banks have already established IFSC Banking Units here, leveraging its infrastructure for global banking and financial transactions.

Market Performance

On February 14, 2025, Bank of Maharashtra’s shares at 12:10 PM were trading at ₹47.99, showing a 2.34% decline during the day. Over the past month, the stock has dropped 9.01%, and over the past year, it has fallen by 19.95%. However, over the last five years, the stock has gained 300%.

Considerations

Banks setting up IFSC units must comply with RBI guidelines and IFSC regulations. These units operate under a separate regulatory framework and do not offer regular retail banking services. Instead, they focus on trade finance, external commercial borrowings, foreign currency lending, and wealth management services for international clients.

Market Presence

Bank of Maharashtra, headquartered in Pune, operates with a presence across India. The addition of an IFSC Banking Unit in GIFT City extends its operational scope beyond domestic banking, aligning with other financial institutions in recent years.

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.

Glenmark Pharmaceuticals Inc., USA, has launched Latanoprost Ophthalmic Solution, 0.005% (0.05 mg/mL) in the US market. This product is bioequivalent and therapeutically equivalent to Xalatan® Ophthalmic Solution, 0.005%, manufactured by Upjohn US 2 LLC.

Market Size and Competition

The market for Xalatan® Ophthalmic Solution saw annual sales of approximately $113.5 million for the 12-month period ending December 2024, according to the reports. Latanoprost is commonly prescribed for glaucoma and ocular hypertension, conditions that lead to increased pressure in the eye. 

With multiple generic versions already available, Glenmark enters a competitive segment where pricing and distribution strength will determine market share.

Glenmark’s Ophthalmic Portfolio

This is Glenmark’s fourth ophthalmic product in the US, adding to its growing presence in this segment. Marc Kikuchi, President & Business Head, North America, noted that the company is expanding its ophthalmic portfolio to strengthen its market position in the category.

Global Presence

Glenmark Pharmaceuticals Ltd. is present in branded, generic, and OTC segments across respiratory, dermatology, and oncology. The company has 11 manufacturing facilities across four continents.

Ranked among the Top 100 bio-pharmaceutical companies by sales in 2023, Glenmark was also placed in the Top 50 generics and biosimilar companies by sales in 2024. It is one of only two Indian pharmaceutical firms with Science Based Target Initiative (SBTi)-approved greenhouse gas (GHG) emission reduction targets as of 2023.

Market Reaction

Shares of Glenmark Pharmaceuticals traded 2.93% lower at ₹1,410 on the BSE around 9:57 AM following the announcement. The stock has dropped 12.18% in the past month but is still up 67% 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. 

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British American Tobacco (BAT), a long-time shareholder in ITC Limited, has announced its intention to exit its stake in ITC Hotels by 2026. The company, which currently holds a 15.3% stake in the hospitality arm of ITC, has made it clear that it does not seek to be a long-term shareholder in the Indian hotel industry. The current valuation of BAT’s holding in ITC Hotels stands at ₹5,405 crore ($623 million).

During its FY24 earnings call, BAT’s Chief Executive Officer, Tadeu Marroco, reiterated the company’s position, stating, “We have no interest in becoming a long-term shareholder of a hotel chain in India.” BAT aims to determine the most opportune time for the sale to maximise value for its shareholders.

A Gradual Reduction in ITC Holdings

BAT has been steadily reducing its stake in ITC Ltd over time. In 2023, the company sold 3.6% of its stake in ITC Ltd for £1.57 billion. The proceeds were utilised to restart its share buyback programme, which was introduced in response to shareholder preferences.

Following this transaction and ITC’s extended Employee Stock Ownership Plan (ESOP), BAT’s holding in ITC Ltd declined to 25.4%, with the remaining stake currently valued at approximately $15 billion.

Demerger of ITC Hotels and BAT’s Stake

BAT’s stake in ITC Hotels emerged as a result of ITC Ltd’s demerger process. Under this corporate restructuring:

• ITC Hotels issued equity shares directly to ITC Ltd’s shareholders.
• ITC Ltd retained a 40% stake in its hotel subsidiary.
• The remaining shares were distributed among equity holders in proportion to their existing stakes.

This restructuring left BAT with a 15.3% stake in ITC Hotels, while Life Insurance Corporation of India (LIC), the country’s largest insurer, holds 9.2% of the hospitality entity.

Utilisation of Sale Proceeds

BAT has outlined its plans for the funds generated from the sale of its ITC Hotels stake. According to Marroco, the proceeds will be used to reach the company’s leverage corridor of 2-2.5 by 2026. This move is in line with BAT’s broader financial strategy to optimise capital allocation.

Market Reaction to BAT’s Announcement

Following BAT’s disclosure of its divestment plans, ITC Hotels’ share price saw a decline, trading 2.75% lower as of 10:39 AM on 14 February 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. 

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

Premier Energies Ltd. announced on Friday, February 14, that it has secured an order worth ₹1,234 crore for the supply of solar photovoltaic (PV) modules. The company has received two orders from its existing customers, reinforcing its strong presence in the renewable energy sector. The scheduled commencement for the supply of these modules is set for April 2025.

Following this announcement, the company’s share price showed marginal gains. As of 10:14 AM on the National Stock Exchange (NSE), Premier Energies’ stock was trading in the green, up by 0.07%.

A Leading Player in India’s Solar Manufacturing Sector

Founded in 1995 by Mr Surender Pal Singh, Premier Energies has grown into one of India’s largest integrated solar cell and module manufacturing companies. The company operates multiple high-capacity production lines across various locations in Telangana:

• Annaram Facility: 300 MW module manufacturing capacity.
• Raviryal Facility (PEPPL – 100% subsidiary): 1,400 MW module and 750 MW cell manufacturing capacity.
• Telangana Facility (PEIPL – 74% subsidiary): 1.6 GW module and 1.25 GW cell manufacturing capacity.
• PEGEPL (100% subsidiary): 1.1 GW module manufacturing capacity.

As of June 2024, Premier Energies had a total module capacity of 4.1 GW and a cell capacity of 2 GW. While the majority of its revenue is derived from module and cell production, the company also generates a small portion of its earnings from the solar EPC (engineering, procurement, and construction) business.

Financial Performance in Q3FY25

Premier Energies reported strong earnings growth in the third quarter of FY25, surpassing market expectations. The company registered a 490.58% increase in profit after tax (PAT), reaching ₹255.22 crore compared to ₹43.21 crore in Q3FY24.

Key financial highlights from Q3FY25:

• Revenue from operations: ₹1,713.32 crore, a 140.47% YoY growth (from ₹712.84 crore in Q3FY24).
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA): ₹549.57 crore, a 337.76% surge from ₹125.48 crore in Q3FY24.

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.

Texmaco Rail & Engineering Limited, a key player in India’s railway and infrastructure sector, has entered into a strategic partnership with Trinity Rail Group LLC, a leading provider of rolling stock leasing and manufacturing solutions in North America. This collaboration formalised through a Global Supply & Services Agreement, aims to drive innovation, enhance rail infrastructure, and expand business opportunities across global markets.

Texmaco Rail & Engineering’s share price opened at ₹153.50 and at 9:55 AM, the stock was trading lower by 1.50% on NSE. 

Key Aspects of the Agreement

This partnership brings together the expertise of Texmaco and Trinity Rail to focus on multiple areas of cooperation:

1. Joint Design and Development

Texmaco and Trinity Rail will work together to design, develop, and innovate rolling stock and related components for both Indian and international markets. The collaboration is expected to integrate advanced technology to improve freight rail efficiency.

2. Texmaco’s Role as a Strategic Supplier

Under the agreement, Texmaco will become a key supplier of rolling stock components, including foundry products, to North America and other global regions.

3. Technology and Training Integration

Trinity Rail will bring its advanced technology solutions and expertise to support the development of next-generation rolling stock. This includes designing freight railcars with higher payload capacities suited for Indian Railways, private customers, and global markets.

4. Establishment of a Global Capability Centre (GCC)

A new innovation hub will be set up in Faridabad, India, to drive cutting-edge developments in rail technology. This centre will focus on research, innovation, and the integration of new designs.

5. Expansion Beyond India and North America

Beyond catering to existing markets, the alliance will explore new opportunities to introduce advanced freight car designs and expand Texmaco’s global footprint.

About Texmaco Rail & Engineering Limited

Texmaco Rail & Engineering Limited, part of the Adventz Group, is a prominent entity in the railway and infrastructure sector. The company operates across three segments—Freight Cars, Infra – Rail & Green Energy, and Infra – Electrical. With manufacturing facilities in West Bengal, Gujarat, and Chhattisgarh, Texmaco supplies freight cars to Indian Railways, private sector clients, and export markets.

Texmaco has established joint ventures with global firms like Wabtec and Touax, reinforcing its market presence. As a leading exporter, the company plays a crucial role in the ‘Atmanirbhar Bharat’ initiative, strengthening India’s position in global railway manufacturing.

About Trinity Rail Group LLC

Trinity Rail Group LLC is a global leader in freight rail leasing and manufacturing, providing advanced solutions for the North American market. With decades of experience, Trinity focuses on improving rail efficiency through cutting-edge technology and sustainable practices. The company remains dedicated to advancing the future of freight transportation through continuous innovation and strategic collaborations.

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.

RITES Limited, a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with Neyveli Uttar Pradesh Power Limited (NUPPL). The agreement pertains to the comprehensive operation and maintenance of the NUPPL/GTPP railway siding, reinforcing RITES’ expertise in railway project execution.

At 9:45 AM, RITES’ share price was trading at ₹212.70 on the NSE, down by 0.51%.

Key Details of the Agreement

The MoU outlines the operational scope, financial considerations, and execution timeline, reflecting the strategic importance of the contract.

Contracting Entity

The order has been awarded by Neyveli Uttar Pradesh Power Limited (NUPPL), a joint venture between Neyveli Lignite Corporation India Limited (a Government of India enterprise) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (a Government of Uttar Pradesh enterprise).

Nature of Work

The project involves the comprehensive operation and maintenance of the railway siding at NUPPL/GTPP, ensuring smooth logistics and railway infrastructure support.

Contract Tenure

The contract is set for a 5-year period, demonstrating RITES’ long-term involvement in the power and rail infrastructure sector.

Order Value

The total contract value is ₹120.13 crore (excluding GST and escalation costs), highlighting the project’s scale and significance.

Domestic Contract with No Promoter Involvement

• The order has been secured from a domestic entity, reinforcing RITES’ position in the Indian infrastructure sector.
• There is no involvement of the promoter group or related parties in awarding this contract, ensuring a transparent transaction.

Financial Performance 

RITES operating revenue (consolidated), excluding other income, stands at ₹576 crore in Q3FY25 as against ₹683 crore in Q3FY24, a dip of 15.7%. Total revenue is ₹614 crore as against ₹700 crore in Q3FY24. EBITDA and PAT stand at ₹123 crore and ₹109 crore with margins of 21.3% and 17.8%, respectively. Year-on-year, there is a decrease in revenue which is attributed to lesser revenue from quality assurance, a downtick in turnkey and no exports.  

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.

The Share price of Anupam Rasayan India Ltd. witnessed a surge of over 6% early in the day on February 14, 2025, after the company announced a significant supply agreement. The firm signed a Letter of Intent (LOI) with a leading US-based multinational corporation to supply a high-performance speciality chemical used in critical polymer applications.

Long-Term Contract and Revenue Impact

The agreement spans 10 years, with projected cumulative sales of $195 million (₹1,697 crore). This long-term deal is expected to enhance the company’s revenue visibility and strengthen its global partnerships. The speciality chemical will be manufactured using Anupam Rasayan’s existing facilities, ensuring operational efficiency.

Strategic Expansion in High-Growth Segments

The company’s CEO, Gopal Agrawal, said “We are honoured to partner with a US multinational, a global pioneer in innovation and technology. This LOI underscores our capability to deliver advanced, tailor-made chemical solutions for Polymer applications such as defence and aeronautics. We have been working on the development of this product for the last three years, investing significant time in trials and validation to ensure its performance meets the highest industry standards. The speciality chemical we are supplying will play a pivotal role in enhancing performance and ensuring safety under the most challenging conditions. Furthermore, this collaboration enables us to diversify our portfolio into a strategic market segment, which we regard as a cornerstone of our growth strategy.” 

About Anupam Rasayan

Established in 1984, Anupam Rasayan is one of India’s leading custom synthesis and speciality chemical manufacturers. The company operates six manufacturing facilities in Gujarat with a total capacity of 30,000 MT. It serves 71 domestic and international customers, including 31 multinational corporations, across various industries such as agrochemicals, personal care, pharmaceuticals, and polymer additives.

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.