Life Insurance Corporation of India (LIC), the country’s largest insurer, has been issued a demand notice amounting to ₹105.42 crore for the alleged short payment of Goods and Services Tax (GST). The notice, covering multiple states, includes interest and penalties for a period spanning seven financial years. LIC has acknowledged the communication in a regulatory filing and stated that it has the option to appeal the order.

Details of the Demand Notice

LIC received the demand notice on 5 February 2025, which pertains to GST liabilities for the financial years 2017-18 to 2023-24. The notice has been issued by tax authorities across multiple states, seeking additional payments along with interest and penalties. The corporation clarified that the order is appealable before the Commissioner (Appeals), Lucknow, and that necessary steps will be taken in accordance with the legal framework.

Impact on LIC’s Financials and Operations

Despite the sizeable tax demand, LIC has assured stakeholders that there will be no material impact on its financial position, operations, or activities. The company remains confident in managing its regulatory obligations and compliance measures. While the demand includes financial implications, LIC has maintained that its overall stability and business performance will not be affected.

LIC Share Performance

As of February 06, 2025, at 10:30 AM, the shares of LIC are trading at ₹838.35 per share, reflecting a decline of 0.51% from its previous day’s closing price. The stock has experienced a decline of 4.28%. While over the year, it has registered a decline of 18%. The stock has a 52-week high and low of ₹1,222.00 and ₹805.00 per share respectively.

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.

Alldigi Tech Limited, formerly known as Allsec Technologies Limited, has announced a strategic partnership with LuLu Financial Holdings, a global financial services provider based in the UAE. This collaboration aims to redefine payroll and HR management solutions for small and medium enterprises (SMEs) across the Middle East and Africa (MEA) region.

Alldigi Tech, a subsidiary of Quess Corp, processes over 1.5 million payslips every month, making it a key player in the payroll industry. By integrating its expertise with LuLu Financial Holdings’ extensive reach and financial services network, the 2 companies seek to simplify and enhance payroll and HR processes for businesses of all sizes.

Alldigi Tech’s share price was trading 0.20% higher as of 10:51 AM on February 6, 2025.

How the Partnership Benefits SMEs

The partnership will allow LuLu Financial Holdings to integrate Alldigi Tech’s advanced payroll platform into its ecosystem, offering SMEs a seamless and efficient payroll processing experience. The key benefits of this initiative include:

• Automated Payroll Processing: Businesses can now handle salary calculations with greater accuracy, reducing manual efforts and minimising errors.
• Regulatory Compliance: The integrated solution ensures compliance with local payroll regulations, reducing the risk of legal and financial complications.
• Time and Cost Efficiency: By streamlining payroll and HR functions, SMEs can save valuable time and resources, allowing them to focus on business growth.
• Seamless Integration: The solution integrates effortlessly with LuLu Financial Holdings’ offerings, ensuring a hassle-free experience for clients.

Industry Leaders Speak on the Partnership

Commenting on the collaboration, Richard Wason, CEO of LuLu Financial Holdings, said,
“Our mission has always been to provide innovative and accessible financial solutions that meet the diverse needs of the community. Partnering with Alldigi Tech will enable us to offer a simple, cost-effective payroll management solution, helping SMEs reduce administrative burdens and focus on growth.”

Similarly, Naozer Dalal, CEO of Alldigi Tech, highlighted the synergy between the two companies, stating, “We are excited about this partnership as it combines our payroll expertise with LuLuFin’s deep understanding of the SME sector. Together, we are creating a solution that not only addresses the growing demand for payroll automation but also helps businesses run more efficiently and enhance employee satisfaction.”

Empowering SMEs with Technology-Driven Payroll Solutions

Through this collaboration, SMEs will gain access to a simplified, technology-driven payroll solution backed by strong customer support. The partnership combines LuLu Financial Holdings’ local market expertise with Alldigi Tech’s innovative payroll and HRMS technology, helping businesses streamline their payroll processes efficiently.

With an increasing demand for payroll automation, this initiative is set to reshape how SMEs handle workforce management, ensuring both compliance and operational efficiency.

About LuLu Financial Holdings

LuLu Financial Holdings is a leading global financial services provider offering cross-border payments, currency exchange, and financial technology solutions. Operating in over 10 countries across the Middle East, the Indian subcontinent, and the APAC region, the company is known for its commitment to innovation and customer satisfaction.

About Alldigi Tech

Alldigi Tech Limited, formerly known as Allsec Technologies Limited, has been a trusted leader in customer and employee experience management for over 24 years. Backed by Quess Corp and Fairfax Holdings, the company provides payroll and HR management solutions globally, serving over 400 clients, including Fortune 100 companies, across 42 countries.

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

HCLTech, a leading global technology firm, has announced a strategic collaboration with ChargePoint, a prominent provider of networked EV charging solutions. This partnership aims to accelerate innovation in electric vehicle (EV) charging software, a crucial component in the transition towards sustainable mobility.

As of 10:43 AM on February 6, 2025, HCL Tech’s share price was up by 0.20%.

A New Research and Development Hub in Bengaluru

As part of this initiative, HCLTech has inaugurated an advanced research and development (R&D) centre for ChargePoint in Bengaluru, India. This facility will serve as a central hub for ChargePoint’s software development efforts, leveraging HCLTech’s extensive engineering expertise to create scalable and customisable EV charging experiences.

Speaking at the launch event, Rick Wilmer, CEO of ChargePoint, highlighted the strategic importance of India in the company’s growth journey. “India has long been vital to our success, and this is a critical region for our software development. We aim to recruit the brightest talent for this new facility to develop products that will shape the future of our industry,” he said.

Strengthening the EV Charging Ecosystem

With the increasing global adoption of EVs, reliable and efficient charging infrastructure is crucial. HCLTech’s role in this collaboration is to enhance ChargePoint’s innovation strategy by integrating its advanced engineering capabilities into the development of next-generation EV charging technologies.

Ajay Bahl, Chief Growth Officer, Americas, Manufacturing, and Allied Industries at HCLTech, expressed enthusiasm about the partnership: “We are pleased to be a part of ChargePoint’s EV innovation journey and accelerate the transition towards sustainable mobility solutions. HCLTech’s comprehensive portfolio will contribute to ChargePoint’s mission to delight customers with superior charging experiences.”

About HCLTech

HCLTech is a global technology leader, operating across 60 countries with a workforce of over 220,000 professionals. The company provides cutting-edge solutions in digital, engineering, cloud, and AI, serving industries such as financial services, manufacturing, healthcare, telecommunications, and retail. For the 12 months ending December 2024, HCLTech reported consolidated revenues of $13.8 billion.

About ChargePoint

ChargePoint has been at the forefront of EV charging solutions since 2007, building one of the largest EV charging networks worldwide. Its cloud-based subscription platform and software-defined charging hardware cater to a diverse range of needs, including home, workplace, retail, and fleet charging. ChargePoint’s solutions are designed to make EV adoption seamless for businesses and drivers across North America and Europe.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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

Apollo Micro Systems Ltd., established in 1985 and headquartered in Hyderabad, stands as a distinguished leader in the design, development, and assembly of bespoke electronic and electro-mechanical solutions.

Consortium Agreement with Redon Systems Pvt Ltd

In a strategic move to bolster India’s defence manufacturing capabilities, Apollo Micro Systems has forged a landmark consortium agreement with Redon Systems Pvt Ltd. This collaboration aims to spearhead the production of state-of-the-art loitering munition systems and allied technologies, reinforcing India’s ambition towards self-reliance in defence technologies.

Pioneering Defence Consortium

The alliance between Apollo Micro Systems and Redon Systems Pvt Ltd will harness their combined expertise to jointly develop and manufacture advanced Containerised Automatic Landing Module systems. Redon Systems, renowned for its cutting-edge loitering munition technology, has successfully showcased its products to the Indian Armed Forces, cementing its reputation as a trusted partner in defence innovation.

This strategic partnership is set to significantly elevate Apollo Micro Systems’ prominence within the defence sector, positioning the company as a pivotal player in fulfilling India’s critical defence manufacturing requirements.

Impressive Financial Performance

Apollo Micro Systems delivered outstanding Q2 FY25 results, with revenue surging 85% to ₹206 crore and net profit soaring 105% to ₹21 crore compared to ₹10.2 crore in Q2 FY24. Backed by a robust order book of ₹1,375 crore and strong demand for defence and aerospace solutions, the company remains confident of exceeding its 45% revenue growth target for FY25.

Apollo Micro Systems Ltd: Share Price and Market Performance

On 6 February 2025, Apollo Micro Systems Ltd. commenced trading at ₹130.70, marking a 1.98% rise from its prior closing price of ₹128.20. The stock demonstrated impressive momentum, surging to an intraday high of ₹134.90, a notable gain of 5.24%, while touching a low of ₹129.20.By 12:49 PM, the share was trading at ₹130.92, reflecting a 2.15% increase, reinforcing investor confidence. With a commanding market capitalisation of ₹4,015.01 crore.

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.

Oswal Greentech Limited, established in 1981 and headquartered in New Delhi, India, predominantly operates in real estate development and strategic investments. The company’s activities span trading real estate assets, equity investments, and extending inter-corporate deposits.

Oswal Greentech Limited Acquired 4.97% Stake in OAML

In a significant move to bolster its influence and reaffirm its commitment to stakeholders, Oswal Greentech, the promoter of Oswal Agro Mills Limited (OAML), has recently acquired a 4.97% stake, equivalent to 66,82,109 shares, in OAML. 

Prior to this acquisition, Oswal Greentech held 1,000 equity shares in the company. While the acquisition does not stem from any immediate operational necessity, it aims to enhance market confidence, provide strategic agility, and consolidate the promoters’ control over the enterprise.

About Oswal Agro Mills Limited (OAML)

Oswal Agro Mills Limited, founded in 1979, operates across key sectors, including real estate development, commodity trading, and investment management. The company also lends surplus funds as interest-bearing inter-corporate deposits. In FY24, Oswal Agro Mills reported a turnover of ₹1.86 crore. Prominent stakeholders in the company include Aruna Oswal with a 41.74% holding, Shallu Jindal with 0.12%, and Pankaj Oswal holding 0.06%.

Oswal Greentech Limited Q2 FY25 Results

Financially, Oswal Greentech witnessed a promising turnaround in the second quarter of FY2024-2025, reporting a net profit of ₹3.94 crore compared to a net loss of ₹3.23 crore in the corresponding period of the previous year. Year-over-year net sales surged by 31.69%, reaching ₹14.96 crore.

Despite this resurgence, the company faces hurdles in sustaining profitability. Profitability experienced a dramatic 221.88% year-over-year decline, coupled with a 15.71% dip compared to the preceding quarter. Additionally, the operating profit margin turned negative at -1.74%, slipping from 4.42% in the previous quarter.

Oswal Greentech Ltd. Share Price and Performance 

At 12:17 PM today, Oswal Greentech Ltd. shares traded at ₹46.83 per share on the NSE.

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.

Vishnu Prakash R Punglia Limited is a distinguished infrastructure development firm based in India, renowned for its expertise in delivering high-calibre projects spanning water supply systems, roads, highways, bridges, and irrigation networks. 

Vishnu Prakash R Punglia Limited Got LOA From BHEL

Vishnu Prakash R Punglia Limited recently celebrated a monumental achievement by securing a prestigious Letter of Award from Bharat Heavy Electricals Limited (BHEL). This coveted contract, valued at ₹247.55 crore, pertains to the civil, structural, and architectural works for the expansive 1X800 MW NTPC Sipat Project.

Details about Project

The project’s comprehensive scope encompasses pivotal construction activities within the Power Block Area, including the Power House, Boiler, Electrostatic Precipitator (ESP), Mill & Bunker, Transformer Yard, Turbine Generator (TG), Boiler Feed Pump (BFP), Fan Foundations, Flue Gas Desulphurisation (FGD) system, and Chimney Raft. 

Additional undertakings include paving works, the installation of sewage water lines, low-pressure piping and fire-fighting civil works, rooftop solar system foundations, worker accommodation, and ventilation ducting.

Vishnu Prakash R Punglia Limited Q2 FY25 Results

Vishnu Prakash R Punglia Limited also showcased impressive financial performance in its Q2 FY25 results. Revenue surged by approximately 13% year-on-year to ₹3,348.69 million, up from ₹2,964.39 million in Q2 FY24, driven by enhanced operational efficiency and accelerated project execution. Net profit climbed by 12% to ₹237.33 million compared to ₹212.46 million in the same period last year.

Despite these commendable gains, earnings per share (EPS) saw a modest decline to ₹1.90 from ₹2.05 in Q2 FY24, while profit margins edged down to 7.0% from 7.2%, largely attributable to elevated expenses. Nonetheless, the robust growth trajectory underscores the company’s strategic prowess and operational resilience.

Vishnu Prakash R Punglia Ltd. Share Price and Performance

At 11:46 AM today, Vishnu Prakash R Punglia Ltd. shares traded at ₹217.65 per share on the NSE.

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.