Reliance Industries Limited (RIL) is India’s largest private-sector enterprise, with a diversified business portfolio spanning energy, petrochemicals, retail, and digital services. Originally founded in the late 1970s as a textile company, RIL has expanded through backward and vertical integration into polyester, fibre intermediates, plastics, petrochemicals, petroleum refining, and oil and gas exploration. This strategic approach has positioned RIL as a global leader, making it the world’s largest polyester yarn and fibre producer and one of the top 10 petrochemical producers globally.

Beyond hydrocarbons, RIL has a significant presence in retail, oil marketing, and digital services through its subsidiaries. The company has gained market leadership in India’s digital services and retail sectors, with both segments contributing substantially to its profitability.

Reliance Industries Share Price Movement on Budget Day

On Budget Day, February 1, 2025, the share price of Reliance Industries opened at ₹1,265.10, reflecting a near-flat movement compared to the previous trading session’s close. During intraday trade, the stock touched a high of ₹1,270.55 on the National Stock Exchange (NSE). However, by 1:26 PM, the stock had declined by 1.23%, trading at ₹1,250.10.

Reliance Industries Stock Performance: A Shift in Trend

For the first time in nearly a decade, Reliance Industries’ share price registered a negative return in CY2024, declining by almost 6%. Since 2015, the stock has been on an upward trajectory, delivering consistent returns to investors. However, market conditions, economic policies, and sectoral headwinds contributed to the downturn in 2024.

Despite the setback in the previous year, Reliance Industries has started CY2025 on a positive note, showing signs of recovery. As of February 1, 2025, the stock has gained nearly 3% year-to-date. 

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

In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced a significant push for broadband connectivity in schools across India. The government aims to leverage the BharatNet project to expand high-speed internet to educational institutions, ensuring digital access for students even in the most remote regions. This move aligns with the broader vision of digital inclusion, potentially increasing opportunities for companies involved in broadband expansion and network services.

Atal Tinkering Lab Union Budget 2025

As part of the Union Budget 2025-26, Finance Minister Nirmala Sitharaman unveiled a significant initiative to strengthen STEM (Science, Technology, Engineering, and Mathematics) education. The government plans to expand the Atal Tinkering Lab (ATL) programme to 50,000 government schools over the next 5 years. This expansion aims to foster creativity, critical thinking, and practical learning among students, ensuring they can apply theoretical concepts to real-world challenges more effectively.

What is BharatNet?

BharatNet is a government-led initiative designed to provide high-speed broadband connectivity to rural and underserved areas of India. Launched in 2011, the project utilises an optical fibre network to connect villages and towns, ensuring affordable internet access to schools, healthcare centres, and other public institutions. By enabling digital services for rural communities, BharatNet plays a pivotal role in bridging the urban-rural digital divide.

BharatNet’s Impact on School Connectivity

The increased investment in BharatNet will extend high-speed internet to schools, particularly in underserved regions. This initiative will:

• Enhance Digital Learning: Students will gain access to online platforms, educational videos, and digital resources for better learning outcomes.
• Support Teacher Training: Teachers can access professional development programmes, equipping them with digital skills for improved instruction.
• Streamline Government Initiatives: Better connectivity will ensure the efficient delivery of educational schemes and resources nationwide.

Stocks That Could Benefit from BharatNet Expansion

Several telecom and infrastructure companies stand to gain from the BharatNet broadband expansion. These companies are instrumental in providing broadband services, laying optical fibre networks, and enhancing internet connectivity. Some key players include:

HFCL (Himachal Futuristic Communications Limited)

HFCL is a leading provider of telecom infrastructure and optical fibre cable manufacturing in India. Given BharatNet’s reliance on fibre optic connectivity, HFCL is well-positioned to benefit from increased demand for broadband expansion.

Bharti Airtel

As one of India’s largest telecom service providers, Bharti Airtel is actively expanding its broadband network. The government’s focus on increasing internet access in schools could contribute to higher revenues for Airtel’s broadband segment.

Reliance Jio (via Reliance Industries)

Reliance Jio, through its extensive fibre-optic network, is a key player in India’s broadband sector. Jio’s involvement in digital initiatives aligns well with BharatNet’s expansion, potentially leading to increased data consumption and subscriber growth.

Vodafone Idea

While facing financial challenges, Vodafone Idea remains a significant broadband and telecom provider in India. The government’s push for expanded connectivity could provide potential growth opportunities for the company.

Tejas Networks

Tejas Networks specialises in telecommunications networking products and has been a beneficiary of government-led broadband projects. BharatNet’s expansion could further drive demand for its high-speed internet solutions.

MTNL (Mahanagar Telephone Nigam Limited)

MTNL, a state-owned telecom service provider, plays a crucial role in expanding broadband services, especially in metropolitan regions. BharatNet’s expansion could provide new opportunities for MTNL’s broadband and network infrastructure segments.

ITI Limited

ITI Limited, a government-owned telecom equipment manufacturer, contributes to India’s telecom infrastructure. The company could benefit from increased demand for network components and broadband expansion under BharatNet.

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 Union Budget 2025-26 brought a sharp rally in footwear stocks as Finance Minister Nirmala Sitharaman introduced a new policy for the leather and footwear industry. The announcement, made during her budget speech in the Lok Sabha, included a dedicated scheme to improve productivity, boost quality, and support manufacturing in the sector.

Gains in Footwear Stocks

Following the announcement, multiple footwear stocks saw gains. Relaxo Footwears surged 8.97% to ₹598.75, while Liberty Shoes climbed 8% to ₹425.80. Bata India touched ₹1,335, rising nearly 3%. Other footwear companies, including Mirza International and Campus Activewear, recorded increases of 13.46% and 5.54%, respectively. Sreeleathers and Lehar Footwears also saw moderate gains.

Government’s Focus on Growth and Employment

The finance minister talked about how the scheme is expected to create employment for 22 lakh people. The sector is projected to reach a turnover of ₹4 lakh crore, with exports exceeding ₹1.1 lakh crore. 

The policy aims to support both leather and non-leather footwear manufacturing, including improving design capacity, component production, and machinery.

Market Reaction and Broader Implications

The footwear sector was among the notable beneficiaries of the budget, with stocks reacting positively. Meanwhile, the broader market saw volatility as the Sensex and Nifty 50 fluctuated during the speech. Historically, Budget Day trading sessions see movements within a 2-3% range, as investors react to various sectoral policies.

Budget Session and Other Announcements

This is Sitharaman’s 8th budget since 2019 and the second under the Modi government’s 3rd term. 

In addition to the footwear policy, the finance minister also introduced measures for infrastructure, banking, and manufacturing, while mentioning plans to develop India as a global toy manufacturing hub.

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

HBL Engineering Limited, formerly known as HBL Power Systems Limited, has received an order worth ₹410.42 crore (inclusive of 18% GST) from the Ahmedabad Division of Western Railway. The order has been issued to the HBL-Shivakriti Consortium, where HBL Engineering is the lead member.

Scope of Work

The contract involves the supply and installation of way-side Kavach across two railway sections:

• Ahmedabad-Palanpur section
• Ahmedabad-Samakhiyali section

The total coverage spans 402 km. The project is expected to be completed within 730 days from the issuance of the purchase order.

Kavach Implementation

Kavach is an automatic train protection (ATP) system designed to reduce the risk of train collisions. It works by controlling train speeds and braking when necessary. The Indian Railways has been deploying Kavach across multiple routes to improve safety.

Financial Considerations

The project is classified as a domestic contract. 

HBL Engineering Ltd shares are trading at ₹608.80, up ₹44.70 (7.92%) as of today, February 1, 11:41 AM. While the stock has declined 3.98% over the past month, it has gained 17.83% in the last five days.

Execution Timeline

HBL Engineering and its consortium partner, Shivakriti International, are responsible for implementing the system within the stipulated two-year period. The installation will be carried out in phases across the designated railway sections.

Regulatory Disclosure

This order was disclosed as per Regulation 30 of SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Additional details were provided in compliance with SEBI’s Master Circular No. SEBI/HO/CFD/PoD2/P/0155 dated November 11, 2024, and subsequent updates from December 2024.

The order is another phase in the implementation of Kavach across India’s railway network. The project will be monitored over the next two years as the installation progresses on the Ahmedabad Division routes.

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

Quess Corp Limited has announced that its promoter, Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, has acquired equity shares of the company. This acquisition was conducted through market trades on the stock exchanges and represents a minor percentage of the company’s paid-up capital.

Acquisition Details

Fairbridge Capital (Mauritius) Limited purchased 3,77,218 equity shares of Quess Corp Limited, amounting to 0.25% of the company’s total paid-up capital. The transaction took place on 1st February 2025, as per the disclosure submitted to the stock exchanges. The acquisition aligns with the regulatory framework, and necessary disclosures under SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, 2011, and SEBI’s Prohibition of Insider Trading Regulations, 2015, will be filed accordingly.

Regulatory Compliance

In adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Quess Corp Limited has officially notified the stock exchanges regarding the share purchase. Such acquisitions require timely disclosure to ensure transparency in financial transactions and compliance with regulatory norms. The company has assured that all necessary documentation and regulatory filings will be completed as per SEBI’s guidelines.

Quess Corp Share Performance

As of February 01, 2025, at 1:38 PM, shares of Quess Corp are trading at ₹622.70 per share up by 6.30% from its previous day’s closing price. The stock has fallen by 6.35% over the past month

Conclusion

The acquisition by Fairbridge Capital (Mauritius) Limited indicates continued confidence in Quess Corp Limited. The company has fulfilled its disclosure obligations under SEBI regulations, ensuring compliance with market regulations.

 

Tata Power subsidiary Tata Power Renewable Energy Limited (TPREL) has signed a Memorandum of Understanding (MoU) with Rajasthan’s power distribution companies (Discoms) to promote rooftop solar adoption. 

The agreement includes Jaipur Vidyut Vitran Nigam Limited (JVVNL), Ajmer Vidyut Vitran Nigam Limited (AVVNL), and Jodhpur Vidyut Vitran Nigam Limited (JDVVNL) and focuses on implementing the Pradhan Mantri Surya Ghar: Muft Bijali Yojana (PMSG: MBY) in residential areas.

Focus Areas

The partnership aims to increase solar installations in Rajasthan, starting with cities like Jaipur, Udaipur, Jodhpur, Kota, and Bikaner before expanding to other regions. This will involve awareness programs, vendor training, and cost-effective solutions to encourage more households to adopt solar energy.

Officials Present at the Signing

The MoU was signed in the presence of Additional Chief Secretary – Energy, Alok, and Chairperson of Rajasthan Discoms, Arti Dogra. Other attendees included Deepesh Nanda, CEO & Managing Director of TPREL, and Shivram Bikkina, Chief of Solar Rooftop & EV Charging Business at TPREL. 

Senior officials from Rajasthan Discoms and representatives of the PMSG: MBY scheme were also part of the signing event.

Rajasthan’s Solar Energy Push

Rajasthan has been focusing on increasing its renewable energy capacity, and this partnership is part of that larger plan. The state already has a major presence in solar energy, and rooftop installations are seen as a way to expand its renewable portfolio while providing cost-efficient energy alternatives to households.

With the initial phase targeting major cities in Rajasthan, further expansion will depend on adoption rates and infrastructure readiness. 

TPREL’s Role

TPREL has been involved in various renewable energy projects across the country. Under this MoU, the company will work with Rajasthan Discoms to streamline solar adoption, provide pricing for installations, and train local vendors for better execution.

Tata Power Company Ltd was trading at ₹372.75, up ₹20.60 (5.85%) today as of Feb 1, 12:14 PM, but has declined 5.08% over the past month and 4.23% 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

Niranjan Gupta has resigned as the CEO of Hero MotoCorp, with his departure effective April 30, 2025. The company announced that Vikram Kasbekar, currently the Executive Director (Operations), will take over as acting CEO from May 1, 2025, until a permanent replacement is found.

Management Reshuffle

Along with the CEO transition, Hero MotoCorp has made several leadership changes:

• Ram Kuppuswamy, Chief Procurement Officer, will take on an expanded role as Chief Operations Officer (COO) – Manufacturing from April 1, 2025.
• Ashutosh Varma, National Sales Head – India Business Unit, will become Chief Business Officer (CBO) – IBU from May 1, 2025, replacing Ranjivjit Singh.
• Jyoti Singh, currently Head HR – R&D, will be elevated to Deputy Chief Human Resources Officer on February 1, 2025.

Niranjan Gupta’s Background

Gupta, who joined Hero MotoCorp in 2017, served as CFO before being promoted to CEO in 2023. His tenure included financial restructuring and partnerships with brands like Harley-Davidson. Before Hero MotoCorp, he worked at Vedanta and Unilever.

EV Unit Becomes Independent

Hero MotoCorp announced that its EV & Emerging Mobility Business Unit (EMBU) will operate independently starting February 1, 2025. The division will report to Executive Chairman Pawan Munjal.

The company’s board is to meet on February 6, 2025, to discuss and approve the unaudited financial results for the quarter and nine-month period ending December 31, 2024.

Financial Performance

The company reported a consolidated net profit of ₹1,045.89 crore in Q2 FY25, a 26.29% increase from the previous year. Revenue from operations rose by 15.4% to ₹10,210.79 crore.

Following the announcement, Hero MotoCorp’s stock fell 1.18% to ₹4,289.65. Despite this, shares had closed 3.84% higher at ₹4,340.85 the previous day. However, today, Hero MotoCorp Ltd shares are trading at ₹4,266.70 as of 12:01 PM on February 1, up 2.13% today, recovering 5.77% over the past five days but still down 20.55% in the last six 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

Ganesha Ecosphere Limited (GESL) has signed a joint venture agreement with Race Eco Chain Limited (RACE) to set up washing plants to produce PET flakes. The joint venture company, named Ganesha Recycling Chain Private Limited, is expected to strengthen the supply chain for PET waste.

Ownership and Investment Details

Under the agreement, RACE will hold a 51% stake, while Ganesha will own 49% of the joint venture. Both companies will have equal representation on the Board of Directors.

For this venture, Ganesha has subscribed to 29,40,000 equity shares at ₹10 each, amounting to ₹29.4 crore. RACE has subscribed to 30,60,000 equity shares at ₹10 each, totalling ₹30.6 crores.

Purpose of the Joint Venture

The joint venture is part of Ganesha’s strategy to improve its raw material supply chain for PET waste. PET flakes are widely used in manufacturing recycled polyester fibre, which has applications in textiles and packaging.

Both companies have the right to appoint an equal number of directors to the board. Other terms include:

• Right to first share subscription in case of issuance
• Restrictions on changes to the capital structure

Financials of the Companies

As per the FY24 financial statements, Ganesha Ecosphere recorded a revenue of ₹9,753.40 crore and a net worth of ₹10,891.52 crore, while Race Eco Chain reported a revenue of ₹3,384.98 crore with a net worth of ₹222.87 crore.

As of February 1, 11:54 AM, Ganesha Ecosphere Ltd is trading at ₹1,690.00, up 3.30% (₹53.95) today, but has declined 14.05% over the past month, while gaining 9.53% in the last five days. 

Meanwhile, Race Eco Chain Ltd is at ₹339.05 as of 11:56 AM, rising 2.60% (₹8.60) today, with a 10.34% drop over the past month but a 3.38% gain in the last five days.

Industry Context

India generates around 3.5 million tonnes of PET waste annually. The joint venture is expected to increase waste processing capacity and improve the supply of raw materials for recycled products.

The agreement is not a related party transaction, and neither company is part of the other’s promoter group. There are no conflicts of interest arising from the 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

WeWork India, backed by the Embassy Group, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company, which operates flexible workspaces across major Indian cities, is looking to raise funds through a public listing.

IPO Structure

The IPO will be entirely an offer-for-sale (OFS) of 4.37 crore equity shares. There will be no fresh issue component. Embassy Buildcon LLP, the promoter, will sell 3.34 crore shares, while investor 1 Ariel Way Tenant will offload 1.03 crore shares.

Since this is a pure OFS, the company will not receive any proceeds from the IPO. The funds will go directly to the selling shareholders after deducting applicable expenses and taxes.

Ownership and Business Overview

WeWork India is primarily owned by Embassy Buildcon LLP, which holds a 76.21% stake. The remaining 23.45% is owned by other public shareholders, including 1 Ariel Way Tenant. The Embassy Group, the real estate developer in India with over 85 million square feet of commercial space, is the company’s promoter.

WeWork India, headquartered in Bengaluru, has been operating since 2017 under an exclusive licensing agreement with the global WeWork brand. The company runs 59 centres across office markets, including Bengaluru, Mumbai, Pune, Hyderabad, Gurgaon, Noida, Delhi, and Chennai. Its total leasable area is 6.48 million square feet, with 94,440 desks.

Financials

For FY24, the company reported a loss of ₹135.8 crore, lower than the ₹146.8 crore loss in the previous year. Revenue increased by 26.7%, reaching ₹1,665.1 crore, up from ₹1,314.5 crore in FY23. In the first six months of FY25 (April-September 2024), WeWork India posted a profit of ₹174.6 crore on revenue of ₹918.2 crore.

Merchant Bankers and Competition

JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company, and 360 ONE WAM have been appointed as the book-running lead managers for the IPO.

WeWork India’s listed competitor in India is Awfis Space Solutions. Another managed workspace provider, IndiQube Spaces, filed IPO papers in December 2024 to raise ₹850 crore.

The company has stated that it does not plan to conduct a pre-IPO placement before the listing.

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