BHEL Share Price Surges on Signing MoU with Nuovo Pignone for Fertiliser Sector Projects

In a strategic move to expand its footprint in India’s industrial equipment sector, Bharat Heavy Electricals Limited (BHEL) has signed a Memorandum of Understanding (MoU) with Nuovo Pignone International s.r.l. a renowned international engineering firm. This 10-year agreement signifies a major development in BHEL’s efforts to address compressor train revamp opportunities within the country’s fertiliser sector. The partnership underscores BHEL’s commitment to enhancing its capabilities by collaborating with globally reputed entities, without forming a new joint venture or exchanging equity.

Scope and Structure of the Partnership

The essence of the agreement lies in a collaborative business model where BHEL will act as the lead bidder for identified projects in the Indian fertiliser industry, while Nuovo Pignone International will serve as the nominated vendor. The MoU clearly defines the responsibilities of each party without the formation of a new legal entity, ensuring a streamlined approach to execution. Importantly, no upfront consideration has been exchanged, and each organisation will execute its defined scope of work.

Notably, the agreement does not involve related party transactions, and neither the promoter group nor any associated entities have an interest in the international partner. The ten-year duration of the MoU, effective from 9 April 2025, provides a substantial window for the companies to explore and execute targeted projects.

Strategic Implications and Market Impact

The collaboration is anticipated to yield tangible benefits, particularly in terms of market share expansion for BHEL within the renovation and modernisation (R&M) segment of the fertiliser sector. Through this alliance, BHEL is positioned to capture a significant share—approximately 50% in financial terms—of the compressor revamp market in India. This initiative aligns with the company’s broader objective to increase its competitiveness and capabilities in capital-intensive industrial projects.

By leveraging the technological and engineering prowess of Nuovo Pignone, BHEL can deliver enhanced value to its clients while simultaneously establishing itself as a dominant player in the sector. The partnership is strategically crafted to ensure mutual growth, operational efficiency, and long-term market relevance.

BHEL Share Performance 

As of April 11, 2025, at 9:30 AM, BHEL share price is trading at ₹216.14 per share, reflecting a surge of 2.04% from the previous day’s closing price.Over the past month the stock has surged by 11.34%.

Conclusion

The MoU between BHEL and Nuovo Pignone International marks a crucial step in strengthening India’s industrial infrastructure, particularly in the fertiliser segment. With defined roles, a decade-long commitment, and no capital restructuring, the alliance offers a mutually beneficial platform to address emerging opportunities and foster technological collaboration. Through this initiative, BHEL reinforces its vision of driving growth through strategic global partnerships.

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.

 

EPFO: Employers Can Now Pay Old EPF Dues via One-Time Demand Draft

The Employees’ Provident Fund Organisation (EPFO) has introduced a new option allowing employers to clear pending EPF dues through a one-time demand draft payment. This measure, outlined in a circular dated April 4, 2025, provides an alternative to the existing online process involving Electronic Challan-cum-Return (ECR) and internet banking.

Background

Employers are typically required to deduct EPF contributions from employees’ salaries and deposit them with the EPFO through ECR filings and online payments. However, technical difficulties or delays in ECR filing have, in some cases, resulted in overdue payments. These delays have also led to penalties and complaints from employees.

Request from Field Offices

Field offices of the EPFO had raised concerns about cases where employers, despite being willing to pay, were unable to remit past dues due to ECR-related issues. In response, the EPFO stated that non-acceptance of dues solely due to missed ECR filings should be avoided.

Eligibility and Process

The option to pay via demand draft is limited to one-time payments of past dues only. Employers cannot use this method for future or recurring payments.

Approval from the Officer-in-Charge of the EPFO regional office is required. The officer must confirm:

  • The payment is a one-time request
  • The employer will not use this route for future remittances

If approved, the employer can submit a demand draft payable to the Regional PF Commissioner (RPFC) at the EPFO’s designated bank.

Required Documentation

Employers must provide:

  • An undertaking stating the nature of the payment
  • A list of affected employees
  • ECR filings along with the payment to ensure employee records are updated

Filing Expectations

Even when paying via demand draft, employers must submit ECR data to maintain accurate records. The EPFO has clarified that this offline payment is only a temporary arrangement and regular payments must continue through ECR and online banking.

Conclusion

The provision enables clearance of old dues through a demand draft under specific conditions, without altering the standard EPF remittance process for ongoing and future contributions.

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.

Adani Group’s $750 Million Bond Issue Sees BlackRock as Top Investor

Funds managed by BlackRock have become the largest subscribers in a $750 million private bond issuance by the Adani Group. The U.S.-based asset manager, which manages around $12 trillion in assets, took on approximately one-third of the total issuance. The bonds have a tenure ranging between 3 to 5 years.

Purpose of the Bond Issue

The funds were raised through Renew Exim DMCC, an offshore entity owned by the Adani group promoter family. The capital will be used to finance the acquisition of ITD Cementation and support other growth-related investments.

Acquisition of ITD Cementation

In 2023, the Adani Group announced the acquisition of a 46.64% stake in ITD Cementation for ₹5,888.57 crore from its promoters. Following this, Renew Exim acquired an additional 20.81% through an open offer at ₹400 per share. ITD Cementation is involved in infrastructure projects such as the Jawaharlal Nehru Port Trust and ports in Tuticorin, Mundra, and Vizhinjam.

Other Institutional Participants

Apart from BlackRock, 5 other institutional investors, mainly from the U.S. and Europe, also participated in the bond issue. These include funds managed by Sona Asset Management.

Context of the Investment

As per the news reports, the bond issuance comes amid an investigation involving the Adani Group. In November 2023, the U.S. Department of Justice indicted Adani officials in a bribery-related case. This $750 million raise is Adani’s second private dollar bond issuance. In February, the group raised around $200 million for its Australian port operations.

Conclusion

The $750 million bond issue by Adani Group, with BlackRock as its largest investor, is one of the group’s major fundraising efforts in recent times. The funds are for acquisitions and expansion in the infrastructure sector.

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.

Tata Steel’s Dutch Unit Announces 1,600 Job Cuts in €5 Billion Restructure

Tata Steel Nederland (Netherlands), the Dutch arm of Tata Steel Ltd, has announced plans to cut around 1,600 jobs. The cuts will mostly affect management and support functions. This is part of a wider restructuring linked to the company’s plan to transition to greener methods of steel production.

As of 9:49 AM on April 11, Tata Steel share price was trading at ₹134.07, up 5.42%, but down 17.96% over the past six months and 19.38% over the past year.

Consultation Process Begins

A formal Request for Advice has been submitted to the Central Works Council in the Netherlands. Consultations with trade unions are also underway. The restructuring will involve a reorganisation of the company’s local operations, changes to the management board, and a push towards increased automation and standardisation.

€5 Billion Green Steel Investment

The company is preparing for a €5 billion investment in green steel. As part of this, it plans to replace one of the two existing blast furnaces at its IJmuiden plant with a Direct Reduced Iron (DRI) unit and an Electric Arc Furnace (EAF) by 2030. This change is to reduce carbon emissions by around 5 million tonnes per year.

Plant Operating Near Full Capacity

The IJmuiden facility, which serves European customers and is located near a deep-sea port, is now operating close to its full capacity of 6.75 million tonnes per annum (MTPA) for FY25. This follows delays in FY24 due to a blast furnace reline. 

As per the reports, despite the recovery in output, the company is facing pressure from high energy costs, supply chain disruptions, and weak demand in the European market.

Talks with the Dutch Government

Tata Steel is currently in discussions with the Dutch government for financial and regulatory support to help fund the decarbonisation efforts. The company has also stated that it will take steps to address environmental concerns raised by local communities.

Conclusion

The job cuts and structural changes are part of a long-term plan to manage costs and shift towards lower-emission steel production.

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.

Edelweiss Mutual Fund Raises Daily Subscription Limit in 7 International Schemes

Edelweiss Mutual Fund has increased the daily subscription limit for seven of its international mutual fund schemes. The change will come into effect from April 17, 2025, and will apply across various transaction modes such as lump sum investments, SIPs, STPs, and switch-ins.

Revised Investment Cap

The daily investment limit has been increased from ₹1 lakh to ₹10 lakh per PAN per day. This change is applicable only to new transactions made on or after April 17, 2025. Transactions recorded before the cut-off time on April 16, 2025, will follow the old limit. Existing systematic investments such as SIPs and STPs will not be affected.

Funds Included Under the Revision

The increased limit applies to the following seven international funds offered by Edelweiss Mutual Fund:

  1. Edelweiss ASEAN Equity Offshore Fund
  2. Edelweiss Greater China Equity Offshore Fund
  3. Edelweiss US Technology Equity Fund of Fund
  4. Edelweiss Emerging Markets Opportunities Equity Offshore Fund
  5. Edelweiss Europe Dynamic Equity Offshore Fund
  6. Edelweiss US Value Equity Offshore Fund
  7. Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund

Regulatory Background

This update follows SEBI’s overseas investment guidelines, which were clarified through a letter dated June 17, 2022. According to the circular, mutual funds are allowed to resume subscriptions in overseas funds up to the limit available as of February 1, 2022.

A notice-cum-addendum dated February 24, 2025, was issued to inform investors about the revised cap and its implementation. The revised limit will be applied based on the transaction reporting date.

Conclusion

The updated limits will allow for higher daily investments in Edelweiss’s international schemes, effective April 17, without altering any existing systematic transactions. All other terms of the respective scheme documents remain unchanged.

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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. 

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

Bharti Hexacom Share Surges on Pausing Infrastructure Transfer to Indus Towers for Fresh Consultation

Bharti Hexacom Limited has announced a temporary pause on its previously approved plan to transfer its passive infrastructure business undertaking to Indus Towers Limited. This decision follows a formal request by Telecommunications Consultants India Limited (TCIL), a public sector undertaking and a key shareholder in Bharti Hexacom.

The original proposal, involving the sale or transfer of mobile and wireless communication towers and associated infrastructure, had been overwhelmingly approved by shareholders. On March 16, 2025, 99.99% of the participating public shareholders voted in favour of the transaction through a postal ballot process.

TCIL Seeks Fresh Review in Line with PSU Requirements

TCIL has now requested Bharti Hexacom to initiate a new process that adheres to the specific procedural and governance requirements applicable to public sector undertakings. As a significant stakeholder, TCIL’s request underscores the importance of alignment with public sector standards in such strategic decisions.

Commitment to Corporate Governance and Transparency

Despite strong shareholder backing and the company’s confidence in the business rationale of the proposal, Bharti Hexacom’s management and Board have chosen to uphold the highest standards of corporate governance. In response to TCIL’s request, the company has decided to put the current proposal in abeyance and commence a fresh exercise in consultation with TCIL.

This move reflects the company’s commitment to maintaining transparency and stakeholder alignment in all major business undertakings.

Indus Towers Duly Notified

Bharti Hexacom has informed Indus Towers Limited about this development. Further updates regarding the renewed process and future steps will be shared with stakeholders as and when they materialise.

Share Price Movement

As of 10:02 AM on April 11, 2025, Bharti Hexacom’s share price was trading at ₹1,511.95risen by 5.55%. In contrast, Indus Towers’ share price was trading at ₹370.05, a 0.15% down.

Conclusion

The development underscores Bharti Hexacom’s focus on stakeholder alignment and regulatory prudence. The outcome of the renewed process will be closely watched.

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.

Urban Company Receives Shareholder Nod for IPO, Scales Down Its Fundraising by Over 80%

Home services startup Urban Company has received formal approval from its shareholders to raise ₹528 crore (approximately $60.6 million) through a fresh issue of equity shares in an upcoming initial public offering (IPO). This decision was reflected in filings made with the Registrar of Companies (RoC).

The company, backed by prominent venture capital firm Accel, plans to list its equity shares on one or more recognised Indian stock exchanges. The listing aims to provide shareholders with a structured marketplace to trade their holdings.

A Sharply Reduced Issue Size

Initially, Urban Company had ambitions of launching a ₹3,000-crore IPO. However, according to the news report, the company has scaled down its fundraising by over 80%, citing volatile market conditions as the key reason for the strategic revision.

This recalibrated approach reflects the caution exercised by startups amidst fluctuating investor sentiment in the Indian equity markets.

Leading Investment Banks on Board

Urban Company has reportedly roped in Kotak Mahindra Capital, Goldman Sachs, and Morgan Stanley as the book-running lead managers for the proposed public issue. These institutions are expected to guide the company through the regulatory and investor engagement process.

The company is also expected to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) shortly, marking a critical step towards the IPO.

Foray into Quick Commerce with Insta Maids

Urban Company’s IPO announcement comes close on the heels of its entry into the quick commerce space with a new service offering called Insta Maids.

This 15-minute maid booking platform offers essential home services such as utensil cleaning, brooming, mopping, and basic cooking preparations, carried out by hourly-paid gig workers.

With this move, Urban Company seeks to leverage the growing demand for on-demand household services, tapping into a broader consumer base.

Funding History and Valuation

According to data from Tracxn, Urban Company has raised $376 million across 12 funding rounds. Its last significant fundraising was in 2021, when it raised $255 million in a round led by Prosus, Dragoneer, and Wellington Management.

At that time, the company was valued at $2.5 billion. The upcoming IPO is expected to provide existing investors with a partial exit while offering new investors a chance to participate in its growth journey.

Operational Scale and Reach

Urban Company has grown to become a dominant player in the home services and beauty salon marketplace. It currently operates in over 30 Indian cities and has expanded into international markets such as Singapore and Saudi Arabia.

The platform facilitates approximately 2.2 million orders per month, with an average order value of ₹1,290. As of FY24, it claims to have 57,000 partners, who collectively delivered 23 million services over the year.

Conclusion

Urban Company’s IPO journey marks a significant milestone in its business lifecycle. While the fundraising size has been revised in light of external conditions, the company’s long-term strategy remains focused on growth and service diversification.

This development will be closely watched by both institutional investors and market participants as the company moves closer to its listing milestone.

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.

Granules India Completes Acquisition of Senn Chemicals to Boost Peptide Capabilities

Granules India Limited has completed the full acquisition of Senn Chemicals AG, a Swiss company specialising in peptide development and manufacturing. This move is part of Granules’ plan to grow in the field of science and innovation, especially in peptide-based medicines. 

Benefits and Future Plans

This acquisition will strengthen Granules’ capabilities in the peptide therapeutics sector and CDMO (Contract Development and Manufacturing Organisation) services. It will help the company develop new drugs like GLP-1 receptor agonists used for treating diabetes and obesity. Both companies have already started working together on product development, with plans for a wider range of peptide-based drugs.

Statement from Executive 

Dr Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India, stated, “The acquisition of Senn Chemicals AG marks a pivotal step in Granules’ strategic evolution into a science- and innovation-led organisation. By entering the rapidly growing peptide therapeutics segment and building on Senn’s specialised CDMO capabilities, we are well-positioned to deliver high-quality, next-generation treatments. Senn’s specialised expertise in peptide development and its strong customer relationships complement Granules’ manufacturing strength and global reach. Together, we aim to drive meaningful impact in the complex therapeutics space.”

About Granules India

Granules India started in 1991 and, based in Hyderabad, is a fast-growing pharmaceutical company. It handles the full manufacturing process from raw ingredients to finished medicines and serves over 300 customers in more than 80 countries. The company runs 10 factories (8 in India and 2 in the USA) and has approvals from major global health authorities.

Granules India Share Price Performance 

As of April 11, 2025, at 11:00 AM, Granules India Limited Share Price is trading at ₹450.35 per share, reflecting a profit of 4.47% from the previous closing price. Over the past month, the stock has registered a loss of 5.92%. The stock’s 52-week high stands at ₹721.00 per share, while its low is ₹389.35 per share.

About Senn Chemicals

Senn Chemicals, established in 1963 and based in Switzerland, is well-known for making custom peptides. They support companies in the pharmaceutical, cosmetic and theragnostic fields. They use advanced methods like Liquid-Phase and Solid-Phase Peptide Synthesis and provide services from research to full-scale production.

Conclusion

The deal helps Granules grow in advanced drug development and expand globally. It marks a big step in its journey toward offering next-generation treatments.

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.

Torrent Power Sets Up New Subsidiary Torrent Urja Projects to Boost Renewable Energy Projects

Torrent Power Limited announced that its wholly owned subsidiary, Torrent Green Energy Pvt. Ltd. (TGEPL), has established a new company named Torrent Urja Projects Pvt. Ltd. (TUPPL). 

Ownership and Financial Details

  • Ownership: TUPPL is fully owned by TGEPL, which is itself a wholly owned subsidiary of Torrent Power Limited.
  • Capital: Both the authorised and paid-up capital of TUPPL is ₹5,00,000.
  • Turnover: Currently, TUPPL has no turnover as it hasn’t started operations yet.
  • Acquisition Type: This was a cash investment involving the purchase of 50,000 shares at ₹10 each.

Purpose and Business Activities

TUPPL has been formed to take on infrastructure development projects related to various energy sources like solar, wind, hydro, thermal, nuclear, green hydrogen, coal, gas and more. It will offer services like:

  • Engineering and project consultancy
  • Construction and installation of power facilities
  • Trading and supply of equipment and materials
  • Managing and operating power plants

Background of the New Entity

Torrent Urja Projects Pvt. Ltd. is a newly incorporated company registered in Ahmedabad, Gujarat, on April 9, 2025. It hasn’t started any business activity yet and is entirely based in India.

Share Price Performance 

As of April 11, 2025, at 10:20 AM, Torrent Power Share Price is trading at ₹1,532.70 per share, reflecting a profit of 0.12% from the previous closing price. Over the past month, the stock has registered a profit of 14.86%. The stock’s 52-week high stands at ₹2,037.00 per share, while its low is ₹1,207.25 per share.

Conclusion

The incorporation of TUPPL reflects Torrent Power’s commitment to growth in the clean energy sector. By expanding its operational capabilities through this new subsidiary, the company is well-positioned to take on large-scale infrastructure and renewable energy projects both in India and abroad.

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.

Sun Pharma Clears Legal Hurdle for LEQSELVI Launch in US

Sun Pharmaceutical Industries Limited has achieved a critical legal victory in its ongoing battle concerning the launch of its product, LEQSELVI (deuruxolitinib), in the United States. 

This comes following a ruling from the U.S. Court of Appeals for the Federal Circuit, which lifted a previously imposed preliminary injunction. The decision removes legal barriers that had delayed the company’s product rollout. While the primary litigation with Incyte Corporation is yet to be resolved, this interim judgment marks a turning point for the pharmaceutical giant.

Court Ruling Favouring Sun Pharma

On April 9, 2025, an oral argument was presented before the U.S. Court of Appeals for the Federal Circuit regarding Sun Pharma’s appeal against the District Court of New Jersey’s earlier decision. That decision had enforced a preliminary injunction that prevented the company from launching LEQSELVI  in the U.S. market. 

However, following the hearing, the Federal Circuit issued a favourable ruling, vacating the injunction with immediate effect. This legal development now enables Sun Pharma to proceed with its commercial plans for LEQSELVI, free from judicial restrictions.

The preliminary injunction was a significant obstacle, initially brought about by litigation initiated by Incyte Corporation. With the court now vacating the order, Sun Pharma is legally positioned to prepare for the launch of its product in the competitive U.S. pharmaceutical landscape.

Next Steps and Strategic Implications

Although the preliminary injunction is no longer in effect, Sun Pharma has indicated that the broader legal proceedings with Incyte Corporation are still in progress. The company has reassured stakeholders that it will announce its launch strategy for LEQSELVI in due course.

This development underscores the importance of navigating regulatory and legal frameworks efficiently, especially in highly competitive sectors such as biopharmaceuticals. Sun Pharma’s ability to clear this hurdle not only demonstrates its legal preparedness but also signals confidence in its pipeline and product portfolio.

Sun Pharma Share Performance 

As of April 11, 2025, at 11:30 AM, Sun Pharma Share Price is trading at ₹1,690.60 per share, reflecting a profit of 2.32% from the previous closing price. Over the past month, the stock has registered a surge of 2.13%.

Conclusion

The U.S. Court of Appeals’ decision to lift the injunction marks a significant milestone for Sun Pharmaceutical Industries. While the legal dispute with Incyte Corporation is not yet concluded, this ruling allows Sun Pharma to move forward with launching LEQSELVI, reinforcing its position in the U.S. market. The company’s next steps will be closely watched as it transitions from litigation to commercial execution.

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.