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By EquityPandit

STARTUPS

CoinDCX Enters Unicorn by Raising $90 Million From B Capital

CoinDCX has raised $90 million in its Series C funding round led by B Capital. The funding made the company valuation $1.1 billion. This also made CoinDCX the first crypto firm in India to become a unicorn.


Existing investors like Coinbase Ventures, Polychain Capital, Block.one, Jump Capital, and other angel investors also took part in the round. The latest funds will be used for marketing, growing the team and new business ideas, Sumit Gupta, Co-founder and CEO of CoinDCX, stated. The company has reserved Rs 10 crore for its educational ambitions across different platforms.


Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX serves people to buy and sell cryptocurrency. “In the upcoming months, CoinDCX will also be starting the CoinDCX Prime initiative, which is the latest offering in the HNI and Enterprise area, presenting legally vetted and safe investments, as well as Cosmex, CoinDCX’s global trading product,” Gupta added.

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MARKETS

Arkade Developers Shares Shot Up 6% on Acquiring Redevelopment Rights 

Ali Waghbakriwala
Arkade Developers Ltd IPO GMP

Shares of Arkade Developers Ltd shot up more than 6% on Tuesday, 8 April 2025, after it acquired the cluster redevelopment rights in Borivali West, Mumbai, which had an estimated gross development value (GDV) of Rs 865 crore. 

Arkade Developers has acquired the cluster redevelopment rights and registered the DA (development agreement) for Om Shreepal Nagar B & C CHS Ltd., Satya Shreepal Nagar A CHS Ltd., Sheetal Shreepal CHS Ltd., and Sai Shreepal CHS Ltd. The project spans 7,084 square meters and is expected to deliver a saleable carpet area of approximately 2.44 lakh square feet. The project is located in one of Mumbai’s well-connected residential districts.

Amit Jain, chairman and managing director of Arkade Developers, said, “This project is a reflection of our philosophy to bring people luxury homes, stronger infrastructure, and vibrant neighborhoods. This micro-market has immense potential, and we are proud to be playing a pivotal role in shaping its future.”

The project also solidifies Arkade Developers’ standing as a trustworthy player in the city’s transformation story and reaffirms the company’s commitment to high-value, strategic redevelopment in Mumbai’s land-constrained environment, according to the filing.

Arkade Developers is a leading premium real estate developer in Mumbai. Throughout its more than 38-year history, the company has established a reputation as a symbol of quality and excellence.  

Since its establishment in 1986, the company has completed 31 projects, constructing homes for over 5,500 happy families. With the motto “Family First,” Arkade Developers places a high priority on building homes that are suitable for families while respecting values like contentment, commitment, trust, and openness.

Arkade Developers has developed about 5.5 million square feet of property and is presently constructing an additional 2 million square feet, according to the petition.

At 2:21 pm, the shares of Arkade Developers were trading 4.99% higher at Rs 152.67 on NSE.

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MARKETS

Brigade Enterprises Shares Soar 5% on Inking a JDA

Ali Waghbakriwala

The real estate company Brigade Enterprises Ltd share price increased more than 5%, reaching a high of Rs 944.30 on Tuesday, 8 April 2025, after the company announced signing a Joint Development Agreement (JDA) to develop 37 guntas and 10 acres of premium land in Mysuru, with a gross development value of about Rs 225 crores.

In its regulatory filing, the company said, “This strategic acquisition marks another milestone in Brigade’s commitment to expanding its presence in Mysuru, which already has about 30 projects across Residential, Office, Retail and Hospitality.”

The company stressed that the project, which has a 0.37 million square foot total development potential, is in a good position to set a new standard for upmarket residential living in the region.

Pavitra Shankar, managing director of Brigade Enterprises, said, “The city (Mysuru) has witnessed a clear uptick in real estate activity in recent years, especially following the improved connectivity brought about by the Bengaluru-Mysuru expressway. As the largest Tier 2 market in Karnataka, Mysuru continues to attract discerning home buyers seeking a high quality of life.”

The development will include premium plots of 8 acres and high-end units on 2 acres. The project, which is strategically positioned in the centre of Mysuru, is designed to suit the desires of modern homebuyers looking for a combination of luxury, convenience, and communal living.

Shankar noted that the project enjoys excellent connectivity to the Bengaluru-Mysuru highway, making it a convenient and aspirational location. He emphasized that it aligns with the company’s vision of creating premium residential spaces that cater to the evolving aspirations of Mysuru’s residents.

He further added that with a long-standing presence in Mysuru, the company remains committed to offering exceptional living experiences while supporting the city’s sustainable growth. Continued investments in key markets, he said, will help this development set new benchmarks in quality and innovation.

The project’s unique features, such as its integrated design, high-end items, and excellent location, will provide residents with seamless connectivity and convenience, Brigade Enterprises continued.

Founded in 1986, Brigade Group is an Indian real estate developer with over 40 years of experience. The company has played an important part in the construction of well-known structures and the reconstruction of skylines throughout South India, including Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Trivandrum, and Gujarat’s Gift City. Businesses in the retail, hospitality, office, and residential sectors are all part of their diverse portfolio.

At 1:26 pm, the shares of Brigade Enterprises were trading 2.70% higher at Rs 920 on NSE.

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MARKETS

Lemon Tree Shares Surge 3% on Inking Licensing Agreement for New Property 

Ali Waghbakriwala

Shares of Lemon Tree Hotels Ltd were trading in the green and 3% higher on 8 April after the company announced signing a new licensing agreement for a new property in Darjeeling. 

Lemon Tree Hotels has announced that its upcoming property, Keys Prima by Lemon Tree Hotels, will be operated by Carnation Hotels Private Limited, its wholly-owned subsidiary. The hotel will offer 65 well-appointed rooms, along with a restaurant, meeting room, recreational amenities, and other public areas. It also benefits from excellent road connectivity, providing convenient access via both public and private transport.

Commenting on the expansion, Vilas Pawar, CEO of the managed and franchise business at Lemon Tree Hotels, stated, “We are thrilled to strengthen our presence in West Bengal. This addition aligns with our strategic growth plans in the state, where we currently operate two hotels and have two more in the pipeline.”

This development follows recent signings by the company, including a new property in Bokaro, Jharkhand, scheduled to open in FY2027, and two Keys Lite by Lemon Tree Hotels properties in Madhya Pradesh.

Lemon Tree Hotels is involved in developing, acquiring, renovating, and managing hotels, motels, resorts, and restaurants. The company’s portfolio includes over 210 properties, with more than 110 already operational and over 100 in various stages of development across India and abroad.

At 12:22 pm, the shares of Lemon Tree Hotels were trading 2.32% higher at Rs 136.90 on NSE.

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MARKETS

Bharat Electronics Shares Rally 4% on Inking Contract with MoD

Ali Waghbakriwala

Shares of Bharat Electronics Ltd rallied 4% on 8 April after the company announced a contract worth Rs 2,210 crore from the Ministry of Defence. 

In its regulatory filing, the company said that it had signed a contract worth Rs 2,210 crore with the Ministry of Defence for supplying EW Suite for Mi 17 V5 Helicopters of the Indian Air Force. These systems are designed and developed by DRDO and CASDIC and are manufactured by the company. 

The Electronic Warfare (EW) Suite includes a Radar Warning Receiver (RWR), Counter Measure Dispensing System (CMDS), and Missile Approach Warning System (MAWS), all of which play a crucial role in boosting the combat survivability of helicopters by providing timely alerts and deploying effective countermeasures, the company noted.

As of 1 January 2025, the company’s order book stands at Rs 71,100 crore. For FY’25, it is targeting order inflows of Rs 25,000 crore, of which Rs 11,000 crore has already been secured. The management remains optimistic about meeting its target, pointing to key project finalizations expected in the next couple of months.

Several major contracts are currently in the pipeline, including deals for the Ashwini Radar, Electronic Warfare systems for MI-17 helicopters, HimShakti Phase 4, and the Quick Reaction Surface-to-Air Missile (QRSAM) system. The QRSAM project, estimated at Rs 25,000–30,000 crore, is expected to materialize within 6–8 months. Meanwhile, orders for the MRSAM and MFSTAR systems, valued between Rs 14,000–15,000 crore, are likely to be finalized in the next financial year.

On 2 April, the company entered into a contract with the Indian Air Force valued at Rs 593.22 crore (excluding taxes) to provide maintenance services for the Akash Missile System.

In March, the company secured a Rs 2,463 crore order from the Indian Air Force for Ashwini Radars and received additional orders amounting to Rs 2,805 crore.

For the financial year 2024–25, the company reported a turnover of approximately Rs 23,000 crore, which includes export sales of about USD 106 million.

At 11:32 am, the shares of Bharat Electronics were trading 1.86% higher at Rs 277.15 on NSE.

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MARKETS

Stocks Under F&O Ban: Hindustan Copper, Manappuram Finance, and Others

Ali Waghbakriwala

Under the futures and options (F&O) segment, three stocks were banned from trade on Tuesday, 8 April, by the National Stock Exchange (NSE). The securities banned for the F&O trade are Hindustan Copper, Manappuram Finance, and Birlasoft. 

Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.

Hindustan Copper and Birlasoft were retained on the list from Monday as the open interest as a percentage of the MWPL of its F&O contracts stood at 105.5% and 90.9%, respectively. 

The above securities were retained on the list from Monday, 7 April. Manappuram Finance was added to the list on Tuesday as the open interest of their F&O contracts reached 116.1%..

The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market. 

The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.

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