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EquityPandit

EquityPandit
MARKETS

Kalyan Jewellers Makes Weak Market Debut

Kalyan Jewellers is the country’s largest jewellry retailer has made a weak stock market debut on Friday, the stock opened for trading at a discount of 15 per cent at Rs 73.95 against its issue price of Rs 87 per share. Kalyan Jewellers’ share sale via initial public offering (IPO) was subscribed 2.61 times, data from the National Stock Exchange showed. Kalyan Jewellers received 24.95 crore bids for 9.57 crore shares on the offer.

Kalyan Jewellers sold shares in the price band of Rs 86-87 per share and raised Rs 1,175 crore from the share sale via initial public offering (IPO). The primary market offer consisted of a fresh issue of Rs 800 crore and an offer for sale of Rs 375 crore. Suryoday Small Finance Bank also made a weak stock market debut as it got listed at a discount of 4.26 per cent at Rs 292 against issue price of Rs 305.

As of 10:10 am, Kalyan Jeweller shares traded 8 per cent higher at Rs 80 from the opening price but were down 7.8 per cent from the issue price of Rs 87.

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MARKETS

E2E Networks Shares Rally 4% on Deploying Nvidia H200 Clusters

Ali Waghbakriwala

Shares of E2E Networks Ltd rallied 4% on 3 April E2E Could announce the deployment of India’s largest NVIDIA H200 GPU infrastructure in Delhi-NCR and Chennai.

In its regulatory filing, the company said, “With two state-of-the-art clusters strategically located in Delhi NCR and Chennai, each boasting 1,024 NVIDIA H200 GPUs, E2E Cloud is empowering India to lead the global AI revolution.”

The NVIDIA H200 GPUs deliver exceptional performance, making them highly sought after for training and fine-tuning large-scale AI models such as DeepSeek and other advanced language models, according to E2E Networks. 

These GPUs boast a total of 288.8 TB of GPU RAM and 2.4× higher memory bandwidth (4.8 TB/s), ensuring they can efficiently handle memory-intensive workloads with superior computational power.

Tarun Dua, Managing Director of E2E Cloud, said that E2E Cloud has made a significant investment in deploying India’s largest NVIDIA H200 GPU cluster, reinforcing its commitment to building the country’s most advanced AI infrastructure. Strategically placed in Delhi NCR and Chennai, these clusters are seamlessly integrated with the TIR AI/ML Platform, a solution designed to simplify access to high-performance computing for enterprises, researchers, and developers.

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The TIR AI/ML Platform eliminates the complexities of infrastructure setup, allowing users to initiate training, fine-tuning, and inference workloads with just a few clicks. This innovation ensures efficiency and ease of use, enabling businesses to focus on AI-driven advancements rather than technical hurdles.

Beyond AI model training, the H200 deployment is well-suited for real-time applications in industries such as healthcare, autonomous systems, financial analytics, and cutting-edge research. 

Additionally, enterprises with strict data residency and compliance requirements can leverage these AI solutions through E2E Cloud’s Sovereign Cloud Platform. This guarantees regulatory compliance while delivering top-tier AI computing capabilities to sectors including government, finance, and healthcare.

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MARKETS

BR Goyal Infra Shares Surge 3% on Securing Order Worth Rs 11 Crore 

Ali Waghbakriwala

Shares of this micro-cap stock, BR Goyal Infrastructure Ltd, surged 3%, hitting an intraday high of Rs 115.55 on 3 April after the company announced securing an order from NHIT Eastern Projects Private Limited for improvement work on National Highway 44 (NH-44) worth Rs 11 crore.

BR Goyal Infrastructure Limited has received a work order from NHIT Eastern Projects Private Limited to improve the Lakhnadon-Khawasa Section of NH-44 in Madhya Pradesh. The project, which would cost Rs 10.90 crore, will be completed in six months. 

Under this contract, improvements to the national highway will be carried out on an item-rate basis. The company sees this as a vital step in expanding its infrastructure development footprint while producing high-quality road projects.

The company works in several industries, including producing ready-mixed concrete (RMC), handling toll collection contracts in Haryana and Uttar Pradesh, and offering EPC services for infrastructure projects. It also constructs residential buildings in Indore and operates a 1.25 MW windmill in Jaisalmer, Rajasthan.

The company held its Initial Public issuing (IPO) from 10 January to 12 January 2025, issuing 30 lakh equity shares at a price of Rs 100 apiece in an attempt to raise Rs 30 crores. The money raised will be utilized to meet working capital requirements, increase the production of ready-mix concrete, and support existing civil construction projects.

However, at 2:37 pm, the shares of BR Goyal Infra shed all their early gains and were trading 0.13% lower at Rs 111.85 on NSE.

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MARKETS

VVIP Infratech Shares Hit 5% Upper Circuit on Securing Rs 414 Crore Order 

Ali Waghbakriwala

The shares of micro-cap infra stock, VVIP Infratech Limited were locked 5% higher on 3 April after the company announced securing an order worth Rs 414 crore for infrastructure projects. 

VVIP Infratech Limited has secured fresh orders of Rs 414 crore for infrastructure projects. These projects include a Rs 175.80 crore sewerage network project in Uttarakhand, which is being sponsored by German Financial Cooperation, and Rs 238.36 crore electric distribution projects in Uttar Pradesh through the Revamped Distribution Sector Scheme (RDSS). 

The sewerage project in Rishikesh aims to promote cleanliness, while the electric projects aim to divide agricultural and rural electrical consumption between areas. The projects are expected to be completed between 547-730 days. This result highlights VVIP Infratech’s expertise in infrastructure development and commitment to providing high-quality work on schedule, all while contributing to India’s advancement in sanitation and power distribution.

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The firm works on a number of infrastructure projects, including sewer lines, water tanks, and treatment plants. It also constructs roads, sectors, and buildings and controls electrical power up to 33 kVA. Furthermore, it focuses on programs to improve water supply under the Jal Jeevan Mission.

As of 31 January 2025, VVIP Infratech Limited has an order book valued at Rs. 560.83 crore. This includes contracts for a range of infrastructure projects, including water treatment plants, energy projects, and sewerage systems.

At 1:21 pm, the shares of VVIP Infratech were locked 5% higher at Rs 171.70 on NSE.

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MARKETS

Bharat Electronics Shares Gain 2% on Order from Indian Air Force 

Ali Waghbakriwala

Shares of Bharat Electronics Ltd were trading in the green and 2% higher on Thursday, 3 April, after the company announced signing a contract with the India Air Force. 

In its regulatory filing, the company said that it had signed a contract worth Rs 593.22 crore with the Indian Air Force for providing maintenance services for the Akash Missile System that was supplied by the company. 

The company has also completed negotiations with customers to acquire orders worth Rs 5,000 crore. 

As of 1 January 2025, the company’s order books stood at Rs 71,100 crore. 

The company is in the final stages of securing contracts for key projects, including the Ashwini Radar, Electronic Warfare system for MI-17, HimShakti Phase 4, and QRSAM. The QRSAM deal, valued between Rs 25,000-30,000 crore, is expected to be finalized within the next 6-8 months. Additionally, orders for MRSAM and MFSTAR, worth Rs 14,000-15,000 crore, are anticipated in the upcoming fiscal year.

Bharat Electronics Limited (BEL) specializes in developing and supplying electronic equipment and systems for both defence and non-defence sectors. Its defence portfolio includes navigation systems, communication systems, land-based radars, naval systems, and electronic warfare solutions, among other advanced technologies.

At 12:45 pm, the shares of Bharat Electronics were trading 1.40% higher at Rs 286.35 on NSE.

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MARKETS

Kirloskar Oil Engines Shares Surge 6% on Securing Rs 270 Crore Order 

Ali Waghbakriwala

Shares of Kirloskar Oil Engines Ltd surged 6% on 3 April after the company announced securing an order from the Ministry of Defence worth Rs 270 crore. 

In its regulatory filing, the company said it had secured an order from the Defence Ministry to design and develop a medium-speed marine diesel engine with 6 megawatts (MW) capacity under the Make-I scheme. 

The prototype diesel engine will be developed with over 50% indigenous content at a cost of Rs 270 crore, with 70% of the funding provided by the Government of India.

The company will design and manufacture medium-speed engines in-house, ranging from 3 MW to 10 MW, for use in main propulsion and power generation on Indian Navy and Indian Coast Guard vessels.

Currently, most of these engines are imported, making this project a crucial milestone in India’s efforts toward indigenisation and self-reliance in marine engine development. It aligns with the Government of India’s vision to localise critical technologies and achieve Aatmanirbharta in the defence sector.

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Reacting to the development, Gauri Kirloskar, the company’s Managing Director, said, “We are honoured to be selected by the Indian Navy for this prestigious project and to have the opportunity to contribute to the building of our nation. This is a proud moment for all of us at KOEL, and I am sure that with the technical and R&D strength that we have, we will be able to deliver yet another world-class product to the Indian Navy.”

At 11:36 am, the shares of Kirloskar Oil Engines were trading 3.16% higher at Rs 752.30 on NSE.

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