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By EquityPandit

EquityPandit

EquityPandit
MARKETS

Aether Industries Shares Plunged 7%, Hits 52-Week High

Shares of Aether Industries hit a record high after the specialty chemicals maker signed a deal with Saudi Aramco Tech.

On June 9, Aether Industries stock increased 7% in early trade, touching a 52-week high of Rs 1,055.95 on BSE after it inked a licence contract with Saudi Aramco Technologies.

The agreement lawfully initiates Aether’s activities towards the business and commercialisation of the converge polyols technology and product series; the manufacturing process was jointly developed and authenticated at a pre-commercial scale by Aramco and Aether.

The director and promoter of Aether Industries mentioned that they are excited to collaborate with Saudi Aramco Technologies to step forward with commercialising converged polyols. After working collaboratively for years towards the manufacturing technology expansion for the Converge platform, they are glad to commercialise the converge polyols.

The Converge platform signifies a novel and cutting-edge expertise for manufacturing more sustainable polyols containing up to 40% by weight carbon dioxide.

On June 7, the company signed a Letter of Intent (LoI) with one of the top 3 global oil field services in the US to finalise a strategic supplier and contract manufacturing partnership.

At 9:26 am, Aether Industries trades Rs 1,036.15, up Rs 54.15, or 5.51%, on the BSE.

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MARKETS

Stocks Under F&O Ban: IndusInd Bank

Ali Waghbakriwala

Under the futures and options (F&O) segment, one stock was banned from trade on Wednesday, 26 March, by the National Stock Exchange (NSE). The securities banned for the F&O trade are IndusInd Bank.  

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.

IndusInd Bank was retained on the list from Tuesday as the open interest as a percentage of the MWPL of its F&O contracts stood at 81.6%. 

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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MARKETS

Delhi Govt Allocates Rs 2,144 Crore for Ayushman Bharat in First Budget

Ali Waghbakriwala

The BJP-led Delhi government presented its maiden Budget on 25 March, announcing the rollout of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) in the capital. Chief Minister Rekha Gupta confirmed an allocation of Rs 2,144 crore for the scheme, fulfilling a key electoral promise.

“We had committed to implementing Ayushman Bharat in Delhi,” Gupta stated while presenting the Budget. The scheme, which provides Rs 5 lakh health insurance coverage under the central initiative, will receive an additional Rs 5 lakh top-up from the Delhi government.

With this announcement, Delhi becomes the 35th state or Union Territory to adopt AB-PMJAY, which covers 12.37 crore economically weaker families, benefiting around 55 crore individuals, or 40% of India’s population.

Delhi’s Shift in Healthcare Policy

The previous Aam Aadmi Party (AAP) government had rejected the scheme in favour of its own healthcare model. However, in October 2024, the Central government expanded AB-PMJAY to provide free treatment up to Rs 5 lakh per year for all senior citizens aged 70 and above, regardless of their socio-economic background.

Healthcare Budget Allocation

The Delhi government has set aside Rs 6,874 crore for the health sector, a decline from Rs 8,685 crore allocated by the AAP-led administration in 2024-25. The funds will be directed toward:

  • 400 Health & Wellness Centres under the ‘Ayushman Arogya Mandir’ initiative (Rs 320 crore allocation)
  • Ayushman Digital Mission for modernizing medical records and integrating healthcare data (Rs 10 crore allocation)
  • Construction of 10-13 new hospitals, with Rs 1,000 crore earmarked for the project

This move marks a significant policy shift in Delhi’s healthcare system, aligning it with the central government’s flagship health insurance program.

MARKETS

Rail Vikas Nigam Shares Surge 3% on Emerging L1 for Rs 115 Crore Contract 

Ali Waghbakriwala

The share price of Rail Vikas Nigam Ltd (RVNL) rose more than 3% on 25 March after the company got an order worth Rs 115 crore. 

In its regulatory filing, the company said, “RVNL has emerged as the lowest bidder (L1) from Central Railway for OHE modification work for up-gradation of existing 1×25 KV electric traction system to 2×25 KV at feeding system in Itarsi-Amla section in Nagpur division of Central Railway to meet 3000 MT loading target.”

The order must be fulfilled within 24 months.

Earlier on 20 March, the company received a Letter of Acceptance from the National Highway Authority of India for constructing a six-lane access-controlled link to Visakhapatnam Port Road of NH 516C on Hybrid Annuity Mode in the State of Andhra Pradesh under NH (O) on Hybrid Annuity Mode.

Earlier this month, South Western Railway sent the company a Letter of Acceptance for Rs 156.35 crore for engineering, procurement, and construction (EPC) for the design, supply, erection, testing, and commissioning of a 2X25 KV OHE & PSI system (TSSs & SPs & SSPs), which includes engineering, telecommunication, and electrical general services between Rayadurga Topavagada of the TK-RDG section.

However, at 3:30 pm, the shares of Rail Vikas Nigam shed all their gains and closed 0.42% lower at Rs 370 on NSE.

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MARKETS

HCL Technologies Shares Gain 3% on Partnering Up with Western Union 

Ali Waghbakriwala

Shares of HCL Technologies Ltd were trading in the green and 3% higher on 25 March after the company announced that they have partnered with Western Union to encourage innovation and change in the financial services industry.

Through the partnership, Western Union will use HCLTech’s AI-powered solutions, FENIXAI and AI Force, to accelerate its transition to a platform-centric operating model, which will allow for more agility and scalability.

Additionally, HCLTech will help Western Union enhance its platform and channel capabilities. The enterprise’s infrastructure will be transformed by HCLTech, which will encourage data-driven decision-making and resiliency.

Additionally, in collaboration with HCLTech, Western Union will open a state-of-the-art technological facility in Hyderabad, India.
 
C Vijayakumar, CEO and managing director of HCLTech, said, “This strategic partnership emphasizes our focus on empowering fintech companies through digital engineering led transformation and creating exceptional value for their stakeholders. We remain deeply committed to Western Union’s growth journey through innovative solutions that deliver real business outcomes.”

You Might Be Interested In

The Western Union Company offers cross-border, cross-currency money movement, payments, and digital financial services that connect individuals, businesses, financial institutions, and governments to billions of bank accounts, millions of digital wallets and cards, and hundreds of thousands of retail locations across more than 200 countries and territories and more than 130 currencies.

HCLTech is an international technology company with over 220,000 workers in 60 countries. It has industry-leading expertise in digital, engineering, cloud, and artificial intelligence, all backed by a broad range of technology services and solutions. The company provides clients in all of the primary verticals with industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services.

At 1:39 pm, the shares of HCL Tech were trading 1.68% higher at Rs 1,631.10 on NSE.

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MARKETS

Garden Reach Shares Surge 5% on Contract with Companies in Germany 

Ali Waghbakriwala

Shares of defence PSU Garden Reach Shipbuilders & Engineers Ltd (GRSE) rose 5% on 25 March after the company announced that it had signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG, based in Germany, for the construction and delivery of the seventh and eighth 7,500 DWT multi-purpose vessels (MPVs).

The deal, which was finalised in Hamburg, Germany, concludes an eight-ship series under an earlier option agreement between the two companies, the business said in a regulatory filing. 

With this most recent agreement, GRSE’s entire order for these vessels is still worth about $108 million, and the financial parameters have not changed. With a single cargo hold that can accommodate bulk, general, and project goods in addition to containers on hatch covers, each 120-meter-long by 17-meter-wide MPV is built to carry 7,500 tonnes of cargo.

Notably, these ships are built to support enormous windmill blades, proving GRSE’s ability to construct specialised vessels to satisfy shifting industrial needs.

Last Monday, the business signed a contract with PWD Nagaland to deliver eight double-lane modular steel bridges, enhancing connectivity throughout the state. Its already impressive portfolio of modular bridge projects is expanded with the delivery of over 5,800 units to states, the Border Roads Organisation (BRO), NHIDCL, and nations including Bangladesh, Bhutan, Nepal, Myanmar, and Sri Lanka.

At 11:40 am, the shares of Garden Reach Shipbuilders were trading 0.17% higher at Rs 1,707.60 on NSE.

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