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EquityPandit

EquityPandit
MARKETS

Bajaj Electricals Shares Up on Bagging Orders Worth Rs 564 Crore

Bajaj Electricals has won an order worth nearly Rs 565 crore to develop electricity infrastructure in Bihar.

Shares of Bajaj Electricals rose on March 6 after the company announced it had secured an order worth Rs 564.87 crore from South Bihar Power Distribution Company.

The stock was trading at Rs 124.65 per share on the National Stock Exchange at 11:17 am, up 2% from its previous close. The stock also hit an intraday high of Rs 1,158.

A total of 200,000 shares of the company changed hands, well above the one-month daily average of 81,000 shares.

The order entails supplying factory and installation services for developing the distribution infrastructure for the power circles at Sasaram and Munger, with a completion time of 30 months.

The engineering and procurement arm of Bajaj Electricals had an order book of around Rs 1,200 crore as of the end of the third quarter.

The order inflow will also support the company’s revenue growth, which has been lacklustre over the past few quarters. As a result, shares are down more than 26% from their all-time high reached in September 2021.

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MARKETS

Waaree Renewable Tech Shares Rally 5% on Solar Power Project Win 

Ali Waghbakriwala

Shares of Waaree Renewable Technologies Ltd rallied 5% on 26 March after the company announced securing a Letter of Award (LOA) for the solar power project. 

In its regulatory filing, the company said: “the company has received a Letter of Award (LOA) for the execution of engineering, procurement and construction (EPC) works for ground mount solar power project including operation and maintenance (O&M) of 170 MW AC/255 MW DC capacity on turnkey basis.”

The order, which is valued at around 232.30 crore, is anticipated to be completed in the fiscal year 2025–2026.  

On 11 March, a Waaree Renewable consortium was awarded a LOA for Rs 740.06 crore. As part of the project, the consortium will construct a plant with a total capacity of 125 megawatts of alternating current (MWAC), according to the filing. The project is anticipated to be completed within 18 months from the contract signing date.

On 13 February, Continuum Green Energy awarded Rs 40 crore for the EPC work for a 40MWh battery storage system.  

Waaree Renewable Technologies, a subsidiary of the Waaree Group, is a prominent solar EPC company headquartered in Mumbai. Beyond offering EPC services, the company engages in the development, financing, construction, ownership, and operation of solar projects, with a strong focus on commercial and industrial clients.

At 12:23 pm, the shares of Waaree Renewable Tech were trading 1.73% higher at Rs 938.05 on NSE.

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MARKETS

Stocks in Focus: Larsen and Toubro, NCC, Welspun Enterprises, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.04% higher by 9.5 points at 23,765.5, indicating that the domestic benchmark indices are likely to make a lacklustre start on Wednesday.

On Tuesday, 25 March, Domestic benchmark indices S&P BSE Sensex gained by 32.8 points or 0.04% and settled at 78,017.19 while the Nifty50 traded 0.04% higher by 10.3 points, settling at 23,668.6.

Here are some stocks that are likely to remain in focus on 26 March.

NCC: The company has announced securing two new work orders worth Rs 10,804.6 crore from Bharat Sanchar Nigam for designing, supplying, installing, upgrading, operating, and maintaining the middle-mile network of BharatNet in Uttarakhand Telecom Circle and Madhya Pradesh, DNH, and DD telecom circles.

Larsen and Toubro: The company has announced that it is securing its largest-ever order worth over Rs 15,000 crore for its offshore hydrocarbon business from QatarEnergy LNG. 

Welspun Enterprises: The company’s subsidiary, Welspun Michigan Engineers, in a joint venture with Aaradhyaa & Co, has announced securing an order worth Rs 328.12 crore for the upgradation of the Haji Ali Storm Water Pumping Station in Mumbai from Brihanmumbai Municipal Corporation. 

DLF: The company has announced acquiring a 50% stake in its subsidiary DLF Urban Private Limited for a total consideration of Rs 497 crore from Reco Greens, Singapore. With this acquisition, DLF Urban Private Limited has become a wholly-owned subsidiary of the company. 

You Might Be Interested In

Waaree Renewable Tech: The company has announced securing an order worth Rs 232.3 crore for the execution of engineering, procurement, and construction (EPC) works of a ground-mounted solar power project, including operation and maintenance of a 170 MW AC/255 MW DC capacity that will be executed on a turnkey basis. 

Prism Johnson: The company has emerged as a preferred bidder by the Madhya Pradesh government for the mining lease of the Jamodi Mahanna Sector II (Part B) limestone block with an area of 264.156 hectares and the Jamodi Mahanna Sector I (Part B) limestone block with an area of 416.73 hectares.

Siemens India: The company has received approval from the National Company Law Tribunal (NCLT), Mumbai, for its Scheme of Arrangement between Siemens and Siemens Energy India. As a result, the company’s energy business will be demerged and will be established as a separate entity, Siemens Energy India. 

Jyothy Labs: The company has executed a share purchase agreement with Kallol Enterprise to divest its entire 75% stake in Jyothy Kallol Bangladesh to Kallol Enterprise for a total consideration of Bangladeshi Taka 3,01,92,134.

Ashoka Buildcon: The company has secured approval from the Competition Commission of India for acquiring a 100% stake in 11 road special purpose vehicles owned by Ashoka Buildcon by Epic Concesiones 2 and Ashoka Concessions. 

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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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