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By EquityPandit

EquityPandit

EquityPandit
BUSINESS

Banks Need $70 Billion More to Support Aim of $5 Trillion Economy, Says SBI Chairman

Banks may need to be capitalised at present. Still, they would need additional capital of $70 billion ( Rs 5.3 trillion) to support India’s ambitions in becoming a $5 trillion economy, SBI Chairman Dinesh Khara said.

“To really support this kind of activity, there is a need for significantly ramping up the capital of the banking system. Though, as of now, banks are very well-capitalised but seen in the context of a $5 trillion economy, my assessment is that additional capital worth $70 billion would be required for the banking system as a whole,” Khara said at Fibac 2021, a conference hosted by industry body Ficci and the Indian Banks’ Association (IBA).

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MARKETS

Aurionpro Solutions Shares Skyrocketed 15% on Acquiring Stake in Fintra Software

Ali Waghbakriwala

Shares of Aurionpro Solutions Ltd skyrocketed 15%, hitting an intraday high of Rs 1,582 on Friday, 11 April, after the company announced acquiring Fintra Software. 

The company agreed to acquire a 100% stake in Fintra Software Private to strengthen its next-generation trade finance solutions for global banks. The company has acquired all intellectual property rights and related assets from Fintra, aiming to strengthen its position in the Transaction Banking sector.

By integrating Fintra’s solutions, Aurionpro plans to offer a complete end-to-end platform for cash and trade management, further expanding its product suite and reinforcing its presence in the transaction banking space.

Aurionpro Solutions is a technology firm that develops software platforms tailored for Wholesale Banking, particularly in areas like Trade Finance, Supply Chain Finance, Escrow services, and Factoring solutions.

Ashish Rai, Global CEO of Aurionpro, commented, “This acquisition marks an important step for Aurionpro as we double down on our strategic focus to create the future of Trade Finance technology and significantly expand our functional coverage in Transaction Banking. We remain committed to staying ahead of the market in meeting the dynamic demands of our clients, ensuring their corporate clients receive best-in-class services.”

In its quarterly earnings for October-December, the company reported a 5.04% year-on-year (YoY) increase in net profit to Rs 47.34 crore compared to Rs 45.07 crore reported in the same quarter last year.

At 3:30 pm, the shares of Aurionpro Solutions closed 13.31% higher at Rs 1,552 on NSE.

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MARKETS

Hindustan Copper Shares Surge 3% on Resuming Ore Production at Kolihan Copper Mine

Ali Waghbakriwala

Shares of Hindustan Copper Ltd surged 3% on 11 April after the company announced the commencing of copper ore production at the Kolihan copper mine of Khetri copper complex, Khetrinagar, Rajasthan. 

In its regulatory filing, the company said, “It is informed that ore production at Kolihan copper mine of Khetri copper complex, Khetrinagar, Rajasthan (a unit of Hindustan copper Ltd) has resumed today i.e. 10.04.2025.”

The company had executed an agreement with Corporación Nacional del Cobre, Chile, at the beginning of the month for cooperation and exchange of information that was duly organised and incorporated under the laws of the Republic of Chile. 

In its filing, it added that the agreement aims to explore potential joint initiatives in the export, development, and beneficiation of mineral and mining assets. The focus is on identifying opportunities where both parties can collaborate strategically, leveraging shared knowledge and expertise to strengthen their capabilities in the sector. It’s important to note that the agreement is not legally binding but outlines the current intent of both companies to work together.

Established in 1967, HCL is India’s only vertically integrated copper producer and operates under the Ministry of Mines as a central public sector enterprise (CPSE). The company oversees the complete copper production chain—from mining and beneficiation to smelting and refining.

HCL operates major facilities across five key locations in India: the Malanjkhand Copper Project in Madhya Pradesh, the Khetri Copper Complex in Rajasthan, the Indian Copper Complex in Jharkhand, the Taloja Copper Project in Maharashtra, and the Gujarat Copper Project in Gujarat.

While copper concentrate is its primary product, HCL also manufactures refined copper products such as copper cathodes and continuous-cast copper rods. The company’s by-products include anode slime, copper sulfate, and sulfuric acid.

At 3:30 pm, the shares of Hindustan Copper closed 1.41% higher at Rs 199 on NSE.

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MARKETS

Bharti Hexacom Shares Surged 5% on Tower Sale Halted 

Ali Waghbakriwala

Shares of Bharti Hexacom Ltd were trading in the green and 5% higher on Friday 11 April after the company temporarily stopped its contract to sell 3,400 towers to Indus Towers for Rs 1,134 crore.

This comes after the Government of India intervened through Telecommunications Consultants India Limited (TCIL), which owns a 15% share in the company.

In an exchange filing, Bharti Hexacom indicated that the existing proposal has been put on hold and that a new exercise will be conducted after consultation with TCIL.

In February, Indus Towers purchased 16,100 telecom towers from Bharti Airtel and Bharti Hexacom for Rs 3,308.7 crore in cash. It was hoped that the agreement will be completed by 31 March.

Indus announced on Wednesday that it has “executed the transaction” to purchase the passive infrastructure business venture of Bharti Airtel.

The deal required Bharti Hexacom to sell 3,400 towers and Airtel to sell 12,700 towers to Indus.  According to Indus, the planned acquisition will increase the tower company’s market share and assist it to achieve its expansion ambitions while also aligning with its principal business.

At 2:25 pm, the shares of Bharti Hexacom were trading 4.78% higher at Rs 1,501 on NSE.

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MARKETS

Metal Stocks Surge 7% on 90-Day Pause Note 

Ali Waghbakriwala

After US President Donald Trump announced a 90-day stop to the global trade war, metal shares became the largest sectoral gainer today as worries over the conflict subsided. The index also gained momentum after Tata Steel announced plans to restructure its operations in the Netherlands.

The Nifty Metal index grew by 4.44%, the most since 5 March 2025, when it had grown by over 4%. Lloyds Metals and Energy, the index’s biggest gainer, rose 6.81% to hit an intraday high of Rs 1,230 a share on the NSE.

Tata Steel was in second, jumping 5.9% to a high of Rs 134.7 due to its objectives for change in the Netherlands.

Tata Steel Nederland plans to remove around 1,600 jobs in management and support functions as part of a large-scale transformation strategy aimed at enhancing efficiency and preparing for a green steel future.

“This transformation is a building block towards the future,” said T. V. Narendran, CEO and MD of Tata Steel and Chairman of the Supervisory Board of Tata Steel Nederland. “We want to ensure Tata Steel Nederland regains its position as one of the most efficient steelmakers in Europe while taking definitive steps toward sustainability.”

According to the company, these adjustments will improve its operating and financial profile, allowing it to make future investments and maintain its competitiveness in a market that is changing quickly.

Tata Steel will change its operations in the Netherlands and eliminate 1,600 jobs.

The metal majors on the index, which rose up to 4%, included Hindalco Industries, JSW Steel, and the Steel Authority of India.

Tata Steel and Hindalco have significant exposure to US exports. This is why their equities were among the top gainers today following the tariff postponement.

Prior to Trump’s 90-day delay, metal stocks had fallen on expectations of a slowdown in the United States and a rippling effect in other economies, which might reduce demand for metals.  The hefty tariffs imposed on around 60 countries raised concerns about product dumping into countries such as India, depressing native participants in the sector.

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MARKETS

BHEL Shares Gained 2% on Inking MoU with Nuovo Pignone International

Ali Waghbakriwala

The share price of Bharat Heavy Electricals (BHEL) increased by 2% on 11 April after the company signed a long-term (10-year) Memorandum of Understanding (MOU) with Nuovo Pignone International s.r.l. to address compressor revamp opportunities in India’s fertiliser sectors. 

BHEL would be the principal (lead) bidder to the specified clients for addressing the compressor train overhaul business possibilities in India’s fertiliser sector, and Nuovo Pignone International will be nominated as a vendor to BHEL under the subject MoU with a specific scope of work.

On 3 April, Rajasthan Part I Power Transmission, a 100% subsidiary of Adani Energy Solutions (AESL), signed a contract with Hitachi Energy India to design and build 6,000 MW, ±800 kV, bi-pole, and bi-directional high-voltage direct current (HVDC) terminals to transport renewable energy from Bhadla, Rajasthan, to the industrial and transportation hub in Fatehpur, Uttar Pradesh.

On 28 March, a Letter of Intent (LoI) for a project worth Rs 11,800 crore was delivered to the corporation by the Chhattisgarh State Power Generation Corporation Limited (CSPGCL).

The share hit a 52-week high of Rs 335.40 on 9 July 2024, and a 52-week low of Rs 176.00 on 3 March 2025.

At 12:30 pm, the shares of BHEL were trading 1.74% higher at Rs 215.50 on NSE.

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