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EquityPandit

EquityPandit
MARKETS

BHEL Slips 18% on Lower Than March Quarter Results

The company reported a net loss of Rs 149 crore for the quarter.

Bharat Heavy Electricals Limited (BHEL) shares have slipped 18 per cent to Rs 62.55 on the Bombay Stock Exchange in intra-day trade on Monday after the company reported a lower-than-expected set of numbers for the quarter ended March 2021 (Q4FY21).

In Q4FY21, BHEL reported a net loss of Rs 1,036 crore as against a loss of Rs 1,532 crore in the year-ago quarter. Revenues grew 42 per cent year-on-year (YoY) at Rs 7,171 crore on a low base, with some impact of execution headwinds and pandemic. EBITDA (earnings before interest, taxes, depreciation, and amortization) level loss came in at Rs 1,264.3 crore as against a loss of Rs 561.7 crore in Q4FY20 owing to lower-than-expected execution and higher-than-expected operating expenses.

“Overall, Q4FY21 appears to be muted as operating losses further widened despite some rebound in execution amid a low base. However, recent execution headwinds in the power segment due to various issues leading to project delays and working capital stress continues to be major near term challenges and needs to be resolved quickly to regain profitability amid pandemic,” ICICI Securities said in a note.

However, BHEL has initiated stringent measures on the cost control front to improve operational performance, working capital situation and focusing on new growth opportunities in oil and gas, transportation defense and aerospace for utilizing manufacturing facilities and to achieve diversification, the brokerage firm added.

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MARKETS

NCC Shares Surge 3% on Bagging Order Worth Rs 1,480 Crore 

Ali Waghbakriwala

Shares of NCC Ltd surged 3% on 24 March after the company announced securing a letter of acceptance (LoA) from Bihar Medical Services and Infrastructure Corporation Limited to the company for the redevelopment of Darbhanga Medical College & Hospital in Laheriasarai.
 
In its regulatory filing, the company said, “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform that, today the Company has received Letter of Acceptance dated 21 March 2025 from Bihar Medical Services & Infrastructure Corporation Limited for Redevelopment of Darbhanga Medical College & Hospital at Laheriasarai, Darbhanga.”

The project must be completed within 42 months and has a total value of Rs 1480.34 crore. 

The company was recently given a Rs 2,129.6 crore contract by the Andhra Pradesh Capital Region Development Authority.

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In an exchange filing, the company said, “We are pleased to inform that, the Company has received Letter of Acceptance dated 19 March, 2025, from Andhra Pradesh Capital Region Development Authority for construction of roads, drains, water supply, sewage, utility ducts for power and ICT, reuse waterline and avenue plantation etc. at Zone-12 villages area in Amaravati Capital City, Andhra Pradesh.” 

NCC will construct roads, drains, water supply, sewage, power and ICT utility ducts, reusing water lines, and avenue plantations in accordance with the order’s terms using a lump sum contract (percentage tender). 

NCC Ltd. is an Indian company that develops buildings and infrastructure. In a range of industries, including commercial, residential, industrial, and transportation infrastructure, it is well known for completing large-scale projects. The company builds power plants, water supply systems, roads, highways, bridges, and urban and rural development projects. 
 
By putting quality, safety, and sustainability first, NCC Ltd. has built a strong reputation for finishing difficult projects on time and within budget. Its diverse portfolio includes both governmental and private sector clients, and it operates both domestically and internationally in India. 

At 1:32 pm, the shares of NCC were trading 1.16% higher at Rs 208.43 on NSE.

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MARKETS

RailTel Corporation Shares Skyrocketed 9% on Receiving Order From HPCL

Ali Waghbakriwala

Shares of RailTel Corporation of India Ltd skyrocketed on 24 March after receiving an order for Rs 25.15 crore from Hindustan Petroleum Corporation.

The agreement is valued at Rs 25.15 crore (without tax) and covers the renewal of existing MPLS and ILL links for five years. It also includes the potential for further connections, contingent on practicality. Following 1 April 2025, the agreement is set to expire on 31 March 2030.

This follows RailTel’s recent disclosure that the Ministry of Defence had issued a work order for OFC Laying Work, valued at Rs 16.89 crore (tax included).

The Board of Directors of the company had approved a second interim dividend of Rs 1 per share of the current fiscal year and had set 2 April 2025 as the record date and 9 April 2025 as the dividend payment date. 

In Q3FY25, RailTel’s net profit increased by 5% year over year to Rs 65 crore. Revenue increased 15% year over year at Rs 768 crore. In contrast, EBITDA fell 6.6% YoY to Rs 121 crore from Rs 129.7 crore in the same period the previous year. Consequently, the EBITDA margin dropped to 15.8% from 19.4% in Q3FY24.

At 12:28 pm, the shares of RailTel Corp were trading 5.62% higher at Rs 527.15 on NSE.

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MARKETS

Godrej Properties Shares Gained 2% on Acquiring Land in Bengaluru

Ali Waghbakriwala

The share price of Godrej Properties Ltd rose by more than 2% on 24 March after the business purchased 10 acres of land in Bengaluru.

In its regulatory filing, the company said, “announced the acquisition of ~ 10 acres of land in Yelahanka, Bengaluru, which is estimated to have a developable potential of ~ 1.5 million square feet of saleable area, for residential development, with an estimated revenue potential of ~ Rs 2,500 crore.”

The project is set to feature approximately 1.5 million square feet of developable space, primarily comprising premium residential units in various configurations, along with high-street retail outlets.

Situated along NH-44, the land is in a strategic, high-growth zone. Yelahanka, one of North Bengaluru’s fastest-growing residential and commercial hubs, is well-connected to Bengaluru International Airport Road and offers robust social and civic infrastructure, including multi-speciality hospitals, shopping complexes, residential townships, and upcoming commercial developments.

The area also enjoys seamless connectivity to Kempegowda International Airport, the Outer Ring Road (ORR), and key IT hubs, making it a prime location for residential and mixed-use projects.

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This acquisition reinforces Godrej Properties’ commitment to expanding in Bengaluru’s high-potential markets.

Gaurav Pandey, MD & CEO of Godrej Properties, stated that Yelahanka is a key micro-market for the company, and adding this land parcel aligns with its strategy of strengthening its presence across India’s major cities.

Earlier this month, the company ended its agreement with TCM (formerly Travancore Chemical & Manufacturing Co. Ltd.) to develop a plot of land in Thrikkakara, Kochi.

The company sold inventory in the Godrej Evergreen Square project in Hinjewadi, Pune, in February for almost Rs 1,000 crore, just four months after acquiring the site.

At 11:27 am, the shares of Godrej properties were trading 1.80% higher at Rs 2,182.45 on NSE.

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MARKETS

Stocks Under F&O Ban: Polycab India, and Others

Ali Waghbakriwala

Under the futures and options (F&O) segment, three stocks were banned from trade on Monday, 24 March, by the National Stock Exchange (NSE). The securities banned for the F&O trade are Hindustan Copper, IndusInd Bank, and Polycab India.  

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, IndusInd Bank, and Polycab India were retained on the list from Friday as the open interest as a percentage of the MWPL of its F&O contracts stood at 82.2%, 94.8%, and 83.4%, respectively. 

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

Stocks in Focus: NCC, Power Mech Projects, Godrej Properties, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.12% higher by 27 points at 23,505, indicating that the domestic benchmark indices are likely to make a positive start on Monday.

On Friday, 21 March, Domestic benchmark indices S&P BSE Sensex gained by 557 points or 0.73% and settled at 76,905, while the Nifty50 traded 0.69% higher by 159 points, settling at 22,350.

Here are some stocks that are likely to remain in focus on 24 March.

NCC: The company has received a Letter of Acceptance (LoA) worth Rs 1,480.34 crore from Bihar Medical Services & Infrastructure Corporation. The scope of the project involves the redevelopment of a medical college and hospital, along with other buildings at the existing campus of Darbhanga Medical College & Hospital in Laheriasarai, Darbhanga.

Godrej Properties: The company has announced the acquisition of a 10-acre plot of land in Yelahanka, Bengaluru. A premium residential project with a high-street retail component is said to be constructed on the newly acquired land, which will have a revenue potential of Rs 2,500 crore. 

Power Mech Projects: The company has announced that it is securing a contract from Bharat Heavy Electricals Ltd (BHEL) for a total consideration of Rs 579 crore. The contract is for civil, structural, and architectural works at a Jharkhand-based power plant.

Welspun Corp: The company has secured Rs 476.39 crore from a strategic investor after finalizing the sale of a 74% equity stake in its wholly-owned subsidiary, Nauyaan Shipyard (NSPL). As a result, NSPL is no longer a subsidiary and is now classified as an associate company. 

Alembic Pharma: The US Food and Drug Administration (USFDA) conducted an inspection at the company’s API-III facility at Karakhadi between 17 March and 21 March. The US regulator concluded the inspection by issuing a Form 483 with zero observations. 

Larsen and Toubro: The Board of Directors of the company has approved long-term borrowing of around Rs 12,000 crore, which includes term loans, non-convertible debentures, external commercial borrowings, or any other instrument.

TVS Holdings: The company has announced an interim dividend of Rs 4.75 per share for the current financial year 2024-25.

IRCON International: Conarch Associates has filed a Rs 158.89 crore claim against IRCON International in the Arbitral Tribunal. The dispute relates to the supply and stacking of 50mm Pakur Variety Machine Crushed Track Ballast for the new broad gauge (BG) railway line from Jaynagar (India) to Bardibas (Nepal), specifically for the Nepal section of the project.

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