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By EquityPandit

EquityPandit

EquityPandit
BUSINESS

DCB Bank Appoints New Chairman Rupa Devi Singh

DCB Bank has appointed Rupa Devi Singh as its new part-time chairman, following Nasser Munjee from that position. Her appointment is subject to approval from regulatory authorities like Reserve Bank of India and the shareholders of the Bank.

The bank informed the BSE that the Board of Directors at its meeting held on January 14, 2022 approved the appointment of Rupa Devi Singh, independent director, as non-executive (part-time) chairman. Singh’s appointment will be effective from the date of receipt of the RBI approval. Munjee was the chairman of the bank since August 2005.

Rupa Devi Singh has been a non-executive independent director of the bank from January 22, 2015. She has over 35 years of experience in various sectors viz. commercial banking, project structuring, infrastructure, etc.

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Mazagon Dock, Goa Tie Up for AI-Based Disaster Management; Shares Fall 1%

Dhruva Kulkarni

Shares of Mazagon Dock Shipbuilders Limited fell 1% after touching a day’s high of Rs 2,651.10 on 21st March, despite the firm announcing a collaboration with the Goa State Disaster Management Authority to bolster the state’s disaster preparedness and response capabilities.

Mazagon Dock signed an MoU with the Goa State Disaster Management Authority on 20th March 2025 to develop an AI-powered disaster management system.

The “AI-based Wireless Disaster Detection, Rescue & Communication System,” aims to improve disaster detection, rescue operations, and communication.

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Mazagon Dock stated in its exchange filing today that AI will enhance efficiency in handling disaster situations.

More details on the project’s timeline and features will be shared in the coming months.

Meanwhile, Garden Reach Shipbuilders announced an MoU with PWD Nagaland today to supply eight Double Lane Modular Steel bridges.

At 12:39 PM, the shares of Mazagon Dock were trading 0.88% lower at Rs 2,610.05 on NSE.

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BHEL Jumps 3% on Rs 7,500 Crore Order from Gujarat State Electricity Corp

Dhruva Kulkarni

Shares of Bharat Heavy Electricals Ltd surged 3% to touch a day’s high of Rs 213.67 on 21st March after the company announced a major order win to the exchanges.

BHEL secured a Rs 7,500 crore EPC contract from Gujarat State Electricity Corporation for a 1×800 MW unit in Tapi, Gujarat.

The project includes supplying equipment, boiler, turbine, and generator and handling erection, commissioning, and civil works.

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The order was won through an international competitive bidding process and must be completed in 54 months.

Last month, BHEL won a Rs 6,700 crore order from Singareni Collieries for an 800 MW thermal unit in Telangana.

It also secured a Rs 6,200 crore contract from Damodar Valley Corporation in the same month.

At 12:23 PM, the shares of BHEL were trading 3.08% higher at Rs 212.91 on NSE.

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Hero MotoCorp Gains 2.5% on Rs 525 Crore Investment in Euler Motors

Dhruva Kulkarni

Shares of Hero MotoCorp Ltd rose 2.5% to touch a day’s high of Rs 3,711.90 on 21st March after announcing its entry into the electric three-wheeler market.

Its board approved a Rs 525 crore investment in Euler Motors in multiple tranches to support this expansion.

The investment aims to strengthen its position in the fast-growing EV segment, where electric three-wheelers are expected to make up 35% of total sales.

Euler Motors, present in 30 cities, designs, manufactures, sells, and services electric three and four-wheelers.

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Executive Chairman Pawan Munjal said this investment supports Hero’s expansion into the EV market and future sustainable mobility.

The investment is set to be completed by 30th April 2025, with Euler reporting Rs 172 crore turnover for FY24.

Hero’s profit rose 12% to Rs 1,203 crore in Q3 FY24, while two-wheeler sales grew just 0.3%, the weakest since Q2 FY23.

At 11:43 AM, the shares of Hero MotoCorp were trading 2.25% higher at Rs 3,678.05 on NSE.

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MARKETS

Glenmark Pharma Gains 1.5% on US FDA Nod for Olopatadine

Dhruva Kulkarni

Shares of Glenmark Pharmaceuticals Ltd surged 1.5% to touch a day’s high of Rs 1,509 on 21st March after the firm announced that its subsidiary, Glenmark Pharmaceuticals Inc., USA, has received final approval from the US Food & Drug Administration (USFDA) for its Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC).

Glenmark’s product is bioequivalent to Pataday Once Daily Relief Ophthalmic Solution, 0.2% (OTC), developed by Alcon Laboratories, Inc.

Glenmark Therapeutics Inc., USA, will distribute the product in the US, strengthening its ophthalmic portfolio.

The Pataday 0.2% (OTC) market recorded annual sales of approximately $50.7 million as of 22nd February 2025, per Nielsen data.

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Marc Kikuchi, President & Business Head of North America, emphasised the firm’s commitment to expanding its OTC ophthalmic portfolio.

He stated that adding Olopatadine Hydrochloride Ophthalmic Solution 0.2% reflects Glenmark’s focus on market needs and quality OTC products.

At 11:09 AM, the shares of Glenmark Pharma were trading 1.34% higher at Rs 1,498.65 on NSE.

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MARKETS

GPT Infraprojects Shares Shot Up 13% on Securing Rs 481 Crore Order 

Ali Waghbakriwala

Shares of GPT Infraprojects Ltd shot up more than 13% on Thursday, 20 March, after it emerged as the lowest bidder (L1) for a significant railway infrastructure project. To complete the assignment, the engineering, procurement, and construction (EPC) mode will be employed.

CAO Construction, South Eastern Railway, Kolkata, has awarded a contract worth Rs 481.11 crore for the construction of a significant bridge over the Rupnarayan River.

The project includes an elevated platform, viaducts, and down and middle-line bridges at West Bengal’s Kolaghat station, which is situated on the Howrah-Kharagpur route, according to an exchange filing made by GPT Infraprojects Ltd.

The financial performance of GPT Infraprojects was excellent, as evidenced by the growth in revenue from operations from Rs 253.75 crore in Q3FY24 to Rs 278.07 crore in Q3FY25.

The net profit of the company increased significantly from Rs 14.91 crore in December 2023 to Rs 21.41 crore. Additionally, EBITDA increased 17.99%, from Rs 30.24 crore to Rs 35.68 crore, over the same time last year.

Kolkata-based GPT Infraprojects operates in two business segments: the sleeper division and the infrastructure division. Big bridges and road overbridges for highways and railroads are among the civil and infrastructural projects the company specializes in completing under government contracts.

In the sleeper segment, the company manufactures and supplies concrete sleepers for railroad networks in India and Africa. Panagarh, West Bengal; Ladysmith, South Africa; Tsumeb, Namibia; and Eshiem, Ghana, are the locations of its manufacturing plants.

At 3:30 pm, the shares of GPT Infraprojects closed 6.04% higher at Rs 101.23 on NSE.

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