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EquityPandit

EquityPandit
MARKETS

Deepak Fertilisers Shares Surge 2% as Arm Increases Stake in Platinum Blasting Services 

The deal, worth Rs 64.1 crore (AUD 11.78 million), entailed acquiring shares from existing stakeholders.

Shares of Deepak Fertilisers and Petrochemicals Corporation Ltd surged 2% on 18 February after the company’s wholly-owned subsidiary, Deepak Mining Solutions Ltd, raised its stake in an Australian subsidiary, Platinum Blasting Services Pty Ltd, from 65% to 85%. 

The deal, worth Rs 64.1 crore (AUD 11.78 million), entailed acquiring shares from existing stakeholders.

Platinum Blasting Services, a dividend-generating subsidiary, delivers end-to-end mining solutions. This acquisition supports DMSL’s strategic shift from a commodity-focused business to a full-spectrum mining solutions provider.

In its regulatory filing, the company said, “The said enhancement of shareholding by DMSL in its dividend-paying subsidiary has been consummated based on valuation guidance report from one of the Big 4 accounting firms in Australia, based on earnings multiple.”

The filing added, “We have received the confirmation from Platinum Blasting Services Pty Ltd. regarding the approval of the transfer of aforesaid shares today i.e. 17 February 2025, around 01:33 pm.”

At 2:25 pm, the shares of Deepak Fertilisers were trading 3.67% lower at Rs 949.50 on NSE.

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MARKETS

Advait Energy Shares Surge 7% on Project from Power Grid 

Ali Waghbakriwala

Advait Energy Transitions Ltd stock jumped 7% on 26 March 2025 after the company emerged as the Lowest Bidder (L1) for PACKAGE OPGW-04 from Power Grid Corporation of India. 

The company was awarded the PACKAGE OPGW-04: OPGW supply and installation package for several transmission lines throughout India under bulk implementation (supply+erection) for communication equipment and OPGW, the exchange filing stated. 

A follow-up release will give more details following receipt of the Letter of Intent or Award.

Advait Energy Transitions Limited, with its headquarters in Ahmedabad, offers dependable machinery and all-inclusive solutions for power transmission, substation, and telecommunications infrastructure. The company branched out into renewable energy in 2023.

Since its founding in 2009, Advait Energy Transitions Limited has focused on creating ACS wire, stringing tools, ERS, OPGW operations, live line installations, green energy, and turnkey telecom projects. Alkaline and PEM electrolyser systems, hydrogen blending systems, fuel cell systems, hydrogen refuelling stations (HRS), and hydrogen storage units are all available from the company.  

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Additionally, the business offers transmission line towers, conductors, insulators, stringing tools, substation services, and power transmission.

A state-owned electric utility company with a focus on electricity transmission is called Electricity Grid Corporation of India Limited. It manages India’s largest transmission network and plays a significant role in both the national and regional electrical grids. The power grid is crucial for moving electricity from power plants to various states and areas across the country in order to guarantee a consistent supply of electricity.

Power Grid is actively working to expand and improve the transmission infrastructure in order to meet the country’s growing demand for electricity. Renewable energy sources will be incorporated into the national grid as part of this.

At 3:07 pm, the shares of Advait Energy were trading 2.07% higher at Rs 1,190 on NSE.

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MARKETS

Battery Manufacturing Company Shares Soar 5% on Positive News for Lithium-ion Batteries

Ali Waghbakriwala

The shares of battery manufacturers Amara Raja and Exide Industries increased 5% and 4%, respectively, on Wednesday, 26 March, after the Center increased the safe harbour threshold to Rs 300 crore from the current Rs 200 crore to include lithium-ion batteries used in electric or hybrid electric vehicles as “core auto components.”

It is expected that the action will benefit battery producers by protecting India’s electric vehicle (EV) ecosystem, encouraging investment, and lowering compliance risks. Due to the rule’s new classification of lithium-ion batteries as “core auto components,” importers can now have their declared transfer prices accepted with minimal investigation.

When conducting cross-border business, companies may buy and sell goods between their subsidiaries; the term “transfer price” refers to the price at which these transactions occur.  Businesses are closely monitored by tax authorities to ensure they are not manipulating these prices to shift earnings to countries with lower taxes.

As long as businesses declare transfer prices within the permitted range, tax authorities will accept them without any problems, according to the safe harbour expansion of the CBDT. This ensures a smoother import process for EV battery parts and removes a major regulatory obstacle.

At 2:20 pm, the shares of Amara Raja were trading 0.31% higher at Rs 1,058.70, and Exide Industries were trading % higher at 0.42% higher at Rs 361.70 on NSE. 

Amara Raja Insights? Let the Analyst Guide You.

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MARKETS

Larsen and Toubro Shares Gain 1% on Securing Rs 15,000 Crore Order 

Ali Waghbakriwala

Shares of Larsen & Toubro (L&T) were trading in the green and almost 1% higher on 26 March after the company announced that they had received the largest order for its offshore hydrocarbon business, valued at over Rs 15,000 crore from QatarEnergy LNG.  

A leading global LNG company has awarded L&T Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) the contract for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4).

S N Subrahmanyan, Chairman & Managing Director- L&T, commented, “This prestigious project strengthens our global energy portfolio while supporting Qatar’s energy security objectives. I thank QatarEnergy LNG for placing their trust in L&T to deliver this complex and strategically important project.”

As per the company’s regulatory filing, the scope of the order entails the engineering, acquisition, manufacturing, installation, and commissioning of two offshore compression complexes. These complexes will be located around 80 kilometres off the northeast coast of Qatar and will include living quarters, flare platforms, interconnecting bridges, massive offshore platforms with compression and power generation facilities, and other related buildings.

At 12:59 pm, the shares of L&T were trading 0.05% higher at Rs 3,471.50 on NSE. 

Wondering About Larsen and Toubro Ltd? The Analyst Has Answers.

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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.

Curious About Waaree Renewable Technologies Ltd? Ask the Analyst.

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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. 

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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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