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EquityPandit

EquityPandit
MARKETS

IRCON International Shares Surge 4% After Execution of Contract by Sri Lanka Railways

Retail investors raised their stakes in the company to 25.56% against 23.41% reported at the end of June quarter. 

IRCON International, a Ministry of Railways company, saw its shares gain as much as 4% during the early hours on Monday after the company executed the contract agreement with Sri Lanka Railways. 

In an exchange filing on Friday, the public sector company announced that it had executed the contract agreement with the Ministry of Transport, Sri Lanka, under the Indian Line of Credit at a total consideration of $14.89 million or Rs 122 crore. 

The work contract includes the procurement of design, installation, testing, commissioning and certifying of the Signalling and Telecommunication system from Maho Junction (Including) to Anuradhapura (Excluding). The contract will be completed within 24 months from the date of signing the contract, which is September 21.

As of June 30, IRCON’s order book stood at Rs 324 billion in railways and other segments like metros, roads, and other infrastructure spheres.

IRCON shares were trading at Rs 144.00, 1.80% higher than the previous closing price on the National Stock Exchange (NSE). The scrip surged 4.17% in the early hours to reach an intraday high of Rs 147.35. 

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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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MARKETS

HCL Technologies Shares Gain 3% on Partnering Up with Western Union 

Ali Waghbakriwala

Shares of HCL Technologies Ltd were trading in the green and 3% higher on 25 March after the company announced that they have partnered with Western Union to encourage innovation and change in the financial services industry.

Through the partnership, Western Union will use HCLTech’s AI-powered solutions, FENIXAI and AI Force, to accelerate its transition to a platform-centric operating model, which will allow for more agility and scalability.

Additionally, HCLTech will help Western Union enhance its platform and channel capabilities. The enterprise’s infrastructure will be transformed by HCLTech, which will encourage data-driven decision-making and resiliency.

Additionally, in collaboration with HCLTech, Western Union will open a state-of-the-art technological facility in Hyderabad, India.
 
C Vijayakumar, CEO and managing director of HCLTech, said, “This strategic partnership emphasizes our focus on empowering fintech companies through digital engineering led transformation and creating exceptional value for their stakeholders. We remain deeply committed to Western Union’s growth journey through innovative solutions that deliver real business outcomes.”

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The Western Union Company offers cross-border, cross-currency money movement, payments, and digital financial services that connect individuals, businesses, financial institutions, and governments to billions of bank accounts, millions of digital wallets and cards, and hundreds of thousands of retail locations across more than 200 countries and territories and more than 130 currencies.

HCLTech is an international technology company with over 220,000 workers in 60 countries. It has industry-leading expertise in digital, engineering, cloud, and artificial intelligence, all backed by a broad range of technology services and solutions. The company provides clients in all of the primary verticals with industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services.

At 1:39 pm, the shares of HCL Tech were trading 1.68% higher at Rs 1,631.10 on NSE.

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MARKETS

Garden Reach Shares Surge 5% on Contract with Companies in Germany 

Ali Waghbakriwala

Shares of defence PSU Garden Reach Shipbuilders & Engineers Ltd (GRSE) rose 5% on 25 March after the company announced that it had signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG, based in Germany, for the construction and delivery of the seventh and eighth 7,500 DWT multi-purpose vessels (MPVs).

The deal, which was finalised in Hamburg, Germany, concludes an eight-ship series under an earlier option agreement between the two companies, the business said in a regulatory filing. 

With this most recent agreement, GRSE’s entire order for these vessels is still worth about $108 million, and the financial parameters have not changed. With a single cargo hold that can accommodate bulk, general, and project goods in addition to containers on hatch covers, each 120-meter-long by 17-meter-wide MPV is built to carry 7,500 tonnes of cargo.

Notably, these ships are built to support enormous windmill blades, proving GRSE’s ability to construct specialised vessels to satisfy shifting industrial needs.

Last Monday, the business signed a contract with PWD Nagaland to deliver eight double-lane modular steel bridges, enhancing connectivity throughout the state. Its already impressive portfolio of modular bridge projects is expanded with the delivery of over 5,800 units to states, the Border Roads Organisation (BRO), NHIDCL, and nations including Bangladesh, Bhutan, Nepal, Myanmar, and Sri Lanka.

At 11:40 am, the shares of Garden Reach Shipbuilders were trading 0.17% higher at Rs 1,707.60 on NSE.

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MARKETS

Stocks in Focus: Rail Vikas Nigam, Garden Reach Shipbuilders, HCL Tech, and Others

Ali Waghbakriwala

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.10% higher by 23.5 points at 23,771, indicating that the domestic benchmark indices are likely to make a positive start on Tuesday.

On Monday, 24 March, Domestic benchmark indices S&P BSE Sensex soared by 1,078.87 points or 1.40%, and settled at 77,984.38 while the Nifty50 traded 1.32% higher by 307.95 points, settling at 23,658.35.

Here are some stocks that are likely to remain in focus on 25 March.

Rail Vikas Nigam: The company has emerged as the lowest bidder for a project worth Rs 115.79 crore from Central Railway. The scope of the project involves OHE modification work for the upgradation of the existing 1×25 KV electric traction system to 2×25 KV at the feeding system in the Itarsi-Amla section in the Nagpur division of Central Railway to meet the 3000 MT loading target.

Garden Reach Shipbuilders: The company has announced inking a contract with Reederei GmbH & Co. KG and Carsten Rehder Schiffsmakler, Germany, for constructing and delivering the 7th and 8th multi-purpose vessels of 7,500 DWT in Hamburg, Germany.

HCL Technologies: The company has formed a strategic partnership with Western Union to drive innovation and transformation in the financial services industry. As a part of the agreement, both companies will set up an advanced technology centre in Hyderabad to further enhance Western Union’s global technology capabilities. 

Gujarat Narmada Valley: The company has announced the signing of an agreement with Thyssenkrupp Udhe India to supply a weak nitric acid-III plant on an LEPC basis. 

Easy Trip Planners: The Board of Directors of the company has approved the acquisition of a 49% stake in Big Charter. The board has also approved investing 1,000 Brazilian Real in its subsidiary Easy Trip Planners Do Brasil Ltda and 50,000 Riyals in Easy Trip Planners, Saudi Arabia.

Brigade Enterprises: The company has announced the acquisition of a 4.4-acre land parcel in East Bengaluru to develop a residential project. The project will have a total development potential of 0.6 million square feet and a gross development value of Rs 950 crore. 

Hyundai Motors India: The company has announced an investment of Rs 694 crore for a new tooling centre, which will be dedicated to the manufacturing of stamping tools and panel production for vehicles. The move of this investment is aimed towards boosting localisation of the production process and strengthening its supply chain. 

Britannia Industries: Operations at the company’s plant in Jhagadia, Gujarat, has been partially affected by the workers strike that began on 24 March. The company stated that they are constantly talking with the workers to deescalate the situation and resolve it. 

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