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EquityPandit

EquityPandit
MARKETS

Phoenix Mills Shares Rally 5% as Company Launches New Mall in Bengaluru

The company posted a 58.4% YoY increase in its consolidated net profit to Rs 279.4 crore.

Shares of Phoenix Mills rallied 5% on 27 October after the company announced the launch of a new mall in the city of Bengaluru.

In its regulatory filing, the company said that the Phoenix Mall of Asia will be built on 12 lakh square feet of land, which will feature 440 brands and a 250,000-foot entertainment zone and is set to create 5,000 jobs in the city.

This will be second mall that will be developed by the company in Bengaluru and will be built in partnership with CPPIB. The mall will have a commercial office space area of 8 lakh square feet that will be constructed in a phased manner. The construction of the said mall will start this year.

Shishir Shrivastava, Managing Director at Phoenix Mills, said, “This development is strategically located amidst growing residential areas, IT Parks and office development sites in a rapidly developing area of the city and it has easy access from the airport and seamless connectivity to other city centres through means like the new metro.”

The mall will also be a destination for luxury brands, including Versace, Emporio Armani, Rolex, and many more.

The shares of the company have rallied more than 30% in a period of six months.

At 3:30 pm, the shares of Phoenix Mills closed 2.60% above at Rs 1,792.05 on NSE.

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MARKETS

Coal India Signs MoU with Mines Ministry to Advance Critical Minerals Tech, Shares Up 1.5%

Dhruva Kulkarni

Shares of Coal India Ltd surged 1.5% to hit the day’s high of Rs 392 on 18th March after the company announced that it had signed a Memorandum of Understanding (MoU) with the Non-Ferrous Materials Technology Development Centre (NFTDC).

Coal India signed a non-binding MoU with NFTDC on 15th March 2025 in Hyderabad to enhance technology development in the critical minerals sector.

NFTDC, an autonomous R&D body under the Ministry of Mines, will collaborate with Coal India to drive innovation in critical minerals.

The partnership aligns with the government’s push for self-reliance and technological progress in the mining sector.

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Coal India’s February production fell 0.8% year-over-year to 74.1 MT, while total output rose 1.5% to 695.3 MT, achieving 83% of its 838 MT target for FY25.

The company must produce 142 MT in March to meet its annual guidance.

February offtake declined 4.8% year-over-year to 62.1 MT, with total offtake reaching 693.4 MT, up 1.3%.

At 12:57 PM, the shares of Coal India were trading 1.41% higher at Rs 391.20 on NSE.

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Aditya Birla Real Estate Jumps 6.5% as Unit Unveils New Residential Project

Dhruva Kulkarni

Shares of Aditya Birla Real Estate Ltd surged 6.5% to hit the day’s high of Rs 1,908 on 18th March after the company announced that its wholly-owned subsidiary, Birla Estates Private Limited, has launched a residential project, Birla Punya, in Pune, with an estimated revenue potential of Rs 2,700 crore.

Spanning 5.76 acres in Central Pune (Sangamwadi), the project offers 1.6 million sq. ft. of saleable area with 1,000 luxury flats across four towers.

Phase 1 includes two towers with 500 units, offering 1 BHK to 4 BHK residences inspired by Pune’s cultural heritage and architectural style.

The project is well-connected to key Pune hubs, metro stations, and the Mula-Mutha Riverfront, surrounded by greenery.

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It features over 50 world-class amenities, including alfresco dining, retail spaces, a riverside promenade, and eco-friendly initiatives like solar power and rainwater harvesting.

Birla Estates is expanding in Pune, acquiring a 16.5-acre land parcel in Manjri and strengthening its presence in NCR and Bengaluru with projects like Birla Arika and Birla Evara.

At 12:44 PM, the shares of Aditya Birla Real Estate were trading 6.16% higher at Rs 1,868.20 on NSE.

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IRCON International Shares Skyrocketed 8% as JV Secures Rs 1,096 Crore Order 

Ali Waghbakriwala

The share price of IRCON International broke a five-day losing streak and skyrocketed 8% on 18 March after the company’s Joint Venture (JV) announced securing an EPC contract worth Rs 1,096 crore. 

The company, in partnership with Badri Rai and Company (BRC), was given an EPC contract of Rs 1,096,17,25,961.15 by the Directorate of Urban Affairs, Government of Meghalaya. IRCON holds a 26% stake in the JV, taking its total consideration to Rs 285 crore 

A new secretariat complex with campus infrastructure is to be constructed in New Shillong City, Meghalaya, on an engineering, procurement, and construction (EPC) basis. The said contract has to be executed within 36 months from the date of receipt. 

The company’s net profit suffered a steep 65% year-on-year (YoY) decline to Rs 86 crore for the third quarter of the current fiscal year from Rs 244.70 crore at the same time last year.

Additionally, revenue decreased by 10% year over year to Rs 2,612.86 crore from Rs 2,929.54 crore during the same period last year.

Established in 1976 by Indian Railways under the Indian Companies Act, Ircon International is a prominent engineering and construction firm specializing in transport infrastructure. Renowned for its expertise in turnkey construction, the company undertakes projects in railways, highways, EHV sub-stations, and metro rail systems, while also expanding into other areas of transport and infrastructure development.

At 12:29 pm, the shares of IRCON International were trading 5.38% higher at Rs 145.60 on NSE.

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Shilpa Medicare Rallies 10% as Unit Partners with Swiss Firm for Cancer Drug

Dhruva Kulkarni

Shares of Shilpa Medicare Ltd surged 10% to hit the day’s high of Rs 710.90 on 18th March after the company announced that its subsidiary, Shilpa Biologicals, has entered into a strategic partnership with Switzerland-based mAbTree Biologics AG to co-develop and manufacture a novel immuno-oncology therapy.

Shilpa Biologicals will manage drug development, clinical trials, and long-term supply from its GMP facility in Dharwad, Karnataka.

The therapy is a fully human monoclonal antibody targeting a new immune checkpoint protein to enhance T-cell activation and immune response against cancer.

Researchers believe it can convert ‘cold’ tumours into ‘hot’ ones, improving treatment response for lung and head and neck carcinomas.

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The program aims to develop a therapy similar to PD-1/PD-L1 inhibitors, potentially as a standalone and combination treatment.

Shilpa Biologicals sees this partnership as part of its mission to deliver innovative and affordable oncology treatments worldwide.

mAbTree CEO highlighted the goal of expanding access to cancer treatments in India and other underserved markets, leveraging Shilpa’s expertise.

At 11:48 AM, the shares of Shilpa Medicare were trading 9.97% higher at Rs 693.25 on NSE.

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Star Cement Shares Surge 3% on Acquiring License for Limestone Block 

Ali Waghbakriwala

Shares of Star Cement Ltd surged 3% on 18 March after the company announced that its subsidiary, Star Cement Meghalaya Ltd, was declared by the Assam government as the “preferred bidder” for the composite license of the Boro Hundong limestone block. 

In its regulatory filing, the company said, “This is to inform you that the M/s Star Cement Meghalaya Limited, a Subsidiary of the Company, has been declared as the ‘Preferred Bidder’ for the Composite License of Boro Hundong Limestone Block in e-auctions conducted by the Government of Assam.”

The aforementioned 400-hectare block is situated in the Assamese district of Dima Hasao (formerly known as North Cachar Hills) and is expected to have 146.75 million tonnes of limestone.

Recently, Star Cement proposed a Rs 3,200-crore cement clinker and grinding plant in Assam.

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Earlier on Wednesday, on the final day of the Advantage Assam business summit, Chief Minister Himanta Biswa Sarma announced that a Memorandum of Understanding (MoU) had been signed between the company and the state government.

In addition, the state government and Matheson Hydrogen Lvt Ltd signed a contract for the establishment of a hydrogen and steam-producing facility worth Rs 1,500 crore.

The state government also signed two non-monetary agreements with ITE Education Service and a Memorandum of Understanding with Global Health Ltd. for Rs 500 crore.
 
Star Cement, an Indian cement manufacturer, is well known for producing high-quality cement for use in both residential and commercial structures.  Based in eastern India, the company is renowned for its substantial presence in Meghalaya, West Bengal, and Assam.  Star Cement produces a range of cement products, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Portland Slag Cement (PSC), to satisfy various construction needs.

At 11:45 am, the shares of Star Cement were trading 2.52% higher at Rs 208.99 on NSE.

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