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EquityPandit

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ECONOMY

PM e-Vidya Scheme Expanding to Educational Channels

The education ministry is trying to extend the PM e-Vidya scheme by increasing education channels from Class 1 to 12. The government had contributed Rs 14.75 crore to develop e-learning during Covid-19. The government can increase the spending by at least 30 per cent in FY22.


“There is an extra thrust on the PM e-Vidya program. It is the need of the hour. A special emphasis will be on initiatives like DIKSHA (Digital Infrastructure for Knowledge Sharing) and Swayam Prabha,” an official said.
Swayam Prabha is a group of 32 DTH channels dedicated to telecast educational programs 24/7 by using the GSAT-15 satellite. They have 12 channels, one for every class.

“Even if a student doesn’t have a laptop or computer, they will be able to watch educational channels for their respective class on television. This guarantees academic continuity,” another official added. The DIKSHA platform offers teachers, students, and parents learning material. Students can download the DIKSHA application and scan the textbook QR code for accessing study materials.

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MARKETS

NBCC Shares Surge 4% on Signing MoU with Mahatma Phule Renewable

Ali Waghbakriwala

Shares of NBCC (India) Ltd surged 4% on Thursday, 27 March, after the company announced signing a Memorandum of Understanding (MoU) for a total consideration of Rs 25,000 crore with Mahatma Phule Renewable Energy and Infrastructure Technology Limited.

This collaboration focuses on executing consultancy, fee-based, EPC, and redevelopment projects, covering the entire lifecycle from concept to commissioning.

For the first time outside Delhi, NBCC will enter Maharashtra’s redevelopment sector through this partnership. The joint effort with Mahatma Phule Renewable Energy will drive key infrastructure projects across the state, including:

  • Cluster development projects under Thane Municipal Corporation
  • Data centres and renewable energy initiatives
  • Slum rehabilitation projects in the Mumbai Metropolitan Region (MMR)
  • Residential developments under Pradhan Mantri Awas Yojana (PMAY)

These projects will be rolled out in phases over the next three to five years, promoting sustainable urban development and affordable housing, aligning with India’s national vision. The Memorandum of Understanding (MoU) aims to leverage the expertise of both entities, enhancing client acquisition and service delivery capabilities for long-term impact.

NBCC (National Buildings Construction Corporation): A leading Public Sector Undertaking (PSU) engaged in construction and real estate, spearheading infrastructure projects across India and globally.

Mahatma Phule Renewable Energy and Infrastructure Technology Ltd: A subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC) under the Government of Maharashtra. The company focuses on renewable energy projects, primarily solar power parks, including substations and transmission networks under various ownership models.

At 3:30 pm, the shares of NBCC closed 2.59% higher at Rs 83.17 on NSE.

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MARKETS

Welspun Enterprises Shares Trade 2% Higher as Arm Secures Rs 79 Crore Order 

Ali Waghbakriwala

Shares of Welspun Enterprises Ltd were trading 2% higher on 27 March after the company’s subsidiary, Welspun Michigan Engineers, secured a project from the Vadodara Municipal Corporation for a total consideration of Rs 79.29 crore. 

The order is for the rehabilitation of a major drainage line in the West Zone of Vadodara, Gujarat and is expected to be completed within a year, excluding any disruption caused by the monsoon season. 

The scope of the project involves rehabilitating an existing 1,800 mm diameter drainage line with the help of advanced trenchless technology that is designed to minimise the environmental and social disruptions typically associated with traditional construction methods.

Saurin Patel, Managing Director of Welspun Michigan Engineers, said, “This order for rehabilitating drainage lines in Vadodara using trenchless technology enables us to rejuvenate existing infrastructure while minimising societal costs, disruptions, and the environmental impact of traditional construction methods. It also marks our entry into a new market and serves as a strategic step in WMEL’s plans to expand into new geographies for growth.”

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The latest order further strengthens Welspun Michigan Engineers Ltd (WMEL) ‘s expanding portfolio, reinforcing its expertise in urban infrastructure solutions. The company specialises in advanced techniques such as micro tunnelling, segment tunnelling, and pipeline rehabilitation.

WMEL has successfully executed high-impact projects in cities like Mumbai, Delhi, Ahmedabad, and Cuttack, utilising trenchless technologies to develop sewerage networks and stormwater drainage systems with minimal environmental disruption.

Formerly known as Michigan Engineers Private Ltd, WMEL continues to focus on trenchless urban infrastructure, including pipeline rehabilitation, pumping stations, and other critical urban structures.

At 2:14 pm, the shares of Welspun Enterprises were trading 0.95% higher at Rs 505.85 on NSE.

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MARKETS

Tata Motors Shares Slump 6% on Auto Imports Tariffs by Trump 

Ali Waghbakriwala

Shares of Tata Motors Ltd, the parent company of Jaguar Land Rover (JLR) and a manufacturer of passenger and commercial vehicles, fell as much as 6% on Thursday, 27 March, after US President Donald Trump announced that he would impose 25% tariffs on automobiles that are not made in the US.

These tariffs will take effect on 2 April, the day Trump also declares reciprocal levies on countries, the specifics of which are still unknown.

The United States is a major market for Jaguar Land Rover, with about one-third of its sales in 2024 coming from North America, primarily the US. JLR’s fiscal year 2024 annual report states that 22% of its entire revenues came from the US market.

Tata Motors’ management has reiterated that JLR will meet its fourth quarter projection of 10% EBIT margins and be net debt-free by the end of the current fiscal year. 

Vehicles sold by Jaguar Land Rover (JLR) in the US, which are predominantly produced in the UK and other international plants, will now be subject to a 25% import tariff.

In Q3, the company faced challenges due to weaker margins and lower JLR sales volumes despite an improvement from the previous quarter. The EBITDA margin declined by 200 basis points, settling at 14.2%. Meanwhile, JLR’s profit before tax (excluding exceptional items) dropped to £523 million, compared to £627 million in the same period last year.

At 1:02 pm, the shares of Tata Motors were trading 5.58% lower at Rs 668.70 on NSE.

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MARKETS

Wipro Shares Gain 2% on Inking Deal With ReAssure UK

Ali Waghbakriwala

Shares of Wipro Ltd were trading in the green and 2% higher on 27 March after the company announced a massive 10-year, $650-million deal with ReAssure UK Service, a division of Phoenix Group, the top long-term savings and retirement company in the UK.   

The agreement was signed by Wipro and its fully owned subsidiary, Wipro Financial Outsourcing Services, to offer platform-based life and pension third-party administration services for ReAssure. The partnership focuses on life and pension business administration for ReAssure, aiding Phoenix Group’s operational transformation, the company announced in a press release.

As part of the agreement, Wipro Financial Outsourcing Services Limited (WFOSL), Wipro’s FCA-regulated entity, will oversee life and pension administration for ReAssure customers. The scope of services includes:

  • Policy Administration
  • Claims Processing
  • Customer Service Support
  • Data Management & Reporting
  • Compliance & Regulatory Assistance
  • Platform Technologies

Phoenix Group CEO Andy Briggs expressed confidence in Wipro’s capabilities, stating, “Wipro’s expertise in technology and services makes them the perfect partner to enhance service and value for our ReAssure customers throughout their retirement journey. We are pleased to welcome them as a key strategic partner in this phase of our transformation.”

At 12:51 pm, the shares of Wipro were trading 1.57% higher at Rs 271.60 on NSE.

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MARKETS

IRM Energy Shares Skyrocketed 14% on Contract to Deliver RLNG

Ali Waghbakriwala

Shares of IRM Energy Ltd skyrocketed 14% on 27 March after the company announced signing a five-year contract with Shell’s India business for the delivery of Regasified Liquefied Natural Gas (RLNG).

The company said in an exchange filing that it will purchase 1.23 crore British thermal units (MMBtu) at a gross calorific value (GCV) of 9,500 kilocalories (k/cal), or roughly 326.84 million metric standard cubic meters (mmscm). 

In its filing, it said, “This agreement marks a significant milestone in IRM Energy’s strategic growth, ensuring stable and cost-effective energy supplies for its customers.”

The partnership with Shell is expected to enhance IRM Energy’s ability to provide cleaner and more affordable fuel options, bolstering India’s energy security and sustainability goals, the statement added. “By leveraging Shell’s global expertise in LNG, IRM Energy aims to enhance its service capabilities, helping businesses transition towards greener energy alternatives and reducing their carbon footprint.”

Manoj Kumar Sharma, chief executive officer at IRM Energy, said, “With this partnership, we are confident in ensuring stable gas supplies that will support economic development and clean energy adoption.” 
 
The company is an Indian city gas distribution company that works in Banaskantha (Gujarat), Fatehgarh Sahib (Punjab), Namakkal & Tiruchirappalli (Tamil Nadu), and Diu & Gir Somnath (Union Territory of Daman and Diu/Gujarat). Its tasks include setting up, expanding, and maintaining the city’s or municipality’s natural gas distribution system. Drivers of private cars, buses, light and big freight vehicles, and public transportation vehicles like taxis and auto rickshaws are among the CNG customers.

At 12:29 pm, the shares of IRM Energy were trading 8.60% higher at Rs 288.45 on NSE.

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