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H.G. Infra gains after investing Rs 49 cr in its subsidiary

H.G. Infra gains after investing Rs 49 cr in its subsidiary

by | Mar 24, 2026 | Share Market


H.G. Infra Engineering rose 1.20% to Rs 475 after the company announced an equity investment of Rs 48.52 crore in its wholly owned subsidiary, H.G. Banaskantha Bess, through a rights issue.

The company acquired 6,40,200 equity shares at an issue price of Rs 758 per share, including a face value of Rs 10, aggregating to a total investment of Rs 48.52 crore. The transaction was completed on 23 March 2026, on a cash consideration basis.

H.G. Banaskantha Bess, incorporated in 2024, has an authorized share capital of Rs 79.02 lakh and a paid-up capital of Rs 15 lakh. The investment is aimed at supporting business expansion in the energy storage segment.

 

As the subsidiary is wholly owned, the transaction qualifies as a related-party transaction. However, the company clarified that apart from its shareholding, the promoter group and associated entities have no additional interest in the subsidiary.

HGINFRA is an infrastructure-development company. The company specialises in executing end-to-end Engineering, Procurement, and Construction (EPC) services and Hybrid Annuity Model (HAM) projects across transport infrastructure, renewable energy, and Battery Energy Storage Systems (BESS) including transmission.

On a consolidated basis, the company’s net profit fell 18.1% to Rs 94.28 crore on a 12.4% rise in revenue from operations to Rs 1,421.16 crore in Q3 FY26 over Q3 FY25.

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H.G. Infra gains after investing Rs 49 cr in its subsidiary

Godawari Power jumps after announcing Rs 7,000 crore steel plant expansion

by | Mar 24, 2026 | Share Market


Godawari Power & Ispat surged 4.79% to Rs 263.80 after the company’s board approved setting up a 1 million tonne per annum (MTPA) integrated steel plant in Chhattisgarh.

The proposed project, to be developed at Raipur, will involve an investment of approximately Rs 7,000 crore. The company plans to fund the capex through a mix of debt and internal accruals in a 1:1 ratio.

The new facility will manufacture iron and steel finished products, including structural steel and wire rods, aimed at strengthening the companys presence in the steel sector.

The plant is expected to be completed over a period of three-and-a-half years. The company said the expansion is driven by robust and growing demand for structural steel in India.

 

The firm currently operates with an existing capacity of 0.5 MTPA at its Siltara facility, with utilisation levels above 95%.

Godawari Power and Ispat is engaged in the business of mining of captive iron ore and manufacturing of the iron ore pellets, sponge iron, steel billets, wire rods, hb wires, ferro alloys & galvanized steel structures with generation of both conventional and non-conventional power for captive consumption.

On a consolidated basis, the company’s net profit declined 1.06% to Rs 143.25 crore while net sales declined 12.19% to Rs 1139.45 crore in Q3 December 2025 over Q3 December 2024.

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Central Mine Planning IPO Day 3 update: Subscription lags at 60%, GMP flat

Central Mine Planning IPO Day 3 update: Subscription lags at 60%, GMP flat

by | Mar 24, 2026 | Share Market



Central Mine Planning IPO: Central Mine Planning & Design Institute (CMPDI), a subsidiary of Coal India, has received a lacklustre response from investors for its initial public offering (IPO), which opened for public subscription on Friday, March 20, 2026. According to data from the National Stock Exchange (NSE), the public issue was subscribed to only 60 per cent as of 01:50 PM on Tuesday, March 24. 

 


The three-day subscription window for the IPO closes today. So far, the issue has received bids for 46.91 million shares against 79.78 million shares on offer. Demand has been strongest in the Qualified Institutional Buyers (QIBs) segment, which has been subscribed to around 1.82 times. In contrast, non-institutional investors (NIIs) have subscribed to 19 per cent of their reserved quota. The portion reserved for retail investors was booked only 24 per cent.  

 


Central Mine Planning IPO GMP


However, the muted investor sentiment was also reflected in the grey market. According to sources tracking unofficial market activity, CMPDI’s unlisted shares were trading almost flat at ₹172.75 per share, commanding a grey market premium of 0.44 per cent, over the upper end of the IPO price band of ₹163 to ₹172.


Central Mine Planning IPO details


The IPO comprises a fresh issue of 107.1 million equity shares worth up to ₹1,842.12 crore. The issue is available in a lot size of 80 shares. At the upper end of the price band, retail investors need to invest a minimum of ₹13,760 for one lot, while a maximum application of 14 lots (1,120 shares) requires ₹1,92,640.

 


Kfin Technologies is the registrar. IDBI Capital Markets & Securities and SBI Capital Markets are the book-running lead managers for the issue.


Central Mine Planning IPO allotment date, listing date


With the issue closing today, the basis of allotment is expected to be finalised on Wednesday, March 25, 2026. Shares are likely to be credited to successful applicants’ demat accounts by Friday, March 27, 2026. The stock is scheduled to list on the NSE and BSE tentatively on Monday, March 30, 2026.


Central Mine Planning IPO objectives


According to the Red Herring Prospectus (RHP), the company will not receive any proceeds from the funds raised through the issue, as the entire offer comprises a sale of shares by promoter Coal India. 



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H.G. Infra gains after investing Rs 49 cr in its subsidiary

TBO Tek jumps after brokerage initiates coverage with 'Buy' rating

by | Mar 24, 2026 | Share Market


TBO Tek rose 5.17% to Rs 1,071.40 after a domestic brokerage initiated coverage on the stock with a ‘Buy’ rating and a target price of Rs 1,360.

The brokerage said the company offers a structural play in the global B2B outbound travel market. It enables offline travel agents and enterprise buyers to access international airlines, hotels and ancillary services across geographies.

It highlighted that the global business-to-agent (B2A) travel distribution ecosystem comprises nearly 2 million agents, including freelancers, home-based consultants, small agencies and large professional firms. TBO Teks focus on this fragmented base provides a large total addressable market and significant scope for penetration, wallet share gains and geographic expansion.

 

The brokerage expects TBO Tek to deliver revenue, EBITDA and profit CAGR of 35%, 37% and 32%, respectively, over FY25-28, driven by a higher contribution from high take-rate hotel and ancillary segments. Their share in the gross transaction value mix is projected to rise from 59% currently to over 70%.

The brokerage added that contribution from curated verticals, particularly in luxury and premium hotel segments, is likely to support margin expansion and overall profitability.

However, it flagged risks including extreme weather affecting travel destinations, rising travel costs impacting demand, and geopolitical uncertainties influencing travel sentiment and route planning.

Gurgaon-based TBO Tek is a B2B travel technology platform that connects over 159,000 travel buyers with suppliers across more than 100 countries. The company offers a wide range of travel services, supported by proprietary AI/ML technology.

On a consolidated basis, net profit of TBO Tek rose 7.42% to Rs 53.69 crore while net sales rose 85.78% to Rs 784.33 crore in Q3 December 2025 over Q3 December 2024.

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H.G. Infra gains after investing Rs 49 cr in its subsidiary

Government restores full RoDTEP benefits to ease export pressure from West Asia disruptions

by | Mar 24, 2026 | Share Market


Last Updated : Mar 24 2026 | 12:16 PM IST

The Government of India has reinstated the full rates and value caps under the RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme for all eligible exports, effective March 23, 2026, in response to ongoing trade disruptions in West Asia.

Recent geopolitical developments in the region have disrupted maritime logistics, leading to rerouted shipments, longer transit times, and higher freight costs for exporters. To mitigate these challenges, the government has rolled back the earlier 50% restriction on RoDTEP benefits that was introduced on February 23, 2026.

Under the revised decision, exporters will now receive benefits at the same rates that were applicable as of February 22, 2026. The latest notification overrides the earlier notification and its corrigendum issued in February, except for actions already taken under those provisions.

 

This move aims to provide immediate financial relief to exporters dealing with increased costs and uncertainties linked to disruptions in Gulf and West Asia trade routes. It also underscores the governments intent to maintain a stable and supportive export policy framework, helping Indian exporters stay competitive in a volatile global trade environment.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Mar 24 2026 | 12:16 PM IST



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Coal India falls 3% as board approves SECL, Mahanadi Coalfields divestment

Coal India falls 3% as board approves SECL, Mahanadi Coalfields divestment

by | Mar 24, 2026 | Share Market



Coal India share price today: Shares of Coal India, the largest state-owned coal producer in the world, fell nearly 4 per cent on Tuesday, March 24, to hit an intraday low of ₹439 on the NSE. This comes after the company announced that its Board has granted in-principle approval for the partial disinvestment and listing of its two subsidiaries, South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL).

 


Around 11:00 AM, Coal India stock was trading at ₹441, down 3.1 per cent against the previous session’s close of ₹455.25. In comparison, the benchmark NSE Nifty50 was quoting at 22,664.85 levels, up 152 points or 0.68 per cent.

 
 


The stock’s 52-week high was at ₹476, and its 52-week low was at ₹356 on the NSE. Its total market capitalisation stood at ₹2.71 trillion. 

 


On March 25, Coal India’s board have in-principle approval for divestment of up to 25 per cent stake held by the company each in South Eastern Coalfields Ltd (SECL) and Mahanadi Coalfields Ltd (MCL) through ‘offer for sale’.

 


It will also issue equity shares of SECL of up to 10 per cent of the post-issue paid-up equity share capital, in one or more tranches, through an initial public offer (IPO) or other routes in the domestic market, the company informed the exchanges in a filing. 

 


On December 23, 2025, the company gave in-principle approval for the listing of SECL and MCL. 

 


The proposed listing of SECL remains subject to the necessary regulatory approvals and the completion of all required formalities.

 


SECL and MCL are the company’s largest subsidiaries, together accounting for 50 per cent of total coal production and 40 per cent of consolidated profit in FY25.

 


According to ICICI Securities, the proposed listings could unlock significant shareholder value, with the combined market capitalisation of both entities estimated to be more than ₹1 trillion, assuming a 7x PE multiple on FY25 earnings. 

 


“With this, from a long-term perspective, we maintain a positive stance supported by strategic diversification into coal gasification, critical minerals, and renewable energy, robust net-cash-positive B/S and a strong dividend yield of 7 per cent,” the brokerage said.



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