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New Delhi, Jan 17 (PTI) Swan Defence and Heavy Industries (SDHI) on Friday said the trading of its shares on the National Stock Exchange and BSE will resume from January 20.

Swan Defence and Heavy Industries Ltd (formerly Reliance Naval and Engineering Limited or RNEL) is India's largest shipbuilding and heavy fabrication company.

"SDHI, a key private player in commercial & defence shipbuilding, will recommence trading of its shares at BSE/NSE. The shares will be available for trading with effect from January 20, 2025," the company said in a statement.

In January last year, Swan Energy Ltd acquired management control of SDHI and has since embarked on a revival plan for the shipbuilding and heavy fabrication company, it added.

The company recently completed the refit of the Indian Coast Guard's fast patrol vessel Raj Ratan ahead of schedule, underscoring its operational capabilities. It is also preparing to commence shipbuilding operations.

"The resumption of trading in Swan Defence and Heavy Industries shares marks the beginning of a new journey for the shipyard," Vivek Merchant, Director at Swan Defence and Heavy Industries Ltd, said.

"Our vision is to establish the shipyard as a globally renowned centre of innovation and craftsmanship, playing a pivotal role in elevating India's standing amongst the world’s top shipbuilding nations," Merchant added. PTI HG HG MR

New Delhi, Jan 17 (PTI) Eicher Trucks and Buses on Friday launched the Pro X range of electric vehicles in the small commercial vehicles (SCV) segment at the Bharat Mobility Global Expo 2025.

This will help Eicher Trucks and Buses, a unit of VE Commercial Vehicles (VECV), to enter the rapidly growing 2-3.5 tonne segment, which are getting popular for last-mile delivery with scaling of online sales, e-commerce and omni-channel sales.

The Eicher Pro X Range has been co-created with leading logistics players and drivers, and is designed to meet the demands of applications such as e-commerce, FMCG, parcel & courier and cold chain logistics, the company said.

Manufactured at Eicher's Bhopal plant, Pro X comes with the largest cargo loading and energy efficiency enhancing trips per charge, the company claimed.

It is co-developed with leading logistics service providers, the company said, adding it has established strategic partnerships with Charging Point Operators (CPOs) and Charger Original Equipment Manufacturers (OEMs) for making charging infrastructure available nationwide.

"We have leveraged our legacy of market leadership in light and medium duty trucks and our track record of innovation to create this best-in-class range of vehicles. Co-developed with customers to meet their specific needs, the Eicher Pro X charts a new path into the small commercial vehicle segment," VE Commercial Vehicles MD & CEO Vinod Aggarwal said.

Eicher Pro X has driver-centric features as ergonomically designed, air-conditioned cabins, lie-flat seats along with advanced safety systems such as Driver State Monitoring.

The Eicher Pro X was assembled on an all-women assembly line.

"This Eicher Pro X series of small trucks is tailored for segment-specific requirements, come fully connected with real-time fleet management & uptime support solutions, for addressing unmet needs of the category," said VECV Chief Commercial Officer SS Gill.

VECV is a joint venture between the Volvo Group and Eicher Motors, which has been in operation for 15 years, since August 2008.

It produces and sells the complete range of Eicher branded trucks and buses in 40 countries, Volvo Buses India, exclusive distribution of Volvo Trucks in India, engine manufacturing and exports for Volvo Group, Eicher's non-automotive engines and component business. PTI KRH DRR

New Delhi, Jan 17 (PTI) To promote ease of doing business, markets regulator Sebi on Friday provided relaxation in the timeline for review of ESG rating following the publication of Business Responsibility and Sustainability Reporting (BRSR).

ESG Rating Providers (ERPs) will carry out a review of the ESG ratings upon the occurrence of or announcement/ news of such material developments immediately, but not later than 10 days of occurrence of the said event.

However, review of the ESG rating following the publication of BRSR by the rated entity will be carried out immediately, but not later than 45 days after the publication of the BRSR, Sebi said in its circular.

This came after ERPs made a representation to Sebi highlighting the operational challenges faced in undertaking review of ESG ratings for a large pool of listed companies following publication of BRSR by such companies, within the specified timeline of 10 days.

ERPs have made a representation to Sebi, highlighting the operational challenges faced in undertaking review of ESG ratings for a large pool of listed companies pursuant to publication of BRSR by such companies, within the specified timeline of 10 days.

The framework will be applicable with immediate effect.

Earlier in December, Sebi decided to defer the ESG disclosure deadline for value chain partners of listed companies by one year until FY26, giving more time to them to comply with the BRSR requirements.

Until then, environmental, social and governance (ESG) reporting will remain voluntary instead of the current "comply-and-explain" approach. PTI SP MR

New Delhi, Jan 17 (PTI) To bring more transparency in disclosures made by AMCs and aid better decision-making by investors, Sebi on Friday directed mutual funds to disclose the information ratio (IR) of a scheme along with performance disclosure.

Further, disclosure of IR, a financial metric to measure the Risk-adjusted Return (RAR) of a scheme portfolio, will be applicable only for equity-oriented schemes.

"Considering the significance of volatility of performance in determining the suitability of MF schemes, the information ratio is an established financial ratio to measure the RAR of any scheme portfolio.

"It is often used as a measure of a portfolio manager's level of skill and ability to generate excess returns, relative to a benchmark and also attempts to identify the consistency of the performance by incorporating standard deviation/risk factor into the calculation," Sebi said.

In a circular, Sebi has asked mutual funds to disclose the information ratio of a scheme portfolio on their website, along with performance disclosure, on a daily basis.

Industry body Amfi will have to ensure that such disclosure will be available on its website in a comparable, downloadable (spreadsheet) and machine-readable format.

To bring uniformity across different MFs, Sebi also came out with a methodology for the calculation of IR for different categories of mutual fund schemes.

The provisions will come into force with effect within three months from the issuance of this circular. PTI SP SP BAL

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New Delhi, Jan 17 (PTI) The units of Capital Infra Trust, an infrastructure investment trust (InvIT), made a flat market debut on Friday, listing at par with the issue price of Rs 99.

On the BSE and NSE, the units got listed at Rs 99.

The units ended at Rs 99.01, a marginal gain of 0.01 per cent on the BSE. Intra-day, it hit a high of Rs 99.49 and a low of Rs 98.57.

On the NSE, the company's units ended at Rs 99.02.

The company's market valuation stood at Rs 2,726.74 crore.

The Initial Public Offer (IPO) of Capital Infra Trust received 2.80 times subscription on the final day of bidding on January 9.

The issue had a price band of Rs 99-100 per unit.

The company's IPO had a combination of a fresh issue of units aggregating up to Rs 1,077 crore and an Offer For Sale (OFS) of units valued up to Rs 501 crore by the sponsor selling unitholder Gawar Construction Ltd.

The public issue of Capital Infra Trust (formerly National Infrastructure Trust) became the first InvIT IPO of 2025.

According to its prospectus, the proceeds from the fresh issue will be used to provide loans to the project special purpose vehicles (SPVs) to clear external borrowings.

The funds will also be used to give loans to project SPVs for debt repayment of unsecured loans from the sponsor.

The sponsor, Gawar Construction, is engaged in the construction of road and highway projects across 19 states in India for various government/semi-government bodies and statutory authorities, including the NHAI, Ministry of Road Transport and Highway, Mumbai Metropolitan Regional Development Authority, and Central Public Works Department.

Established in September 2023, Capital Infra Trust was set up to carry out activities as an InvIT and make investments as per Sebi's InvIT norms. PTI SUM SHW