FASTag new rules updates: New regulations come into force from today - Check penalties, all toll charges & more

The SME public issues of LK Mehta Polymers has received healthy demand from investors, oversubscribing 31.65 times on February 17, the final day of bidding, while the demand for Shanmuga Hospital's initial share sale has been much lower, at 2.17 times. Both public issues had opened for subscription on February 13. (Read More)

FASTag users may face additional charges if their toll transactions are processed more than 15 minutes after passing the toll reader. As per the updated National Electronic Toll Collection (NETC) guidelines, if a transaction is delayed and the user's FASTag account lacks sufficient balance, the toll operator will be held accountable. However, if the amount is deducted, users can dispute the charge, but only after completing a mandatory 15-day cooling period. (Read More)

India's merchandise trade deficit widened to $22.99 billion in January 2025 as compared to $21.94 billion in December as exports fell. On a year-on-year basis, the trade deficit in goods was again wider in January versus the revised figure of $16.56 billion in the same month of the last fiscal year. (Read More)

• If your FASTag is blacklisted, follow these steps to reactivate it:
• Recharge your FASTag account with the required minimum balance.
• Verify the updated status and ensure the payment is processed.
• Allow a few minutes for the system to recognize the recharge and activate the tag.
• With these new regulations in place, maintaining an active and sufficiently funded FASTag is more important than ever. Plan ahead to avoid
• Unnecessary penalties and toll payment hassles while traveling.

• Govt source: During Trump 1.0 we had discussed a mini trade deal with US, the understanding was it will be on MFN principle. So we are not using the term mini trade deal this time around, we are going with bilateral trade deal. It is a much more fair agreement which we will take forward
• Govt source: US's reciprocal Act has not yet been elaborated. We will take a call once that Act comes into force
• Govt source: The Bilateral Trade deal has nothing to do with US's reciprocal tariffs
• Govt source: When there are MFN tariffs applicable to all countries and certain tariffs imposed on certain tariffs, it could also be gain for us if tariffs are higher on one country then Indian exports can gain
• Govt source: Commerce ministry plans to hold stakeholder consultation & cost benefit analysis on tariffs on specific nations such as China, Mexico, Canada on areas where Indian exports can gain

• Tuhin Kanta Pandey: In real terms, Indian economy remains one of the fastest growing economy and finance ministry has taken a lot of measures. Global headwinds we have faced in past, and we will continue to face, but India is capable to handle it.
• Nagaraju: This is first time all PSU general insurance companies have made profit. They are doing well and employees morale is not down.
• Nagaraju: We are not going to comment on New India Co-operative bank. Increasing insurance on deposit under consideration.
• Ajay Seth: On co-operative bank: It is not right to take action against the sector due to irregularities in one single bank.

• FM Sitharaman: By widening definition for MSME, we are giving them the opportunity to grow
• FM: We have given substantial money for development activities of MSME to SIDBI
• FM: SIDBI will now be opening branches in every MSME cluster
• FM: More favourable rates have been brought in new regime of Income tax
• FM: Indian economy today has an environment today that investment is yielding good returns and book profits.

• Ensure your FASTag is active before traveling by checking its status on the FASTag Customer Portal.
• To verify whether your tag is active, inactive, or blocked, visit the official NPCI portal: https://www.npci.org.in/what-we-do/netc-fastag/check-your-netc-fastag-status.
• Additionally, your issuer will notify you via SMS if your balance is low or negative.

• A FASTag that is blacklisted or hotlisted means it has been deactivated for reasons such as:
• Insufficient balance
• Expired KYC documents
• Unresolved legal issues related to the vehicle
• Until the issue is resolved, a blacklisted FASTag cannot be used at toll plazas.

We have shaken up the income tax act. The Old income tax act will be replaced by the new Act. The Select committee with 31 Lok Sabha members will look into its details. Over 60,000 inputs from people have come on the Income Tax Act. Select committee will invite stakeholders for comments on the new Act.

• Union Finance Minister Nirmala Sitharaman is addressing media in Mumbai.
• FM: Rs 16 lakh cr is the combined capex of govt and PSUs, the government's focus has not shifted from capex to consumption expenditure.
• FM: There is no shifted emphasis from capital asset building to consumption
• FM: We have kept the steps from reforms going to remove stress on businesses to do compliance
• FM: I expect states would come forward to remove stressful compliance related regulations for businesses towards ease of doing business
• FM: The reform momentum shall continue
• FM: Nuclear energy will be brought to different parts of country through small modular reactors to give energy security
• FM: MSME guaranteed loans will also be given to those in areas of critical minerals
• FM: Looking at further reforms to opening sectors, bring in more FDI in insurance. Insurance sector needs to broaden and deepen, need more players. Guardrails have been put so that citizens' money towards premium payment for insurance is kept within the country. Investments, and profits will have to be used here. Guardrails are being made so that our interests are not affected.

The most notable change is that if a FASTag is blacklisted, last-minute recharges may not be processed. Transactions will now be declined if the FASTag remains in an exceptional state (blacklisted or low balance) for over 60 minutes before reaching the toll and continues in that state for an additional 10 minutes. Previously, users could recharge their FASTag at the toll booth and still proceed. With the new rules in place, it is essential to check FASTag status well in advance. To avoid travel disruptions, users should maintain a sufficient balance and ensure their KYC details are up to date.

The National Payments Corporation of India (NPCI) and the Ministry of Road Transport and Highways have introduced key updates to the FASTag system, effective from today, February 17, 2025. The most notable change is that if a FASTag is blacklisted, recharges made at the last minute may not be processed.

• To check the allotment status on KFin Technologies Limited, follow these steps:
• Visit the KFin Technologies Limited web portal.
• Choose the IPO from the drop-down menu (the name will appear only if the allotment is finalized).
• Select one of the three options: Application number, Demat Account number, or PAN ID.
• In the "Application Type" section, choose between ASBA and non-ASBA.
• Enter the relevant details based on your selection in Step 3.
• Complete the captcha for security purposes.
• Click "Submit" to view your allotment status.

• Investors who bid for the Hexaware Technologies IPO can check the allotment status on the Bombay Stock Exchange (BSE) website by following these steps:
• Go to the BSE website: https://www.bseindia.com/investors/appli_check.aspx.
• Select "Equity" under the issue type.
• From the drop-down menu under "Issue Name," choose Hexaware Technologies Limited.
• Enter your application number.
• Provide your PAN card ID.
• Tick the box for "I am not a Robot" and click the "Search" button

Founded in 1992 and headquartered in Navi Mumbai, Hexaware Technologies specialises in global digital and technology services powered by artificial intelligence. The company leverages advanced technology to deliver innovative solutions, enabling customers to adapt, innovate, and thrive in an AI-driven landscape.

The Hexaware Technologies IPO was open for subscription from February 12 to February 14, with a price band of Rs 674 to 708 per share. By the close of bidding, the issue was subscribed 2.66 times. The share allotment is expected to be finalised today, February 17, with the stock set to debut on the Indian bourses on February 19.

Ajax Engineering shares had a weak debut on the stock markets on February 17, opening at Rs 593 per share on the BSE, nearly 6% below their IPO price of Rs 629. The performance was even more disappointing on the NSE, where the shares listed at Rs 576 apiece, reflecting an 8.4% discount to the IPO price. (Read More)

For the six-month period ending September 2024, profit surged by 21.8% to Rs 101 crore, while revenue saw a 12.4% increase, reaching Rs 770 crore compared to the same period in the previous fiscal year.

Ajax Engineering Share Price Live: Watch Ajax Engineering listing ceremony live

Ajax Engineering received moderate investor interest and is expected to list with a small premium, said Palak Devadiga, Research Analyst at StoxBox. "We advise investors who have been allotted shares to maintain their positions, considering this outlook," she stated.

According to Investorgain.com, the GMP for the Ajax Engineering IPO indicates a discounted price. With the cap price for the IPO set at Rs 629, the estimated listing price based on the current GMP is Rs 626.

The price of 24-carat gold fell by Rs 10 in early trade on Monday, with ten grams of the metal trading at Rs 86,060, according to the GoodReturns website. Silver also experienced a drop, with its price declining by Rs 100, bringing the cost of one kilogram to Rs 1,00,400. Meanwhile, 22-carat gold saw a reduction of Rs 10, with ten grams priced at Rs 78,890. The price of ten grams of 24-carat gold in Mumbai was consistent with that in Kolkata, Chennai, and Hyderabad, all at Rs 86,060. In Delhi, however, the price of ten grams of 24-carat gold stood slightly higher at Rs 86,210.

The Ajax Engineering IPO opened for bidding on February 10 and closed on February 12. The allotment was finalized on February 13, and the shares are set to be listed today, February 17. Ajax Engineering's shares will be listed on both BSE and NSE.

"Despite market challenges, Ajax Engineering has successfully attracted investors across all categories. Considering the current market trends, we expect a flat listing at the issue price," said Prashanth Tapse, Senior VP Research – Research Analyst at Mehta Equities Ltd. Tapse sees the Ajax Engineering IPO as a chance for investors to invest in a leading player in the self-loading concrete mixer (SLCM) segment, holding a 77% market share. "On valuation, the company is targeting a market cap of Rs 7,196 crore, with a PE ratio of around 29x. In comparison to its industry, the company's valuation appears reasonable. Given Ajax’s dominant position in SLCM and the growing infrastructure development in India, along with the rising demand for automated concrete solutions, the company is well-positioned to capitalize on India's booming construction and infrastructure sector," Tapse explained. "Considering all these factors, we recommend investors to 'HOLD' the Ajax Engineering Ltd IPO for long-term investment," he added.

The Ajax Engineering IPO was subscribed 6.06 times on the last day of subscription. The retail category saw a subscription of 1.94 times, the QIB category was subscribed 13.04 times, and the NII category saw a 6.46 times subscription.

• Market leader in the large and fast-growing SLCM market
• Leading provider of concrete equipment with a full range of products, services, and solutions across the concrete application value chain
• Strong in-house design, development, and engineering expertise
• Technology-driven assembly and manufacturing processes supported by a reliable supplier network
• Extensive dealer network with a broad distribution model
• Diversified customer base and long-term relationships in the concrete equipment market
• Experienced management team backed by qualified and skilled personnel

Ajax Engineering operates four manufacturing facilities in Karnataka, located in Obadenahalli, Gowribidanur, and Bashettihalli, each specializing in different product categories, with a particular focus on the Obadenahalli facility. The company has built a robust distribution network, comprising 51 dealerships across 23 states in India, providing 114 customer touchpoints, including 51 headquarters and 63 branches, 34 of which also serve as service centers. Expanding its global footprint, Ajax Engineering has established 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa. As of September 30, 2024, the company has supplied concrete equipment and spare parts to over 15,700 customers.

Founded in July 1992, Ajax Engineering Limited is a leading manufacturer of concrete equipment, offering a comprehensive range of products and services across the value chain. As of September 30, 2024, the company has developed 141 concrete equipment variants and has sold over 29,800 units in India over the past decade. The company’s design, engineering, and development team consists of 79 full-time employees, representing approximately 15.96% of its total workforce.

The company's promoters include Krishnaswamy Vijay, Jacob Jiten John, Kalyani Vijay, Madhuri Vijay, Prashanth Vijay, Rachel Rekha Hansen, Savitha Christeena Alexander, Sean Alexander, Green Haven Trust, Ohana Trust, Jacob Hansen Family Trust, and The Johns Loaves Trust.

The book-running lead managers for the Ajax Engineering IPO include ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. Link Intime India Private Ltd serves as the registrar for the issue.

The price band for the Ajax Engineering IPO is set at Rs 629 per share, with a minimum lot size of 23 shares per application. Retail investors need to invest at least Rs 13,777, but to mitigate the risk of oversubscription, bidding at the cutoff price—approximately Rs 14,467—is recommended. For small non-institutional investors (sNII), the minimum investment is 14 lots (322 shares), totaling Rs 2,02,538, while for big non-institutional investors (bNII), it is 70 lots (1,610 shares), amounting to Rs 10,12,690.

Good morning and welcome to our business news live blog. First up, we are tracking latest from the world of IPOs. Ajax Engineering's IPO is set to launch on D-Street today. The public offering consists solely of an offer-for-sale (OFS) of 2.01 crore shares, amounting to Rs 1,269 crore at the upper price range, sold by the promoters and an investor shareholder. As the listing nears at 10:00 am, here are the latest updates on Ajax Engineering's IPO.