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Mahindra & Mahindra Ltd has entered into an agreement to acquire 58.96% stake in SML Isuzu Ltd at Rs 650 per share, which is an outlay of Rs 555 crore. In addition, M&M will make an open offer in accordance with SEBI Takeover Regulations. The proposed acquisition is a step towards establishing a strong presence in the >3.5T CV segment, where M&M has a 3 per cent market share today, as compared to a 52 per cent market share in the <3.5T LCV segment. M&M’s Trucks and Buses Division has made meaningful progress over the past few years. This acquisition will double the market share to 6 per cent, with a plan to increase this to 10 – 12 per cent by FY31 and 20%+ by FY36.
Hindustan Zinc Ltd (HZL) plans to foray into potash mining and is eyeing a block in Rajasthan which has a fair chance of having lithium reserves also, a top official of the company said. India heavily relies on potash imports and has been exploring ways to reduce its dependence on imports. India’s potash imports primarily come from countries like Russia, Canada, Belarus, and Israel. The company is also planning to expand beyond base metals — zinc and lead — and precious metal silver as well as all critical minerals which are of strategic interest to the company, a PTI report quoting Hindustan Zinc CEO Arun Misra, said.
Kicking off the process of transfer of ownership of promoter shares in TVS Holdings, the promoter firm of TVS Motor Company, Sudarshan Venu has become a ‘significant beneficial owner’, according to regulatory filing by the company. Sudarshan Venu, Managing Director of TVS Holdings, is the son of Venu Srinivasan who is the Chairman and Non-Executive Director of the core investment company — formerly known as Sundaram-Clayton Ltd. As per an RoC filing by TVS Holdings on April 23, 2025, both Venu Srinivasan and Sudarshan Venu are now ‘persons acting in concert and significant beneficial owners’ after an inter-se transfer between the promoters of the firm. TVS Holdings owns 50.26 per cent in two and three-wheeler maker TVS Motor Company. Sudarshan Venu already leads TVS Motor Company as its Managing Director. The latest development makes clearer the alignment of ownership and management of businesses between the children of Venu Srinvasan and Mallika Srinivasan and a continuation of a smooth execution of the succession planning initiated earlier.
CuraTeQ Biologics, a wholly owned step-down subsidiary of Aurobindo Pharma Limited, has announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending marketing authorisation of Dazublys® (150 mg powder for concentrate for solution for infusion), its trastuzumab biosimilar, for the treatment of HER2-positive metastatic and early breast cancers.
Power trading solutions provider PTC India on Saturday announced appointment of Manoj Kumar Jhawar as Chairman & Managing Director of the company. Manoj Kumar Jhawar joined PTC Board as Whole time Director designated as Director (Commercial & Operations) on January 18, 2024, a regulatory filing said.
IRM Energy Ltd has signed a tripartite agreement with IAV Biogas Pvt Ltd and GAIL (India) Ltd for the off-take of compressed bio-gas (CBG) facility in Namakkal and Tiruchirappalli districts in Tamil Nadu The agreement signed between the three entities on April 17, under the CBG-CGD (City Gas Distribution) Synchronisation scheme, marks a significant milestone in advancing India’s clean energy initiative by integrating Compressed Bio-Gas into the city gas distribution network.
Zydus Lifesciences on Saturday said the US health regulator has issued six observations after inspecting its Gujarat-based API manufacturing unit. “We wish to inform that the US Food and Drug Administration (USFDA) conducted a surveillance inspection at the group’s API (active pharmaceutical ingredient) unit located at Dabhasa in Gujarat,” the drug firm said in a regulatory filing. The inspection was conducted from April 21-25, 2025.
Biocon Biologics Ltd (BBL), a fully integrated global biosimilars company and subsidiary of Biocon Ltd has announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has issued positive opinions recommending the approval of its denosumab biosimilars candidates for distinct therapeutic indications for bone health: Vevzuo and Denosumab BBL (brand name is currently under approval).
Billionaire Mukesh Ambani’s youngest son, Anant has been appointed as Executive Director of Reliance Industries Ltd for a five- year term effective May 1, the company said. Ambani had in August 2023 inducted his three children – twins Isha and Akash and Anant – on the board of oil-to-telecom conglomerate as non-executive directors, in preparation of an eventual succession plan.Indian Renewable Energy Development Agency (IREDA), one of two public sector lenders who had loaned money to scam-hit Gensol Engineering for buying electric vehicles, on Friday said the promoters of the firm breached the contract by diluting shareholding without lenders’ approval.
IREDA said it has filed a complaint with the Economic Offences Wing (EoW) for the contract breach on April 24. “Following recent developments concerning Gensol Engineering Ltd and its promoters and associate companies, IREDA has initiated an internal review in accordance with RBI guidelines and the company’s due diligence protocols,” IREDA said in a stock exchange filing.
Alembic Pharmaceuticals has commissioned a new facility in Pithampur Madhya Pradesh for manufacturing formulations. The facility has been set up with an investment of around Rs.205 crore, which the company raised through internal accruals/borrowings. Business expansion and opportunity to move third party products to in-house are rationale behind establishing the facility. On the existing capacity and utilisation the company, in a filing on Saturday said it has multiple manufacturing facilities for formulations and their capacities were being optimally utilised.
Harsha Engineers has signed a major LOI for recurring supply of stamping products to a multinational company manufacturing AC compressors. The agreement, effective April 26, 2025, is estimated at ₹18 crores per annum for an initial period of five years. The deal is with a domestic entity and does not involve any related party transactions, according to the company’s disclosure.
Apollo Tyres on Friday said it will discontinue tyre production at the Enschede-based plant in the Netherlands from next year. The board of Apollo Tyres NL BV has submitted a Request for Advice to the Works Council on the intended decision to discontinue the tyre production and production-related activities at the plant in Enschede, the Netherlands by the summer of 2026 All staff have been informed accordingly in a town hall meeting.
NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited, has signed a Memorandum of Understanding (MoU) with Honeywell UOP India Pvt Ltd to explore the production of Sustainable Aviation Fuel (SAF), marking a major step toward decarbonizing India’s aviation sector. Under the agreement, both parties will jointly conduct a feasibility study for SAF production using Honeywell’s proprietary eFining™ technology. The study will focus on utilizing captured carbon dioxide emissions from NTPC’s power plants and green hydrogen produced as part of NTPC’s ongoing renewable initiatives.
The board of NRB Bearings has approved capital investment of ₹200 crore for upgradation and enhancement of capacity at R & D Centre, Jalna, Chikalthana, Waluj and Hyderabad plant and appointment of Kishor Harish Talreja as the Company Secretary and Compliance Officer of the Company.
JSW Steel Coated Products (JSWSCPL), subsidiary of JSW Steel, has submitted a resolution plan in the corporate insolvency resolution process of Colour Roof India on July 1, 2024. The Committee of Creditors has approved the resolution plan submitted by JSWSCPL and has declared it as successful resolution applicant.
GAIL India has signed a Memorandum of Understanding (MoU) with Container Corporation of India (CONCOR) to explore the adoption of liquefied natural gas (LNG) as an alternative fuel in the logistics sector.
Results Calendar: Aditya Birla Sun Life AMC, Adani Green Energy, Adani Total Gas, Adani Wilmar, UltraTech Cement, BEML, Central Bank of India, CSB Bank, Greenply, Hatsun Agro, Hexaware, IDBI Bank, RPG Lifesciences, Firstsource Solutions, IRFC, Oberoi Realty, PNB Housing Finance, TVS Motor Company, TVS Holdings, Castrol India, Fino Payments Bank,Go Digit General Insurance, Greenply Industries, IIFL Capital Services, Indegene, KFin Technologies, KPIT Technologies, Nippon Life India Asset Management, Sanghi Industries, Shree Digvijay Cement, Vimta Labs and UCO Bank
Published on April 28, 2025
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