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Winds of rumour have it that promoters Suzlon Energy plans to sell stake in the company in open market via block deal window. Suzlon Energy’s promoters Tanti Family & Trust plan to sell 20 crore shares and the floor price has been fixed as f ₹64.75
HDFC Bank has denied Lilavati Trust’s allegation that the bank’s MD and CEO Sashidhar Jagdishan was involved in a series of financial frauds. The allegation levelled by Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), its trustees and officials against the bank’s MD and CEO are baseless and malicious, an HDFC Bank’s spokesperson said. The Trust, which oversees Lilavati Hospital in Mumbai, had called upon the board of HDFC Bank, the RBI, SEBI and the Finance Ministry to suspend Jagdishan from all executive and board roles with immediate effect. An FIR…was registered under orders of the Bombay Magistrate Court after a seized cash diary revealed Rs 14.42 crore misappropriated by trustees, of which Rs 2.05 crore was received by Jagdishan, establishing his direct involvement,” the Trust had alleged.
In a major relief for Infosys, the Director General of GST Intelligence has closed pre-show cause notice proceedings against the company for financial years 2018-19 to 2021-22 involving a staggering Rs 32,403 crore in GST dues. The latest move effectively ends nearly a year-long GST saga for India’s second-largest IT services firm. Mid-last year, the goods and services tax (GST) authorities had slapped Rs 32,403 crore notice on Infosys for services availed by the company from its overseas branches for five years starting 2017. Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to develop solutions for global Banking, Financial Services, and Insurance (BFSI) clients.
Tata Steel is expecting to start the construction of its low-carbon EAF-based steel making project in the UK from July 2025 and commence operations by 2027, top company officials said. The company has received necessary approvals for its $ 1.5 billion project at Port Talbot, Tata Steel CEO & MD T V Narendran, and ED & CFO Koushik Chatterjee said in the company’s annual report for FY2024-25.
Reliance Infrastructure is looking to turbocharge its defence vertical with a focus on aircraft upgrade programmes, eyeing an opportunity of Rs 5,000 crore over the next 7-10 years, a PTI report quoting sources said. This strategic foray positions Reliance Infrastructure as India’s first private sector company to independently execute a comprehensive aircraft upgrade programme without being the original manufacturer — a domain traditionally dominated by public sector units and OEMs.
According to Reuters report, Aditya Birla Group’s Indian paints venture Birla Opus has filed an antitrust complaint against market leader Asian Paints to the Competition Commission of India for allegedly abusing its market position, three sources said, a case that could lead to a stand off between the two industry rivals. Asian Paints is India’s biggest player with a 52% market share, but it has lost some of its dominance after Birla Opus launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.
Life Insurance Corporation of India (LIC) said Sat Pal Bhanoo has given additional charge of MD and CEO of the insurance company for three months following approval of the Department of Financial Services. Bhanoo is the seniormost among the four LIC MDs. The vacancy was created by the completion of the term of Siddhartha Mohanty as CEO and MD of LIC on June 7, 2025. Mohanty had joined the insurance giant as an apprentice officer in 1985.
Go Fashion (India) Ltd, which owns the popular women’s wear brand ‘Go Colors’, under its vision to expand its footprint globally, has inaugurated its first international store in Dubai, the company said on Saturday. The city-headquartered Go Fashion (India) under the ‘Go Colors’ brand has a presence of over 750 stores across the country. The first international store in Dubai has been established in association with retail conglomerate Apparel Group.
Bharat Electronics (BEL) has signed a memorandum of understanding (MoU) with Tata Electronics for the development of indigenous electronics and semiconductor solutions in line with the Government of India’s vision for self-reliance. This MoU marks a significant step forward for BEL and Tata Electronics in jointly exploring end-to-end solutions to meet domestic requirements.
DEE Development Engineers Ltd is planning to diversify into hydrogen production as it expects good business opportunities in the sector, said a PTI report. Its Chairman and Managing Director (CMD) Krishan Lalit Bansal said, “We have very recently put our foot in the production of some small gas/chemical plants. We have acquired a 70 per cent stake in a company called Maldives Design Ltd, which is specialised in the manufacturing of nitrogen and oxygen plants, hydrogen purification plants, and ammonia crackers These tplant hydrogen purification and ammonia cracker — are going to make significant contributions in the hydrogen sector,” he told PTI.
JK Cement has completed the acquisition of a majority 60 per cent stake in Jammu & Kashmir-based Saifco Cements for Rs 150 crore, formalising a joint venture with the company. This makes the JK Organisation group firm as the first major cement manufacturer to set up manufacturing operations in Srinagar, signalling a step towards regional economic empowerment, according to a joint statement.
PNC Infratech Ltd, on Saturday (June 7) announced the receipt of a Letter of Acceptance (LoA) from the Public Works Department (PWD), Rajasthan, for the construction of a flyover project in Bharatpur city. The project is for construction of a flyover from Heeradas Chouraha to Kumher Gate Chouraha under an Engineering, Procurement and Construction (EPC) contract. The contract value is ₹239.94 crore, and the project has to be completed within 24 months.
IndiGrid will acquire ReNew Solar Aayan, a 300 MW (AC) solar project, and Koppal Narendra Transmission in two separate transactions for about Rs 2,108 crore. Inclusive of the adjustments, the enterprise value will not exceed Rs 2,175 crore, a statement said. IndiGrid announced the execution of definitive agreements to acquire one solar and one transmission asset, aggregating to an enterprise value of approximately Rs 2,108 crore, excluding any net working capital and cash adjustments, it added.
SBI MF, Morgan Stanley and Goldman Sachs, among others, on Friday cumulatively bought a 1.8 per cent stake in Bajaj Finserv for Rs 5,506 crore from promoter entities. Besides, JP Morgan India, Citigroup Global, Societe Generale, SBI Life, BofA Securities and Barclays Merchant Bank (Singapore) were also among the buyers, as per block deal data on the NSE. These entities bought 2.86 crore shares or 1.8 per cent stake in Bajaj Finserv at an average price of Rs 1,925.20 apiece, taking the combined transaction value to Rs 5,506.07 crore, as per the data. Meanwhile, Bajaj Finserv’s promoters entities Bajaj Holdings and Investment and Jamnalal Sons offloaded an equal number of shares at the same price.
UPL has informed the exchanges that its associate company, Serra Bonita, plans to sell its entire assets for $125 million. Holding a 33% stake in Serra Bonita this sale will provide UPL with a substantial financial return.
Multi Commodity Exchange of India Ltd (MCX) has received approval from markets regulator SEBI to launch electricity derivatives. The electricity derivatives contracts to be introduced by MCX will help power distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market, the commodity bourse said in a statement.
Nukleus Office Solutions has executed a Letter of Intent (LOI) with Prestige Estates Projects for leasing a new co-working centre located at Bengaluru, Karnataka. The gross leasable area is 20,246 square feet with premium commercial office space. The lease term will be 5 years from lease commencement date July 04, 2025. The commencement of rent is from November 04, 2025 (post 120 day rent free period).
RITES has signed a memorandum of understanding (MoU) with Hindustan Copper (HCL), a CPSE under the Ministry of Mines, to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas. This strategic partnership aims to build an integrated, self-reliant mineral value chain that supports India’s critical mineral security, fosters sustainable growth, and strengthens the nation’s economic resilience.
GHV Infra Projects , earlier Sindu Valley Technologies Ltd, has received a work order worth ₹546 crore (excluding GST) from GHV (India) Pvt Ltd for strengthening and improving roads in Mumbai. The project, classified as domestic road construction work, is scheduled for completion within 24 months.
Published on June 9, 2025
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