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The board of Jaiprakash Associates has approved budgeted cash outflow of Rs 936.27 crore for the current quarter to ensure that the company remains as a going concern. JP Associates, which is facing insolvency proceedings, also informed that the Enforcement Directorate initiated searches on May 23 and the company is cooperating with the agency.
Reliance Infrastructure promoted Reliance Defence and Dusseldorf-based Rheinmetall AG have agreed on a strategic partnership in the field of ammunition. An Agreement to this effect has now been signed by the representatives of both companies. This marks the third major partnership for Reliance Defence, following its successful strategic alliances with Dassault Aviation and the Thales Group of France.
IIFL Finance has received the necessary regulatory approvals for opening branches and expanding its credit services to the Union Territory of Jammu & Kashmir. This approval is a timely step towards delivering essential financial services in unbanked and underbanked areas, where access to formal credit has historically been limited, IIFL Finance said in a statement.
The Supreme Court has granted a stay on a Rs 5,712-crore GST notice sent to fintech firm One97 Communications-owned real money gaming platform First Games, a regulatory filing said on Saturday. The Directorate General of GST Intelligence, New Delhi had issued a show cause notice (SCN) to First Games in April.
A Joint Venture of Oil and Natural Gas Corporation Limited (ONGC), Hardy Exploration & Production (India) Inc., and Invenire Petrodyne Limited has successfully commenced production from the PY-3 Field, located offshore in the Cauvery Basin on the east coast of India. Originally brought on-stream in 1997, the PY-3 Field had been shut since July 2011. Since then, a multi-phase revised Field Development Plan (FDP) has been implemented to revive production.
Ashok Leyland. Has announced a 1:1 bonus share issue for shareholders, with the record date to be announced later—its first bonus since 2011. The company also approved a dividend payout of ₹4.25 per share, totaling ₹1,248 crore.
SJVN has signed the Power Sale Agreement with Damodar Valley Corporation (DVC) to supply 200 MW power to DVC from its 900 MW Arun-III Hydro Electric Project in Nepal. The 900 MW Arun-III Hydro Electric Project is being developed by SJVN in Sankhuwasabha district of Nepal through its fully-owned subsidiary SJVN Arun-3 Power Development Company (SAPDC). On commissioning, the project will generate 900 MW of clean energy and is expected to play a vital role in meeting the nation’s growing power demands. The project is expected to be commissioned by FY 2027-28.
The board of DroneAcharya Aerial Innovations has approval to acquire balance 49 per cent stake from existing shareholder(s) of PYI Technologies. Post acquisition, PYI Technologies would become a wholly owned Subsidiary of the company. The acquisition will expand the scope of business in Drone Manufacturing, trading and drone training. Cost of acquisition is Rs 49,000. The said acquisition is expected to be completed within 90 days. Meanwhile, the company in a separate disclosure said that it was in receipt of Cautionary Email from BSE Limited regarding Additional Details Required under SEBI Circular dated November 11, 2024, for Corporate Announcement filed under Regulation 30 of SEBI (LODR) Regulations, 2015. There was technical issue at our server with respect to the emails and company’s IT network and our IT Infrastructure team resolved the same by May 23, 2025. “However, the Company is committed to ensuring that such unintended delays in disclosure do not occur in the future,” it further said.
Dr Reddy’s Laboratories has received Form 483 with two observations after the US health regulator inspected its API manufacturing plant in Telangana. The US Food & Drug Administration (USFDA) completed a GMP inspection at the company’s API (active pharmaceutical ingredients) manufacturing facility (CTO-5) in Miryalaguda, Telangana, the Hyderabad-based drug maker said in late evening filing on Saturday. The USFDA inspected the plant from May 19 to May 24, 2025, it added.
Life Insurance Corporation of India has earned a Guinness World Record title for most life insurance policies sold in 24 hours. This historic achievement, verified by Guinness World Records, recognises the extraordinary performance of the corporation’s dedicated agency network on January 20, 2025, LIC said in a statement. On January 20, a total of 4,52,839 agents of LIC successfully completed and issued an astounding 5,88,107 life insurance policies across India, it noted.
Venus Remedies has successfully renewed its good manufacturing practices (GMP) certification from Ukraine’s State Service on Medicines and Drugs Control (SMDC). The certification applies to the company’s Unit-II manufacturing facility located in Baddi, Himachal Pradesh, covering its cephalosporin, non-cephalosporin (carbapenem), and oncology parenteral production lines, including liquid and lyophilized injections, Venus Remedies said in a statement.
Lloyds Engineering Works informed the exchanges that it has received order worth Rs 20.67 crore from Cochin Shipyard for the supply of fin stabiliser systems for next generation missile vessel. The order in respect to Next Generation Missile Vessel, signify the company’s proactive stance in capturing the increasing demand resulting from the government’s heightened defence spending. As new ship orders continue to rise, the order received by the company serve as a promising beginning in leveraging the opportunities presented by this trend.
Sun Pharmaceutical Industries has entered into an agreement with US-based Pharmazz Inc to invest up to USD 25 million, resulting in increasing its stake in the company to 22.7 per cent. The investment triggers conversion of earlier investment through SAFE (simple agreement for future equity) resulting in aggregate stake of up to 22.7 per cent in Pharmazz on a fully diluted basis, the company said in a regulatory filing.
Nibe has received a Purchase Order from a leading global OEM Israel based defence technology company for a total consideration of $17,520,000 i.e. approximately Rs 150.62 crore. The order involves the manufacturing and supply of Universal Rocket Launchers with a range capability of up to 300 km a highly advanced technology being produced in India for the first time for the global market.
Radico Khaitan has taken yet another step in its premiumisation journey with the launch of TRIKAL Indian Single Malt-Eternal Whisky. This exceptional expression marks a meaningful addition to the company’s luxury portfolio, reflecting Radico Khaitan’s passion for creating homegrown spirits that speak to modern consumers who appreciate both elegance and authenticity.
Harsha Engineers International has successfully commissioned 2*5.20 MWp Solar Tracker PV Power Plant (Solar Power Plant) at Survey No. 13, 19, 34, 35, 36, 37, Village: Vada, Talluka: Kankrej, District: Banaskantha, Gujarat. The Solar Power Plant was commissioned on May 23, 2025 in accordance with the approved commissioning protocol and will be used for captive purpose.
JG Chemicals has purchased a piece of Land admeasuring more or less 11.43 Acres situated at Dahej Petroleum, Chemicals and Petrochemicals Investment Region, Gujarat for Rs 24.05 crore, excluding Taxes, Levies & Registration Charges for future expansion. This Investment is aimed at expanding the company’s zinc chemicals and other sustainable recycling product portfolio. It marks JGC’s entry into the West India market and is an important strategic step for the Company’s growth.
The board off Mach Conferences and Events has approved a proposal for acquisition of 60% equity stake of the entity ‘Travexel Events and Travel’. The Target company is into the same line of business and more specifically in the specialised event management. The acquisition marks another step towards achieving long-term vision of becoming a more diversified, resilient and future-ready company.
Results Calendar: Around 200 companies including GIC of India, Aurobindo Pharma, Gillette India, Sumitomo Chemical, The Fertilisers and Chemicals Travancore Ltd., Bayer Cropscience Ltd, KEC International Ltd, Brainbees Solutions Ltd, Jupiter Wagons Ltd, Blue Dart Express Ltd, ACE Ltd, Intellect Design Arena Ltd, Schneider Electric Infrastructure Ltd, Nazara Technologies Ltd, Olectra Greentech Ltd, Maharashtra Seamless Ltd, Sudarshan Chemical Industries, Power Grid Infrastructure Investment Trust, Vadilal Industries Ltd. Polyplex Corporation Ltd, Goldiem International Ltd, Orchid Pharma, Apeejay Surrendra Park Hotels Ltd, PTC India Ltd, Infibeam Avenues Ltd, Pilani Investments and Industries Corporation Ltd, Balaji Amines Ltd, Awfis Space Solutions, TIL Ltd, Bajaj Healthcare, Stanley Lifestyles Ltd, Monte Carlo Fashions, Talbros Automotive Components Ltd, Snowman Logistics, Shalimar Paints, Ruby Mills Ltd, Cheviot Company, Emami Realty, Venus Pipes & Tubes, Lumax Industries, India pesticides, Jindal Drilling & Industries Ltd
Published on May 26, 2025
This article first appeared on The Hindu Business Line
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