Tata Consultancy Services (TCS) on Thursday announced the appointment of Aarthi Subramanian as Executive Director – President and Chief Operating Office, for a term of five years starting May 1, 2025. The appointment is subject to the approval of shareholders. “Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors has approved today, the appointment of Aarthi Subramanian as Executive Director – President and Chief Operating Officer of the company for a term of five years commencing from May 1, 2025, to April 30, 2030, subject to the approval of the shareholders of the company,” a company filing said.

Kansai Nerolac Paints has appointed Pravin Chaudhari as its Managing Director. Chaudhari will take over from Anuj Jain, who has opted for early retirement after spending 35 years with Kansai Nerolac to pursue personal interests, the company said in a statement. This change is effective from April 10, 2025, and Chaudhari will be based at Kansai Nerolac’s headquarters in Mumbai, it added.

State-owned SJVN Ltd on Thursday said it has released land compensation of ₹269.97 crore for 3,097 MW Etalin Hydro Power Project in Dibang Valley, Arunachal Pradesh. The project aims to construct two dams – on Dri River and on Talo (Tangon) River – along with an underground powerhouse complex, the power producer company said in a statement. According to the statement, the project is scheduled for commissioning in December 2033.

Adani Energy Solutions Ltd (AESL) on Thursday reported a 30 per cent rise in its transmission network length to 26,696 circuit kilometre (ckm) at the end of the March quarter on account of new order wins. The length of the transmission network was 20,509 ckm as of March quarter in FY24, the company said in a provisional operational updates. New order wins led to an increase in the transmission network to 26,696 ckm, highlighting strong bidding capabilities and robust underlying opportunity, AESL said.

Bansal Wire Industries has expanded the manufacturing capacity of its facility in Uttar Pradesh to 6 lakh tonnes per annum (MTPA) at an estimated investment of ₹550-600 crore. The company has added 3.6 lakh tonnes MTPA of new capacity to the earlier 2.4 lakh MTPA. In a statement, Bansal Wire Industries Ltd (BWIL) announced the inauguration of its largest cutting-edge facility in Dadri, with a current production capacity of 3.6 lakh MTPA. BWIL’s total infrastructure is now capable of supporting up to 6 lakh MTPA.

Taj GVK Hotels has received an assessment order amounting to ₹42.13 lakh in tax demand, interest and penalty related to “mismatch” in service tax abatement availed by the company. The hospitality firm said it is in the process of filing an appeal against the said order for the period between April 1, 2015 and June 30, 2017. The order was passed by the Office of the Commissioner of Customs & Central Tax, Appeals-I, Commissionerate, Hyderabad in relation to the Assessment of Service Tax for the hotels of Taj Krishna, Taj Deccan and Taj Banjara.

Century Real Estate plans to launch more than 10 housing projects this fiscal in Bengaluru, with an estimated revenue potential of over ₹9,000 crore. In a statement on Thursday, the company said its sale bookings rose 80 per cent last fiscal to more than ₹1,800 crore. Century Real Estate said the company has a pipeline of more than 10 new projects for 2025-26, with a combined Gross Development Value (GDV) of over ₹9,000 crore.

Gensol Engineering Ltd on Wednesday announced the company has commissioned a ground mounted solar project in Jharkhand. This 40-acre solar power plant will generate over 15 million units of clean energy annually, offsetting 21,000 tonnes of Co₂ emissions every year, Gensol Engineering said in an exchange filing. This project is developed under a ₹40 crore EPC contract and underscores Gensol’s expertise in executing complex solar installations in challenging terrains. The scope includes comprehensive operations and maintenance (O&M) support for five years.

Swan Defence and Heavy Industries Ltd (SDHI) has signed an agreement with State-owned Garden Reach Shipbuilders & Engineers Ltd (GRSE) to enhance indigenous commercial shipping capabilities. In a statement, SDHI said the partnership aims to jointly pursue opportunities in the construction of commercial vessels and offshore structures, with an eye on catering to both global markets and domestic maritime priorities.

JSW Energy’s arm, JSW Neo Energy, has completed the acquisition of 4.7 GW renewable energy platform from O2 Power for an enterprise value of ₹12,468 crore. The total installed capacity now stands at 12.2 GW, with 54 per cent from renewable energy, the company said, adding that it is a bold step towards JSW Energy’s 20 GW vision before 2030.

Tata Steel will cut 1,600 jobs in management and support roles at its Netherlands plant as part of its “transformation programme” to improve production efficiency, lower costs and increase margins, the Indian steel maker said on Wednesday. The company on Wednesday submitted a Request for Advice to the Central Works Council to commence consultation on the transformation plan. It has also informed trade unions about the plan, Tata Steel said in a statement.

Power Finance Corporation has paid a dividend of ₹5,363 crore to its shareholders for financial year 2024-25. PFC is a non-banking financial company (NBFC) under the Ministry of Power. “During Financial Year 2024-25, PFC paid a dividend of ₹5,363 crore (including the final dividend for FY 2023-24 of Rs 825 crore) out of which ₹3,003 crore paid to the Government of India,” the company said in a statement.

BHEL has signed an agreement with Italy-based Nuovo Pignone International s.r.l, to bid for compressor train revamp business opportunities in the fertiliser sector in India. Nuovo Pignone International will be the nominated vendor to Bharat Heavy Electricals Ltd (BHEL) through the subject Memorandum of Understanding (MoU) with a definite scope of work, according to a regulatory filing.

Aurobindo Pharma‘s subsidiary, CuraTeQ Biologics, has successfully completed the Phase 1 pharmacokinetic (PK) and pharmacodynamic (PD) study of the denosumab biosimilar BP16. Denosumab works by specifically targeting the RANK ligand (RANKL), a critical protein in the lifecycle of osteoclasts — cells that break down bone.

Coromandel International has further strengthened its longstanding partnership with Saudi mining company Ma’aden — one of the world’s largest producers of phosphate fertilisers — by signing a Memorandum of Understanding (MoU). This strategic partnership will help Coromandel ensure timely availability of Di-Ammonium Phosphate (DAP) and NP/NPK fertilizers to the Indian farming community.

Greaves Cotton has a tie-up with Chara Technologies to revolutionise the electric mobility landscape by leveraging Chara’s rare-earth-free motor technology. Greaves will manufacture synchronous reluctance motors and controllers exclusively at its Shendra, Aurangabad facility, catering to both automotive and non-automotive applications.

GAIL (India) informed the exchanges that it has completed laying over 97.6 per cent of the integrated Jagdishpur–Haldia–Bokaro–Dhamra Pipeline (JHBDPL), also known as ‘Pradhan Mantri Urja Ganga’. Of this, nearly 96.6 per cent has been put under commercial operation. The pipeline is currently transporting 12.26 million standard cubic meters per day (MMSCMD) of natural gas to eastern and northeastern India.

Schneider Electric, the leader in the digital transformation of energy management and automation, and Freyr Energy Services Pvt Ltd, a leading rooftop solar company in India, have partnered together to accelerate the adoption of smart, energy-efficient, and sustainable solutions for homeowners across the country. As part of this partnership, Schneider Electric will integrate its advanced digital and automation technologies with Freyr Energy’s expertise in rooftop solar solutions. This collaboration aligns with India’s commitment to reducing carbon emissions by 33-35% from 2005 levels by 2030, contributing to the nation’s clean energy transition.

Glenmark and Biocon are recalling products in the US for manufacturing issues, according to the US health regulator. In its latest Enforcement Report, the US Food and Drug Administration (USFDA) stated that a US-based unit of the Mumbai-based drug firm is recalling a medication to treat various ailments like schizophrenia and anxiety. New Jersey-based Glenmark Pharmaceuticals Inc is recalling 8,160 bottles of chlorpromazine hydrochloride tablets in the US for “CGMP deviations”, USFDA stated. Meanwhile, Biocon in a separate notice said that its arm Biocon Biologics has received US FDA approval for Jobevne, which is humanised monoclonal antibody used to treat several different types of cancer.

Sun Pharmaceuticals Industries said that the US Court of Appeals for the Federal Circuit has ruled in its favour and vacated its preliminary injunction of delaying the launch of Leqselvi (deuruxolitinib), effective immediately. After Sun appealed an injunction handed down in the New Jersey federal court in November that blocked Leqselvi’s US launch The company is no longer under any court order delaying or restricting Leqselvi’s market debut, it said.

Bharti Airtel-owned Bharti Hexacom has put on hold its deal to sell 3,400 towers for ₹1,134 crore to Indus Towers, following an intervention by state-owned Telecommunications Consultants India Ltd, which holds a 15% stake in the company. TCIL asked the company to start a fresh process that meets its requirements as a public sector undertaking, Bharti Hexacom said in an exchange filing late on Wednesday. 

Granules India has announced the successful closing of the acquisition of Senn Chemicals AG, a Swiss-based Contract Development and Manufacturing Organization (CDMO), specialising in peptide development and manufacturing. This marks a strategic milestone in Granules’ transformation into a science- and innovation-led organisation and extends its capabilities into the fast-growing peptide therapeutics segment.

United Spirits (Diageo) has received favourable orders from the Commissioner, granting complete relief from the service tax demand of ₹194.5 crore. Additionally, the Commissioner has adjudicated on the issues pertaining to service tax demand on income received from Contract Bottling Units (CBUs) under the category of Intellectual Property Rights (IPR) Services, as well as on CENVAT credit availment raised in the show cause notice and related denovo matters. Pursuant to this, the total demand has been significantly reduced from ₹527.7 crore (plus applicable interest and penalty) to ₹0.88 crore (plus applicable interest and penalty). The Company, however, intends to challenge this order

Sanofi Consumer Healthcare said that the Committee of the Independent Directors has said that on the open offer by Opal Bidco SAS together with Clayton, Dubilier & Rice Fund XII, L.P., is fair. The acquirers make open offer to the public shareholders of Sanofi Consumer Healthcare India for acquiring up to 59,87,962, representing 26 per cent (Twenty Six Percent) of the fully diluted voting share capital of Sanofi Consumer Healthcare India Limited at an offer price of Rs. 4,982.05 a share.

Published on April 11, 2025