🗞️ Daily Business Brief – DEC 03, 2025
- DGCA on IndiGo Flight Cancellations – IndiGo cancelled 1,232 flights recently; 755 due to crew & FDTL limits, and ~350 due to ATC system failures or airspace/airport restrictions.
- Godawari Power – Receives approval for additional 2 MTPA pellet unit; commercial production to begin within a week.
- JSW Steel – JV Deal Impact – Balance sheet deleveraged by ₹37,000 crore; BPSL’s ~₹5,000 crore net debt now deconsolidated from JSW Steel books.
- SEBI introduces a single-window gateway for low-risk foreign investors to ease market access.
- Lok Sabha passes the Central Excise Amendment Bill 2025; FM assures no new tax and no reduction in states’ revenue share.
- IEX November Update – Electricity traded volume up 17.7% YoY (11,409 MU); DAM up 0.3% YoY; Real-time market volume up 40.2% YoY.
- Pine Labs Q2 Results – Net profit ₹5.97 Cr vs loss ₹32 Cr YoY; revenue up 17.8% to ₹650 Cr; EBITDA rises to ₹75.3 Cr; margin improves to 11.6%.
- Excise Bill Update – FM reiterates no state will receive less revenue; Lok Sabha adjourned till tomorrow after debate on tax share.
- Copper Prices – Copper rallies near record high as inventory withdrawal requests at LME surge to the highest since 2013.
- JSW Steel–JFE Steel JV Confirmed – JSW sells 50% stake in BPSL steel business; JFE to invest ₹15,750 Cr to form 50:50 JV for BPSL’s integrated steel facility.
- SEBI on Derivatives Market – Regulator weighing suitability criteria for F&O access; may consider investor’s direct or indirect equity exposure.
- Godfrey Phillips India – New Bill proposes 60–70% excise on unmanufactured tobacco; cigars & cheroots to attract 25% duty or ₹5,000 per 1,000 sticks.
- Adani Enterprises – AdaniConnex incorporates new wholly owned subsidiary: AdaniConnex Hyderabad Three.
- RVNL – Receives LoA worth ₹145 crore from Southern Railway.
- Awfis Space Solutions – Incorporates new wholly owned subsidiary ‘Awfis Transform Private Limited’.
- Newgen Software Technologies – Receives order worth ₹140 million.
- Vodafone Idea AGR Issue – Cabinet Secretary calls meeting with Finance & Telecom Secretaries tomorrow at 3 PM regarding AGR dues.
- NBCC – Bags five orders worth ₹665 crore including redevelopment and repair works.
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