🗞️ Daily Business Brief – APR 26 2025
- JK Cement named preferred bidder for Maliyakheri Limestone Block I in Chittorgarh, Rajasthan; also commissioned 3 MnTPA Buxar grinding unit. Shares closed down 3.70%.
- Paytm Payments Bank RBI cancelled banking licence effective April 24 under Banking Regulation Act; board approved winding-up. No net financial impact and all Paytm services continue without disruption.
- Paytm Payments Bank (PPBL) to cease being an associate of OCL post winding-up; process to be undertaken as per RBI directions with regulatory approval.
- HPCL Rajasthan refinery fire caused by leak; crude distillation unit restart expected in second half of May while secondary units nearing commissioning.
- Axis Finance to raise ₹750 crore from Kedaara Capital via preferential issuance, in addition to ₹1,500 crore rights issue approved earlier.
- Axis Bank management expects NIM to inch towards 3.80%; provisions adequate to absorb stress even under severe oil and currency shock scenario.
- Axis Bank created additional one-time precautionary provision of ₹2,001 crore; tax depreciation allowance reduced FY26 tax expense by ₹2,193 crore.
- IDFC First Bank Q4 profit rose 5% with NII up 16%; asset quality improved and provisions declined to a two-year low.
- Pine Labs board approved acquisition of Shopflo Tech for ₹88 crore.
- Sun Pharma nearing ~$12 billion acquisition of Organon assets; announcement expected soon.
- Manappuram Finance SEBI issued administrative warning letter to Chairman & MD for delayed disclosure of share pledge encumbrance.
- Zydus Lifesciences received DCGI approval to initiate Phase III trials of anti-malarial candidate Zintrodiazine.
- Alembic Pharma received USFDA final approval for Fingolimod Capsules used in multiple sclerosis treatment; market size ~$145 million.
- Hengli Petrochemical sanctioned by US OFAC over role in sustaining Iran’s oil economy; ~40 shipping firms also targeted.
- Iran Maritime Escalation Iran seized two container ships near Strait of Hormuz amid rising tensions.
- Bhansali Engineering Polymers highlighted ₹200 crore capex expansion plan to scale ABS capacity to 100 KMTPA with Nippon A&L technology partnership.
- Anant Raj ED visited company offices for information gathering; no impact on business operations.
- Goldman Sachs estimates oil shock could cost 10,000 US jobs per month for the rest of the year.
- Infosys partnered with OpenAI to accelerate enterprise AI transformation initiatives.
- UPL Brazilian arm to invest ~$86.7 million in associate Sinova Inovacoes Agricola.
- Chabahar Port India may divest stake to local entity ahead of US sanctions waiver expiry while retaining future strategic access option.
- Finance Ministry urged SEBI to simplify KYC norms across financial instruments and increase engagement with global regulators.
- US Economy Data remains strong but consumer sentiment reflects recession-like concerns.
- Patel Retail expanded Mumbai Metropolitan Region presence with launch of 51st store in Rasayani, Raigad district.
- India–New Zealand Trade Deal expected to be signed Monday; ~70% Indian goods may receive duty-free access.
🔔 Stay tuned for daily insights into India Inc, markets & macro stories!
