🗞️ Daily Business Brief – APR 29 2025
- Meesho faces ₹14.3 crore GST demand dispute; case highlights ambiguity around TCS applicability in social commerce tax rules, company to challenge order.
- India FTAs Commerce Minister Piyush Goyal expects 6–7 new FTAs in next two years; Ecuador FTA targeted by 2026, Jan Vishwas 3 Bill under preparation to reduce compliance burden.
- Vedanta Q4 segmental EBITDA stronger than estimates; aluminium ₹8,485 crore, oil ₹1,065 crore, power ₹566 crore; net debt reduced to ₹53,254 crore with leverage at 0.95x (best in 14 quarters).
- Vedanta Guidance FY27 aluminium volumes seen at 2.6–2.7 Mnt with CoP guidance of $1,650–$1,700 per tonne.
- Union Bank Whistleblower alleges CEO pressured officials to temporarily boost deposits at fiscal year-end; letter submitted to RBI.
- Urea Policy Government preparing new investment policy to bridge 100 lakh tonne supply gap and reduce 25% import dependence; subsidy structure proposed for eight years.
- Bandhan Bank Targets ~15% growth in FY27, RoA expected at 1.6–1.7%, PSLC cost may fall 50% in FY27.
- Bajel Projects Bags ultra-mega transmission order worth over ₹400 crore from MENA region.
- Gold Demand Indians buying more gold for investment than jewellery for the first time, says World Gold Council.
- ACME Solar Commissions 35.7 MW / 160.5 MWh BESS capacity in Rajasthan.
- Pidilite Industries Subsidiary PVPL exits BuildNext via share swap with JSW One Platforms; additional ₹22 crore investment via CCPS.
- Euro Panel Products Incorporates subsidiary Euro Sealant Pvt Ltd; acquires 51% controlling stake effective April 28, 2026.
- Brigade Enterprises Partners with Bain Capital for ₹2,200 crore mixed-use development project in Bengaluru.
- Puravankara Subsidiary Starworth Infrastructure secures ₹144.45 crore construction order.
- Global Fertilizers Urea prices surge to ~$900 per tonne amid Strait of Hormuz disruptions impacting food supply chain.
- Bajaj Finance FY26 AUM growth at 22%; FY27 guidance at 22–24% with marginal NIM moderation expected and steady profitability outlook.
- Larsen & Toubro Sells 100% stake in Hyderabad Metro project for ₹1,461.47 crore.
- Navin Fluorine Strong FY27 outlook; additional R32 HFC capacity (15,000 MTPA) and Dahej debottlenecking to commission in Q3FY27.
- Vedanta Demerger Trading of newly listed entities expected to begin by mid-June.
- OPEC Fund Launches $1.5 billion package to support economies facing commodity and trade disruptions.
- Adani Power Advancing 23.7 GW expansion with strong PPAs, profitability and multi-fold earnings growth visibility over coming years.
- Adani Enterprises Kutch copper plant faces engineering issues; production yet to reach meaningful volumes and underwent repairs in March.
- ATF Pricing Aviation and petroleum ministries discussing cost-based mechanism to reduce crude-to-ATF pricing gap.
- Adani Wealth Gautam Adani wealth rises 49% to $104B from March lows; Mukesh Ambani wealth steady at $92B.
- Piramal Pharma Management expects strong revenue growth in FY27.
- Enviro Infra Suyog Urja unit expected to contribute ₹175 crore PAT over FY26–FY28, adding ~30% to profits over next two years.
- Texmaco Rail Launches ServiceNow-powered AI services brand INVARIZ; expected to generate 1,200+ jobs and $100M incremental revenue by 2030.
- E2E Networks Secures $7.7 million GPU cloud computing services agreement.
- Fertilizer Policy Cabinet note prepared for new urea investment framework to bridge domestic supply gap.
- Vardhman Special Steels Targets 30% revenue from non-auto sectors including aerospace, defence and railways over next decade.
- ideaForge Technology Signs MoU with Japan’s DMP to develop AI drones for Japanese market.
- Man Infra Group entity acquires South Mumbai project with ₹2,000+ crore sales potential.
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