🗞️ Daily Business Brief – MAY 12 2025
- Rupee: Among world’s worst-performing currencies as rising oil prices and continued foreign investor outflows pressure the Indian currency.
- CBDT: Likely to intensify tax recovery efforts; targets ₹2.57 lakh crore confirmed tax demand recovery.
- Lupin: Receives USFDA approval for Famotidine Injection used in treatment of ulcers and GERD; product references Merck’s Pepcid injection.
- SEBI: Considering easing short-term borrowing rules for mutual funds to improve liquidity management flexibility.
- PNC Infratech: Joint venture emerges L1 bidder for ₹572 crore bridge EPC project in Uttar Pradesh.
- Cabinet: Approves ₹2.6 lakh crore allocation for Kharif MSP for FY27.
- Government Sources: AI server demand and memory costs may increase electronics imports; FY26 electronics imports estimated at $116.17 billion.
- Amul & Mother Dairy: Increase milk prices by ₹2 per litre effective May 14 across major variants.
- HPCL: Says crude supply fully secured for long term; pricing remains key challenge. Debt reduced to ₹47,599 crore through strong working capital management.
- CleanMax: Expects operating profit to exceed ₹2,200–2,500 crore by FY28 driven by rising AI-related power demand.
- Zydus Lifesciences: Subsidiary to acquire Nasdaq-listed Assertio Holdings in an all-cash deal worth $166.4 million.
- JP Morgan: Says investor fear is rising sharply with many clients turning bearish; traders advise investors to stay calm amid volatility.
- Iran: Plans “service fee” for ships passing through Strait of Hormuz covering navigation and rescue support services.
- Sterlite Technologies: Delhi High Court dismisses company petition against arbitral award in BSNL dispute.
- US House: To debate resolution seeking removal of US armed forces from hostilities against Iran.
- DCM Shriram: Approves ₹101 crore capex plan to expand formulated resins capacity at Hindusthan Specialty Chemicals unit.
- Bajel Projects: Bags major EPC order for 765kV AIS substation package in Maharashtra worth ₹200–300 crore.
- Kerala: Becomes first Indian state to limit bulk fuel sales with caps on petrol and diesel purchases.
- TVS Motor: Expects single-digit percentage sales growth in FY27.
- Zaggle Prepaid: Appoints Venkatesh Ramachandran as Group CFO effective May 18, 2026.
- India-UAE Talks: PM Modi discussions expected to focus on energy security cooperation.
- NBCC: Wins two construction projects worth ₹131.02 crore.
- VA Tech Wabag: Announces first Bio-CNG project in Ghaziabad in partnership with PEAK.
- Cipla: Says no raw material shortages currently, though price increases and freight challenges linked to Iran crisis are emerging.
- Lloyds Engineering Works: CCI approves merger scheme involving multiple infrastructure and engineering entities.
- HPCL: Targets more than 2x EBITDA growth by FY28; refining capacity expected to rise to 45.3 MTPA from 35.8 MTPA.
- MTAR Technologies: Expects approximately ₹4,000 crore order inflow from clean energy segment in FY27.
- Goldiam International: Says higher import duty on precious metals will not materially impact operations due to SEZ exemptions.
- Iran-India Relations: Safe movement of Indian ships through Strait of Hormuz likely to be key discussion point during BRICS-related talks.
- L&T: Wins significant contract valued between ₹1,000 crore and ₹2,500 crore.
- Torrent Power: Announces strong multi-year investment pipeline across renewables, transmission and distribution infrastructure.
- Torrent Power: Guides for 1.2–1.4 GW renewable commissioning in FY27 under secured PPAs with negligible curtailment exposure.
- Torrent Power: Aggressively expanding into renewables and pumped storage hydro as part of long-term green energy strategy.
- Dixon Technologies: Says Vivo-Dixon JV related announcement expected soon.
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