🗞️ Daily Business Brief – JAN 20 2025
- PowerGrid to procure reactors and transformers worth ₹914 crore; three proposals approved for execution within 30 months; stock trades at ₹254.50, down 1.22%.
- US Supreme Court will not issue a decision on tariffs today.
- HDFC Bank receives RBI approval for Kaizad Bharucha as Whole-Time Director effective April 19, 2026.
- Apollo Tyres targets double-digit growth in India at Davos 2026; plans to shut Netherlands plant amid Chinese import pressure.
- Motor Vehicle Rules Amendment introduced by India: No NOC, fitness renewal, or permits if toll dues are pending.
- EU-India FTA termed “Mother of all Deals” by Ursula von der Leyen ahead of upcoming agreement.
- Blackstone CEO Stephen A. Schwarzman says India is the top business globally in return rates; highlights AI-driven economic growth momentum.
- Core Industries Output grows 3.7% in December versus 2.1% in November.
- JSW Group (Auto Business) MD Parth Jindal announces JSW Car launch before Diwali this year; ₹14,000 crore invested in auto segment; second car planned for January 2027.
- Embassy Developments launches three residential projects in MMR region with GDV exceeding ₹12,000 crore.
- Cyient DLM secures new program wins across medical, industrial, aerospace, and mobility sectors with order intake of ₹387 crore; volume ramp-up expected in Q4.
- Ksolves India enters business partner agreement with Gulf Consulting FZ LLE, UAE to expand software services business.
- Edelweiss Financial Services subsidiary EAAA India Alternatives files DRHP for IPO with OFS up to ₹1,500 crore.
- REC Project SPV Rajgarh III Power Transmission Ltd struck off and dissolved; ceases to be subsidiary of RECPDCL.
- Muthoot Microfin approves issuance of secured NCDs: 5,000 NCDs worth ₹50 crore and 10,000 NCDs worth ₹100 crore.
- Persistent Systems board approves transfer of 100% stake in Germany and France subsidiaries to Aepona Group Ireland as part of restructuring.
- Ramkrishna Forgings commences commercial production at aluminium forging facility in Jharkhand with capacity of 3,000 TPA; aims to strengthen EV market presence.
- Intellect Design Arena secures multi-year AI-led GRC mandate in Canada with Carte Wealth using Purple Fabric platform.
- IRFC management indicates revenue outlook to improve from next quarter as agreements with Indian Railways are signed and disbursements accelerate.
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