🗞️ Daily Business Brief – FEB 24 2025
- India & Gulf Cooperation Council formally launch Free Trade Agreement (FTA) negotiations; Joint Statement signed in New Delhi to deepen trade & investment ties.
- AMD & Meta expand strategic partnership with 6GW AI infrastructure deal; Meta to deploy AMD Instinct MI450 GPUs & EPYC CPUs starting 2026 shipments.
- IRFC OFS Non-retail bidding opens Feb 25; retail on Feb 26; Govt to divest 2% equity with 2% green shoe option; floor price fixed at ₹104/share.
- Lupin receives US FDA approval for Brivaracetam oral solution; launches in US market; product had ~US$135 million annual US sales.
- Tata Sons Leadership Update Noel Tata sets 3 conditions for backing N Chandrasekaran’s 5-year term; board decision deferred to June; Chandrasekaran to continue till Feb 2027.
- Aditya Infotech Promoter & Dixon Technologies likely to sell up to 5.8% stake via block deal.
- Supreme Court Verdict Backs Bank of India in ₹1,500 crore loan default case; upholds fraud classification on Shrenuj & Co., clarifies compliance norms.
- POWERGRID Cabinet approves higher investment limit to accelerate renewable energy transmission projects.
- OpenAI & Anthropic CEOs Sam Altman and Dario Amodei discuss AI governance; call for nuclear-style framework; clarify AI not aimed at replacing industries.
- RVNL Bags ₹270 crore Central Railway order for Daund–Solapur power system upgrade.
- IDFC First Bank Pays ₹583 crore to Haryana Govt; clears 100% principal & interest despite ongoing investigation.
- KEC International Wins fresh orders worth ₹1,002 crore; YTD order intake at ₹21,300 crore.
- Nationwide HPV Vaccination India to soon launch countrywide HPV vaccination program to prevent cervical cancer.
- L&T Shares reverse from 52-week high; company loses nearly ₹50,000 crore market cap amid subsidiary sell-off.
- LIC Portfolio Impact IT sector fall erodes ₹42,500 crore in 2 months; major impact from Infosys & TCS (₹26,510 crore).
- Infosys Partners with CSX & Microsoft to modernize data platform.
- Waaree Energies Receives LOA for 300MW wind power project in Gujarat.
- Power Grid Corp Powergrid Narela Transmission successfully commissions project.
- Hindalco (Novelis) AV Minerals to subscribe 1.3 million Novelis shares for $200 million.
- IOL Chemicals EDQM grants CEP for Clopidogrel Besilate API in addition to existing approval.
- Dr Reddy’s Labs SEC concludes investigation with no enforcement action.
- Exide Industries Invests ₹100 crore in Exide Energy Solutions; total investment now ₹4,352.23 crore.
- Afcons Infrastructure SAG terminates EUR 113.03 million NR1 road EPC contract; project 93% complete.
- Responsive Industries Targets 12–15% revenue growth & 20–24% EBITDA margins; export expansion to drive upside.
- Intellect Design Arena Secures strategic deal mandate; Purple Fabric gains strong momentum in India.
- Centum Electronics Wins ₹66 crore HAL order for AESA radar design; Phase-2 estimated at ₹500 crore.
- Alembic Pharma USFDA final approval for Efinaconazole topical solution (generic Jublia); US market size ~$500 million.
- Man Infraconstruction Receives IOD for Pali Hill ultra-luxury residential project; sale potential above ₹500 crore.
- Himadri Speciality Chemical Commences speciality carbon black operations at Mahistikry plant; total capacity now 2,50,000 MTPA.
- Biocon Gets US approval for weight management drug Liraglutide; GLP-1 US market opportunity at $127 million.
- Anthropic Announces 10 AI plug-ins for investment banking, HR, design & enterprise tasks.
- Adani Ports Incorporates subsidiary Astro Offshore ME.
- 5Paisa Capital Plans to raise up to ₹4.75 billion via rights issue.
- India–US Trade Talks Commerce Minister says talks to resume once tariff clarity emerges; open to calibrated China investment approach.
- Apollo Pipes Acquires additional 3.34% stake in Kisan Mouldings for ₹98 million.
- HG Infra Engineering Declared L1 bidder by NHAI; project cost ₹15.82 billion.
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