🗞️ Daily Business Brief – MAR 16 2025
- Oberoi Realty signs development agreement with Maharashtra Housing and Area Development Authority for land at Versova, Andheri (W); expects ~17.18 lakh sq ft free-sale area from the project.
- Reliance Industries signs landmark long-term Green Ammonia offtake agreement with Samsung C&T; 15-year supply to start in 2H FY2029 with deal value exceeding $3 billion.
- Zydus Lifesciences announces Sentyln Therapeutics agreement with PRG S&T to license a molecule for treatment of Hutchinson-Gilford Progeria Syndrome.
- Redington says Gulf FZE operations in the Gulf region face restrictions due to geopolitical tensions; financial impact uncertain while company activates business continuity and safety protocols.
- Axiscades Technologies approves acquisition of remaining 24% stake in CADES STUDEC Technologies for $1.5 million, making CSTI a wholly owned subsidiary.
- MakeMyTrip reaffirms strategy to strengthen category leadership in India and evaluates potential listing of MakeMyTrip India in domestic markets.
- Sun Pharma receives US FDA acceptance for supplemental biologics license application for ILUMYA to treat adults with active Psoriatic Arthritis.
- L&T Technology Services launches AI-powered Digital Twin platform for advanced lung diagnostics using NVIDIA AI infrastructure.
- Bajaj Electricals acquires Morphy Richards brand rights in India and neighbouring markets for ₹168 crore to strengthen premium appliances segment.
- Iran–US tensions escalate as Iran’s foreign minister criticizes the U.S. over policy stance while global focus remains on the strategic Strait of Hormuz oil route.
- Adani Enterprises receives approval from NCLT Ahmedabad for composite scheme of arrangement, marking progress in corporate restructuring.
- Alkyl Amines Chemicals temporarily suspends manufacturing of methylamines and ethylamines due to LNG supply disruption affecting ammonia production.
- Thermax subsidiary FE8PL signs share subscription and shareholders agreement with India Cements; deal gives India Cements 14.63% stake.
- Sagar Cements plans to sell 7.24% stake in Andhra Cements through Offer For Sale to unlock value and strengthen balance sheet.
- RailTel Corporation receives ₹426.3 million work order from National Informatics Centre Services Incorporated for digital infrastructure projects.
- Intellect Design Arena forms 50:50 joint venture with Fintel Plc in the UK to deploy Agentic AI platform in wealth management market.
- Tata Motors announces price hike on passenger vehicles to partially offset rising commodity and input costs.
- RVNL receives Letter of Acceptance from NMDC for refurbishment work at Kirandul and Bacheli valued at ₹95.27 crore.
- Gujarat State Fertilizers linked potash project in Canada gains strategic focus as India moves to secure 44% output from the Karnalyte Potash project.
- Bandhan Bank clarifies it has no information regarding reports of promoter stake sale or IPO plans for investor exits.
- IDBI Bank clarifies rumours on government scrapping strategic disinvestment are incorrect; no communication received from authorities.
- India Trade Data shows Apr–Jan gold imports up 20.1% and silver imports up 128.5%; February services exports at $39.53B with $23.15B trade surplus.
- MeitY Press Note 3 update introduces faster FDI approval mechanism for electronics, rare earths and solar supply chains with 60-day processing window.
- Power Mech Projects wins ₹709.56 crore contract from Adani Infrastructure for 60-month O&M services at Tiroda thermal power plant in Maharashtra.
- India–US trade deal discussions on hold as India waits for clarity on new US tariff framework after court rulings struck down earlier reciprocal tariffs.
- GMDC and NMDC sign pact to explore development of rare earth value chain in Gujarat including mining, processing and downstream applications.
- Reliance Communications moves Supreme Court seeking review of judgment that held telecom spectrum as a public asset not subject to IBC restructuring.
- SEBI commodity derivatives review advisory committee seeks feedback on allowing FPIs to participate in options trading in commodity derivatives.
- Waaree Energies receives arbitration notice from International Court of Arbitration filed by Enel Green Power involving monetary claims; company evaluating response.
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