🗞️ Daily Business Brief – june 09 2025
- Bharti Airtel receives financial relief of over ₹10,500 crore after the Bombay High Court quashed one-time spectrum charge (OTSC) demands and directed return of bank guarantees.
- Vodafone Idea also benefits from the Bombay High Court verdict, which sets aside spectrum charge demands worth over ₹10,500 crore across telecom operators.
- InterGlobe Aviation (IndiGo) remains in focus after ATF prices were increased by nearly 10%, likely raising airline operating costs.
- OMC Sector raises ATF prices by 10% and introduces a price stabilisation mechanism allowing airlines to lock fuel prices for up to three years.
- Ajanta Pharma promoter Ravi Agrawal Trust sold 34.5 lakh shares worth ₹1,024 crore via block deal; Kotak MF and Aditya Birla Sun Life MF were key buyers.
- Emcure Pharmaceuticals saw BC Investments IV sell 36 lakh shares worth ₹612 crore through a block deal, with Kotak Mahindra Mutual Fund emerging as buyer.
- NLC India government increases OFS size to 3% from 2% after exercising oversubscription option; total offer expands to 4.16 crore shares.
- Dixon Technologies signs binding term sheet with Gemtek Technology to form a JV for manufacturing optical transceivers and BOSA products.
- Dredging Corporation appoints Jasmeet Singh Bindra as Additional Director and Chairman effective June 9, 2026.
- Hinduja Group Solutions broadband arm OneOTT launches Project GANGA in Uttar Pradesh to provide connectivity to 20 lakh households.
- Brent Crude extends losses and falls below $91 per barrel for the first time since April 17.
- JSW Infrastructure emerges as successful bidder for container berths at Kolkata Port.
- KNR Constructions secures ₹235 crore EPC contract for a six-lane flyover project in Hyderabad.
- Vijaya Diagnostic CFO Ankit Shah resigns citing personal reasons.
- Studds Accessories shares surge over 16% during trading session.
- Adani Green Energy sees block deal involving 2.15 crore shares representing approximately 1.3% equity.
- Emerald Finance partners with Yerik International to launch an early-wage-access programme and expand salary advance loans.
- KRN Heat Exchanger to invest ₹235.26 crore in wholly-owned subsidiary KRN HVAC Products.
- Education Sector India approves campuses of University of Bristol, University of York and University of New South Wales under foreign university initiative.
- Real Estate Sector developers welcome RBI’s decision to maintain repo rate at 5.25%, citing positive implications for housing demand.
- Voltas says FY27 margin improvement will depend on cost efficiency and pricing discipline.
- EV Industry passenger EV sales jump 81% in May, led by Tata Motors and Mahindra.
- Starlink India approval process reportedly paused over national security concerns.
- NSE earmarks 10% of annual CSR budget for projects listed on the Social Stock Exchange.
- Russian Urals Oil trades at a discount of $2–3 per barrel to Brent for India and China deliveries.
- Iran-US Talks draft agreement reportedly receives initial acceptance from the US side.
- US Economy Moody’s Chief Economist warns recession risks remain elevated.
- Maruti Suzuki waives proposed ₹30,000 price hike on small cars for bookings made till June 14.
- Business Travel Sector 74% of Indian firms expect growth in travel spending while adopting AI tools for cost optimisation.
- Defence Ministry clears 250 MW solar power project with battery storage at Sitapur Cantonment.
- Indian Air Force to assist nationwide NEET re-test operations by transporting question papers.
- Afcons Infrastructure bags ₹5,301 crore Vadhvan Port breakwater project in Maharashtra.
- Government Finances FY27 fiscal deficit target of 4.3% remains on track with no immediate need for additional borrowing.
- Glenmark Pharmaceuticals targets 13–15% revenue CAGR and EBITDA margin above 23% by FY27 while maintaining a net cash position.
- RMC Switchgears outlines FY27–FY29 growth strategy; order book crosses ₹800 crore with active tenders exceeding ₹1,500 crore.
- Bharti Hexacom receives relief after Bombay High Court sets aside ₹473.7 crore spectrum charge demand.
- Gold Imports government says imports are declining after duty hike and no further restrictions are planned.
- Oil Marketing Companies government indicates no compensation is planned for under-recoveries.
- Fertiliser Sector subsidy burden expected to rise sharply in FY27 compared with budget estimates.
- Patanjali Foods receives Maharashtra FDA notice regarding promotional claims linked to Karela Jamun Juice.
- Anthropic expands access to its cyber AI platform “Mythos” to 200 elite organisations.
- World Bank says India’s strong economic fundamentals and strategic partnerships remain supportive of growth.
- Auto Sector FADA expects monsoon and kharif sowing season to support vehicle demand from June to August.
- UltraTech Cement commissions a wire and cable manufacturing facility.
- Embassy Developments promoter group releases pledge on 2 crore shares representing about 14% equity.
- China AI Sector plans nearly $295 billion expansion in AI data centre infrastructure.
- TCS says AI will reduce traditional hiring needs but create new opportunities over time; management views AI as a major opportunity rather than a threat.
- Jindal Poly Films receives Supreme Court relief as disputes are referred to a sole arbitrator.
- Godrej Properties sells homes worth over ₹2,000 crore at the launch of Godrej Vanantara in Bengaluru.
- Bajaj Finserv non-executive director Rajiv Bajaj to step down and not seek re-election at the July AGM.
- Interarch Building Solutions secures a ₹58 crore order for design, manufacturing and erection of pre-engineered steel buildings.
- IRB Infrastructure receives relief as High Court bars Mumbai-Pune Expressway authority from recovering ₹100 crore from its unit.
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