🗞️ Daily Business Brief – SEP 24, 2025
- Union Cabinet Approvals – ₹69,725 Cr for Shipbuilding & Maritime Development; ₹15,034 Cr for Expanding Medical Education; ₹2,192 Cr for Bakhtiyarpur-Rajgir-Tilaiya Railway Project; ₹1,866 Cr for Railway Productivity-linked Bonus; ₹3,822 Cr for Four-laning of Sahebganj-Bettiah Highway.
- RBI September Bulletin – GST reforms expected to have sustained positive impact on Indian economy; around 45% of India’s goods exports to US exempted from tariffs.
- Polycab India Ltd – Promoter entities likely to offload up to 0.81% of equity via block deal; estimated offer size ₹887.6 Cr; floor price ₹7,300 per share (3.09% discount to last traded price).
- Birla Corp – Arm wins bid for Kanpa-Junapani limestone block in Telangana.
- Tata Steel – Pumps ₹4,054 Cr into Singapore arm T Steel Holdings.
- Piramal Enterprises – NCLT clears merger with unit; Anand Piramal named Chairman of Piramal Finance; Ajay Piramal continues as Group Chair; Swati Piramal retains Vice Chair role.
- Lupin – Receives tentative US FDA approval for Bictegravir, Emtricitabine & Tenofovir Alafenamide tablets from Nagpur facility; tablets used for HIV treatment; estimated annual sales $16,327 million.
- Newgen Software – UK arm signs cloud hosting & software contract worth €4.2M with TCS Belgium.
- Glenmark Pharma – Enters $1.1B agreement with Hengrui Pharma for exclusive rights to develop & commercialise Trastuzumab Rezetecan; $18M upfront payment.
- GAIL – Revises completion schedule for MNJPL Project (Mumbai-Nagpur-Jharsuguda Pipeline) to Dec 31, 2025 from Sep 30, 2025.
- Olectra Greentech – Appoints Mahesh Babu Subramanian as Managing Director for 3 years; former CEO of Switch Mobility.
- Reliance Consumer – Plans ₹1,156 Cr manufacturing hub in Tamil Nadu.
- Insolation Energy – Subsidiary incorporates GNPR Green Infra for solar projects.
- Motilal Oswal Financial Services – Wholly-owned subsidiary acquires Kusumgar Limited for ~₹100 Cr, part of treasury investment.
- Waaree Energies – Invests ₹300 Cr in subsidiary Waaree Energy Storage Solutions via rights issue to set up 3.5 GWh lithium-ion storage cell plant; subsidiary remains fully owned.
- CRISIL – To acquire McKinsey Pricemetrix for $38M, expanding global wealth management benchmarking offerings.
- IFB Industries – Wholly-owned subsidiary to invest in Europe to enhance engineering design and tooling capabilities.
- Eimco Elecon – Tamrock Great Britain Holdings exercises oversubscription option, increasing Offer for Sale to 14,23,875 shares (24.68% of total equity).
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