🗞️ Daily Business Brief – APR 16 2025
- VA Tech Wabag clarifies it has not secured any ₹600+ crore Saudi Arabia STP project; confirms L1 status only for Kuwait desalination plant and awaiting LOA.
- Wipro announces ₹15,000 crore share buyback at ₹250 per share, implying ~19% premium to previous closing price.
- Angel One approves ₹1.5 billion investment each in Angel Fincap and Angel One Wealth to strengthen financial services ecosystem.
- India–Russia Steel Cooperation governments hold dialogue and round table discussions on raw material sourcing, equipment manufacturing, technology collaboration, and research partnerships.
- TVS Motor increases stake in subsidiary DriveX Mobility to 92.41% with acquisition of additional 5.03% equity to expand mobility footprint.
- CESC signs PPAs for 600 MW wind–solar hybrid capacity, including procurement of 300 MW from subsidiary Purvah Green Power.
- RVNL emerges L1 bidder for East Coast Railway bridge project worth ₹967.93 crore on EPC mode.
- Wipro management indicates Anthropic’s Mythos may present future opportunity; softness in Q1 outlook due to challenges with a client in Americas 2 region.
- Hindustan Copper clarifies no active negotiations with Codelco Chile for JV; currently limited to shared geophysical data evaluation with no material impact.
- DCM Shriram forms Polytek JV with Teknor Apex via Shriram Polytech to strengthen advanced plastics portfolio.
- Sulphur Export Policy government considering export curbs to ensure domestic availability for fertilizers and chemicals; may impact export realizations of refiners like Reliance Industries, Indian Oil, and MRPL.
- Bharat Petroleum Corporation announces final investment decision for BM-SEAL-11 Brazil concession; IBV Brasil Petróleo holds 40% interest with total project investment ~USD 2.8 billion.
- MosChip Technologies approves acquisition of 73% stake in Vayavya Labs for ₹245.49 crore at ₹192 per share.
- Zydus Lifesciences receives USFDA EIR approval for oncology injectable manufacturing facility at SEZ-1 Ahmedabad following inspection in Nov 2025.
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