Larsen & Toubro (L&T) announced on Wednesday that it has signed an agreement to divest its entire stake in L&T Metro Rail (Hyderabad) to Hyderabad Metro Rail for ₹1,461.47 crore, effectively marking its exit from the urban metro rail project. The company disclosed to stock exchanges that a share purchase agreement was executed on April 29, 2026, for the sale of its complete shareholding in the subsidiary. The transaction is anticipated to be finalized by June 30, 2026, after which L&T Metro Rail will no longer be a subsidiary of L&T.
Starworth Infrastructure & Construction Ltd, a wholly-owned subsidiary of Puravankara Ltd, has received a Letter of Intent from NPS Developers for a contract valued at approximately ₹144.45 crore, excluding GST and Labour Cess. This project involves civil, structural, waterproofing, finishing, and allied works for the Nature’s Nest residential project in Bangalore, scheduled for completion within 28 months.
Brigade Enterprises has entered into a partnership with Bain Capital to jointly develop a mixed-use project in Bengaluru, estimated at ₹2,200 crore. In its regulatory filing on Wednesday, the company revealed that this strategic partnership would result in a 50:50 joint venture for the premium mixed-use project located in Whitefield, Bengaluru.
Indian Hume Pipe Company has secured a contract worth ₹458.69 crore for a water supply project in Telangana, contributing to its ongoing pipeline of public sector infrastructure work. Awarded by the Public Health and Municipal Engineering Department under the Government of Telangana, this contract is designated for the Water Supply Improvement Scheme in Greater Warangal Municipal Corporation. Execution of the contract, which is structured as a percentage-based agreement, will take place over a period of 24 months, excluding GST.
PennWhite India (PWI), a step-down subsidiary of Manali Petrochemicals, has inaugurated its manufacturing facility in Oragadam, Chennai, Tamil Nadu. This facility will produce foam control chemistry to meet customer needs in India and the broader Asian markets. PWI is wholly owned by PennWhite, which is a subsidiary of MPL.
Gufic Biosciences has made an additional investment of $50,000 in Selvax by acquiring 378,350 ordinary shares at AUD 20 cents per share. This strategic investment aims to facilitate the development of immunotherapy solutions in oncology, allowing Gufic to diversify into the healthcare and biotechnology sectors and engage in the advancement of immunology-based treatments for large solid tumors.
Ion Exchange (India) Ltd has also executed a Technology Transfer Agreement with MANN + HUMMEL for the production of PVDF Ultrafiltration (UF) membranes and Integrated Membrane Bioreactor (MBR) systems. This collaboration will cover both domestic and international operations.
Published on April 30, 2026.
