Adani Group stocks are anticipated to be in the spotlight on Friday following a decision by the Securities and Exchange Board of India (SEBI). On Thursday, SEBI cleared billionaire Gautam Adani and his group of allegations concerning stock manipulation made by US short-seller Hindenburg Research. The regulator concluded, after a thorough investigation, that there was no evidence to support claims that the conglomerate used related parties to funnel funds into its publicly listed companies. In two separate orders, SEBI stated that allegations of insider trading, market manipulation, and violations of public shareholding norms were found to be unsubstantiated.
In other corporate news, Radhakrishna Damani’s family, founder of India’s largest offline grocery chain Avenue Supermart (DMart), has acquired a 0.5 percent stake in Eternal, the parent company of Blinkit and Zomato.
UGRO Capital announced that it has received approval from the Reserve Bank of India (RBI) for its proposed acquisition of 100 percent shareholding in Profectus Capital Private Ltd, which was approved on September 17. The transaction, which is expected to close by October 31, 2025, is subject to customary closing conditions under the Share Purchase Agreement. Once completed, Profectus Capital will become a subsidiary of UGRO Capital.
Markolines Pavement Technologies Ltd has received a ₹3.51 crore order (including GST) from NCC Ltd for earth piling works in Malad, Mumbai. The company’s current unexecuted order book exceeds ₹400 crore. Recently, it also secured a ₹100 crore order from Trans Metalite India Ltd for patch repair works in Andhra Pradesh.
The board of Waaree Energies has approved its wholly owned subsidiary, Waaree Power Private Ltd, to acquire 76% of Racemosa Energy (India) Private Ltd for approximately ₹53 crore. This transaction is subject to the execution of definitive agreements, customary closing conditions, and regulatory approvals. Racemosa Energy, established in 2018, specializes in manufacturing smart meters.
Hind Rectifier reported that it has received approval from the Tribunal des Activités Économiques of Le Mans for its proposal to acquire the business of BeLink Solutions in France. Hind Rectifier emerged as the successful bidder, and the transaction is not classified as a related party transaction.
Oil India has received dividends totaling $942 million from its Russian assets, representing over 91 percent of its original investment in Vankorneft and Taas Yuryakh. The company’s chairman and managing director, Ranjit Rath, stated that full recovery is expected in the coming year.
Sasken Technologies Limited, a leader in product engineering and digital transformation, announced a strategic partnership with VicOne, an automotive cybersecurity solutions provider, aimed at enhancing in-vehicle and fleet-wide cybersecurity for global original equipment manufacturers (OEMs) and Tier-1 suppliers. VicOne is a subsidiary of Trend Micro.
Ultratech Cement Ltd has awarded a contract worth ₹86.85 crore to Texmaco Rail & Engineering Limited for the delivery of BCFC Wagons and a Brake Van, expected by March 2026.
One MobiKwik Systems confirmed that a technical issue on September 11-12, 2025, mischaracterized certain failed transactions as successful, which led to unauthorized payouts to specific merchants in and around Nuh district, Haryana. The company acknowledged that some merchants and users exploited this issue for financial gain.
The Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB) has signed a Concessionaire Agreement with Mallannasagar Water Supply Ltd, a subsidiary of Ramky Infrastructure Ltd, for the HMWSSB – Godavari Drinking Water Supply Scheme – Phase-II & III. This project includes filling the Osmansagar and Himayathsagar Reservoirs with Godavari Water to rejuvenate the Musi River, under a Hybrid Annuity Mode of Contract, involving the operation and maintenance of the project.
Vedanta has been named the preferred bidder for the Punnam manganese block in Andhra Pradesh after participating in the state government’s e-auction process and successfully qualifying in the initial bid stage. A notification from the Department of Mines & Geology, Andhra Pradesh, confirmed Vedanta’s selection on September 18, 2025.
Metropolis Healthcare Limited has announced the completion of its fourth acquisition in ten months, bringing Dr. R.S. Patil’s Ambika Pathology Laboratory in Kolhapur into its network. Founded by Rajendra Sadashiv Patil, the NABL-accredited facility is recognized as a leading diagnostic provider in the region and was acquired via a Business Transfer Agreement.
Arfin India Ltd has secured a significant order from its distributor, JFE Shoji India Private Limited, the domestic entity of JFE Shoji Corporation, Japan, for the supply of Aluminium Ingots, Aluminium Wire Rods, and Aluminium Cubes/Shots.
Published on September 19, 2025.
