Infosys has expanded its strategic partnership with Norway’s DNB Bank ASA to upgrade its Financial Crime (FinCrime) operations using the NICE Actimize X-Sight Enterprise platform. This collaboration aims to convert fragmented, legacy systems into a cohesive, intelligence-driven, cloud-native platform that enhances risk insights, improves detection accuracy, and bolsters multi-jurisdiction regulatory compliance.
The Enforcement Directorate (ED) has started investigations into alleged foreign exchange violations by the Vedanta Group. The agency conducted searches at several Vedanta locations, including offices in Delhi, Mumbai, and Udaipur, as part of its inquiry under the Foreign Exchange Management Act (FEMA). While the ED has yet to disclose specific details regarding the nature of the violations, a Vedanta spokesperson confirmed that the company is fully cooperating with the authorities.
Shelter Pharma has obtained the Renewal Manufacturing Licence (Form 25D) for its Himatnagar unit from the Food & Drugs Control Administration (Ayurved), Government of Gujarat, allowing for the production of Ayurvedic products.
John Cockerill India (JCI) has secured a contract from JSW Vijayanagar Metallics, a subsidiary of JSW Steel, valued between ₹1,250 crore and ₹1,300 crore. This project focuses on establishing a Cold Rolled Non-Oriented (CRNO) steel facility, an essential component for manufacturing electric vehicle (EV) motors and energy-efficient transformers, thereby positioning JCI at the forefront of the energy transition.
Advait BESS Bhesaan Private Ltd, a subsidiary of Advait Energy Transitions, has signed a Battery Energy Storage Purchase Agreement with GUVNL for a 150 MW/300 MWh standalone Battery Energy Storage System (BESS) project near the 220kV Bhesan AIS S/S sub-station in Gujarat. The contract, secured through GUVNL’s Phase-VIII tariff-based competitive bidding and backed by Viability Gap Funding, will span 12 years from the effective date of signing.
Provigil Surveillance, a wholly owned subsidiary of Magellanic Cloud, has received a Letter of Acceptance (LOA) from South Western Railway, Hubli Division, for a contract valued at approximately ₹4.31 crore. The project involves the provision of CCTV at 75 non-interlocked manned level crossing gates across the Hubli Division.
Servotech Renewable Power System has signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), Department of Industries & Commerce, Government of Haryana, to expand its manufacturing and warehousing operations in Haryana with a proposed investment of around ₹400 crore. This investment aims to support the growth of manufacturing capacity in sectors identified under the Make in Haryana Industrial Policy 2026, including EV chargers, solar products, Battery Packs, BESS, and power electronics.
Two promoter entities of Alkem Laboratories have divested a 1.5% stake in the company for ₹930 crore through open market transactions. Jayanti Sinha and the Samprada & Nanhamati Singh Family Trust sold a total of 17,88,220 shares at an average price of ₹5,200 each, resulting in a total transaction value of ₹929.87 crore.
The Competition Commission of India (CCI) has approved a restructuring proposal for UPL group entities aimed at consolidating the company’s domestic and global crop protection businesses. The approved transaction involves UPL Ltd, UPL Sustainable Agri Solutions Ltd, and several other subsidiaries, transferring UPL’s India crop protection business to UPL Global Sustainable Agri Solutions.
REC Power Development and Consultancy Limited (RECPDCL), a wholly-owned subsidiary of REC, has transferred two project-specific Special Purpose Vehicles (SPVs) to private entities. The SPVs, Hampapura Power Transmission and Mekhali Power Transmission, were handed over to successful bidders Resonia Ltd and Dilip Buildcon.
The board of Canara Bank has approved a fundraising plan of up to ₹8,500 crore through debt instruments to enhance its capital base and support business growth for fiscal year 2027. The plan includes raising up to ₹4,500 crore via Basel III-compliant AT1 bonds and up to ₹4,000 crore through Tier II bonds, subject to market conditions and regulatory approvals.
Published on June 3, 2026.
