Pfizer Secures Tariff Reprieve
Pfizer Inc., the U.S.-based pharmaceutical giant, has successfully obtained a three-year reprieve from the tariffs on pharmaceutical imports that were instituted by former President Donald Trump. However, a 100% tariff on such products is set to take effect on October 1, 2025.
Newgen Software Faces Legal Setback
Newgen Software has been ordered by the Qatar Investment & Trade Court to pay approximately Rs 12.65 crore (around $1.37 million) plus court costs due to alleged deficiencies and delays in project delivery.
Zydus Lifesciences Extends Acquisition Timeline
Zydus Lifesciences and Sterling Biotech have agreed to postpone the closing date for the acquisition of Sterling Biotech’s API business until December 31, 2025.
AGI Infra Secures Construction Contract
AGI Infra’s division has secured a construction order valued at Rs 325 crore.
ICICI Bank Faces GST Notice
ICICI Bank has received a show-cause notice from the Mumbai tax authorities, associated with a Goods and Services Tax (GST) demand amounting to Rs 216 crore.
SKF India Announces Management Changes
SKF India has seen the resignation of Mukund Vasudevan as Managing Director and Ashish Saraf as Chief Financial Officer. The company has appointed Shailesh Kumar Sharma as the new Managing Director for a five-year term and Aashi Arora as Interim CFO. Additionally, SKF India received a National Company Law Tribunal (NCLT) order sanctioning its demerger scheme.
Swan Defence Partners with Samsung
Swan Defence has entered into a partnership with Samsung Heavy Industries focused on shipbuilding and maritime projects.
Pricol Collaborates with BOE Varitronix
Pricol has established a partnership with BOE Varitronix to localize the optical bonding of vehicle displays.
Electronics Mart Receives Insurance Settlement
Electronics Mart has accepted a final claim settlement of Rs 7.5 crore regarding the fire incident at its Guntur godown, with an expectation to receive the funds within the next 15 days while the facility is under reconstruction.
P N Gadgil Expands Retail Presence
P N Gadgil has inaugurated a new store in Mumbai, marking a total of 63 stores to date.
TVS Supply Chain Solutions Projects Growth
TVS Supply Chain Solutions has set a target of achieving $500 million in revenue from its operations in North America, which are currently growing at a compound annual growth rate (CAGR) of 20%.
VIP Industries Sees Management Changes
VIP Industries has witnessed the resignation of Ramesh Damani as a Non-Executive Independent Director due to personal reasons. Additionally, Ashish Saha (Executive Director) and Neetu Kashiramka (Managing Director) have also resigned following the company’s acquisition by the Multiples Group.
Lupin Receives FDA Approval
Lupin has gained approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Rivaroxaban Oral Suspension, which is utilized in treating venous thromboembolism.
PFC Launches New Subsidiary
Power Finance Corporation (PFC) has established a new subsidiary named South Kalamb Power Transmission.
Geecee Ventures Acquires Shareholding
Geecee Ventures is acquiring 500,000 convertible warrants of Tilaknagar Industries at a price of Rs 382 per warrant, totaling an investment of Rs 19.1 crore.
Allied Blenders Opens Manufacturing Unit
Allied Blenders has commissioned a PET bottle manufacturing unit at its integrated facility in Rangapur, Telangana. The project, costing Rs 115 crore, boasts an annual capacity of over 600 million bottles as part of a Rs 525 crore backward integration initiative targeting an improvement of gross margins by 300 basis points by FY 2028.
Subex Extends Partnership
Subex has secured a five-year extension for its Revenue Assurance and Fraud Management partnership with a leading communications service provider in the Asia-Pacific region, valued at approximately Rs 49.74 crore.
Sastasundar Ventures Approves Buyback
Sastasundar Ventures’ unlisted subsidiary received shareholder approval for the buyback of up to 2.027 million equity shares (8.55% of its paid-up capital) at Rs 493.21 per share, totaling a commitment not exceeding Rs 100 crore.
Ola Electric to Raise Capital
Ola Electric plans to raise Rs 877.6 crore through the issuance of 87.76 crore optionally convertible redeemable preference shares (OCRPS) to its other arm, Ola Cell, via private placement.
Tata Motors Forms New Entity
Tata Motors has incorporated a new entity named TML CV Holdings BV in the Netherlands, investing Rs 120 crore by subscribing to Series C Compulsorily Convertible Preference Shares and acquiring 49,500 equity shares for nearly Rs 14 crore in Freight Commerce Solutions, expecting to hold a 42-46% stake on a fully diluted basis.
Prism Johnson Invests in Insurance Subsidiary
Prism Johnson made an additional investment of approximately Rs 38.25 crore in its general insurance subsidiary by subscribing to 2.39 crore equity shares on a rights basis.
Cantabil Retail Expands Store Network
Cantabil Retail opened 11 new showrooms across India in September 2025, increasing its total store count to 632.
IndusInd Bank Appoints General Counsel
IndusInd Bank has appointed Anand Vardhan as General Counsel and Senior Management Personnel. Previously, he served as the Group General Counsel at Piramal Group.
New India Assurance Faces GST Demand
New India Assurance has received a GST demand of Rs 2,379 crore from the Palghar tax authorities.
SJVN Achieves Solar Power Project Milestone
SJVN’s subsidiary has commenced commercial operations of 128.88 MW of capacity in the 1,000 MW Bikaner Solar Power Project, bringing the total commissioned capacity to 629.90 MW.
LG Balakrishnan & Bros Addresses Cyber Incident
LG Balakrishnan & Bros reported a malware incident impacting some IT systems and has taken immediate action to mitigate the effects and secure its systems.
KP Energy Signs MOU with South Korea
KP Energy, through its arm KPI Green Hydrogen & Ammonia, has signed a strategic Memorandum of Understanding with South Korea’s Jeonbuk Province to advance global green hydrogen initiatives through technology exchange and joint project development.
Phoenix Mills Strikes Off Subsidiaries
Phoenix Mills announced that three non-material wholly owned subsidiaries have been voluntarily struck off the register by the Ministry of Corporate Affairs.
KNR Constructions Secures Project
KNR Constructions has received a letter of acceptance from the Greater Hyderabad Municipal Corporation for a construction order valued at Rs 72.8 crore.
NHPC Revises Commissioning Timeline
NHPC has revised the commissioning date of the remaining 85.72 MW capacity of the 300 MW Karnisar Solar Power Project in Bikaner, Rajasthan, now expected by October 31, 2025.
Avenue Supermarts Opens New Store
Avenue Supermarts has opened a new store in Ghaziabad, increasing its total store count to 432.
Arvind Fashions Announces CEO Resignation
Arvind Fashions has announced the resignation of Shailesh Chaturvedi as Managing Director and CEO.
Ceigall India Wins Bid for Drug Park
Ceigall India has received a letter of intent for a Rs 225 crore project to develop a Bulk Drug Park from a local body in Himachal Pradesh.
Time Technoplast Achieves BIS Licensing
Time Technoplast has received Bureau of Indian Standards (BIS) licensing for manufacturing and sale of PE Pipes for Gas Distribution networks.
Central Bank of India Appoints New MD
The Central Bank of India announced that the government has appointed Kalyan Kumar as Managing Director and CEO for a term of three years.
Atlantaa Enters Major Contract
Atlantaa has entered into a pact with Ircon International for the Rs 2,485 crore Bhandara–Gadchiroli Expressway Project in Maharashtra.
RITES Collaborates with Etihad Rail
RITES has signed a pact with Etihad Rail to enhance business collaboration.
Man Industries Hit with SEBI Penalties
Man Industries faced penalties from SEBI for non-consolidation of financials with Merino Shelters from FY 2015-2021, with individuals barred from the securities market for two years. The company states that the order does not affect its core operations or strong order book exceeding Rs 4,700 crore.
Dalmia Bharat Sugar Prevails in Court
Dalmia Bharat Sugar announced that the Madras High Court has quashed a Rs 120 crore surface rights compensation demand previously raised against it.
Reliance Infra Addresses ED Survey
Reliance Infra clarified that a reported Enforcement Directorate survey under FEMA pertains to a domestic EPC contract from 2010 with no foreign exchange implications. The company emphasized that the work has been completed and that there is no ongoing relationship with the contractor, asserting that the action will not affect its business operations or financial performance.
Power Grid Corporation Wins Bid
Power Grid Corporation announced that it has been declared the Successful Bidder under the Tariff Based Competitive Bidding (TBCB) for an Inter-State Transmission System (ISTS) project.
Adani Total Gas Seeks New CFO
Adani Total Gas reported the resignation of Chief Financial Officer Parag Parikh and is in the process of appointing a successor.
APL Apollo Receives Rating Upgrade
APL Apollo announced that CRISIL has upgraded its Long-Term Rating to ‘AA+’ from ‘AA’, along with a revised Long-Term Rating Outlook to ‘Stable’ from ‘Positive’.
Nestle India Partners with Government
Nestle India signed a Memorandum of Understanding with the Ministry of Food Processing Industries at the World Food India Summit to expedite investments in both greenfield (Odisha) and brownfield (existing) projects over the next two to three years.
Utkarsh Small Finance Bank Offloads NPA
Utkarsh Small Finance Bank’s Management Committee has approved the sale of Rs 24 crore in non-performing assets and written-off loans (fully provisioned) to an Asset Reconstruction Company (ARC) for a final consideration of Rs 11.40 crore via a bilateral transaction.
BHEL Faces GST Notice
BHEL has received a combined GST show-cause notice from the Mysuru Audit Commissionerate for the fiscal years 2019-2023, demanding Rs 65.75 crore.
Oil India Collaborates with GAIL
Oil India has entered into a partnership with GAIL (India) to enhance collaboration across the natural gas value chain.
Indian Bank Adjusts Lending Rates
Indian Bank has reduced its Overnight Marginal Cost of Funds-based Lending Rate by 10 basis points to 7.95% and its 1-Month MCLR by 5 basis points to 8.25%.
CMS Info Systems Plans Workforce Reduction
CMS Info Systems is planning a 10% workforce reduction aimed at boosting productivity. The firm has successfully transformed a Rs 100 crore one-time revenue opportunity in FY26 into a Rs 225 crore recurring revenue stream.
REC Incorporates New Subsidiaries
REC has launched two new subsidiaries, Kempegowda Power Transmission and Barmer HYDC Power Transmission.
HDFC Life Insurance Plans Fundraising
The Board of Directors of HDFC Life Insurance is scheduled to meet on October 15 to discuss proposals for raising funds through the issuance of Non-Convertible Debentures.
Waaree Energies Expands Manufacturing Capacity
Waaree Energies has established a 950 MW solar module manufacturing facility at its plant in Gujarat.
RCF Completes Joint Venture Resolution
RCF has received NCLT approval for its proposed resolution plan regarding the FACT-RCF joint venture.
General Insurance Corporation Announces Leadership Change
General Insurance Corporation has reported that Ramaswamy Narayanan has retired as Chairman and Managing Director upon reaching the age of superannuation.
PB Fintech Reappoints Board Members
The Board of PB Fintech has re-appointed Yashish Dahiya as Chairman, CEO, and Executive Director for a five-year term, along with Alok Bansal as Executive Vice Chairman and Whole-Time Director for the same duration.
HUDCO Reports Financial Performance
HUDCO sanctioned Rs 92,710 crore and disbursed Rs 25,839 crore in loans for the half-year ending September 30. The second-quarter disbursements increased 43.6% year-on-year, reaching Rs 13,026 crore.
Sri Lotus Developers Launches New Projects
Sri Lotus Developers has introduced two new projects, with estimated Gross Development Values of Rs 700 crore and Rs 300 crore, respectively.
Prime Focus Reappoints Chairman
Prime Focus has re-appointed Naresh Malhotra as Chairman and Whole-Time Director for a three-year term.
DLF Approves NCD Allotment
DLF’s arm has approved the allotment of 1.1 lakh non-convertible debentures (NCDs) worth Rs 1,100 crore via private placement.
Suryoday Small Finance Bank Receives Claim Payment
Suryoday Small Finance Bank has received a full claim payment of Rs 314 crore from the National Credit Guarantee Trustee Company.
Vedanta Extends Scheme Fulfillment Deadline
Vedanta has pushed back the deadline for completing its Scheme of Arrangement, which involves itself and four resulting companies, from September 30 to March 31, 2026, due to pending approvals from the NCLT and government authorities.
Medplus Health Services Faces Drug License Suspension
Medplus Health Services has received a suspension order for its drug license for one of its stores located in Telangana.
Lodha Appoints Regional CEO
Lodha has appointed Anubhav Gupta as the Regional CEO of Retail. Gupta brings over 25 years of experience in various leadership roles across notable firms including DLF and Godrej Properties.
Fusion Finance Appoints New Leadership
Fusion Finance has appointed Sanjay Garyali as Managing Director and CEO, following the resignation of Devesh Sachdev from the role.
