Container Corporation of India (Concor) and the Jawaharlal Nehru Port Authority (JNPA) have formalized a Memorandum of Understanding (MoU) aimed at facilitating the development and management of Common Rail Handling Operations at the forthcoming Vadhvan Port. According to the MoU, Concor will take on the role of Common Rail Handling Operator, offering consultancy and operational support in areas such as rail coordination, infrastructure planning, and container management at the common rail yard.
In another development, Dr. Reddy’s Laboratories has received a Notice of Non-Compliance from Canadian regulators pertaining to its Abbreviated New Drug Submission for Semaglutide Injection. The notice requests further information and clarifications. Dr. Reddy’s plans to provide a response within the specified time frame and maintains confidence in the quality and safety of its product. This regulatory setback could postpone the company’s entry into the Canadian market for its semaglutide medication, which is used in diabetes treatment and weight management. Following the announcement, Dr. Reddy’s American Depositary Receipts (ADRs) fell more than 8 percent to $13.41 on the New York Stock Exchange.
Airfloa Rail Technology Limited (ARTL) announced it has received an order valued at ₹3.08 crore from the Modern Coach Factory located in Uttar Pradesh for LHB Power Car Coach side wall sets. The company indicated that the order is set to be fulfilled within a 5-6 month timeframe, as per a notice issued to the stock exchange.
Additionally, Ashoka Infraways Ltd (AIWL), fully owned by Ashoka Buildcon Ltd, has been designated as the successful resolution applicant for Shree Sainath Land & Development India Private Ltd (SSLD). In a statement to the exchanges, Ashoka Buildcon reported that the Committee of Creditors approved AIWL’s resolution plan, which includes a total payout of ₹80.52 crore to creditors. AIWL will assume full ownership of SSLD, contingent upon regulatory approvals, including from the National Company Law Tribunal. This acquisition is aligned with AIWL’s core operations as a real estate developer and may enhance its market positioning.
Solex Energy has inked a memorandum of understanding (MoU) with ISC Konstanz from Germany to collaborate on research and development focused on advanced solar cell technologies. This partnership aims to bolster India’s capacity for domestic solar manufacturing through technological sharing and collective innovation. The collaboration will enable the establishment of a dedicated in-house research and development line, leveraging ISC Konstanz’s patent portfolio to facilitate sustained innovation and enhanced solar manufacturing efficiency in India.
Samvardhana Motherson International Ltd’s board has sanctioned the promotion of Kunal Malani to President – Group Strategy & Transformation, effective November 15. Consequently, Malani will relinquish his position as Chief Financial Officer and Key Managerial Personnel at the close of business on November 14. The company also announced the appointment of Gandharv Tongia as Chief Financial Officer and Key Managerial Personnel, designated as Group CFO, starting November 15.
Sharda Motor Industries Limited, noted as a leading Tier-1 supplier in India, has announced the signing of a Technology Licence Agreement (TLA) with Donghee Industries Co. Ltd., based in South Korea, for advanced suspension products in the Indian market. Under the agreement, Donghee will provide design drawings, process know-how, and validation protocols to Sharda Motor Industries Limited, which will produce Control arms, Torsion beams, and Sub-frames for both Indian and global Original Equipment Manufacturer (OEM) platforms.
Finally, Zydus Wellness Products Limited (ZWPL), a subsidiary of Zydus Wellness Limited, has been served a GST demand of ₹56.33 crore, plus interest and penalties, by the Directorate General of Goods and Services Tax Intelligence. This demand originates from alleged GST dues related to Heinz India Private Limited’s acquisition of intellectual property rights from Heinz Italia S.p.A., which subsequently merged with ZWPL. The tax obligation pertains to the period before January 30, 2019. ZWPL is currently evaluating its appeal options, asserting that it has a strong case. According to Zydus Wellness, this liability is entirely covered by an indemnity from Heinz Italia S.P.A., with no expected immediate financial repercussions.
Published on October 30, 2025.
