SEBI Clears Adani Group of Stock Manipulation Allegations
- The Securities and Exchange Board of India (SEBI) has dismissed allegations of stock manipulation and violations of public shareholding regulations against the Adani Group, which were raised by U.S. short-seller Hindenburg Research.
- This decision provides significant regulatory relief to the conglomerate and is expected to boost investor confidence, potentially leading to higher inflows from domestic and foreign investors.
L&T Secures Significant Orders for Equipment and Valves Businesses
- Larsen & Toubro's construction equipment and industrial products division has won multiple orders valued between ₹1,000 crore and ₹2,500 crore.
- The orders include long-term after-sales support for mining equipment, contracts for tyre curing and building machinery from major Indian tyre manufacturers, and multiple orders for its valves business from domestic and Saudi Arabian EPC companies.
Biocon Subsidiary Receives USFDA Approval for Two Biosimilars
- Biocon Biologics, a subsidiary of Biocon Ltd., has received approval from the U.S. Food and Drug Administration (FDA) for two denosumab biosimilars, Bosaya and Aukelso.
- These drugs, used for treating osteoporosis and preventing skeletal-related events, have also been granted provisional interchangeability, which allows for pharmacy-level substitution and could enhance market adoption.
Lupin Gets US FDA Nod for Generic Cancer Drug
- Pharmaceutical major Lupin has received approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Lenalidomide capsules, a generic equivalent to Revlimid®.
- The drug is used to treat multiple myeloma and other cancers and will be manufactured at Lupin's Pithampur facility, providing a cost-effective alternative in a market with estimated annual U.S. sales of $7.5 billion.
Arfin India Bags ₹180 Crore Order from JFE Shoji
- Small-cap aluminum products manufacturer Arfin India has secured a supply order worth approximately ₹180 crore from JFE Shoji India Private Limited.
- The contract is for the supply of about 6,900 metric tonnes of aluminum ingots, wire rods, and cubes/shots, to be executed between October 2025 and March 2026.
TCC Concept Signs Term Sheet to Acquire Pepperfry
- Realty services company TCC Concept Ltd has signed a term sheet for the acquisition of online furniture retailer Pepperfry Ltd.
- The deal, subject to due diligence and regulatory approvals, is aimed at strengthening TCC's presence in the e-commerce and digital marketplace sectors by integrating Pepperfry's established platform.
Texmaco Rail & Engineering Secures ₹86.85 Crore Wagon Order
- Texmaco Rail & Engineering has won an order worth ₹86.85 crore from UltraTech Cement for the supply of BCFC wagons and a brake van.
- The deliveries for this order are scheduled to be completed by March 2026.
- This adds to a series of contract wins for the company in recent months.
Unilever Appoints Srinivas Phatak as New Chief Financial Officer
- Unilever PLC has confirmed the appointment of Srinivas Phatak as its new Chief Financial Officer (CFO), who will also join the company's board.
- This appointment is material for investors in Hindustan Unilever Ltd (HUL) as Phatak previously served as the CFO of HUL, and Unilever's leadership has a direct impact on its Indian subsidiary.
Jaykay Enterprises Subsidiary Wins ₹94.45 Crore Order from BrahMos Aerospace
- Allen Reinforced Plastics Limited, a step-down subsidiary of Jaykay Enterprises, has secured an order valued at approximately ₹94.45 crore from BrahMos Aerospace Private Limited.
- The contract is for the manufacture of composite parts and will be executed as per the terms specified by BrahMos Aerospace.
