Reliance Industries Halts Russian Crude Imports at SEZ Refinery

• Reliance Industries Ltd (RIL) has stopped importing Russian crude oil for its export-focused refinery in Jamnagar, Gujarat, ahead of impending sanctions.
• This move is to ensure compliance with European Union and US restrictions on petroleum products derived from Russian crude.
• Any Russian crude arriving after November 20 will be processed at the domestic unit, which is not subject to the same export restrictions.

Larsen & Toubro JV Emerges Lowest Bidder for Metro Rail Contract

• A joint venture between H.G. Infra Engineering and Kalpataru Projects International has been declared the lowest bidder for a Maharashtra Metro Rail contract valued at Rs 1,415 crore.
• The project involves the design and construction of an elevated metro viaduct for the Thane Integral Ring Metro Project.
• This order win strengthens the company's position in the urban infrastructure development sector.

Indifra Secures Order from L&T for Bullet Train Project

• Small-cap company Indifra has received a work order worth Rs 4.05 crore from Larsen & Toubro.
• The contract is for the supply and installation of aluminium composite panel cladding at the Surat depot of the Mumbai-Ahmedabad Bullet Train project.
• The order marks a significant win for the company, associating it with a high-profile national infrastructure project.

Cipla Receives US FDA Observation for Manufacturing Plant

• Pharmaceutical major Cipla has received one observation from the U.S. Food and Drug Administration (US FDA) following an inspection of its Bommasandra manufacturing facility in Bengaluru.
• A single observation is generally considered a low-risk issue and is not expected to materially impact the company's US business operations, provided it is addressed effectively.

L&T's Defence Business on Track to Cross $1 Billion Revenue

• Larsen & Toubro is on course to achieve $1 billion in revenue from its defence business in the current fiscal year, making it India's largest private-sector military equipment supplier.
• This growth is driven by the Indian government's focus on defence modernization and increased local procurement mandates.
• The milestone solidifies L&T's position as a key contributor to India's defence industrial base.

IndiGo Expands International Network with New Routes

• IndiGo has been rapidly expanding its international presence, recently launching flights to new destinations including Copenhagen and announcing services to London Heathrow.
• The airline has also commenced direct flights between Delhi and Manchester and has started services to Guangzhou from both Kolkata and Delhi.
• This expansion is a strategic shift to capture a larger share of international traffic and benefit from lower taxes on fuel for overseas routes.

Dr. Reddy's Laboratories Recalls Product in the US

• The U.S.-based arm of Dr. Reddy's Laboratories has initiated a recall of Succinylcholine Chloride Injection due to an out-of-specification result found during stability testing.
• A decrease in the concentration of a preservative agent could potentially increase the risk of reduced sterility assurance.
• This is a Class III recall, which is initiated in situations where the use of the product is not likely to cause adverse health consequences.

Vedanta Advances Plans for Copper Rod Plant in Saudi Arabia

• Vedanta is moving forward with its plan to build a copper rod plant in Ras Al Khair Industrial City, Saudi Arabia, with an investment of SAR 100 million.
• The facility will have an annual production capacity of 125,000 tons and will cater to the growing demand for cables and electrical components in the Kingdom.
• This project represents Vedanta's first major industrial investment in Saudi Arabia and is a key step in developing the copper value chain in the region.

Vedanta to Invest in Major Aluminum Capacity Expansion

• Vedanta plans to invest ₹13,226 crore to increase its aluminum production capacity from the current 2.4 million tonnes per annum (MTPA) to 3.1 MTPA by the 2028 fiscal year.
• This expansion is central to Vedanta's growth strategy, aiming to capitalize on the rising global demand for aluminum, which is critical for sectors like electric mobility and renewable energy.
• The investment will be executed in stages and will also see its subsidiary BALCO reach a 1 MTPA production capacity.

Wipro Secures IT Transformation Deal from Germany's Vorwerk

• Wipro has won a five-year strategic deal to manage and transform the IT landscape of German diversified group Vorwerk.
• Under the agreement, Wipro will modernize Vorwerk's IT infrastructure using AI-powered solutions to enhance operational efficiency and cybersecurity.
• This deal strengthens Wipro's presence in the competitive European market.

Bharat Electronics Bags Multiple Defence Orders

• Navratna defence PSU Bharat Electronics Ltd (BEL) has secured several new orders from the Ministry of Defence.
• The contracts cover the supply of various systems including radars, electronic warfare suites for helicopters, tank sub-systems, and communication products, bolstering its order book.

HDFC Bank Penalized by RBI for Regulatory Violations

• The Reserve Bank of India (RBI) has imposed a monetary penalty on HDFC Bank for non-compliance with certain regulatory norms.
• The violations were related to KYC guidelines, irregularities in loan disbursement, and delayed regulatory reporting.
• While the financial impact of the penalty is not substantial for the bank, it highlights compliance issues and could lead to increased regulatory scrutiny.