Gensol Engineering on Friday said its promoters sold 9 lakh shares or 2.37 per cent of the total equity shares of the company to unlock liquidity that would be reinvested in the business via equity infusion. This step is part of a strategy aimed at reinforcing the company’s balance sheet and supporting stability, it said.
Indian Renewable Energy Development Agency Ltd. IREDA, said the RBI has not acceded to the company’s request to make an equity investment to develop and implement the 900 MW Upper Karnali Hydro Electric Power Project in Nepal. However, the company will make a representation to the RBI again, it said in the statement. The Upper Karnali Hydro Electric Power Project is a joint venture between IREDA, GMR Energy, GMR Power & Urban Infra, GMR Lion Energy, NEPAL Electricity Authority, and another state-run company SJVN Ltd.
Religare Enterprises Ltd (REL) has withdrawn its appeal at the National Company Law Appellate Tribunal (NCLAT) against a Competition Commission of India (CCI) order that allowed four Burman family controlled entities to acquire a 5.27 per cent stake in the financial services firm. The move comes after the Burman family, through its investment firms, gained a controlling stake in REL after acquiring 25.16 per cent of equity shares through an open offer. The total holding of the Burman family now exceeds 50 per cent, consolidating their position as the largest shareholders in REL
The Union Government has named private sector consultant Vikas Kaushal the chairman and managing director of Hindustan Petroleum Corporation (HPCL) for five years, according to an official order. He succeeded Rajneesh Narang, director (finance), who has handled additional charge of CMD since September 1, 2024.
RailTel Corporation of India Ltd has received a work order from Northern Railway for ₹28,29,14,088 (including tax).
Biocon Biologics Ltd. (BBL), a fully integrated global biosimilars company and subsidiary of Biocon Ltd, has announced the successful results of a pivotal Phase 3, randomised, double-blind, parallel group, multi-centre study comparing Yesintek (Biocon Biologics’ biosimilar to Ustekinumab, called YESINTEK) with reference product Stelara (Ustekinumab) in adult patients with moderate to severe chronic plaque psoriasis (PsO). The data will be presented at the 2025 American Academy of Dermatology (AAD) Annual Meeting in Orlando, Florida.
Fintech firm Infibeam Avenues Ltd’s UAE subsidiary has reorganised its shareholding structure ahead of its listing to amplify a digital payment strategy, it said in a stock exchange filing. The reorganisation involves transferring the mirror shareholding in Avenues World FZ-LLC to its newly incorporated Abu Dhabi entity, Infibeam Avenues ME SPV Ltd.
Tata Power Renewable Energy Ltd (TPREL) and the Andhra Pradesh government have signed an agreement to develop up to 7 gigawatts (GW) of renewable energy projects, which will entail investments of around ₹49,000 crore. Under this agreement, opportunities will be explored to jointly develop solar, wind, and hybrid projects with or without storage solutions, TPREL said.
Premier Explosives has incorporated a joint venture company Global Premier Ltd. It signed an Memorandum of Understanding with Global Munition Ltd, a subsidiary of NmE Ordnance and Maritime Limited (NmE Group Company), to launch a subsidiary.
IRB Infrastructure has reported an 18 per cent year-on-year rise in toll revenue to ₹528.7 crore in February. Its revenues from the toll collection business stood at ₹462.2 crore in the same month last year, IRB said in an exchange filing. Out of its 17 tolls, the IRB MP Expressway in Maharashtra contributed the major share of ₹140.9 crore to total revenue collection in February, followed by the IRB Ahmedabad-Vadodara Super Express Tollway (₹63.9 crore), it added.
Medicamen Biotech Ltd (MBL) has entered into an understanding with a prominent South African business conglomerate for registering and marketing its products in the region. South Africa represents a $4-billion pharmaceutical market and is categorised as a regulated market. The recent EU approval of MBL’s plant has opened new avenues to explore such opportunities, aligning with the company’s strategic vision of global expansion, it said.
Coal India has entered into a pact with Indian Institute of Technology, Hyderabad to develop clean coal technologies. CIL’s management has green-flagged a grant of ₹98 crore to IITH for a duration of five years for setting up this Centre of Excellence. It is anticipated that the project will be financially self-sustainable beyond the initial five-year funding received from CIL.
JSW Steel reported consolidated crude steel production for February’25 at 24.07 lakh tonnes. Consolidated production was higher by 12 per cent YoY. Capacity utilisation for February’25 at the Indian operations was 93.5%.
The United States Food and Drug Administration (USFDA) has conducted an inspection at Alembic Pharmaceutials’ Bioequivalence Facility at Vadodara from March 3 to March 7. This was a scheduled inspection. The USFDA issued a Form 483 with one procedural observation. The company will provide a comprehensive response to USFDA for the observations within the stipulated period.
Shilpa Medicare informed the exchanges that the United States Food and Drugs Administration (USFDA) has conducted an inspection at Unit-1 of Shilpa Pharma Lifesciences Ltd, Raichur from March 3-7, 2025. On conclusion of the inspection, it received one observation in form 483, which is procedural in nature. The company will closely work with the agency and remain committed to address this observation comprehensively within the stipulated time.
Oriental Rail Infrastructure Ltd has entered into the Vande Bharat segment and accordingly has secured its First Order worth ₹42,89,14,008.64/V from ‘Rail Coach Factory (RCF), Kapurthala ,
The board of Dishman Carbogen Amcis Ltd is scheduled on March 12, inter alia, to consider and approve the proposal for fund raising by way of issuance of Non-Convertible Debentures, by way of private placement, subject to regulatory or statutory approvals as may be required.
