A consolidated view of market events, assembled from diverse sources.
India Pesticides Ltd has secured regulatory approvals for two pesticide products in the UK and Argentina, marking significant milestones in its international expansion strategy. The company reported a 34.82% decline in Q1 FY27 consolidated net profit to ₹22.74 crore, while achieving the ₹1,000 crore revenue milestone for FY26 with ₹1,057.42 crore in consolidated revenue.
Tata Communications' Canadian subsidiary has reached an agreement in principle with the Canada Revenue Agency to settle tax claims related to international telecommunications services, with no material financial impact expected. Separately, the parent company issued ₹400 crore worth of commercial paper with a 5.99% discount rate and October 2026 redemption date.
The Delhi High Court has quashed seven Income Tax Appellate Tribunal orders concerning Patanjali Ayurved Limited, citing serious procedural deficiencies including inconsistent hearing dates and lack of reasoning in the common order. The court directed fresh adjudication by another ITAT bench, emphasizing that the Tribunal's 'undue haste' and 'recklessness' cannot be countenanced in high-level fact-finding proceedings.
Saatvik Green Energy has secured a significant ₹1,041.63 crore order from SECI for solar PV module supply, with execution scheduled over 15 months until December 2027. This adds to the company's growing order book of 6.35 GW as of June 2026, though recent financial performance shows a 95.45% decline in Q1 net profit to ₹5.3 crore due to weak revenues.
Bharat Forge Ltd has partnered with Pratt & Whitney Canada to evaluate advanced turboprop engines for India's high-altitude, long-endurance (HALE) unmanned aerial vehicle programme under the Aatmanirbhar Bharat initiative. The collaboration combines Pratt & Whitney's proven propulsion technologies with Bharat Forge's engineering expertise to develop indigenous HALE drones for strategic surveillance missions over land and sea.
Sudarshan Pharma Industries announced that its proposal to acquire a 9.50% equity stake in US-based MedTherapy Biotechnology Inc. remains under due diligence, with confirmation and board resolution pending. The acquisition is part of the company's strategy to enter the US market and access MedTherapy's existing customer base and distribution network.
Mumbai-based Blue Star Ltd announced that W.J. Towell & Co LLC has filed an appeal with the Dubai Court of Appeal seeking to annul an arbitration award that dismissed all claims against the company. The appeal relates to a 2015 shareholders' agreement dispute, while Blue Star continues to face margin pressure from rising raw material costs despite price increases.
Purple Style Labs has approved a ₹420 crore investment in its wholly owned subsidiary PSL Retail through a rights issue at ₹10 per share, to be funded from IPO proceeds. The investment will be used for lease liabilities of experience centres and back-end offices, with the transaction scheduled for completion between September 19-25, 2026.
Dr Reddy's Laboratories has launched NIVORZ, a biosimilar to Bristol Myers Squibb's nivolumab (Opdivo) cancer drug, in India following DCGI approval. The company developed and manufactured the drug entirely in-house at its Hyderabad facility, with clinical trials involving 288 patients showing comparable efficacy to the reference product across 12 cancer indications.
The Delhi High Court's Intellectual Property Division is examining whether a dispute between Gillette India and Bombay Shaving Company (BSC) over BSC's Switch4 advertising campaign falls within its jurisdiction. Justice Jyoti Singh questioned whether mere disparagement of a brand without direct intellectual property infringement should be heard by the IPD, while expressing concerns about repeated advertising disputes between the companies.