Coal India has signed a pact to explore urea production through coal gasification-derived syngas at Sindri, Jharkhand, partnering with Hindustan Urvarak & Rasayan to examine feasibility. KPI Green Energy received a ₹2,025 crore work order from NACOF Oorja for a turnkey 500 MW/550 MWp solar photovoltaic project. Coforge appointed former Bharti Enterprises vice-chairman Akhil Kumar Gupta as chairperson and non-executive independent director for five years, effective Tuesday. Tata Steel acquired shares of T Steel Holdings Pte. Ltd. worth ₹3,260.32 crore, with TSHP continuing as a wholly owned subsidiary.
ESDS Software reported challenging Q1 results with net profit declining 56.6% to ₹29.3 crore compared to ₹67.4 crore in the previous quarter. Revenue decreased 20.2% to ₹133.7 crore from ₹167.5 crore quarter-on-quarter, while EBIT fell 56.1% to ₹37.5 crore. The company's EBIT margin compressed significantly to 28.1% from 51% in the previous quarter.
Aurobindo Pharma faced regulatory challenges as the Telangana GST appellate authority upheld a demand for reversal of excess input tax credit amounting to ₹4.60 crore. Lloyds Enterprises and two senior executives settled a SEBI case related to alleged fraudulent activities and disclosure lapses after paying ₹4.16 crore in settlement charges. Piramal Pharma received GST authorities' order over an alleged wrongful input tax credit claim exceeding ₹4 crore for FY2020-21 to FY2022-23. JSW Cement received a GST show-cause notice for ₹229.85 crore demand, plus interest and 10% penalty for FY22-FY24 period.
Nuvoco Vistas Corp and Clean Max Enviro Energy Solutions joined hands to develop a 46.4 MW hybrid renewable energy project in Rajasthan. HCL Technologies announced that its software arm will acquire Croatia-based enterprise RPA platform provider Robotiq.ai in an all-cash deal valued at 9 million euro (about ₹98 crore). Natco Pharma increased its proposed investment in US-based biotechnology firm eGenesis Inc to USD 16.70 million, from the previously disclosed USD 14 million. JSW Cement approved the merger of its arm Shiva Cement with the company.
Aditya Birla Sun Life AMC launched the Aditya Birla Sun Life BSE Total Market Index Fund and BSE Total Market ETF. Fortis Healthcare will be watched after Malaysia-based IHH Healthcare outlined plans to increase its stake to 51% over three to five years and expand capacity to 10,000 beds by 2031. GMDC appointed Ajay Bhadoo as managing director, effective Wednesday, with Roopwant Singh ceasing to be MD from the same date. SBI Funds Management appointed Amol Joshi as chief financial officer, effective October 1, with Inderjeet Ghuliani retiring as CFO on September 30.
