EVENING BULLETIN 🚦 Date: 25-Feb-2025 --- 📍 *Order Wins* - *GENSOL ENG*: Plans to sell its US subsidiary, Scorpius Trackers, for ₹350 crore, transferring global IP rights (except India) to a US renewable firm. Proceeds will be redeployed to expand Scorpius' operations in India and support Gensol’s clean energy initiatives. - *PONNI SUGAR*: Wins ₹4.6 crore bid for a 50 TCD jaggery unit in Erode from Canara Bank under SARFAESI, aiming for product diversification. - *JYOTI STRUCTURES*: Wins ₹389.36 Cr contract from Adani for the 765 kV DC transmission line project (Boisar-Pune), with an 18-month timeline for completion. - *ZAGGLE PREPAID*: Wins an agreement with Honasa Consumer Limited to provide the Zaggle Zoyer Platform. - *POWER MECH*: Secures ₹165 Crore order from Bharat Heavy Electricals Ltd. (BHEL) for EPC works at DVC Koderma TPS Phase-II. - *FAALCON CONCEPT*: Wins ₹1.74 crore order. - *BHAGYANAGAR IND*: Wins ₹245 crore order for a 53 MW solar project in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, with an 18-month timeline. - *CLN ENERGY*: Wins $5M (₹43 Cr) export order for lithium-ion batteries from a Singapore MNC. --- 📍 *Acquisitions* - *CAMLIN FINE*: To acquire 78.68% of Vinpai at €3.60 per share, and invest €3.3M in convertible bonds, increasing its stake to 83.82%. - *TATA MOTORS*: Board approves IPO of equity shares, with a fresh issue of up to 23 Cr shares and OFS by existing shareholders. - *TATA MOTORS*: "Tesla rival" Avinya electric SUV expected to be priced around ₹25 lakh, as per sources. --- 📍 *Leadership Changes* - *PRISM JOHNSON*: Mr. Anil Suresh Kulkarni, Executive Director & CEO (RMC), resigns effective February 28, 2025, for career growth. --- 📍 *New Projects* - *MARUTI SUZUKI*: Commissions Phase I of its manufacturing facility at Kharkhoda, Haryana, with a capacity of 250,000 units per annum. - *TEERTH GOPICON*: Signs ₹1,500 crore MOU with the MP govt. for 3 GW Topcon solar module & cell manufacturing. - *TATA POWER*: Signs an MoU with Assam Government to develop and tie up to 5000 MW of renewable energy with ₹30,000 crore investment. --- 📍 *Collaboration & Partnerships* - *BHARTI AIRTEL*: Partners with Ericsson for 5G Core technology to drive the evolution of 5G, covering packet core, signaling, charging, and policy solutions. - *VENUS REMEDIES*: Secures exclusive in-licensing rights from Infex Therapeutics to develop and commercialize MET-X in India. - *VAKRANGEE*: Announces strategic tie-up with Aditya Birla Health Insurance to offer health insurance products. - *GODAVARI POWER*: GPIL signs ₹50 crore loan agreement to fund Deccan Gold Mines Limited (DGML)'s Altyn Tor Gold Project in Kyrgyzstan. --- 📍 *Miscellaneous* - *JUBILANT FOODWORKS*: Chairman Shyam Sundar Bhartia clarifies FIR allegations, calling them baseless, with full cooperation pledged for investigation. - *RATTANINDIA ENT*: Revolt Motors unveils the all-new RV BLAZEX. - *LEMON TREE*: Signs a new property in Shirdi, Maharashtra, to be managed by Carnation Hotels. Operations start in FY 2028. - *TV TODAY*: Board approves an MoU with Creative Channel for the proposed sale of its FM radio business (104.8 FM in Mumbai, Delhi, and Kolkata) for ₹20 crore. - *VIP CLOTHING*: Unveils exclusive Frenchie X collection at INTIMASIA 2025, with a rollout across key cities after the event. --- 📍 *US FDA Updates* - *GLAND PHARMA*: US FDA conducts a Pre-Approval Inspection (PAI) for Sterile APIs at the Visakhapatnam facility, resulting in three procedural Form 483 observations. Corrective actions will be submitted. - *DR REDDY'S*: US FDA issues an establishment inspection report for the company’s API Manufacturing Facility (CTO-2) in Bollaram, Hyderabad, and classifies the inspection as Voluntary Action Indicated (VAI). --- 📍 *Fundraising* - *CONSOLIDATED CONSTRUCTION*: Plans to issue equity shares aggregating ₹50 crore on a preferential basis at ₹17.50 per share. - *KESORAM IND*: Board approves the Composite Scheme of Arrangement with UltraTech Cement, effective March 1, 2025. Record date set for March 10, 2025. --- 📍 *Regulatory Updates* - *NBCC*: Intimates appointment as Project Management Consultant for 16 Supertech Ltd. projects; NCLAT orders stay until 01-Apr-2025. - *EPFO*: December 2024 payroll data shows a net addition of 16.05 lakh members, reflecting better employment and awareness. --- 📍 *Other Updates* - *HEXAWARE*: Clarifies on news reports regarding its exploration of growth opportunities but has no material updates for disclosure. - *POLYCAB & KEI IND*: UltraTech Cement plans to enter the wires and cables segment with a ₹1,800 crore investment over two years, with a new plant set for completion by December 2026. --- Stay Updated 🚦