IndusInd Bank

The bank has received a report from an external agency identifying discrepancies related to derivative deals. The report has quantified the negative impact of these derivative deals, as of June 2024, at Rs 1,979 crore. The agency has assessed an adverse impact (on a post-tax basis) of 2.27% on the bank’s net worth as of December 2024 due to these discrepancies. The bank will appropriately reflect the resultant impact in the financial statements for FY25 and will continue to take suitable steps to strengthen internal controls related to derivative accounting operations.

Swiggy

The food delivery company has signed a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment to enhance gig and logistics employment opportunities on the National Career Service (NCS) portal, aiming to create over 12 lakh job opportunities over the next 2–3 years.

Aster DM Healthcare

The Competition Commission of India (CCI) has approved the proposed merger of Quality Care India (QCIL) into Aster DM Healthcare via a scheme of amalgamation. Post-merger, Aster will be renamed Aster DM Quality Care. Prior to the merger, Aster will acquire a 5% stake in QCIL from BCP Asia II TopCo IV Pte Ltd and Centella Mauritius Holdings in exchange for a primary share issuance by Aster. The existing shareholders of QCIL—Centella, BCP, and certain minority shareholders—are proposed to hold a stake in the merged entity, with Centella holding less than 10% without any control rights.

Vedanta

Cairn Oil & Gas has acquired 7 new blocks in the Open Acreage Licensing Policy (OALP) Round IX auction. These newly awarded blocks include 4 onshore and 3 shallow water blocks located in the hydrocarbon basins of Cambay, Saurashtra, and Mumbai. With this addition, Cairn’s portfolio now comprises 69 blocks across the country.

Oil India

The company has secured 9 blocks under OALP Round IX, adding over 51,000 sq. km to its exploration portfolio—6 blocks as the sole operator and 3 as a consortium partner. With this addition, OIL’s total exploration acreage has increased from 60,000 sq. km to 110,000 sq. km, registering an 85% growth.

Mahanagar Gas

The allocation of Administrative Price Mechanism (APM) natural gas to the company has been reduced by 18%, effective April 16, compared to the previous fortnight’s allocation. The reduced APM volume is being replaced with New Well/Well Intervention Gas (NWG). This reduction in APM gas allocation is expected to adversely impact profitability. However, the company is exploring all measures to mitigate the impact.

Tata Consultancy Services

The Andhra Pradesh government has allotted 21.16 acres of land in Visakhapatnam to Tata Consultancy Services (TCS) for a symbolic price of just 99 paisa. According to sources, TCS plans to invest Rs 1,370 crore in its Vizag unit and create 12,000 jobs.

Gensol Engineering

The Securities and Exchange Board of India (SEBI) has barred promoter brothers Anmol Singh Jaggi and Puneet Singh Jaggi from holding any directorship or key position in Gensol Engineering (GEL) or any other entity. Both GEL and the Jaggi brothers have been prohibited from accessing the securities market. In an interim order, SEBI Whole Time Member Ashwani Bhatia also directed GEL to put its planned stock split on hold. SEBI will appoint a forensic auditor to examine the books of accounts of GEL and its related parties. The forensic auditor must submit the report within six months of appointment.

Max India

The Board has approved raising funds of up to Rs 125 crore through the issuance of equity shares via a rights issue.

NHPC

After the successful completion of its trial run, NHPC has declared the commercial operation (COD) of Unit-4 (200 MW) of the Parbati-II HE Project (4x200 MW) in Himachal Pradesh. The commercial operation of Unit-1, Unit-2, and Unit-3 (200 MW each) was already declared on April 1.

Dabur India

Dabur International FZE, a step-down wholly owned subsidiary of Dabur India, has decided to incorporate a new entity in the UK. This new entity will also be a step-down wholly owned subsidiary of Dabur India and will engage in the sales and distribution of FMCG products.

Lemon Tree Hotels

The company has signed a license agreement for a hotel property—Lemon Tree Resort—in Mori Bera, Rajasthan. The property will be managed by its subsidiary, Carnation Hotels, and is expected to commence operations in FY27.

Adani Total Gas

The Nodal Agency, GAIL (India), has reduced the allocation of APM-priced domestic gas to the company by 15%, effective April 16. This reduction is being offset by the supply of New Well Gas (NWG). However, the higher cost of NWG and lower APM gas allocation are expected to adversely impact the company’s profitability. The company is exploring all possible measures to mitigate the impact.

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