RITES

The company has been appointed as the project management consultant for the execution, supervision, monitoring, and development of the Phase II campus of the Indian Institute of Management Raipur (Chhattisgarh) project, on a cost-plus basis, by the Indian Institute of Management Raipur. The project is worth Rs 148.25 crore.

Canara Bank

The Reserve Bank of India has given its approval to Canara Bank to divest its shareholding in Canara Robeco Asset Management Company and Canara HSBC Life Insurance Company by 13% and 14.5%, respectively, through an initial public offer (IPO). Furthermore, the bank must adhere to the October 31, 2029, timeline for reducing its stake in these entities to 30%. Following RBI approval, Canara Bank will initiate the IPO process.

FSN E-Commerce Ventures (Nykaa)

Nihir Parikh has resigned as CEO of Nykaa Fashion.com, effective December 5, due to personal commitments.

Shriram Pistons & Rings

The company has executed a renewal of its technical collaboration agreement with Fuji Oozx Inc, Japan, for five years, effective December 5.

Cummins India

Ajay Shriram Patil has resigned as Chief Financial Officer of the company due to personal reasons, effective January 9, 2025.

Dr Reddy’s Laboratories

The company's step-down wholly owned subsidiary, Dr. Reddy’s Laboratories Kazakhstan LLP, has received a penalty order of KZT 17,597,212 (Rs 2.87 million) from the Department of State Revenue, Bostandyk, Kazakhstan, for disallowance of claim of certain expenses by the tax authorities for CY 2021.

Waaree Energies

The solar PV module manufacturer has secured NABL accreditation for its PV module testing lab at the module manufacturing facility in Chikhli, Gujarat.

Ola Electric Mobility

The company has received further communication from the Central Consumer Protection Authority (CCPA), requesting additional documents and information in relation to its previous response. The CCPA has provided a 15-day timeline for submitting the required information. Ola Electric had received a Show Cause Notice from the CCPA in October.

Afcons Infrastructure

Afcons Infrastructure has completed the longest tunneling drive between the Tughlakabad Airforce Launching Shaft and Maa Anandmayee Marg Station on the Tughlakabad-Aerocity corridor, for the Delhi Metro Rail Corporation (DMRC) as part of the Delhi Metro Phase IV project.

Ramco Systems

Aviation software specialist Ramco Systems has entered into a partnership with Hanjin Information Systems & Telecommunication Co (HIST), a leading ICT services company and a subsidiary of the Hanjin Group, Korea. The partnership will enable aviation organizations headquartered in Korea to digitally transform their M&E and MRO operations.

Garden Reach Shipbuilders & Engineers

The company has signed a contract for the construction and delivery of the second ship from a series of four additional 7,500 DWT multi-purpose vessels in Germany. In September, the company had secured an order for the construction and delivery of four additional multi-purpose vessels of 7,500 DWT each

Subex

The company's subsidiary, Subex Account Aggregator Services, has surrendered its Account Aggregator license to the Reserve Bank of India.

Spandana Sphoorty Financial

Rating agency ICRA has reaffirmed its A+ (Negative) rating on Spandana Sphoorty’s long-term fund-based term loan and non-convertible debentures. However, the outlook has been revised to negative from stable, citing deterioration in asset quality and profitability in H1 FY25, with an expected weak overall performance in the near term.

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