🇮🇳 India Daybook: Adani Ent Completes JAL Buyout, Central Bank OFS Opens

📍 ORDER WIN

• Aurionpro Solutions: The company announced securing a significant contract in the United States for its transit business, marking a major milestone in its international expansion strategy.
• DEE Development Engineers: Its subsidiary has bagged a long-term contract valued at $15.3 million per annum for the supply of HRSG (Heat Recovery Steam Generator) pipe spools.

📍 ACQUISITION

• Adani Enterprises: Finalized the implementation of the resolution plan for the acquisition of Jaiprakash Associates Limited (JAL). The designated agencies confirmed the completion of the transfer on May 21, positioning the company for full integration.
• Man Industries: Announced the strategic acquisition of National Pipe Company for a total consideration of $102 million to bolster its global manufacturing presence in the pipe segment.
• Kshitij Polyline: Confirmed the completion of the Omkar Speciality Chemicals acquisition following the full payment of the consideration as per the NCLT-approved plan.

📍 EARNINGS

• Honeywell Automation: Reported a strong Q4 FY26 performance with net profit rising 14% year-on-year to ₹159.7 crore.
• Vaibhav Global: Posted a stellar 74% year-on-year jump in consolidated net profit for FY26, reaching ₹266.1 crore, supported by a 9% growth in revenue.
• RateGain Travel: Surpassed analyst estimates for Q4 profit by 9%, aided by a favorable product mix and the successful integration of the Sojern acquisition.
• LG Electronics India: Reported a net profit of ₹693 crore for the March 2026 quarter, a slight decline from ₹755 crore in the corresponding period last year.
• Orkla India: Full-year FY26 results came in largely in line with expectations, with revenues at ₹2,600 crore and statutory earnings per share at ₹20.80.
• Emami: Reported a miss on Q4 profit estimates by 8%, primarily due to escalating raw material costs and increased advertising expenditure.

📍 REGULATORY & CORPORATE ACTIONS

• Central Bank of India: The Government of India’s Offer for Sale (OFS) opens today, May 22, to sell a 4% stake. The floor price for the issue has been set at ₹31 per share.
• PI Industries: Received a key US registration for its bionematicide product; the company also confirmed plans to launch Pioxaniliprole in the Indian market later this year.
• Havells India: The stock will trade ex-dividend today following the board's recommendation of a final dividend of ₹6 per share.
• CMS Info Systems: Today marks the record date for the company's buyback of up to 49.39 lakh shares at a price of ₹340 per share.
• JSW Cement: The board has approved a capital expenditure of ₹430 crore to set up a new 2.5 MMTPA grinding capacity.
• Globe Enterprises (GEL): The company’s stock split from a face value of ₹10 to ₹5 is effective today.

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