🇮🇳 India Daybook: Jaiprakash Associates Delists, RVNL Bags ₹968 Cr Order

📍 DELISTING & MERGER

• Jaiprakash Associates (JAL): The company’s equity shares will be delisted from both the BSE and NSE effective today, June 18, 2026. This follows the NCLT-approved resolution plan where the Adani Group acquired the firm via the insolvency process. Existing equity shareholding is expected to be wiped out without compensation.
• Gujarat Energy (formerly Gujarat Gas): Trading begins today for 62.27 crore newly allotted equity shares following the composite scheme of amalgamation involving GSPC, GSPL, and GSPC Energy.

📍 ORDER WIN

• Rail Vikas Nigam (RVNL): The company has secured a Letter of Acceptance (LoA) from East Coast Railway for the construction of a major bridge, with the contract valued at ₹967.92 crore.
• HFCL: Awarded a significant contract worth ₹2,666.09 crore by Rail Vikas Nigam for the BharatNet Phase-III project in the Uttar Pradesh telecom circle.
• RailTel Corporation of India: Received a Letter of Intent from the Director of IT for a project with an estimated order size of ₹52.56 crore.
• Waaree Renewable Technologies: Secured an additional commercial order for an existing solar project, increasing the total contract value by ₹31 crore to ₹1,045 crore.
• Kirloskar Ferrous Industries: Won an international export order worth $13.51 million (approx. ₹113 crore) to supply 30,000 MT of basic grade Pig Iron to a London-based buyer.

📍 USFDA APPROVAL / PHARMA

• Lupin: Announced the launch of Azilsartan Medoxomil Tablets (40 mg and 80 mg) in the United States following final USFDA approval. The company also recently received nods for generic Sutab tablets and an interchangeable biosimilar for Ranibizumab.
• Alembic Pharmaceuticals: Received USFDA final approval for Haloperidol Tablets USP in five different strengths, targeting the CNS generics market in the U.S.
• Aurobindo Pharma: The USFDA has classified its Eugia Pharma Specialities Unit-III as "Official Action Indicated" (OAI) following 11 observations, which may delay upcoming product approvals from this facility.

📍 STRATEGIC PARTNERSHIP & INVESTMENT

• TCS: Signed a multi-year partnership with Norway’s Elopak ASA to modernize its global IT operations using AI-enabled platforms and cloud technologies.
• HCL Tech: The company is in focus following reports of a strategic investment in Sarvam AI to bolster its artificial intelligence capabilities.
• Mahindra & Mahindra: Diluted its stake in Mahindra Summit Agriscience to 58.8% following a fresh subscription by Summit Agro International.

📍 APPOINTMENT & LEADERSHIP

• Balkrishna Industries (BKT): Mr. Saroj Kumar Khuntia officially takes charge as the Chief Financial Officer (CFO) today, June 18, succeeding Mr. Madhusudan Bajaj.

📍 FUND RAISING & OFS

• Bosch Home Comfort India: Promoter Bosch Global Software Technologies is launching an Offer for Sale (OFS) to sell up to 19.64 lakh shares (7.22% stake) in the company.
• Sterlite Technologies: Received board approval to raise funds through a Qualified Institutional Placement (QIP).
• Sumeet Industries: Rights issue of approximately ₹199.75 crore opens today for eligible shareholders at a price of ₹11.86 per share.

📍 CAPEX & EXPANSION

• Endurance Technologies: Approved a capital expenditure of ₹47.30 crore to set up a greenfield manufacturing plant in Pune for lithium battery packs.
• Lemon Tree Hotels: Announced the opening of a new property in Sri Ganganagar, marking its 23rd hotel in the state of Rajasthan.

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