🇮🇳 India Daybook: GE Shipping Approves ₹900 Cr Buyback, BEL Bags Major Defence Order

📍 BUYBACK

• Great Eastern Shipping: The board has approved a buyback of shares worth up to ₹900 crore at a maximum price of ₹1,530 per share. The buyback represents approximately 4.12% of the company's total equity.

📍 ORDER WIN

• Bharat Electronics (BEL): The state-run defence firm has secured new orders worth ₹730 crore for the supply of advanced defence electronics and communication equipment.
• GK Energy: The company received a major empanelment for rooftop solar installations covering 1 lakh households, significantly boosting its renewable energy portfolio.

📍 ACQUISITION

• Adani Enterprises: Its joint venture, AdaniConneX, has acquired a 100% stake in Chandenvalle Infra Park (CIPL) from Adani Power for a total consideration of ₹536 crore to expand its data center footprint.

📍 PARTNERSHIP & AGREEMENTS

• Hindustan Aeronautics (HAL): The company signed a formal agreement with SAFHAL Helicopter Engines to jointly develop "Aravalli," a new high-power engine for indigenous heavy-lift helicopters.
• Wipro: The IT major has expanded its strategic partnership with Google Cloud to accelerate the adoption of Gemini Enterprise and Agentic AI solutions across global enterprises.

📍 MANUFACTURING & EXPANSION

• Godrej Consumer Products: The FMCG giant inaugurated its fourth manufacturing unit at Malanpur, Madhya Pradesh, with an investment exceeding ₹480 crore. The facility is expected to generate ₹3,800 crore in annual turnover once fully operational.
• Samvardhana Motherson: Its subsidiary, Motherson Electro Components (MECL), has officially commenced operations at a new state-of-the-art manufacturing facility in Pune, Maharashtra.
• Thomas Cook India: Its arm, Sterling Holiday, announced the opening of a new luxury resort in Uttarakhand, continuing its aggressive expansion in the domestic hospitality sector.

📍 BULK / BLOCK DEALS

• Apollo Tyres: Emerald Sage Investment offloaded 2.70 crore shares at ₹435 per share. Major buyers included ICICI Prudential Mutual Fund and SBI Life Insurance.
• DCB Bank: Oman India Joint Investment Fund II sold 37 lakh shares of the private lender at an average price of ₹217.01 per share in the open market.

📍 OTHERS

• New India Assurance: The company received a substantial income tax refund amounting to ₹781 crore for the assessment year 2022-23.
• LIC: The insurance behemoth has subscribed to a ₹5,000 crore Non-Convertible Debenture (NCD) issue by Bajaj Finance.
• Mahindra Lifespace Developers: The company has entered into an agreement to sell its stake in four associate companies for approximately ₹80 crore.
• RPP Infra Projects: The company informed exchanges that a work order in Tamil Nadu valued at ₹206 crore has been terminated.

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