🇮🇳 India Daybook: Texmaco Rail Bags Hindalco Order, HDFC Bank Wins Bahrain Court Ruling — September 11, 2026

📍 ORDER WINS & CONTRACTS

• Texmaco Rail & Engineering: Secured an order valued at ₹27.82 crore from Hindalco Industries to manufacture and supply one Bogey Tank and Petroleum (BTAP) rake along with one brake van for the Aditya Expansion Project. The contract is slated for execution within eight months.
• Hindustan Zinc: Inked a six-year transportation contract with MFL India Limited (extendable by two years) for the deployment of 30 electric trucks. The EV fleet will move zinc and lead concentrate from the Rampura Agucha mine to smelters across Rajasthan, supported by dedicated EV charging infrastructure.

📍 LITIGATION & REGULATORY

• HDFC Bank: The Bahrain High Civil Court issued favorable judgments dismissing the final two claims related to alleged Credit Suisse Additional Tier-1 (AT1) bond mis-selling. With this ruling, all seven cases filed against the private lender in Bahrain stand officially dismissed due to insufficient evidence of loss.
• Godrej Properties: Formally settled long-standing disputes with Orris Infrastructure regarding the Godrej Air project in Gurugram, following an order by the Bombay High Court. The estimated financial impact of the settlement agreement stands at approximately ₹70 crore.

📍 FUNDRAISING & CAPITAL MARKETS

• Poonawalla Fincorp: The company's board approved the issuance of secured, redeemable, rated, and listed Non-Convertible Debentures (NCDs) worth up to ₹2,000 crore via private placement, featuring a base issue size of ₹100 crore and a green-shoe option of ₹400 crore.
• Vodafone Idea: A consortium of domestic lenders led by State Bank of India (SBI) agreed to provide around $3.5 billion in debt financing to support the telecom operator's operational revival and network rollout.

📍 CORPORATE ACTIONS & RESTRUCTURING

• Responsive Industries: Announced that its Board of Directors will convene on September 17, 2026, to review and consider a proposal for the buyback of the company's equity shares.
• The Phoenix Mills: Completed the National Company Law Tribunal (NCLT)-approved merger and amalgamation of six of its subsidiary entities into Astrea Real Estate Developers.

📍 BUSINESS PARTNERSHIPS & EXPANSIONS

• KIMS (Krishna Institute of Medical Sciences): Entered into an exclusive Operations and Management (O&M) Agreement with Sarvottam Health Care for an initial tenure of five years (extendable by an additional five years). KIMS will manage and operate the facility for a management fee equivalent to 9% of total net revenues.
• Sterlite Technologies (STL): Launched specialized plenum-rated optical fibre trunk assemblies tailored for high-density AI data centers, securing US OFNP certification for its 48F to 576F ribbon assembly lineup.
• Fino Payments Bank: In its operational update for August, the bank reported a 12% year-on-year increase in average deposits to ₹2,821 crore, while loan referral disbursements jumped 367% to ₹243 crore.

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