🇮🇳 India Daybook: BEL Bags ₹648 Cr Orders, Oil India Plans ₹150 Billion Deepwater Capex

📍 ORDER WINS

• Bharat Electronics Ltd (BEL): The state-run defense electronics major has bagged additional orders valued at ₹648 crore since August 26. The contract wins include laser-based infrared jammers, communication equipment, cybersecurity systems, thermal imagers, AI-based software, TR modules, spares, and upgrade services.

📍 CAPITAL EXPENDITURE & INVESTMENTS

• Oil India Limited: The upstream energy company announced a planned capital expenditure of ₹150 billion (₹15,000 crore) over the next three years to scale up deepwater and ultra-deepwater exploration projects in India. The PSU is also set to begin potash drilling at the Hanumangarh block in Rajasthan.

📍 PARTNERSHIPS & JOINT VENTURES

• Wipro: The IT services major entered into a strategic collaboration with Saudi Aramco and SAP to roll out Wipro STO360, an enterprise solution built to optimize shutdown, turnaround, and outage (STO) procedures for asset-heavy industries.
• NLC India & PTC India: NLC India Renewables Ltd (NIRL) and PTC India Limited incorporated a joint venture named NIRL PTC Renewables Limited. The JV, featuring a 74:26 equity participation between NIRL and PTC India, is targeted at setting up green power projects nationwide.
• Petronet LNG: The board approved a 50:50 joint venture with Gruner Renewable Energy to develop 10 compressed biogas (CBG) plants with an aggregate capacity of 180 tonnes per day, entailing a capital outlay of ₹1,200 crore.

📍 ACQUISITIONS & DISPOSALS

• Share India Securities: The company acquired a 100% equity stake in Enshrine Leasing for an aggregate cash consideration of ₹39.7 crore.
• SEAMEC: The maritime services firm concluded the formal sale transaction of its bulk carrier vessel, Seamec Gallant.

📍 FUND RAISING & CAPITAL ACTIONS

• Federal Bank: The lender’s board approved the establishment of an offshore Medium-Term Note (MTN) programme of up to $500 million, covering issuances of foreign currency bonds.
• Responsive Industries: Decided against proceeding with its proposed share buyback program for now, citing prevailing global economic uncertainty and conditions in its overseas export markets.
• Motisons Jewellers: Approved the redemption of 50 lakh non-convertible redeemable preference shares.

📍 MANAGEMENT & CORPORATE DEVELOPMENTS

• PB Fintech: The parent company of Policybazaar issued a clarification firmly denying market speculation regarding the resignation of Chairman, Executive Director, and Group CEO Yashish Dahiya, confirming he will remain in his leadership role.
• NLC India: Appointed Dr. Prasanna Kumar Acharya, Director (Finance), as the company's new Chairman and Managing Director (CMD).
• Avenue Supermarts (DMart): Expanded its operational footprint by opening a new store in Narayanpur, Dharwad (Karnataka), taking the retailer's total store count to 510.

📍 EARNINGS & RESULTS

• Skyways Air Services: Delivered a strong operational performance with quarterly revenue surging 93.1% YoY to ₹1,217 crore. EBITDA rose to ₹49.9 crore from ₹18.3 crore (margin up at 4.1%), while Net Profit reached ₹19.7 crore compared to ₹6.8 crore in the corresponding period last year. The company also named Yashpal Sharma as Chief Executive Officer.

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