🇮🇳 India Daybook: Dr Lal PathLabs Eyes Diagnostic Expansion, Avantel Bags ₹177-Cr Order

📍 ACQUISITIONS & STAKE SALES

• Dr Lal PathLabs: The diagnostics chain has approved the acquisition of a 70% equity stake in Gujarat-based SN Genelab Private Ltd for a consideration of up to ₹168 crore, alongside an additional earn-out of up to ₹31.5 crore, aimed at strengthening its specialized genomic and molecular testing capabilities.
• Jammu & Kashmir Bank: The lender executed an escrow agreement with MetLife International Holdings and Barclays entities to finalize the sale of its 0.5% stake in PNB MetLife India Insurance for ₹120.10 crore at ₹117.20 per share.

📍 ORDER WINS

• Avantel: The aerospace and defence equipment player received a major purchase order valued at ₹177 crore (₹1.77 billion) from Zetwerk Manufacturing Businesses Limited for the supply of satellite communication equipment, with execution slated through March 2027.
• Indo Tech Transformers: The company bagged fresh orders valued at ₹43 crore for power transformers, reinforcing its presence in renewable energy projects and high-voltage transmission segments.

📍 BUSINESS EXPANSION & OPERATIONS

• Waaree Energies: Its subsidiary, Waaree Clean Energy Solutions (WCES), announced its expansion into India's specialty gases market to supply ultra-high-purity gases and chemicals directly to domestic semiconductor fabrication and solar cell manufacturing facilities.
• Exide Industries: Wholly-owned arm Exide Energy Solutions Limited (EESL) successfully commissioned Phase-I of its 6 GWh lithium-ion battery cell manufacturing gigafactory located in Devanahalli, Bengaluru.

📍 BULK DEALS & REGULATORY FOCUS

• PB Fintech: HDFC Mutual Fund purchased 25 lakh shares of PB Fintech via an NSE bulk deal valued at approximately ₹321 crore (₹1,282.30 per share). The counter witnessed heavy institutional attention after regulatory draft proposals on insurance distribution commission caps shook market sentiment.

📍 CAPITAL RAISING & CORPORATE ACTIONS

• Transport Corporation of India (TCI): The logistics major informed the exchanges that its Board of Directors will meet on September 29, 2026, to consider a proposal for the buyback of company equity shares.
• Wheels India: The automotive component manufacturer opened its Qualified Institutional Placement (QIP) offering with the floor price set at ₹2,197.10 per share.

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