🇮🇳 India Daybook: JSW Steel Inks ₹4,051-Cr Deal, Alembic Pharma Bags USFDA Nod

📍 ACQUISITIONS & EXPANSION

• JSW Steel: Jsquare Electrical Steel Nashik, a wholly owned subsidiary of JSW JFE Electrical Steel (an equal JV between JSW Steel and JFE Steel Corporation), entered into a definitive share purchase agreement to acquire a 100% equity stake in Thyssenkrupp Electrical Steel India (tkES India) for a consideration of ₹4,051.4 crore.
• Godrej Properties: The company announced the acquisition of approximately 3 acres of prime land in Vastrapur, West Ahmedabad. The project holds an estimated development potential of 0.9 million square feet with an expected booking value of nearly ₹1,300 crore.
• Dodla Dairy: The company finalised the purchase of a 35.23-acre land parcel located in Dharashiv, Maharashtra, dedicated to establishing a new manufacturing plant.

📍 REGULATORY APPROVALS

• Alembic Pharmaceuticals: The drugmaker received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Diltiazem Hydrochloride extended-release capsules (120 mg, 180 mg, and 240 mg), prescribed in the treatment of hypertension.
• JM Financial: The Reserve Bank of India (RBI) lifted the regulatory restrictions imposed on its major subsidiary, JM Financial Products. The subsidiary has been cleared to resume regular lending activities against shares and debentures with immediate effect.

📍 EARNINGS & FINANCIAL RESULTS

• Tech Mahindra: The IT major posted a sharp 153.1% year-on-year surge in consolidated net profit to ₹1,250 crore for Q2, up from ₹493.9 crore in the year-ago period, buoyed by asset sales, non-American market expansion, and strong BFSI demand. Revenue rose 3.49% YoY to ₹13,313.2 crore.
• HDFC Bank: India's largest private sector lender recorded a 5.3% YoY increase in standalone net profit to ₹16,821 crore for the July–September quarter, driven by a 10% rise in Net Interest Income (NII) to ₹30,110 crore.
• ICICI Lombard General Insurance: The non-life insurer reported a 20.2% YoY rise in net profit to ₹694 crore for Q2, supported by a 10.4% increase in Gross Direct Premium Income (GDPI) to ₹6,721 crore.

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