🇮🇳 India Daybook: Rama Steel Tubes Expands Globally, Astra Microwave Bags IMD Order
Published: 2025-12-12 07:15 IST | Category: Markets | Author: Abhi
📍 ACQUISITIONS & DIVESTMENTS
- Rama Steel Tubes: The company announced the joint acquisition of UAE-based engineering and industrial services conglomerate, Automech Group Holding Limited, for AED 296 million (approximately ₹728 Crore). This decision was approved by the company's board on December 11, 2025.
- Kansai Nerolac Paints: The board approved the sale of its entire 60% stake in its Sri Lankan arm, Kansai Paints Lanka (Private) Ltd., to Atire (Private) Limited, a Sri Lanka-based entity.
- Tata Power: Received a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd for the acquisition of Jejuri Hinjewadi Power Transmission Ltd, a project-specific vehicle (SPV).
- Vedanta: The company has been declared the successful bidder for the Genjana nickel, chromium, and PGE (Platinum Group Elements) block under Critical Mineral Auctions Tranche III.
📍 ORDER WINS
- Astra Microwave: Secured a new work order valued at ₹171.38 Crore from the India Meteorological Department (IMD). The order is for the supply of six Klystron-based S-band polarimetric Doppler weather radars.
- NBCC (India): The company secured two project management consultancy orders. One order, worth ₹255.50 crore, is from NALCO, and another, valued at ₹33.89 crore, is from SAIL Bokaro.
📍 REGULATORY UPDATES
- Piramal Pharma: The US Food and Drug Administration (US FDA) issued a Form 483 with four observations following a Good Manufacturing Practices (GMP) inspection at the company's Lexington, Kentucky, facility, conducted between December 3 and December 10, 2025.
- GAIL: Disclosed receipt of a GST demand order of ₹143.08 Crore, including penalties, from the additional commissioner, CGST, Delhi South Commissionerate.
📍 CORPORATE ACTIONS
- Bharat Rasayan: December 12, 2025, marks the ex-date for its 1:1 bonus issue and stock split (face value from Rs 10 to Rs 5). To be eligible, investors needed to purchase shares by December 11, 2025.
- NACL Industries: December 12, 2025, is the record date for its rights issue, where eligible shareholders will receive 5 rights shares for every 31 shares held at a price of ₹76.70 per share. The total issue size is approximately ₹249.29 crore.
- Mrs. Bectors Food Specialities Ltd: The company has set December 12, 2025, as the record date for its upcoming stock split.
- VLS Finance: The buyback ex-date is December 12, 2025.
- Gujarat Natural Resources Limited: The Board of Directors is scheduled to meet on December 12, 2025, to consider a proposal for altering the company's share capital structure, specifically a stock split.
📍 BUSINESS DEVELOPMENTS
- Jindal Steel Ltd: The company announced an increase in its heat treatment capacity to 60,000 tonnes per month, positioning it as the largest player in this segment in India.
- Infosys: Completed its share buyback program, resulting in the extinguishment of 10 crore equity shares through the tender offer.
📍 FINANCIAL RESULTS
- Excelsoft Technologies Ltd: The Board of Directors will convene on December 12, 2025, to consider and approve the unaudited standalone and consolidated financial results for the September quarter and half-year ended September 30, 2025.
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