News Highly Sensitive to Stock Price: March 17

Power Mech Projects

Company received an order worth Rs 709.6 crore from Adani Infrastructure Management Services Limited. It is for Operations and Maintenance services (O&M) including overhauling at 5x660MW Thermal Power Plant at Tiroda, Maharashtra, India.

Coal

India is set to boost its power generation capacity. The government plans to add 97,000 megawatts of coal and lignite-based thermal power by 2034-35. This expansion aims to meet a projected demand of 3,07,000 megawatts. Significant progress is already underway with ongoing construction and awarded contracts for thermal projects.

Andhra Cements

Promoter Sagar Cements will sell up to 66.76 lakh equity shares of Andhra Cements (equivalent to 7.24% of the total paid-up equity) on March 17–18. The floor price for the offer will be Rs 52 per equity share.

JSW Steel Ltd.

JSW Kalinga Steel (JKSL) is set to tap the corporate debt market with its debut shorter-duration bond issue this week, as it seeks to raise as much as 95 billion rupees ($1.03 billion)

GMDC

The mining firm has signed a memorandum of understanding (MoU) with NMDCLtd to explore opportunities for collaboration in the rare earth elements (REE) sector. The partnership will focus on assessing the potential development of an integrated rare earth value chain in Gujarat, covering exploration, mining, beneficiation, processing and downstream applications.

Reliance Inds

Reliance Industries has struck a groundbreaking deal with Samsung C&T, marking a pivotal moment in environmental progress. The extensive 15-year agreement, worth over $3 billion, will kick off with the supply of green ammonia beginning in late fiscal 2029. This collaboration embodies Reliance’s ambitious move towards clean energy production, reflecting the escalating international demand for sustainable fuel alternatives.

Tejas Networks

Tejas Networks has secured a purchase order to supply 4G Radio Access Network (RAN) solutions for a mobile operator in South Asia. Under the order, the company’s 4G multiband radio products will be deployed across multiple sites in the operator’s network. The financial terms and the name of the operator were not disclosed.

LTTS

L&T Technology Services Limited (LTTS), a global leader in AI, Digital & R&D Consulting Services, has announced its next-generation, AI powered digital twin platform for lung navigation, surgical planning and respiratory diagnostics. The platform combines LTTS’ industry leading MedTech expertise across medical imaging, AI-driven diagnostics, and connected healthcare systems with NVIDIA AI infrastructure to enable greater precision and enhanced outcomes..

RVNL

RVNL has received an official Letter of Award from NMDC Limited worth Rs 95.27 crore for refurbishment work at Kirandul and Bacheli facilities in Chhattisgarh. The project involves comprehensive refurbishment of permanent way of NMDC sidings and mobile equipmenttracks with a 36-month execution timeline,

Tata Motors

Tata Motors announced that it will raise prices of its commercial vehicle range by up to 1.5% from April 1 to partly offset rising commodity prices and input costs. The hike will vary depending on the model and variant

Railtel

Telecom infrastructure firm RailTel Corporation of India said it has received a work order worth Rs 42.63 crore, including tax, from National Informatics Centre Services Incorporated (NICSI) for the New Core Link under the National Knowledge Network (NKN) project.

Zydus Lifesciences

Sentynl Therapeutics Inc. (Sentynl), a US-based biopharmaceutical company and wholly-owned subsidiary of Zydus Lifesciences Limited announced that it is entering into an agreement with PRG S&T, a Korean company specializing in the development of medicine for rare genetic diseases, to license its investigational molecule Progerinin (SLC-D011) for Hutchinson-Gilford Progeria Syndrome (HGPS or “progeria”). The agreement will allow Sentynl to begin working with PRG S&T immediately to advance the clinical development of Progerinin (SLC-D011) for HGPS, which has been designated as an orphan drug by the US FDA. Under the conditions that certain milestones are met, Sentynl will acquire full rights to the molecule for HGPS upon closing, making Progerinin the company’s second therapy intended for the treatment of HGPS. The program is currently finalizing a Phase 2A clinical trial and data are expected before the end of 1H 2026.

Sun Pharma

Sun Pharmaceutical Industries Limited announced that the US FDA has accepted for review the supplemental Biologics License Application (sBLA) for ILUMYA for the treatment of adults with active psoriatic arthritis. The FDA regulatory action date for this sBLA is expected by October 29, 2026. If approved, this would mark a new indication for ILUMYA following its US FDA approval in 2018 for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. Scalp and nail plaque psoriasis sBLAs were approved in April 2024, and December 2025, respectively. ILUMYA has also received marketing authorization from over 55 worldwide health authorities since its original approval, including in India, Japan, the European Union, China, Australia and Canada.

KRN Heat Exchanger

Company announced that its board has approved a proposal to raise up to Rs 500 crore through a qualified institutional placement (QIP).

Carborundum Universal

Carborundum Universal Limited (CUMI) announced the commencement of commercial production of its Cutting and Grinding wheels (Thin wheel) at its Hosur facility. In 2023, CUMI Group acquired the manufacturing lines, technology and brand of DRONCO GmbH, Germany. These manufacturing lines have been relocated and commissioned at Hosur facility. With the commissioning of this new production facility, CUMI India’s total annual cutting and grinding wheel manufacturing capacity will increase from 45 million wheels to over 90 million wheels. Company invested Rs 83 crore (excl. land) in the said expansion.

Waaree Energies

Waaree Solar Americas Inc (“WSA”), a wholly owned subsidiary of the company has today completed the acquisition of 53,68,551 series B preferred shares of United Solar Holding Inc. for a total consideration of approx. USD $30 Mn. The Company has received an intimation from the Secretariat of the International Court of Arbitration of the International Chamber of Commerce (“ICC”) regarding a Request for Arbitration filed by Enel Green Power Development S.R.L. (“Claimant”), with whom the Company had entered into Share Purchase Agreement dated January 10, 2025 for the sale and purchase of the entire issued and paid-up share capital of Enel Green Power India Private Limited (“ENEL”), a wholly owned subsidiary of the Claimant. The Request for Arbitration is premised on alleged breaches of Sale and Purchase Agreement (“SPA”) by the Company and claims for damages and loss of profits said to have been caused by such alleged breaches. The Company disputes the allegations and intends to contest the claims in the arbitration. The Company is evaluating the claims in consultation with its legal advisors and will file an appropriate response and counter claim, if any before the arbitral tribunal.

Power Sector

The government plans to add 97 GW coal and lignite-based thermal capacity by 2034-35 to meet the anticipated 3,07 GW requirement, Minister of State for Power Shripad Naik said in a written reply to the Rajya Sabha.

Axiscades Technologies

The Board has approved the acquisition of the balance 24% stake in Cades Studec Technologies India from STUDEC SAS France, along with the execution of definitive agreements in this regard. After the acquisition, Cades Studec Technologies India will become a wholly owned subsidiary of the company.

Redington

The company’s step-down subsidiary, Redington Gulf FZE, stated that its operations in the Gulf region are restricted due to ongoing geopolitical tensions. At this stage, it is not possible to reliably quantify the financial impact, as it will depend on the duration and intensity of the situation.

Cupid Breweries and Distilleries

The company has executed an agreement with Bansal Udyog, further expanding its presence in West Bengal, which is one of the largest markets in India for the consumption of alco-beverage products.

Bajel Electricals

The company announced the signing of a definitive agreement to acquire the intellectual property and brand rights of Morphy Richards in India and select South Asian markets for Rs 141.4 crore.

Adani Enterprises

The National Company Law Tribunal (NCLT), Ahmedabad, has sanctioned the Composite Scheme of Arrangement among Adani Green Technology (AGTL), Adani Emerging Businesses (AEBPL), Adani Enterprises (AEL), Adani Tradecom (ATL), and Adani New Industries (ANIL). AGTL and AEBPL will be amalgamated into AEL.

Alkyl Amines

The company is currently facing challenges in procuring ammonia, a key raw material used in the manufacture of methylamines, ethylamines, and their derivatives. Due to the non-availability of ammonia, the company has been constrained to temporarily suspend the manufacturing of these products at its Patalganga, Kurkumbh, and Dahej sites, which constitutes a force majeure event arising from the geopolitical conflict. The manufacture of other products at these sites, where ammonia is not required, will continue.

NOCIL

The Board has approved capital expenditure of approximately Rs 130 crore towards capacity expansion (rubber chemicals along with proportionate intermediates) at the Dahej plant.