JSW Paints is closing in on a sweetened Rs. 9,000-12,000 crore acquisition deal with Dutch paint giant AkzoNobel NV. If the deal — currently under negotiation and expected to be signed in the UK within a fortnight — goes through, the Indian conglomerate will get control of the iconic ‘Dulux’ brand across India, Sri Lanka, Nepal and Indonesia. Akzo Nobel JV, known for brands like Dulux, has been in active discussions to rationalise its South Asia portfolio, with India, a cornerstone of its regional strategy, at the heart of the talks.

Hitachi Energy India has secured a major order from Power Grid Corporation to supply 30 units of 765 kV, 500 MVA single-phase transformers, supporting India’s long-term power transmission strategy driven by renewable energy and electrification growth. The required transformers will be manufactured at Hitachi Energy India’s power transformer factory in Maneja, Vadodara, Gujarat, according to a statement.

Power Mech Projects  has won a ₹159 crore contract from Bihar State Power Generation Company to construct 13.66 MW solar plants across the state, with a 25-year execution timeline.

Heranba Organics (HOPL), subsidiary of Heranba Industries has started commercial production at its Sarigam Unit, Phase-II situated at GIDC, Sarigam, Valsad, Gujarat. This Sarigam Unit, Phase-II will produce fungicides & insecticides products. This development is in line with company’s commitment and promises towards fostering sustainable growth while also creating job opportunities in the region. The company expects Sarigam Unit, Phase-I & Phase-II to generate annual revenue of Rs 375 crore to Rs 475 crore. The production capacity and capacity utilisation of this Sarigam Unit will be 9000 MTPA (Max).

The Department of Telecom has sent a notice to Bharti Airtel for imposing a penalty of Rs 6.48 lakh for violation of subscriber verification rules in Assam circle, the telco said on Thursday. Bharti Airtel in a regulatory filing has countered the charges and said that it will take appropriate action for its rectification and reversal.

The board of Bank of India has approved for issuance of Long Term Infra Bonds to the tune of Rs 20,000 crore during the FY 2025-26. 

Magellanic Cloud’s subsidiary -- Motivity Labs Inc. (USA) has secured multiple purchase orders worth Rs 18 crore for various statements of work (SoWs). These SoWs cover the design, development, and deployment of high-volume data pipelines, data lakes, BI dashboards, and AI-driven analytics for mission-critical operations.

Brahmaputra Infrastructure has received LOA from National Highway Authority of India (NHAI) for construction of rain water drainage along the Project Highway ‘Four-laning of Jorabat-Shillong (Barapani) section of NH-40 (New NH-6) from 0.000 to km 61.800 in Assam and Meghalaya’ on item rate (percentage) basis. 

Tata Power has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital, officials said on Thursday. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik, they added. It can be noted that through amendments made to the Electricity Act, private distribution companies are allowed to apply to serve various parts.

BEML, a leading Public Sector Undertaking (PSU) under the Ministry of Defence, laid the foundation stone for its upcoming Central Warehousing Centre in Bilaspur, Chhattisgarh. In a statement, the city based company said the state-of-the-art logistics facility is being developed as a strategic hub to enhance supply chain system, reduce operational costs, and meet the evolving needs of customers across BEML’s key verticals.

PB Fintech’s co-founders Yashish Dahiya and Alok Bansal divested a little over 1 per cent stake in the company for Rs 920 crore through open market transactions. PB Fintech’s chief executive Dahiya and Vice Chairman Bansal sold a total of 50.50 lakh shares or 1.09 per cent stake in the company. According to the block deal data on the NSE, Ashish Dahiya offloaded a total of 34 lakh shares in two tranches, amounting to a 0.74 per cent stake in PB Fintech. In addition, Alok Bansal sold 16.50 lakh shares or 0.36 per cent holding in Gurugram-based PB Fintech, as per the data. The combined transaction was valued at around Rs 919.86 crore, executed at an average price of Rs 1,821.50 apiece.

The board Biocon has approved the acquisition of optionally convertible debentures of its arm Biocon Biologics Ltd from Goldman Sachs for $198.5 million. The board of directors, at its meeting held on June 26, has approved the acquisition of optionally convertible debentures (OCDs) of Biocon Biologics Ltd, an unlisted subsidiary, from Goldman Sachs India Alternative Investment Trust AIF Scheme 2 and Goldman Sachs India AIF Scheme-1 (Goldman Sachs), Biocon Ltd said in a regulatory filing.

Morgan Stanley, Citigroup Global Markets Singapore and six other entities on Thursday bought a 1.6 per cent stake in logistics solution provider Delhivery for Rs 461 crore through open market transactions. Besides, HDFC Mutual Fund (MF), Axis MF, Tata MF, ASK Asset & Wealth Management, Hill Fort Capital and Hong-Kong-based investment manager Viridian AM purchased shares of the Gurugram-based Delhivery, as per the block deal on the NSE. The entities picked up over 1.19 crore equity shares or 1.6 per cent stake in the company at an average price of Rs 387, taking the combined value to Rs 461 crore. Meanwhile, venture capital firm Nexus Venture Partners, through its affiliates Nexus Opportunity Fund and Nexus Ventures III, offloaded an equal number of shares at the same price.

Global bio-pharmaceutical company AstraZeneca has established its state-of-the-art Global Hub in Bengaluru investing Rs 166 crore to focus on development of AI-powered healthcare solutions, a top official said on Thursday. It will support the company’s capabilities in AI-powered innovation across Research and Development, global business services, Information Technology and digital health operations, among others.

Published on June 27, 2025