1 / 11Garden Reach Shipbuilders | State-run company said it has signed a contract for the construction and delivery of the second 7,500 Deadweight Tonnage (DWT) Multi-Purpose Vessel (MPV) in a series of four additional vessels. The agreement was formalised on December 4, 2024, in Hamburg, Germany. This milestone follows GRSE’s September 2024 announcement of securing an order for four additional MPVs of 7,500 DWT each.
2 / 11Ramco Systems | Enterprise aviation software provider said it has entered into a partnership with Hanjin Information Systems & Telecommunication Co, Ltd (HIST), a leading ICT services company and a subsidiary of the Hanjin Group, Korea. The collaboration aims to drive digital transformation in aviation maintenance and engineering (M&E) and Korean aviation organisations’ maintenance, repair, and overhaul (MRO) operations.
3 / 11Afcons Infrastructure | Shapoorji Pallonji group firm said it has achieved a milestone in Delhi Metro Phase IV by completing the longest tunnelling drive between the Tughlakabad Airforce launching shaft and Maa Anandmayee Marg Station on the Tughlakabad-Aerocity corridor. The DC-07 package includes three stations, 11.26 km of tunnelling, a 223-metre ramp, and a 119-meter cut-and-cover section. The three underground stations are Maa Anandmayee Marg Station, Tughlakabad Railway Colony Station, and Tughlakabad Station.
4 / 11Dr Reddy’s Laboratories | Drug firm announced that its step-down wholly owned subsidiary, Dr Reddy’s Laboratories Kazakhstan LLP, has received a penalty order from the Department of State Revenue, Bostandyk district, Almaty, Kazakhstan. The order, dated December 4, 2024, imposes a penalty of KZT 17,597,212 (approximately ₹28.7 lakh) for the disallowance of certain expense claims for the calendar year 2021.
5 / 11Subex | The company informed the exchanges that the Reserve Bank of India (RBI) has revoked the in-principle approval granted to its wholly-owned subsidiary, Subex Account Aggregator Services Private Limited. The approval, which was intended to allow the subsidiary to set up an Account Aggregator business, was surrendered by the company at its request. The company stated that the revocation of the approval will not have any impact, as the subsidiary had not commenced its operations.
6 / 11Waaree Energies | Leading solar module manufacturer has received accreditation from the National Accreditation Board for Testing and Calibration Laboratories (NABL) for its testing lab at the Chikhli facility in Gujarat. This is the company’s second NABL-certified facility, with the first being its Tumb manufacturing unit. The accreditation confirms the lab’s ability to carry out over 48 tests on solar modules, including thermal cycling, damp heat, and mechanical load tests.
7 / 11GPT Healthcare | The company said it has entered into a Memorandum of Understanding (MoU) and Letter of Intent (LoI) with Naveen Singh and other lessors to construct and finish a high-class hospital building in Jamshedpur, Jharkhand. The facility will be leased to the company on a long-term basis. The agreement involves multiple parties, including Naveen Singh, Ankur Singh, Shruti Singh, Vinayak Singh, Akshat Singh, Avinash Gaurav, and Kavita Singh. The hospital building will feature state-of-the-art amenities and services.
8 / 11RITES | State-owned company said it has been appointed as the Project Management Consultant (PMC) for the development of the Phase II campus of the Indian Institute of Management (IIM) Raipur in Chhattisgarh. The project, awarded by IIM Raipur, is valued at ₹148.25 crore (excluding GST), including the PMC fee. The contract involves the execution, supervision, monitoring, and overall development of the campus on a cost-plus basis. The project is expected to be completed within 23 months.
9 / 11Mishtann Foods | The Securities and Exchange Board of India (SEBI) has ordered Mishtann Foods to recover nearly ₹100 crore, misappropriated or diverted through group entities and its promoters. In an interim order issued on December 5, SEBI directed the company to “bring back the Rights issue proceeds amounting to ₹49.82 crore misutilised /misappropriated/diverted through group entities and ₹47.10 crore misutilised /misappropriated /diverted to promoters/directors of MFL and their relatives through fictitious sales/purchases with group entities.”
10 / 11Spandana Sphoorty | ICRA has revised its outlook on Spandana Sphoorty Financial Ltd (SSFL) to negative from stable, while reaffirming its rating at ICRA A+ (negative) for both long-term fund-based term loans (₹2,105 crore) and non-convertible debentures (₹423 crore). The revision follows concerns over a deterioration in the company’s financial asset quality and profitability in H1FY25. ICRA highlighted a significant rise in delinquencies within the microfinance industry due to factors like borrower overleveraging and political movements.
11 / 11Canara Bank | State-owned bank said it has received approval from the Reserve Bank of India (RBI) to divest its shareholding in Canara Robeco Asset Management Company Ltd (13%) and Canara HSBC Life Insurance Company Ltd (14.5%) through Initial Public Offerings (IPOs). The RBI further directed that the bank adhere to the October 31, 2029, deadline set by the Government of India to reduce its stake in both entities to 30%.
