RVNL | The navratna PSU under the Ministry of Railways has secured a key infrastructure project, emerging as the lowest bidder (L1) for a ₹554.64 crore contract awarded by the National Highways Authority of India (NHAI). The project involves the construction of a six-lane access-controlled connectivity road linking Sabbavaram bypass (Anakapalli-Anandapuram corridor) to Sheelanagar junction of NH-516C in Andhra Pradesh.

Kaynes Technology | Semiconductor manufacturing company said its Managing Director, Ramesh Kunhikannan, has received a Show-Cause Notice from the Securities and Exchange Board of India (SEBI) dated March 10, 2025. The notice pertains to alleged violations in maintaining the Structured Digital Database (SDD) related to the company’s financial results for the period ending March 31, 2023, under the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Infosys | US-listed shares of Infosys fell for the second consecutive day on Tuesday (March 11) after Morgan Stanley downgraded the IT firm to ‘equal-weight’ from ‘overweight.’ The brokerage, which had maintained an overweight rating for at least four years, cited concerns over slowing growth and stretched valuations. It also reduced its target price to ₹1,740 from ₹2,150, indicating a 19% downside.

Tamilnad Mercantile Bank | Private sector lender said it has received a Notice of Demand under Section 156 of the Income Tax Act, 1961, from the Income Tax Department’s Assessment Unit for the assessment year 2017-18. The notice pertains to a tax demand of ₹58.91 crore due to certain additions and disallowances made during the assessment under Section 143(3). “The bank is in the process of challenging the said order in the appropriate forum against disallowances /additions made in the said order within the prescribed timelines,” it said.

Nykaa | FSN E-Commerce Ventures Ltd said it has incorporated a new wholly owned subsidiary, Nykaa Essentials Private Ltd, with its registered office in Mumbai, Maharashtra. The subsidiary will operate in the beauty and personal care (BPC) retail sector, covering both e-commerce and physical stores. Nykaa Essentials will focus on trading and dealing in cosmetics, toiletries, personal care, healthcare, lifestyle, and perfumery products.

Canara Bank | State-owned bank announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), effective March 12, 2025, with reductions of 5-15 basis points (bps) on select tenures. While shorter-tenor rates remain largely unchanged, the bank has reduced its two-year and three-year MCLR. “The Exchanges are hereby informed that the Marginal Cost of Funds Based Lending Rate (MCLR) of the bank with effect from 12.03.2025,” Canara Bank said in a regulatory filing.

Poly Medicure | Medical consumables company announced that it has received Medical Device Regulation (MDR) certification for 54 of its products. These devices cater to multiple medical specialties, including infusion therapy, vascular access, renal care, urology, surgery & wound care, transfusion systems, anaesthesia & respiratory care, gastroenterology, and diagnostics.

IndusInd Bank | The bank fire fought the fallout of a ₹2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management’s assurance failed to arrest the free fall of shares which tanked over 27% on the bourses. IndusInd Bank CEO and Managing Director Sumant Kathpalia said that the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week.

TVS Motor Company | Chennai-based company announced that its shareholding in the Indian Foundation for Quality Management (IFQM) has been reduced to 18.18% following a fresh allotment of shares by IFQM to other investors. With the stake falling below 20%, IFQM no longer qualifies as an associate of TVS Motors under the Companies Act, 2013. The company did not disclose details of the new investors or the extent of the additional shares issued.’

PB Fintech | Policybazaar’s parent firm said its board has approved an investment of up to ₹696 crore in its wholly owned subsidiary, PB Healthcare Services Private Limited, through the subscription or purchase of equity shares and compulsory convertible preference shares (CCPS) during FY 2025-26. The investment, subject to shareholder approval via postal ballot, will be made alongside external investors, including Chairman & CEO Yashish Dahiya, Executive Vice Chairman Alok Bansal, and three Key Managerial Personnel (KMPs).

Adani Green | The company announced that its wholly owned stepdown subsidiary, Adani Solar Energy AP Eight Private Limited, has commissioned a 250 MW solar power project in Kadapa, Andhra Pradesh. With this addition, AGEL’s total operational renewable energy capacity has risen to 12,591.1 MW. The decision to commission the plant from March 8, 2025, was finalized at 6:18 p.m. on March 11, 2025, based on the necessary regulatory clearances.

TCS | The country’s largest IT services firm said it has signed an agreement to acquire 100% equity shares of Darshita Southern India Happy Homes Private Limited for ₹2,250 crore. The acquisition is aimed at securing land and a commercial building to serve as a new delivery center for the IT services giant.