Shilpa Medicare | Drug firm said its wholly-owned subsidiary Shilpa Biologicals Private Ltd has entered into a strategic co-development and commercialisation partnership with Switzerland-based mAbTree Biologics AG for a novel biological entity (NBE) targeting immuno-oncology applications. As per the binding term sheet, SBPL will support the development of mAbTree’s checkpoint inhibitor, including first-in-human clinical trials, and provide long-term commercial supply through its GMP manufacturing capabilities.

Swiggy | Food delivery and quick-commerce major said its quick commerce platform Swiggy Instamart has expanded its quick commerce services to 100 cities across India, driven by rising demand in tier 2 and tier 3 markets. In 2025 alone, the platform introduced its 10-minute delivery service in 32 new cities, including Raipur, Siliguri, Jodhpur, and Thanjavur.

JM Financial | Financial services group said it has approved the transfer of its private wealth business to its wholly-owned subsidiary, JM Financial Services Ltd (JMFSL), through a slump sale for ₹11.08 crore. The transfer, effective from April 1, 2025, is aimed at consolidating the group’s wealth management services under a unified structure.

Coffee Day | The company said it has reached a settlement agreement to clear ₹205 crore in outstanding dues owed to two debenture holders. The repayment will be made in three tranches, including ₹55 crore from the sale of 12.41% of pledged and invoked shares of Coffee Day Global Ltd to a third party. The company’s Audit Committee and Board approved the draft settlement agreement on March 17, 2025.

NBCC India | State-owned construction firm said it has been awarded a ₹44.62 crore contract for project management consultancy (PMC) services from the Mahatma Gandhi Institute for Rural Industrialisation (MGIRI) in Wardha. The scope of work includes overseeing the construction and development of infrastructure at MGIRI, along with a hostel and VIP guest house, under the EPC mode.

Suryoday Small Finance Bank | The bank said its promoter, Managing Director and CEO, Baskar Babu Ramachandran, has purchased 1,50,000 equity shares from the open market. Following the transaction, the total promoter group holding in the bank has increased to 22.44% from 22.30%, while Ramachandran’s individual stake has risen to 5.18% from 5.04%. The bank confirmed that the promoter shareholding remains in compliance with regulatory requirements and RBI-approved limits.

IndusInd Bank | Rating agency Moody’s Ratings said it has affirmed IndusInd Bank’s Ba1 long-term foreign and local currency deposit and issuer ratings with a stable outlook while placing its ba1 Baseline Credit Assessment (BCA) and adjusted BCA under review for a potential downgrade. The rating agency cited IndusInd’s strong capital position, core profitability, and stable funding as factors supporting its current rating. However, the review for the downgrade of the BCA reflects concerns over inadequate internal controls related to the bank’s accounting for derivative transactions.

ONGC | State-owned company said it has received a Goods and Services Tax (GST) demand order amounting to ₹22 crore from the Joint Commissioner, State Tax, Circle C, Jodhpur, for the period between April 1, 2020, and May 14, 2020. The order, issued under Sections 73 and 50 of the CGST Act, 2017, includes a GST recovery demand of ₹11.31 crore, interest of ₹9.50 crore, and a penalty of ₹1.13 crore.

Religare Enterprises | Financial services firm said it has initiated a governance review of its operations and those of its subsidiaries, Religare Finvest Ltd (RFL) and Religare Housing Development Finance Corporation Ltd (RHDFCL). The review aims to assess past operating practices, enhance systems and controls, and investigate potential misconduct by current or former employees. To conduct the review, REL’s Board of Directors has engaged law firm Trilegal, which will be assisted by Grant Thornton Bharat LLP.

Star Cement | Northeast-based company said its subsidiary Star Cement Meghalaya Ltd has been declared the preferred bidder for the Composite License of the Boro Hundong limestone block in Assam. The company secured the block through an e-auction conducted by the Government of Assam. The limestone block, located in Dima Hasao district, spans 400 hectares and holds an estimated limestone resource of 146.75 million tonne.

Morepen Laboratories | Pharmaceutical company said it has launched a new treatment for Type 2 diabetes, heart failure, and chronic kidney disease. The drug, Empamore, is said to provide an affordable and high-quality alternative to existing treatments for millions of patients in India. Empamore contains empagliflozin and is available in multiple formulations, including 10mg and 25mg doses, as well as combination variants with metformin (500mg/1000mg). Morepen manufactures empagliflozin at its USFDA-approved facilities and holds a European Drug Master File (DMF), ensuring global-quality standards.

Triveni Engineering | Integrated sugar and ethanol manufacturer reported an explosion occurred at the CO2 plant of its Sabitgarh Sugar Unit in Bulandshahr, Uttar Pradesh, at around 3:30 PM today. There is no loss of life or casualties reported. The cause of the explosion is yet to be ascertained. Further, business operations on premises are not affected,” Triveni Engineering and Industries said in a regulatory filing.

Bank of Maharashtra | State-owned bank said it has received an administrative warning from the Securities and Exchange Board of India (SEBI) for failing to conduct the required Nomination & Remuneration Committee (NRC) meetings in FY 2022-23 and 2023-24. The warning letter, dated March 12, 2025, was received by the bank on March 17, 2025. In response, the bank stated that it has taken cognizance of SEBI’s directive and will take necessary steps to address the concerns raised.