MSCI ESG Research LLC has upgraded Maruti Suzuki India Limited’s ESG rating to BB (in 2025) from B (in 2024). The announcement, dated November 7, 2025, confirms the upgrade, signaling improved environmental, social, and governance performance. This upgrade reflects positively on the company’s sustainability efforts.

MSCI ESG Rating Improvement

Maruti Suzuki India Limited has received an upgraded ESG rating from MSCI ESG Research LLC. The company’s ESG performance is now rated as BB, an increase from its previous rating of B. This upgrade is effective for 2025, as confirmed in the official announcement.

Details of the Upgrade

The upgrade from B (in 2024) to BB (in 2025) signifies that MSCI ESG Research recognizes improvements in Maruti Suzuki’s environmental, social, and governance practices. The company has been informed to take this change on record. This upgrade is based on the most recent evaluation by MSCI ESG Research LLC.

Source: BSE

The Supreme Court has ruled in favor of IRCTC, dismissing all claims from caterers related to disputes over second regular meals and welcome drinks. The judgment, dated November 7, 2025, overturns previous orders and absolves IRCTC of any financial liability. This decision brings closure to the litigation, with no further financial or operational impact expected on the company.

Supreme Court Verdict

The Hon’ble Supreme Court, through its judgment on November 7, 2025, set aside the Delhi High Court’s Division Bench order dated February 10, 2025, and Single Judge orders dated August 13, 2024, along with the Arbitral Award dated April 27, 2022.

Key Court Findings

The Apex Court determined that the Arbitral Tribunal exceeded its jurisdiction by disregarding binding contractual terms and Railway Board circulars. These circulars authorized IRCTC to modify menus and tariffs unilaterally. The court observed that claims regarding reimbursement of the second regular meal and supply of welcome drinks lacked contractual and legal basis, and were contrary to governing circulars. The award was found patently illegal and against public policy.

Impact on IRCTC

The Supreme Court’s decision fully dismisses all caterers’ claims. This resolution has no financial or operational impact on IRCTC. Details of the case were disclosed in the company’s Annual Report for FY 2023-24, and last updated to exchanges on February 6, 2025.

Source: BSE

Chennai Petroleum Corporation Limited (CPCL) has announced that CRISIL Ratings has reaffirmed its ‘CRISIL AAA/Stable & Crisil A1+’ ratings on the company’s bank facilities and commercial paper. This decision, communicated on November 7, 2025, reflects continued confidence in CPCL’s financial stability and creditworthiness. The updated credit rating list has been posted on the company website.

Credit Ratings Maintained

CPCL’s ‘CRISIL AAA/Stable & Crisil A1+’ ratings on its financial instruments have been reaffirmed by Crisil Ratings. The reaffirmed ratings are applicable to bank facilities and commercial paper as of November 7, 2025.

Detailed Credit Rating Breakdown

Here’s a summary of the credit ratings assigned to Chennai Petroleum Corporation Limited’s debt instruments:

• Cash Credit: CRISIL AAA/Stable for ₹3,000 Crore (State Bank of India)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹475 Crore (IndusInd Bank Limited)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹1,000 Crore (The South Indian Bank Limited)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹525 Crore (ICICI Bank Limited)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹500 Crore (HDFC Bank Limited)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹500 Crore (Punjab National Bank)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹1,000 Crore (Bank of India)
• Fund-Based Facilities: CRISIL AAA/Stable for ₹800 Crore (Indian Bank)
• Letter of credit & Bank Guarantee: CRISIL A1+ for ₹184 Crore (State Bank of India)
• Proposed Long Term Bank Loan Facility: CRISIL AAA/Stable for ₹0.9 Crore
• Commercial Papers: CRISIL & ICRA A1+ for ₹7,500 Crore
• NCD (Withdrawn): CRISIL & ICRA AAA/Stable for ₹810 Crore; this NCD was fully redeemed/matured on 17.07.2025

Note: Full interchangeability with packing credit applies.

Source: BSE

Great Eastern Shipping has announced that K.M. Sheth will step down as Chairman, effective November 09, 2025, due to age-related reasons. Bharat K. Sheth, currently Deputy Chairman and Managing Director, will assume the role of Chairman. The Board has named K.M. Sheth as ‘Chairman Emeritus’ in recognition of his service. These changes reflect a strategic transition in leadership for the company.

Leadership Transition at Great Eastern Shipping

Effective November 09, 2025, K.M. Sheth will step down from his position as the Non-Executive Chairman of Great Eastern Shipping due to age-related reasons. He joined the company in 1952 and has been a pivotal figure in its growth.

Appointment of Bharat K. Sheth

The Board of Directors has appointed Bharat K. Sheth, currently the Deputy Chairman and Managing Director, as the new Chairman of the company, also effective November 09, 2025. He will now be designated as ‘Chairman and Managing Director’. He joined the company in 1981.

Recognition of K.M. Sheth’s Contribution

In recognition of his long and distinguished service, the Board has appointed K.M. Sheth as ‘Chairman Emeritus’ of the Company for life. This position is honorary.

Source: BSE

Max Healthcare Institute Limited announces that the Scheme of Amalgamation between Crosslay Remedies Limited and Jaypee Healthcare Limited has been officially sanctioned. The National Company Law Tribunal approved the merger, effective October 5, 2024. This strategic move consolidates Max Healthcare’s subsidiary operations, streamlining the group structure. The approval was granted on November 7, 2025.

Merger Sanctioned by Tribunal

The National Company Law Tribunal has officially approved the Scheme of Amalgamation involving Crosslay Remedies Limited and Jaypee Healthcare Limited, both wholly-owned subsidiaries of Max Healthcare Institute Limited. The order, received on November 7, 2025, signifies a key milestone in the company’s restructuring efforts.

Effective Date and Operational Changes

The appointed date for the amalgamation is set for October 5, 2024, as outlined in the approved scheme. With the sanction, Crosslay Remedies Limited will be dissolved without winding up, and its assets and liabilities will be integrated into Jaypee Healthcare Limited. All related contracts and employee agreements will transfer to Jaypee Healthcare, maintaining existing terms.

Scheme Details

The amalgamation scheme ensures the continuation of all legal and taxation proceedings. Further, the authorized share capital will also be adjusted. This merger streamlines the operations of Max Healthcare and is expected to bring efficiency to the overall organizational structure. With effect from the Effective Date, the Authorised Share Capital of the Company is INR 7,57,00,00,000.

Source: BSE

The Shipping Corporation of India (SCI) announced strong financial results for Q2 FY26. Net profit stood at ₹176 crores on a standalone basis and ₹189 crores consolidated. The board has declared an interim dividend of ₹3 per share. The company’s net worth reached ₹7963 crores. SCI’s fleet includes 58 owned and 40 managed vessels.

Financial Performance Highlights

SCI reports the following key financial metrics:

• Standalone Net Profit: ₹176 crores
• Consolidated Net Profit: ₹189 crores
• Interim Dividend: 30% (₹3 per share)
• Net Worth: ₹7963 crores as of September 30, 2025
• Cash Position: ₹1875 crores (including liquid MFs)
• Long Term Loan: ₹2526 crores as of September 30, 2025
• DSCR: 4.24

Fleet Details

SCI’s fleet comprises a total of 58 owned vessels with an average age of 15.50 years. The fleet breakdown is as follows:

• Liner vessels: 2
• Bulk Carriers: 15
• Tankers: 31
• Technical & Offshore: 10

The company also manages 40 vessels.

VLGC Additions

SCI expanded its fleet with the induction of two Very Large Gas Carriers (VLGCs), “Sahyadri” and “Shivalik”, enhancing its presence in energy transportation. The vessels will operate on the Persian Gulf to India trade route.

Q2 FY26 Standalone Performance

The standalone financial highlights for Q2 FY26 show significant Operating Revenue, EBITDA, and PAT. The operating revenue reached ₹1339 crores in Q2 FY26, while the PAT was ₹176 crores.

Segment Performance

A detailed breakdown of segment-wise operating revenue for Q2 FY26:

• Liner: ₹213 Crores
• Bulk: ₹201 Crores
• Tanker: ₹858 Crores
• T&OS: ₹74 Crores

Tanker Market Overview

The Tanker market experienced strong gains across all segments during the quarter. The VLCC market was particularly dynamic, with TCE also gaining higher for VLCC routes. Middle East Gulf Aframax market remained pretty steady through out the quarter.

Liner/Container Business Focus

SCI is strategically positioned to benefit from India’s economic growth by dominating the stable and expanding coastal sector and to maintain 100% service continuity by strategically rerouting the operations to ensure predictable delivery for the customers.

Source: BSE

Bajaj Finance announces the cessation of Shri Anupam Sirbhaiya as Senior Management Personnel effective November 1, 2025. This follows Shri Sirbhaiya’s movement to Bajaj Finserv Limited. The announcement was made on November 7, 2025, reiterating the company’s commitment to transparency in leadership changes.

Senior Management Change

Bajaj Finance has announced that Shri Anupam Sirbhaiya has ceased to be a Senior Management Personnel of the company, effective November 1, 2025. This change is due to his move to Bajaj Finserv Limited.

Resignation Details

The announcement, dated November 7, 2025, references a previous letter from November 1, 2025, which had already intimated the movement of Shri Sirbhaiya. Shri Sirbhaiya has served as the Chief HR and Administration Officer and will be taking on the role of Group Chief Human Resources Officer at Bajaj Finserv Limited.

Effective Date

The cessation of Shri Anupam Sirbhaiya as Senior Management Personnel is effective from November 1, 2025, marking the end of his role at Bajaj Finance.

Source: BSE

Ola Electric reported a 30.7% gross margin in Q2 FY26, surpassing many ICE companies. The Auto business turned cash-generative with ₹15 crore in cash flow from operations. The company commissioned a 2.5 GWh Gigafactory and launched Ola Shakti, a residential BESS product. Motorcycle sales accounted for 12%-15% of total volume. The company expects gross margins of 36%-37% going forward, targeting a ₹1,000 crore revenue from the BESS unit in FY27.

Strong Q2 Performance

During the Q2 FY26 earnings call, Bhavish Aggarwal, Chairman and Managing Director of Ola Electric Mobility Limited, highlighted the company’s strong progress towards profitability. Key achievements include:

• Gross Margin: Achieved 30.7% gross margin in the Auto business.
• Cash Flow: The Auto business became cash-generative, reporting ₹15 crore in cash flow from operations.
• Gigafactory: Commissioned a 2.5 GWh Gigafactory, with plans to scale up to 5.9 GWh by March.

BESS Business Expansion

Ola Electric expanded into the energy segment with the launch of Ola Shakti, a residential Battery Energy Storage System (BESS) product. The company anticipates significant revenue from this segment:

• Q4 FY26 Revenue: Expects approximately ₹100 crore in revenue, selling around 7,000-8,000 units.
• FY27 Revenue Target: Aims for ₹1,000 crore in revenue from the BESS business.

Motorcycle Sales and ASP

The company also shared details on its motorcycle sales and Average Selling Price (ASP):

• Motorcycle Mix: Motorcycle sales accounted for 12%-15% of the total volume in Q2.
• ASP Increase: The two-wheeler business ASP increased from approximately ₹121,000 to ₹131,000.

Future Outlook and Strategy

Ola Electric is focused on consolidating its operations, improving cost efficiencies, and launching new products. Key strategies include:

• Gross Margin Improvement: Expects gross margins of 36%-37% from Q4 FY26 onwards.
• Market Share Target: Aims to be one of the top 1-2 leading players with a market share of around 25%.

Warranty and Service

The company is actively working to improve its service network and address customer concerns:

• Defect Rates: Gen 3 products have almost half the defect rates compared to previous generations.
• Service Improvement: The Hyperservice initiative aims to make parts openly available and improve the service experience.

Source: BSE