Coal India Limited (CIL) has announced the appointment of Mr. B Sairam as the new Chairman-cum-Managing Director, effective December 15, 2025. He succeeds Mr. Sanoj Kumar Jha, who held the interim charge. Mr. Sairam previously led Northern Coalfields Limited (NCL) as its CMD. CIL aims to increase coal production and explore solar power and mineral acquisitions.

Leadership Transition at CIL

Mr. B Sairam has assumed the role of Chairman-cum-Managing Director (CMD) at Coal India Limited (CIL) starting December 15, 2025. He takes over from Mr. Sanoj Kumar Jha, Additional Secretary, Ministry of Coal, who was holding the interim position since November 1, 2025.

Sairam’s Prior Role

Before his appointment as CMD of CIL, Mr. Sairam was leading Northern Coalfields Limited (NCL), a subsidiary of CIL, in the capacity of its CMD. NCL is a key coal-producing unit within the CIL group.

Strategic Priorities

Mr. Sairam emphasized the importance of increased coal production and improved quality to meet the nation’s energy demands. He also highlighted the company’s focus on exploring opportunities in solar power, critical mineral acquisitions, and coal gasification, along with a commitment to sustainable mining practices.

Experience and Education

With over three decades of experience in the coal mining sector, Mr. Sairam holds a degree in mining engineering from the National Institute of Technology, Raipur, and an MBA in Energy Management from NTPC School of Business. His experience includes roles in coal mine operations, planning, logistics, and regulatory affairs. He previously served as Director (Technical) at Central Coalfields Limited.

Source: BSE

Global pharma major Lupin Limited announced that its greenhouse gas (GHG) emissions reduction targets have been officially validated by the Science Based Targets initiative (SBTi). These targets cover all three emission scopes – Scope 1, Scope 2, and Scope 3 – aligning with the Paris Agreement to limit global temperature rise to 1.5°C. This validation underscores Lupin’s commitment to sustainability and decisive climate action.

Lupin’s Commitment to Climate Action

Lupin Limited (Lupin) announced that its greenhouse gas (GHG) emissions reduction targets have been officially validated by the Science Based Targets initiative (SBTi). This validation positions Lupin among a select group that has achieved comprehensive SBTi validation within a year of setting its climate targets.

Key Emission Reduction Targets

The company is focusing on achieving significant reductions in greenhouse gas emissions with the following targets:

• Reduce absolute Scope 1 and 2 greenhouse gas emissions by 42.0% by FY 2030, with FY 2023 as the base year.
• Reduce Scope 3 greenhouse gas emissions by 61.07% by FY 2033, across purchased goods and services, fuel- and energy-related activities, upstream and downstream transportation and distribution, business travel, employee commuting, processing and use of sold products, and franchises, using FY 2024 as the baseline.

These goals are aligned with the 1.5°C pathway and validated under SBTi’s latest guidelines, thereby positioning Lupin as a key participant in the global effort to combat climate change.

Leadership Perspective

Ramesh Swaminathan, Executive Director, Global CFO, and Head of IT and API Plus SBU, Lupin, stated, “The validation from SBTi underscores Lupin’s unwavering commitment to reducing greenhouse gas emissions through a rigorous, science-driven approach. By setting ambitious targets, we are embedding sustainability into both our financial and operational strategies. These goals guide investments in renewable energy, energy efficiency, and low-carbon technologies across our global operations. Proactive action on climate change is essential not only for mitigating risks and optimising costs but also for unlocking opportunities for innovation and long-term growth.”

Source: BSE

Inox Wind announced a repeat order from Jakson Green for 100 MW, following a previous 100 MW order. This involves supplying 3.3 MW turbines for projects in Gujarat, along with limited EPC and multi-year O&M services. The new order brings the total for FY26 to 600 MW, plus a framework agreement for an additional 2.5 GW over three years, enhancing order inflow visibility.

New Order Details

Inox Wind Limited (IWL) has secured a repeat order from Jakson Green Ltd. (Jakson) for 100 MW. The order includes the supply of IWL’s 3.3 MW turbines for projects being developed by Jakson in Gujarat.

Additional Services Provided

IWL will provide limited scope EPC for the project, as well as multi-year operations & maintenance (O&M) services after the commissioning of the turbines.

Impact on Order Book

With this new order, the total order inflow for FY26 stands at 600 MW. Additionally, there is a framework agreement to be executed over the next three years for an additional 2.5 GW. This will lead to large annual orders from Inox Clean and provide additional order inflow visibility. The announcement was made on December 16, 2025.

Statements from Leadership

Mr. Kannan Krishnan, Managing Director, Jakson Green, stated, “At Jakson Green, we are diversifying our green energy portfolio and are committed to accelerating India’s transition to a sustainable future. Building on our proven expertise in utility-scale solar, we see strong synergies in our collaboration with Inox Wind as we step into large-scale wind power projects. Together, we aim to play a constructive role in advancing India’s energy transition.”

Mr. Sanjeev Agarwal, CEO, Inox Wind Ltd added, “We are delighted to have received a repeat order from Jakson Green for 100 MW, taking our total order intake from Jakson to 200 MW. Jakson has ambitious plans in the renewables space and has forayed into the wind power generation segment. We are pleased to engage with them in their initial stages and are confident of a long term and mutually beneficial relationship with them. We continue to progress on closing multiple other orders which will provide a strong revenue visibility for at least the next two years.”

Source: BSE

HDFC Bank has received approval to increase its aggregate holding in IndusInd Bank up to 9.50% of the paid-up share capital or voting rights. This approval, granted by the Reserve Bank of India (RBI) on December 15, 2025, is subject to certain conditions, including compliance with banking regulations. The approval is valid for one year, after which it will be cancelled if the shareholding isn’t acquired.

HDFC Bank’s Stake Acquisition

HDFC Bank has been given the green light to increase its stake in IndusInd Bank. The approval allows HDFC Bank to acquire ‘aggregate holding’ of up to 9.50% of IndusInd Bank’s paid-up share capital or voting rights. This decision, effective December 15, 2025, marks a potential shift in IndusInd Bank’s shareholder landscape.

Conditions and Limitations

The RBI’s approval comes with specific conditions. If HDFC Bank fails to acquire the major shareholding within one year from the date of the letter, the approval will be automatically cancelled. Moreover, HDFC Bank must ensure that its ‘aggregate holding’ in IndusInd Bank does not exceed 9.50% at any given time. Should the holding fall below 5%, prior approval from the RBI will be needed to increase it back to 5% or more. Additionally, HDFC Bank will not have representation on IndusInd Bank’s Board.

Source: BSE

Adani Power has been assigned an ESG score of 65 for FY2025 by NSE Sustainability Ratings & Analytics (NSRA), placing the company in the “Aspiring” ESG rating category. NSRA independently prepared the report based on publicly available data. This new performance benchmark is expected to drive better ESG practices in the power generation sector. The ESG score reflects Adani Power’s sustainability performance compared to its peers.

ESG Rating Update

Adani Power has received an ESG score of 65 for FY2025 from NSE Sustainability Ratings & Analytics (“NSRA”). This achievement positions Adani Power in the “Aspiring” ESG rating category. The rating reflects the company’s performance in environmental, social, and governance areas.

Significance of the Rating

The “Aspiring” ESG rating indicates that Adani Power has established a new performance benchmark in the power generation utility segment. The NSRA’s analysis independently prepared the report based on data available in public domain. This provides a valuable benchmark for the company.

Source: BSE

HDFC Bank has received approval from the Reserve Bank of India (RBI) to invest in IndusInd Bank Limited. The approval, granted on December 15, 2025, allows HDFC Bank, along with its group entities, to acquire an “aggregate holding” of up to 9.50% of the paid-up share capital or voting rights in IndusInd. The approval is valid for one year, expiring on December 14, 2026.

RBI Approval Received

HDFC Bank announced that the Reserve Bank of India (RBI) has granted approval for the bank to make investments in IndusInd Bank Limited. The approval was conveyed via an RBI letter dated December 15, 2025.

Investment Details

The approval allows HDFC Bank (including its group entities such as HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited) to acquire an “aggregate holding” of up to 9.50% of the paid-up share capital or voting rights in IndusInd.

Approval Validity

The approval granted by the RBI is valid for a period of one year from the date of the RBI’s letter, specifically until December 14, 2026. HDFC Bank must ensure that the “aggregate holding” in IndusInd does not exceed 9.50% at any time during this period.

Context of Investment

While HDFC Bank does not currently intend to directly invest in IndusInd, the “aggregate holding” of Bank group entities is likely to exceed the prescribed limit. The RBI’s definition of “aggregate holding” includes shareholding by the Bank, body corporates under the same management, mutual funds, trustees and promoter group entities. Therefore, the bank applied to RBI on behalf of its group entities on October 24, 2025.

Source: BSE

Honasa has completed the acquisition of approximately 25% share capital of Couch Commerce Private Limited on December 15, 2025. This acquisition was made by subscribing to Compulsory Convertible Preference Shares for a total consideration of INR 9,99,78,000. Couch Commerce Private Limited owns and operates the brand “Fang Oral”. This transaction strengthens Honasa’s portfolio and strategic market presence.

Acquisition Completion

On December 15, 2025, Honasa finalized the acquisition of approximately 25% of the share capital of Couch Commerce Private Limited. This acquisition enhances Honasa’s existing business operations and market reach.

Transaction Details

The acquisition was completed through the subscription of Compulsory Convertible Preference Shares. The total consideration for this acquisition amounted to INR 9,99,78,000. This investment underscores Honasa’s commitment to strategic growth opportunities.

About Couch Commerce Private Limited

Couch Commerce Private Limited owns and operates the brand “Fang Oral”. This acquisition aligns with Honasa’s broader strategy to expand its brand portfolio and market presence in the consumer sector.

Source: BSE

Reliance Power announced that no requests for re-lodgement of transfer transactions were received in November 2025. This follows the SEBI circular dated July 2, 2025, regarding re-lodgement of transfer requests for physical shares. The company has undertaken public awareness initiatives, including newspaper announcements and social media outreach, to inform shareholders about the special window that is open till January 6, 2026.

Re-lodgement Update

For the month of November 2025, Reliance Power reports that no requests were received from shareholders for the re-lodgement of transfer transactions concerning physical shares.

Background and Initiative

This update refers to the SEBI circular issued on July 2, 2025, which pertains to facilitating the re-lodgement of transfer requests related to physical shares.

Awareness Initiatives

Reliance Power has undertaken several initiatives to make shareholders aware of this special window, which is available until January 6, 2026. These initiatives include:

1. Public Notices:

Public notices were published in the Financial Express (English) and Navshakti (Marathi) on August 20, 2025, and October 19, 2025, informing shareholders about the special re-lodgement window.

2. Stock Exchange Disclosure:

The public notices were also disclosed to both the BSE Limited and the National Stock Exchange of India Limited for wider dissemination.

3. Social Media Outreach:

Posts were made on Reliance Power’s official social media platforms, including LinkedIn and Facebook, to further spread awareness regarding the re-lodgement window.

Source: BSE

Bharat Heavy Electricals Limited (BHEL) has announced the appointment of Shri Navin Kaul as the new Head of Power Sector- Marketing, Power Sector- Business Group I, effective December 15, 2025. Mr. Kaul will report directly to the Director (Power). He brings 33 years of service to the role. This appointment is part of BHEL’s ongoing strategic adjustments in its senior leadership team.

New Head of Power Sector Appointed

Shri Navin Kaul has been appointed as the new Head of Power Sector- Marketing, Power Sector- Business Group I at Bharat Heavy Electricals Limited (BHEL). He will be responsible for leading the Power Sector’s marketing efforts and business strategies.

Leadership Transition Details

Effective December 15, 2025, Shri Navin Kaul will assume his new responsibilities and report to the Director (Power). Mr. Kaul’s extensive experience and expertise are expected to contribute significantly to BHEL’s strategic goals within the power sector.

Shri Navin Kaul’s Profile

Shri Navin Kaul previously held the position of General Manager & Head (PS-Marketing), PS-BG I, New Delhi. He holds a Bachelor’s degree in Electronics & Communication. He has been with BHEL since July 9, 1992, accumulating 33 years of service within the organization.

Source: BSE

GMR Airports reported resilient traffic growth in November 2025, serving approximately 79 million passengers YTD. Overall traffic increased by 1.2% year-over-year. Domestic traffic saw a slight decrease of 0.8%, while international traffic increased by 2.7%. The company anticipates continued positive momentum in traffic growth going forward. Passenger traffic continues to exceed previous milestones.

Overall Traffic Performance

In November 2025, GMR Airports demonstrated strong performance across its key locations. The total passenger traffic, excluding Cebu, reached 11,071,484, showing a 7.4% increase compared to the previous year. Aircraft movements also saw a rise, with a total of 65,922 movements, reflecting a 7.9% increase.

Key Airport Highlights

Delhi Airport

Delhi Airport reported total passenger traffic of 7,299,434 in November 2025, a 7.5% increase. Domestic passenger growth was 9.2%, while international passenger growth was 3.0%. The airport handled a record 7.3 million passengers, with domestic and international traffic reaching unprecedented levels, and continues to make strides towards recovery and operational efficiency. November 2025 saw the highest ever single-day passenger count and ATM, further cementing Delhi Airport’s status.

Hyderabad Airport

Hyderabad Airport saw 2,739,422 passengers in November 2025, marking a 6.8% increase. International passenger traffic grew by an impressive 11.5%. The airport achieved its highest-ever passenger and ATM numbers in YTD FY26, supported by international volumes. The airport’s commitment to enhancing travel experiences is demonstrated through new retail and dining options, and improved passenger convenience.

Mopa (Goa) Airport

Mopa Airport experienced substantial growth, with passenger numbers reaching 485,838, a 14.1% increase. Domestic passenger traffic increased by 16.5%, while international traffic grew by 6.6%. Mopa airport reported it’s highest monthly passenger numbers in November 2025 for YTD FY26.

Strategic Developments

GMR Airports continues to focus on enhancing connectivity and sustainability across its network. Delhi Airport is set to improve winter operations with advanced technology, while Hyderabad Airport is expanding its route network and enhancing passenger facilities. Bhogapuram Airport is progressing steadily and is planned to complete by June 30, 2026.

Source: BSE