Wipro Limited has completed the acquisition of HARMAN’s Digital Transformation Solutions (DTS) business unit. The acquisition, initially announced on August 21, 2025, will integrate DTS into Wipro’s Engineering Global Business Line. The deal aims to advance Wipro’s Al capabilities, engineering innovation, and R&D excellence, enhancing its ability to deliver Al-powered engineering services and transformative experiences.

Acquisition Completed

Wipro Limited has finalized its acquisition of HARMAN’s Digital Transformation Solutions (DTS) business unit, effective December 2, 2025. This acquisition, following regulatory approvals, integrates DTS into Wipro’s Engineering Global Business Line, expanding Wipro’s capabilities and market presence. The original announcement of the acquisition was made on August 21, 2025.

Strategic Rationale

The acquisition of DTS is a key strategic move by Wipro to enhance its Al capabilities, drive engineering innovation, and bolster its research and development (R&D) efforts. DTS brings deep product engineering and digital transformation service capabilities to Wipro, strengthening its expertise in embodied Al, embedded software, device engineering, and customer experience platforms.

Synergies and Future Plans

The integration of DTS’ capabilities with Wipro’s consulting-led, Al-powered expertise will enable the seamless integration of HARMAN’s Al solutions with Wipro Intelligence™. Wipro aims to deliver differentiated and connected next-generation experiences, reinforcing its position as a global leader in engineering services. According to Srikumar Rao, Managing Partner and Global Head of Engineering, Wipro Limited, the acquisition strengthens Wipro’s ability to deliver Al-powered, end-to-end engineering services.

Leadership Perspective

Vikas Gupta, Executive Vice President and GM, DTS, noted that becoming part of Wipro will enable DTS to enter a new phase of growth, leveraging Wipro’s global reach and technology ecosystem to scale impact and enhance client value. This collaboration is expected to accelerate innovation and transformation for clients worldwide.

Source: BSE

Wipro has announced the completion of the merger between Wipro Digital Inc. and Harman Connected Services, Inc., effective December 1, 2025. This strategic move aims to streamline operations and enhance service delivery. The merger is expected to create synergies and strengthen Wipro’s position in the technology services market. No significant change in shareholding pattern of the listed entity.

Merger Completion

Wipro Limited has finalized the merger of Wipro Digital Inc., its wholly-owned subsidiary, with Harman Connected Services, Inc., a step-down subsidiary. The effective date of the merger is December 1, 2025.

About the Entities

Wipro Digital Inc. focuses on providing Information Technology services. As of the merger date, its turnover was NIL.

Harman Connected Services, Inc. specializes in Information Technology (IT) and Engineering, Research & Development (ER&D) services. As of December 31, 2024, its turnover was USD 223,538,898.

Rationale

The merger aims to rationalize and consolidate the group structure of the Company.

Source: BSE

Jubilant Pharmova Limited has announced the appointment of Daniel J. O’Connor as the CEO of its Proprietary Novel drugs business, Jubilant Therapeutics Inc. With over 30 years of leadership in biotechnology and oncology, O’Connor’s experience includes his recent role as CEO of Ambrx Biopharma, culminating in a successful acquisition. His expertise is expected to drive innovation in cancer therapies.

Leadership Change at Jubilant Therapeutics

Daniel J. O’Connor has been appointed as the new CEO of Jubilant Therapeutics Inc., a step-down subsidiary of Jubilant Pharmova Limited. The announcement was made on December 2, 2025, signaling a strategic move to strengthen the company’s focus on novel drug development.

O’Connor’s Background

O’Connor brings over 30 years of experience in the biotechnology and oncology sectors. His previous role as CEO of Ambrx Biopharma saw a significant increase in the company’s valuation, leading to its successful acquisition. He also played a vital role at ImClone Systems, contributing to the development and launch of a major oncology therapy. Additionally, he served as CEO of Advaxis, transforming it into a late-stage clinical enterprise.

Strategic Focus

The appointment of O’Connor aligns with Jubilant Pharmova’s mission to build a clinical-stage therapeutics company focused on developing innovative therapies for various cancer indications. Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman, expressed their enthusiasm for O’Connor joining the team.

Jubilant Therapeutics’ Pipeline

Jubilant Therapeutics Inc. is focused on developing precision oral medicines for oncology and autoimmune diseases. Their pipeline includes JBI-802, a dual COREST modifier in Phase I/II clinical trials, and a novel brain-penetrant modulator of PRMT5, also in Phase I clinical trial. The company is based in Pennsylvania and guided by globally renowned scientific advisors.

Source: BSE

Tata Communications has acquired a 51% stake in Commotion Inc., an AI-native Enterprise SaaS Platform company. This acquisition accelerates AI integration across Tata Communications’ Digital Fabric offerings, especially within its Customer Interaction Suite, including Tata Communications Kaleyra. The deal aims to deliver enhanced customer and employee experiences. Commotion’s platform integrates with Kaleyra’s core components to automate and intelligently guide end-to-end customer journeys.

Strategic Acquisition

Tata Communications has finalized an agreement to acquire a 51% stake in Commotion Inc., a company specializing in AI-driven enterprise solutions. The acquisition, executed through a Stock Purchase Agreement, aims to enhance Tata Communications’ capabilities in delivering advanced, AI-powered customer experiences. The deal was completed on December 1, 2025.

Deal Rationale

The acquisition is expected to strengthen Tata Communications’ Customer Interaction Suite portfolio by integrating agentic AI and orchestration capabilities. This will enable the company to deliver more intelligent, automated, and personalized customer segment solutions. Commotion’s AI solutions are designed to orchestrate intelligent, real-time interactions and streamline engagement across digital touchpoints.

Financial Details

The total consideration for the acquisition is approximately USD $25.50 million (approximately ₹227 Crores). About USD $15.50 million is allocated towards the purchase of stocks, while approximately USD $10.00 million is designated for capital contribution to Commotion Inc.

Commotion Inc. Overview

Commotion Inc. reported revenue of USD 118,750 (approximately ₹1.06 Crores) for the 12-month period ending December 31, 2024. The company delivers enterprise solutions through its proprietary software, facilitating intelligent and real-time interactions.

Source: BSE

Wipro has completed the acquisition of Harman Connected Services Inc. The transaction, initially announced on August 21, 2025, involves Wipro acquiring 100% shareholding in Harman Connected Services Inc. and certain other assets. This acquisition strengthens Wipro’s position in the connected services market. The completion occurred on December 1, 2025. Wipro expects the acquisition to bolster its capabilities in digital transformation and IoT solutions.

Harman Connected Services Acquisition Finalized

Wipro has officially announced the completion of its acquisition of Harman Connected Services Inc., marking a significant milestone in the company’s growth strategy. This move, initially communicated in a letter dated August 21, 2025, now sees Wipro fully integrated with Harman’s connected services.

Details of the Transaction

The acquisition involved Wipro securing 100% shareholding in Harman Connected Services Inc. along with its subsidiaries and certain other assets, collectively referred to as “DTS”. The deal was finalized on December 1, 2025, and represents a strategic expansion of Wipro’s portfolio.

Strategic Rationale

This acquisition is set to enhance Wipro’s capabilities in delivering comprehensive and innovative solutions in the connected world. It enables Wipro to provide enhanced digital transformation services to its clients. The inclusion of Harman Connected Services strengthens Wipro’s presence in key sectors and enhances its offerings related to Internet of Things (IoT) services.

Source: BSE

Hindustan Unilever Limited (HUL) has provided an update regarding the Scheme of Arrangement with Kwality Wall’s (India) Limited (KWIL). KWIL communicated certain material events, including a change in registered office and resignations of non-executive directors, related to the scheme effective December 1, 2025. This disclosure is a continuation of updates on the ongoing arrangement.

Key Developments in Kwality Wall’s Scheme

Hindustan Unilever Limited (HUL) has announced an update concerning the Scheme of Arrangement involving Kwality Wall’s (India) Limited (KWIL). This update, dated December 1, 2025, highlights key changes within KWIL as part of the ongoing arrangement.

Change of Registered Office

KWIL has officially changed its registered office. Effective December 1, 2025, the new address is 13th Floor, Oberoi Commerz II, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon East, Mumbai – 400 063. The change is within the same city limits.

Director Resignations

Several Non-Executive Directors of KWIL have resigned from their positions. Mr. Navin Jain, Ms. Vinita Nair, and Ms. Shalini Sinha resigned effective at the close of business hours on November 30, 2025. The resignations are linked to the reconstitution of the Board of Directors following the scheme’s effectiveness.

Source: BSE

Reliance Retail Ventures Limited (RRVL) has announced a composite scheme of arrangement. Effective December 01, 2025, Reliance Consumer Products Limited (RCPL) will be renamed New RCPL. As part of the scheme, New RCPL will allot 1 fully paid-up equity share of Rs. 10 for every 2 fully paid-up equity shares of RRVL to RRVL shareholders. New RCPL will become 83.56% direct subsidiary of the Company.

Scheme of Arrangement Details

A composite scheme of arrangement involving Reliance Retail Limited (“RRL”), Reliance Retail Ventures Limited (“RRVL”), Reliance Consumer Products Limited (“RCPL”), and Tira Beauty Limited has been announced. The scheme is effective as of December 01, 2025.

Key Changes and Restructuring

As part of this arrangement, RCPL will be renamed New RCPL. This change is part of a broader restructuring effort to streamline and optimize the consumer-facing businesses.

Share Allotment by New RCPL

In consideration for the demerger of the Consumer Brands Business Undertaking from RRVL to New RCPL, New RCPL will allot 1 fully paid-up equity share of Rs. 10 (Rupees ten only) for every 2 (two) fully paid-up equity shares of Rs. 10 (Rupees ten only) each of RRVL to the shareholders of RRVL.

Impact on Share Capital

Upon allotment of equity shares, the entire pre-scheme paid-up share capital of New RCPL held by RRVL will be cancelled and reduced. Following this, New RCPL will become an 83.56% direct subsidiary of the Company.

Source: BSE

HDFC Bank has been penalized by the Reserve Bank of India (RBI) with a monetary penalty of ₹0.91 crore. The penalty was imposed on November 18, 2025, and was communicated to the bank via email on November 28, 2025. This action was taken by the RBI in exercise of powers conferred under specific sections of the Banking Regulation Act, 1949.

RBI Penalty Details

The Reserve Bank of India (RBI) has imposed a penalty of ₹0.91 crore on HDFC Bank as per the order issued on November 18, 2025. The bank received notification of this penalty via email on November 28, 2025.

Reason for Penalty

The penalty is due to contraventions of directives outlined in Section 7(a)(b) & (c) of the Reserve Bank of India (Interest Rate on Advances) Directions, 2016. It also relates to Paragraph 2 of Annex to the Reserve Bank circular dated November 3, 2006, concerning ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ and Paragraph 8(b) of ‘Reserve Bank of India (KYC) Directions’ and Section 19(1)(a) read with Section 6(1) of the Banking Regulation Act, 1949.

Corrective Actions Taken

HDFC Bank states that it has since undertaken corrective actions to address the issues identified. HDBFS has also taken corrective actions. The Bank as well as HDBFS are reportedly in compliance with the above-mentioned Directions, as of the report date.

Source: BSE

CARE Ratings has reaffirmed the CARE AA; Stable rating for AU Small Finance Bank’s long-term debt instruments and assigned the same rating to its infrastructure bonds. The short-term instruments retain a CARE A1+ rating. These ratings reflect the bank’s consistent growth, strong capitalization, and healthy profitability, despite a slight moderation in return on assets in FY25 and H1FY26.

Credit Ratings Reaffirmed

AU Small Finance Bank announced that CARE Ratings Limited has reaffirmed its credit ratings for various debt instruments. The long-term debt instruments, including Tier-II bonds, continue to hold a CARE AA; Stable rating. This decision was formalized on December 1, 2025.

Rating Details

The following ratings have been reaffirmed:

• Long-Term Debt Instruments (Tier-II Bonds): CARE AA; Stable
• Infrastructure Bonds: CARE AA; Stable
• Short-Term Instruments (Certificate of Deposits): CARE A1+

Key Rating Drivers

The ratings reflect AU Small Finance Bank’s consistent growth, robust asset base, and position as the largest small finance bank in India. Key strengths include comfortable capitalization, supported by equity infusions, and healthy profitability. The bank’s capital to risk-weighted assets ratio (CRAR) stood at 18.78% as of September 30, 2025.

Factors Influencing the Ratings

The stable outlook reflects expectations that AU Small Finance Bank will maintain a profitable scale-up in advances and deposits in the medium term. While there has been a slight moderation in return on assets due to higher credit costs, overall asset quality remains manageable with a secured book standing at 92% as of September 30, 2025.

Withdrawal of Rating

The rating assigned to the proposed Tier-II bonds of AU Small Finance Bank has been withdrawn, as the instruments were only proposed and remained unutilized.

Source: BSE

Life Insurance Corporation of India (LIC) has announced the appointment of Ramakrishnan Chander as Managing Director, effective December 1, 2025. He will serve until his superannuation on September 30, 2027, or until further notice. Previously, he held the position of Executive Director (Investment – Front Office) & Chief Investment Officer.

New Leadership Appointment

Ramakrishnan Chander has been appointed as the Managing Director of Life Insurance Corporation of India (LIC) effective December 1, 2025. This appointment follows a notification from the Government of India dated December 1, 2025.

Terms of Appointment

Mr. Chander’s tenure will extend until September 30, 2027, coinciding with his superannuation date, or until further directives are issued. His compensation will be within the pay scale of Rs. 2,05,400/- to Rs. 2,24,400/-.

Previous Role

Prior to his new role, Mr. Chander served as Executive Director (Investment – Front Office) & Chief Investment Officer of the Corporation. With his appointment as Managing Director, he ceases to hold these previous positions.

Experience

Mr. Chander joined LIC in 1990. He holds a graduate degree and is a Fellow of the Insurance Institute of India. He has 35 years of experience in Marketing and Administration, including roles as Senior Divisional Manager, Regional Manager (Marketing), and Regional Manager (P&GS). He also directed LIC’s Strategic Business Unit – International Operations as Executive Director.

Source: BSE