Emcure Pharmaceuticals has announced the resignation of Company Secretary and Compliance Officer, Chetan Sharma (FCS: 8352), effective from the close of business hours on November 24, 2025. Mr. Sharma is leaving to pursue other opportunities. The company has provided the required disclosure under applicable regulations.

Change in Key Personnel

Emcure Pharmaceuticals Limited announced the resignation of Mr. Chetan Sharma from the position of Company Secretary and Compliance Officer. The resignation will take effect at the close of business hours on November 24, 2025.

Reason for Departure

According to the official statement, Mr. Sharma’s departure is due to his decision to pursue opportunities outside of the organization.

Disclosure Details

The company confirmed that all necessary disclosures, as required under the applicable regulations, have been duly provided and are available for review.

Source: BSE

Karur Vysya Bank has announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR), effective November 22, 2025. The overnight MCLR has been revised to 8.90%, while the one-month and three-month MCLRs are now at 9.05%. The six-month and one-year MCLRs have been set at 9.20%. These revisions are expected to influence the bank’s lending rates and potentially affect borrowing costs for customers.

Revised Lending Rates

Karur Vysya Bank has adjusted its Marginal Cost of Funds Based Lending Rates (MCLR) across various tenors. These changes will take effect on November 22, 2025.

New MCLR Rates

Here’s a breakdown of the revised MCLR rates:

Nature of ROI Existing Revised

Overnight MCLR 9.15% 8.90%

One-month MCLR 9.30% 9.05%

Three-month MCLR 9.30% 9.05%

Six-month MCLR 9.45% 9.20%

One-year MCLR 9.45% 9.20%

This adjustment in MCLR is a key factor that influences the interest rates on loans disbursed by the bank.

Source: BSE

Bandhan Bank held a group meeting with analysts and institutional investors on November 21, 2025. The meeting, titled Kotak Midcap Conference 2025, took place in Mumbai. Key participants included representatives from Aditya Birla Sun Life Insurance, Alchemy Capital Management, Buoyant Capital, DSP Asset Managers, and other investment firms. This engagement allowed for discussions on the bank’s performance and future strategies with leading financial experts.

Investor Engagement

Bandhan Bank engaged with analysts and institutional investors at a group meeting held on November 21, 2025. The Kotak Midcap Conference 2025 provided a platform for interaction and information exchange between the bank’s management and key stakeholders.

Key Participants

The meeting in Mumbai saw participation from several prominent investment firms:

• Aditya Birla Sun Life Insurance
• Alchemy Capital Management
• Buoyant Capital
• DSP Asset Managers
• Dymon Asia Capital Investment Adviser (India)
• HDFC Ergo General Insurance
• India First Life Insurance
• Ishana Capital
• Kora Capital
• New Horizon Investments
• Oaklane Capital
• Quest Investments
• Sameeksha Capital
• Vaikarya

Source: BSE

Rail Vikas Nigam Limited (RVNL) has emerged as the lowest bidder (L1) for a project from North Eastern Railway. The project involves the design, supply, erection, testing, and commissioning of OHE modification and feeder wire work. This project aims to upgrade the capacity of the UTR-MWP section. The total length of the section is 184 RKM/368 TKM in the Lucknow division of Northern Railway.

Project Award Details

Rail Vikas Nigam Limited (RVNL) has been declared the lowest bidder (L1) for a significant project with the North Eastern Railway. The official announcement was made on November 21, 2025, confirming RVNL’s position for this important infrastructure upgrade.

Project Scope

The project encompasses the design, supply, erection, testing, and commissioning of OHE modification and feeder wire work of 2×25 kV traction system. This is aimed at the capacity upgradation of the UTR-MWP section. This section covers 184 RKM/368 TKM and is located in the Lucknow division of Northern Railway.

Financial Implication

The cost of the work is Rs 180,77,92,324.55. This project is expected to be completed within 24 months. The awarded contract is part of the company’s normal business operations.

Source: BSE

Adani Green Energy has incorporated two new wholly-owned, step-down subsidiaries: Adani Hydro Energy Thirteen Limited (“AHE13L”) and Adani Hydro Energy Sixteen Limited (“AHE16L”). These companies were incorporated on November 21, 2025, under Adani Saur Urja (KA) Limited (“ASUKAL”). The aim is to generate, develop, transform, distribute, transmit, sell, and supply power or electrical energy using renewable sources.

New Subsidiary Companies

Adani Green Energy Limited announced the incorporation of two new step-down subsidiaries, Adani Hydro Energy Thirteen Limited (“AHE13L”) and Adani Hydro Energy Sixteen Limited (“AHE16L”), on November 21, 2025. These companies are wholly-owned subsidiaries under Adani Saur Urja (KA) Limited (“ASUKAL”).

Details of the Newly Incorporated Entities

Both AHE13L and AHE16L are incorporated in India. Their authorized capital is Rs. 1,00,000, with paid-up capital also being Rs. 1,00,000 for each. As of the announcement date, neither entity has commenced business operations.

Business Objective

The primary objective of AHE13L and AHE16L is to generate, develop, transform, distribute, transmit, sell, and supply any kind of power or electrical energy using wind energy, solar energy, or other renewable sources of energy.

Shareholding

Adani Saur Urja (KA) Limited, a wholly-owned subsidiary of Adani Green Energy, holds 100% shareholding in both AHE13L and AHE16L.

Source: BSE

Tata Power has executed a Shareholders Agreement to acquire a 40% equity stake in a Special Purpose Vehicle (SPV) for the 1125 MW Dorjilung Hydro Power Project in Bhutan. The project, estimated at ₹13,100 crore, will be developed in partnership with Druk Green Power Corporation Limited (DGPC) and supports Tata Power’s commitment to clean and green energy. The first tranche of the acquisition is expected to close within 6 months.

Strategic Investment in Hydro Power

Tata Power is set to acquire a significant 40% equity stake in a Special Purpose Vehicle (SPV) that will focus on hydro power development. The move aims to boost Tata Power’s portfolio in clean and green energy, aligning with its strategic objectives for sustainable growth. This investment was formalized through a Shareholders Agreement executed with Druk Green Power Corporation Limited (DGPC) on November 21, 2025.

Project Details and Financial Commitment

The project centers around the development of the 1125 MW Dorjilung Hydro Power Project located in Bhutan. The total project cost is estimated at approximately ₹13,100 crore. Tata Power’s investment for the 40% equity stake will be approximately ₹1,572 crore, to be invested in one or more tranches. The company anticipates that the first tranche of this investment will be completed within the next 6 months.

Impact and Future Outlook

This acquisition marks a significant step for Tata Power in expanding its renewable energy footprint. The development of the Dorjilung Hydro Power Project supports the company’s commitment to accelerating its clean and green energy transition. This project is expected to enhance Tata Power’s long-term energy generation capabilities and contribute to a more sustainable energy future.

Source: BSE

United Breweries Ltd. has completed the registration process for land in Unnao, Uttar Pradesh, for a new Greenfield Brewery. This facility will manufacture both mainstream and premium products, including Heineken®, in both cans and bottles. This initiative aims to meet the strong category growth in Uttar Pradesh, with operations expected to commence by Q2 FY27.

Uttar Pradesh Brewery Update

United Breweries Ltd. (UBL) has finalized the registration of the lease deed for the industrial plot allocated by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) in Unnao district for its upcoming Greenfield Brewery.

Production Capabilities

The brewery will produce mainstream and premium brands, including Heineken®, and will have the capacity to produce both cans and bottles. This expansion strengthens UBL’s manufacturing capabilities and supports its long-term growth plans in India.

Projected Timeline

Originally announced in February 2025, this Greenfield Brewery aims to capitalize on the strong category growth in Uttar Pradesh. The facility is expected to be operational by Q2 FY27.

Earlier Announcement Details

The State of Uttar Pradesh is a key market for the Company, with business growing approximately 20% in 2024. Given these market conditions, the Board of Directors approved the investment in a greenfield brewery.

Key Project Figures

The new facility is anticipated to add a capacity of 1.0-2.0mhl, with an estimated investment of INR 750 crore, financed through a combination of debt and equity.

Source: BSE