Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding (MoU) with Tata Steel Limited to explore potential collaboration in raw material mining, logistics, pellets, and steel making. This partnership aims to leverage synergies and explore opportunities in Gadchiroli, Maharashtra, potentially increasing iron ore production and evaluating existing integrated steel projects. The MoU also covers greenfield steel projects and value-added products.

Strategic Collaboration with Tata Steel

Lloyds Metals and Energy Limited has formalized a non-binding Memorandum of Understanding (MoU) with Tata Steel Limited, marking a significant step towards exploring strategic partnerships in the metals and energy sector. The MoU, announced on December 10, 2025, focuses on potential cooperation in areas critical to steel production.

Key Areas of Cooperation

The collaboration aims to examine opportunities in several key areas:

• Raw material mining
• Logistics
• Pellets
• Steel making

The intended partnership will explore synergies between Lloyds Metals and Tata Steel, potentially leading to cooperation in greenfield steel making projects, iron ore mining, and the production of value-added low carbon iron and steel products.

Focus on Gadchiroli Opportunities

Under the MoU, both companies plan to investigate opportunities within the Gadchiroli district of Maharashtra, including:

1. Operating mining concessions to increase iron ore production.
2. Evaluating strategic cooperation in existing integrated steel projects being developed by Lloyds Metals.

Tata Steel’s Presence

Tata Steel, with a crude steel making capacity of 35 MTPA, is one of the leading steel companies globally. The company has integrated steelmaking facilities and a diverse product portfolio.

Lloyds Metals’ Expansion

Lloyds Metals currently operates the largest iron ore mine in India, located in Gadchiroli. The company is expanding into integrated steel manufacturing, aiming to position Gadchiroli as an emerging steel hub.

Commitment to Growth

Lloyds Metals is dedicated to enhancing its production capabilities and contributing to the sustainable development of the steel sector in India.

Source: BSE

Ambuja Cements has been assigned an ‘Aspiring’ Environmental, Social, and Governance (ESG) rating of 65 by NSE Sustainability Ratings and Analytics Limited. This rating highlights the company’s commitment to enhancing its ESG performance for the Financial Year 2025. The company has uploaded this intimation on its website.

ESG Performance Recognized

Ambuja Cements has received an Environmental, Social, and Governance (ESG) rating of 65, categorized as ‘Aspiring’, from NSE Sustainability Ratings and Analytics Limited. This assessment is for the Financial Year 2025.

Commitment to Sustainability

This ESG rating reflects Ambuja Cement’s dedication to improving its environmental, social, and governance practices. The ‘Aspiring’ rating indicates the company’s continued efforts to integrate sustainability into its operations and business strategy. The announcement was made on December 10, 2025.

Source: BSE

Lloyds Metals will acquire up to a 50% equity stake in Nexus Holdco FZCO through its subsidiary, Lloyds Global Resources FZCO (LGRF), for up to USD 55 million. Nexus holds interests in mining concessions and a copper processing plant in the Democratic Republic of Congo. Additionally, the company approved a non-binding Memorandum of Understanding (MOU) with Tata Steel to explore cooperation in raw material mining, logistics, pellets, and steel making.

Acquisition of Nexus Holdco FZCO

Lloyds Metals and Energy Limited announced that its Board has approved the acquisition of up to a 50% equity stake in Nexus Holdco FZCO through its wholly-owned subsidiary, Lloyds Global Resources FZCO (LGRF). Nexus Holdco holds approximately 80-90% equity stake in Surya Mines SARL and eight other companies, which collectively possess mining concessions and a copper processing plant in the Democratic Republic of Congo.

The consideration for the 50% equity stake is up to USD 55 million. This acquisition is expected to be completed by the end of June 2026. The acquisition will allow Lloyds Metals to expand its existing mineral exploration and processing business.

Partnership with Tata Steel Limited

The Board also approved entering into a non-binding Memorandum of Understanding (MOU) with Tata Steel Limited. This MOU aims to explore potential cooperation in areas such as raw material mining, logistics, pellets, and steel making.

Board Meeting Outcomes

The decisions were made during a board meeting held on December 10, 2025, which commenced at 04:03 P.M. (IST) and concluded at 05:13 P.M. (IST).

Source: BSE

Tata Steel has approved the acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL) from Thriveni Earthmovers Private Limited (TEMPL) for a consideration of up to ₹636 crore. The acquisition aims to secure a pellet-making facility for the supply of iron ore pellets to Tata Steel in India. This strategic move aligns with Tata Steel’s long-term growth strategy.

Strategic Acquisition Approved

Tata Steel’s Board has approved the acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL) for a consideration of up to ₹636 crore. This acquisition was announced on December 10, 2025 and is subject to regulatory approvals.

Rationale for the Acquisition

The primary objective of this acquisition is to secure a dedicated pellet-making facility. This facility will ensure a stable and reliable supply of iron ore pellets for Tata Steel’s operations within India. The acquisition directly supports Tata Steel’s strategy to strengthen its raw material supply chain.

Details of Thriveni Pellets

Thriveni Pellets Private Limited (TPPL) holds 100% stake in Brahmani River Pellets Limited (BRPL). BRPL operates a 4 MTPA (million tonnes per annum) pellet plant located in Jajpur, Odisha, along with a 212 Kilometer slurry pipeline.

Financial Performance of TPPL

Key financial figures for TPPL include:

• Turnover for FY 2024-25: ₹2,479.34 crore
• Turnover for FY 2023-24: ₹2,487.55 crore
• Turnover for FY 2022-23: ₹2,614.04 crore
• Profit After Tax for FY 2024-25: ₹(45.14) crore
• Profit After Tax for FY 2023-24: ₹43.74 crore
• Profit After Tax for FY 2022-23: ₹32.53 crore
• Net worth as of FY 2024-25: ₹1,472.80 crore
• Net worth as of FY 2023-24: ₹1,268.70 crore
• Net worth as of FY 2022-23: ₹1,224.96 crore

Long-Term Strategy and Expansion Plans

Tata Steel is also pursuing other strategic initiatives to drive growth in India. These include:

• A 4.8 MTPA capacity expansion at Neelachal Ispat Nigam Limited (NINL).
• Setting up of a 2.5 million tons Thin Slab Caster and Rolling facilities at Tata Steel Meramandali.
• Setting up a 0.7 MTPA Hot Rolled Pickling and Galvanizing Line (HRPGL) at Tarapur, Maharashtra.

Partnership in Maharashtra

Tata Steel has signed a MoU with Lloyd Metals & Energy Ltd to explore opportunities in the Gadchiroli district of Maharashtra. These include iron ore mining, logistics, and the potential development of a 6 million tons steel capacity plant.

Hisarna Technology

Tata Steel is also focused on low-carbon technologies and plans to set up a demonstration plant for its Hisarna technology in Jamshedpur, with a capacity of around 1 MTPA.

Source: BSE

NSE Sustainability Ratings and Analytics Limited, a SEBI registered ESG Rating Provider, has assigned SBFC an ESG rating of 64 for the financial year 2024-25. This rating is based on publicly available data, as the Company has not engaged NSE Sustainability Ratings and Analytics Limited for the ESG rating. Information on the rating is available on the company website.

ESG Rating Update

SBFC has received an Environmental, Social, and Governance (ESG) rating of 64 for the financial year 2024-25. The rating was assigned by NSE Sustainability Ratings and Analytics Limited.

Details of the Rating

The ESG rating was prepared independently by NSE Sustainability Ratings and Analytics Limited, using data available in the public domain. SBFC did not engage the rating provider for this assessment. The ESG report was received by the company on December 9, 2025.

Accessing the Report

Further details regarding the ESG rating are available on SBFC’s website.

Source: BSE

Nestlé India successfully concluded one-on-one meetings with institutional investors on December 10, 2025. The meetings, conducted virtually, involved discussions with investors at 12:00 P.M. (IST) and 3:30 P.M. (IST). The company has confirmed that no unpublished price-sensitive information was shared during these interactions, aligning with regulatory guidelines. Information about these meetings has been uploaded to the company website.

Institutional Investor Engagement

Nestlé India has announced the successful completion of one-on-one meetings with its institutional investors. These meetings took place on December 10, 2025, and were conducted virtually.

Meeting Details

Two separate meetings were held:

1. One-on-one meet with an institutional investor: Wednesday, 10th December 2025 at 12:00 P.M. (IST).

2. One-on-one meet with an institutional investor: Wednesday, 10th December 2025 at 3:30 P.M. (IST).

Information Disclosure

The company affirms that no undisclosed, price-sensitive information was discussed or disseminated during these meetings. The company has made this information available on its website.

Source: BSE

Tata Steel has acquired a 50.01% stake in Thriveni Pellets Private Limited (TPPL) for up to ₹636 crore. TPPL operates a 4 MTPA pellet plant in Jajpur, Odisha. The company also announced expansion plans, including a 4.8 MTPA capacity increase at Neelachal Ispat Nigam Limited (NINL) and investments in downstream facilities and mining assets. Tata Steel aims for sustainable growth and low-carbon technologies.

Thriveni Pellets Acquisition

Tata Steel has finalized an agreement to acquire a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL) from Thriveni Earthmovers Private Limited (TEMPL) for a consideration of up to ₹636 crore, subject to closing adjustments. TPPL owns 100% stake in Brahmani River Pellets Limited (BRPL), which operates a 4 MTPA pellet plant at Jajpur, Odisha, along with a 212 Kilometer slurry pipeline. This acquisition secures a crucial pellet-making facility for Tata Steel’s operations in India.

Capacity Expansion at Neelachal Ispat Nigam Limited (NINL)

The board has approved, in principle, a 4.8 MTPA capacity expansion at Neelachal Ispat Nigam Limited (NINL). This Phase 1 expansion will allow Tata Steel to expand its long products portfolio and capitalize on growth in the construction sector in India through new products and solutions.

Investment in Flats Products

Tata Steel has approved funds for design and engineering work related to setting up a 2.5 million tons Thin Slab Caster and Rolling facilities at Tata Steel Meramandali. Regulatory approvals are in progress. This expansion will increase the capacity for thinner gauge products by 2.5 MTPA.

Downstream Expansion

A 0.7 MTPA Hot Rolled Pickling and Galvanizing Line (HRPGL) will be established at the existing Cold Rolling Complex in Tarapur, Maharashtra. This facility aims to meet the needs of automotive customers and promote import substitution.

Partnership with Lloyd Metals & Energy Ltd

Tata Steel has signed a Memorandum of Understanding (MoU) with Lloyd Metals & Energy Ltd to explore opportunities in the Gadchiroli district of Maharashtra, including iron ore mining, logistics (including slurry pipeline), pellet, and steel making. This includes operating mining concessions to increase iron ore production, developing a greenfield 6 million tons steel capacity in two phases, and strategic cooperation in integrated steel projects developed by Lloyds Metals & Energy Limited (LMEL).

Focus on Low-Carbon Technology

Tata Steel is planning to set up a demonstration plant with around 1 MTPA capacity in Jamshedpur. The company owns the global intellectual property rights of the HIsarna process technology.

Source: BSE

Chambal Fertilisers has received an order from the Agriculture and Farmers Welfare Department regarding certain fertiliser products. The order, dated December 9, 2025, pertains to the withdrawal of 11 listed products. The company believes it has a strong case and intends to challenge the order.

Order Details

Chambal Fertilisers has been notified of an order issued by the Agriculture and Farmers Welfare Department of Haryana, Panchkula. The order relates to Clause 31(1) of The Fertiliser (Inorganic, Organic or Mixed) (Control) Order, 1985 (FCO, 1985).

Impact on Products

The order mandates the withdrawal of 11 products listed therein (other than bulk fertilisers). The date of receipt of the order is 09.12.2025.

Legal Action

The company views the order as a violation of provisions outlined in Clauses 8, 35(1)(b) and 35(4) of the FCO, 1985. While the company anticipates no material impact on its financials or operations, it intends to challenge the order before the appropriate forum.

Unintentional Delay

The company has reported a minor unintentional delay in furnishing the required information.

Source: BSE

Sagility has received an order from the Income Tax Department, Government of India, resulting in a tax demand of ₹351.3 million (including interest) for the assessment year 2022-23. The company believes this demand is not maintainable and plans to appeal before the Income Tax Appellate Tribunal. This assessment order is not expected to have a material impact on the company’s financials or operations.

Income Tax Assessment

Sagility has received an assessment order under section 143(3) read with section 144C(13) read with section 144B of the Income Tax Act, 1961, from the Income Tax Department. The order pertains to the assessment year 2022-23.

Key Financial Impact

The order includes a tax demand of ₹351.3 million, which incorporates interest. The Income Tax Authority has made transfer pricing and other adjustments, increasing the returned income for the assessment year 2022-23 by ₹1,079.9 million.

Company Response

Sagility intends to challenge the demand and, based on advice from its tax advisors, will appeal the order before the Income Tax Appellate Tribunal within the specified timelines. The company does not anticipate any material impact on its financial performance or operational activities due to this assessment order.

Source: BSE

Mankind Pharma has received a Goods and Services Tax (GST) order from the Patna authority relating to discrepancies in GST returns. The order, received on December 10, 2025, pertains to financial years 2018-19 to 2022-23, with a levied penalty of INR 15,31,70,825. Mankind Pharma intends to appeal the order and believes it has sufficient grounds to do so.

Details of the GST Order

Mankind Pharma has been issued an order by the Office of the Principal Commissioner, Central GST & Central Excise, Patna, on December 10, 2025. This order was issued by the Joint Commissioner (“Department”).

Financial Impact and Company Response

The order relates to alleged discrepancies in the company’s GST returns, specifically disallowance of Input Tax Credit (ITC) on account of reconciliation differences. The order spans financial years 2018-19 to 2022-23 and levies a penalty of INR 15,31,70,825.

Mankind Pharma intends to file an appeal against this order with the appellate authority. Based on its assessment, the company believes that it has adequate factual and legal grounds to challenge the order and does not anticipate any material adverse impact on its financials, operations, or other activities.

Next Steps

Mankind Pharma will take appropriate actions, including filing an appeal. The company maintains that there is no material impact expected on its financials, operations, or other activities due to this order.

Source: BSE