IRB Infrastructure Trust has secured the TOT-17 project from NHAI, covering 366 km of the Lucknow-Ayodhya-Gorakhpur and Lucknow-Varanasi corridors. The project, awarded for an upfront fee of Rs. 9,270 Crores, involves tolling, operation, maintenance, and transfer for a 20-year concession period. This win increases IRB’s market share in the TOT segment to 42% and expands its asset portfolio significantly.

Project Overview

IRB Infrastructure Trust has been awarded the TOT-17 project by the National Highways Authority of India (NHAI). This project encompasses 366.096 km of key highway sections in Uttar Pradesh, including the Lucknow-Ayodhya-Gorakhpur corridor (NH-27) and part of the Lucknow-Varanasi corridor (NH-731).

Key Project Details

The project involves Tolling, Operation, Maintenance, and Transfer of the following sections:

• Lucknow-Ayodhya Section of NH-28 (New NH-27): from km 15.400 to km 137.970
• Ayodhya-Gorakhpur Section: from km 136.759 to km 252.860 on NH-28 (New NH-27)
• Lucknow-Sultanpur Section of NH-731: from km 90.370 to km 217.795

Financial Aspects

IRB Infrastructure Trust will pay an upfront concession fee of Rs. 9,270 Crores to NHAI. The concession period is 20 years and is revenue-linked. The annual tariff revision includes a fixed 3% increase plus 40% of the Wholesale Price Index (WPI).

Strategic Impact

This project is expected to increase the Trust’s asset portfolio by approximately 20%, reaching around Rs 65,000 Crore. IRB Infrastructure Developers Ltd will act as the Project Manager.

Market Position

With this award, IRB’s platform now commands a 42% market share in the TOT space. The Group Asset Base is expected to exceed Rs. 90,000Crs and the O&M Order Book is expected to grow by approximately 20%.

Source: BSE

Alembic Pharmaceuticals has secured USFDA final approval for Diltiazem Hydrochloride Tablets USP in multiple strengths (30 mg, 60 mg, 90 mg, and 120 mg). The approved ANDA is therapeutically equivalent to Cardizem Tablets and indicated for managing chronic stable angina. This approval adds to Alembic’s growing portfolio of ANDA approvals from the USFDA, reinforcing its presence in the US market.

USFDA Approval Received

Alembic Pharmaceuticals Limited announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Diltiazem Hydrochloride Tablets USP.

Tablet Strengths Approved

The approval encompasses Diltiazem Hydrochloride Tablets in strengths of 30 mg, 60 mg, 90 mg, and 120 mg.

Therapeutic Equivalence

The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Cardizem Tablets, in the same strengths manufactured by Bausch Health US, LLC. Diltiazem hydrochloride tablets are indicated for the management of chronic stable angina and angina due to coronary artery spasm.

ANDA Approval Totals

Alembic Pharmaceuticals now holds a cumulative total of 230 ANDA approvals, comprising 210 final approvals and 20 tentative approvals from the USFDA as of November 2025.

Source: BSE

DB Realty has announced an internal corporate restructuring involving its subsidiary, Valor Estate Limited. DB Contractors & Builders Private Limited, a wholly-owned subsidiary, will transfer its 45% stake/economic interest in Worli Urban Development Project LLP to MIG (Bandra) Realtors and Builders Private Limited, another wholly-owned subsidiary. This move aims to streamline administrative efficiency within the group.

Stake Transfer Announcement

DB Realty is undertaking an internal restructuring process to optimize its corporate structure. This involves the transfer of a significant stake in a key urban development project.

Details of the Transfer

DB Contractors & Builders Private Limited, a Wholly Owned Subsidiary (WOS) of DB Realty, will transfer its 45% stake/economic interest in Worli Urban Development Project LLP to another WOS, namely MIG (Bandra) Realtors and Builders Private Limited. This transfer is part of an internal corporate restructuring initiative designed to enhance administrative efficiency. The effective date of this transfer is November 14, 2025.

Worli Urban Development Project Overview

Worli Urban Development Project LLP is involved in real estate and construction activities. The total fixed capital contribution to the entity is Rs. 15,00,000. This internal stake transfer is not expected to have any impact on the ongoing operations or the future prospects of the Worli Urban Development Project.

Financial Implications

The cost of acquisition, represented by the fixed capital contribution, is Rs 4.50 Lacs. This restructuring aims to streamline administrative processes and is not anticipated to materially affect the overall financial performance of DB Realty.

Source: BSE

Tata Steel, through its indirect subsidiary Tata Steel IJmuiden B.V., will acquire 100% equity stake in LAG Velsen B.V. from Vattenfall for up to €140 million (~₹1,450 crore). The acquisition secures the power supply for Tata Steel Nederland’s IJmuiden operations, converting process gases into electricity, and ensuring continued operations. The deal is expected to close by January 1, 2026.

Strategic Acquisition of LAG Velsen B.V.

Tata Steel IJmuiden B.V. (TSIJ), an indirect, wholly-owned foreign subsidiary of Tata Steel Limited, has executed a Share Purchase Agreement with Vattenfall Power Generation Netherlands B.V. to acquire 100% equity stake in LAG Velsen B.V., an entity to be incorporated by Vattenfall. The acquisition is valued at up to €140 million (~₹1,450 crore).

Rationale for the Acquisition

The acquisition is aimed at securing a reliable power supply for Tata Steel Nederland’s IJmuiden operations. LAG Velsen B.V. will house three power plants currently owned and operated by Vattenfall. These plants convert gases from TSIJ’s steel production into electricity, essential for ongoing operations.

Details of the Target Entity

LAG Velsen B.V. is being incorporated by Vattenfall specifically for this transaction. It will encompass the Velsen Power Plants (VN24, VN25, and IJmond01), which have a total electric capacity of 770 megawatts. Turnover for these assets in CY 2024 is projected at €110.8m.

Terms and Approvals

TSIJ will pay a cash consideration of up to €140 million (~₹1,450 crore) for 100% shareholding in LAG Velsen B.V. The transaction is subject to regulatory approvals, including those from The Netherlands Authority for Consumers and Markets (ACM) and under the Dutch Electricity Act. The expected completion date is January 1, 2026.

Source: BSE

Finolex Industries reported a slight volume decrease of 6% in Q2 FY’26, alongside a 2% dip for H1 FY’26, primarily due to prolonged monsoons. Despite this, Q2 revenue grew by 4% to INR 859 crores, with EBITDA significantly increasing to INR 130 crores and PAT reaching INR 119 crores. Focus remains on growing the non-agri segment. The company holds a strong balance sheet with a net cash surplus of approximately INR 2,360 crores as of September 30, 2025.

Financial Performance

Finolex Industries experienced a marginal decrease in volume during Q2 FY’26, with a 6% drop to 65,336 metric tons compared to 69,341 metric tons in the corresponding quarter of the previous year. For H1 FY’26, the volume was down by approximately 2% at 157,645 metric tons. However, total income from operations for Q2 FY’26 improved by approximately 4% to INR 859 crores. EBITDA saw a significant increase, reaching INR 130 crores, and PAT rose to INR 119 crores.

Segment Performance

While the agri segment faced setbacks due to prolonged monsoons, the non-agri segment experienced a volume growth of around 7% during Q2 FY’26. The company continues to focus on expanding its presence in the non-agri sector. CPVC segment contributed to 8% of the total volume. CPVC is growing at double digits.

Outlook and Strategy

Finolex anticipates a mid-single-digit growth for the full fiscal year, with a continued focus on both agri and non-agri segments to manage business seasonality. The company expects demand in the agri segment to rebound in the third and fourth quarters. Long-term objective of reaching 50:50 agri-non-agri split remains.

Capacity and Capex

The company’s total capacity for pipes and fittings stands at 5,20,000 tons. Finolex intends to invest between INR 100 crores and INR 200 crores annually to support market growth through capacity expansion.

EBITDA Margin

The company aims to maintain an EBITDA margin between 10% and 12% for the full year, despite anticipating some margin cooling in the coming quarters due to an increasing agri mix.

Source: BSE

Lemon Tree Hotels has announced the signing of a new Keys Select property in Mahoba, Uttar Pradesh. The hotel will feature 52 well-appointed rooms, a restaurant, banquet hall, conference hall, swimming pool and fitness center. It will be managed by Carnation Hotels Private Limited. The group continues to expand its presence, catering to business and leisure travelers with this addition.

New Hotel Agreement

Lemon Tree Hotels has recently signed an agreement for a new Keys Select property in Mahoba, Uttar Pradesh. This latest addition reinforces Lemon Tree Hotels’ expansion strategy, aiming to cater to both business and leisure travelers in the region.

Property Details

The new Keys Select hotel in Mahoba will feature 52 well-appointed rooms and is equipped with modern amenities. It will include a restaurant, a banquet hall, and a conference hall, providing comprehensive services for guests. Additionally, recreational facilities like a swimming pool and a fitness center will enhance the guest experience.

Management and Location

The property will be managed by Carnation Hotels Private Limited, a subsidiary of Lemon Tree Hotels. Mahoba, Uttar Pradesh, is strategically located in the Bundelkhand region, serving as the district headquarters and offering a mix of historical and cultural attractions.

Strategic Expansion

Vilas Pawar, CEO – Managed & Franchise Business, Lemon Tree Hotels, stated, “With this signing, we will expand our leisure and business portfolio in Uttar Pradesh, a state where we have eight operational and 13 upcoming properties in addition to this one. The state, with its booming commerce, distinct culture and testament to India’s rich heritage, is the perfect destination for hospitality.” The signing aligns with the company’s vision of offering refreshing and comfortable stays across all destinations.

Source: BSE

Coromandel International has received approval for the reclassification of Coromandel Engineering Company Limited and Yanmar Coromandel Agrisolutions Private Limited from its promoter group. Approvals were granted by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on November 14, 2025. This reclassification follows the company’s application and earlier submissions regarding the change.

Promoter Group Restructuring

Coromandel International Limited announced the successful reclassification of two entities from its promoter group. The National Stock Exchange of India Limited (NSE) and BSE Limited granted their no-objection for the reclassification on November 14, 2025.

Companies Reclassified

The companies undergoing reclassification are:

Timeline of Key Events

The application for reclassification was initially submitted on September 26, 2025, with earlier related submissions made on August 30, 2025, September 17, 2025, and September 22, 2025. The final approvals from NSE and BSE mark the completion of this process.

Source: BSE

Amber Group, through its subsidiary IL JIN Electronics India, has entered into an agreement to acquire a majority stake in Shogini Technoarts Pvt Ltd. Shogini, based in Pune, is a manufacturer of Printed Circuit Boards (PCBs). This acquisition will enhance Amber Group’s PCB capabilities and drive localized manufacturing. The agreement was finalized on November 14, 2025.

Strategic Acquisition

Amber Group, via its Electronic division, IL JIN Electronics India Pvt Ltd, has formalized an agreement to purchase a majority stake in Shogini Technoarts Pvt Ltd, effective November 14th, 2025. This move aims to bolster Amber Group’s presence in the electronics manufacturing sector.

About Shogini Technoarts

Shogini Technoarts, located in Pune, Maharashtra, is a manufacturer specializing in Printed Circuit Boards (PCBs). Their product range includes single-sided, double-sided, multi-layered, metal clad, and flex PCBs.

Synergies and Vision

Mr. Jasbir Singh, Executive Chairman and CEO of Amber Group, stated that this acquisition strengthens the bare PCB vertical and supports Amber Group’s evolution into a full-stack, backward-integrated EMS company. The integration of Shogini, along with other facilities, will position Amber Group as a leading PCB manufacturer in India, offering solutions across various PCB types.

Mr. Abhijit Tamhankar, Chairman & Managing Director of Shogini, views the partnership as a pivotal moment to leverage synergies and scale the business, aiming to accelerate growth and enhance customer value.

Source: BSE