Hindustan Zinc has received an order imposing a penalty of ₹70,45,448, along with applicable interest, related to the disallowance of Input Tax Credit. The disallowance pertains to input services from April 2018 to March 2023. The company intends to appeal the order, expecting a favorable outcome and no material financial impact.

GST Penalty Order Received

Hindustan Zinc has received an order from the Assistant Commissioner of the Central Goods and Service Tax – Udaipur imposing a penalty of ₹70,45,448 along with applicable interest. The order, dated September 30, 2025, was received by the company on October 11, 2025.

Details of Disallowance

The penalty arises from the disallowance of Input Tax Credit (ITC) concerning input services utilized between April 2018 and March 2023.

Company’s Response

Hindustan Zinc plans to appeal the order before the Appellate Authority within the stipulated timeframe under GST Law. Based on the merits of the case, the company anticipates a positive resolution and does not foresee any significant financial repercussions resulting from this order.

Source: BSE

Asian Paints has announced the commencement of commercial production at its manufacturing facility in Fujairah, United Arab Emirates (UAE). This facility is operated by Asian White Inc. FZE, a subsidiary of Asian White Cement Holding Limited (AWCHL). The new plant will boost the company’s capacity to manufacture and export white cement and white cement clinker, initially targeting 2,65,000 tons per annum.

Fujairah Plant Starts Production

Asian Paints has officially commenced commercial production at its new manufacturing plant located in Fujairah, UAE, effective October 12, 2025. The facility is operated by Asian White Inc. FZE, which is a wholly owned subsidiary of Asian White Cement Holding Limited (AWCHL).

Expansion of White Cement Capacity

The Fujairah plant will primarily focus on manufacturing and exporting white cement and white cement clinker. As previously announced, the plant has an initial capacity of 2,65,000 tons per annum. The establishment of this facility aligns with the company’s strategic objectives to increase its presence in the global white cement market and better serve international demand.

Background of the Project

In the Financial Year 2023-24, Asian Paints incorporated Asian White Cement Holding Limited (AWCHL) as a joint venture. AWCHL is located in Dubai International Financial Centre, United Arab Emirates (UAE). Asian White Inc. FZE, operating in the Fujairah Free Zone, UAE, is a wholly owned subsidiary of AWCHL created for this manufacturing and export business.

Source: BSE

Kotak Mahindra Bank announced that the merger of Sonata Finance Private Limited with BSS Microfinance Limited has been completed, effective October 11, 2025. Both Sonata and BSS were wholly-owned subsidiaries of the Bank. With the merger now effective, Sonata Finance has ceased to be a subsidiary of Kotak Mahindra Bank. This strategic move aims to streamline operations within the microfinance sector.

Merger of Sonata and BSS Concluded

Kotak Mahindra Bank has completed the amalgamation of its subsidiaries, Sonata Finance Private Limited and BSS Microfinance Limited, effective October 11, 2025. The merger was previously communicated on August 12, 2024.

Details of the Amalgamation

The amalgamation was executed as a Scheme of Amalgamation, with Sonata Finance Private Limited merging into BSS Microfinance Limited. Both entities were wholly-owned subsidiaries of Kotak Mahindra Bank. Following the merger, Sonata has ceased to be a subsidiary of the Bank.

Source: BSE

Signature Global reported pre-sales of INR 46.5 billion for the first half of FY26. Collections reached INR 18.7 billion during the same period. The average sales realization jumped to INR 15,000 per sq. ft. in Q2 FY26. Net debt rose to INR 9.7 billion due to land acquisition in Sohna. The company remains confident in sustaining growth momentum.

H1 FY26 Performance Highlights

Signature Global announced strong pre-sales figures for the first half of FY26, reaching INR 46.5 billion. This represents pre-sales for both Q1 (Apr-Jun) and Q2 (Jul-Sep). In addition to strong pre-sales, the company reported collections of INR 18.7 billion for the same period, indicating solid revenue realization from ongoing projects.

Key Metrics for Q2 FY26

During Q2 FY26 (Jul-Sep), Signature Global achieved pre-sales of INR 20.1 billion and collections of INR 9.4 billion. The average sales realization increased significantly to INR 15,000 per sq. ft., compared to INR 12,457 per sq. ft. in FY25, reflecting improved pricing and product mix.

Strategic Land Acquisition

The company’s net debt increased slightly to INR 9.7 billion due to the acquisition of 33.47 acres of land in Sohna, a key micro market. This land has a development potential of approximately 1.76 million sq. ft., which will support future growth. This move strengthens their project pipeline and sets the stage for future launches.

Management Outlook

According to Mr. Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, the company’s performance reflects the strength of its brand and strategic focus on sustainable growth. He stated that Signature Global maintains healthy pre-sales and strong collections, supported by steady demand in its core micro markets and is confident in sustaining growth momentum in coming quarters.

Source: BSE

Signature Global announced Q2FY26 pre-sales of INR 20.1 billion, compared to INR 27.8 billion in Q2FY25. Average sales realization stood at INR 15,000 per sq. ft. Collections for the quarter reached INR 9.4 billion. The company acquired 33.47 acres of land, with 30.86 acres in the ‘Sohna’ micro-market. Net debt stood at INR 9.7 billion at the end of H1FY26.

Operational Highlights for Q2FY26

Signature Global has released its key operational updates for Q2FY26, providing insights into its pre-sales, sales realization, collections, and business development activities.

Pre-Sales Performance

The company achieved pre-sales of INR 20.1 billion in Q2FY26, a decrease compared to INR 27.8 billion in Q2FY25.

Sales Realization

Average sales realization stood at INR 15,000 per sq. ft. in Q2FY26, compared to INR 12,457 per sq. ft. in FY25.

Collections Update

Collections for Q2FY26 amounted to INR 9.4 billion, slightly higher than INR 9.2 billion in Q2FY25.

Business Development

During Q2FY26, Signature Global acquired 33.47 acres of land, with 30.86 acres located within its existing key micro-market, ‘Sohna’. The overall development potential of this land is approximately 1.76 million sqft.

Net Debt Position

The company’s net debt stood at INR 9.7 billion at the end of H1FY26, compared to INR 8.8 billion at the end of FY25.

Performance Summary (Amount in billion)

Source: BSE

Reliance Power has authorized specific Key Managerial Personnel (KMP) to determine the materiality of information and disclosures to stock exchanges. This authorization empowers designated individuals to manage the dissemination of key company information, ensuring compliance and transparency with regulatory requirements. The contact details of these authorized personnel are also provided for investor and stakeholder communication.

Key Personnel Authorization

Reliance Power has announced the authorization of Key Managerial Personnel (KMP) to determine the materiality of information and for disclosures to the Stock Exchanges. This authorization, effective as of October 11, 2025, empowers designated individuals to manage the dissemination of critical company information, enhancing transparency and ensuring compliance.

Authorized Key Managerial Personnel

The following individuals have been authorized:

Source: BSE

Reliance Power has appointed Shri Arup Ashok Gupta as a Non-Executive and Non-Independent Director, effective October 11, 2025. Additionally, Shri Neeraj Parakh, Executive Director and Chief Executive Officer, will take on additional responsibilities as interim Chief Financial Officer. These changes were announced following a Board of Directors meeting, reinforcing the company’s leadership structure.

Board Leadership Changes

Reliance Power has announced key changes to its Board of Directors, effective October 11, 2025. These changes reflect the company’s ongoing efforts to strengthen its leadership team.

Appointment of New Director

Shri Arup Ashok Gupta has been appointed as a Non-Executive and Non-Independent Director. Shri Gupta brings over 40 years of experience in Human Resources across various industries, with a strong background in organizational design and leadership development. He has been with the Reliance Group for the past 16 years and has held senior HR positions in other prominent organizations.

Interim CFO Announcement

Shri Neeraj Parakh, currently serving as the Executive Director and Chief Executive Officer, will assume additional responsibilities as the interim Chief Financial Officer. Shri Parakh has been with Reliance for over 20 years and has extensive experience in project execution, operations, and procurement. He has been instrumental in delivering large-scale projects totaling over 10 GW of power generation.

Shri Arup Ashok Gupta’s Expertise

Shri Gupta holds a Bachelor’s degree in Science (Microbiology) and a Master’s in Management Studies (Marketing) from the University of Mumbai. His expertise includes organizational design, productivity enhancement, and leadership hiring.

Shri Neeraj Parakh’s Background

Shri Parakh is an engineering graduate in Production Engineering and holds an MBA. He has significantly reduced the organization’s reliance on imports by localizing procurement for power plants and mining projects. His contributions span technology selection, vendor localization, and regulatory compliance.

Source: BSE

Reliance Power’s Executive Director and CFO, Ashok Kumar Pal, has resigned effective October 11, 2025, due to an ongoing investigation. Pal communicated his decision to the Board through his counsel, maintaining his innocence. The resignation follows his arrest on October 10, 2025, related to an Enforcement Directorate case. The company has attached requisite disclosure concerning the resignation.

Executive Director’s Departure

Ashok Kumar Pal, the Executive Director and CFO of Reliance Power Limited, has tendered his resignation. The resignation, effective October 11, 2025, is connected to an ongoing investigation.

Circumstances of Resignation

Pal communicated his decision to resign to the Board of Directors through his legal counsel. He stated he was the original complainant in an FIR dated November 11, 2024, which led to an Enforcement Directorate case where he was arrested on October 10, 2025. Considering the investigation’s pendency, he tendered his resignation.

Executive’s Statement

In his statement, Ashok Kumar Pal maintained his innocence, stating he is not involved in any wrongdoing. He is tendering his resignation considering his arrest and the pending investigation until his name is cleared. A formal letter of resignation will follow on October 13, 2025.

Source: BSE

Biocon has announced that its manufacturing site in Cranbury, New Jersey, has successfully undergone a GMP inspection. The facility is designed to support capacity expansion and enhance supply chain efficiency. The inspection concluded with one observation that the Company will address promptly. The Cranbury facility aims to provide faster access to Biocon’s portfolio and plays a vital role in Biocon’s mission to deliver affordable therapies globally.

Cranbury Facility Update

Biocon has announced the completion of a GMP (Good Manufacturing Practice) inspection at its manufacturing site in Cranbury, New Jersey. This inspection is a key step following the inauguration of the facility and signifies its readiness to support Biocon’s strategic objectives in the United States.

Inspection Outcome and Impact

The inspection concluded with one observation, which Biocon is committed to addressing within the stipulated timeframe. The company anticipates that this matter will be resolved promptly and that the resolution will not have any significant impact on its ongoing business operations.

Strategic Importance

The Cranbury facility represents a strategic advancement of Biocon’s operations in the United States. Its primary goal is to enable faster access to Biocon’s integrated portfolio of products. With some products already commissioned from this site and additional launches planned, the facility will play a crucial role in advancing Biocon’s mission to expand access to high-quality, affordable therapies on a global scale. The facility was inaugurated in September and will support capacity expansion and efficiency in the supply chain.

Source: BSE