Akzo Nobel India has received a certificate confirming compliance with SEBI regulations regarding depositories and participants for the quarter ended September 30, 2025. The certificate, issued by C. B. Management Services Pvt. Ltd., the Registrar and Transfer Agent (RTA), ensures adherence to regulatory requirements for dematerialization of securities.

Compliance Certificate Received

Akzo Nobel India has obtained a certificate confirming adherence to regulatory standards concerning depositories and participants. The certificate, dated October 8, 2025, was issued by C. B. Management Services Pvt. Ltd., the company’s Registrar and Transfer Agent (RTA).

Details of Compliance

The certificate specifically addresses compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter that ended on September 30, 2025.

The RTA confirmed the dematerialization of securities as per regulatory requirements. Securities received from depository participants for dematerialization during Q2 2025 have been duly processed and verified. All security certificates received for dematerialization have been mutilated and cancelled after verification, and the records have been updated accordingly.

Source: BSE

CARE Ratings has reaffirmed the A1+ rating for Rashtriya Chemicals and Fertilizers Limited’s (RCF) Commercial Paper (CP) issue, valued at ₹3,000 crore. The rating reflects RCF’s established market position, diverse product portfolio, efficient operations, and strong government backing. The rating considers the cyclicality of the chemical industry and dependence on subsidy budget.

Rating Reaffirmation Details

CARE Ratings Limited has reaffirmed the A1+ rating for Rashtriya Chemicals and Fertilizers Limited’s commercial paper. This rating applies to a CP issue amounting to ₹3,000 crore. The reaffirmation underscores RCF’s solid financial standing and operational efficiency within the fertilizer sector.

Key Rating Drivers

The rating is supported by several factors, including RCF’s established position in the domestic fertilizer industry and its diverse product range, which includes urea, complex fertilizers, and industrial chemicals. RCF benefits from vertically integrated operations and its strategic relationship with the Government of India, which holds a 75% equity stake. The plants have been operating with optimal capacity and healthy energy efficiency. The company has a strong liquidity position.

Factors to Consider

The rating is offset by the regulated nature of the fertilizer industry. Delays in subsidy receipts from the Government of India can impact operations. The cyclicality of the industrial chemical business and forex rate fluctuations are other factors. RCF is undertaking capex plans, which are primarily debt-funded.

Financial Performance

RCF’s operating performance improved in FY25 with the PBILDT margin increasing to 3.16% from 2.01% in FY24. This improvement was primarily due to reduced fuel costs. The company’s capital structure is comfortable, with gearing improving to 0.58x as of March 31, 2025.

Planned Capex

RCF is undertaking a capex of approximately ₹3,000 crore over the next two years. This includes establishing a new NPK plant and revamping the ammonia plant at Thal. The NPK plant with capacity of 1200 TPD is estimated to cost ₹1,400 crore.

Source: BSE

United Breweries has received a certificate regarding compliance with the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for Q2 (July-September) 2025. The certificate, dated October 7, 2025, confirms the dematerialization of securities during the quarter and compliance with the regulations.

Compliance Confirmation

United Breweries has announced the receipt of a compliance certificate concerning the regulations governing depositories and participants. This certificate pertains to Q2 (July-September) 2025.

Details of the Certificate

The certificate, issued by Integrated Registry Management Services Private Limited on October 7, 2025, confirms that all securities received for dematerialization during the quarter have been processed according to the regulations.

Integrated Registry Management Services Private Limited confirms that securities from depository participants for dematerialization during Q2 2025 were confirmed or rejected by them. The certificate also states that the securities comprised in the certificates have been listed on stock exchanges and the certificates received for dematerialization have been mutilated and cancelled after due verification.

Source: BSE

Coal India Limited (CIL) and IRCON International Limited have executed a non-binding Memorandum of Understanding (MoU) on October 8, 2025, in Kolkata. The MoU aims to foster collaboration for the development of rail infrastructure for CIL and its subsidiaries. This partnership intends to leverage the expertise of both organizations to enhance coal transportation efficiency and support future growth initiatives. This information is intended for record-keeping.

Collaboration for Rail Infrastructure

Coal India Limited (CIL) has formalized its intent to collaborate with IRCON International Limited through a Memorandum of Understanding (MoU) signed on October 8, 2025. This MoU focuses on the development of critical rail infrastructure to support Coal India’s operations and its subsidiaries.

Focus on Development

The primary objective of this non-binding agreement is to facilitate the development of rail infrastructure specifically tailored to the needs of CIL. This will support more efficient and reliable transportation of coal, a crucial element in the company’s supply chain.

Source: BSE

IIFL Finance announces the appointment of Girish Kousgi as the Managing Director and CEO of its subsidiary, IIFL Home Finance Limited, effective from October 30, 2025. The appointment is for a term of five years or until superannuation, whichever occurs earlier. Kousgi brings nearly three decades of experience in banking and finance to the role.

Leadership Change at IIFL Home Finance

IIFL Finance has appointed Girish Kousgi as the Managing Director and Chief Executive Officer (CEO) of IIFL Home Finance Limited, a material subsidiary of the company. The appointment takes effect from October 30, 2025.

Appointment Details

Girish Kousgi’s term will last for five years, or until his superannuation, whichever is earlier. Kousgi brings extensive experience in the financial sector, with nearly three decades of work across banking and finance. His expertise includes managing assets and liabilities, retail lending, mortgage, SME, and Agri business. He has experience with home loans, business loans, LAP, personal loans, mortgages, deposits, retail, and rural products.

Kousgi’s Background

Prior to this appointment, Mr. Kousgi held leadership positions at several reputed institutions, including as MD & CEO of PNB Housing Finance Limited and Can Fin Homes Limited. He also held key roles at Tata Capital Financial Services Limited, IDFC Bank Limited, and ICICI Bank Limited.

Mr. Kousgi holds an Executive Masters Diploma in Business Administration and a bachelor’s degree in Commerce (B.Com).

No Related Party Transactions

Mr. Kousgi is not related to any other director of IIFL Home Finance Limited.

Source: BSE

Coromandel International has issued a certificate concerning the dematerialization/rematerialization of securities for the quarter ended September 30, 2025. The certificate, provided by KFin Technologies Limited, confirms compliance with regulatory requirements. This announcement ensures shareholders and stakeholders that the company is adhering to necessary standards for managing securities.

Compliance Certificate Issued

Coromandel International has obtained a certificate related to the dematerialization and rematerialization of the company’s securities. This certificate covers the period ending September 30, 2025, and was issued by KFin Technologies Limited, the Registrar and Share Transfer Agent.

Details of the Certificate

The certificate confirms that the company has adhered to the necessary procedures related to handling both the dematerialization and rematerialization of securities. The information required has also been furnished to all relevant stock exchanges where the company’s shares are listed.

KFin Technologies’ Role

KFin Technologies Limited served as the Registrar, Share Transfer, and Depository Services agent for Coromandel International during this period. They have verified the details of the securities dematerialized/rematerialized during the relevant quarter, ensuring compliance with regulations and reporting requirements.

Source: BSE

Union Bank of India has released its statement of debt securities for the half year ended September 30, 2025. The announcement, dated October 8, 2025, includes details of issued and outstanding debt securities as per SEBI regulations. Key details include ISIN numbers, issuance and maturity dates, coupon rates, and embedded options. The total outstanding amount is ₹16638.00 Crore.

Debt Securities Overview

Union Bank of India has provided its statement regarding debt securities issued and outstanding as of September 30, 2025. This disclosure, dated October 8, 2025, complies with regulatory requirements for transparency in debt portfolios.

Key Debt Security Details

The following table summarizes the bank’s debt securities, as detailed in the announcement:

Source: BSE

CARE Ratings has revised the outlook on Aavas Financiers’ long-term credit ratings to Positive from Stable, reaffirming the CARE AA rating. This reflects expectations that Aavas will sustain healthy business growth and profitability while maintaining comfortable asset quality. The ratings factor in Aavas’ healthy margins and low credit costs.

Rating Outlook Upgrade

CARE Ratings revised the outlook on Aavas Financiers Limited’s long-term rating to Positive from Stable, reaffirming the CARE AA rating for all instruments. This revision reflects CareEdge Ratings’ expectations that Aavas will sustain healthy business growth and profitability while maintaining a comfortable asset quality. Aavas is expected to report 18% growth in its assets under management (AUM) in FY26 while keeping its credit costs under control.

Key Rating Drivers

The ratings continue to factor in Aavas’ healthy margins and low credit cost on account of consistently comfortable asset quality metrics. As of June 30, 2025, Aavas maintained a strong liquidity profile and positive mismatches in its asset liability management (ALM) statement. The rating also takes into account an adequate capitalization and gearing level, supported by healthy internal accruals.

Financial Performance and Ratios

Aavas reported a net profit of ₹574 crore in FY2025, translating into a return on average total assets (RoTA) of 3.3% and a return on average tangible net worth (RoNW) of 14.3%. As of June 30, 2025, gross stage 3 (GS3) stood at 1.2%, with net stage 3 (NS3) at 0.8%. The capital-to-risk weighted asset ratio (CRAR) was 44.3% with AUM/TNW at 4.7x.

Rating Sensitivities

Positive Factors:

Significant improvement in scale of operations while maintaining healthy profitability and asset quality with GNPA below 1.5% on a sustained basis.

Improvement in geographical diversification.

Negative Factors:

Weakening in profitability with return on total assets (RoTA) declining below 2.5% on a sustained basis.

Deterioration in asset quality metrics or capitalisation profile.

Weakening in capitalisation profile with managed gearing remaining above 7x on a sustained basis.

Source: BSE

The Shipping Corporation of India (SCI) has confirmed that no securities were received for dematerialization during the quarter ended September 30, 2025. A certificate received from Alankit Assignments Limited, the Registrar and Share Transfer Agent (RTA), confirms compliance with SEBI regulations, stating that no securities were mutilated or cancelled, and no changes were made to the register of members.

Dematerialization Status

The Shipping Corporation of India confirms compliance with regulations regarding dematerialization of securities for the quarter ended September 30, 2025. No securities were received from depository participants for dematerialization during this period.

Confirmation from Registrar

Alankit Assignments Limited, the Registrar and Share Transfer Agent (RTA) for The Shipping Corporation of India, provided a certificate confirming the absence of any dematerialization activity. According to the certificate dated October 7, 2025, no securities were received for dematerialization, ensuring the integrity of the register of members. This confirms that no securities certificates were mutilated or cancelled during the specified quarter.

Source: BSE