Firstsource Solutions Limited has appointed Kumaran Shanmuhan as its Chief Strategy Officer, effective September 15, 2025. This strategic move aims to advance Firstsource’s UnBPO™ vision, focusing on expertise, technology, and outcome-oriented solutions. Shanmuhan will lead the development and execution of the company’s long-term strategic agenda, driving innovation and aligning market trends with business priorities. He brings over two decades of experience in technology and business transformation.

Strategic Leadership Addition

Firstsource Solutions Limited has announced the appointment of Kumaran Shanmuhan as Chief Strategy Officer, effective September 15, 2025. This appointment is a strategic move to advance the company’s UnBPO™ vision, which focuses on expertise, technology, and outcome-oriented solutions.

Shanmuhan’s Role and Responsibilities

In his new role, Kumaran Shanmuhan will lead the development and execution of Firstsource’s long-term strategic agenda. His mandate includes driving alignment between market trends and business priorities, identifying high-impact growth opportunities, and embedding innovation within the organization. He will collaborate with the CEO and executive leadership team to translate strategy into measurable outcomes.

Industry Expertise

Kumaran Shanmuhan brings over two decades of strategic leadership in technology, operations, and business transformation. He has deep expertise in building and scaling consulting, product, platform, and go-to-market functions for SaaS and Al companies. In his previous role at Uniphore, he built and scaled the first Al consulting and industry solutions teams, fueling 70% year-over-year revenue growth.

Vision for the Future

The appointment reflects Firstsource’s strategic intent to lead in a future where relevance, agility, and technology-driven outcomes matter more than scale. Shanmuhan’s leadership will play a critical role in formalizing Firstsource as a trailblazer in reimagining outsourcing.

Source: BSE

Adani Enterprises Ltd. (AEL) has been awarded a Letter of Award (LoA) from National Highways Logistics Management Ltd. (NHLML) for the construction of a ropeway project connecting Sonprayag and Kedarnath. AEL will invest ₹4,081 crore in this project. The 12.9 km ropeway will reduce travel time from 8-9 hours to just 36 minutes and is expected to be completed in six years.

Ropeway Project Awarded

Adani Enterprises Ltd. (AEL) has secured a Letter of Award (LoA) from the National Highways Logistics Management Ltd. (NHLML) to build the ropeway project connecting Sonprayag with Kedarnath. This project will be executed by AEL’s Roads, Metro, Rail, and Water (RMRW) division.

Project Details and Impact

The 12.9 km ropeway project is set to significantly reduce travel time from an arduous 9-hour trek to just 36 minutes, making the pilgrimage easier and safer. The ropeway will have the capacity to carry 1,800 passengers per hour per direction. The project aims to serve lakhs of pilgrims each year, benefiting from Kedarnath’s annual influx of around 20 lakh pilgrims.

Investment and Timeline

Adani Enterprises Ltd. (AEL) will invest ₹4,081 crore in this project, marking its first ropeway venture. The project is part of the National Ropeways Development Programme – Parvatmala Pariyojana and will be developed on a Public-Private Partnership (PPP) basis. Completion is expected in six years, and AEL will operate it for 29 years after construction. The project is expected to create jobs and boost tourism in the region.

Leadership Perspective

Mr Gautam Adani, Chairman of the Adani Group, stated, “The Kedarnath ropeway is more than an engineering project – it is a bridge between devotion and modern infrastructure. By making this sacred journey safer, faster and more accessible, we honour the faith of millions while creating new opportunities for Uttarakhand’s people through our partnership with NHLML and the Government of Uttarakhand. This prestigious project reflects our commitment to building infrastructure that not only serves the nation but also uplifts its people.”

Source: BSE

Firstsource Solutions has appointed Mr. Kumaran Shanmuhan as Executive Vice President (EVP) and Chief Strategy Officer, effective September 15, 2025. Mr. Shanmuhan brings over two decades of experience in technology, operations, and business transformation. His expertise includes building and scaling consulting, product, and platform functions for high-growth SaaS and AI companies. The appointment is aimed at driving high-impact growth and accelerating enterprise AI adoption.

Executive Leadership Change

Firstsource Solutions Limited has announced the appointment of Mr. Kumaran Shanmuhan as the new Executive Vice President and Chief Strategy Officer, effective September 15, 2025. This strategic hire is expected to bolster the company’s growth initiatives and strengthen its position in the market.

Mr. Shanmuhan’s Background

Mr. Shanmuhan brings extensive experience in technology, operations, and business transformation. He has a proven track record of driving significant growth and enabling enterprise AI adoption. His expertise includes building and scaling consulting, product, platform, and go-to-market functions for high-growth SaaS and AI companies.

Prior to joining Firstsource, Mr. Shanmuhan built Uniphore’s AI consulting team. He also holds an MBA from the Kellogg School of Business, and a graduate engineering degree from BITS Pilani.

Source: BSE

NTPC Green Energy Limited announces the commencement of commercial operation for a portion of its renewable energy capacity, specifically 100 MW out of a total 500 MW plant. This project, executed through IRCON Renewable Power Limited, marks a significant step in NTPC’s green energy initiatives. The commercial operation began on September 17, 2025, boosting the group’s total installed capacity to 7372.575 MW.

Renewable Energy Milestone

NTPC Green Energy Limited (NGEL) has reached a key milestone with the successful commissioning and commencement of commercial operations for a portion of its renewable energy projects. The announcement, dated September 15, 2025, highlights NGEL’s commitment to expanding its green energy portfolio.

Project Details

The newly operational capacity is 100 MW (Lot-6), which is part of a larger 500 MW plant. This project is executed through IRCON Renewable Power Limited (IRPL), a joint venture involving Ayana Renewable Power Private Limited. The commercial operation took effect on September 17, 2025.

Capacity Expansion

With the addition of this 100 MW capacity, the total installed capacity of NTPC Green Energy Limited now stands at 7372.575 MW. This increase underscores the company’s growth in the renewable energy sector. The company’s previous capacity stood at 7272.575 MW.

Source: BSE

3M India has announced the receipt of Form 4 under the Vivad Se Vishwas Scheme. The company received the form on Friday, September 12, 2025, and subsequently submitted an announcement to BSE on Sunday, September 14, 2025, after allowing for necessary verification. The core details were previously disclosed on August 22, 2025, following receipt of Form 2 on August 21, 2025.

Form 4 Receipt Under Vivad Se Vishwas

3M India has received Form 4 for FY 2006-07 under the Vivad Se Vishwas Scheme. The company completed the initial receipt and verification process within two days.

Earlier Disclosures

The announcement emphasizes that the key details pertaining to this matter have already been shared with the stock exchanges in a prior corporate announcement dated August 22, 2025. This followed the receipt of Form 2 from the Principal Commissioner of Income Tax on August 21, 2025.

Supplementary Action

The current announcement is considered a supplementary action with no changes to figures or the substance of the previous disclosure. The company has requested that this clarification be taken on record.

Source: BSE

Piramal Enterprises Limited has announced an upcoming schedule for analyst and institutional investor meetings, along with an investor presentation. The Jefferies NBFC Tour is slated for September 19, 2025, in Gurgaon. The company also stated that the date is subject to change and an investor presentation will be made available.

Investor Meeting Announcement

Piramal Enterprises Limited (PEL) has announced its schedule for an upcoming Analyst/Institutional Investor Meeting, along with an investor presentation. The details of the meeting are as follows:

• Event: Jefferies NBFC Tour
• Date: September 19, 2025
• Location: Gurgaon
• Attendees: Investor group

The company noted that the date of the meeting is subject to change based on the needs of the investors or the company. Additionally, Piramal Enterprises will make available the investor presentation for those interested.

Corporate Overview

Piramal Enterprises is a diversified NBFC with a presence in retail and wholesale lending, alternatives, and insurance. As of March 2025, the total AUM stood at ₹85,756 Cr. The company has a retail AUM with INR 69,005 Cr as of June ’25.

Financial Performance and Key Metrics

• Consolidated AUM Growth (Mar’23 to Mar’25): 12% CAGR
• Growth Biz AUM Growth (Mar’23 to Mar’25): 45% CAGR
• FY25 Consolidated PAT: INR 485cr
• FY25 Growth Biz PBT: INR 896cr
• Credit Ratings: AA/Stable by ICRA (Mar ’25)

Retail Lending Highlights

• Retail AUM (June ’25): INR 69,005 Cr (37% YoY growth)
• Mortgages AUM (HL+LAP) (June ’25): INR 47,101 Cr (38% YoY; 68% of retail AUM)
• AUM Yield (June ’25): ~13.6%
• 90+ DPD (June ’25): 0.8%

Wholesale 2.0 Key Points

• AUM: INR 10,425 Cr as of June’25

Key Personnel

• Anand Piramal: Promoter, Executive Director
• Rupen Jhaveri: Group President
• Jairam Sridharan: CEO, Retail Lending
• Yesh Nadkarni: CEO, Wholesale Lending
• Kalpesh Kikani: CEO, Piramal Alternatives
• Vikash Singhla: CFO, Piramal Finance

ESG Framework

The company focuses on identifying and monitoring ESG risks, promoting corporate governance, sustainable finance, and climate strategies, and promoting diversity and financial inclusion.

Source: BSE

Great Eastern Shipping has contracted to sell its 2005-built Suezmax crude tanker, Jag Lok, of about 158,280 dwt on September 15, 2025, to an unaffiliated third party. The vessel’s delivery to the new buyer is expected by Q3 FY26. Following this sale, the company’s fleet consists of 38 vessels.

Vessel Divestiture

Great Eastern Shipping has announced the sale of its Suezmax crude tanker, Jag Lok, built in 2005. The transaction, finalized on September 15, 2025, involves an unaffiliated third party. The tanker has a capacity of approximately 158,280 dwt. The delivery of the vessel is anticipated in Q3 FY26.

Fleet Composition

Following the sale of Jag Lok, Great Eastern Shipping’s fleet consists of 38 vessels. This includes 26 tankers (5 crude tankers, 17 product tankers, and 4 LPG carriers) and 12 dry bulk carriers (2 Capesize, 8 Kamsarmax, and 2 Supramax). The aggregate capacity of the fleet is 3.04 Mn dwt.

Fleet Expansion Plans

In addition to the existing fleet, the company has contracted to purchase 2 secondhand Kamsarmax dry bulk carriers and 1 Suezmax crude tanker in Q2 FY26. These vessels are expected to join the fleet by Q3 FY26.

Source: BSE

JSW Energy’s appeal regarding the tariff for the 500 MW / 1000 MWh Standalone Battery Energy Storage Systems Project has been denied by the Appellate Tribunal for Electricity (APTEL). The company is now evaluating further remedies, including a potential appeal to the Hon’ble Supreme Court. The project was allocated to JSW Renew Energy Five Limited, a step-down subsidiary, by Solar Energy Corporation of India Limited (SECI).

APTEL Decision on Battery Storage Tariff

The Appellate Tribunal for Electricity (APTEL) has denied JSWREL’s appeal regarding the Central Electricity Regulatory Commission’s (CERC) order on the proposed tariff for the 500 MW / 1000 MWh Standalone Battery Energy Storage Systems Project. The order was issued on September 12, 2025.

Project Background

The project, intended for Solar Energy Corporation of India Limited (“SECI”), was allocated to JSW Renew Energy Five Limited (“JSWREL”). The original CERC order, dated January 2, 2025, did not adopt the proposed tariff. The initial disclosure about this was made on January 3, 2025.

Next Steps for JSW Energy

JSW Energy is currently evaluating further legal options, including the possibility of appealing the APTEL decision to the Hon’ble Supreme Court.

Source: BSE

IndusInd Bank has introduced a new Rupay credit card designed for e-commerce, offering rewards across various online platforms. The card provides 5% value on online spending and 1% on offline transactions, with redemption options including flights, hotels, and 500+ merchants. It aims to provide a seamless and rewarding experience for digital natives. This was announced on September 15, 2025.

E-Commerce Focused Credit Card

IndusInd Bank has launched a new Rupay credit card program, featuring rewards for e-commerce transactions. The card is designed to cater to digitally savvy customers who frequently shop online. The first card introduced under this program is the CRED IndusInd Bank Rupay credit card, as announced on September 15, 2025.

Key Features and Benefits

The CRED IndusInd Bank Rupay Credit Card comes with several benefits designed to enhance the online shopping experience:

• Earn 5% value online on all online shopping across merchants.
• Earn rewards offline at 1% on offline merchants and through UPI on CRED Scan and Pay.
• Redeem points across the CRED ecosystem, including over 500 CRED Pay merchants, 2,000+ products on CRED store, and flights and hotels.
• Effortless automatic points application across the ecosystem.
• Easy onboarding with zero joining fees and a 2-minute application process.

Statements from Leadership

Kunal Shah, founder of CRED, stated that the new credit card program turns every online spend into an act of self-expression, with rewards that follow taste, not terms. Instant redemption upgrades every transaction, merging product, platform, and privilege into a seamless lifestyle extension.

Mr. Soumitra Sen, Country Head – Consumer Banking & Marketing, IndusInd Bank, mentioned that the partnership with CRED is a natural fit, sharing a DNA of innovation, exclusivity, and premium experiences. The co-brand aims to capture the fast-growing e-commerce and affluent spend segment.

Source: BSE

Crompton has announced that Mr. Sundaram Damodarannair’s tenure as Non-Executive, Independent Director will conclude on September 17, 2025. The board has approved his appointment as an Additional, Non-Executive, Non-Independent Director and Chairman, effective September 18, 2025. This has led to a reconstitution of various board committees to accommodate the change.

Board Leadership Transition

Mr. Sundaram Damodarannair’s second term as Non-Executive, Independent Director and Chairman of the Board will conclude on September 17, 2025. He was first appointed on August 26, 2015. Following this, the Board approved his appointment as an Additional, Non-Executive Non-Independent Director, effective September 18, 2025, until he reaches 75 years of age, i.e., until April 15, 2028, pending shareholder approval.

Reconstitution of Board Committees

Due to Mr. Damodarannair’s new role, several Board committees have been reconstituted, effective September 18, 2025. The changes are as follows:

Audit Committee:

Mr. Sanjiv Kakkar remains Chairperson, with Mr. P R Ramesh and Mr. Sundaram Damodarannair as members.

Nomination & Remuneration Committee:

Ms. Smita Anand remains Chairperson, with Mr. Sundaram Damodarannair and Mr. Anil Chaudhry as members.

Stakeholders’ Relationship Committee:

Mr. Sundaram Damodarannair is now the Chairperson, with Ms. Hiroo Mirchandani, Mr. Shantanu Khosla, and Mr. Promeet Ghosh as members.

Corporate Social Responsibility Committee:

Mr. Shantanu Khosla remains Chairperson, with Ms. Smita Anand, Mr. Sundaram Damodarannair, and Mr. Promeet Ghosh as members.

Risk Management Committee:

Mr. P R Ramesh remains Chairperson, with Mr. Anil Chaudhry and Mr. Sundaram Damodarannair as members.

Postal Ballot Notice

A Postal Ballot Notice seeking member consent for the appointment of Mr. Sundaram Damodarannair as Non-Executive Non-Independent Director has been approved. Details will be communicated to members and stock exchanges.

Board Diversity Policy Approval

The Board has approved a Board Diversity Policy to enhance corporate governance, improve decision-making, and ensure better stakeholder representation.

Source: BSE