Federal Bank has increased its shareholding in Ageas Federal Life Insurance Company Limited (AFLIC) to 30%. This was achieved through the acquisition of 3,20,00,000 equity shares from Ageas for a total consideration of INR 97,44,00,000 (Rs. 30.45 per share). The acquisition was completed on November 11, 2025, following regulatory approvals and fulfillment of precedent conditions.

Increased Investment in AFLIC

Federal Bank has successfully increased its stake in Ageas Federal Life Insurance Company Limited (AFLIC). On November 11, 2025, the bank finalized the acquisition of additional equity shares, bringing its total ownership to 30%.

Details of the Acquisition

The bank acquired 3,20,00,000 equity shares of AFLIC from Ageas. The agreed-upon consideration for these shares was Rs. 30.45 per share, amounting to a total investment of INR 97,44,00,000. This transaction was executed in accordance with the Share Purchase Agreement (SPA) and subsequent agreements.

Strategic Rationale

This increased stake reflects Federal Bank’s strategic commitment to the insurance sector. With the acquisition now complete, Federal Bank anticipates greater synergy and value creation within its financial services portfolio. The deal was finalized after securing all necessary regulatory approvals and fulfilling the conditions outlined in the SPA dated 30.04.2025.

Source: BSE

Suzlon Energy Ltd. has announced exceptional Q2 FY26 results, marked by record-breaking execution and substantial growth. The company achieved its highest ever Q2 delivery, commissioning 565 MW. Revenues reached INR 3,866 crores, with an EBITDA of INR 721 crores. The non-fossil fuel capacity stands at 50%. Suzlon’s leadership has been strengthened with the appointment of Mr. Rahul Jain as Chief Financial Officer, effective December 15, 2025.

Exceptional Financial Performance

Suzlon Energy Ltd. reported consolidated revenue of INR 3,866 crores in Q2 FY26. The EBITDA reached INR 721 crores, reflecting a robust 145% increase year-on-year. The EBITDA margin improved by 460 basis points to 18.6%, up from 14.1% in the same quarter last year.

The profit before tax reached INR 562 crores, registering 179% year-on-year growth. The PAT significantly outperformed at INR 1,279 crores. The company recognized an incremental net deferred tax asset of INR 718 crores, based on the reasonable certainty of future profits. This brings the total deferred tax asset to INR 1,229 crores as of September 2025, which provides a tax shield on future profits to the tune of INR 5,000 crores.

Operational Highlights

Suzlon achieved a record-breaking quarter by delivering 565 MW in Q2 FY26, the highest ever Q2 in India in over 30-year history. The company’s order book has exceeded 6 gigawatts, reaffirming its market leadership with more than 2-gigawatt order win in the first half of FY26.

The manufacturing capacity of 4.5 gigawatts is fully operational and ramped up to meet the order book. Suzlon commissioned 270 MW in the first half of this financial year with a robust execution pipeline of 1,865 MW at various stages.

Strategic Developments

The company has identified 23-plus gigawatts of renewable potential sites, laying a strong foundation for sustained growth. Out of this, 7-plus gigawatts of land development are underway, ensuring rapid deployment readiness. Renom’s assets under management are set to expand further, driven by steady customer fleet acquisitions and the ongoing pipeline.

On leadership strengthening, Mr. Rahul Jain has been appointed as Chief Financial Officer, effective December 15, 2025.

Future Outlook

Suzlon remains committed to achieving its FY26 guidance of 60% year-on-year growth across all key performance parameters.

The company expects total wind installations to reach approximately 6 gigawatts by the end of FY26 and 8 gigawatts in FY27.

Source: BSE

AAVAS Financiers has announced the availability of the audio recording of its Earnings Conference Call, which took place on November 11, 2025. The call discussed the company’s financial and operational performance for the quarter and half-year ended September 30, 2025. The recording is accessible on the company’s website.

Earnings Call Recording Available

AAVAS Financiers has made available the audio recording of its recent Earnings Conference Call. The conference call, held on November 11, 2025, focused on discussing the company’s performance.

Performance Review

During the call, investors and analysts discussed the financial and operational performance of AAVAS Financiers for the quarter and half-year period ending on September 30, 2025. The audio recording allows stakeholders to review the details of this discussion.

Accessing the Recording

The audio recording of the Earnings Conference Call is available for playback on the company’s investor relations website.

Source: BSE

Britannia Industries reported a 4.1% top-line growth and 23.1% bottom-line growth for Q2 FY26. The company discussed the positive impact of GST rate rationalization, strategic priorities including product innovation and market share strategies. Britannia aims for volume-led growth, investing in core brands and competitive pricing while managing commodity price trends. They highlighted positive momentum in renewable energy and nutrition initiatives.

Financial Performance Overview

In Q2 FY26, Britannia Industries achieved a 4.1% increase in top-line growth alongside a substantial 23.1% growth in bottom-line. The company experienced some disruption due to GST implementation, impacting revenue by an estimated 2-2.5%. Despite this, they are optimistic about aggressive top-line growth moving forward.

Strategic Priorities and Initiatives

Britannia has strategically focused on consumer campaigns with new product launches under the Pure Magic brand and NutriChoice millet cookies. They relaunched Tiger Glucose with recipe improvements. Their adjacency businesses, including Croissant and Rusk, continue to show high double-digit growth.

Market Share and Competition

Britannia maintains a healthy gap over organized national players in market share. The company noted increased competition from local regional players, responding by creating healthy interactions and separate businesses for their channels. Certain national players are increasing focus on modern trade through discounts, a strategy Britannia is desisting from.

ESG and Sustainability

Britannia has increased its use of renewable energy by 13%, reaching almost 45%. They have also reduced water consumption in plants and increased the women factory workforce to 45%. Beneficiaries of the Britannia Nutrition Foundation are up by 22% to nearly 300,000.

GST and its Impact

The rationalization of GST rates, referred to as GST 2.0, has been a welcome move. About 85% of Britannia’s business experienced a change in GST rates, leading to some temporary de-stocking. The company marked up pricing as Rs. 4.50 and Rs. 9 for products originally priced at Rs. 5 and Rs. 10 to pass the benefit to consumers.

Looking Ahead

Britannia aims for volume-led growth through consumer-centric products and competitive pricing. They intend to invest behind their key core brands and are looking at product restages and media interventions. The company also plans to sustain margins through cost-saving initiatives. They expect double-digit growth, driven by a positive sentiment around consumer goods.

Source: BSE

Rail Vikas Nigam Limited (RVNL) addresses the fine levied by exchanges regarding non-compliance in Board composition for the quarter ended June 30, 2025. RVNL is actively working with the Ministry of Railways to fill the vacancy of Independent Directors. Reminder letters have been issued, but as a Government company, RVNL’s role in the appointment process is limited.

Board’s Response to Exchange Fine

RVNL acknowledges the fine imposed by the exchanges due to non-compliance regarding the composition of the Board for the quarter ending June 30, 2025. The matter was discussed and noted during the Board meeting held on November 11, 2025.

Independent Director Vacancy

The company is actively pursuing the appointment of Independent Directors, including a woman Independent Director, in consultation with the Ministry of Railways. RVNL has sent several reminders to expedite this process. As a Government Company, RVNL’s direct influence on the appointment of Directors is limited.

Continued Efforts for Compliance

RVNL is committed to complying with the requirements and is undertaking continuous follow-up actions with the relevant authorities to resolve the matter regarding Board composition. This announcement clarifies the company’s position and actions taken to address the non-compliance.

Source: BSE

Hexaware Technologies has provided an update regarding the ongoing dispute with a client. The parties were unable to reach a settlement through mediation. The company is now evaluating legal proceedings to recover outstanding amounts. Hexaware reserves all rights and remedies in this matter. This announcement was made on November 11, 2025.

Mediation Fails to Resolve Dispute

Hexaware Technologies announced that mediation efforts to resolve a dispute with a client have been unsuccessful. The company had previously disclosed its intention to pursue mediation.

Legal Action Under Consideration

Given the failure of mediation, Hexaware Technologies is now evaluating the initiation of legal proceedings. The company intends to recover outstanding amounts from the client and is prepared to assert all available legal rights, remedies, and defenses.

Source: BSE

KSB Limited has re-appointed M/s Dhananjay V. Joshi & Associates as their Cost Auditors for a period of one year, effective from January 1, 2026, to December 31, 2026. The re-appointment is subject to shareholder ratification at the upcoming Annual General Meeting. Dhananjay V. Joshi & Associates is a partnership firm located in Pune, with firm registration number “000030”.

Cost Auditor Re-appointment

The Board of Directors of KSB Limited, in their meeting held on November 11, 2025, approved the re-appointment of M/s Dhananjay V. Joshi & Associates as the Cost Auditors of the Company.

Appointment Details

The term for the re-appointment is for one year, commencing on January 1, 2026 and concluding on December 31, 2026. The remuneration for the Cost Auditors is subject to ratification by the shareholders at the upcoming Annual General Meeting.

About Dhananjay V. Joshi & Associates

Dhananjay V. Joshi & Associates is a partnership firm with Firm registration number “000030” based in Pune. CMA Dr. Dhananjay Vishnu Joshi (Membership No. 4923) is a partner and the signing member for Cost Audits conducted by the firm.

Source: BSE

Max Financial Services has announced the appointment of key managerial personnel. Mr. V. Krishnan is designated as Principal Officer. Mr. Nishant Kumar is appointed as Chief Financial Officer. Ms. Siddhi Suneja continues to serve as Company Secretary & Compliance Officer. The appointments are effective as of November 11, 2025.

Key Personnel Appointments

Max Financial Services has announced changes in its leadership team with the appointment and continuation of key managerial positions. These appointments are designed to ensure smooth operations and effective compliance.

Leadership Roles

The following personnel appointments have been made:

• Mr. V. Krishnan: Designated as Principal Officer.
• Mr. Nishant Kumar: Appointed as Chief Financial Officer.
• Ms. Siddhi Suneja: Continuing as Company Secretary & Compliance Officer.

Contact Information

Details for contacting the appointed personnel are as follows:

• Mr. V. Krishnan: [email protected]
• Mr. Nishant Kumar: [email protected]
• Ms. Siddhi Suneja: [email protected]

Office Address

The office location for these key personnel is at Max Towers, Level 21, Plot No. C-001/A/1, Sector 16-B, Noida – 201301. The contact telephone number is 0120 – 4743222.

Source: BSE