Finolex Cables Limited has announced that its Board of Directors approved an amendment to the Company’s Code of Conduct at a meeting held on November 11, 2025. The amendment focuses on regulating, monitoring, and reporting trading activities by designated persons and their immediate relatives, in accordance with SEBI’s regulations. The amended code is available on the company website.

Insider Trading Code Amendment

The Board of Directors of Finolex Cables Limited has approved an amendment to the Company’s Code of Conduct during its meeting held on November 11, 2025. This amendment is designed to better regulate, monitor, and report trading activities conducted by designated individuals and their immediate family members.

Details of the Amended Code

The amended Code of Conduct aims to ensure compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. It includes provisions for:

• Regulating trading by designated persons.
• Monitoring trading activities.
• Reporting procedures for trading.

Availability of the Code

The amended Code of Conduct has been made available for review and can be accessed on the company’s website at www.finolex.com.

Key Definitions within the Amended Code

The updated code includes precise definitions to ensure clarity and compliance. Some important definitions include:

• Compliance Officer: Responsible for ensuring compliance with policies, maintaining records, and implementing the Code.
• Connected Person: Any person associated with the Company who has access to Unpublished Price Sensitive Information (UPSI).
• Designated Person: Connected persons, including directors, promoters, and key managerial personnel.
• Insider: Any person with access to UPSI.
• Trading: Subscribing, buying, or selling securities.
• UPSI: Unpublished Price Sensitive Information that could affect the price of securities.

Structured Digital Database

The company will maintain a structured digital database containing information on those who have access to UPSI, ensuring proper controls and time stamping.

Trading Window Closure Period

Designated persons and their immediate relatives cannot trade during the Trading Window Closure Period. This period starts at the end of every quarter and lasts until 48 hours after the declaration of financial results.

Penalties for Contravention

The code outlines penalties for non-compliance, including warnings and fines based on the severity and frequency of the violation.

Source: BSE

Aurobindo Pharma reported a 6% year-on-year increase in consolidated revenue, reaching ₹8,286 crores for Q2 FY26. EBITDA stood at ₹1,678 crores, with a margin of 20.3%, reflecting a 7% year-on-year growth. The company’s formulation business grew by 10%, contributing 88% of total revenue, driven by strong performance in the U.S., Europe, and key growth markets. The company expects to sustain growth momentum and drive value creation across all businesses.

Financial Performance

Aurobindo Pharma announced its financial results for the second quarter of fiscal year 2026, highlighting a 6% year-on-year increase in consolidated revenues, which reached ₹8,286 crores. This growth signifies the sustained business momentum throughout the first half of FY26.

The company’s EBITDA for the quarter stood at ₹1,678 crores, representing a margin of 20.3%, and demonstrating a 7% year-on-year growth. This performance reflects operating leverage, cost efficiency, and disciplined execution.

Business Segment Highlights

The formulation business reported a year-on-year growth of 10%, with revenues reaching ₹7,325 crores, contributing approximately 88% of the total consolidated revenues. This growth was primarily driven by strong performance in the U.S., Europe, and key growth markets.

U.S. revenues stood at $417 million. Excluding gRevlimid, the U.S. Oral Solid business delivered a healthy 6% quarter-on-quarter growth.

The European business maintained strong growth, delivering 18% year-on-year revenue growth, amounting to ₹2,480 crores. Aurobindo expects to comfortably surpass the 1 billion annual revenue milestone from Europe by the end of FY26.

Revenue from growth markets increased by 9% year-on-year to ₹882 crores, driven by strong volume growth.

Operational Updates

The Pen-G plant commenced operations on July 1, 2025, and produced around 1,050 MT during the quarter, operating at 40%-50% capacity.

Future Outlook

Aurobindo Pharma remains confident in sustaining its growth momentum and driving value creation across all businesses. This optimism is underpinned by expected volume expansion and a reasonably stable pricing environment. The company expects to deliver an internal margin target of 20%-21% for FY26.

Source: BSE

RITES Ltd. announced its Q2FY26 results, reporting revenue of ₹579 cr and PAT of ₹109 cr. The company declared a 2nd interim dividend of ₹2/share. The results showed double-digit sequential growth. RITES secured an all-time high order book of ₹9090 crore, with over 150 orders worth more than ₹850 crore secured in Q2.

Financial Performance in Q2FY26

RITES Ltd. reported operating revenue of ₹549 crore for Q2FY26. EBITDA reached ₹134 crore, up by 24.7%, with margins of 24.4%. Profit After Tax (PAT) stood at ₹109 crore, up by 32.2%, with margins of 18.8%. This reflects positive growth compared to the same period last year, driven by consultancy and export segments.

H1FY26 Consolidated Results

The company’s total revenue for H1FY26 stands at ₹1091 crore. EBITDA for the half-year reached ₹250 crore, a 16.3% increase, with margins at 24.1%. PAT for H1FY26 was reported at ₹200 crore, up by 15.6%, with margins of 18.3%. This performance underscores a steady growth trajectory and improved profitability.

Segment Performance

The Consultancy business remains a significant contributor, achieving revenue of ₹298 crore with margins of 32.9%. Leasing revenue contributed ₹43 crore, maintaining margins of 29.8%. Turnkey projects generated ₹113 crore in revenue, while exports amounted to ₹61 crore. These figures highlight a diversified revenue stream and strong performance across key business areas.

Dividend Announcement

The Board of Directors has declared a second interim dividend of ₹2 per share, amounting to ₹96 crore. The record date for determining eligible shareholders is November 15, 2025. This dividend reflects the company’s commitment to delivering value to its shareholders.

Order Book and Future Outlook

RITES Ltd. has secured over 150 orders worth more than ₹851 crore in Q2FY26, achieving an all-time high order book of ₹9090 crore as of September 30, 2025. The company is focused on efficient project execution to maintain its growth momentum.

Source: BSE

NALCO has addressed queries regarding recent movements in its share volume. The company asserts it promptly discloses all material information as per regulatory requirements. NALCO also highlights its recent disclosure of unaudited financial results for the second quarter (Q2: Jul-Sep) and half-year ending September 30, 2025. The company attributes the volume increase to market dynamics and affirms its commitment to high governance and disclosure standards.

Response to Share Volume Queries

NALCO has responded to inquiries concerning recent trading volumes of its shares. The company maintains that it is compliant with disclosure norms and promptly disseminates all pertinent information.

Unaudited Financial Results Disclosure

The company references its disclosure of unaudited financial results for the 2nd quarter (Q2: Jul-Sep) and half-year ended September 30, 2025, which was released to the Stock Exchanges on November 7, 2025.

Interim Dividend Announcement

NALCO also refers to the Board’s decision to distribute a first interim dividend of ₹4 per share, which is 80% on the face value of ₹5. This decision impacts the financial year 2025-26.

Market-Driven Volume Increase

NALCO believes the increase in trading volume of its shares is purely market-driven. It reiterates its commitment to upholding high standards of governance and transparency.

Source: BSE

Shree Renuka Sugars announces that its wholly-owned subsidiary, KBK Chem-Engineering Private Limited, has allotted equity shares worth ₹573.65 Million. The allotment was approved on November 10, 2025, and involved 2,49,122 equity shares at an issue price of ₹2,302.69 per share. This allotment was made on a rights basis, converting a loan extended by Shree Renuka Sugars to KBK into equity.

Equity Share Allotment by KBK

Shree Renuka Sugars has announced a significant development regarding its wholly-owned subsidiary, KBK Chem-Engineering Private Limited (KBK). On November 10, 2025, the Board of Directors of KBK approved the allotment of equity shares.

Details of the Allotment

The allotment consisted of 2,49,122 equity shares, each with a face value of ₹100. These shares were issued at a price of ₹2,302.69 per share (including a premium of ₹2,202.69 per share), bringing the total value of the allotment to ₹573.65 Million. The allotment was made on a rights basis, converting an equivalent amount of loan extended by Shree Renuka Sugars to KBK into equity.

Acquisition Completion

With this allotment, Shree Renuka Sugars formally announces that the acquisition of shares of KBK has been successfully completed.

Source: BSE

Northern TK Venture Pte. Ltd., along with PACs, has completed its open offer for Fortis Healthcare. The acquirer obtained 1,778 Equity Shares through the offer. Post-acquisition, the acquirer’s shareholding stands at 31.2%. Public shareholding is now 68.8%. The offer price was INR 170 plus applicable interest for original shareholders. The offer closed on November 4, 2025, with consideration paid on November 10, 2025.

Open Offer Completion

The open offer by Northern TK Venture Pte. Ltd. for acquiring equity shares of Fortis Healthcare Limited has been completed. The offer officially closed on November 4, 2025. The consideration was paid out to shareholders on November 10, 2025. The original offer price was INR 170 per Equity Share, with applicable interest payable to original shareholders.

Details of Shares Acquired

Through the open offer, the acquirer successfully obtained 1,778 Equity Shares of Fortis Healthcare. The total size of the offer, considering the number of equity shares multiplied by the offer price, amounted to INR 302,260.

Updated Shareholding Pattern

Following the completion of the open offer, the shareholding structure of Fortis Healthcare has been updated. The acquirer now holds 235,295,895 Equity Shares, representing 31.2% of the expanded voting share capital. Post offer, public shareholding stands at 519,662,253 Equity Shares or 68.8% of the expanded voting share capital.

Source: BSE

Hexaware Technologies has launched advanced insurance solutions on Google Cloud, strengthening their partnership. These AI-driven solutions focus on Claims Management, and Insurance Product Delivery and Management. The new offerings aim to accelerate digital transformation through automation, AI, and cloud-native architectures for the insurance industry, promising enhanced efficiency and speed.

New AI-Driven Insurance Solutions

Hexaware Technologies (NSE: HEXT) has expanded its collaboration with Google Cloud by launching two new insurance solutions developed exclusively for the platform. The solutions are designed to modernize critical aspects of the insurance value chain through automation and AI. These offerings address the increasing need for digital transformation in the insurance sector with scalable, cloud-native architectures.

Parametric Claims Solution

Hexaware’s parametric claims solution automates the full life cycle of parametric insurance claims. The platform integrates real-time data from sources like IMD, NOAA, and Google Earth Engine. It employs self-governing AI agents to handle trigger detection, data validation, and claims settlement, reducing settlement timelines significantly. This integrated approach enhances efficiency and transparency throughout the claims process. All operational data is unified within Google BigQuery.

Intelligent Product Delivery Platform

The intelligent platform from Hexaware transforms the insurance product delivery lifecycle. It provides brokers, (re)insurers, and MGAs with an AI-assisted, low-code environment. Powered by Vertex AI and Gemini Enterprise, it enables the autonomous creation and configuration of new insurance products directly from natural-language prompts and unstructured documentation. This innovation facilitates faster and more flexible product development, optimizing business insights through real-time analytics via Looker and a BigQuery data foundation.

Executive Commentary

Shantanu Baruah, President & Global Head – Healthcare, Life Sciences & Insurance, Hexaware, stated that the solutions enhance their Google Cloud partnership and aim to help brokers, (re)insurers, and MGAs modernize claims and product development. Christina Lucas, Global Director & Market Leader, Insurance, Google, added that the collaboration applies Google Cloud’s AI capabilities to deliver measurable impact in the insurance industry. Apurva Kadakia, Global Head of Cloud, Hexaware, mentioned the deepening partnership with Google Cloud, aligning insurance solutions natively to industry needs for scale and governance.

Source: BSE

Bharti Hexacom reported consistent performance in its Q2 earnings call, with revenue at Rs. 2,317 Crores, a sequential growth of 2.4%. EBITDAAL reached Rs. 1,098 Crores, with a margin of 47.5%. The company focuses on enhancing customer experience, network expansion, and strategic capital allocation to sustain growth. Seasonality impacted customer additions, but Q3 shows positive momentum. FWA is a key technology for penetration in its circles.

Financial Performance Overview

Bharti Hexacom reported a revenue of Rs. 2,317 Crores in the second quarter, demonstrating a sequential increase of approximately 2.4%. The company’s EBITDAAL stood at Rs. 1,098 Crores, resulting in a healthy margin of 47.5%.

Customer Base and ARPU

The revenue-earning customer base reached 28 million, experiencing a slight sequential decrease. Smartphone customer additions amounted to 193,000. ARPU for the quarter was reported at Rs. 251, benefiting from an additional day in the quarter and improved portfolio mix.

Homes Business and FWA

The Homes business continues to exhibit strong momentum, driven by solid net additions. In Q2, net customer additions reached 60,000, marking the highest number in any quarter. FWA (Fixed Wireless Access) plays a crucial role in the company’s strategy, particularly in its operational circles.

Balance Sheet and Free Cash Flow

Bharti Hexacom maintains a robust balance sheet. The operating free cash flow, defined as EBITDAaL minus capex, was strong at Rs. 730 Crores. Net debt, excluding leases, is approximately Rs. 2,814 Crores, with a net debt to EBITDAaL ratio of about 0.6x.

Factors Affecting Performance

The company noted that pronounced seasonality had an impact on customer additions. However, there is optimism that this will be corrected in Q3. Rajasthan experienced significant rainfall, leading to some disruption of public services and contributing to the observed seasonality.

Strategic Outlook and Key Technologies

Bharti Hexacom remains focused on customer acquisition and delivering high-quality services. FWA is identified as an important technology for ensuring Wi-Fi penetration across its circles. The company also aims to capitalize on content-driven packs to attract and retain customers.

Bharti Airtel’s Perspective

Bharti Airtel sees growth due to its ability to attract customers with content offerings. FWA continues to play an important role in increasing Wifi penetration in both circles. It has been noted that the first adopters tend to use packs with higher prices, while the marginal customers are more likely to select lower priced packs. Despite the mix shift of the customer base that can affect the ARPU, the customer lifetime value continues to be high.

Source: BSE