The board of Tata Steel has approved the merger of Neelachal Ispat Nigam Limited (NINL) with itself and an investment of up to US $2 billion in its wholly-owned subsidiary T Steel Holdings Pte Ltd. The board also cleared the acquisition of a stake in Medica TS Hospital Private Limited (Medica TS Hospital) from Manipal Hospitals Eastern India Private Limited for ₹1.49 crore.
State Bank of India (SBI), the country’s largest lender, has raised ₹6,051 crore at a coupon rate of 7.05 per cent through its second Basel III compliant Tier 2 bond issuance for the current financial year. The bonds are issued for a tenor of 10 years, with a call option after 5 years and each anniversary date thereafter. They are rated AAA with stable outlook from CRISIL Ratings Limited and India Ratings and Research Private Ltd.
Varun Beverages has said that its South Africa-based subsidiary, The Beverage Company Proprietary Ltd (Bevco), has acquired Crickley Dairy Proprietary Limited. According to the agreement, Bevco will acquire 100 per cent equity stake of Crickley for an enterprise value of ZAR 238 million (₹131.47 crore), subject to regulatory and other approvals (if any), including but not limited to the Competition Commission of South Africa. The acquisition is in line with the official bottling partner of PepsiCo’s strategy to diversify its product portfolio into new categories viz. value-added dairy and juice-based drinks.
Shree Cement Limited has successfully secured mining rights for a 373-hectare limestone block in Andhra Pradesh’s YSR Kadapa District. The company was declared the preferred bidder for the Dommarnandyala-1 Limestone Block through a government e-auction, strengthening its raw material sourcing capabilities and operational infrastructure in southern India.
3 IT stocks
Wipro Ltd and Harness, the AI Software Delivery Platform company, have announced a strategic collaboration to help global enterprises accelerate AI-native software delivery with greater speed, reliability, and governance. As enterprises accelerate AI adoption, software delivery has become increasingly complex with many organisations continuing to rely on disconnected tools and manual processes. Wipro’s collaboration with Harness aims to address this challenge by combining Wipro’s agent-native delivery platform WEGA with Harness’ AI Software Delivery Platform.
Tech Mahindra London Limited (TMLL), a wholly owned subsidiary of Tech Mahindra, has entered into and executed a share sale and purchase agreement with Midad Company Ltd for the acquisition of 20 per cent equity shares in Tech Mahindra Arabia Ltd, a subsidiary of the company.
Hexaware Technologies, a global provider of IT solutions and services, has announced the launch of Agentverse, an enterprise AI agent platform featuring 600+ ready-to-deploy AI agents designed to help organisations operationalise agentic AI across business and technology functions.
Impact due to war
Industrial chemicals maker Tamilnadu Petroproducts Ltd, on Tuesday, March 17, said it has temporarily shut its Heavy Chemicals Division (HCD) plant to comply with the government’s order to prioritise using crude-based petroleum products towards LPG production.
As the supply of Liquefied Petroleum Gas has been affected following disruptions in global energy supply chains linked to the West Asia conflict, the manufacturing operations of one of two High Pressure Moulding Lines situated at Solapur plant have been affected temporarily with effect from March 17 till further notice. The management of Kirloskar Ferrous Industries Limited has been monitoring the current crisis in supply chain and exploring alternate sources of supply or use of other resources to minimise the impact of disruption.
Pharma majors
Aurobindo Pharma has said that the US Food and Drug Administration (USFDA) has classified one of its subsidiary units as “Official Action Indicated” (OAI) following an inspection conducted last year. In a regulatory filing, the company said that the USFDA inspected Unit-II of Eugia Pharma Specialities Limited, its wholly-owned subsidiary, located in Bhiwadi, Rajasthan, between November 3 and 14, 2025. At the end of the inspection, the regulator had issued a Form 483 with nine observations.
Strides Pharma Science Ltd (Strides) has said that its step-down subsidiary, Strides Pharma International AG (SPIAG), has entered into definitive agreements with Sandoz AG, Switzerland and its group entities (Sandoz) for the acquisition and in-licensing of a portfolio of branded generic products across Sub-Saharan Africa (SSA). The agreement spans four key markets—West Africa (covering 10 countries), Ghana, Nigeria, and Kenya. The branded generics portfolio of Sandoz, as a part of this deal, includes multiple brands across anti-infective, cardiovascular, and dermatology therapeutic segments. Several of these products individually deliver annual sales exceeding US $1 million, reflecting their established brand equity and market demand.
Infra/Defence order
NHPC Ltd has declared commercial operation (CoD) of Unit #1 (250 MW) of Subansiri Lower HE Project, 2000 MW (8 x 250 MW), Assam/Arunachal Pradesh from March 20. With this, CoD of 3 units i.e. Unit #1, Unit #2 and Unit #3 of Subansiri Lower HE Project has been declared and the CoD of remaining units will be intimated in due course.
Ceigall Infra Projects (CIPPL), a wholly owned subsidiary of Ceigall India (CIL) has emerged as the L1 bidder for: Construction and Development of the World Class Urban Street in Ludhiana On Hybrid Annuity Model Package 1 (Bid cost of ₹108 crore) and Construction and Development of the World Class Urban Street in Ludhiana On Hybrid Annuity Model Package 3 (Bid cost of ₹99 crore).
Digilogic Systems Ltd recently received purchase orders from Defence Research & Development Organisation for supply of Measurement Equipment, Test Equipment and Programmable DC power Supply worth ₹4 crore (excluding GST); and Integrated Test System for onsite checkout ₹3.15 crore (excluding GST).
Axis Solutions Ltd, as part of its strategic expansion into the Railway/Metro segment, has secured its first significant order worth ₹4.25 crore for the supply of High Voltage Transducers from Bharat Heavy Electricals Ltd.
Other financials
Paisalo Digital has completed its inaugural External Commercial Borrowing (ECB) transaction. The deal, amounting to US $15 million, marks a significant advancement in the company’s liability diversification journey.
Prithvi Exchange has received an In-Principle Approval from Visa for the launch of its Forex Card program, marking a key milestone in its product and digital expansion strategy. This approval signifies Visa’s preliminary validation of the company’s compliance framework, operational readiness, and customer onboarding processes, enabling Prithvi Exchange to proceed toward rollout, subject to completion of final requirements towards the BIN sponsorship model of issuance.