WSB Partners, a real estate-focused investment firm, has forayed into tier II markets with a ₹75 crore investment in Omaxe Group. The funding is against residential plotted projects in Ujjain and Indore, two high-growth Tier II markets benefiting from strong demand fundamentals and ongoing infrastructure development. Tier II and III cities are increasingly attracting institutional capital, driven by rising incomes, improving affordability, and significant infrastructure investments.
Mastek appoints Amit Gajwani as COO amid leadership transition
Mastek, a trusted AI-first digital engineering and cloud transformation partner, today announced the appointment of Amit Gajwani as Chief Operating Officer (COO), effective immediately. Amit succeeds Prameela Kalive, who will continue with Mastek until the end of June 2026 to ensure a smooth leadership transition ahead of her superannuation.
SPARC partner OcuVex gets US FDA CRL for glaucoma drug
Sun Pharma Advanced Research Company (SPARC)’s licensing partner, OcuVex Therapeutics, has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA). The CRL pertains to the New Drug Application (NDA) for PDP-716, a novel once-daily ophthalmic suspension intended for the treatment of glaucoma. While the FDA did not raise concerns about the drug’s clinical efficacy or safety, the rejection is based on manufacturing inspection issues at a third-party facility.
JSW Energy expands stake in Toshiba JSW Power Systems
JSW Energy has executed definitive agreements to acquire an additional equity stake in Toshiba JSW Power Systems (TJPS) through a secondary purchase of equity shares from Toshiba Corporation, Japan. Post-acquisition, the company’s shareholding in TJPS shall increase to 20.7% on a non-diluted basis and 10.7% on a fully diluted basis. The company has set a target to reach 30 GW of capacity by FY 2030, with Thermal Capacity expected to rise to 10,658 MW by FY 2030, from its current installed capacity of 5,658 MW. The acquisition of an additional equity stake in TJPS would strengthen the company’s access to steam turbine generators, enhance supply chain resilience, and support its thermal capacity expansion.
Jindal (India) completes ₹1,500-crore expansion in West Bengal
Jindal (India) Ltd has completed a Rs 1,500-crore capital expenditure programme in West Bengal with the commissioning of a new high-speed continuous colour coating line at its manufacturing complex in Howrah district. The commissioning comes months after the company operationalised a galvanising coating line, a cold-rolling mill, and a pickling facility in February, as part of its expansion project in the state. It manufactures coated flat-steel products, pipes, and aluminium foil at its facilities in Howrah.
Remsons Automotive UK secures global OEM contract
Remsons Automotive (UK), a step-down subsidiary of Remsons Industries, has secured a 6-year Hood Rod contract from a leading Global Commercial Vehicle OEM manufacturer. The contract is for the supply of Hood Rod, with deliveries starting in Q1 CY2027. The order, to be executed over 6 years, is valued at around Rs 30 crore.
Airfloa Rail Technology wins ICF Chennai order
Airfloa Rail Technology has bagged an order worth Rs 2.68 crore from the Furnishing Division of Integral Coach Factory, Chennai, Indian Railways. The order is for the supply and installation of 38 sets of panelling for walls, partitions, and the roof.
ITC increases stake in Mother Sparsh Baby Care
ITC has acquired an additional stake in Mother Sparsh Baby Care, raising its shareholding in the premium ayurvedic and natural personal care startup to 49.32% on a fully diluted basis. According to a stock exchange filing, ITC acquired 1,681 equity shares of Rs 10 each in the second tranche through a secondary purchase for a consideration of Rs 30 crore. Following the transaction, the company’s stake in Mother Sparsh increased from 39.47% to 49.32%.
NCLAT allows Lyka Labs appeal against Modi Lifecare
The NCLAT has allowed Lyka Labs’ appeal, overturning a previous NCLT order that had rejected its insolvency plea against Modi Lifecare Industries due to unpaid royalties stemming from a technical guidance agreement. The appellate tribunal has directed Modi Lifecare Industries to pay Rs 63 lakh within 30 days, failing which insolvency proceedings will be initiated against the Ahmedabad-based pharmaceutical manufacturing company.
Transformers and Rectifiers secures ₹175 crore order
Transformers and Rectifiers (India) Ltd has secured an order of Rs 175 crore from Bhanwariya Infra Projects. The order for transformers and reactors is scheduled for delivery by March 2028, according to a regulatory filing.