At least seven major drugmakers announced the launch of their generic versions of semaglutide on Saturday, the first day after the patent on semaglutide expired on Friday. Sun Pharmaceuticals, Zydus Lifesciences and Alkem announced a total of eight separate branded generic versions of semaglutide for obesity and diabetes indications. Besides Dr Reddy’s Laboratories, Torrent Pharma, Natco Pharma, Eris Lifesciences and Glenmark Pharmaceuticals have also announced their generic versions.
Index heavyweights
State Bank of India has received an income tax demand notice amounting to Rs 6,337.5 crore with interest. The PSU bank said it plans to challenge the order before the appellate authorities. It also said that the tax order will have no impact on its operations or business activities. The demand, it noted, has been raised pursuant to the scrutiny assessment proceedings conducted for AY24, and the bank is already in litigation on similar grounds for earlier years.
Kotak Mahindra Bank’s wholly-owned subsidiary (WOS) Kotak Mahindra Capital Company (KMCC) will divest 30.99 per cent shareholding in Infina Finance Private Ltd (Infina) for an aggregate consideration of about Rs. 1,294 crore. KMCC has entered into definitive agreements to sell a part of its shareholding in Infina, according to the private sector bank’s regulatory filing. The Bank’s WOS, which is a full-service investment bank, currently holds a 49.99 per cent stake in Infina.
Wipro Ltd has announced the launch of its Wipro AI-Data Centre (DC) solution, a standardised, secure stack designed to accelerate enterprise-scale AI adoption while modernising core data centre environments and transforming customer experience operations.
Infosys and Formula E have announced the launch of a new AI-powered Race Centre. Powered by Infosys Topaz, the Race Centre places fans at the centre of the action, using intelligent data to create an immersive race-day experience driven by cutting-edge AI and digital technology.
Tata group stocks
Tata Steel has marked a historic milestone in the Company’s journey toward sustainable steelmaking with the introduction of its scrap-based Electric Arc Furnace (EAF) facility at Hi-Tech Valley, Ludhiana. Built with an investment of approximately ₹3,200 crore, the Ludhiana EAF has a capacity of 0.75 million tonnes per annum. Designed to achieve carbon dioxide emissions less than 0.3 tonnes per tonne of steel, the plant represents a significant step in Tata Steel’s commitment to achieve Net Zero emissions by 2045.
Tata Capital has received a reassessment order from tax authorities, raising a demand of Rs 413.18 crore for the financial year 2017-18, the firm said. The order, issued by the Deputy Commissioner of Income Tax, Mumbai, under the Income-tax Act and uploaded on March 20, 2026, pertains to Tata Capital Financial Services Ltd (TCFSL), which has since been merged with Tata Capital with effect from April 1, 2023. The demand includes interest of Rs 202.72 crore and primarily arises due to alleged short credit of taxes paid and certain disallowances, Tata Capital said in a stock exchange filing on Saturday.
Fund infusion
The board of Ashok Leyland has approved an investment of up to GBP 30 million, or about Rs 375 crore, in its UK subsidiary, Optare Plc. The company will make this investment as equity in one or more tranches. Optare Plc manufactures and sells buses and commercial vehicles. The subsidiary holds the group’s electric vehicle initiatives, including Switch Mobility Limited in the UK and Switch Mobility Automotive Limited.
With a view to strengthening the balance sheet and funding the long-term business requirements of Restaurants Development Co Ltd, the board of Devyani International DMCC (DID), a subsidiary of Devyani International, has principally approved the investment of THB 1,210 million (Rs 347.3 crore). RD will partially use the investment to retire debt and fund its working capital and capex requirements.
Expansion plans
Varroc Engineering has announced the launch of the third edition of its flagship innovation challenge – Eureka Challenge 3.0 – Ignite Innovation. The initiative aims to engage and empower India’s brightest engineering minds to solve real-world challenges in the evolving mobility ecosystem.
BharatRohan Airborne Innovations Ltd, a pioneer in drone-based hyperspectral imaging solutions, has announced a strategic expansion of its dealer-led network to accelerate the growth of its drone services and Pravir bio-products business. BharatRohan aims to work closely with its dealer partners to improve farmers’ access to crop monitoring and drone-spraying services.
Merger & Demerger
The board of Thomas Cook (India) Limited has given in-principle approval to a proposal to demerge the company’s Resorts and Resort Management business into Sterling Holiday Resorts Ltd (SHRL) and to subsequently restructure TCIL’s capital. The proposed demerger and restructuring are subject to NCLT and other regulatory approvals. TCIL shareholders will receive 0.81 SHRL shares for each share. TCIL will continue to hold its current shareholding in SHRL post the demerger.
Veranda Learning Solutions (VLS) has moved a step closer to its proposed commerce vertical demerger and separately list J.K. Shah Commerce Education Limited (JSCEL), following directions from the National Company Law Tribunal (NCLT), Chennai Bench, under a Composite Scheme of Arrangement involving VLS, Veranda XL Learning Private Limited (VXLS), and JSCEL. The National Company Law Tribunal (NCLT), Chennai Bench, has directed VLS to convene a meeting of its equity shareholders on April 24 via video conferencing, to consider and approve the proposed Composite Scheme of Arrangement.
Dalmia Bharat’s wholly owned subsidiary — Dalmia Cement (Bharat) (DCBL), has entered into Share Subscription and Shareholders’ Agreement (SSSHA) and a Power Purchase Agreement (PPA) to acquire 26% stake in Ventora Energy, an SPV of Ultra Mega Power, in one or more tranches, at an aggregate consideration of around Rs 4.42 crore, to source wind power as a captive consumer for a capacity up to 8.1 MW located in Tamil Nadu.
New CEO for Vikram Solar
Vikram Solar Ltd has announced the appointment of Sameer Nagpal as its Chief Executive Officer (CEO), effective immediately. Sameer Nagpal brings over three decades of leadership experience across diverse industries, along with a proven track record of driving transformation, accelerating growth, and delivering sustained value creation in key leadership roles at Livguard Energy Technologies, Dalmia Bharat Group, Shalimar Paints, Ingersoll Rand, Zicom and Carrier Air Conditioning. His appointment marks a significant milestone as Vikram Solar advances its strategic vision to deepen backward integration, scale manufacturing capabilities, and reinforce its position in the global renewable energy landscape.
Order wins
RailTel Corporation of India Ltd has received the Letter of Acceptance (LoA) from East Coast Railway for outsourcing manpower to strengthen S&T maintenance activities in Khurda Road Division for a period of two years. The Estimated Size of the order as per LoA is Rs. 24.53 crore.
Airfloa Rail Technology has received an order worth Rs 22.91 crore from BEML for the design, manufacture, supply, testing & commissioning of lighting systems, including CMC Spares & tools, for the Cars of the Chennai Metro Rail Project – Phase-II. Supply will commence from November and will be completed within 17 months.
DCX Systems Limited has secured an order from a domestic customer for the manufacture and supply of Maritime Patrol Radar Systems (MPR) for the Airborne Application. The order value is Rs 563.45 crore.
IndiQube Spaces Ltd, an integrated tech-enabled workspace solutions provider, has signed a significant workspace leasing agreement with a leading GCC client in Pune. The GCC client has taken up 1140 seats at IndiQube Orchid, spread across multiple floors. The deal is valued at around ₹54 Crores over a 5-year tenure.
Simplex Castings Ltd has received a significant order win from SMS Group, valued at ₹23.13 crore, for the supply of Coke Oven Doors. These bookings strengthen the company’s order pipeline to ₹61.98 crore for the month of March 2026, providing a strong push to order inflows.
Ceigall Infra Projects Private Ltd, a Wholly Owned Subsidiary of Ceigall India Ltd, has emerged as the L1 bidder in the financial bid opening for tender by the National Highways Authority of India. The order involves the construction of a 6-lane access-controlled Spur connectivity starting in Punjab on Hybrid Annuity Mode. The order size is Rs. 603.00 crore (Bid Cost).
Solarium Green Energy has received purchase orders worth around Rs 22.51 crore exclusive of GST: Rs 14.10 crore for supply of BIS-certified 715/720 Wp Topcon N-type Bifacial Dual Glass Solar Panels for grid connected solar projects at Karnataka, Tamil Nadu, and Andhra Pradesh; and another purchase order worth around Rs 8.41 crore for supply of Solar Panel Non DCR Topcon Half Cut 132 Cell G12 (715/720 Wp G to G Make-Solarium) for projects in Puducherry.
Sharika Enterprises Ltd has received a Purchase order from Larsen & Toubro Limited for the supply of communicable FPIs for the RDSS Varanasi SCADA PuVVNL Project, valued at Rs. 9.47 crore.