Ola Electric has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network, the company said in a release. With the launch of 3,200+ new stores co-located with service facilities, the company is committed to driving large-scale EV adoption enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India. With this expansion, Ola Electric has fulfilled its promise under its #SavingsWalaScooter campaign.

REC on Wednesday said it has formed a subsidiary for the evacuation of power from renewable energy projects in Madhya Pradesh.  REC said in an exchange filing. Rajgarh III Power Transmission Limited is a related party of REC Limited. The promoter, promoter group/ group companies do not have any interest in the new entity, except to the extent of its shareholding.

Domestic telecom gear maker HFCL inaugurated its defence equipment manufacturing facility in Hosur, Tamil Nadu, the company said. The new facility will produce defence technologies, including HFCL’s indigenously developed thermal weapon sights, electronic fuzes, high-capacity radio relay (HCRR) systems and surveillance radars. The facility has the capacity to manufacture up to 5,000 thermal weapon sights, 250,000 electronic fuzes, 1,000 units each of high-capacity radio relays and ground surveillance radars annually, the statement said.

Leading cement maker UltraTech has completed the acquisition of promoters a 32.72 per cent stake in India Cements Ltd, following which N Srinivasan and other promoters of the South-based cement maker have stepped down. The Aditya Birla Group firm has completed the acquisition of 10.13 crore equity shares of India Cements Ltd (ICL), representing 32.72 per cent of the equity share capital of the company. “This, together with the existing shareholding of 7.05 crore equity shares (22.77 per cent) of the equity share capital of ICL, has resulted in the Company’s shareholding increasing to 17.19 crore equity shares representing 55.49 per cent of ICL’s equity share capital,” UltraTech had informed in a late-night regulatory filing on Tuesday. Consequently, ICL “has become a subsidiary of the Company” with effect from December 24, 2024, it added.

Bharat Petroleum Corporation Ltd (BPCL) has picked Andhra Pradesh for setting up a new oil refinery-cum-petrochemical complex, which may be the last greenfield project in India which has detailed a very ambitious energy transition plan to net zero emissions. The board has accorded its approval to commence pre project activities for setting up of a greenfield refinery cum petrochemical complex in east coast at Andhra Pradesh at an estimated cost of Rs 6,100 crore.

State-owned BEML has inaugurated an incubation centre in Bengaluru. The Futuristic Product Innovation and Incubation Centre (FPIIC) was unveiled by Vice Admiral Krishna Swaminathan, AVSM, VSM, the Vice Chief of the Naval Staff, the company said in a statement. BEML CMD Shantanu Roy said, “The FPIIC is not only a hub for addressing immediate defence needs but also a platform for nurturing the innovative solutions of tomorrow.” BEML, under the Ministry of Defence, operates in three verticals construction and mining, rail and metro and defence and aerospace.

State-owned Indian Oil Corporation Ltd (IOCL) will invest Rs 61,000 crore to set up a naphtha cracker project at Paradip in Odisha, a statement said on Tuesday. A Memorandum of Understanding (MoU) for this will be signed between the Odisha government and the IOCL in January during the ‘Utkarsh Odisha – Make in Odisha 2025’ summit, it said. The foundation stone of the IOC’s upcoming Rs 4,352 crore yarn project at Bhadrak will also be laid at that time, it added.

Aurionpro Solutions has acquired Paris-based consultancy firm Fenixys in an all cash deal of 10 million euros (about Rs 90 crore).Fenixys provides capital markets services to leading banks and financial institutions across Europe and the Middle East.  The acquisition strengthens Mumbai-based Aurionpro’s banking and fintech strategy to expand its footprint in Europe and the Middle East, a company statement said.

The Board of Director of Salasar Techno Engineering Ltd will meet on December 30 to consider and approve, the proposed amalgamation of Hill View Infrabuild Ltd with itself.

Jauss Polymers. Informed the exchanges MoU has been entered between the company and Thota Subrahmanyam and Thota Kanaka Durga for sale of entire shareholding of the jauss Polymers Limited held in Innovative Container Services Private Limited. The Parties agree to execute a definitive Share Purchase Agreement (SPA) within 70 days from the date of this MOU subject to approval of Shareholders and the SPA.

Swiggy has signed a Memorandum of Understanding (MoU) with the National Stock Exchange of India Limited (NSE) to roll out a comprehensive financial literacy program for delivery partners, with special focus on female delivery partners. Additionally, Swiggy also announced that it intends to have 1 lakh women delivery partners by 2030.

The Supreme Court (SC) of India under Special Leave Petition has asked the company (BPL) to remit a sum of Rs. 72 crore directly to the respondent- Morgan Securities and Credits Private Limited on or before December 25 for the admission of SLP filed by the company before SC. Accordingly, the Company has made necessary compliance to the said order. The sudden outflow of funds has a bearing on the cashflows of the company and future expansion projects. However, the management is making al efforts that itwill not affect the present operations of the Company.

Gateway Distriparks has received Rectification Order on December 24, 2024, issued by Income Tax Department for the financial years 2021-22 and 2022-23 of the erstwhile Gateway Distriparks Limited where the Company’s contention was found to be correct and subsequently the demand has been rectified from an initial sum of Rs 25,69,17,096 being revised to INR Nil.

Snowman Logistics has informed the exchanges that the Company has received Rectification Order issued by Income Tax Department for the assessment year 2017-18, 2018-19, 2019-20, 2020-21 where the Company’s contention was found to be correct and subsequently the demand has been rectified from the initial sum of INR 19,94,60,575/being revised to zero.

Gland Pharma said that Agence nationale de sécurité du médicament et des produits de santé (ANSM), France, conducted a Good Manufacturing Practices (GMP) inspection of Cenexi’s Fontenay Manufacturing Facility (material subsidiary) between December 9 and 19. The inspection was concluded, and the Facility received an official notification on Decembe 24, 2024, citing 10 observations. Cenexi is committed to working closely with the ANSM to address the Observations.

Comrade Appliances has received Air Cooler order from Reliance Retail Limited for a value of more than Rs 14.885 crore . These orders are expected to positively impact the company’s revenue in the upcoming quarters