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Ramco Systems Wins Contract from Powerhouse Engines for Aviation MRO Software Transformation
Ramco Systems' US subsidiary has secured a contract with Powerhouse Engines, a South Florida-based aviation services firm specializing in CFM56 jet engines. The deal involves implementing Ramco's next-gen Aviation Software to manage the full lifecycle of engine MRO, Engineering, and Finance operations. This partnership aims to reduce turnaround times and transition Powerhouse to paperless operations using mobile apps and real-time dashboards. With over 90 aviation clients globally, this win strengthens Ramco's footprint in the specialized engine MRO software market.
Key Highlights
Implementation of full-lifecycle Aviation Software for Powerhouse Engines' CFM56 engine MRO operations.
Ramco Aviation Software currently serves 24,000+ users and manages 4,000+ aircraft globally.
The suite includes modules for Engineering & CAMO, MRO Contracting, Finance, and Quality management.
Strategic shift to paperless operations using Ramco's 'Anywhere' mobile apps and BInGO dashboards.
💼 Action for Investors
This contract win demonstrates continued momentum in Ramco's specialized Aviation vertical, which is a key growth driver. Investors should monitor the company's ability to convert these international wins into improved bottom-line performance.
Lupin Signs Exclusive Licensing Deal for Plasil® in Philippines and Brazil
Lupin Limited has entered into an exclusive licensing agreement with Italy-based Neopharmed Gentili S.p.A for the gastroenterology brand Plasil® (metoclopramide). The agreement covers marketing and promotional rights in the Philippines and Brazil through Lupin's subsidiaries, Multicare Pharmaceuticals and MedQuimica. A key strategic component includes shifting the production for the Brazilian market to Lupin's own Medquimica manufacturing facility. This move is designed to strengthen Lupin's gastrointestinal portfolio and presence in high-growth emerging markets.
Key Highlights
Exclusive licensing for the gastroenterology brand Plasil® in the Philippines and Brazil.
Partnership with Neopharmed Gentili S.p.A to leverage local commercial capabilities.
Localization of manufacturing for the Brazilian market at Lupin's Medquimica facility.
Strategic expansion into the anti-emetic and motility disorder treatment segment in emerging markets.
💼 Action for Investors
Investors should monitor the revenue contribution from these new territories as Lupin leverages its existing distribution network. The shift to in-house manufacturing in Brazil could potentially lead to better margins for this product line over time.
Raj TV Executes Agreement to Sell Hyderabad Property for Rs 22 Crore
Raj Television Network has signed an agreement to sell its non-core property in Jubilee Hills, Hyderabad, for a total consideration of Rs 22 crore. The company has already received an initial payment of Rs 3 crore and expects the transaction to be completed by June 30, 2026. Since the property contributed zero revenue in the last financial year, this sale represents a strategic monetization of idle assets. The resulting cash inflow is expected to significantly improve the company's liquidity position.
Key Highlights
Total sale consideration for the Hyderabad property is fixed at Rs 22,00,00,000
Initial payment of Rs 3 crore received upon execution, with Rs 1 crore due via cheque in January 2026
Balance consideration of Rs 18 crore to be received by the completion date of June 30, 2026
The property had zero contribution to the company's turnover or income in the previous financial year
💼 Action for Investors
This is a positive liquidity event as it monetizes a non-performing asset. Investors should monitor the final execution of the sale deed and how the management intends to utilize the Rs 22 crore proceeds.
Maha Rashtra Apex Board Approves ₹15 Crore Rights Issue at ₹10 Per Share
Maha Rashtra Apex Corporation Limited has approved a fundraise of up to ₹15 crore through the issuance of equity shares on a rights basis. The board has fixed the issue price at ₹10 per share, which is the face value of the stock. The rights entitlement ratio is set at 15,000,000 equity shares for every 14,090,896 shares held by eligible shareholders. A Rights Issue Committee has been constituted to finalize the record date and other specific terms of the issue.
Key Highlights
Fundraise of up to ₹15 crore through equity shares on a rights basis
Issue price fixed at ₹10 per share, matching the face value
Rights ratio of 15,000,000 shares for every 14,090,896 shares held
Constitution of a Rights Issue Committee to manage the process and finalize the record date
Board meeting concluded on December 18, 2025, with immediate approval
💼 Action for Investors
Investors should monitor for the announcement of the record date to determine eligibility for the rights. Compare the ₹10 issue price with the current market price to evaluate the potential for arbitrage or dilution impact.
Sanofi India Shareholders Approve Appointment of Deepak Arora as Managing Director
Sanofi India Limited has announced the successful passage of two ordinary resolutions via postal ballot regarding the appointment of Mr. Deepak Arora. The resolution to appoint him as a Director was passed with an overwhelming 99.84% majority. His appointment as Managing Director also received approval with 94.70% of votes in favor, despite some resistance from public institutions where 17.53% voted against. This leadership transition is now formalized following the conclusion of the remote e-voting process on December 17, 2025.
Key Highlights
Mr. Deepak Arora's appointment as Director approved with 99.84% votes in favor (19,946,099 votes).
Appointment as Managing Director passed with 94.70% majority (18,918,505 votes).
Public Institutions showed 17.53% dissent (against votes) specifically for the Managing Director resolution.
Total votes polled were 19,977,363, representing 86.74% of the total outstanding shares.
The voting results were finalized and reported by the Scrutinizer on December 18, 2025.
💼 Action for Investors
Investors should view this as a completion of a key leadership transition, ensuring management continuity for the pharmaceutical major. While the resolutions passed comfortably, the institutional dissent regarding the MD appointment suggests investors should keep an eye on future governance and strategic execution under the new leadership.
Maithan Alloys Incorporates NBFC Subsidiary 'Maithan Capital' with ₹11 Crore Investment
Maithan Alloys Limited has incorporated a wholly-owned subsidiary named Maithan Capital Limited on December 18, 2025. The new subsidiary is established to carry out Non-Banking Financial activities, marking a diversification for the company. Maithan Alloys has invested ₹11 Crore to acquire 100% shareholding, consisting of 1.10 crore equity shares at ₹10 each. The subsidiary is currently in the pre-operational stage and will require necessary RBI permissions to commence business.
Key Highlights
Incorporated wholly-owned subsidiary Maithan Capital Limited on December 18, 2025
Total cash consideration of ₹11 Crore for 100% stake (1,10,00,000 equity shares)
The new entity will focus on Non-Banking Financial activities subject to RBI approval
Subsidiary has an initial paid-up capital of ₹11 Crore and is yet to commence operations
💼 Action for Investors
Investors should monitor the company's strategic rationale for entering the financial services sector and the progress of obtaining RBI licenses. Watch for future capital allocation plans toward this non-core business segment.
Maha Rashtra Apex Corp to Raise Rs 15 Crore via Rights Issue at Rs 10 Per Share
Maha Rashtra Apex Corporation Limited has approved a rights issue to raise up to Rs 15 crore through the issuance of new equity shares. The Board has set the issue price at Rs 10 per share, which matches the face value. The entitlement ratio is approximately 1.06 shares for every 1 share held (15,000,000:14,091,896). A dedicated Rights Issue Committee has been formed to finalize the record date and other specific terms of the offering.
Key Highlights
Total fundraise amount capped at Rs 15,00,00,000 (Rs 15 Crore).
Issue price fixed at Rs 10 per equity share.
Entitlement ratio set at 15,000,000 equity shares for every 14,091,896 shares held.
Board has authorized the constitution of a Rights Issue Committee to manage the process.
Record date and further terms to be notified subsequently by the committee.
💼 Action for Investors
Investors should monitor the current market price relative to the Rs 10 issue price to assess the discount and decide on participation. Existing shareholders should watch for the record date announcement to ensure eligibility for the rights entitlement.
Zee Learn Subsidiary DVPL to Exit Insolvency as CoC Approves Section 12A Withdrawal
Zee Learn Limited has announced that the Committee of Creditors (CoC) of its wholly-owned subsidiary, Digital Venture Private Limited (DVPL), has approved the withdrawal of the insolvency petition against it. The decision was reached during the first CoC meeting held on December 16, 2025, through a proposal under Section 12A of the Insolvency and Bankruptcy Code. This move effectively halts the Corporate Insolvency Resolution Process (CIRP) that was initiated under Section 7. The withdrawal of the petition is a significant positive development, as it allows Zee Learn to retain full control over its subsidiary without the threat of liquidation.
Key Highlights
CoC approved the withdrawal of the Section 7 insolvency petition against Digital Venture Private Limited (DVPL).
The withdrawal was processed under Section 12A of the Insolvency and Bankruptcy Code, 2016.
DVPL is a 100% wholly-owned subsidiary of Zee Learn Limited.
The first CoC meeting was held on December 16, 2025, with results communicated on December 18, 2025.
💼 Action for Investors
Investors should view this as a major relief for Zee Learn as it removes a significant legal overhang regarding its subsidiary. Monitor for the final NCLT order formally closing the insolvency proceedings.
Dilip Buildcon Seeks Shareholder Approval for ₹1,625 Cr Related Party Transaction
Dilip Buildcon Limited (DBL) has issued a postal ballot notice to seek shareholder approval for material related party transactions with its subsidiary, DBL ERCP Bandh Baretha Private Limited. The proposed transactions have an aggregate value limit of ₹1,625 Crores, which exceeds the standard materiality thresholds under SEBI regulations. The company maintains that these transactions will be conducted on an arm's length basis and within the ordinary course of business. Shareholders can participate in the remote e-voting process from December 19, 2025, to January 17, 2026.
Key Highlights
Proposed material related party transaction with subsidiary DBL ERCP Bandh Baretha Private Limited.
Aggregate transaction value capped at a maximum of ₹1,625 Crores.
Approval sought via Ordinary Resolution through a postal ballot and remote e-voting process.
E-voting period runs from December 19, 2025, to January 17, 2026, with a cut-off date of December 12, 2025.
Transactions are intended for project completion and requirements set by lenders.
💼 Action for Investors
Investors should review the explanatory statement to ensure the ₹1,625 Cr transaction aligns with the company's project execution timelines and cash flow management. While common in infra SPVs, the scale of this related party transaction warrants monitoring for corporate governance standards.
TCS Expands Aviva UK Partnership to Manage 6.5 Million Policies
TCS has announced a significant expansion of its partnership with Aviva, the UK's leading insurance provider. Under the new agreement, TCS's subsidiary Diligenta will manage an additional 1.1 million policies, bringing the total portfolio to over 6.5 million policies. The transition will utilize the TCS BaNCS platform to enhance customer experience and digitize policy administration. This move solidifies TCS's leadership in the UK Life and Pensions market, where Diligenta already administers over 20 million policies in total.
Key Highlights
TCS subsidiary Diligenta to manage an additional 1.1 million Aviva policies in the UK.
Total Aviva policies under TCS management increased to over 6.5 million.
The expansion leverages the proprietary TCS BaNCS platform for end-to-end digital transformation.
Diligenta currently administers a total of over 20 million policies for the UK Life and Pensions industry.
TCS maintains a strong UK presence with over 200 clients and a commitment to create 5,000 new jobs.
💼 Action for Investors
This expansion demonstrates TCS's strong client retention and ability to upsell within its existing base, providing long-term revenue visibility. Investors should remain positive as this reinforces TCS's dominant competitive position in the high-margin BFSI segment in the UK.
Sammaan Capital Clarifies on FIR Against Ex-Promoter Sameer Gehlaut
Sammaan Capital (formerly Indiabulls Housing Finance) clarified that a fresh FIR (No. 175/25) filed by the Delhi Police EOW targets erstwhile promoter Sameer Gehlaut and five other corporate groups, not the company itself. The investigation stems from a Supreme Court case involving allegations of quid pro quo transactions. The company emphasized that Mr. Gehlaut exited the board in March 2022 and has had no shareholding since September 2023. While the company distances itself, the historical nature of the allegations linked to its former leadership remains a point of scrutiny for the market.
Key Highlights
Delhi Police EOW registered FIR No. 175/25 on December 15, 2025, regarding alleged fraud and criminal conspiracy.
Investigations focus on ex-promoter Sameer Gehlaut and groups including Reliance ADAG, DLF, and Vatika.
CBI, ED, SFIO, and SEBI held a joint meeting to discuss the necessity of a Special Investigation Team (SIT).
Sameer Gehlaut ceased to be a promoter in Feb 2023 and exited all shareholding by Sept 2023.
The stock reportedly fell up to 7% following the news before the company issued this clarification.
💼 Action for Investors
Investors should monitor the progress of the Supreme Court case and the EOW investigation for any potential liabilities that might trace back to the company's past operations. While the current management is separate, legal overhangs from the 'Indiabulls' era may continue to cause price volatility.
Globus Spirits EGM: Approval for Rs 500 Cr Fundraise and Doubling FPI Limit to 20%
Globus Spirits Limited conducted its Extraordinary General Meeting on December 18, 2025, to approve significant capital and regulatory changes. The primary agenda included a proposal to raise up to Rs 500 crores through Qualified Institutions Placement (QIP) or private offerings. Furthermore, the company sought to double the investment limit for Foreign Portfolio Investors (FPIs) from 10% to 20%. These measures are aimed at strengthening the balance sheet for future growth and increasing institutional participation.
Key Highlights
Shareholders voted on a special resolution to raise up to Rs 500 crores via QIP or private offerings.
Proposed increase in Foreign Portfolio Investors (FPI) investment limit from 10% to 20%.
The fundraise is intended to be executed in one or more tranches as per regulatory norms.
The meeting was chaired by Mr. Sunil Chadha and conducted via Video Conferencing.
💼 Action for Investors
Watch for the official voting results and details on the utilization of the Rs 500 crore capital. The increased FPI limit is a positive signal for potential long-term institutional interest in the stock.
SEBI Clears Mawana Sugars Officials of Insider Trading Allegations; No Penalty Imposed
SEBI has disposed of show cause notices against Mawana Sugars' current Company Secretary and two former CFOs. The adjudication order, dated December 17, 2025, concludes that alleged violations of Insider Trading regulations and the SEBI Act were not established. No monetary penalties were imposed on any of the individuals involved. This resolution effectively removes a regulatory overhang regarding management integrity that had persisted since September 2023.
Key Highlights
SEBI Adjudication Officer disposed of notices against Ex-CFOs Anil Arora and Bharat Bhushan Mehta.
Current Company Secretary Ashok Kumar Shukla cleared of alleged Code of Fair Disclosure violations.
Order dated December 17, 2025, confirms that alleged violations were not established.
Zero monetary penalties imposed on the noticees involved in the case.
The case related to alleged violations of SEBI PIT Regulations and Section 12A(e) of the SEBI Act.
💼 Action for Investors
The clearance of senior management from regulatory allegations is a positive for corporate governance perception. Investors should now shift focus back to the company's operational performance and sugar industry cycles.
Kajaria Ceramics Appoints Hitesh Jain and Pradeep Udhas as Independent Directors for 5 Years
Kajaria Ceramics has approved the appointment of two highly experienced professionals, Mr. Hitesh Sohanlal Jain and Mr. Pradeep Udhas, as Additional Non-executive Independent Directors. Mr. Jain brings over 30 years of legal and regulatory expertise, having served on the 23rd Law Commission of India. Mr. Udhas, a co-founder of KPMG India, offers extensive experience in global business strategy and management consulting. Both appointments are for a five-year term effective December 19, 2025, pending shareholder approval.
Key Highlights
Appointment of Mr. Hitesh Sohanlal Jain and Mr. Pradeep Udhas for a 5-year term starting Dec 19, 2025
Mr. Jain is a senior legal professional and former member of the 23rd Law Commission of India
Mr. Udhas is a co-founder of KPMG India with over 30 years of experience in consulting and private equity
Both directors are appointed as Non-executive Independent Directors and are not related to any existing board members
💼 Action for Investors
Investors should view these appointments as a positive move to strengthen corporate governance and strategic oversight. No immediate action is required as these are high-quality additions to the board.
Spandana Sphoorty Seeks Approval for New MD & CEO with ₹2.8 Cr Fixed Pay and ₹3 Cr Joining Bonus
Spandana Sphoorty Financial Limited has initiated a postal ballot to seek shareholder approval for the appointment of Mr. Venkatesh Krishnan as Managing Director and CEO for a three-year term. The proposed compensation package includes a fixed annual salary of ₹2.8 crore, a one-time joining bonus of ₹3 crore, and 8.85 lakh stock options. Additionally, the company is seeking to revise the annual remuneration for Chairperson Ms. Abanti Mitra to ₹50 lakh. The e-voting process for these resolutions will conclude on January 17, 2026.
Key Highlights
Appointment of Venkatesh Krishnan as MD & CEO for a 3-year term effective November 27, 2025.
Proposed annual fixed remuneration of ₹2.8 crore and a performance-linked bonus of ₹95 lakh.
One-time joining bonus of ₹3 crore and grant of 8,85,000 ESOPs vesting over four years.
Revision of Chairperson Abanti Mitra's annual remuneration to ₹50 lakh effective October 1, 2025.
E-voting period for shareholders is scheduled from December 19, 2025, to January 17, 2026.
💼 Action for Investors
Investors should view this as a formalization of leadership transition and monitor if the new CEO's performance-linked incentives align with long-term value creation. The substantial joining bonus indicates a high-stakes hire aimed at stabilizing or growing the microfinance business.
Promoter Group Harsha Farms Acquires 20,710 Shares of Royal Orchid Hotels for Rs 79.98 Lakhs
Harsha Farms Private Limited, a member of the promoter group for Royal Orchid Hotels Limited (ROHLTD), has increased its stake through an open market purchase. On December 17, 2025, the entity acquired 20,710 equity shares, representing approximately 0.08% of the company's total share capital. This transaction, valued at nearly Rs 80 lakhs, raises Harsha Farms' individual holding from 1.69% to 1.77%. Such insider buying is typically viewed as a positive signal of promoter confidence in the company's long-term value.
Key Highlights
Acquisition of 20,710 equity shares via open market on December 17, 2025
Total transaction value amounted to Rs 79,98,046.30
Harsha Farms' stake increased from 4,64,030 shares (1.69%) to 4,84,740 shares (1.77%)
The purchase was executed on the National Stock Exchange (NSE)
Total equity share capital of the company remains at 2,74,25,215 shares
💼 Action for Investors
Investors should take note of this promoter-level buying as a sign of internal confidence; however, given the relatively small size of the acquisition (0.08%), it should be considered alongside broader fundamental performance.
Orchasp Allots 2.68 Crore Equity Shares at Rs 3.20 to Settle Debt
Orchasp Limited has approved the allotment of 2,68,75,000 equity shares on a preferential basis at an issue price of Rs 3.20 per share. These shares are being issued to Mrs. P. Rajeswari, the legal heir of the company's former Chairman & CEO, Mr. P.C. Pantulu. The allotment serves to convert outstanding loan amounts into equity, effectively reducing the company's debt liabilities. While this move results in equity dilution, it improves the company's balance sheet by settling debt without cash outflow.
Key Highlights
Allotment of 2,68,75,000 equity shares with a face value of Rs 2 each.
Preferential allotment price set at Rs 3.20 per share.
Shares issued to settle outstanding loan amounts of the late ex-Chairman & CEO.
Total transaction value for debt-to-equity conversion is approximately Rs 8.6 crore.
Board has authorized the Managing Director to proceed with listing and trading permissions.
💼 Action for Investors
Investors should view the debt reduction as a positive for the company's financial health, though they should be mindful of the resulting equity dilution. Monitor the company's upcoming quarterly results to see the impact of reduced interest burdens.
Solar Industries Appoints Two Independent Directors via SEBI Deemed Approval Rule
Solar Industries India Limited has confirmed the appointment of Smt. Girija Balakrishnan and Shri Viswanathan Lakshmanan as Independent Directors through a postal ballot. Although the special resolutions failed to reach the 75% majority threshold, receiving only 64.67% and 67.21% total votes in favour respectively, the appointments were 'deemed' successful under SEBI Regulation 25(2A). This regulation allows appointment if votes in favour exceed votes against, provided public shareholder support is also positive. Notably, there was significant dissent within the promoter group, with 42.06% of their votes cast against both candidates.
Key Highlights
Resolution for Smt. Girija Balakrishnan received 64.67% votes in favour and 35.33% against.
Resolution for Shri Viswanathan Lakshmanan received 67.21% votes in favour and 32.79% against.
Promoter group exhibited internal friction, casting 26,476,508 votes (42.06%) against both appointments.
Public institutional support was strong, with 87.90% and 99.99% in favour for the two candidates respectively.
Appointments are valid under SEBI Regulation 25(2A) as favour votes exceeded against votes in both total and public categories.
💼 Action for Investors
Investors should monitor board dynamics closely as the high level of promoter dissent (42%) against board-proposed independent directors is unusual and may indicate internal governance friction. While the appointments are legally valid, the lack of promoter consensus is a point of caution.
Dalmia Bharat Sugar Sets 94.55:5.45 Cost Apportionment Ratio for DBRL Demerger
Dalmia Bharat Sugar and Industries Limited has announced the cost of acquisition apportionment following the demerger of its Dalmia Magnesite and Govan Travels units into Dalmia Bharat Refractories Limited (DBRL). Shareholders as of the October 31, 2025 record date are entitled to 1 share of DBRL for every 48.18 shares held in DALMIASUG. For tax purposes, the original cost of acquisition must be split, with 94.55% allocated to DALMIASUG and 5.45% to DBRL. This procedural update is essential for shareholders to accurately calculate future capital gains tax liabilities.
Key Highlights
Share exchange ratio fixed at 1 equity share of DBRL (FV Rs 10) for every 48.18 shares of DALMIASUG (FV Rs 2)
Cost of acquisition split determined as 94.55% for DALMIASUG and 5.45% for DBRL
Demerger involves the transfer of Dalmia Magnesite Corporation and Govan Travels to DBRL
Appointed date for the scheme was July 01, 2023, with the record date set as October 31, 2025
The apportionment is based on the net book value of assets transferred relative to the net worth of the demerged company
💼 Action for Investors
Investors should update their records to reflect the 94.55% and 5.45% cost split for their holdings to ensure correct capital gains calculations during future share sales. No immediate buy or sell action is required as this is a tax-related regulatory filing.
Concord Biotech Appoints Raviraj Karia as CFO; Brings 23+ Years of Pharma Experience
Concord Biotech has appointed Mr. Raviraj Karia as its new Chief Financial Officer, effective December 18, 2025. Mr. Karia is a Chartered Accountant with over 23 years of experience in the pharmaceutical and healthcare sectors, having held leadership roles at Intas Pharmaceuticals and Claris Lifesciences. His expertise spans multi-billion dollar financing, large-scale M&A, and cost-efficiency programs. This strategic appointment is aimed at strengthening the company's financial discipline and governance as it scales.
Key Highlights
Appointment of Mr. Raviraj Karia as CFO and Key Managerial Personnel effective December 18, 2025
Brings over 23 years of experience in pharmaceuticals, healthcare, and private equity sectors
Previously managed multi-billion dollar financing programs and led major outbound pharma acquisitions
Proven track record of reducing borrowing costs by 2-3% annually through financial optimization
Expertise in implementing digital tools like SAP-based MIS and Power BI for financial governance
💼 Action for Investors
Investors should view this as a positive move for corporate governance and financial strategy. Monitor the company's future capital allocation and cost-efficiency metrics under the new leadership.