Several companies announced major business developments on November 3. Garden Reach Shipbuilders & Engineers Ltd. signed a Rs 32,000 crore contract with the Indian Navy. Meanwhile, Dr Reddy's and Lupin got USFDA approvals for new drugs. NBCC secured work orders worth Rs 70.50 crore, while HPCL controlled a refinery fire.
From GRSE's ₹32,000-crore Indian Navy contract and USFDA approvals for pharma companies to fresh infrastructure, AI automation and laptop supply orders, several companies announced significant business developments
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has signed a contract worth about Rs 32,000 crore with the Indian Navy to build five Next Generation Corvettes (NGCs), marking a major milestone in India's indigenous warship-building programme. GRSE had emerged as the lowest bidder (L1) for the prestigious project. The company is currently building nine warships, including an advanced guided-missile frigate under Project 17A, four Anti-Submarine Warfare Shallow Water Craft (ASW-SWCs) and four Next Generation Offshore Patrol Vessels.
Dr Reddy's gets USFDA nod for HIV prevention drug; Lupin wins approval
Drug major Dr Reddy's Laboratories Ltd has informed the exchanges that the US Food and Drug Administration (USFDA) has granted tentative approval to its twice-yearly injectable lenacapavir for HIV prevention, paving the way for access across 120 countries outside the US under an existing voluntary licensing agreement. Similarly, Lupin Limited has also received approval from the USFDA for its Abbreviated New Drug Applications for Amifampridine Tablets, 10 mg.
NBCC secures new work orders worth ₹70.50 crore
NBCC (India) Limited has received new work orders worth approximately Rs. 70.50 crore, excluding GST, from Oil India Ltd and Hindustan Aeronautics Ltd (HAL), strengthening the company's project pipeline in housing and defence-linked infrastructure.
HPCL controls fire at Visakhapatnam refinery; no unit damage reported
State-run Hindustan Petroleum Corporation (HPCL) said that the Monday fire at its Visakhapatnam refinery has been controlled with no damage to any units. "A fire incident was reported at the pitch intermediate storage tank at Visakh Refinery of HPCL, at around 10 pm on November 2, 2026. Fire & Safety Team of Visakh Refinery promptly activated the firefighting and emergency response measures," HPCL said in a statement.
Belrise Industries ties up with Japan's Yamato for filtration products
Belrise Industries Ltd (BIL), one of India's leading integrated automotive component manufacturers with a diverse portfolio of safety-critical systems and engineering solutions, today announced that it has entered into a License and Technical Assistance Agreement with Japan-based Yamato Co Ltd. The agreement will enable Belrise to manufacture and sell a range of filtration and air intake products in India, leveraging YAMATO's technology and technical know-how. Under the agreement, Yamato will provide Belrise with a license and technical assistance for the design, development, testing, and manufacturing of products, including air filters, oil filters, and resin air intake manifold products for Indian automotive and industrial Original Equipment Manufacturers (OEMs).
Datakosa bags $2.46-million AI automation order from US firm
Datakosa Ltd, formerly Bodhtree Consulting Ltd, has received a work order from Hermes Networks Inc., USA, for AI-led automation, integration and implementation services. The order is valued at $24,65,280, excluding applicable taxes, or approximately Rs. 23.38 crore at the RBI reference rate of Rs. 94.8755 per US dollar as on November 2. The order is to be executed over 12 months, from November 1, 2026 to October 31, 2027.
Panache DigiLife wins ₹51.43-crore laptop supply order
Panache DigiLife has received a work order worth Rs. 51.43 crore, excluding GST, to supply laptops with accessories. A domestic IT customer awarded the order, and Panache DigiLife is to execute it within about 30 days. The contract covers the supply of laptops along with accessories. Panache DigiLife said a domestic entity awarded the order, so it does not fall under related-party transactions.