TVS Motor Company approved a demerger of its finance business on Wednesday. Shareholders will get one share in the new entity for every share held. Meanwhile, Fortis Healthcare acquired Suguna Hospital for Rs 277 crore. Also, the USFDA closed its inspection of Dr Reddy’s Srikakulam facility as Voluntary Action Indicated.
TVS Motor moves to unlock finance arm through demerger as Fortis and others push strategic deals; approvals, new leadership shifts, and key regulatory updates shape a busy earnings week.
The board of TVS Motor Company, part of TVS Venu, on Wednesday approved a demerger of its consumer finance and related businesses into a separate company. Shareholders of TVS Motor will receive one share in the new finance entity for every TVS Motor share held. The resulting company will thus have the same ownership structure as TVS Motor. To implement the demerger, TVS Motor Company is acquiring Harita ARC from TVS Credit Services Ltd for Rs. 25,000 in cash. The board has also approved a proposal for the acquisition of entire stake of STPL Trading and Services (STPL) for a sum of Rs 530.08 crore, and execution of a Sale and Purchase Agreement (Agreement) along with other ancillary documents as may be required in connection with the proposed transaction. Upon completion of the aforesaid acquisitions, STPL will become a wholly owned subsidiary of the Company. The acquisition is proposed as part of the company's business consolidation and restructuring initiatives. The acquisition is expected to be completed on or before December 31, 2026.
Fortis Healthcare Ltd has acquired Suguna Hospital in Bengaluru for approximately Rs. 277 crore through an all-cash transaction structured as a slump sale, expanding its presence in the city's north-western corridor. The acquisition was completed on Wednesday through International Hospital Ltd (IHL), a wholly owned subsidiary of Fortis Healthcare.
The US drug regulator USFDA has classified Dr Reddy's Laboratories Ltd's Srikakulam, Andhra Pradesh, manufacturing facility as 'Voluntary Action Indicated' (VAI) and officially closed the inspection. Earlier on July 29, the pharma major had informed the stock exchanges about a pre-approval inspection and good manufacturing practices inspection by the United States Food & Drug Administration (USFDA) at its FTO-SEZ Process Unit-2 in Srikakulam.
The Board of Directors of Bajaj Electricals Limited has approved an evolution in the Company's Board leadership, reflecting its continued transition towards a professionally managed and Board-led governance model. Shekhar Bajaj will transition out of his current role as Executive Chairman, effective December 31, 2026. Effective Jan 1, 2027 (subject to shareholder approval) he will transition to becoming a a Non-Executive Director on the Board. In recognition of his contribution to Bajaj Electricals over more than four decades, he will also carry the honorary title of Chairman Emeritus from Jan 1, 2027. Sudarshan Sampathkumar, currently an Independent Director of the Company, has been appointed Non-Executive Chairman of the Board, effective January 1, 2027, subject to shareholder approval.
Titagarh Rail Systems Ltd has received an additional order worth ₹1,716.90 crore, plus goods and services tax (GST), from the Ministry of Railways for the manufacture and supply of 4,955 BOXNHL wagons. The order was placed under the option clause of the original contract, at the same price, terms and conditions. With the additional quantity, the total number of BOXNHL wagons under the contract has increased to 9,994.
Zaggle Prepaid Ocean Services (Zaggle) has entered into an agreement with AGP City Gas to offer Zaggle Propel platform to AGP City Gas. This agreement shall be valid and in force for a period of 1 year, unless terminated earlier in accordance with the provisions of this Agreement.
Awfis Space Solutions Ltd., India's largest flexible workspace solutions platform, has announced the launch of its new centres in Pune, Bengaluru, and Mumbai. The company has added ~1,45,000 sq. ft. of chargeable area with the latest design versions to cater to modern enterprises, GCCs, and large corporates.
HD Fire Protect Limited has announced that the Maharashtra Pollution Control Board (MPCB) has refused its application for Consent to Operate for the expansion of its existing facility at Jalgaon, Maharashtra. The company has stated that its existing manufacturing operations will continue as usual and that it does not anticipate any material impact on its financial performance or business activities. OptimizeOps. The Maharashtra Pollution Control Board issued a letter dated October 28, 2026, refusing HD Fire Protect's application for Consent to Operate for the expansion of its Jalgaon facility.
Krishna Institute of Medical Sciences Limited (KIMS) has announced that the Supreme Court has dismissed its Special Leave Petition in a matter relating to a Leave and Licence Agreement with Andhra Mahila Sabha Trust for a proposed super-speciality hospital in Chennai. The company has clarified that no injunction or stay restraining it from proceeding with the project has been passed. The update indicates that the Chennai super-speciality hospital project can continue, as there is no restriction imposed by the courts on the company's ability to proceed. The pending legal proceedings relate to the administration of the Trust and do not amount to a final determination against KIMS or the project.
Shalby has announced that Shalby Hospital, Jabalpur, has resumed full operations following permission from the Chief Medical and Health Officer (CMHO), Jabalpur. The hospital can now resume normal healthcare services, including patient admissions on the previously affected floor. The Chief Medical and Health Officer, Jabalpur, issued a letter dated October 28 permitting the hospital to resume normal operations on the previously affected floor. The permission was granted after the completion of necessary renovation work, reassessment by the competent authority and implementation of the required safety measures by the company.
Key results
Asian Paints, Ambuja Cements, Asset Reconstruction Company (India), Blue Star, CARE Ratings, Coal India, Equitas Small Finance Bank, ESAF Small Finance Bank, Firstsource Solutions, Godrej Consumer Products, Horizon Industrial Parks, InterGlobe Aviation, ICRA, Indian Energy Exchange, Kalpataru, Laurus Labs, Milky Mist Dairy Food, Motilal Oswal Financial Services, Pine Labs, Shadowfax Technologies, Suzlon Energy, Symphony, Thyrocare Technologies, Trent, Vedanta Power, V-Guard Industries and Vedanta Oil.