Corporate Updates
Dredging Corporation of India: PM announced a ₹4,000 crore modernisation plan under major ports — VPA, JNPA, DPA, and SMP. DCI will procure 11 new dredgers, including three TSHDs, with one delivered in October 2025. Focus remains on digital, automated, and green dredging through Indian shipyards.
Allcargo Logistics: The amalgamation of Allcargo Gati and group entities becomes effective November 1, 2025, following NCLT approval. The merger includes Allcargo Supply Chain, Gati Express & Supply Chain, and Allcargo Gati, which will now cease as separate entities.
Artson Ltd: Entered a JV with Malabar Cements for fabrication, mechanical, and maritime infrastructure projects. The JV will use MCL’s 7-acre waterfront facility in Kochi and operate as an unincorporated partnership with a 3:2 supervisory board.
Urban Company: To set up a wholly owned subsidiary in the UAE with an investment of ₹3 crore for general trading and aggregator sales. The firm will also wind up its Saudi arm, Urban Company Arabia, following business consolidation. The unit had FY25 turnover of ₹41.59 cr and a net worth of –₹37.46 cr.
ICICI Bank: Received RBI nod to amend its ADR agreement, allowing ADS holders to vote on deposited securities, subject to regulatory compliance under Section 12B of the Banking Regulation Act.
DCM Ltd: Terminated its joint development agreement with MS GCD Prime for Hisar land project due to prolonged delays. Payments to the developer will be forfeited, and DCM reserves legal rights for damages.
Inflame Appliances: To set up a ₹10 crore automated manufacturing facility at Panchkula, expanding capacity by 15,000 chimney units per month and adding lines for new products like OTGs and hobs.
Zaggle Prepaid Ocean Services: Signed a three-year service agreement with Hitachi Cash Management Services to deploy its Propel platform. The deal is a non-related party transaction executed at arm’s length.
Avro India: Commissioned one of India’s largest washing lines; commercial production begins early November 2025. The facility enhances output and product quality, supporting higher margins.
Coal India: Sanoj Kumar Jha, IAS, takes additional charge as CMD from November 1, succeeding P.M. Prasad.
Urban Company: Reported Q2 adjusted EBITDA loss of ₹35 cr, mainly from ₹44 cr loss in Insta Help vertical. Core India services remained profitable, while UAE and Singapore units achieved breakeven.
Responsive Industries: Reported a minor fire at its Betegaon, Boisar plant on October 31. No injuries or major damage; operations remain unaffected.
Results Highlights
Andhra Petrochemicals: Q2 net profit at ₹2.14 cr vs ₹3.62 cr loss YoY and ₹8.41 cr loss QoQ. Revenue up 61% YoY to ₹168 cr; EBITDA positive at ₹1.02 cr with margins at 0.6%.
Auto Sales Data
Tata Motors: Posted all-time high PV sales at 61,295 units in October 2025, up 27% YoY. SUV sales crossed 47,000 units with 77% share; EV sales up 73% YoY to 9,286 units.
TVS Motor: Reported record monthly sales of 5.43 lakh units (+11% YoY). Two-wheeler sales rose 10% to 5.25 lakh; EV sales up 11% to 32,387 units; exports up 21% to 1.16 lakh units.
Ashok Leyland: October sales up 16% YoY to 17,820 units. Domestic volumes rose 16% to 16,314 units. LCV sales up 19% YoY; M&HCV buses up 33% YoY.
Hyundai Motor India: Sold 69,894 units in October 2025; exports up 11% YoY to 16,102 units. Creta and Venue clocked combined sales of 30,119 units, the second-highest ever.
Maruti Suzuki: Achieved record sales of 2.2 lakh units in October 2025, up 7% YoY. Domestic sales rose 9% to 1.89 lakh; exports fell 6% to 31,304 units.
VST Tillers: Total October sales up 89% YoY to 4,664 units; power tillers surged 129% to 4,077 units, while tractor sales fell 14% to 587 units.
Commodities & Energy
Gas Pricing Update: Domestic natural gas price cut by 6% MoM to $6.55/MMBTU for November 2025. Ceiling price for ONGC and Oil India’s nomination fields also lowered to $6.55/MMBTU.
Macroeconomic Update
GST Collection: October GST revenue stood at ₹1.95 lakh cr, up 4.6% YoY — the first full-month data post GST rate cut.
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