Business

Six Indian companies—SAEL Industries, Vishvaraj Environment, Symbiotec Pharmalab, Prasol Chemicals, NoPaperForms Solutions, and Shah Investor's Home—have received regulatory approval from the Securities and Exchange Board of India (Sebi) to proceed with their initial public offerings (IPOs). Collectively, these firms aim to raise approximately Rs 10,000 crore to fund expansion, operational growth, and debt repayment. 

India’s luxury hospitality sector is confronting short-term disruptions triggered by geopolitical tensions in West Asia, yet industry leaders remain optimistic about a swift recovery. While premium hotel chains have reported cancellations and deferred bookings, executives argue that the high-end travel segment has historically demonstrated resilience during global crises. Structural demand drivers—including affluent domestic travelers and experiential tourism—continue to underpin long-term growth. 

Thermax has secured a significant order worth approximately Rs. 1,600 crore through its subsidiary Thermax Babcock & Wilcox Energy Solutions for an ultra-supercritical thermal power project in central India. The contract covers the complete boiler package, including manufacturing, supply, commissioning, and performance testing for a 1x800 MW plant. The deal underscores Thermax’s growing footprint in advanced thermal technologies and highlights continued investment in high-efficiency power infrastructure.

India’s aviation sector is entering the summer season with a measured reduction in capacity, as airlines plan to operate just over 23,000 weekly domestic flights—approximately 10 percent fewer than the previous year. The revised schedule, released by the Directorate General of Civil Aviation, reflects a strategic recalibration by carriers navigating operational constraints, fleet limitations, and evolving demand patterns. While passenger traffic remains resilient, airlines appear focused on optimizing profitability and efficiency rather than aggressive expansion.

Ceigall India has inked power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to develop two solar photovoltaic projects totaling 337 MW, under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0). The projects, representing a combined investment of Rs. 1,369 crore, will span six districts in Maharashtra, with capacities of 190 MW and 147 MW respectively. Scheduled for completion within 18 months, these initiatives reinforce the company’s commitment to renewable energy and support India’s clean energy transition.

Laxyo Ltd has filed draft papers with Securities and Exchange Board of India to raise Rs. 150 crore through an Initial Public Offering (IPO). The issue, comprising entirely fresh equity shares, signals the company’s intent to deleverage its balance sheet and fund operational expansion. Proceeds will be allocated toward debt reduction, equipment acquisition, and working capital needs, with a portion reserved for general corporate purposes. The Indore-based firm may also pursue a pre-IPO placement of up to Rs.

Avantel Limited has secured a significant contract valued at Rs. 459.9 crore to supply and maintain Real-Time Train Information System (RTIS) devices for Indian Railways’ digital infrastructure. The deal, awarded through Zetwerk, will support the Centre for Railway Information Systems in enhancing operational visibility and efficiency. The project includes both device deployment and long-term maintenance services.

Asgard Alcobev Ltd has appointed Ronak Jain as its Managing Director, marking a pivotal leadership transition aimed at accelerating long-term growth and strategic realignment. With over 15 years of experience in the alcoholic beverages industry and diversified exposure across manufacturing sectors, Jain is expected to strengthen operational efficiency and expand market presence. 

Tata Motors Passenger Vehicles Ltd has announced a price increase of 0.5 percent across its internal combustion engine (ICE) vehicle portfolio, effective April 1, 2026. The decision comes in response to mounting input cost pressures, including raw materials and operational expenses. 

E-commerce giant Flipkart has unveiled a 105 percent bonus payout for eligible employees for 2025, reflecting robust business performance and sustained growth momentum. The payout, targeting employees up to the Senior Director level, will be disbursed in March, while senior leadership will receive bonuses following the completion of performance evaluations.