Larsen & Toubro (L&T) on Wednesday said it has signed an agreement to divest its entire stake in L&T Metro Rail (Hyderabad) to Hyderabad Metro Rail for ₹1,461.47 crore, marking its exit from the urban metro rail project. The company informed stock exchanges that it executed a share purchase agreement on April 29, 2026, for the sale of its full shareholding in the subsidiary. Upon completion of the transaction, expected by June 30, 2026, L&T Metro Rail will cease to be a subsidiary of L&T.

Starworth Infrastructure & Construction Ltd, a wholly owned subsidiary of Puravankara Ltd, has received a Letter of Intent from NPS Developers for an approximate contract value of ₹144.45 crore excluding GST and Labour Cess. The order is to execute civil, structural, waterproofing, finishes and allied works for the Nature’s Nest residential project in Bangalore in 28 months.

Brigade Enterprises has tied up with Bain Capital to jointly develop a mixed-use project in Bengaluru at a cost of ₹2,200 crore. In a regulatory filing on Wednesday, the company said that it has inked a strategic partnership with Bain Capital to develop a premium mixed-use project in Whitefield, Bengaluru. “The project will be developed through a 50:50 joint venture between the two partners with a total project investment of approximately ₹2,200 crore,” the filing said.

Indian Hume Pipe Company has secured a ₹458.69 crore contract for a water supply project in Telangana, adding to its steady pipeline of public sector infrastructure work. The project has been awarded by the Public Health and Municipal Engineering Department under the Government of Telangana for the Water Supply Improvement Scheme in Greater Warangal Municipal Corporation. The contract, which excludes GST, will be executed over a period of 24 months and is structured as a percentage-based agreement.

PennWhite India (PWI), a step-down subsidiary of Manali Petrochemicals, has inaugurated its manufacturing facility at Oragadam, Chennai, Tamil Nadu. The facility is set up for the manufacture of foam control chemistry to serve customer requirements in India and the wider Asian markets. PennWhite India is a wholly owned subsidiary of PennWhite, which in turn is a subsidiary of MPL.

Gufic Biosciences has made a further investment of $50,000 in Selvax by subscribing 3,78,350 ordinary shares at AUD 20 cents per share. The acquisition of equity shares in Selvax is a strategic arrangement for the development of immunotherapy solutions in oncology and is intended to enable the company to diversify into the healthcare and biotechnology sector and participate in the development of immunology-based treatments for large solid tumours.

Ion Exchange (India) Ltd has executed a Technology Transfer Agreement with MANN + HUMMEL for the manufacture of PVDF Ultrafiltration (UF) membranes and Integrated Membrane Bioreactor (MBR) systems. The collaboration encompasses both domestic and international operations.

Published on April 30, 2026