Overview

• Indian Railway Finance Corporation announced two loan agreements totaling Rs 16,489 crore to fund supercritical thermal projects in Haryana and Maharashtra, including up to Rs 5,929 crore for HPGCL’s 800 MW DCRTPP unit and up to Rs 10,560 crore for MAHAGENCO.
• SEBI issued a two-year market access ban on Man Industries and three senior executives, including the chairman, citing alleged fund diversion and misrepresentation following a regulator order released on Monday.
• JSW Infrastructure said its Ennore Coal Terminal unit received a GST show-cause notice alleging Rs 96.58 crore in tax contraventions for FY2019–FY2024, issued on September 26 under Section 74(1) by the Chennai Audit-II Commissionerate.
• Reliance Power signed a share purchase agreement to sell its entire stakes in five Indonesian coal subsidiaries to Biotruster (Singapore) Pte. Ltd. for $12 million, subject to conditions precedent and customary terms.
• Moody’s revised the outlook on Jaguar Land Rover, Tata Motors’ UK unit, to negative after a recent cyberattack, while affirming the automaker’s Ba1 rating.