TVS Motor to spin off finance arm, Bajaj Electricals changes its leadership
A roundup of Indian corporate news: TVS Motor's demerger, Fortis hospital deal, a USFDA classification for Dr Reddy's and a chairman change at Bajaj Electricals.
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what happened
According to Moody's, the board of TVS Motor approved a demerger of its consumer finance businesses into a separate company, with TVS Motor shareholders receiving one share of the new entity for each share held. To carry this out, TVS Motor will buy Harita ARC from TVS Credit Services for Rs 25,000 in cash and the entire stake in STPL Trading and Services for Rs 530.08 crore. Completion is expected on or before December 31, 2026.
Fortis Healthcare, through its subsidiary International Hospital, acquired Suguna Hospital in Bengaluru for about Rs 277 crore in an all-cash slump sale. The USFDA classified Dr Reddy's Srikakulam plant as Voluntary Action Indicated and closed the inspection. At Bajaj Electricals, Shekhar Bajaj steps down as Executive Chairman on December 31, 2026, and Sudarshan Sampathkumar becomes Non-Executive Chairman from January 1, 2027, subject to shareholder approval.
Titagarh Rail Systems received an additional order worth Rs 1,716.90 crore plus GST for 4,955 BOXNHL wagons, lifting the contract total to 9,994. KIMS said the Supreme Court dismissed a Special Leave Petition over its Chennai hospital project, and Shalby said its Jabalpur hospital has resumed full operations. Separately, the Maharashtra Pollution Control Board refused HD Fire Protect's consent to operate for its Jalgaon expansion.
why it matters
Most of these items concern individual companies and are routine, so the impact on the broader market is limited. For TVS Motor investors, the restructuring is the key development, while Titagarh's large order adds to its order book.
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sources
- Buzzing stocks: TVS Motor, Fortis Healthcare, Dr Reddy’s, Bajaj Electricals, Titagarh, Zaggle, Awfis, HD Fire, KIMS, Shalby — Moody's, 29 October 2026 at 04:51 UTC
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