Tata Steel | The company said its Dutch subsidiary, Tata Steel Nederland, has announced a sweeping transformation programme aimed at enhancing its long-term competitiveness and accelerating its green steel transition, with plans to cut approximately 1,600 management and support function jobs. The company has filed a formal Request for Advice with the Netherlands’ Central Works Council to initiate consultations on the proposed changes.

BHEL | State-owned company said it has entered into a strategic Memorandum of Understanding (MoU) with Italy-based Nuovo Pignone International s.r.l. to jointly address compressor revamp opportunities in India’s fertiliser sector. The MoU, signed on April 9, 2025, will remain in effect for 10 years unless extended by mutual consent. Under the agreement, BHEL will act as the lead bidder for targeted compressor train revamp projects in India, while Nuovo Pignone will serve as the nominated vendor with a defined scope of work.

Coromandel International | Fertiliser firm said it has signed a Memorandum of Understanding (MoU) with Saudi Arabia’s Ma’aden, among the world’s largest phosphate fertiliser producers, to secure a long-term supply of Di-Ammonium Phosphate (DAP) and NP/NPK fertilisers. Over the years, Coromandel and Ma’aden have formed a fruitful partnership, with Ma’aden supplying ammonia. The new agreement will allow collaboration to expand, ensuring a consistent supply of essential fertilisers to support Indian agriculture.

Infosys | India’s second largest IT services company announced the extension of its long-standing strategic collaboration with Allied Irish Banks (AIB). The expanded engagement builds on a decade-long partnership between the two organisations. As part of the renewed agreement, Infosys will take on broader responsibilities to support AIB’s acceleration of key transformation initiatives aimed at enhancing customer experience and delivering greater value to stakeholders across its operations in Ireland and the UK.

Indian Bank | Chennai-based bank said it will reduce its Repo Benchmark Rate and Repo Linked Benchmark Lending Rates (RBLR), effective April 11, 2025. The Repo Benchmark Rate for all repo-linked loans will drop from 6.25% to 6.00%, while the RBLR will decrease from 9.05% to 8.70%, according to a filing.

Punjab National Bank | The bank announced a 25-basis-point cut in its Repo-Linked Lending Rate (RLLR), effective April 10, 2025. The RLLR will fall from 9.10% (including a 20 bps spread) to 8.85% (including a 20 bps spread), the lender said. PNB said its Marginal Cost of Funds Based Lending Rate (MCLR) and Base Rate will remain unchanged, meaning only borrowers tied to the RLLR will benefit from lower EMIs.

Sanofi | The company announced that its Managing Director, Rodolfo Hrosz, will step down from his role effective April 30, 2025, to take up another position within the Sanofi group, the company said in a regulatory filing. The board of directors accepted Hrosz’s resignation during a meeting held on April 9 and expressed appreciation for his significant contributions during his tenure. Hrosz will cease to be a key managerial personnel, senior management personnel, and a member of board committees at the close of business hours on April 30.

Bank of India | State-owned bank said the bank has revised its Repo Based Lending Rate (RBLR) to 8.85%, effective April 9, 2025, following the Reserve Bank of India’s decision to cut the repo rate by 25 basis points to 6.00%. The RBLR adjustment reflects the unchanged markup of 2.85% over the revised repo rate. Previously, the effective RBLR stood at 9.10%, based on the earlier repo rate of 6.25%.