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Bharat Heavy Electricals (BHEL) has achieved yet another significant milestone in its 'Make in India' initiatives for the rail transportation sector by commencing supply of underslung traction transformers for the prestigious Vande Bharat Sleeper Train project being executed by BHEL-led consortium with TRSL.
This development further strengthens BHEL's strategic entry into the semi-high-speed propulsion segment, with operational speed of up to 160 kmph and design speed of 180 kmph. The Traction Transformers are being despatched to Kolkata for final assembly of the Vande Bharat Sleeper Trains. In addition, another key propulsion system equipment, the Traction Motor, has been developed and manufactured by BHEL's Bhopal unit.
Also, BHEL–Jhansi, building on its strong legacy in rolling stock and railway equipment, has achieved a significant milestone having recently received an order for Rail Borne Maintenance Vehicles (RBMV). The project for such track machines is a part of the specialized rolling stock segment of the railway infrastructure domain, reflecting the plant's expanding role beyond conventional rolling stock applications. The order aligns with the GOI initiatives such as ‘Make in India' and ‘Aatmanirbhar Bharat', as the RBMVs will be manufactured domestically, contributing to indigenisation and self-reliance in railway track maintenance technologies. RBMVs are specialized railway vehicles used for construction, inspection, repair, and upkeep of railway tracks. They ensure track safety, ride comfort, and longer asset life by reducing manual labour and increasing precision. The vehicles will be designed and manufactured at BHEL's Jhansi Plant.
Biocon announced the successful completion of a Qualified Institutions Placement (QIP), raising Rs 4,150 crore (~USD 460 million) through the issuance of 112,664,585 equity shares of face value Rs 5 each to eligible qualified institutional buyers at the issue price of Rs 368.35 per equity share (including a premium of Rs 363.35 per equity share).
The QIP, which opened on 12 January 2026, and closed on 14 January 2026, attracted strong investor interest from a broad mix of domestic and international participants, reflecting robust confidence in Biocon's growth prospects.
The proceeds from the QIP will be primarily utilized to meet the cash consideration payable to Mylan Inc. (Viatris) for buying out its shareholding in Biocon Biologics, including repayment of debt availed in this regard. Biocon recently announced that its Board of Directors had approved a strategic corporate action to acquire all remaining minority shareholdings, including Viatris' stake, thereby making Biocon Biologics a wholly owned subsidiary of the Company.