Sigma Advanced Systems Ltd has signed an export contract worth $104.9 million USD, equivalent to approximately 1013 crore Indian rupees. This order was placed by a buyer from North America and involves the production and delivery of 147,000 next-generation 155mm shells featuring base bleed technology.
According to a report filed by the company with the exchange registry on Monday, the execution of this contract will take between six and twelve months. The Hyderabad-based company noted that this order marks a transition to manufacturing more complex artillery ammunition, following previous contracts for 155mm fuzes and M107 shell casings.
The new project is expected to increase the company's revenue and EBITDA margin while strengthening its reputation as a long-term supplier of defense systems globally. The company stated that this order will contribute to increased profits and reinforce its status as an export-qualified supplier, potentially paving the way for further agreements with international clients.
Base bleed technology is designed to address the aerodynamic drag issue that occurs at the rear of a shell during flight, which leads to reduced range. Shells equipped with this technology feature a gas-generating block at the base that burns in flight. This fills the low-pressure zone behind the shell, thereby reducing resistance.
Manufacturers note that this allows for an increase in firing range by approximately 15–30 percent compared to traditional shells. Furthermore, they remain compatible with existing 155mm howitzers in service, making it a relatively inexpensive way for militaries to extend the range of their current artillery.
Global demand for such ammunition has sharply increased amid ongoing conflicts in Ukraine and West Asia. These events have depleted stockpiles among NATO and allied armies, forcing governments to prioritize ammunition production and ensure long-range fire support.
Sunil Kalidindi, CEO and Executive Director of Sigma Advanced Systems, stated in his announcement: 'Defense manufacturing is ultimately built on trust, which is earned through consistent delivery, uncompromising quality, and the ability to scale complex programs.' He added that such contracts reflect the confidence of global clients in Sigma's manufacturing capabilities and confirm the company's commitment to becoming a long-term partner for leading defense organizations in global markets.
The Indian airline IndiGo, the largest carrier in India, announced on Monday the appointment of insider Kiran Thadimarri to the position of Chief Financial Officer (CFO). He will take over this role from Gaurav Negi.
Kiran Thadimarri, who is currently the Deputy CFO of IndiGo, previously worked at the Indian e-commerce firm Udaan, as well as at General Electric. His appointment will take effect on July 28.
Gaurav Negi, who held the position of the airline's financial head since 2022, will transition to a role as an advisor.
IndiGo forecasts mainly stable capacity growth for the current quarter after the company reported a second consecutive quarterly loss last week. The margins of airlines like IndiGo, which do not hedge fuel costs, are decreasing due to the sharp rise in aviation fuel prices caused by the conflict in Iran, which pushed crude oil prices above $100 per barrel.
Indus Towers, a company engaged in telecommunication infrastructure, reported a modest increase in profit in the first financial quarter of 2027. Meanwhile, expenses exceeded revenue, although network expansion initiated by clients supported the company's overall performance.
Indus Towers' annual profit showed a minimal growth of 0.5 percent. Net profit increased from INR 1736.8 crore in the first quarter of the 2026 fiscal year to INR 1745.8 crore in the quarter ending June 30, 2026. The telecommunications infrastructure company's revenue grew by 4.6 percent year-on-year, exceeding INR 8431.1 crore in the first quarter of the 2027 fiscal year compared to INR 8058 crore for the same period in the previous fiscal year.
The total base of Indus Towers towers increased by 6.3 percent year-over-year, reaching 267,611. However, the firm's expenses grew by 6.62 percent year-over-year, outpacing the revenue growth rate for the same period. The EBITDA margin increased by 3.1 percent year-over-year, amounting to INR 4521 crore in the first quarter of the 2027 fiscal year compared to INR 4390 crore in the first quarter of the 2026 fiscal year.
Compared to the last quarter of the 2026 fiscal year, which ended in March 2026, the telecommunications infrastructure company's profit decreased by 2.6 percent, standing at INR 1745.8 crore in the first quarter of the 2027 fiscal year versus INR 1792.9 crore. In sequential comparison, Indus Towers' expenses rose by approximately 7.5 percent, even with a 4 percent rise in revenue. Revenue grew from INR 8101 crore in the quarter ending March 2026 to INR 8431.1 crore in the quarter ending June 2026, while expenses increased from INR 3636.7 crore in the fourth quarter of the 2026 fiscal year to INR 3910.3 crore in the first quarter of the 2027 fiscal year.
Prachur Sah, Managing Director and CEO of Indus Towers Limited, stated that the company demonstrated resilient results despite supply chain disruptions caused by geopolitical events. He noted that this success was ensured by client-initiated network expansion, prudent cost management, and strong cash generation. Furthermore, he announced that the company had received licenses in three target African markets and plans to begin implementing projects in 2026.
Indus Towers Limited is one of the leading providers of passive telecommunication infrastructure in the country, possessing a portfolio of 267,611 telecommunication towers across all 22 telecom circles.
Radisson Hotel Group announced the signing of contracts for the construction of ten new hotels during July, covering seven states. These projects include developments in pilgrimage sites, wildlife tourist areas, and major urban markets.
According to the statement, these ten new projects reflect the company's deliberate strategy: to integrate its premium brands into high barrier-to-entry markets while utilizing a low-asset franchise model for rapid penetration into underserved second and third-tier cities. Nikhil Sharma, Managing Director and Chief Operating Officer of Radisson Hotel Group for South Asia, emphasized that this dual approach allows for depth in metropolises and breadth in developing regions.
In cities associated with temples, Radisson Hotel Group announced entry into four markets, including two projects in Andhra Pradesh: Radisson Hotel Tirupati and Park Inn & Suites at Kadapa Airport, as well as Park Inn & Suites in Mathura-Vrindavan. Furthermore, the group announced its first international hotel near the Tadoba-Andhari tiger reserve called Jungle Home Resort Tadoba. A Park Inn & Suites is planned to open in Nainital, which will be the group's second hotel in this mountain resort.
In Bengaluru, where the group already has seven operating properties, new projects were signed: Lavish Hotel, Radisson Blu Resort & Spa, and Park Inn Electronic City. With these additions, the hotel conglomerate aims to meet the demand for corporate events related to information technology (MICE), as well as weekend and short-stay leisure segments.
It was also noted that the Park Inn & Suites in Kalaburagi marks the beginning of Radisson's presence in North Karnataka. In the states of Rajasthan and Gujarat, resort-type projects under the Radisson Blu Resort & Spa brand were signed in Sawai and Vadodara, respectively.
Davashish Srivastava, Vice President of Development for Radisson Hotel Group for South Asia, noted that the distinguishing feature of this portfolio is its diversity. It includes both greenfield construction and resort projects, as well as opportunities to convert existing properties and place hotels in new pilgrimage and wildlife locations.
Radisson Hotel Group is one of the largest international hotel operators in the country, with about half of its portfolio concentrated in second and third-tier markets. The group operates in over 100 countries worldwide.
