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The Shapoorji Pallonji Group’s talks with the Tata Group over its 18.4% stake in Tata Sons are focused on a structure that could allow it to raise funds in multiple tranches, enabling the construction conglomerate to retire a portion of its high-cost debt in the near term, according to a source familiar with the discussions. Valuation exercises involving Tata Sons’ unlisted businesses are underway as part of efforts to arrive at a value for the holding company. Any transaction involving the SP Group’s stake is likely to be structured in tranches aligned with its debt repayment requirements, with the first tranche potentially raising as much as Rs 25,000 crore, the source said, requesting anonymity.
Paras Defence and Space Technologies‘ subsidiary, Paras Semiconductors, has signed a Memorandum of Understanding (MoU) with the Department of Science and Technology, acting through the MP State Electronics Development Corporation (MPSeDC), to set up an advanced semiconductor packaging facility in Madhya Pradesh. The company plans to invest around Rs 6,200 crore in the project.
Ikea India is evaluating an entry into quick commerce and third-party e-commerce platforms while preparing to expand beyond the country’s largest metro markets, signalling the next phase of growth for the Swedish furniture retailer as it accelerates its omnichannel strategy. Chief Commercial Officer Adosh Sharma said the retailer was closely studying quick commerce and third-party platforms, but any foray would have to strengthen Ikea’s overall customer experience rather than merely add another sales channel. “Online is a strong business for us.
Indian Hotels Company Ltd (IHCL) reported a 20.8% year-on-year (y-o-y) increase in consolidated net profit for the first quarter of FY27 (Q1FY27), as domestic demand remained robust owing to the wedding and holiday season. The results were declared after market hours on Tuesday. Markets such as Goa, Bengaluru, Delhi and Rajasthan were among key contributors during the quarter.
Adani Energy Solutions reported a more than two fold jump in its Q1FY27 consolidated net profit at Rs 1,149 crore. The company had reported net profit at Rs 512.48 crore in Q1FY26 showing a 124.4% year-on-year(YoY) jump in Q1FY27. Revenue from operations of Adani Energy Solution stood at Rs 9,711.08 crore, up 42.41% YoY from Rs 6,819.28 crore reported in Q1FY26. On sequential basis, Net profit surged 68% quarter-on quarter (QoQ). Revenue in Q1FY27 also increased 30.47% QoQ.
Bharat Forge Ltd on Wednesday said it has signed a memorandum of understanding (MoU) with French-Canadian heavy-lift airship company FLYING WHALES to jointly develop and manufacture heavy-lift airships in India for defence and strategic applications. The agreement, signed at the Farnborough International Airshow 2026, will see the two companies work towards establishing manufacturing, integration and production of FLYING WHALES-Bharat Forge airships in India, in line with the government's Make in India and Aatmanirbhar Bharat initiatives.
FMCG major Nestle India on Wednesday reported a 48.26 per cent on-year rise in consolidated net profit to Rs 958.68 crore in the June quarter of this financial year, supported by strong volume growth. The company had posted a consolidated net profit of Rs 646.59 crore in the corresponding period last fiscal, Nestle India said in a regulatory filing. Strong Revenue Performance Nestle India's revenue from Sale of Products was up 25.4 per cent at Rs 6,363.27 crore in the June quarter of FY27. This was at Rs 5,073.96 crore in the corresponding period a year ago.
Singapore Airlines has indicated its willingness to infuse fresh funds into Air India despite a steady string of losses. The Indian carrier posted a record annual loss of Rs 22,000 crore in FY26 — prompting bailout discussions between promoters Tata Group and Singapore Airlines. The company reported a record revenue of SG$20.5 billion for FY26 but saw net profit plunged 57.4% year-on-year to SG$1.18 billion— mainly owing to Air India’s losses and an accounting gain in the previous year.
The country’s largest cement maker, UltraTech Cement, on Monday reported better-than-expected June quarter (Q1FY26) numbers as demand remained resilient from user industries such as infrastructure, housing and real estate. The earnings beat came as cement players undertook price hikes in response to the energy crisis triggered by the Iran war in the said quarter. The Aditya Birla Group firm’s consolidated net profit rose nearly 17% year-on-year (y-o-y) to Rs 2,599 crore in Q1, ahead of analysts’ estimates of Rs 2,490 crore for the period.
A Gulf-based airline has conducted preliminary due diligence to evaluate a potential acquisition of troubled carrier, SpiceJet, according to people familiar with the matter. The exercise, carried out through an advisory firm a few months ago, is understood to be at an exploratory stage, with no formal proposal submitted so far. It is not immediately clear whether the airline is evaluating the acquisition of a controlling stake or the carrier in its entirety. Queries sent to SpiceJet remained unanswered till the time of going to the press.
Volkswagen AG is in advanced discussions with India’s JSW Group, said people familiar with the matter, as the German automaker seeks an ally to infuse fresh capital and bolster its local unit in the world’s third-largest auto market. The two sides are working toward a potential agreement in the coming weeks involving JSW making an investment in closely held Skoda Auto Volkswagen India Pvt., the people said, asking not to be identified as the discussions are confidential. The Sajjan Jindal-led conglomerate is seeking a majority stake in the venture, the people added.
Bajaj Auto Ltd on Tuesday reported a strong set of consolidated earnings for the fiscal first quarter, with net profit and revenue registering sharp year-on-year growth. The two-wheeler and three-wheeler maker posted a consolidated net profit of Rs 3,225.63 crore for the first quarter of FY27, up 45.9 percent from the year-ago period. Bajaj Auto's revenue from operations rose 65 percent year-on-year to Rs 21,688.83 crore during the April-June quarter, compared with the corresponding period last year. Shares of Bajaj Auto recovered from intraday losses and were trading nearly flat at Rs 10,526 in afternoon trade.
Profit and revenue jump: Net profit rose 79% YoY to ₹220 crore, while revenue climbed 28% to ₹2,448 crore, supported by payments and financial services growth. Record operating margin: EBITDA surged 182% to ₹203 crore with margin doubling to 8%, reflecting AI-driven efficiency and operating leverage. Board's capital call: Bonus share plan dropped in favour of long-term growth; ₹100 crore set for Paytm Money expansion and IPO fund use revised.
Mukesh Ambani-owned Reliance Industries Limited's telecom arm, Reliance Jio, reported a rise in its average revenue per user (ARPU) to Rs 215.6 for the June quarter, while its subscriber base crossed 533 million, helped by continued gains in market share, 5G adoption and growth in digital services, the company said on Friday. The telecom operator added 8.9 million subscribers during the quarter, taking its customer base to 533.3 million, while monthly churn improved to 1.6%. ARPU increased from Rs 214 in the March quarter to Rs 215.6, supported by a better subscriber mix and seasonal trends, though partly offset by promotional schemes for fixed broadband customers.
Newly appointed Hindustan Copper Ltd (HCL) Chairman and Managing Director Anupam Mishra on Saturday said the company was working at a fast pace to double the annual production capacity of its Malanjkhand Copper Project (MCP) in Madhya Pradesh's Balaghat district from 2.5 million tonnes to 5 million tonnes by 2030. In his first visit to the project after taking charge as HCL's CMD earlier this month, Mishra told PTI that the Miniratna Category-I public sector undertaking had also planned phased capital expenditure to raise its overall production capacity to 12.2 million tonnes by 2030.
Reliance Consumer Products Ltd's (RCPL) soft drinks brand Campa has gained double-digit market share in key markets, helping Reliance emerge as the country's third-largest player in the non-alcoholic ready-to-drink (NARTD) beverages segment. Reliance Industries, in its Q1 FY27 earnings call, said its beverages business generated Rs2,900 crore in revenue during the June quarter, accounting for more than half of the segment's revenue reported in the previous financial year. The growth was driven by brands such as Campa and Independence.
HDFC Bank’s net profit for the quarter ended June grew 5% on-year to Rs 19,060 crore, missing analyst expectations. The bottomline for the lender was pegged at Rs 19,720 crore as per Bloomberg estimates. Net profit was up on the back of falling provisions and steady growth in net interest income (NII). NII was up 7% on-year to Rs 33,534 crore in the reporting quarter. However, it was lower than Bloomberg estimates of Rs 34,257 crore. Net interest margin (NIM) for April-June stood at 3.26% as against 3.40% a quarter ago.
Reliance Consumer will double down on core categories such as beverages and daily essentials as it eyes Rs 1 lakh crore revenue by 2030. In its Q1FY27 investor presentation, Reliance Consumer, which has demerged from Reliance Retail, stated that it had doubled revenue to Rs 8,600 crore versus last year, led by brand Campa in beverages (Rs 2,900 crore in Q1 sales) and brand Independence in staples (Rs 3,200 crore in Q1 sales). External channels contributed to over 80% of total sales in Q1 as the company expanded reach to over 3 million retail outlets with over 5,000 distributors on board.
Larsen & Toubro (L&T) has secured multiple engineering, procurement and construction (EPC) orders worth between Rs 5,000 to 10,000 crore in the metals and minerals segment from public sector and private sector companies. The orders include projects in iron ore handling, steel plant expansion and zinc processing, strengthening the company’s presence across India’s metals and mining value chain. L&T bags iron ore handling project in Chhattisgarh L&T in its regulatory filing said it has won an order from India’s largest iron ore producer, a public sector company, for an 18 million tonnes per annum (MTPA) iron ore handling plant in Chhattisgarh. The project is part of the company’s plan to increase its iron ore production capacity to 100 MTPA by 2030.
Reliance Retail, the country’s largest organised retailer, on Friday reported a 14.1% year-on-year (y-o-y) decline in net profit to Rs 2,805 crore amid higher depreciation and investment in its quick commerce business. However, revenue growth in Q1 held up supported by a broad-based performance across consumption baskets, the company said in a post-results earnings call on Friday.
Tata Technologies reported an 11.4% sequential drop in net profit to Rs 180.8 crore for the June quarter. Excluding the one-time reversal of a provision under the new labour code in Q4FY26, the first-quarter profit growth was 11.3%. The company’s EBITDA margin for the quarter rose by 10 basis points to 16.1%. The operating EBITDA was up 6.1% to Rs 267.4 crore while revenue rose by 5.9% quarter-on-quarter to Rs 1,664.6 crore.
Jio Platforms (JPL) on Friday posted a 2.16% sequential decline in its net profit — its first ever — during the June 2026 quarter due to higher depreciation and finance cost related to 5G rollout. JPL’s consolidated net profit in the first quarter of FY27 fell to Rs 7,764 crore from Rs 7,935 crore in the January-March period. In the first quarter of the previous fiscal, it stood at Rs 7,110 crore, the company said. Revenue from operations rose 2.39% to Rs 39,713 crore from Rs 38,259 crore in the preceding quarter, driven by continued gains in subscriber market share, organic average revenue per user (Arpu) growth and scale-up of digital services.
Reliance Industries started FY27 on a strong note supported by strong performance in its telecom, retail and oil-to-chemicals (O2C) businesses. All the three verticals delivered double-digit growth. Consumer businesses, led by Jio and Retail, contributed more than half of Reliance’s consolidated EBITDA during the quarter. Commenting on the performance, Reliance Industries Chairman and Managing Director Mukesh Ambani said the company has made a steady start to FY27 despite geopolitical tensions and volatile commodity markets.
JSW Steel’s Q1FY27 profit doubled to Rs 4,696 crore, up from Rs 2,209 crore reported in Q1FY26. The company’s Q1FY27 revenue from operations stood at Rs 47,364 crore, up 9.7% year-on-year (YoY) from Rs 43,147 crore reported in Q1FY26. On a sequential basis, the steel maker’s revenue and profit both declined. JSW Steel’s Q1 profit fell sharply by 75.6% QoQ, while revenue declined 7.46% compared to Q4FY26.
Axis Bank on Saturday reported a standalone net profit of Rs 7,114 crore for the April-June quarter of FY27, marking a 22.5% year-on-year rise from Rs 5,806 crore in the corresponding quarter of the previous financial year. The private lender’s net interest income (NII) meanwhile rose more than 8% YoY to Rs 14,646 crore during the first quarter of the ongoing financial year 2027, from Rs 13,560 crore reported in the same period last year. Notably, this is higher than Nomura and Kotak Institutional’s estimates. Net interest margin during the quarter under review stood at 3.46%.
ITC Hotels' Thursday reported a 14.8% increase in consolidated revenue at Rs 936 crore this April-June, compared to Rs 816 crore in same period last fiscal. And the hospitality major's profit rose 36% to Rs 180 crore, up from Rs 133 crore last Q1. The company's share closed 5.2% lower on BSE at Rs 174, on a day when the broader market was down 0.3%. The company had eight new signings in Q1, with its managed portfolio surpassing 200 hotels with about 16,000 keys.
Kotak Mahindra Bank Ltd on Saturday reported a 25.6 percent year-on-year rise in standalone net profit for the April-June quarter, beating Street estimates, while net interest income (NII) came in slightly below expectations. Asset quality also improved from a year ago. The private sector lender posted a standalone net profit of Rs 4,122.96 crore for the quarter ended June 30, compared with the CNBC-TV18 poll estimate of Rs 3,910 crore. Net profit stood at Rs 3,282 crore in the corresponding quarter last year.
Axis Bank on Saturday reported a 23 percent year-on-year rise in standalone net profit to Rs 7,114 crore for the April-June quarter of FY27, driven by steady operating performance and stable asset quality. The private sector lender had reported a net profit of Rs 5,806 crore in the corresponding quarter last year. Net interest income (NII), the difference between interest earned and interest paid, increased 8 percent year-on-year to Rs 14,646 crore from Rs 13,560 crore a year ago. Net interest margin (NIM) for the quarter stood at 3.46 percent. Fee income rose 7 percent to Rs 6,156 crore, while total non-interest income stood at Rs 6,735 crore. Operating profit came in at Rs 11,659 crore, while core operating profit rose 10 percent year-on-year to Rs 11,122 crore.
Punjab National Bank reported a threefold jump in its net profit to Rs 5,253 crore for the first quarter of the 2026-27 fiscal, driven by an increase in its net interest income. The PSU lender's total interest income arrived at Rs 37,231 crore, as compared to Rs 36,319 crore in the previous sequential quarter. However, on a year-on-year basis, the total income fell marginally at 1 percent, from Rs 37,232 crore. The country's third-largest PSU lender posted a domestic net interest margin of 2.64 percent for Q1 FY27, a 20-basis-point contraction from 2.84 percent posted in the previous corresponding quarter. When compared with Q4 FY 26, the NIM, however, rose by three bps from 2.61 percent.
JSW MG Motor India will invest Rs 1,400 crore this year to step up localisation, launch new products and expand manufacturing capacity, with a broader investment plan of around Rs 4,000 crore over the next phase of growth as it prepares a wider portfolio of new energy vehicles (NEV). In an interaction with Fe, Anurag Mehrotra, managing director, JSW MG Motor India, said the immediate investment will be deployed across three priorities. “The first priority is localisation because that is the biggest unlock for our profitability. The second is new products, and the third is plant expansion,” he said.
Jio Financial Services posted its June quarter profit at Rs 830 crore, surging nearly 156% from Rs 325 crore reported in the year-ago period. The sequential jump in profit was even sharper at 209% from Rs 272 crore posted in Q4FY26. The company’s total revenue from operations for Q1FY27 advanced by a whooping 227% at Rs 2,004 crore against Rs 612 crore posted in the same quarter last year. On a sequential basis, its revenue advanced by 96% from Rs 1,019 crore reported in the preceding quarter.
IT firm Wipro reported flat profit at Rs 3,352 crore, rising 0.6% year-on-year. Wipro Q1 revenue also came lower-than-expected, hurt by weakness in its manufacturing segment and a part of its Americas business. Consolidated revenue in Q1FY27 rose 10.6% to Rs 24,479 croreYoY but revenue in constant currency, or stripping out exchange rate effects, rose only 0.9% on-year. Wipro Q1FY27: 5 key highlights Here are 5 key highlights fromWipro’s Q1FY27.
ACME Solar Holdings has secured long-term project funding of Rs 2,646.64 crore from REC for its 450 MW/1,800 MWh Assured Peak Power Project being developed through its subsidiary, ACME Greentech Seventh. The company said it will use the funds to develop and construct the renewable energy project. REC will act as the sole lender for the project, with the financing extending over a period of 20 years. he project has a 25-year power purchase agreement (PPA) with SJVN. Under the agreement, ACME Solar will supply power at a tariff of Rs 6.74 per unit.
Tata Electronics Pvt. is preparing to make India’s first semiconductor wafers on far older technology than it originally expected, underscoring the challenges the country faces in trying to build a domestic chip industry from scratch. The tech arm of the sprawling Tata conglomerate is preparing to build the country’s first large-scale chip fab or production plant mostly based on 90-nanometer process technology at its facility at Dholera in western Gujarat state, said people familiar with the matter, who asked not to be identified discussing private deliberations.
Tech Mahindra posted 8.2% sequential rise in net profit for the first quarter of the fiscal at Rs 1,465 crore (Q4: Rs 1,353.8 crore), buoyed by healthy revenue growth, the tax tech major announced on Thursday. The net profit however trailed Bloomberg estimates of Rs 1,583 crore. Revenue for the quarter under consideration was up 4.2% sequentially at Rs 15,712 crore (Q4: Rs 15, 076 crore), beating Bloomberg estimates of Rs 15,458 crore.
When Tata Consultancy Services (TCS) said it would build a dedicated cadre of upto 8,900 forward-deployed engineers (FDEs), it appeared to be another hiring move driven by the AI boom. In reality, it signals something much bigger. India’s largest IT services company is positioning itself to compete directly with AI model makers such as OpenAI and Anthropic for the fastest-growing part of the AI value chain: enterprise deployment.
Reliance Industries (RIL) is expected to improve its profitability and see a strong sequential rebound in Q1FY27 after a weak performance on the profit front in Q4FY26. Brokerages expect strong growth in the oil-to-chemicals (O2C) segment led by expansion in petchem spreads and benefit from SEZ refinery and Jio vertical. The company is also expected to post higher gross refining margins in Q1.
Tata Consultancy Services (TCS) has launched a new Consumer Business Group (CBG) Gemini Experience Center (GEC) in Kolkata to help consumer-facing businesses build and deploy artificial intelligence (AI) solutions using Google Cloud and Google’s Gemini models.
ACME Solar Holdings has secured long-term project funding of Rs 2,646.64 crore from REC for its 450 MW/1,800 MWh Assured Peak Power Project being developed through its subsidiary, ACME Greentech Seventh. The company said it will use the funds to develop and construct the renewable energy project. REC will act as the sole lender for the project, with the financing extending over a period of 20 years.
Tata Consultancy Services (TCS) has launched the TCS Autonomous Engineering Lab Powered by NVIDIA at its Global Axis campus in Bengaluru. TCS in its regulatory filing said, “The new facility will serve as a physical AI hub to accelerate the development and real-world deployment of AI-led solutions across mobility and manufacturing using NVIDIA AI Infrastructure.”
Oil-to-metals conglomerate Vedanta on Tuesday unveiled an ambitious expansion roadmap across its metals, mining and energy businesses, outlining plans to sharply increase production capacities over the coming years while committing a $5 billion investment in its oil and gas business.
The Union Cabinet on Wednesday approved two flagship manufacturing programmes with a combined outlay of nearly Rs 1.9 lakh crore, marking the government’s shift from attracting electronics assembly to building a complete domestic ecosystem spanning semiconductor design, fabrication, components and mobile phone manufacturing. The Cabinet approved the Rs 1.27 lakh crore India Semiconductor Mission (ISM) 2.0 and a Rs 62,500 crore Mobile Phone Manufacturing Scheme (MPMS), both of which build on the first generation of incentive programmes but significantly widen their scope to deepen domestic value addition, strengthen supply chains and position India as a global manufacturing base for critical electronics.
The Tata Group, Infosys, LIC, HDFC Group and Reliance Group retained their positions as India’s five most valuable brands in that order, according to a report by Brand Finance released today. The report notes that nine of the top 10 brands recorded brand value growth, driven by digital transformation, infrastructure, manufacturing and innovation across key sectors despite a challenging global environment. The resilience of the top 100 brands is reflected in the 7% growth in collective brand value year-on-year, reaching $252.8 billion. Tata Group, which retained its top spot in the ranking for the 18th consecutive year, recorded a 6% rise in brand value to reach $33.6 billion on the back of strategic moves in electronics, data infrastructure and digital platforms.
Vedanta on Tuesday outlined an ambitious expansion roadmap for its newly demerged businesses, targeting higher production across aluminium, zinc, copper, steel, oil and gas and power. Chairman Anil Agarwal said the group’s next phase of growth would be driven by production, partnerships and purpose. “The future of Vedanta will be built on three pillars: Production. Partnerships. Purpose. Produce more. Partner better. Purpose beyond profit,” Agarwal said while addressing shareholders during the company’s 61st annual general meeting (AGM).
India’s electric car market is on the rise, but the world’s most recognisable EV maker is struggling to ride the wave. A year since its much-awaited India debut, the Elon Musk-led Tesla has registered just 486 cars in the country, according to Vahan data till 5 pm on Tuesday. In June, Tesla registered just 35 cars, according to data from the Federation of Automobile Dealers Associations (Fada). In comparison, BMW and Mercedes-Benz sold 486 and 234 EVs, respectively. In the luxury EV market, Tesla’s share stood at 4.4%, against BMW’s 60.8% and Mercedes-Benz’s 29.1%.
Anil Agarwal-led Vedanta Group has announced its ambitious plans as the conglomerate aims to expand its metal production and ramp up exploration across its mineral blocks. Speaking at the company’s AGM, Agarwal said that over the next three to five years, the group will invest $5 billion in its entity Vedanta Oil. Vedanta Group to triple zinc and lead production Under the Vedanta group’s 3P plan, the first phase, which is ‘Produce’, will include tripling zinc and lead production to 3 million tonnes by 2031. The plan also comprises doubling silver output to 1,500 tonnes and increasing copper production to 1 million tonnes by the end of the decade.
The Tata Group has applied for approval to invest 100 billion rupees (around $1 billion) in a shipbuilding venture in Kerala, state's chief minister said in an interview to Bloomberg. Kerala Chief Minister V.D. Satheesan said in an interview at Thiruvananthapuram that the conglomerate is prepared to invest in shipbuilding and that the state government would provide the necessary land, according to the report. Satheesan added that the state administration is favourably considering the proposal and expects to approve it within a month, Bloomberg said.
Specialty coffee chain operator Blue Tokai is aiming to more than triple its store count over the next four years, as the Starbucks' biggest India rival doubles down on India's fast-growing premium coffee market, Bloomberg News reported on Wednesday. The company plans to expand its network from about 240 outlets to 800 by FY30, opening around 120 new cafes this financial year across major metropolitan centres while entering newer markets such as Ahmedabad and Lucknow, co-founder and chief executive Matt Chitharanjan told Bloomberg.
State-run BSNL has provisionally posted around a 10 per cent increase in revenue from operations in the first quarter of fiscal year 2026-27, Union Telecom Minister Jyotiraditya Scindia said on Monday. While speaking to the media after the review meeting of BSNL for the first quarter of the current fiscal, Scindia said that BSNL's enterprise business segment and consumer mobility have shown growth while the consumer fixed access segment has remained almost flat.
Google is racing to position India as a proving ground for the next phase of artificial intelligence (AI), unveiling a slate of security protocols, on-premise computing options and education programmes on Tuesday. The aim is to win over the country's enterprises, developers and startups as AI systems shift from answering questions to autonomously executing tasks. At the Google I/O Connect India 2026 in Bengaluru, the company also highlighted that, based on third-party evaluations, the Google Play and Android ecosystem generated Rs 5.3 trillion ($ 60 billion) in revenue for app publishers and the wider economy in India in 2025, growing by 28 per cent from 2024.
Union Bank of India on Wednesday reported a 29.5% rise in net profit for the June quarter to Rs 5,332 crore, helped by higher net interest income, growth in fee income and lower provisions despite a modest rise in credit costs. Net interest income, the difference between interest earned and interest paid, rose 10.1% year-on-year to Rs 10,037 crore as global advances grew 12.5% to Rs 10.96 lakh crore while interest expenses fell 3.6%. Net interest margin improved to 2.80% from 2.76% a year earlier and 2.64% in the preceding quarter.
HCL Tech reported the highest sequential dip in headcount since Q1FY25 for the quarter ended June 30. The IT major’s employee base reduced by 3,292 in the first quarter of FY27. At the end of the quarter, its total headcount stood at 223,889 compared to 227,181 in the March quarter. This contrasts with Tata Consultancy Services (TCS) adding 9,200 employees in Q1, marking a second consecutive quarter of net hiring after the company added 2,356 employees in the March quarter.
Grasim Industries on Monday announced that its subsidiary Aditya Birla Renewables (ABReN) will acquire Shell’s India renewable energy platform, Sprng Energy, in a transaction with an enterprise value of Rs 17,200 crore ($1.8 billion), marking one of the largest renewable energy acquisitions in India. The Aditya Birla Group is believed to have lined up around Rs 15,000 crore of acquisition financing from State Bank of India and Axis Bank ahead of the transaction.
HCL Technologies on Monday reported a better-than-expected performance for the June quarter, with consolidated net profit rising 3% sequentially to Rs 4,624 crore, ahead of Bloomberg consensus estimates. The company also posted its highest-ever first-quarter net new bookings of $2.4 billion. The IT services major retained its FY27 revenue growth guidance of 1-4% and the margin guidance of 17.5-18.5%, in constant currency terms.
ICICI Prudential Asset Management Company reported a 25.51% QoQ increase in its net profit in Q1FY27 in its disclosure to the exchanges. The AMC’s net profit increased from Rs 769 crore in Q4FY26 to Rs 965 crore in Q1FY27. On a YoY basis, the AMC reported a 23.1% increase in its net profit from Rs 784 crore. The revenue from operations increased marginally from Rs 1,542 crore to Rs 1,564 crore during the quarter. The increase in net profit during the quarter was predominantly due to an increase in other income and a deferred tax credit. The fund house reported quarterly assets of Rs 11.17 lakh crore with a market share of 13.4% in Q1FY27 compared to Rs 9.44 lakh crore in Q1FY26.
Akasa Air is looking to raise 10.5 billion rupees ($110 million) through equity and debt, people familiar with the matter said, as India’s youngest airline seeks funds to overcome challenges brought on by the Iran war. The airline has approached existing as well as two new investors to raise about 8 billion rupees through equity, said the people, who asked not to be identified as the discussions are private. It is also in talks with state-run banks for at least 2.5 billion rupees in debt, they said, under an India government credit line for carriers hit by the conflict.
Spainish tech giant Submer Group on Monday announced a $2 billion investment in Madhya Pradesh semiconductor industry, a move expected to create nearly 5,000 direct employment opportunities. The announcement was made at the MP Tech Growth Conclave 3.0: GCC - Data Centres and Semiconductors, according to a senior state government official.
Tata Consultancy Services (TCS) is building a team of up to 8,900 forward-deployed engineers and hunting for AI acquisitions as it bets artificial intelligence will create new business rather than undermine outsourcing, two TCS executives told Reuters. The strategy emerges amid investor concern that AI could disrupt India’s $315 billion IT services industry by reducing demand for engineering teams, shortening project timelines and squeezing prices as clients seek a share of productivity gains.
Aditya Birla Group has proposed investing an additional $1.26 billion to triple the capacity of its Kansariguda alumina refinery in Odisha to 3 million metric tons per annum, the state government said on Saturday. The expansion, to be executed by the group entity Hindalco Industries, takes the total proposed investment in the refinery to about $2.1 billion, the statement said.
First, the good news. In a heartening sign of resilience, India’s top companies posted robust growth in the past financial year after a two-year hiatus, benefiting from benevolent commodity cycles and cost management that helped them navigate otherwise tough market conditions at home and abroad. Leavening that bit of cheer is a bit of bad news: uncertainty in West Asia despite the end of the US-Iran war. Even the status of Strait of Hormuz, the chokepoint for 60% of world oil trade, is unclear despite the truce.
State-run oil marketing companies are expected to post a combined EBITDA loss of about ₹60,000-62,000 crore year-on-year in Q1FY27, as the full impact of the West Asia supply shock, elevated crude prices, weaker rupee and sharp retail fuel under-recoveries hit their profit and loss statements despite strong refining margins, according to brokerage estimates. Dolat Capital said OMCs are likely to post an EBITDA loss of ₹60,000 crore, a decline of 301% YoY and 251% QoQ. For perspective, this exceeds 50% of HPCL’s market capitalisation.
Tata Consultancy Services‘ June-quarter performance suggests the recovery in technology spending is likely to remain gradual rather than broad-based, with analysts pointing to sustained strength in banking and financial services but persistent weakness in consumer-facing industries and discretionary spending. The company’s management struck an optimistic tone on client conversations and deal activity, particularly in banking, financial services and insurance (BFSI), technology and manufacturing.
Vikram Solar on Friday signed a Memorandum of Understanding (MoU) to set up a battery energy storage systems (BESS) manufacturing facility at the SIPCOT Industrial Park at Gangaikondan in Tirunelveli district in Tamil Nadu at an investment of ₹15,037 crore. The unit is expected to generate 2,670 jobs. The facility, spread across nearly 600,000 square feet, is designed to eventually house module, cell, wafer and ingot production as part of the company’s push towards a fully vertically integrated manufacturing base. The battery storage plant extends that strategy into energy storage.
Bank of Maharashtra (BoM) on Friday reported a 26.84% year-on-year (y-o-y) jump in net profit to Rs 2,020 crore for the June quarter, driven by healthy growth in net interest income, improved asset quality and a sustained push towards low-cost deposits. Operating profit for the quarter rose 21.29% to Rs 3,117crore. Net interest margin was 3.85% against the bank’s full-year guidance of 3.75%. The bank attributed the performance to better asset quality, the Emergency Credit Line Guarantee Scheme (ECLGS) led MSME loan growth and a continued focus on mobilising low-cost deposits. The Bank’s International Branch became profitable in March 2026, within six months of commencing operations. Managing Director and CEO Nidhu Saxena said the bank had met all FY27 guidance numbers and, in some cases, exceeded them by a good margin. Net interest income rose 14.53% to Rs 3,770 crore. Regarding the FCNRB deposit mobilisation, he said it was early days, and there were no big numbers to report. They were in the process of formulating guidelines and setting internal targets. Saxena was confident of a sizable mobilisation by September as they were offering an interest rate of 6.60%, which was among the best by PSBs.
State-run Hindustan Copper Ltd (HCL) on Friday said it was moving in a "positive direction" over the proposed takeover of four Chilean copper blocks from state-owned Codelco, with transaction advisors already appointed to study the data and regulatory issues being examined on both sides. The development assumes significance as India seeks to secure critical raw materials for its green-energy transition and reduce reliance on imports for copper used in electrification and electric vehicles.
Tata Consultancy Services (TCS), on Thursday reported a 2.7% sequential decline in consolidated net profit for the April-June quarter, weighed down by a one-time legal provision, even as the country’s largest IT services company beat Street expectations on revenue and pointed to sustained demand for AI-led transformation projects. The company posted a net profit attributable to shareholders of Rs 13,349 crore, compared with Rs 13,718 crore in the preceding quarter. The figure was marginally below Bloomberg estimates of Rs 13,436 crore. Excluding the exceptional legal cost, however, net profit stood at Rs 13,849 crore, ahead of estimates.
Tata Consultancy Services (TCS) added 9,279 employees during the June quarter, its highest quarterly headcount addition in more than a year, signalling an improvement in hiring even as the company continues to reshape its workforce around artificial intelligence (AI).
India’s fast-moving consumer goods (FMCG) market witnessed an improvement in value growth during the June quarter (Q1FY27), supported by sustained momentum in rural markets, according to Bizom data shared exclusively with FE. Overall FMCG value growth rose to 6.8% in the April-June quarter, up from 3.6% recorded in the preceding January-March period (Q4), pointing to a sequential recovery in demand.
The share price of Tata Steel fell nearly 1% in early trade after the company released its provisional business update on July 8, after market hours. For Q1FY27, Tata Steel India’s crude steel production increased 11% year-on-year to 5.82 million tonnes from 5.23 million tonnes reported in the year-ago period. Domestic crude steel production rises 9% YoY The company said the rise in its domestic crude steel production was driven by higher output at its Jamshedpur and Kalinganagar units. Its domestic delivery volumes also jumped by nearly 9% to 5.17 million tonnes from 4.75 million tonnes. “Domestic deliveries grew 11% YoY, broadly in line with production, supported by enriched product mix and strong marketing franchise,” the company said in its filing.
Nissan Motor Co is open to exploring manufacturing partnerships with automakers beyond Renault in India, signalling strategic flexibility as it looks to expand in one of the world's fastest-growing passenger vehicle markets. Guillaume Cartier, chief performance officer at Nissan, told ET the company would consider contract manufacturing opportunities if it gets an appropriate proposal, though noting that there are no active discussions. "At this stage, I cannot say there is a specific discussion or negotiation. But I cannot say never," said Cartier.
The share price of Tata Steel fell nearly 1% in early trade after the company released its provisional business update on July 8, after market hours. For Q1FY27, Tata Steel India’s crude steel production increased 11% year-on-year to 5.82 million tonnes from 5.23 million tonnes reported in the year-ago period. Domestic crude steel production rises 9% YoY The company said the rise in its domestic crude steel production was driven by higher output at its Jamshedpur and Kalinganagar units. Its domestic delivery volumes also jumped by nearly 9% to 5.17 million tonnes from 4.75 million tonnes. “Domestic deliveries grew 11% YoY, broadly in line with production, supported by enriched product mix and strong marketing franchise,” the company said in its filing.
JSW Energy has commissioned 1,081 MW of renewable energy capacity in Q1FY27, taking its total installed power generation capacity to 14,535 MW. JSW Energy said in its regulatory filing said that the newly added capacity includes 442 MW of solar, 108 MW of wind, 381 MW of hybrid and 150 MW of hydro power projects. With the latest addition, the company’s renewable energy now accounts for 61% of the company’s total installed capacity.
India’s telecom companies head into the June-quarter earnings season with a familiar story getting a new twist: Bharti Airtel keeps growing, but increasingly it’s the African market doing the heavy lifting, while Vodafone Idea, after years of bleeding subscribers, finally looks like it has found a floor, as per the latest report by Nomura.
Tata Group expects its automotive business, including passenger and commercial vehicles, to grow to $100 billion in the next five years. Speaking at the 81st Annual General Meeting of the Tata Motors Passenger Vehicles (PV), Chairman N Chandrasekaran said that they are targetting Rs 40,000 crore in the domestic business and about 20 billion (British) Pound for Jaguar Land Rover (JLR). Chandrasekaran said Tata Motors Passenger Vehicles and JLR together are targeting $60 billion in revenue over the next five years. Of this, JLR is expected to contribute $45-50 billion, while Tata Motors’ domestic passenger vehicle business is expected to contribute around $15 billion.
Tata Power aims to nearly double its revenue to Rs 1 lakh crore and raise its profit after tax (PAT) to Rs 10,000 crore by 2030, on the back of aggressive bets in renewable energy, transmission, distribution and nuclear power, Chairman N Chandrasekaran said on Tuesday.
Renewable energy firm Premier Energies has bagged order wins worth Rs 3,011 crore for the first quarter of financial year 2027, the company said in its regulatory filing. These contracts comprise supply of solar cells scheduled across FY27 and FY28, it added. The share price jumped nearly 2% intra-day.
Swiggy has again signalled that it wants to become an Indian-owned and controlled company, even as its latest disclosure stops short of marking any change in its legal or operating status. The company said on Tuesday that its foreign investment stood at 49.76% of its fully diluted equity capital as of July 6.
State-owned Steel Authority of India (SAIL) has signed a memorandum of understanding (MoU) with Indonesian steelmaker PT Krakatau Steel (Persero) Tbk. to explore setting up a joint venture for manufacturing stainless steel slabs in Indonesia. The announcement was made during Prime Minister Narendra Modi's visit to Indonesia from July 6-8 as part of high-level engagements between the two countries.
Tata Motors has laid out an aggressive five-year growth strategy for its passenger vehicle business, targeting annual sales of more than 1.2 million units by FY30, a 20 percent market share in domestic passenger vehicle segment and a revenue target of Rs 1.4 lakh crore. The company is lining up investments of nearly Rs 40,000 crore in products and manufacturing as it sharpens focus on electric vehicles and profitability.
Renewable energy firm Premier Energies has bagged order wins worth Rs 3,011 crore for the first quarter of financial year 2027, the company said in its regulatory filing. These contracts comprise supply of solar cells scheduled across FY27 and FY28, it added. The share price jumped nearly 2% intra-day. Premier Energies: Order details The contracts secured for Q1FY27, include supply of 1,846 megawatt (MW) solar cells and modules and are scheduled to be delivered by FY27 and FY28. The names of awarding parties have not yet been disclosed.
State-owned Life Insurance Corporation of India (LIC) has highlighted stronger profitability, improving margins and sustained market leadership in its latest investor presentation, released ahead of meetings with institutional investors and analysts. The presentation, filed with stock exchanges on Monday, showed that LIC's net profit rose to $6.07 billion in FY26, while total premium income increased to $56.63 billion.
When Gautam Adani entered cement in 2022 through the acquisition of Ambuja Cements and ACC, many saw it as a natural extension of his infrastructure ambitions. His subsequent move into copper through Kutch Copper reinforced the view that the group was steadily building a commodities portfolio around sectors critical to India’s industrial growth. Now, Adani has turned to aluminium, one of the country’s most strategic metals. The $11.5 billion joint venture with Abu Dhabi-based International Holding Company (IHC) is one of the largest investments in India’s metals sector. It is also an attempt to enter a market long dominated by two powerful incumbents, Hindalco Industries and Vedanta Aluminium.
wal is preparing to write Vedanta's next growth chapter We choose difficult businesses, but they are also the right businesses to be in,” says Anil Agarwal. Few sectors test that conviction like natural resources, where fortunes are shaped as much by commodity cycles and regulation as by operational execution. Agarwal, the founder of the Vedanta Group, has spent decades navigating both. Now, after restructuring Vedanta Ltd into five separate listed companies, he is preparing for his next big wager—a $20-billion investment plan over the next three-five years, funded largely through internal cash generation.
Adani Enterprises’ defence arm, Adani Defence & Aerospace, has announced an investment of Rs 2,500 crore to set up what it calls South Asia’s largest private-sector missile manufacturing ecosystem in Shivpuri, Madhya Pradesh. The company said in a regulatory filing that it broke ground for the project on Saturday.”The project will set up an advanced missile ecosystem with composite propellant and Trinitrotoluene (TNT) production at a single location, creating India’s first backward-integrated private-sector capability of its kind,” Adani Defence & Aerospace noted.
New Delhi, Mumbai-based Oberoi Realty Ltd on Sunday said it has sold luxury homes worth Rs 8,109 crore in its newly launched project in Gurugram on strong consumer demand. The company had on June 29 announced its foray into the Delhi-NCR market with the launch of its first luxury housing project with a total investment of Rs 6,000 crore and a revenue potential of Rs 16,000 crore.
Life Insurance Corporation of India (LIC) paid ₹4.96 lakh crore in benefits to policyholders during FY26, equivalent to 93% of its net premium income for the year. Total benefits paid by the country’s largest life insurer rose 19% year-on-year from ₹4.16 lakh crore in FY25. Benefit payouts in life insurance include death claims, maturity benefits, annuity and pension payments, surrenders, withdrawals, interim bonus and other policyholder claims.
Andhra Pradesh will soon get a major low‑carbon steel complex in the Rayalaseema region-with a total investment of Rs 16,350 crore. Construction work for the JSW Integrated Steel Plant was launched by Chief Minister N Chandrababu Naidu on Friday, and commercial production is expected to commence by March 2028. The two‑phase project will ultimately deliver 2 million tonnes per annum (mtpa) of integrated steelmaking capacity. According to a government press release, it was “originally approved in 2019 and witnessed foundation ceremonies in 2019 and again in 2023”.
Nestle India will sharpen its focus on penetration-led volume growth by expanding its distribution network deeper into rural and smaller towns, as the FMCG major looks to drive sustainable growth despite an uneven consumption environment marked by high food inflation and patchy rural demand. Addressing shareholders at the company’s 67th annual general meeting (AGM), Chairman and Managing Director Manish Tiwary said long-term growth in India would come from reaching more households and increasing purchase frequency.
Adani Enterprises and Abu Dhabi-based International Resources Holding (IRH), an IHC Group company, through 2PointZero, announced plans to form a 50:50 joint venture (JV) to develop an integrated greenfield aluminium project in Odisha with an investment of $11.5 billion (about Rs 1.08 lakh crore). The JV signed a Memorandum of Understanding (MoU) with the Government of Odisha on Thursday to develop the project. The project will comprise a 4 million metric tonne per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, a 4,000 MW captive power plant and a 1 MMTPA downstream manufacturing park. It will be developed in two phases over five years, with investments of Rs 66,000 crore in the first phase and Rs 44,000 crore in the second.
Tata Steel is progressing towards its long-term target of building 40 million tonne per annum (MTPA) of steelmaking capacity, with recent and planned expansions expected to strengthen its manufacturing footprint across India. The steelmaker also expects to turn Ebitda and PAT positive in its UK operations by FY29. Addressing shareholders at the company’s annual general meeting (AGM) on Thursday, Chairman N Chandrasekaran said the commissioning of the Phase II expansion at Kalinganagar has taken Tata Steel’s total installed capacity to 26.1 MTPA, while expanding the Odisha plant’s capacity from 3 MTPA to 8 MTPA. The company is also expanding downstream capacities in tubes, tinplate and wires, along with the planned expansion of NINL (Neelachal Ispat Nigam) and the recently inaugurated 0.75 MTPA electric arc furnace (EAF) in Ludhiana.
IRB Infrastructure Developers will act as project manager for two national highway stretches currently under its infrastructure investment trust in a deal valued at approximately Rs 2,663 crore. This includes the Solapur–Yedeshi and Gulabpura–Chittorgarh highway projects. What did IRB Infrastructure announce? The Mumbai-based road developer said its board, at a meeting held on July 2, approved entering into Project Implementation Agreements with IRB InvIT Fund and two of its project special purpose vehicles, Solapur Yedeshi Tollway and CG Tollway.
Ahmedabad-based Adani Enterprises on Friday upsized its qualified institutional placement (QIP) to Rs 15,000 crore from a base size of Rs 10,000 crore, noticing huge investor demand for the issue. The share sale drew bids worth roughly Rs 38,000 crore, 3.8 times the base offer and among the strongest responses to a QIP in recent years. The order book was fully pre-filled before the launch, allowing the ports-to-power conglomerate to execute the deal within 48 hours, including investor roadshows, according to sources.
Jaguar Land Rover retail sales fell 15.3% year-on-year to 80,000 units in the first quarter of fiscal year 2027 as it grapples with supply constraints and softening demand, parent India's Tata Motors Passenger Vehicles said on Thursday. The British luxury carmaker sold 79,300 units wholesale in the first quarter, a 9.2% decline from a year earlier. A fire at a key component supplier temporarily squeezed supply during the reported quarter, the company said.
Despite being a late entrant, Tata Electronics has overtaken Taiwanese electronics manufacturing services (EMS) giant Foxconn to grab a larger share of assembling iPhones, which are exported from the country, during the five-year production linked incentive (PLI) scheme period between financial year 2021-22 (FY22) and FY26. According to data provided by vendors to the government, iPhones assembled by Tata Electronics, which were exported in this five-year period, were pegged at a value of $26.3 billion compared to Foxconn, which was behind at $25.6 billion. Closing the Gap in Total Production Not only that, Tata Electronics has been able to close in on Foxconn on its share of total production value of iPhones — exports as well as domestic market — made in the country.
Hero MotoCorp, India’s largest two-wheeler manufacturer, has committed an investment of ₹3,200 crore in Andhra Pradesh, aimed at transforming Tirupati into a global manufacturing and electric mobility hub. The announcement was made on Wednesday during the foundation stone-laying ceremony for its second Global Parts Centre (GPC) in Tirupati, being set up at an investment of ₹750 crore. “This investment will enhance our global supply chain, support our expansion across markets, and reaffirm our commitment to ‘Made in India, for India and the World,” Pawan Munjal, Executive Chairman, Hero MotoCorp, said.
Adani Group and Abu Dhabi-based investment conglomerate International Holding Company (IHC) plan to jointly invest $11.5 billion over the next few years to build a mega aluminium plant that could catapult India's total capacity by nearly 50%, said people familiar with the matter. This would be the second metals venture for Adani after its copper smelter in Gujarat that began operations last year, reflecting the power and ports group's strategy to secure commodity supplies for its expanding infrastructure empire. Adani and IHC will collectively make the investment through debt and equity towards building an aluminium smelter in Odisha with an annual capacity of more than 2 million tonnes, said the people cited above. They didn't disclose the investment split between the two partners.
State-owned CIL on Wednesday said coal production dropped 7.5 per cent to 169.6 million tonne (MT) in the first quarter of current fiscal year. The drop came despite robust demand from the power sector, which has seen unprecedented consumption levels this summer. Coal India Ltd (CIL) which accounts for over 80 per cent of the country's coal output, produced 183.3 MT in the April-June period of the previous fiscal year.
Indian government bonds gained in early trade on Thursday, shrugging off a jump in U.S. Treasury yields, supported by easing oil prices and growing foreign appetite in anticipation of their potential inclusion in a Bloomberg bond index. The benchmark 6.94% 2036 bond yield traded at 6.7207% by 11:15 a.m. IST, down from its 6.7563% close on Wednesday. Bond yields move inversely to prices.
In the largest foreign private investment in Indian ports segment, Swiss transport and logistics conglomerate Mediterranean Shipping Company (MSC) will acquire a 49% stake in Adani Vizhinjam Port (AVPPL), the concessionaire for Vizhinjam port in Kerala, Adani Ports & Special Economic Zone (APSEZ) said on Tuesday. The acquisition will be through MSC’s arm Terminal Investment (TiL), which as per the deal will invest $1.39 billion (over `13,000 crore) in AVPPL for a 49% stake . The total valuation of AVPPL is estimated at $2.85 billion for the deal .
Germany’s Everllence SE is in talks with Indian companies to manufacture two-stroke engines locally for big commercial ships under a licensing agreement and is also weighing plans to make its high-speed, four-stroke engine, the 175D, in the country on its own. Everllence is the world’s biggest manufacturer of engines for ships. “We have plans for two-stroke engines in India,” Gaby Hanna, managing director, senior vice president, head of region – Middle East & Africa , said in an interview.
Adani Green Energy Ltd on Wednesday said it has surpassed 20 gigawatts (GW) of operational renewable energy capacity, becoming the first clean energy player in India to achieve the milestone through greenfield development. The company generates over 52 billion units of clean electricity annually.
Even before the proposed acquisition of Italy’s Iveco Group receives the final regulatory clearances, Tata Motors has begun outlining an ambitious roadmap of crossing one million commercial vehicle sales annually and joining the ranks of the world’s four largest truck and bus manufacturers. Addressing shareholders at Tata Motors‘ second annual general meeting since its commercial vehicle business was demerged and separately listed, chairman N Chandrasekaran said the acquisition would transform the scale and global reach of the company.
State-run Bharat Petroleum Corporation on Monday said it will acquire a 40 per cent equity stake in Tiki Tar and Shell India for Rs 85 crore in cash, as it seeks to expand its presence in India's fast-growing value-added bitumen market. The acquisition, which has received approval from the Department of Investment and Public Asset Management (DIPAM), is expected to be completed within 90 days, Bharat Petroleum Corporation Ltd (BPCL) said in a regulatory filing. The transaction is not a related-party deal.
Hindustan Copper will apply for Navratna status according to outgoing chairman and managing director Sanjiv Kumar Singh. Speaking to ET, Singh said the Schedule ‘A’ Mini-Ratna, Category-I Central Public Sector Enterprise (CPSE) is on track to triple its ore output to 12 million tonnes per annum by 2029. "We have initiated work towards attaining Navratna status," he said, adding a transaction advisor for the same will be hired after which applications will be moved with concerned government authorities.
Vedanta group firm Hindustan Zinc Chairperson Priya Agarwal Hebbar on Monday said technology will be crucial to the company's next phase of growth, with increased investments in automation, artificial intelligence, advanced analytics, and intelligent mining systems to improve productivity, precision, and safety. "Our ambition is to become a future-ready energy transition company, building strength across multiple metals and critical minerals that support India's industrial growth and strengthen global supply chains," she said while addressing shareholders at the company's 60th Annual General Meeting (AGM).
Oberoi Realty expects the NCR market to rival Mumbai in scale as it invests Rs 6,000 crore in its first project in the region and scouts for land in Noida and Gurugram. The company is also evaluating opportunities in southern India, chairman and managing director Vikas Oberoi told ET. “Gurugram fits into everything that we want. It's a market that appreciates quality. It's a market that has both width and depth. And the price points are something that we really like. So, given all this, for us, this is a natural extension,” Oberoi said.
Waaree Energies’ wholly owned subsidiary, Waaree Solar Americas Inc, has secured an international order to supply 236.22 MW of solar modules. Waaree Energies in its regulatory filing said that the order is from a renowned customer that develops and manages sustainable infrastructure projects, with a focus on renewable energy. Although the company has not revealed the name of the customer or any financial details of the order.
A decade after launching in India, Amazon Prime has evolved from a delivery subscription into a multi-tier membership programme spanning entertainment, rapid commerce and co-branded financial products. Membership is on track to double from 2023 levels by the end of this year, according to a senior company executive. The growth has been driven in part by a tiered pricing structure introduced in 2024—an India-first move that departed from Amazon’s traditional global single-price model. The company now offers multiple plans, including Prime Shopping Edition, Prime Lite and Core Prime, catering to different consumer segments.
Tata Communications on Tuesday announced strategic invetsments in subsea cable infrastructure between India and Singapore through acquisition of significant fiber capacity, to strengthen its connectivity solutions between the emerging AI hubs of the two countries. The company is enhancing its Tata Global Network (TGN) capabilities by integrating a new subsea cable system between Mumbai & Singapore and investing as a consortium member in a new subsea cable system, connecting Chennai to Singapore which is expected to be ready for service by Q4 2029. However, Tata Communications did not reveal the exact sum of investment into the project.
Indian Hotel Company (IHCL), the hospitality arm of Tata Group and the Taj hotels parent, will invest up to Rs 7,500 crore in capital expenditure over the next five years, chairman N Chandrasekaran told shareholders at the company's 125th annual general meeting on June 30. We are still in the final stages of finalising design for the upcoming Taj Bandstand put expenditure on the property, which will have over 500 rooms, will be around Rs 2,000 crore. Over the next five years, the company will spend between Rs 5,000-7,500 crore in capex," Chandrasekaran said.
Eternal Ltd. and Swiggy Ltd. got the 10-minute delivery party going in India. Now, e-commerce titans Amazon.com Inc. and Walmart Inc.'s Flipkart are looking to crash it. Eternal, whose Blinkit does doorstep delivery of everything from eggs to electronics within minutes, has slipped 28% from its October all-time high as of Thursday's close, while rival Instamart's owner Swiggy has plunged about 47% from its recent peak in September. That adds up to a selloff of more than $15 billion for the duo as investors get spooked by the onslaught of competition.
Real estate developer Omaxe Limited on Monday revealed a dedicated hospitality business vertical with plans to develop 19 hotels across 4-5 years. The company plans to invest around Rs 6,200 crore to develop hospitality assets across high-growth urban centres, pilgrimage destinations, and transit corridors. Under the new vertical, Omaxe plans to develop 12 hotels in Uttar Pradesh, including two in Ayodhya, three in Lucknow, one each in Prayagraj, Ghaziabad and Gorakhpur, two in Kaushambi and two in Vrindavan. Alongside this, one hotel each in New Delhi, Faridabad and Ujjain, along with four hotels across Chandigarh, Amritsar and Ludhiana, including two properties in Chandigarh will be developed.
Union Minister of Commerce and Industry Piyush Goyal on Friday held a meeting with a Rolls-Royce delegation led by Chief Transformation Officer Nicola Grady-Smith, to discuss strengthening industrial and technological ties. In an X post, Goyal noted that the meeting highlighted the potential of the India-UK Comprehensive Economic and Trade Agreement (CETA). He emphasised that the agreement serves as a key opportunity to deepen bilateral investments, accelerate technological partnerships, and build resilient supply chains to provide mutual benefits to both nations.
ITC's packaged food business crossed the $2-billion revenue mark in FY26, with gross sales reaching Rs 20,504 crore, according to the company's 2025-26 annual report. As the food business grew 12% year-on-year, the conglomerate's non-cigarette fast-moving consumer goods (FMCG) portfolio achieved consumer spending of Rs 37,000 crore, including trade margins and GST. The FMCG business improved its performance last year, aided by the reduction in goods and services tax and a higher share of premium, high-margin product launches. In FY25, the packaged food business had grown 6% year-on-year, while consumer spending on its FMCG brands increased 4.6%. In FY26, consumer spending rose 9% year-on-year. The food business remains the largest contributor to ITC's FMCG sales.
ITC Ltd has outlined an aggressive medium-term growth strategy centred on expanding its FMCG business, scaling digital agriculture, growing its fresh food and sustainable packaging businesses, while targeting net zero operations by 2050, according to its FY26 annual report. The diversified conglomerate said it continues to aspire to become India's No. 1 FMCG company by strengthening its core brands, expanding into value-added adjacencies and developing new portfolios focused on health, nutrition, convenience and premium products.
Zerodha, one of India's largest brokering houses, has filed an application with the Securities and Exchange Board of India (SEBI) for a merchant banking license, which would mark the firm's foray into investment banking. Zerodha Corporate Advisors applied for its licence on 27 April and it remains under process, according to SEBI's latest update as of 31 May. If approved, the licence would enable Zerodha to expand beyond its core broking business into merchant banking services such as managing IPOs, FPOs, rights issues along with other capital market transactions.
Consumer spending on ITC's FMCG products has increased 8.8 per cent to nearly Rs 37,000 crore in FY26, reaching 28 crore homes, according to the company's latest annual report. Consumer spending on ITC's FMCG products has maintained a strong growth trajectory over the past three years, rising from nearly Rs 29,000 crore in FY23 to Rs 32,500 crore in FY24, reflecting a 12 per cent year-on-year increase. In FY25, consumer spending further climbed 4.6 per cent to around Rs 34,000 crore.
Byju's global lenders are in talks to take a roughly 30% stake in one of its partly-owned education firms and drop all legal action against the Indian company's founder Byju Raveendran, two sources with direct knowledge said. Byju's operated in more than 21 countries at one point and became popular during the COVID-19 pandemic by offering online courses. But its fortunes changed in early 2023 when the high-profile dispute with its U.S.-based lenders began.
Tata Sons, the principal holding company of the Tata Group, has posted strong growth across existing and emerging businesses for FY26 despite a challenging global business environment marked by geopolitical uncertainty, said an executive close to the matter. On a standalone basis, Tata Sons reported income from operations of nearly ₹42,000 crore, while net profit was estimated at around ₹32,000 crore.
Larsen & Toubro (L&T) announced key expansion in the data centre segment. The company in its regulatory filing said that its wholly owned subsidiary, Vyoma.AI, has incorporated a new wholly owned subsidiary, LTA Data Centres (LTADCPL), to expand its presence in the data centre sector. LTA Data Centres has been set up to establish data centres and provide related technology-enabled services, according to the regulatory filing.
Tata Power on Thursday unveiled a Rs 15,000-crore transmission infrastructure expansion plan for the Mumbai Metropolitan Region (MMR), centred on the development of a citywide 400 kV transmission ring network and significant upgrades to its existing power transmission assets. The project is aimed at strengthening Mumbai’s energy security and supporting the region’s rapidly growing power demand through FY31, the company said.
Adani Airport Holdings (AAHL) will invest more than Rs 20,000 crore in the first phase of developing airport cities across six airports as it looks to turn its aviation assets into integrated commercial and urban hubs, diversifying revenues beyond the core airport business. The development programme, spread over 655 acres in Mumbai, Navi Mumbai, Ahmedabad, Lucknow, Jaipur and Guwahati, will be executed through its wholly-owned subsidiary Adani Airport City (AACL). The first phase will see the development of around 22 million sq ft of commercial real estate comprising hotels, office spaces, retail, entertainment, convention centres and other lifestyle infrastructure. Nearly 70% of the investment will be directed towards Mumbai and Navi Mumbai, where the group has around 440 acres of land, underscoring the strategic importance of the Mumbai Metropolitan Region in its airport-led development plans.
Bharti Airtel maintained its lead in subscriber additions in May 2026, adding 2.93 million wireless users, while market leader Reliance Jio trailed slightly at 2.16 million, according to data released by the Telecom Regulatory Authority of India (TRAI). Vodafone Idea continued to report addition in subscribers, picking up pace at 121,289 additions (April: 53,257) to its overall subscriber base. However, much of this acceleration in subscriber addition continues to come from the telco’s performance in the M2M or enterprise connections segment, a significantly lower average revenue per user (Arpu) business.
Amazon on Thursday announced an additional investment of $13 billion in India by 2030 to expand its artificial intelligence and cloud infrastructure. The new commitment increases the company’s total planned investment in India to $48 billion over the next five years. The announcement came after Amazon chief executive officer Andy Jassy met Prime Minister Narendra Modi in Delhi. Following the meeting, Jassy said Amazon remained committed to expanding its presence in India and supporting the country’s technology ecosystem.
As artificial intelligence drives an unprecedented build-out of data centres globally, Schneider Electric expects India to emerge as one of the fastest-growing markets for digital infrastructure. Sumati Sahgal, vice-president, data centres & secure power, Greater India, tells Poulomi Chatterjee that data centres could become Schneider Electric’s largest business in India by 2030. Excerpts: Q. How does the growth of Schneider Electric’s data centre business compare with its core operations? A. The pace of growth in data centres is extraordinary. Until last year, India had built roughly 1.5 GW of data centre capacity. Industry estimates now suggest the country could add anywhere between 6 GW and 10 GW over the coming years. Some projections are even higher, but even the conservative estimates point to a massive expansion. Our core business is electrification and naturally grows alongside this trend because data centres are significant consumers of electrical infrastructure.
Suzlon Energy has secured a 400 MW wind energy EPC contract from Tata Power Renewable Energy Limited (TPREL), taking the two companies' cumulative order partnership past 1 GW across four states — Karnataka, Maharashtra, Tamil Nadu, and Andhra Pradesh, the company said in a press release. The new contract, awarded in less than 12 months of the previous order, will be executed in the Anantapur district of Andhra Pradesh. Under it, Suzlon will supply 127 units of its S144 wind turbine generators (WTGs), each with a rated capacity of 3.15 MW.
Infosys sees a $300-400 billion opportunity emerging in AI-first services by the end of the decade as enterprises race to modernise decades-old technology systems to deploy artificial intelligence at scale, Chairman Nandan Nilekani said on Tuesday. Speaking at the company’s 45th annual general meeting, Nilekani said that the next phase of AI adoption would require companies to overhaul legacy technology infrastructure, eliminate technical debt and integrate AI systems with core transaction platforms, creating a significant growth opportunity for technology services firms.
Wipro has on Tuesday announced the expansion of its partnership with Palo Alto Networks to offer AI-driven Managed Detection and Response (MDR) services. The partnership will combine Palo Alto Networks’ Cortex XSIAM with Wipro’s CyberShield offering along with the IT major’s managed security services capabilities in a more focused manner for modern security operations. The offering will deliver proactive cyber defense with simplified workflows using artificial intelligence, machine learning and automation to predict and protect clients against future ransomware attacks.
Akasa Air plans to increase capacity by more than 30% in the fiscal year ending March 2027 (FY27) and significantly expand its international operations, with overseas routes expected to account for around 40% of its total capacity over the next few years, according to the airline’s Chief Financial Officer (CFO) Ankur Goel. International operations currently contribute about 25% of the airline’s overall capacity. The carrier, which commenced operations in August 2022, has been steadily expanding its presence across domestic and international markets and sees overseas growth as a key pillar of its long-term strategy.
For a businessman who built one of India's largest infrastructure empires, Gautam Adani's vision for the company as described at the Adani Group's 30th Annual General Meeting on Wednesday was something new. The next chapter, he suggested, will not be defined only by bigger ports, larger airports or more renewable energy projects, it will be about changing how the conglomerate works from within.
Tata Motors Passenger Vehicles on Tuesday said that it expects revenue to exceed Rs 6 lakh crore by fiscal year 2031, with an earnings before interest and tax (EBIT) margin of 10%. Under its growth outlook, the company is targeting sales of more than 1.2 million units, driven largely by electric vehicles (EVs) and compressed natural gas (CNG) models. The automaker targets an annual production capacity of 1.3 million within the next 2-3 years from the current capacity of nine lakh units.
The Adani Group is planning to make an investment of Rs 90,000 crore to Rs 1 lakh crore across all airports over the next five years, Jeet Adani, Director at Adani Airport Holdings told reporters after the announcement to start commercial flight operations from Mundra airport with Star Air connecting key domestic destinations. Speaking to the media after inaugurating the new terminal and the first commercial flights, Jeet Adani said the five-year investment plan "continues to be the case" for the group's aviation portfolio. "Investment, our five-year investment plan across all airports is about 90,000, 1 lakh crore investment plan and that continues to be the case," he said.
The listing of the Vedanta group’s four newly demerged entities offers investors a key option: they may assess and value those businesses separately and selectively. As a result, there should be value-unlocking. Vedanta says the move will simplify its corporate structure and create sector-focused companies with independent plans.
Hindustan Zinc has signed an MoU with Advantek Associates and Aero Eagle Automobiles to explore green hydrogen and other clean energy solutions across its mining operations, the company said in a regulatory filing to stock exchanges. The world’s largest integrated zinc producer and one of the top ten silver producers globally said the partnership will look at hydrogen-based technologies for use in underground mining, heavy earth-moving machinery, surface vehicles and generators. If the underground mining application moves ahead, the company said it would be the only player attempting to deploy hydrogen fuel technology in that setting.
Key defence manufacturer Bharat Electronics (BEL) has secured additional orders worth Rs 1,081 crore since its last disclosure on May 25, 2026, the company informed stock exchanges. In a regulatory filing, the Navratna defence public sector undertaking said the new orders cover communication equipment, radars, CBRN (chemical, biological, radiological and nuclear) protection systems, seekers, avionics, upgrades, spares and services.
Bharti Airtel has raised its stake in Airtel Africa by 16.31 per cent to about 79 per cent through a share-swap agreement, which is estimated to be around Rs 28,200 crore, according to a company filing on Tuesday. Before the transaction, Bharti Airtel held 62.73 per cent in Airtel Africa. "The company completed the acquisition of 595,204,251 shares (around 16.3 per cent stake) of Airtel Africa, from ICIL on June 22, 2026. Consequently, the company's effective stake in Airtel Africa has increased to around 79 per cent," Bharti Airtel said in the filing.
Tata Motors' commercial vehicle business has outlined an ambitious roadmap for the next two years, targeting double-digit EBITDA margins, free cash flow of 7-9% of revenue and annual investment spending of 2-4% of revenue by FY2028 as it pursues global expansion, electrification and higher-margin digital businesses. At its Investor Day 2026, the company said it had already achieved several of its FY2027 targets ahead of schedule, including margin improvement, cash generation and strengthening its leadership position in heavy commercial vehicles. The company said it will now focus on three strategic pillars: strengthening its domestic business, scaling new growth engines and pursuing a global pivot.
Vedanta Aluminium Metal Ltd (VAML), which recently got listed on the BSE and NSE, on Monday said it plans to double its production capacity to 60 lakh tonnes per annum (LTPA) to meet rising demand from infra, automotive and electrification sectors. VAML officially commenced trading as an independent listed entity on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) from June 15, following the successful completion of Vedanta Group's demerger, which became effective on May 1. The listing marks a major milestone in the company's evolution, creating a focused, pure-play aluminium business with enhanced strategic flexibility and stronger long-term growth visibility, the company said in a statement.
Tata Motors on Sunday said it has secured orders for more than 3,400 electric commercial vehicles (eCVs) across multiple segments, signalling a sharp acceleration in the adoption of zero-emission mobility solutions by businesses and public transport operators in India. The country's largest commercial vehicle maker said the orders span a broad spectrum of applications, ranging from e-commerce and logistics to heavy industries such as cement, steel and mining, reflecting growing confidence among fleet operators in the viability of electric mobility beyond pilot projects
Ambuja Cements, the Adani Group-owned cement maker, has partnered with UK-based clean technology company Leilac Limited to develop a commercial-scale low-carbon cement production pathway at its Sanghipuram plant in Gujarat's Kutch district, marking a significant step in the company's decarbonisation plans. The companies said they will jointly undertake a commercial demonstration project at Ambuja's 6.6 million tonnes per annum (MTPA) Sanghi cement plant to evaluate Leilac's carbon capture and hybrid electric heating technology. The technology is designed to reduce emissions, lower fuel consumption and increase the use of renewable electricity in cement manufacturing.
The media and entertainment business of Reliance Industries posted a revenue of Rs 34,917 crore in FY26, with JioHotstar emerging as the country's largest digital streaming platform, and becoming the first Indian paid OTT service to cross one billion downloads, said Akash Ambani on Friday. Addressing shareholders of Reliance Industries Ltd (RIL), Ambani said the group's media ecosystem comprising JioStar, Jio Studios and Network18 delivered an EBITDA of Rs 5,842 crore and a net profit of Rs 3,434 crore during the fiscal year.
Reliance Jio is evaluating the development of a sovereign low Earth orbit (LEO) satellite constellation for India as it looks to expand connectivity to remote parts of the country, Reliance Jio Chairman Akash Ambani said at Reliance Industries' 49th annual general meeting on Friday. "Jio is evaluating the development of a sovereign low Earth orbit satellite constellation for India," Ambani said, outlining the company's plans to extend broadband access beyond the reach of terrestrial telecom networks. The announcement comes a day after ET reported that Reliance Jio was planning a constellation of around 1,600-1,650 LEO satellites to offer broadband and direct-to-device services, potentially becoming the first Indian company to build a large-scale satellite network in the segment.
Reliance Consumer Products (RCPL) has set an ambitious target of achieving Rs 1 lakh crore in revenue by FY30, positioning itself among the fastest-growing FMCG companies in the country, Isha Ambani, executive director at Reliance Retail Ventures and non-executive director at Reliance Industries (RIL), said at the company’s 49th annual general meeting (AGM) on Friday. The target comes as RCPL more than doubled its business over the last year, reporting gross revenue of Rs 22,000 crore in FY26.
Reliance Industries Ltd (RIL) is accelerating its transformation into a global manufacturing and export powerhouse, with plans to scale its consumer goods, retail, electronics and renewable energy businesses into large international platforms. Speaking at the company’s 49th Annual General Meeting (AGM) on Friday, Chairman Mukesh Ambani outlined an ambitious strategy to enable $125-150 billion in exports by 2032, building on Reliance’s position as India’s largest merchandise exporter. For perspective, Reliance recorded exports of Rs 2.79 lakh crore ($29.4 billion) in FY26, accounting for 6.7% of India’s total merchandise exports.
Reliance Industries’ leadership made several major announcements at the company’s 49th Annual General Meeting on Friday. Jio Platforms filing a draft red herring prospectus (DRHP) for its initial public offering (IPO) was the biggest announcement of the day. Other important announcements made by Reliance Industries’ top executives include the launch of a new manufacturing division for Reliance Retail, doubling down on artificial intelligence and planning for satellite internet services.
Corporate India is expected to witness moderation in its revenue growth to mid-to-high single digit in Q1FY27 against a 13.2% YoY growth in Q4FY26) and a contraction in its operating profit margin by 100-150 bps on a YoY basis., rating firm ICRA said on Thursday. As a result of the earnings pressure, credit metrics are expected to soften, with an estimated interest coverage ratio of 4.8-5.0 times in Q1 FY27, against 5.8 times recorded in Q4 FY26, despite stable cost of funds and leverage, it said The ongoing geopolitical tension in West Asia is likely to act as a key overhang, given its significant implications on global trade flows, logistics costs and demand sentiments in key export markets. Further, the conflict results in a second-order impact on travel and tourism-linked businesses like aviation and hotels targeting foreign tourists, LPG-dependent industries like ceramic tiles, quick service restaurants, among others.
Nykaa, which is operated by FSN E-Commerce, announced that it is targeting a growth of more than $5 billion by FY30. The growth is expected to scale up its beauty and retail business, enabling sustained margin expansions and a Return of Capital employed of over 40%. Nykaa, in its filing, said that by financial year 2030 the company aims to nearly double or triple its revenue growth, which would translate into 4-5X EBITDA growth (low to mid-teens) EBITDA margins. The company also outlined its AI roadmap. Following the announcement, the company’s stock hit a fresh 52-week high of Rs 303.75 on stock exchanges in Thursday’s trade.
Reliance Industries Chairman and Managing Director Mukesh Dhirubhai Ambani used the company's AGM 2026 to make a strong case for greater self-reliance in energy and technology, outline Reliance's artificial intelligence ambitions, confirm a key milestone in Jio's journey towards a public listing and congratulate Prime Minister Narendra Modi on becoming India's longest-serving elected prime minister. Ambani described PM Modi's tenure as a "stupendous feat" and also congratulated him on completing 25 uninterrupted years in public office on October 7, 2026. Calling for a renewed push towards Atmanirbharta amid rising global uncertainty, Ambani said the most important lesson for India from recent geopolitical conflicts is the need to accelerate efforts towards self-reliance. He urged the country to pursue energy and Al self-sufficiency as national missions, while positioning Reliance Intelligence as the group's next growth engine.
Reliance Industries Limited spent Rs 1,44,271 crore ($15.2 billion) on capex in FY26. RIL's consolidated revenues stood at Rs 11,75,919 crore ($124.0 billion), up 9.8% year-on-year, for this period. Announcing the numbers at the company's 49th Annual General Meeting, RIL Chairman and MD Mukesh Ambani told shareholders that "Reliance posted a record high revenue, a record high EBITDA and a record high net profit in FY 26 despite global challenges." RIL's EBITDA rose to Rs 2,07,911 crore ($21.9 billion) in FY26, meeting a company commitment to double EBITDA every five years. In FY21, RIL had recorded EBITDA of Rs 97,580 crores. The company's net profit for FY26 stood at Rs 95,754 crore ($10.1 billion), up 17.8% over last year.
Telecommunications company HFCL has bagged an order worth Rs 2,666 crore from PSU– Rail Vikas Nigam. The contract which pertains to the supply of telecom equipment expands its partnership with RVNL. Earlier, the PSU had awarded contracts worth Rs 2,167 crore to the company for BharatNet Phase-III projects in Uttar Pradesh. HFCL-RVNL: Order details Under the scope of work, HFCL will supply telecom equipment and related accessories to RVNL. This also includes the installation and commissioning of these accessories. Additionally, the tech firm will create an optical fiber cable telecom network for RVNL.
Solar equipment company Waaree Renewable Technologies has bagged a commercial order worth Rs 1,044 crore for the enhancement of a project under its existing EPC contract which entails the works of a solar power plant. Waaree Renewable Technologies: Project details The Waaree Group subsidiary has been awarded this project from ‘one of India’s leading Renewable Energy companies’, the company said in its exchange filing. It added that the scope of commercial order aggregates to Rs 1,044.69 crore, inclusive of taxes. This has been enhanced by Rs 30.91 crore. Under the scope of project Waaree Renewables will carry out the execution of engineering, procurement and construction (EPC) work pertaining to the solar power plant, which has a capacity of 080 MWp/700 MWac. The timeline of order execution is yet to be mutually agreed upon by both the companies, Waaree Renewables noted. “The aggregate order size remains same as per the 1st disclosure submitted on February 20, 2024 i.e. 980 MWp / 700 MWac,” it added in its filing.
State Bank of India (SBI) is positioned to secure one of the most lucrative windfalls in recent years, as the National Stock Exchange (NSE)’s much-awaited mega Rs 30,000 crore IPO will monetise decades of patient capital with an astronomical 256,775% profit for the country’s largest lender. The proposed Rs 30,000 crore issue, which is structured entirely as an offer for sale (OFS) of up to 148.9 million shares representing nearly 6% of NSE's paid-up capital, is poised to become the largest-ever IPO in India. It eclipses the Rs 27,000 crore record held by Hyundai Motor India's 2024 listing, though Reliance Industries Ltd.'s Jio is also planning an IPO that could be larger but has yet to file papers. Because regulations prohibit a stock exchange from self-listing, the NSE will be listed on rival BSE.
Tata Motors Passenger Vehicles is targeting an 18-20% market share and a double-digit Ebitda margin by FY30, while planning to invest Rs 33,000-35,000 crore across its passenger vehicle and electric vehicle operations over the next five years, according to the company’s FY26 annual report. The investment will support new product development, capacity expansion, electrification and the broader EV ecosystem as the automaker looks to strengthen its position in the country’s fast-growing SUV and electric vehicle segments. SUVs, CNG, EVs to drive growth The company, which emerged as the second-largest car manufacturer in the second half of FY26 based on Vahan registrations, expects industry growth to continue to be driven by SUVs, compressed natural gas (CNG) vehicles and EVs. Chairman N Chandrasekaran said the company was entering FY27 with a robust pipeline of launches and a multi-powertrain strategy spanning petrol, diesel, CNG and electric vehicles.
Adani Ports & Special Economic Zone (APSEZ) on Tuesday said it has expanded its partnership with the US-based Kaleris to drive next-generation capabilities across its ports and logistics network. The partnership is part of its broader 2030 objectives involving an outlay of $850 million towards decarbonisation, technology upgrades and an ambitious one billion tonne of cargo handling capability per annum, APSEZ said. The multi-year agreement will see Kaleris deploy its foundational terminal operating system and AI-augmented advanced container handling and optimisation solutions across 15 APSEZ container terminals spanning nine domestic and international ports, it said.
Inox Wind Ltd has signed a memorandum of understanding (MoU) to supply 1,500 MW of wind turbines to Inox Clean Energy, in a deal valued at around ₹8,000 crore, significantly boosting the company’s order pipeline and strengthening visibility for future growth. The agreement will take Inox Wind’s order book from 3.1 GW to over 4.5 GW, providing multi-year execution visibility for one of India’s largest wind turbine manufacturers. “The deal value is around ₹8,000 crore,” a senior company official said, requesting anonymity. Under the MoU, Inox Wind will supply its advanced 3.3 MW and 4X MW wind turbines for renewable energy projects being developed by Inox Clean Energy across India.
Jaguar Land Rover (JLR) is pinning its FY27 growth ambitions on a new product cycle led by the much-awaited Range Rover Electric and the first model from its reimagined Jaguar line-up. In Its FY26 annual report, Chief Executive Officer P B Balaji outlined a strategy centred on product innovation, electrification and stronger brand positioning, while continuing to build around the company’s four core vehicle brands, Range Rover, Defender, Discovery and Jaguar. “2026 is set to be an exciting year for JLR as we develop our next-generation vehicles, including the launch of the Range Rover Electric and the unveiling of the first new Jaguar,” Balaji said.
An Indian pollution regulator has alleged wastewater discharged from a Tata components factory for Apple's iPhone has contaminated the groundwater for nearby farms and warned of a forced shutdown unless Tata gives a satisfactory explanation. India's Tata Electronics is central to Apple's push to diversify iPhone production beyond China and is the second-biggest supplier to Apple in South Asia after Taiwan's Foxconn. The Tata plant under investigation is in Hosur in southern Tamil Nadu state and makes back panels and other components for iPhones. Farmland owners near the plant had complained for months to the Tamil Nadu Pollution Control Board that wastewater from the factory was contaminating their land and open wells.
Avaada Group is on track to add 10.5 GW of renewable energy capacity over the next two years, taking its total installed generation capability to 17.7 GW, a top company official said on Tuesday. Talking to PTI on the sidelines of the Avaada Bharat Uday Yatra event, Avaada Energy CEO Kishor Nair stated that the group currently has a renewable energy portfolio surpassing 17.7 GWp, including over 7.2 GWp of operational capacity and approximately 10.5 GWp under construction. He said the company is on track to achieve 17.7 GW of renewable energy capacity in the next two years, as power purchase agreements (PPAs) have already been signed for under-construction projects.
ICICI Prudential Mutual Fund and SBI Mutual Fund led the cash deployment, reducing their cash holdings by Rs 4,679 crore and Rs 3,407 crore, respectively. Quant Mutual Fund, Nippon India Mutual Fund and Axis Mutual Fund also deployed significant amounts, with cash reductions of Rs 1,609 crore, Rs 1,436 crore and Rs 1,036 crore, respectively. The trend, however, was not uniform across the industry. While 24 fund houses deployed cash during the month, an equal number of asset management companies (AMCs) increased their cash levels. However, the rise in cash holdings was significantly lower than the deployment.
Vedanta chairman Anil Agarwal on Monday said each of the group’s five demerged businesses has the potential to become a $100 billion company, as he outlined ambitious growth plans across steel, nuclear power, oil and gas, aluminium and critical minerals following the conglomerate’s restructuring into sector-focused entities. “Every (demerged) company has the potential to become a $100 billion company,” Agarwal said while addressing the media at the listing ceremony of the newly created entities. The four companies — Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel — were listed on the National Stock Exchange and Bombay Stock Exchange on June 15. Agarwal also outlined a major expansion push into nuclear power, saying the group has signed an agreement in the sector and is targeting an initial capacity of 20,000 MW, with a long-term ambition of reaching 50,000 MW.
B2B manufacturing platform Zetwerk posted an estimated 24% revenue growth to Rs 15,900 crore in FY26, up from Rs 12,800 crore a year earlier, according to a CRISIL rating note dated June 3. The recovery was driven by the company’s exit from unprofitable businesses and a scaled-down civil infrastructure vertical, the agency noted. The Bengaluru-based firm, which spans energy, precision manufacturing, capital goods, and trading, carries an order book exceeding Rs 12,000 crore, executable over the next 12–18 months, it added. CRISIL pegged Zetwerk’s adjusted net worth at Rs 4,500–4,900 crore as of March 31, 2026, with debt at Rs 2,700–2,800 crore. The rating agency did not disclose profit after tax but noted the net worth estimate factored in expected losses for the year. Zetwerk had reported a net loss of Rs 371 crore in FY25, narrowing from Rs 918 crore in FY24.
Adani Enterprises and US based Jabil on Monday said they will form an alliance to set up an AI and data center infrastructure manufacturing platform in the country. The platform plans to deploy multi-GW of high-density AI Rack manufacturing capacity in the country . “This will serve the critical infrastructure needs of global hyperscalers, co-location facilities, and enterprise data centers through the advanced manufacturing and integration of next-generation liquid-cooled AI racks, servers, storage, and networking systems utilizing state-of-the-art SMT (Surface Mount Technology) and complex box-build processes,” a release the duo said.
Suzlon, a renewable energy company, has launched India’s tallest and most powerful wind turbine, the 5 MW S175, with the commissioning of a wind project in Vijayanagar, Karnataka. Until now, the Indian market has primarily featured turbines in the 1-2 MW range, but it is beginning to shift toward more powerful options. Girish Tanti, Executive Vice Chairman of Suzlon Group, stated, “The S175 is engineered specifically for Indian wind conditions, grid realities, and operating environments. Its greatest breakthrough lies not only in significantly increasing energy generation but also in its ability to make previously unviable wind sites viable, thus expanding the potential market for wind energy.” He further explained that India could grow from a 350 GW market to a 1.1 Terawatt (TW) capacity, marking a threefold increase in the addressable market. Advanced technologies and innovations have made sites that were previously unviable now operational.
Corporate profits are becoming an increasingly crucial driver of India’s economy. Yet it isn’t a chest-thumping accomplishment in policymaking. If anything, it’s the opposite because those surpluses aren’t being plowed back into new physical assets. The aggregate net income of listed Indian firms is approaching a record 6% of gross domestic product. Even so, their capital expenditure has remained flat, hovering at 3.6% to 3.7% of gross domestic product.
Global asset managers have been adding Chinese government bonds to their portfolios since the Iran war broke out, drawn not by yield but by their near-zero correlation with Western markets. Amid a global rout in sovereign debt since March that has sent benchmark yields soaring between 35 and 60 basis points (bps) in the U.S., Britain, Europe and Japan, yields on equivalent CGBs have declined 8 bps. The striking outperformance has caught the attention of real money investors - from sovereign funds and central banks to insurers - prompting a re-assessment of portfolio construction even as it pushed Chinese yields to the lowest outside Switzerland. Chinese debt is attracting investors with a "preservation mandate," offering regional portfolios a low-volatility counterbalance to riskier, higher-yielding assets, said Wei Li, head of multi-asset investments at BNP Paribas Securities.
Six months after signalling a strategic reset and a sharper focus on profitability, Tata Starbucks is preparing to accelerate growth again. The 50:50 JV between Tata Consumer Products and Starbucks Corporation is now looking at a long-term opportunity of as many as 8,000 stores in India, a significant escalation from its earlier target of 1,000 outlets by 2028. The shift follows discussions between the two partners, according to an update provided by Tata Consumer chairman N Chandrasekaran at the firm’s 63rd annual general meeting last week. Chandrasekaran, also the chairman of Tata Sons, said that Starbucks was a “very high-potential business” that had significant growth prospects in India. ‘We have had discussions with our partner, and we think eventually the company can have 8,000 stores in India. We are continuing to add 50 to 100 stores a year,” he said.
In the 1970s, a 20-year-old boy stood in the middle of Bombay’s bustling wholesale markets. Around him, shopkeepers scooped coconut oil out of large metal tins and poured it into customers’ steel containers. There were no labels, no sealed packs and no recognisable brands, only a commodity changing hands in the same way it had for generations. Most people would have walked past the scene without a second thought. Harsh Mariwala did not. If consumers trusted packaged food, soap and medicines, why should something as widely used as coconut oil remain an unbranded product sold from bulk containers? That moment of curiosity would eventually lead Harsh Mariwala to build Marico India into one of the most successful consumer goods companies. Long before it became a Rs 13,611-crore business with operations across 25 countries and a market capitalisation exceeding Rs 1 lakh crore, it began with a visionary’s big bet with a blue bottle.
LIC CEO and MD R Doraiswamy has said that despite rising competition in the life insurance sector, the Corporation will stay focused on strengthening its leadership position while contributing to the national development as it heads toward its platinum jubilee. Insurance behemoth LIC alone commands close to 60 per cent market share in the life insurance segment and manages assets of over Rs 57 lakh crore. It has real estate properties valued at around Rs 60,000 crore. The story of Life Insurance Corporation of India (LIC), which completed its 70th year of existence, is inseparable from the story of India.
Adani Green Energy (AGEL) plans to commission a 14 gigawatt-hour battery energy storage system (BESS) at Khavda, Gujarat, by end of this fiscal year, seeking to reduce wastage of clean energy in a country that's still in the process of building the necessary storage infra. The country's largest renewable energy company has already commissioned a cumulative 3.37 GWh BESS at the site, and plans to scale this up to 50 GWh over the next five years. The site is also home to 30 GW of renewable energy capacity. "This is the world's largest at Khavda where we will have 30GW of renewable energy at a single location and 14 GWh of battery storage," said Rajat Seksaria, CEO, Battery Energy Storage and Green Hydrogen, Adani Group. The project gains urgency as India wasted 300 GWh of clean power in the first quarter of 2026 due to lack of storage infrastructure.
Amazon is stepping up its India bet with fresh investments across ecommerce, quick commerce, artificial intelligence and exports, with the company describing the current period as its most aggressive phase of expansion in the country so far. The renewed push comes after Amazon announced plans to invest $35 billion in India by 2030, adding to the $40 billion it has already invested in the country. "If you look at our investments, we are one of the largest investments in India...USD 35 billion over the next five years, USD 80 billion of exports enablement, continuing to invest in Amazon Now and speed with 100 cities and 1,000 micro fulfillment centres, so we are in the most aggressive phase of expansion in India yet, we are here to play a long-term and win in India," Amazon India country manager Samir Kumar told PTI. The comments come at a time when competition in India's online retail and quick commerce segments is intensifying, with companies racing to expand delivery networks and strengthen product offerings.
Vedanta Chairman Anil Agarwal said the group's aluminium business can double capacity to 6 million tonnes in about three to three-and-a-half years and has a longer-term vision to reach 10 million tonnes in around five years, as Vedanta completed the listing of its demerged businesses on Indian exchanges. ☐ In an exclusive interview with CNBC-TV18, Agarwal said Vedanta Aluminium is fully integrated and among the lowest-cost producers globally. "Price will go up, price will go down. I am lowest cost producer in the world. Fully ☐ integrated. I have started producing 3 million tonne, going to be 6 million tonne. And vision is to go for 10 million tonne," Agarwal told CNBC-TV18. Asked when the business could reach 6 million tonnes and 10 million tonnes, Agarwal said the first milestone could come in "three, three-and-a-half years" and the larger target in "five years". He said aluminium demand remained high, though prices would continue to move in cycles.
Tata Sons' board met on Friday to approve the company's financial results for the year ended March 31, 2026, recommending a dividend to equity shareholders, even as it kept chairman N Chandrasekaran's reappointment off the agenda for a second consecutive time. "The board stuck to the agenda and there was no discussion on controversial matters," said a person familiar with the proceedings.
Air India is looking to defer aircraft deliveries, cut flights and postpone expansion plans after majority owner Tata Group instructed the carrier to focus on reducing its record losses, according to people familiar with the matter. The change in strategy is an abrupt pivot from an ambitious growth plan. It reflects the loss of confidence in an airline that suffered a fatal crash a year ago and has since incurred an annual loss equivalent to about $3 billion (about Rs 28,500 crore).
Tata AIG General Insurance reported a net profit of Rs 1,008 crore for FY26 despite facing the largest claim in Indian aviation history last year. The company's books were protected due to its conservative policy of reinsuring the bulk of large risks. The General Insurance Corporation had estimated claims of over $400 million last year from the Air India Ahmedabad crash. Since then, reinsurers have settled some claims. Tata AIG, which was the lead insurer, had a 45% share of the risk. "We fully provided for it in that same quarter itself. Net of reinsurance, our exposure was less than Rs 50 crore," said Amit Ganorkar, MD & CEO, Tata AIG General.
To cut mounting losses in the backdrop of several headwinds, the Tata Group-run Air India is looking to defer aircraft deliveries, cut flights and postpone expansion plans. According to a Bloomberg report citing sources, Air India is in discussions with aircraft manufacturers - Airbus SE and Boeing Co - to slow down deliveries of as many as 500 planes previously ordered. This, as per the report, would enable Air India to push back the large payments due to plane makers upon delivery. The carrier is also reevaluating plans to fly to new domestic and international destinations, pruning some routes and postponing launches at some airports, such as the new Noida International Airport (NIA), the people familiar with the matter said.
Tata Power expects the rapid expansion of artificial intelligence (AI), data centres and rising need for cooling these to drive a sharp increase in electricity demand in India over the coming years. “Due to the rapid growth of data centres, advanced economies saw a resurgence in electricity demand growth for the first time in nearly a decade,” said Tata Group chairman N. Chandrasekaran in Tata Power’s FY26 Integrated Annual Report.
L&T Technology Services has entered a strategic partnership with Databricks to co-develop artificial intelligence solutions for asset-intensive industries, the company announced via a filing with the exchanges. What is the LTTS-Databricks partnership about? The collaboration sits within LTTS’ Sustainability segment, which covers Process Engineering, Discrete Manufacturing and Industrial Products. The immediate client targets are companies in energy, petrochemicals and industrials, the filing noted.
Tata Consultancy Services on Friday launched India's first Oracle AI Data Platform Lab and Centre of Excellence (CoE) here to help enterprises accelerate adoption of artificial intelligence and data-driven transformation. The facility at Delta Park Lords in Kolkata has been set up in collaboration with Oracle and will support customers in addressing challenges such as fragmented data systems, slow analytics cycles, limited AI scalability and operational inefficiencies, the IT major said. Driving AI-Powered Data Transformation TCS said the lab will leverage Oracle AI Data Platform, which combines Oracle Cloud Infrastructure, Oracle Autonomous AI Database and OCI Enterprise AI, to help organisations make enterprise data AI-ready and deploy AI-powered applications and automation at scale. The IT services major also plans to establish similar Oracle AI Data Platform Labs and Centres of Excellence in four more Indian cities over the next three years, a statement said.
The big news at this hour – TCS and Anthropic have launched Global Premier Partnership to drive Enterprise AI scaling. The IT sector major, Tata Consultancy Services (TCS), is partnering Anthropic, the artificial intelligence company behind Claude, to help enterprises scale AI adoption across industries. TCS in its regulatory filing said, “TCS will setup a dedicated Business Unit focused on delivering strong customer value propositions, joint industry solutions and deep AI expertise on the Claude family of models through early access to Claude models.”
US-based IT services firm Cognizant expects an AI-driven system that analyses employee and customer interactions to generate as much as $1 billion in incremental business pipeline by the end of this year, after already creating about $200 million in opportunities. Speaking at the company’s AI forum last week, CEO Ravi Kumar S said the initiative, built around what Cognizant calls “context engineering”, mines emails, meetings, chats, contracts and other enterprise data to uncover potential sales opportunities that would otherwise remain scattered across the organisation.
Electric vehicle company Omega Seiki Mobility (OSM) has partnered with Honda Power Pack Energy India, a subsidiary of Honda Motor Co., to develop swappable battery technology. Honda Power plans to establish 250 battery swapping stations in Bengaluru, 150 in Delhi, and 100 in Mumbai, aiming to create the largest battery swapping network in these cities. OSM’s cargo electric three-wheelers, the Rage+, will now use the Honda e:Swap battery ecosystem. Uday Narang, founder of OSM, said they were not just into the production of electric vehicles but also wanted to make electric mobility more practical, profitable, and convenient for those who rely on these vehicles for their livelihoods.
Meta Platforms has expanded its renewable energy partnership with Clean Max Enviro Energy Solutions Ltd beyond 900 MW, backing 837 MW of new solar and wind capacity across Rajasthan and Karnataka in one of the largest clean energy procurement deals by a global technology company in India. The announcement comes amid rapidly rising electricity demand from digital infrastructure and artificial intelligence applications, with technology firms emerging as major drivers of renewable energy investments globally.
Hindustan Zinc has signed a Memorandum of Understanding (MoU) with Sulfozyme Agro India under its flagship Zinc Industrial Park initiative at Khankhala in Rajasthan’s Bhilwara district. The partnership aims to strengthen India’s downstream zinc sector through sustainable metal recovery, resource efficiency, and innovation-led industrial development.
Mukesh Ambani-led Reliance Industries announced a partnership with Meta Platforms for an AI-enabled data centre in Jamnagar, Gujarat. This marks Meta’s first built-to-suit data centre project in India. Under the agreement, Reliance Industries will build the 168 MW data centre and is expected to be completed within two years. The project also includes an option to expand capacity in the future. Meta will lease capacity from the facility to support its global infrastructure, including its growing artificial intelligence (AI) computing requirements. Partnership puts India at forefront of global AI race: Mukesh Ambani Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said, “Building India’s first built-to-suit data centre for a global technology leader of Meta’s scale demonstrates India’s readiness to be at the forefront of the global AI revolution.”
Tata Consultancy Services (TCS), India’s largest IT services company, has indicated that it will no longer hire employees at the scale it once did as artificial intelligence increasingly takes over portions of work traditionally handled by humans. Speaking at the company’s 31st annual general meeting, TCS chairman N. Chandrasekaran said the rise of AI agents is fundamentally changing how the IT industry will operate in the coming years. “The company will not be hiring the kind of numbers that you used to hire,” Chandrasekaran said, signalling a structural shift in workforce planning at the IT giant.
Grasim Industries, the Aditya Birla Group flagship, has announced a second phase of investment in lyocell manufacturing at its Harihar facility in Karnataka, committing Rs 3,094 crore to add 110,000 tonnes per annum of new capacity. The announcement signals the company’s intent to become one of the largest producers of the sustainable fibre globally, and pushes its overall cellulosic staple fibre capacity past the one million tonne mark by the end of the decade. What is being built The Phase II expansion will come up as two production lines of 55,000 TPA each at Harihar. The first line is targeted for commissioning in 2028, with the second following in 2030. This is in addition to Phase I, a 55,000 TPA lyocell plant already under construction at the same site, which is expected to go on stream by mid-2027.
Vodafone Idea has secured a major legal victory. Bombay High Court quashed demand notices issued by the Department of Telecommunications (DoT) seeking one-time spectrum charges (OTSC) worth Rs 2,113 crore. Vodafone Idea in its regulatory filing said that the court has directed the DoT to return the bank guarantees submitted by the company against the disputed demand. The Bombay High Court on Monday quashed the Centre’s 2012 decision to impose a one-time spectrum charge for spectrum held above 6.2 MHz from 2008 onwards, questioning its source of power to make such a call.
Tata Consumer Products crossed the ₹20,000 crore revenue milestone in FY26, the company said at its 63rd Annual General Meeting, reporting consolidated revenue of ₹20,290 crore, a 15% increase over the previous year. Net profit rose 20% to ₹1,547 crore, supported by operating leverage, while EBITDA grew 12% to ₹2,815 crore, as reported by ET Now. The company said growth was broad-based across India operations, international businesses, and non-branded segments. Tata Consumer, which has evolved from a tea and coffee business into a diversified multi-category FMCG player, said its growth was driven by both organic and inorganic initiatives.
Jio BlackRock Asset Management plans to launch its first exchange-traded funds in India by August, seeking to replicate BlackRock's global success in passive investing in a market where ETFs are still nascent. The joint venture between Mukesh Ambani's Jio Financial Services and the world's largest asset manager has amassed about 180 billion rupees ($1.9 billion) in assets under management in roughly a year since its launch by building a base in cash, debt-index and active equity funds. It plans to start with equity-focused ETF strategies. BlackRock oversees about $5.1 trillion in ETF assets globally, more than a third of its total assets under management, underscoring the importance of the product line to its franchise. Jio BlackRock currently ranks as India's 29th-largest asset manager. "ETFs are a long-term play. While it is a predominantly institutional heavy market (in India), retail are starting to get more involved in ETFs. And we can see from global trends how well ETFs have been adopted as a choice for investing," Sid Swaminathan, managing director and chief executive officer of Jio BlackRock Asset Management, told Reuters.
Wanting to do something for the community is nothing new at Larsen & Toubro (L&T). Santosh Kumar Singh, its Chief Sustainability Officer, says the company’s first community health centre was set up in 1967. The number has grown to over ten today. “In the 1990s, the first Construction Skill Training Institute was established. Again, it was in the direction of improving the availability of skilled manpower and making more youth employable in the construction sector,” is how he describes it. It has been recognised as the Most Sustainable Company in Infrastructure in the category of Sectoral Excellence in Manufacturing in this year’s BT India’s Most Sustainable Companies. When there are multiple business verticals, the concept of sustainability evolves and matures over time. Steps taken at a certain point in time tend to produce a much larger impact later. Sustainability reporting started at L&T in 2008, but it was not till a decade later that it moved to integrated reporting. “That’s when financial performance started connecting with the impact on the environment and society,” says Singh. One important moment was in 2021 when the company set a target for both carbon neutrality and water neutrality. “In many cases, what we did was purely voluntary.”
Adani Ports and Special Economic Zone (APSEZ) has secured a 10-year marine services contract tied to Argentina’s first liquefied natural gas export project, the company said on Monday, extending its international marine operations to South America for the first time. The contract was awarded to The Adani Harbour International FZCO, a step-down subsidiary of APSEZ, in consortium with Argentina-based Meridian Group. It follows a global competitive tender by Southern Energy S.A. (SESA), the project developer.
Public sector company RailTel has bagged a Rs 41.3 crore work order from Uttar Pradesh Police Recruitment and Promotion Board. In an exchange filing, the company said that it has received the order to provide security-related ancillary services during the recruitment examination. This is the second major order the company has received in a month. Earlier, RailTel had received a Rs 31 crore work order from Newspace India for the supply, installation, commissioning, operation & maintenance of the upgradation of the IT Infrastructure.
Rajiv Bajaj will step down as a non-executive director of Bajaj Finserv after deciding not to seek re-election at the company's annual general meeting scheduled for July 31, 2026, according to a filing on the exchanges by the financial services company on Tuesday. Bajaj informed the company that increasing responsibilities at Bajaj Auto, including oversight of newly established businesses and the group's recent acquisition of KTM, have prompted him to reduce his external commitments.
Bengaluru-headquartered green energy major Emmvee Group, a pioneer in solar energy having launched the country’s first solar water heaters way back in 1992 under Solarizer label that became the largest solar water heater not only in India but also in Europe, now a leading manufacturer of solar modules and cells, is on a massive expansion spree investing `5,500 crore in a greenfield gigafactory at Devanahalli in Bengaluru. In an interview with TNIE’s Benn Kochuveedan, group founder chairman DV Manjunatha Donthi, tells the new plant, spread across 100 acres is 5x bigger than the present facility, will make it the largest integrated player. Edited Excerpts: How has the supply-chain disruptions following the Iran war hit you? How much of the raw materials are imported?
The three Airbus A320s, being inducted on a damp lease basis, are scheduled to join the airline’s fleet in July. The move comes as SpiceJet seeks to stabilise operations after a sharp decline in fleet strength that has seen it fall behind younger rival Akasa Air as reported by FE last month. The airline said the additional aircraft will enhance operational flexibility and support network requirements during the peak travel season across domestic and international routes. The fleet augmentation comes at a critical juncture for SpiceJet. Once among India’s largest low-cost carriers, the airline operating just 21 aircraft as of May 2026, down from 33 in December and well below Akasa Air’s fleet of 38 aircraft.
Meta description: Vedanta Resources is set to refinance $5.2 billion of dollar debt to lower borrowing costs after rating upgrades, Bloomberg reported. Billionaire Anil Agarwal's Vedanta Resources Ltd. is set to refinance $5.2 billion of US dollar bonds and loans, according to people familiar with the matter, as it seeks to lower borrowing costs by replacing expensive debt after securing credit-rating upgrades.
HCLTech will launch an AI Innovation Zone in collaboration with Google Cloud at Santa Clara, California. The AI Innovation Zone will enable global enterprises to scale artificial intelligence(AI) applications across agentic, kinetic and physical AI. The company said in its regulatory filing that the centre will provide a dedicated environment for businesses to design, build and deploy AI-powered workflows. It will also support robotics-led innovation and help enterprises develop industry-specific AI solutions that deliver measurable business outcomes. Focus on scaling enterprise AI The AI Innovation Zone is powered by Gemini Enterprise, Google’s AI platform. The initiative builds on the expanded partnership between HCLTech and Google Cloud announced in March this year.
Tata Consultancy Services (TCS) has signed a multiyear, multimillion Euro transformation and managed services agreement with Canada Life, to support the modernisation of Canada Life’s IT infrastructure services across its European businesses, the IT major said in a statement on Monday. The programme aims to improve operational resilience, increase automation and enhance user experience while helping Canada Life accelerate its broader technology strategy by leveraging TCS’ AI & digital capabilities. The engagement will also support the insurer in scaling technology services more effectively and responding more quickly to changing business needs. “Working with TCS marks the next stage of our journey to modernise the technology foundations that underpin our business. TCS brings deep technical expertise, strong transformation capabilities and a collaborative approach that aligns well with our strategy,” Caroline Dibbs, Chief Information & Transformation Officer, Europe, Canada Life Group said.
Adani Power‘s plans to more than double generation capacity by FY32, improve power purchase agreement coverage and strengthen cash-flow generation. This has reinforced Jefferies‘ positive view on the stock following a management interaction. The brokerage maintained its ‘Buy’ rating and target price of Rs 255, implying an upside of about 11% from the previous closing price. Jefferies said 56% of the company’s planned 23.7 gigawatts of upcoming capacity is already tied up under long-term power purchase agreements, while management aims to secure agreements for the balance capacity as well. Adani Power: Jefferies expects steady growth The brokerage expects Adani Power Ltd. to deliver a 23% earnings before interest, tax, depreciation and amortisation compound annual growth rate between FY26 -FY30 and turn free cash flow positive by FY30.
Reliance Infrastructure has entered the artificial intelligence space by launching three AI-focused subsidiaries- Reliance AI World Private, Reliance AI Apex Private, and Reliance AI One Private. In a regulatory filing, the company said it has started incorporating AI and related technology-driven activities into its business framework as part of its expansion into new-age technologies. “Reliance Infrastructure, as a step to participate in the rapidly evolving field of Artificial Intelligence (“AI”) and allied new-age technologies, has through its subsidiaries, undertaken certain enabling steps to incorporate AI and related technology-driven activities within its business framework,” the company said in its regulatory filing.
VinFast parent Vingroup’s electric mobility arm Green SM on Thursday entered the Indian market with the launch of its electric ride-hailing service, Green SM Limo, in Delhi NCR, marking its first expansion into South Asia. The company has begun operations with a fleet of around 1,000 electric vehicles and plans to scale up to 10,000 vehicles across Delhi NCR in the coming months, intensifying competition in the country’s ride-hailing market. Scaling the Grid Speaking at the launch event, Haryana Industries and Commerce Minister Rao Narbir Singh said the company had shared its expansion plans with the state government.
VinFast parent Vingroup’s electric mobility arm Green SM on Thursday entered the Indian market with the launch of its electric ride-hailing service, Green SM Limo, in Delhi NCR, marking its first expansion into South Asia. The company has begun operations with a fleet of around 1,000 electric vehicles and plans to scale up to 10,000 vehicles across Delhi NCR in the coming months, intensifying competition in the country’s ride-hailing market. Scaling the Grid Speaking at the launch event, Haryana Industries and Commerce Minister Rao Narbir Singh said the company had shared its expansion plans with the state government.
Tata Sons, the holding company of $150-billion Tata Group, infused an additional Rs 5,166 crore into loss-making telecom subsidiary Tata Teleservices during FY26, thus increasing its stake in the unlisted company to 94.3% and helping the company pay government dues. The capital infusion highlights the continued support being extended by the Tata Group’s holding company to some of its loss-making businesses. Along with Air India and Tata Digital, Tata Teleservices is to be discussed at the Tata Sons board meeting scheduled for June 12. The Tata Sons board is also slated to consider the group’s annual accounts and dividend payout to its shareholders, say group sources.
Rajesh Exports, which came under scrutiny after the Indian markets regulator alleged inflated financial disclosures, has refuted the claims. The revenues declared are correct and there is no over-statement of the same, the company said in an exchange filing on Thursday. “There seems to be some type of communication gap and confusion between SEBI (Securities and Exchange Board of India) and the company,” it added. The matter pertains to Sebi’s ex-parte interim order issued on Wednesday to further investigate the Bengaluru-based company and its Chairman Rajesh Mehta for allegedly misrepresenting ₹15 lakh crore of revenues over 5 years till FY25.
India’s IT services company, Tata Consultancy Services (TCS), has announced a strategic partnership with Finland-based premium tyre maker Nokian Tyres to expand the use of artificial intelligence (AI) across its IT operations. Under the agreement, TCS will help Nokian Tyres adopt AI-driven solutions in application management, development, and onsite support services. The move aims to improve efficiency, scalability, and resilience across the company’s IT infrastructure.
Share price of Bharat Heavy Electricals (BHEL) rose more than 2% as the company announced it has bagged an order worth Rs 21,000 crore for the development of a thermal power plant in Uttar Pradesh. BHEL: Order key details BHEL has been awarded this order by Meja Urja Nigam Private (MUNPL), which is a joint venture company between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam (URRVUNL). The order is domestic in nature and has a value of over Rs 21,000 crore (exclusive of GST).
Australia's AirTrunk said on Friday it would invest $30 billion in India within the next four years to build out 5 gigawatts of new data centre capacity in the South Asian nation. Sydney-headquartered AirTrunk, backed by Blackstone and Canadian Pension Plan Investment Board (CPPIB) entered the Indian market in April with its purchase of Lumina CloudInfra.
The Securities and Exchange Board of Inda (SEBI) has ordered an investigation into Rajesh Exports and its Executive Chairman Rajesh Mehta for allegedly misrepresenting financial statements aggregating ₹15 lakh crore. This represents 99.8% of the company’s total consolidated revenue during FY21-FY25. The regulator also restrained Mehta from trading the company’s securities in any form until further orders. A series of violations were found, as per Sebi’s interim order, including non-disclosure of material consolidated financial information, non-availability of financial statements of subsidiaries and step-down subsidiaries, non-availability of information at consolidated levels, misrepresentation of financial statements in annual reports, false claim of investment in gold mine in Africa, and non-cooperation by the company and its chairman, as per Sebi’s interim order. Regulator says company hampered SEBI’s probe The regulator alleged that the company hampered its probe by not providing the required financial information and “furnishing varying and inconsistent submission” at different stages of investigation.
Five years after reporting losses of nearly Rs 4,000 crore and undertaking large-scale layoffs during the pandemic, Oyo is showing signs that a sweeping overhaul of its business model is paying off. Prism, Oyo’s parent company, reported a consolidated revenue of Rs 6,253 crore in FY25, up 16% year-on-year, while profit after tax stood at Rs 245 crore, up 6.5% from the previous year. Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose to Rs 1,083 crore, marking the company’s twelfth consecutive Ebitda-positive quarter, according to its annual report. In the first quarter of FY26, Oyo said provisional profit after tax crossed Rs 200 crore, more than double the Rs 87 crore reported a year earlier, while revenue rose 47% to Rs 2,019 crore. The turnaround follows a fundamental shift away from the growth-at-all-costs strategy that defined Oyo’s early years.
Wind turbine manufacturer Suzlon Energy launched the Suzlon 2.0 initiative, transforming the company from a wind energy equipment and solutions provider into a full-stack renewable energy company. This new direction includes offering wind, solar, and battery energy storage solutions (BESS) as a comprehensive package, along with energy management services. Suzlon has set ambitious growth targets for the fiscal year 2031, aiming to increase its annual renewable energy sales fourfold to 10 GW, expand its order book to 15 GW, and grow its Assets Under Management (AUM) to 70 GW. The company is also re-entering the global market, targeting 3 GW in export orders by FY31, supported by its next-generation high-capacity 5 MW and 6.3 MW wind turbines.
Maruti Suzuki on Thursday launched what it described as India's first flex-fuel passenger car, positioning the technology as a key pillar in the country's efforts to reduce crude oil imports, lower carbon emissions and strengthen energy security. Speaking at the launch event, Managing Director and CEO Hisashi Takeuchi said the introduction of the flex-fuel Wagon R marked more than the debut of a new vehicle and represented "a new chapter in India's energy journey." The company unveiled the vehicle in the presence of Union Road Transport and Highways Minister Nitin Gadkari and Petroleum and Natural Gas Minister Hardeep Singh Puri, both of whom have championed the use of alternative fuels and domestic energy sources. Highlighting India's dependence on imported crude oil, Takeuchi said the country needed energy solutions that were "cleaner, affordable, scalable, and based on India's own strengths."
Indian beverage startup Archian Foods, best-known for its flagship Lahori Zeera drink, is targeting revenue of Rs 1,150-1,200 crore in FY27 after closing FY26 with sales of Rs 775 crore, co-founder and CEO Saurabh Munjal said in an interaction with FE. The company is stepping up investments in manufacturing and distribution to capitalise on the rising demand for Indian-flavoured drinks. In three years, the Mohali, Punjab-headquartered firm hopes to achieve a turnover of Rs 2,000 crore for which it has put a blueprint in place, Munjal says. For one, the company is eyeing a bottling push nationwide, with plans to expand its contract manufacturers from five now to about 25-30 in the next few years, he says.
Godrej Industries Group on Tuesday announced the launch of its wealth management arm, Godrej Wealth, through its subsidiary Godrej Investments. The newly-launched company is targeting assets under management of Rs 1 lakh crore over the next five years by focusing on the affluent and the high-net-worth segments and expanding in 35 locations. Godrej Wealth will operate alongside Godrej Capital, the group’s lending business, together forming the financial services arm of the Godrej Industries Group. Kunal Karnani has been appointed the chief executive officer of the wealth management arm.
Critical minerals and battery recycling company Lohum is set to operationalise its newly acquired lithium mines in Zimbabwe in a month or two, targeting production of 30,000 tonne of lithium carbonate equivalent per year, even as the ongoing West Asia crisis has pushed procurement costs up by as much as 50%. The company has set a revenue target of Rs 10,000 crore by 2029, backed by planned capital expenditure of Rs 2,500-3,000 crore, Rajat Verma, founder and CEO, tells Saurav Anand in an interview. Excerpts. Lohum has traditionally been known as a recycler. Is the company now formally diversifying into the mining sector, and what does that strategic shift look like on the ground?
Realty firm Anant Raj Ltd has signed a Memorandum of Understanding (MoU) with the Haryana government to invest Rs 20,000 crore in developing large-scale data centre infrastructure across the state. The agreement was formalised during the launch of the ‘Make in Haryana Policy’ and other sector-specific initiatives organised by the Department of Industries & Commerce, Government of Haryana. Investment to strengthen Haryana’s digital infrastructure The proposed investment is aimed at expanding data storage capacity, cloud computing services and digital connectivity infrastructure in Haryana, amid growing demand from businesses and technology firms. According to the company, the planned investment is in addition to its existing and ongoing data centre expansion projects in the state.
The footprint of Indian businesses in the UK expanded sharply this year, with the number of Indian-owned companies rising nearly 60% from a year earlier and combined revenues surpassing £105 billion, according to the latest India Meets Britain Tracker published by Grant Thornton UK. The 2026 edition of the report found that 1,912 Indian-owned businesses are now operating in the UK, up from 1,197 in the previous year, with their combined turnover reaching £105.77 billion compared with £72.14 billion in 2025. Published by Grant Thornton UK in collaboration with the Confederation of Indian Industry (CII) and India Global Forum (IGF), the India Meets Britain Tracker tracks the fastest-growing Indian-owned businesses in the UK and examines trends in investment employment and sector growth.
The Tata Sons management sought approval for an equity infusion of approximately Rs 7,000 crore into the group's digital consumer businesses at the May 26 board meeting. The digital consumer business include platforms such as BigBasket, Tata Cliq and other consumer-facing digital ventures housed under Tata Digital, according to people familiar with the matter. However Tata Trusts Chairman Noel Tata is said to nave questioned both the scale of funding sought and the assumptions underpinning the business plan, Deople directly aware of the matter told Moneycontrol. The proposal was accompanied by projections indicating that the businesses are likely to continue reporting losses over the next three financial years as the group continues investing aggressively in building scale, customer acquisition and market share, people familiar with the matter said. These losses could amount to Rs 9,000 crore over the next three fiscal years, the people said.
Mid-tier IT services firm Happiest Minds Technologies on Friday reported a 51.7% growth in consolidated net profit to Rs 61.17 crore for the fourth quarter of FY26, up from Rs 40.3 crore in the previous quarter. The Bengaluru-based company’s AI-focused programme, announced in the last quarter, generated significant growth in deal momentum, while also expanding its operating margins. The company’s revenue from operations also increased 2.8% sequentially to Rs 604.08 crore from Rs 588 crore in the third-quarter of FY26. Meanwhile, on a yearly basis, the firm’s consolidated net profit jumped 79.9% during the quarter, rising from Rs 34 crore in the same quarter last year. On the other hand, the firm’s total revenue grew 10.9% from Rs 544.57 crore posted a year ago. Operating margins increased 5.3% q-o-q to Rs 106.21 crore from Rs 85 crore in the previous quarter.
Asian Paints‘ fourth-quarter (Q4FY26) profit and revenue numbers beat estimates amid demand momentum seen during the period. An exceptional item of Rs 183 crore in the year-ago quarter also contributed to the sharp rise seen this year in bottomline. The company’s net profit for the March quarter grew 69.3% year-on-year to Rs 1,172 crore. A year ago, net profit stood at Rs 692 crore. Bloomberg consensus estimates had pegged Q4 net profit at Rs 1,043 crore.
InterGlobe Aviation (IndiGo) posted a consolidated net loss of ₹2,536.9 crore for the March quarter, compared with a profit of ₹3,067.5 crore a year earlier, as foreign exchange losses, elevated costs, and exceptional charges weighed heavily on earnings. The result was sharply below Bloomberg analyst estimates of a profit of ₹1,871 crore. Revenue rose 1.3% year-on-year (Y0Y) to ₹22,438.4 crore from ₹22,151.9 crore in the same period last year, indicating modest top-line growth despite a challenging operating environment. However, profitability was significantly impacted by rising costs and currency volatility.
Reliance Industries Limited is targeting the start of commercial-scale production at its battery giga-factory around July, while simultaneously increasing its planned annual manufacturing capacity to 40 gigawatt hours (GWh) of lithium iron phosphate (LFP)-based batteries from the earlier 30 GWh target, according to the company’s latest annual report. In its FY26 annual report, RIL said its Battery Energy Storage System (BESS) giga-factory has entered an “advanced commissioning” stage. “With civil construction complete and equipment installation underway, production will ramp through the second half of 2026, focused on LFP chemistry for utility-scale BESS and mobility,” the company said.
Defence PSU BEML posted a year-on-year (YoY) decline in its consolidated net profit to Rs 179.82 crore in Q4FY26 from Rs 287.55 crore reported in Q4FY25. The company’s revenue from operations rose 8.57% to its highest-ever quarterly revenue of Rs 1,794.17 crore, compared with Rs 1,652.53 crore reported in Q4FY25. BEML said it has recorded the highest ever closing order book position of 15,896 crores as on March 31.
China's SAIC Motor will sell a further 10% stake in its Indian carmaking venture, JSW MG Motor, two sources with direct knowledge of the matter told Reuters, in a deal that will make local partner JSW the biggest shareholder of the unit. The decision follows SAIC's struggles to bring in equity and expand its operations due to New Delhi's investment curbs, even after it trimmed its 100% ownership of the company and brought on board domestic partners, including billionaire Sajjan Jindal's JSW Group.
Vedanta Group on Friday said that it has received its highest domestic credit rating in over a decade after rating agency ICRA upgraded the long-term ratings of its key group entities to AA+. Securities with an AA+ rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such securties carry very low credit risk.
