Company News

Fairfax plans to combine IDBI Bank, Digit and IIFL Capital into one entity

N S Kannan, former managing director and chief executive officer of ICICI Prudential Life Insurance and former chief financial officer of ICICI Bank, is proposed to become chairman

Flipkart narrows FY26 losses as revenue rises 18%, margins improve

Walmart-backed e-commerce company reports group results under Flipkart Internet after its move to India

Nestle India Q2FY27 net profit rises 35.9% to ₹1,010 cr; stock falls 7.8%

Nestle India's revenue rose 20.3% to ₹6,788.3 crore in Q2FY27, driven by double-digit volume growth, while its shares fell 7.76% amid concerns over rising food inflation

IPO proceeds will make us net-debt-free company: Jio Platforms MD

Industrialist Dhirubhai Ambani, the founder of the group, took Reliance Textile Industries, which later became RIL, public in 1977

Prosus Ventures leads $1.5 million funding in space startup Cosmochute

Cosmochute is developing its LEAP lunar mobility platform to support payload transportation and deployment on the Moon, with funding aimed at accelerating development and hiring.

Pernod Ricard India sales grow 19% in Sep quarter; IPO plan awaits approval

Pernod Ricard reported 19% sales growth in India in the September quarter, while its proposed IPO remains under discussion pending board approval

UCO Bank net profit rises 27% to ₹786 crore in July-September quarter

UCO Bank reported a 27% year-on-year rise in second-quarter net profit to ₹786 crore, supported by higher income, improved operating profit and better asset quality

HDFC AMC net profit climbs 4% to ₹749 crore in September quarter

HDFC AMC's consolidated net profit rose 4.2 per cent to ₹749 crore in Q2 FY27, while revenue increased 14 per cent to ₹1,170 crore. Its assets under management stood at ₹9.7 trillion.

Tata Trusts question Mehli Mistry's locus standi for raising objections

Two Tata Trusts entities have questioned Mehli Mistry's locus standi to raise governance concerns, arguing that his tenure as trustee ended in October 2025.

Tonbo Imaging IPO subscribed 4 times on Day 1, led by strong NII demand

The defence electronics maker's ₹852 crore offer attracted strong demand across investor categories, while secondary share deals valued the Bengaluru-based firm at ₹4,000 crore

AstraZeneca strikes $40 million AI drug discovery deal with Insitro

The multi-year partnership will target severe liver and heart conditions, with insitro eligible for up to $1.46 billion in development and commercial milestone payments

Persistent Systems Q2 profit falls 25.4% to ₹351 crore; revenue up 30.3%

Persistent Systems reported a 25.4% fall in Q2 profit to Rs 351 crore, even as revenue rose 30.3% to Rs 4,664 crore; operating margin narrowed to 15% from 16.3%

Mankind Pharma to acquire 70% in Belgian biotech firm for €48 million

Deal marks entry into next-generation CAR-T cancer therapies as company expands global innovation ambitions

AUM Ventures aims to close ₹750 cr fund by March 2027, bets on deep-tech

The venture capital firm has raised ₹250 crore in the first close of its ₹750 crore fund and plans six to seven investments this year, focusing on space-tech and other deep-tech sectors

Paras Health to use ₹375 cr from IPO to pare debt, plans 800-bed expansion

The ₹1,450-crore IPO comprises a ₹500-crore fresh issue and a ₹950-crore offer for sale, while the hospital chain plans to add 800 beds through projects in Gurugram and Ludhiana

Tyre makers ready for BS-VII abrasion norms, seek clarity on testing rules

Proposed tyre abrasion norms from April 2031 are expected to drive R&D investments as manufacturers seek clarity on testing protocols while grappling with rising raw material costs

Cognizant leases 645,000 sq ft in Chennai at ₹4.77 crore monthly rent

Cognizant has leased 645,172 sq ft at Embassy Splendid TechZone in Chennai for five years at a monthly rent of ₹4.77 crore, with a 15% rent escalation every three years

Indian Bank Q2 profit grows 14% to ₹3,540 cr as asset quality improves

Indian Bank's consolidated net profit rose 14% to ₹3,540 crore in Q2FY27, while gross NPAs declined to 1.61% and deposits grew 12.5% year-on-year to ₹8.74 trillion

Food delivery platform Swiggy launches multi-restaurant ordering feature

Swiggy's new feature lets users combine food orders from up to five restaurants through a single checkout, eliminating multiple platform fees and simplifying payments across 720 cities

Satcom services unlikely to gain scale, compete on price in India: Jio

JPL developing own satellite constellation, evaluating partnerships with global cos