Company News

IDFC First Bank to pay Haryana govt ₹590 cr soon after branch fraud case

RBI Gov says issue not systemic; bank term it an isolated incident

IDFC First Bank fraud puts spotlight back on governance gaps in pvt banks

Large banks to gain post Haryana de-empanelment of IDFC First, AU

LTM bags $100 million deal from European medtech firm for 7 years

LTM has won a $100 million, seven-year deal from a European medtech firm to support and develop its flagship products, strengthening its large-deal momentum amid a tough macro environment

Bharti Airtel to infuse ₹20,000 cr in Airtel Money to push digital lending

Bharti Airtel and promoter group to contribute 70:30 into NBFC

₹45K cr capex plan may not help Vodafone Idea gain market share: Analysts

Amount much lower than rivals' capex: Analysts

M&M, Manulife name Suresh Agarwal MD & CEO designate of life insurance JV

M&M and Manulife have appointed Suresh Agarwal as MD & CEO designate of their 50:50 life insurance JV, marking Manulife's entry into India's life insurance sector, subject to approvals

Radisson, MBD Group to launch 50 hotels under Collection and Red brands

Radisson Hotel Group and MBD Group have entered a long-term partnership to develop 50 hotels under Radisson Collection and Radisson Red across key Indian destinations over the next decade

Torrent Group forays into diagnostics with large national reference lab

Torrent Group has entered the diagnostics sector with a 100,000 sq ft national reference lab in Navi Mumbai, marking a long-term push into high-end, specialised testing amid industry consolidation

Olectra Greentech bags LoI for 1,085 e-buses under PM E-drive scheme

The LoI - a preliminary document indicating the buyer's intention to place a formal order - has been issued by TGSRTC through Evey Trans Private Limited under the PM E-drive programme

Investment firm Hillhouse to acquire minority stake in Quest Global

Hillhouse has acquired a minority stake in Quest Global, with a primary capital infusion and share purchase from existing investors to support the firm's engineering-focused growth strategy

Gilead to acquire cancer therapy developer Arcellx for up to $7.8 billion

This is Gilead's biggest deal since its $21 billion buyout of Immunomedics, giving it access to Trodelvy, an antibody-drug conjugate used to treat a type of advanced breast cancer

Nexus Select Trust buys 50% stake in Runwal Enterprises mall for ₹434 cr

In a regulatory filing on Monday, Nexus Select Trust, a REIT sponsored by Blackstone, said it has entered into a tie-up for an under-construction development

Bharti Airtel plans to invest ₹20,000 crore to expand digital lending

Telecom major Bharti Airtel said on Monday it plans to inject ₹20,000 crore ($2.2 billion) into its financial arm over the next few years, marking a major push into digital lending

Morepen Labs wins ₹825 crore long-term CDMO deal with global drugmaker

Morepen Labs has secured a ₹825 crore multi-year CDMO mandate from a global pharma major, with supplies set to begin in 4-5 months and execution running through Q1 FY27

US insurance major The Hartford opens global tech centre in Hyderabad

The centre is expected to scale to a headcount of nearly 1,200 over the next few years

IDFC First calls Chandigarh fraud 'isolated' incident, says impact limited

IDFC First Bank says the Rs 590 crore fraud at its Chandigarh branch was an isolated case, suspends staff, appoints KPMG for forensic audit, and asserts it has adequate buffers to absorb the impact

The Cheesecake Factory Bakery enters India, eyes ₹250 crore in 5 Years

Over the next three to five years, TGC plans to open around 55 outlets across India, with six to 10 premium stores in each metro and selective entry into Tier-II cities

Bombay HC quashes stay order on fraud proceedings against Anil Ambani

Ambani's counsels sought the HC to stay its order so that they could approach the Supreme Court, but the request was declined

Godrej Properties inks pact to develop land parcel in Thane, eyes ₹7.5k cr

In a regulatory filing, the company informed that it has 'entered into a joint development agreement to develop an 18-acre land parcel in Thane, Mumbai

IDFC First Bank flags ₹590 cr fraud in govt accounts: What we know so far

IDFC First Bank reported a suspected ₹590 crore fraud in Haryana government accounts, linked to staff at its Chandigarh branch; four employees suspended and KPMG to probe fraud