Company News

Trading ban upends State Bank of India's $5 billion short, forces unwind

State Bank of India (SBI) is estimating losses of about ₹3 billion ($32 million) from the forced unwinding of these trades, the people said, asking not to be identified discussing confidential details

Industrialist Gautam Adani to seek dismissal of SEC fraud case in US court

Adani's lawyers said the SEC's claims were "impermissibly extraterritorial," and no ​statements challenged by the regulator were ‌actionable

CCI okays Torrent Power's proposal to acquire Nabha Power from L&T's arm

Nabha Power Ltd is a wholly-owned subsidiary of L&T Power Development Ltd (L&TPDL), and has been operating a 2x700 Megawatt supercritical thermal power plant at Rajpura, Punjab, since 201

25 firms join pre-bid meet for ₹7,280 crore rare earth magnet scheme

On March 20, the heavy industries ministry invited bids for setting up manufacturing facilities for 6,000 metric tonnes per annum (MTPA) of magnets under the scheme

Summer will be tough, but growth in line of sight, says Blue Star MD

Unseasonal rains and West Asia conflict may hit demand and costs, but Blue Star expects 20 per cent growth backed by strong long-term AC market expansion

Investment in research, innovation critical to be Atmanirbhar: Uday Kotak

Underscores need to strengthen "middle manufacturing", describing it as a missing link in India's industrial ecosystem

CCI clears Advent to acquire 14.3% stake in Aditya Birla Housing Finance

In another release, CCI approved the acquisition of a 100 per cent equity shareholding of KNR SPVs by Indus Infra Trust from KNR Constructions Ltd

Visa's Sandeep Ghosh to step down as India, South Asia country manager

Ghosh took over the role of country manager from T R (Ram) Ramachandran in March 2022

Nexus Select Trust to acquire Kolkata's Diamond Plaza mall for ₹347.5 cr

Acquisition of Diamond Plaza in Kolkata will help Nexus Select Trust expand its footprint in eastern India and strengthen its retail portfolio

Coforge appoints Sunil Fernandes as COO to lead delivery, AI push

Fernandes to oversee global delivery and key operations, with a mandate to scale execution and accelerate adoption of AI-native practices across engineering and internal systems

Tata Steel India clocks record crude steel production of 23.48 mt in FY26

Output rises 8 per cent year-on-year on Kalinganagar ramp-up, with domestic deliveries crossing 20 mt for the first time and strong growth across segments

Cred revamps Kuvera app to deepen wealth-tech play, targets investors

Fintech firm upgrades Kuvera with new tools to improve investment discipline and performance, targeting affluent users with long-term portfolio management features

Savills acquires majority stake in Hotelivate to expand APAC advisory

Deal aims to build a unified hospitality advisory platform across Asia Pacific, combining Hotelivate's sector expertise with Savills' global real estate capabilities

Birla Estates clocks over ₹1,600 crore in bookings at Gurugram project

Nearly 97 per cent of the residences - 152 of 156 units - have been sold, underlining strong buyer confidence in the brand's luxury developments in Gurugram

Govt mulling options to retain 51% stake in PFC post merger with REC

Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of PFC and REC to help achieve scale and improve efficiency in the public sector NBFC space

DoT extends AGR dues reassessment timeline for Vodafone Idea till June

The reassessment was earlier targeted for completion by March 31

Shyam Metalics' Odisha unit sealed over violations of pollution norms

Enforcement action targets multiple units at Rengali plant after repeated non-compliance with air, wastewater and hazardous waste norms despite earlier notices

Intel elevates India region MD Santhosh Viswanathan as head of APAC, Japan

Company veteran to oversee business, brand and customer engagement across Asia Pacific and Japan, marking a key leadership move from India

Iran war-led deferments drag Lodha Developers' FY26 pre-sales below target

The company expects to reduce business development investments over the next 24 months and increase free cash flow

Shapoorji Pallonji group gets relief on $3.4 billion private credit

Its financing arm, Porteast Investment, will temporarily raise its loan-to-value limit to 40 per cent from 34 per cent for four months through July 15