Page 18 - Company News

OfBusiness's AI-powered BidAssist expands reach beyond India's big cities

More than 60% of BidAssist's 1.7 million users are in Tier-II and Tier-III cities. The AI-powered platform tracks over 50,000 live tenders daily to help SMEs identify orders and assess bids

ITC Hotels expands NCR presence with 104-key 'Welcomhotel' in Manesar

The hotel will cater to corporate and social events, with connectivity to Delhi, Gurugram, Noida and Faridabad, as ITC Hotels expands its presence beyond major gateway cities

Magicbricks names ex-CarDekho executive Mayank Jain as CEO, effective Oct 1

Jain joins from CarDekho, where he led Auto Classifieds for over five years, and will focus on business transformation, technology-led innovation and operational performance

Omaxe, Lemon Tree ink pact to manage 10 upcoming hotels worth ₹4,000 cr

The projects will span eight locations, including Lucknow, Vrindavan and Greater Noida, and form part of Omaxe's broader ₹6,200 crore plan to develop 19 hospitality projects across five states

Ambani taps Reliance's 420,000 employees to boost Jio IPO participation

The conglomerate has reached out to staff across its group companies and encouraged them to open trading accounts, as Mukesh Ambani seeks to build interest in the proposed $3.2 billion listing

Krisumi Corp starts construction of two phases at Krisumi City in Gurugram

The company will invest over ₹1,300 crore in the two phases, comprising 542 units at its 33.38-acre Krisumi City township in Gurugram, with prices starting at about ₹4.9 crore

Fund managers halt inflows after Supreme Court ruling on Yes Bank bonds

Kotak Mahindra Asset Management and Nippon Life India Asset Management have paused fresh investments as they review how SC's decision to overturn the 2020 AT1 bond write-off could affect valuations

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

Indian software stocks set to outperform AI peers by most margin in decades

India's top software exporters have surged over 10% this week as global chip stocks fall 7.4%, with analysts pointing to AI valuation concerns and signs of improving revenue growth in the IT sector

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

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

India's family offices bet on homegrown AI firms to catch up with US, China

Azim Premji's family office, QED Innovation Labs and Ranjan Pai's family office are backing homegrown AI firms, even as India's AI investment of over $15 bn between 2013 and 2025 trails US and China

Reliance rebuts Musk's allegations, says rules apply equally to all

Reliance said it welcomes domestic and foreign competition, stressing that all satellite service providers, including Jio, must follow the same regulatory approval process

Fairfax Financial plans to merge Digit, IIFL Capital with IDBI Bank

Fairfax plans to combine IDBI Bank, Digit Insurance and IIFL Capital Services into an integrated financial services entity, subject to regulatory approvals

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