Page 4 - Company News
TCE's long march from Tata captive to global engineering consultancy
Six decades on, nearly half its revenue comes from international markets
 "TCE's long march from Tata captive to global engineering consultancy")
Hope RBI will find a common ground with us: Tata Trusts Chairman Noel Tata
Tata Trusts, which holds 66 per cent in Tata Sons, outlined a proposal on Monday to merge Tata Electronics Systems Solutions Private Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons
 "Hope RBI will find a common ground with us: Tata Trusts Chairman Noel Tata")
Airtel an institution; next gen can decide on other biz, says Mittal
Expansion beyond British Telecom in Europe subject to finding the right candidates
 "Airtel an institution; next gen can decide on other biz, says Mittal")
OpenAI takes on Meta with always-on Dots agent in enterprise AI push
The Dots agents aim to capitalize on growing demand for agents that can handle everyday work with little supervision.
 "OpenAI takes on Meta with always-on Dots agent in enterprise AI push")
India's Essar group to invest $18 bn in steel manufacturing in the US
The plan includes a proposed $15 billion steel complex in Iowa and nearly $3 billion already invested in a Minnesota iron ore mine and pelletising facility
 "India's Essar group to invest $18 bn in steel manufacturing in the US")
IndusInd Bank targets 1.3% RoA, but insurance cuts pose earnings risk
Bank targets RoA of 1.25-1.30% over two years, but Jefferies says a 30% reduction in bancassurance fee income could lower profits by around 5%
 "IndusInd Bank targets 1.3% RoA, but insurance cuts pose earnings risk")
Following SC order on forensic audit, IHH may raise Fortis stake to 51%
IHH says India remains a key strategic market as it plans to deepen its Fortis investment, despite a Supreme Court-ordered forensic audit into past transactions
 "Following SC order on forensic audit, IHH may raise Fortis stake to 51%")
SC limits Fortis forensic audit, bars 'fishing and roving' bank inquiry
Supreme Court says the forensic audit must remain confined to transactions involving Fortis Healthcare, its holding company, judgment debtors and concerned banks
 "SC limits Fortis forensic audit, bars 'fishing and roving' bank inquiry")
NCLAT seeks creditors' response to Subhash Chandra plea against NCLT order
Appellate tribunal seeks replies within a week and will hear interim relief pleas on October 29-30; Chandra challenges NCLT's September 1 order
 "NCLAT seeks creditors' response to Subhash Chandra plea against NCLT order")
Britannia elevates N Venkataraman to deputy MD, names Jayaraman as CFO
N Venkataraman will oversee finance, strategy, legal, secretarial and IT functions, while Ramamurthy Jayaraman will take over as chief financial officer from October 1
 "Britannia elevates N Venkataraman to deputy MD, names Jayaraman as CFO")
Tata Electronics grows into strategically important arm of the Tata Group
From assembling iPhones to building semiconductor facilities, Tata Electronics has grown rapidly, with revenue rising from ₹1.9 crore in FY22 to ₹1.31 trillion in FY26
 "Tata Electronics grows into strategically important arm of the Tata Group")
IHH plans to raise Fortis stake to 51%, expand capacity to 10K beds by 2031
Malaysia-based IHH Healthcare has announced plans to hike its stake in Fortis Healthcare to 51 per cent over the next three to five years and expand total capacity to around 10,000 beds by 2031.
 "IHH plans to raise Fortis stake to 51%, expand capacity to 10K beds by 2031")
TVS Motor leases 529,533 sq ft office space in Bengaluru for 10 years
The 10-year lease at Gardencity IT Park in Hebbal commenced on September 22, with monthly rent of about ₹4.7 crore; Colliers advised on the transaction
 "TVS Motor leases 529,533 sq ft office space in Bengaluru for 10 years")
Medanta acquires land in Ghaziabad for ₹ 166 cr, to build 350-bed hospital
Proposed 350-bed facility in UP to strengthen Global Health's footprint across Delhi-NCR healthcare market
 "Medanta acquires land in Ghaziabad for ₹ 166 cr, to build 350-bed hospital")
SP Group's Mercury Finance taps dollar debt to meet another unit's dues
The real estate conglomerate plans to use the proceeds to invest in rupee-denominated bonds to be issued later by a local group entity.
 "SP Group's Mercury Finance taps dollar debt to meet another unit's dues")
India's Sun Pharma plans $1 billion local debt sale for loan takeout
Bankers expect total domestic corporate debt issuances this year to hit a record as higher US yields make dollar funding costlier, pushing companies to explore funding within the domestic market
 "India's Sun Pharma plans $1 billion local debt sale for loan takeout")
NCLAT issues notices to creditors on Subhash Chandra's insolvency plea
The appellate tribunal will hear Chandra's challenge to the NCLT order restraining him from alienating assets on October 29 and 30; creditors have a week to file replies
 "NCLAT issues notices to creditors on Subhash Chandra's insolvency plea")
Fitch revises Oyo parent's outlook to positive, sees potential deleveraging
The parent entity of the hospitality major has been re-named to PRISM from 'Oravel Stays'
 "Fitch revises Oyo parent's outlook to positive, sees potential deleveraging")
Who are the Ruias, and how did Essar land America's $15 bn steel project?
Trump has unveiled a $15 billion steel project with Indian conglomerate Essar; behind the landmark announcement is the Ruia family's decades-long journey through expansion, debt, and restructuring
Why Tata Sons faces a listing mandate and how Tata Trusts hopes to avoid it
After the RBI classified Tata Sons for listing in 2022, Tata Trusts first sought to end its NBFC status and, after that bid failed, proposed merging two operating businesses into the holding company
 "Why Tata Sons faces a listing mandate and how Tata Trusts hopes to avoid it")