Page 2 - Companies

Beyond KYC: Lenders turn to 'alternative' data to assess risk, detect fraud

Risk assessment firms are using data available publicly or obtained through user consent but is not available through credit bureaus to detect mule accounts, syndicates, and risky borrowers

Uber switches to subscription-based model to retain drivers, navigate GST

The move aligns Uber with rivals Ola and Rapido amid GST ambiguity and driver pushback against commissions, marking a major shift in India's ride-hailing model

Premji Invest-backed People Housing Finance eyes ₹12,000-crore loan book

The affordable housing financier plans to consolidate Centrum and Capital Housing, expand across Tier-II and III cities, and quadruple its portfolio over five years

Tata Elxsi Q2FY26 results: PAT falls 32% to ₹155 cr, revenue down 3.8%

However, the revenue from operations decreased by approximately 3.87% to ₹918.1 crore in Q2FY26; it had reported ₹955.09 crore in the same quarter of last financial year

Govt pitches for sector-specific CSR framework for coal companies

The government on Tuesday stressed on the need for a corporate social responsibility framework for companies operating in the coal sector to serve as a guide to promote responsible and sustainable practices. The move also aims at reducing environmental impact and enhancing stakeholder engagement among private as well as public sector coal companies. "Given the growing presence of private players in the sector, a need has been felt for a sector-specific CSR framework for coal companies," the coal ministry said in a statement. The corporate social responsibility (CSR) policies of coal PSUs have been formulated within the policy directives provided under the Companies Act, 2013, the Companies (CSR Policy) Rules, 2014 and guidelines of Department of Public Enterprises (DPE). Over the years, coal PSUs have taken remarkable initiatives in the areas of health, education, environment, sanitation, sports, etc. The coal ministry organised a stakeholders' consultation to deliberate upon CSR

Amazon Pay India revenue drops 7% in FY25 amid festive surge in usage

Despite ₹866-crore loss, platform sees strong consumer adoption during Great Indian Festival

BSNL to upgrade all 4G towers to 5G within 8 months: Jyotiraditya Scindia

The telecom minister says BSNL's 92,500 4G towers, built using an indigenous tech stack, will be upgraded to 5G within six to eight months as the company posts Rs 5,000 crore operating profit

IPO-bound Tata Capital focuses on green financing, tech for growth

Tata Capital Ltd, set to launch its IPO next week, has identified green financing and digital innovation as its core growth pillars, backed by the merger of its IFC-backed subsidiary Tata Cleantech Capital in 2024. By FY25, the cleantech and infrastructure finance book reached Rs 18,000 crore, growing at a 31.8 per cent CAGR over the last two years, the NBFC said on Friday. "Over the last decade, the cleantech portfolio has financed over 500 renewable projects and sanctioned more than 22,400 MW of capacity across solar, wind, biomass, small hydro, among others," MD and CEO Rajiv Sabharwal said. "The cleantech segment combines rapid growth with high-quality, secured assets, underpinned by technology-driven monitoring and disciplined underwriting. The portfolio is among the cleanest in the NBFC space, positioning the company as a key mobilizer of global climate capital," he said. The Tata Group NBFC said it is building for the long term with a vision anchored on trust, ...

Occidental to sell OxyChem unit to Berkshire Hathaway for $9.7 billion

The company sunk deeper into debt after it closed its $12 billion acquisition of privately held US shale oil producer CrownRock last year, which strengthened its position in the Permian Basin

Lalbaba Engineering, CJ Darcl Logistics and Jerai Fitness file draft IPO

Engineering solutions company Lalbaba Engineering, CJ Darcl Logistics, the India arm of South Korea's logistics firm CJ Logistics, and fitness equipment maker Jerai Fitness and have filed draft papers with markets regulator Sebi to garner funds through initial share-sales. With these filings, the IPO pipeline remains strong. Over the past few days, nearly two dozen companies have submitted draft papers with Sebi, and so far, 77 main-board IPOs have been launched this year and several large issues are lined up for this month. The filing also comes at a time when the Indian market is experiencing a boom in primary market activity, despite a struggling broader equity market. The Kolkata-based Lalbaba Engineering's proposed IPO is a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 370 crore by promoters, according to the draft papers filed on September 29. Proceeds from its fresh issuance worth Rs 271 crore will be utilised for funding capital expenditure requirement for .

M&M to sell Finnish subsidiary Sampo Rosenlew to TERA for ₹52 crore

Mahindra & Mahindra will divest its Finnish arm Sampo Rosenlew Oy, maker of combine harvesters and forestry machines, to TERA for Rs 52 crore under a share purchase agreement

L&T, Standard Chartered tie up for $700 mn sustainability-linked facility

Larsen & Toubro (L&T) has secured a $700 million sustainability-linked trade facility with Standard Chartered, tied to carbon and water targets, reinforcing its commitment to green business practices

Amazon festival sale clocks record 380 million visits in 48 hours

Amazon's Great Indian Festival saw 380 million visits in 48 hours, led by tier 2-3 demand, GST savings, premium product sales and record participation from SMB sellers

Energy trading platform Prisma signs MoU with IGX for market cooperation

Prisma European Capacity Platform GmbH and Indian Gas Exchange Limited (IGX) on Tuesday signed a memorandum of understanding (MoU) on gas market cooperation to support transparent, efficient, and sustainable gas markets. "The MoU intends to build a basis for cooperation and development of modern, transparent and efficient gas markets, explore digital solutions for booking and trading gas and LNG, along with exchanging knowledge and best practices," IGX said in a statement. The MoU was signed during a delegation visit to Prisma's Leipzig headquarters. Under the MoU, Prisma and IGX will collaborate in areas such as knowledge sharing and training through joint workshops, training programmes, and capacity-building initiatives for regulators, operators, and market participants. The two would also explore best practices in digital solutions for booking and trading of natural gas and LNG infrastructure, as well as exchange insights on regulatory frameworks to support market transparency a

InCred, Analah consortium invests ₹50 cr in PRISM-backed Sunday PropTech

Sunday PropTech, backed by PRISM, raises Rs 50 crore from InCred and Analah-led consortium to expand premium and mid-premium hotels under brands such as Sunday and Townhouse

Kalyani Investment rebuts IIAS voting advice on Amit Kalyani at Hikal

Kalyani Investment has challenged IIAS's negative advice on Amit Kalyani's reappointment to Hikal's board, stressing his non-involvement in disputes and SES's support

HoABL invests ₹200 cr in affordable housing, plans 7 more sites in Mumbai

Realty firm House of Abhinandan Lodha is investing Rs 200 crore in an affordable housing project in suburban Naigaon, and looking at seven more sites to have similar developments in metropolitan Mumbai, a top company official said on Monday. HoABL chairman Abhinandan Lodha told reporters that it has started discussions on one of the sites, while the others are only identified ones. The seven sites include one near the upcoming Navi Mumbai International Airport, he added. "All these will be joint developments with people holding the land. We will look for over 20 lakh sq ft of development potential which will get delivered in about five years," the son of BJP leader Mangalprabhat Lodha who started this company in 2020, said. The Naigaon project, where it has partnered with Mittal Builders, is spread over 12 acres and will be built in two phases over the next five years, he said, adding that HoABL is investing Rs 200 crore in it. Lodha said his group which is also into plotted ...

GK Energy IPO worth ₹464 cr sees 6.41 times subscription on day two

The initial public offering of GK Energy Ltd, a solar-powered agricultural water pump systems provider, garnered 6.41 times subscription on the second day of share sale on Monday. The IPO received bids for 14,22,08,192 shares against 2,21,80,828 shares on offer, as per NSE data. The portion for non-institutional investors fetched 10.05 times subscription while the quota for retail individual investors got subscribed 6.84 times. Qualified institutional buyers quota received 2.90 times subscription. GK Energy on Thursday said it has collected over Rs 139 crore from anchor investors. The Rs 464-crore IPO will conclude on Tuesday. The price band has been fixed at Rs 145-153 per share. The Pune-based firm's offering is a combination of fresh issue of shares worth Rs 400 crore and an offer-for-sale (OFS) of 42 lakh equity shares, worth Rs 64.26 crore at the upper end, by selling shareholders. Proceeds from the fresh issue to the extent of Rs 322.5 crore will be utilised for funding the

Amazon Now to expand to over 300 dark stores by 2025 with ₹2,000 cr push

Amazon India will expand its Amazon Now network to more than 300 dark stores by end-2025, investing Rs 2,000 crore in storage, processing and delivery infrastructure

Oil India targets ₹1.3 trillion capex by 2030, says CMD Ranjit Rath

Oil India chief expects that the construction of Mozambique LNG project will resume by the end of this year