Company News

Poonawalla Fincorp Q1FY27 results: PAT jumps nearly fivefold to ₹308 crore

The NBFC reported strong growth in profit, AUM and net interest income in Q1FY27, while asset quality improved and secured loans accounted for over half its portfolio

Union Bank Q1 profit rises 29.5%; eyes up to $300 mn overseas borrowings

Union Bank of India reported a 29.5 per cent rise in first-quarter profit and said it aims to raise up to $300 million overseas while targeting $2 billion in FCNR(B) deposits

Open Vision Engineering raises $11 million from Accel, Y Combinator

The AI hardware company will use the funding to expand its design and engineering teams, develop new device formats and strengthen the Pocket product platform

LTM expects AI revenue to outpace traditional services: CEO Venu Lambu

LTM expects AI revenue to grow faster than its traditional IT services business as enterprise adoption accelerates, with demand rising for deployment of advanced AI models from Anthropic and OpenAI

ICICI Prudential AMC Q1 results: Net profit rises 23% to ₹965 crore

Profit before tax grew 20.6 per cent to ₹1,280.65 crore during the quarter from ₹1,061.96 crore a year earlier

Adie Broswon Breweries signs long-term manufacturing deal with UBL

Adie Broswon Breweries has entered a long-term manufacturing deal with United Breweries, with its large-scale brewing facility set to support regional production

Marico to keep focus on strengthening growth engines in FY27: Chairman

Marico will focus on strategy, which will aim at category leadership, premiumisation, market expansion, digital enablement, and continue to guide its priorities & investments, supported by execution

Swiggy's domestic ownership crosses 50%, becomes Indian-owned entity

Domestic ownership has crossed 50 per cent, paving the way for Swiggy to seek Indian-owned and controlled company status that could enable Instamart to adopt an inventory-led model

Raymond hires ex-BEL chief Bhanu Prakash to lead defence business

At Raymond, Bhanu Prakash Srivastava will be responsible for shaping the company's long-term defence strategy and overseeing its growth plans in the segment

BPCL buys Videocon's Brazil oil and gas stake, takes full ownership of JV

BPCL has acquired Videocon's remaining stake in IBV Brasil Petroleo, taking full ownership of the Brazilian venture as it looks to expand overseas energy assets

Who is Puneet Sharma, the finance veteran joining HDFC Bank as CFO?

Puneet Sharma will join HDFC Bank as CFO-designate from September 1 before taking charge in December, succeeding retiring CFO Srinivasan Vaidyanathan after over six years at Axis Bank

Bandhan Bank CFO Rajeev Mantri resigns, to step down on September 25

In a regulatory filing, the lender said Mantri submitted his resignation in a letter dated June 29, 2026, to pursue another opportunity for career growth

Axis Bank CFO Puneet Sharma quits after six years; no successor announced

In a regulatory filing, the private sector lender said Sharma submitted his resignation on June 28 to pursue the next phase of his professional career

Icra to acquire remaining 40% stake in D2K Technologies for ₹32 crore

Rating agency Icra on Monday said it will acquire the remaining 40 per cent stake in D2K Technologies for Rs 32 crore. Pursuant to this, Icra Analytics will hold 100 per cent of the equity share capital of D2K Technologies on a fully diluted basis, Icra said in a regulatory filing. Icra Analytics is a wholly-owned subsidiary of Icra Ltd and provides services, solutions, analytics and digital platforms for risk management, mutual funds, fixed income, and knowledge services. Currently, Icra Analytics holds 60 per cent stake in the company, which is engaged in the business of providing banking and software services to banks, other financial institutions, and corporates, among others. Upon completion of the proposed acquisition, D2K Technologies will become a wholly-owned step-down subsidiary of Icra, it said. The acquisition is contingent upon the successful execution of the transaction by the depositories, it added.

Strides sells majority stake in Pivot Path to Ascent Capital-led consortium

Following the completion of the transaction, Pivot Path will be reclassified from a wholly owned subsidiary to an associate company of Strides

Strides Pharma to sell majority stake in Pivot Path for ₹100 crore

Strides Pharma Science Ltd on Saturday announced divestment of majority stake in its wholly-owned arm Pivot Path for Rs 100 crore to a consortium of investors led by Ascent Capital, along with co-investor Vintage. The board of directors of the company, at its meeting held on June 27, 2026, has approved a strategic investment by a consortium led by Ascent Capital, along with co-investor Vintage Classic, in its wholly owned subsidiary, Pivot Path Pvt Ltd (Pivot Path), Strides Pharma Science Ltd , said in a regulatory filing. The proposed transaction comprises the sale of the majority stake by Strides to Ascent Capital and Vintage Classic for an aggregate consideration of Rs 100 crore and the primary infusion of Rs 50 crore into Pivot Path by Ascent Capital to accelerate the next phase of growth, it added. Strides will receive Rs 75 crore at initial closing and Rs 25 crore on the first anniversary of closing, it added. After the transaction, Strides will hold a 19.95 per cent stake in

Kotak Bank's MD&CEO Ashok Vaswani to step down at end of Dec 2026

Vaswani has said he will not seek re-appointment, and is stepping down for personal reasons; the bank has initiated the process of appointing a new MD&CEO

Power Grid raises borrowing limit to ₹2.2 trillion, board approves plan

State-owned Power Grid Corporation on Friday said its board has approved the proposal to raise its borrowing limit to Rs 2.2 lakh crore from Rs 1.8 lakh crore. The board, in its meeting held on Friday, also approved the proposal of raising foreign currency funds through External Commercial Borrowings (ECB) up to USD five hundred million (USD 500 million) from Bank of Baroda, a regulatory filing stated. According to the regulatory filing, the board approved a proposal for the enhancement of borrowing limits from Rs 1,80,000 crore to Rs 2,20,000 crore, subject to the approval of the shareholders at the ensuing annual general meeting (AGM). The board also gave investment approval for 'Upgradation / Conversion of Udumalpet Madurai 400kV S/c line to Udumalpet Madurai 400kV (quad) D/c line' at an estimated cost of Rs 772.65 crore, scheduled to be implemented within 30 months from the date of allocation by August 11, 2028.

ITC's FMCG business clocks consumer spend of over ₹37,000 cr in FY26

ITC's non-cigarette FMCG portfolio crossed Rs 37,000 crore in annual consumer spend in FY26, driven by strong brand growth, acquisitions and rising household reach

Bajaj Auto to strengthen 125cc-plus bikes, turbocharge Chetak in FY27

Bajaj Auto Ltd will strengthen strategically important 125cc plus domestic motorcycle portfolio, while 'turbo charging' its electric scooter Chetak in FY27, amid a volatile, uncertain and complex external environment, Chairman Niraj R Bajaj said. The company will also look to boost exports given the recovery across key international markets, whilst navigating the challenges and disruptions in global logistics, Bajaj said in the company's annual report for 2025-26. "As we look ahead to FY27, the external environment remains volatile, uncertain and complex. Geopolitical developments, commodity inflation, supply chain disruptions and shifts in global trade dynamics are creating challenges in the operating environment that are particularly pronounced as we start the new financial year," he said. "The opportunities before us across markets and segments remain very significant and offer substantial headroom for growth," Bajaj said. India continues to be one of the world's fastest growing