Company News

Dream11 pulls from fantasy games to build global sports engagement platform

Dream11 on Thursday said it has moved away from pure-play fantasy sports to building a global sports engagement platform. Dream11 was India's biggest fantasy game company before the government imposed a blanket ban on the category a year ago. "Dream11 today completes its pivot away from pure-play fantasy sports to becoming a global sports engagement platform. It has discontinued all prizes to focus only on sports content, live streaming, stats, scores, commentary, community, experiences, and social contests," the company said in a statement. The statement said Dream11 will be transitioning to an AI-first platform, building a highly personalised experience for users based only on their favourite sports, leagues, teams and players. The platform will also be multi-sport, addressing a global gap and positioning itself as a single destination for sports fans worldwide, the statement said.

Google eyes first phase of Vizag AI hub by 2028, full operations in 5 years

Google expects the first phase of its 1 GW Visakhapatnam AI data centre to be operational by late 2028 and aims to complete all phases over the next five years

US probes Singapore-based Apex Logistics over alleged Nvidia chip smuggling

Authorities are looking into whether Apex - a unit of shipping giant Kuehne+Nagel - may have transported AI systems made by Super Micro Computer Inc. in violation of US export restrictions

Prudential to sell 2% in India asset manager to meet regulatory threshold

Prudential Corporation Holdings Ltd., a subsidiary of the UK-based insurer, will offload 9.9 million shares in ICICI Prudential Asset Management Co. on Aug. 27

Adani Group-backed Cemindia reportedly close to $524 million share sale

The company's board on July 23 approved raising as much as 50 billion rupees through the issuance of equity shares via a qualified institutional placement.

Planet Scuba launches iNDiC to build diving systems, eyes global market

The company said iNDiC was initially shaped around the operational requirements of the Indian Armed Forces but has been designed for a wider international market

boAt FY26 net profit rises 38% to ₹84.5 crore, wearables turn profitable

Consumer electronics brand boAt on Wednesday reported a 38 per cent growth in its profit after tax at Rs 84.5 crore in the financial year 2025-26. The company, owned by Imagine Marketing Limited, had posted a PAT (profit after tax) of Rs 61.1 crore in the preceding fiscal year. The company's revenue from operations stood at Rs 2,931 crore in FY26, boAT said in a statement. The company's wearables business turned profitable during the year. The segment recorded a profit of about Rs 7 crore in FY26, compared to a loss of Rs 54 crore in FY25. "FY26 was about strengthening the foundations of boAt while navigating a challenging external environment... We closed the year with approximately Rs 397 crore of cash reserves and zero bank debt... improvement is visible across the business...newer categories are beginning to emerge as meaningful growth and profit pools. "Our focus now shifts from turnaround to growth. With a stronger balance sheet, tighter operating discipline and a healthy co

Wipro adds AI agent to personalise skilling for over 240,000 associates

Wipro has added an AI agent to its skilling platform for over 240,000 associates, with personalised course recommendations based on roles, skills and past learning

China robot maker Unitree's post-listing slump sparks bubble fears

Unitree shares steadied on Tuesday after three consecutive days of decline that took their losses to 45% since their debut last Wednesday.

Varun Beverages enters alcohol business, appoints ex-Diageo executive

Varun Beverages is entering the alcoholic drinks market, setting up a wholly owned subsidiary and appointing former Diageo executive Prathmesh Mishra as its CEO and MD

Institutional buyers oversubscribe Hindustan Copper OFS with ₹4,600 cr bids

Institutional investors on Tuesday oversubscribed Hindustan Copper share sale by putting in bids worth over Rs 4,600 crore. As against the 2.61 crore shares reserved for them, institutional investors put in bids for over 8.91 crore shares, oversubscribing the issue 3.41 times. At an indicative price of Rs 520.35 per share, the bids are valued at over Rs 4,600 crore. The government is selling over 5.80 crore shares or up to 6 per cent (including 3 per cent green shoe option) stake in Hindustan Copper through a two-day Offer-for-Sale (OFS) at a floor price of Rs 514 apiece. The OFS willl open for retail buyers on Wednesday. The floor price was set at a 10.38 per cent discount over Monday's closing share price. "The government has decided to exercise the entire green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on X. On Tuesday, Hindustan Copper shares fell 7.04 per cent to Rs 533.20 apiece on BSE. The government currently

Air India seeks $1.5 bn from owners Tata, Singapore Air as losses mount

The carrier and its budget unit Air India Express posted combined losses of $2.33 billion in the fiscal year ended March, more than double the prior year's losses

Flender expands India wind footprint with new Chennai generator plant

The Winergy facility will expand generator manufacturing, deepen localisation and strengthen Flender's supply-chain capabilities for India's growing wind energy market

Airtel Payments Bank Q1 net profit jumps 82% to ₹19 cr, revenue at ₹831 cr

Airtel Payments Bank on Monday reported an 82 per cent rise in net profit to Rs 19 crore for the first quarter ended in June, driven by good operating performance. The bank had earned a profit of Rs 10.4 crore in the April-June quarter of the previous financial year. The bank's revenue increased to Rs 831 crore from Rs 777 crore in the corresponding quarter last financial year, Airtel Payments Bank said in a statement. During the quarter, Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) rose by 21 per cent to Rs 108 crore from Rs 82 crore in the same period a year ago. At the same time, customer balances grew by 17 per cent to Rs 4,389 crore from Rs 3,743 crore in the first quarter of last fiscal.

L&T signs over ₹15,000 crore gas compression contract in West Asia

The project involves engineering, procurement and construction of gas compression plants, including compression systems and associated utilities

Fino Payments Bank board extends tenure of interim CEO by another 3 months

Fino Payments Bank on Monday said its board has approved the extension of tenure of Ketan Merchant as interim CEO for a period of three months effective from August 27, 2026. The decision of Nomination & Remuneration Committee of the board is subject to approval of Reserve Bank of India (RBI), the bank said in a regulatory filing. RBI had last extended tenure of Merchant for a further period of three months with effect from May 27, 2026. Merchant was appointed interim CEO following the arrest of its managing director and CEO Rishi Gupta for violating laws related to the Goods and Services Tax in February. Directorate General of GST Intelligence (DGGI) arrested Gupta for alleged use of shell companies and payment aggregators to funnel illicit funds generated by online money gaming. Prior to appointment as interim CEO, Merchant was serving as Chief Financial Officer of the bank.

Resona Bank deepens Tata Capital ties for India play after ₹20 mn fund bet

Japan's Resona Bank on Monday announced a tie-up with Tata Capital to provide its clients better access to financing solutions and opportunities in India using the non-bank lender's local network. The announcement follows a USD 20 million investment by Resona Bank as a limited partner in Tata Capital Growth Fund III LP, which invests in Tata Capital Growth Fund III, a fund managed by Tata Capital, as per an official statement. However, the Japanese lender did not reveal the timeline of this investment. Under a memorandum of understanding (MoU) announced on Monday, both Tata Capital and Resona Bank will leverage their respective strengths in the Indian market, it said, adding that this is a non-exclusive collaboration under which opportunities will be explored through Tata Capital's network. The Japanese partner will leverage the Indian partner's local presence and expertise in financial services to provide support for its customers evaluating opportunities in India, the statement ..

US-based Vertex Group to enter India's MICE, corporate travel space segment

US-headquartered Vertex Group is foraying into the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment in India with Vertex Travel, Vertex Group Founder & President Gagan Arora said on Monday. The Group is committing an initial investment of Rs 75 crore for developing an integrated business travel and MICE platform which will primarily be deployed across three areas -- technology, talent and network development -- over the next 18 months. "We will evaluate client acquisition, repeat business, revenue quality, programme profitability, customer satisfaction, technology adoption and the scalability of the operating model. If the business demonstrates the performance and market traction we expect, we are prepared to increase investment as Vertex Travel scales," Arora told PTI in an interview. He shared that the immediate focus is on establishing strong positions in priority segments, building a high-quality enterprise client portfolio and creating repeatable business ...

India becomes Sophos' top growth market after 60% jump in FY26 business

Global cybersecurity major Sophos has recorded a 60 per cent growth in its India business in the last financial year, outperforming the broader domestic market growth by four times, a top company executive said. India is now the largest contributor to the company's Asia-Pacific and Japan (APJ) operations and is currently the number one growth region for Sophos globally. "The cybersecurity market in India is growing at approximately 15 per cent. In the last financial year (FY26), we grew at 60 per cent, which means we are growing at four times the market (rate)," Gavin Struthers, Senior Vice President Asia-Pacific & Japan, Sophos, told PTI in an interaction. Struthers attributed this "phenomenal achievement" to the rising awareness of the importance of cyber resilience and increased regulatory focus, including the Digital Personal Data Protection (DPDP) Act. The company currently employs over 1,500 people in India, making it the largest employee base for Sophos across all ...

Starbucks India to accelerate store expansion after business recalibration

Starbucks India is set to resume its aggressive store expansion strategy following nearly two years of recalibrating its business model amid a broader slowdown in discretionary spending, Tata Consumer Products Managing Director and CEO Sunil D'Souza has said. Starbucks, which operates in India through JV partner Tata Consumer Products Ltd (TCPL), used the last 18-24 months as an "opportunity to recalibrate" its entire business model -- from store size and capital expenditure per outlet to the pricing of beverages, he told PTI. According to D'Souza, things have "started to fall into place" as Tata Starbucks has now reported four successive quarters of same-store sales growth. "We had four successive quarters of same-store sales growth now, and we are seeing acceleration coming in. Now, we will again start to expand the number of stores aggressively," he said. TCPL has a 50:50 JV with US-based Starbucks Corporation -- Tata Starbucks -- which operates around 500 Starbucks cafes in ...