Page 11 - Company News

Tata Motors Passenger Vehicles Q1 net profit plunges 78.54% to ₹859 cr

Tata Motors Passenger Vehicles on Thursday reported a 78.54 per cent decline in net profit to Rs 859 crore in the June quarter amid supply chain headwinds and persistent commodity pressure. The company had posted a net profit of Rs 4,003 crore in Q1FY26, according to a statement. Total revenue from operations for the reporting quarter, however, rose 9 per cent year-on-year to Rs 95,799 crore from Rs 87,677 crore in the first quarter of the preceding fiscal. During the quarter under review, JLR wholesales dropped 9.2 per cent year-on-year on account of temporary supply constraints, including a fire at a key component supplier, West Asia conflict and planned Jaguar wind-down, the company said. In addition to the impact of reduced volumes, JLR's YoY profitability was impacted as VMEs continued to remain elevated, partially offset by favourable structural costs. The domestic business delivered a strong revenue growth of 65 per cent YoY. However, elevated commodities and Forex moderate

China's Lenovo Q1 results: Revenue jumps 43% to $26.94 billion on AI boom

Lenovo's revenue rose to $26.94 billion in the three months ended June 30, beating analyst expectations of $22.3 billion, as the consumer electronics hardware giant benefited from AI demand

Honasa Consumer Q1 profit more than doubles to ₹90.4 cr, revenue up 27%

Honasa Consumer Ltd on Thursday reported a more than two-fold jump in consolidated net profit to Rs 90.45 crore for the June quarter of FY27, driven by growth in its core brands. The owner of beauty and personal care brands such as Mamaearth and The Derma Co, reported a net profit of Rs 41.32 crore in the April-June period a year ago, according to a regulatory filing. Honasa Consumer's revenue from operations increased 27 per cent year-on-year to Rs 755.94 crore in the June quarter of FY27, compared to Rs 595.25 crore in the corresponding period of FY26. Total expenses stood at Rs 659.27 crore, up 17 per cent YoY, in the quarter under review. Honasa Consumer's total income increased 25.73 per cent to Rs 778.45 crore. "We delivered our highest-ever quarterly revenue and profit, with Ebitda more than doubling to Rs 110 crore. What stands out for us is that this growth is coming from both our core and younger brands. Our Focus Categories grew 35%+, and we are seeing stronger demand .

1 in every 7 Swiggy food orders placed from 99 Store's curated offering

Launched in July 2025, 99 Store is a curated in-app offering that caters to value-conscious customers.

Tata Trusts to set up Selection Committee to pick Chandra's successor

The development follows Chandrasekaran's decision, communicated to the Tata Sons board on Wednesday, not to offer himself for another term as chairman.

Horizon Industrial Parks eyes next growth phase with ₹2,600 crore IPO

The Blackstone-backed industrial and logistics platform plans to use the fresh issue to reduce debt and support the development of its 33-million-square-foot pipeline.

Tata group hit by earnings slowdown, mcap decline in last two years

Tata companies' combined adjusted profit rose just 1.2% in FY26, while their combined market capitalisation fell 16.9%, underperforming the Nifty 50.

Chandrasekaran's exit brings 158-yr-old empire at a governance crossroads

While many business groups in India follow a trust structure, experts said it works as long as the promoter, the board and professional management are on the same page

Indel Money to raise up to ₹500 crore through public issue of NCDs

Indel Money, a non-deposit taking non-banking finance company, on Wednesday said it proposes to raise up to Rs 500 crore through public issue of non-convertible debentures (NCDs) of face value of Rs 1,000 each. The issue opens on August 18 and closes on August 31 with an option of early closure, subject to relevant approvals, Indel Money said in a statement. Investors may make one or more applications for the NCDs, subject to a minimum application size of Rs 10,000 across all series collectively and in multiples of Rs 1,000 thereafter, it said. The public issue comprises a base issue of Rs 250 crore, with an option to retain oversubscription of similar amount aggregating an overall issue size of up to Rs 500 crore. The net proceeds of the issue will be utilised for onward lending, financing or refinancing of existing debt and/or debt servicing, including payment of interest and/or repayment or prepayment of interest and principal of existing borrowings of the company, and for gener

Cellecor aims for Rs 2K crore revenue in FY27, says co-founder Ravi Agarwal

The company is expanding its home and kitchen appliances business and plans to begin production at its Liberia plant by December before widening exports across Africa

Julius Baer leases 74,037 sq ft office in Mumbai for India GCC operations

The Swiss private bank's India arm has taken the Andheri East property on a 60-month lease, with a total rental outgo of Rs 102.6 crore and annual escalation of 5 per cent.

Reliance Brands signs pact to launch Fabletics activewear brand in India

The global activewear label will debut online before opening stores in New Delhi and Mumbai, offering women's and men's ranges under its partnership with Reliance Brands.

Uber expands into 100 more Indian cities, deepens push beyond major metros

The bike-taxi-led rollout spans 18 states and one Union Territory, taking Uber to 225 cities as it challenges Rapido and Ola in India's fast-growing smaller markets.

Taiwan's Foxconn reports 35% rise in Q2 profit on AI demand, beats forecast

Foxconn expects its capital expenditure to continue growing and forecasts a 30 per cent increase in 2026 from a year earlier.

Grasim Q1 results: Profit jumps 39% to ₹3,846 cr, operating revenue up 21%

Grasim Industries Ltd on Wednesday reported 38.8 per cent rise in consolidated net profit at Rs 3,846.28 crore for June quarter FY27 driven by stronger operating performance across businesses. It had posted a net profit of Rs 2,770.63 crore for April-June FY26, according to a regulatory filing by Grasim Industries, a holding firm for Aditya Birla group companies such as UltraTech, Aditya Birla Capital and Aditya Birla Renewables. Revenue from operations of Grasim Industries was up 21.43 per cent to Rs 48,716.20 crore in June quarter FY27. Revenue growth was "driven by strong all-round performance across its diversified business portfolio. EBITDA was the highest-ever at Rs 8,077 crore, up 26 per cent YoY, driven by revenue-led growth and cost efficiencies across businesses," said Grasim in its earnings statement. Total expenses were 19.62 per cent higher in the June quarter to Rs 43,851.12 crore. Grasim's revenue from its Cellulosic Fibre business was up 12 per cent to Rs 4,530.25

Horizon Industrial Parks' ₹2,600 cr IPO to open Aug 17 at ₹57-60 price band

Blackstone-backed Horizon Industrial Parks Ltd will open its Rs 2,600 crore Initial Public Offering (IPO) for subscription on August 17, with the price band fixed at Rs 57-60 per share. At the upper price band, the IPO implies a post-issue market capitalisation of around Rs 17,298 crore. The three-day public issue will close on August 19, and anchor investor bidding will take place on August 14, according to a public announcement. The issue comprises entirely a fresh issue of equity shares aggregating up to Rs 2,600 crore, with no Offer For Sale (OFS) component. Of the IPO proceeds, the company plans to use Rs 2,250 crore to repay borrowings and the rest for general corporate purposes. As of March 2026, the firm had total borrowings of Rs 6,884 crore. Blackstone holds around 89 per cent stake in the company, as per the Red Herring Prospectus (RHP). Asheesh Mohta, Head of Real Estate India at Blackstone, said this also marks Blackstone's 15th IPO in the country, and 7th real esta

Vijay Singh steps down as vice-chairman of Sir Ratan Tata Trust

Tata Trusts vice-chairman Vijay Singh has stepped down as a trustee of Sir Ratan Tata Trust (SRTT) and has decided not to seek a renewal when his current term expires on August 14, people familiar with the matter said. Singh, a former defence secretary, will continue as a trustee of the Sir Dorabji Tata Trust (SDTT), the people said. Comments from Singh and Tata Trusts could not immediately be obtained. The development comes amid differences among SRTT trustees, with the trust barred by the Maharashtra State Charity Commissioner from holding meetings of its board pending an inquiry into alleged violations of norms governing the composition of its board. SRTT has approached the Charity Commissioner seeking removal of the restriction, citing its potential impact on the Trust's participation in Tata Sons' annual general meeting on August 18, sources said. The Tata Sons AGM assumes significance as it will consider a resolution on the reappointment of N Chandrasekaran as a director. Hi

Flipkart deepens Tamil Nadu partnership, expands digital commerce, tech

Flipkart on Tuesday said it is deepening its partnership with the Tamil Nadu government as the e-commerce major expands its digital commerce, technology infrastructure and supply-chain operations in the state, connecting manufacturing clusters and small businesses with customers across India. The company said nearly 70,000 sellers from Tamil Nadu are using its platform to access customers nationwide, with businesses ranging from Tiruppur's knitwear cluster and textile hubs in Erode and Salem to Kancheepuram's silk weavers and artisan communities in Thanjavur. Flipkart said its seller, supply-chain, technology and service ecosystem supports more than 1.3 lakh direct and indirect jobs across Tamil Nadu. Its supply-chain footprint in the state has expanded to more than 25 lakh square feet, helping businesses reach customers faster and strengthening infrastructure supporting digital commerce, the company said. Flipkart's dedicated seller growth teams in Tiruppur, Erode, Salem, and Chen

Vietnam's VinSpace inks deal with SpaceX to launch first satellites in 2027

Vietnamese aerospace company VinSpace said Tuesday it has signed a contract with SpaceX to send its first satellites into orbit aboard a SpaceX rideshare mission in 2027, as the Southeast Asian nation moves to develop its nascent space industry. VinSpace will launch its satellites on a SpaceX Transporter rideshare mission run by Elon Musk's company, which carries satellites from multiple customers on a single rocket to share launch costs, it said in a statement. The satellites, which VinSpace said it will develop and operate, will test the company's technology in orbit and support future commercial applications. VinSpace is part of Vietnam's Vingroup conglomerate and was established in November 2025. The company said in April that it planned to develop and launch its first satellites in 2027. Founded by tycoon Pham Nhat Vuong, Vingroup is Vietnam's largest privately owned company. It has a sprawling business empire that touches many aspects of daily life, from real estate and retai

Medium-term growth outlook remains healthy for Bharat Forge stock

Brokerages expect growth to strengthen in the second half of FY27, supported by defence order execution, recovery in Class-8 truck demand and domestic CV momentum