Page 13 - Company News

HDFC Bank 'a strong institution with strong fundamentals': FinMin official

A day after HDFC Bank Chairman Atanu Chakraborty resigned on ethical concerns, a top Finance Ministry official on Thursday said the bank is a "strong institution with strong fundamentals". Financial Services Secretary M Nagaraju said the Reserve Bank of India (RBI) has already issued a statement in this regard. "HDFC Bank is a strong institution with strong fundamentals," he told reporters. The remarks come after the sudden exit of Chakraborty as chairman of HDFC Bank -- the country's second-biggest lender -- effective March 18, 2026, citing ethical concerns. This is the first time that a part-time chairman of HDFC Bank has left mid-way, raising concerns over its functioning. Earlier in the day, the Reserve Bank said there were no material concerns on record as regards the bank's conduct or governance. "HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, a professionally run board and a competent management team. Based on our periodical assessment, t

West Asia crisis: CIL assures steady coal supply, stocks for consumers

The government on Thursday asserted that India's domestic coal production is steadily matching consumer demands, with state-owned Coal India Ltd (CIL) implementing robust measures to secure uninterrupted dry fuel for all sectors, amid escalating tensions in West Asia. As a proactive step, CIL, which accounts for over 80 per cent of domestic coal output, has planned 29 e-auctions in the current month, offering about 23.56 million tonnes (MT) of coal. "Out of these 29 auctions, 5 auctions have already been conducted since March 12, 2026, wherein 73.1 lakh tonnes of coal were offered, and 31.96 lakh tonnes of coal have been booked, indicating adequacy of coal offered in the e-auctions," the coal ministry said in a statement. In addition to this, CIL has also taken necessary action to ensure coal availability to the small, medium and other consumers through the State Nominated Agencies (SNAs) route and requested the State governments to provide the additional coal requirement, which can

Prudential may exit life insurance joint venture with ICICI Bank

In talks with BhartiAxa for possible stake buy

Atanu Chakraborty quits as HDFC Bank chairman; Mistry named interim chief

"Certain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal values and ethics", says Chakraborty

AM/NS Andhra project to kick off; ₹1.5 trillion investment on cards

State managed to put project on track within 15 months with all required nods

PhysicsWallah gets ₹263 crore tax notice, says will challenge order

Edtech firm Physicswallah has received an income tax demand notice of Rs 263.34 crore for the assessment year 2023-24. The demand was raised after the Income Tax Department treated investments received by the company from investors during the period, including funds from SEBI-registered Category II Alternative Investment Funds (AIF), as taxable income, Physicswallah said in a regulatory filing. The company plans to challenge the assessment order. "Based on its preliminary assessment, the company believes that it has strong legal and factual grounds to file an appeal before the appropriate appellate authority," Physicswallah said. PhysicsWallah posted about a 33 per cent increase in consolidated profit to Rs 102.27 crore in the December quarter. Its revenue from operations also grew about 33 per cent to Rs 1,082.41 crore during the quarter from Rs 809.67 crore a year earlier. Shares of Physicswallah settled 7.87 per cent higher at Rs 86.81 crore on the BSE on Wednesday. The statut

Adani University, IIT Mandi sign MoU for joint research, student exchange

Five-year agreement to enable joint research, student and faculty exchange, and academic programmes across institutions

Amritanshu Khaitan quits McLeod Russel board citing personal reasons

Promoter family member resigns as non-executive director citing personal reasons, amid efforts to streamline roles within the Khaitan group

Cube Highways files ₹5,000 cr OFS to convert into India's 1st public InvIT

Trust seeks to broaden investor base and improve liquidity through OFS as it transitions from a privately listed InvIT to a publicly listed structure

West Asia conflict sends Indian startups into wait-and-watch mode

Indian startups are turning cautious on expansion and investments in West Asia amid the ongoing conflict, with fintech and travel sectors seeing early stress while edtech remains relatively stable

Company, customers, and professionals can all win: Pronto's Anjali Sardana

Pronto's 23-year-old founder says daily bookings have grown 18-fold in seven months, as the startup targets 70,000 bookings a day by June

ReNew Energy set to secure $800 million refinancing loan this year

The five-year facility will be priced at about 185 basis points over the benchmark Secured Overnight Financing Rate, the people said. Final terms may change

BlackSoil Capital raises ₹200 crore from Danish DFI Impact Fund Denmark

Funds will support climate-aligned lending and expand credit access in Tier-II and Tier-III markets, with a focus on women-led businesses and underserved sectors

Licious focuses on micro-markets to scale growth, expand dark stores

Licious is focusing on micro-markets within cities to drive growth, planning to scale dark stores and deepen presence in high-demand neighbourhoods

Apple overshoots iPhone production target under PLI scheme by 80%

Based on preliminary estimates with the government, the production value in FY26 is estimated to hit ₹227,000 cr, which is an increase of more than 24% over the previous financial year's ₹183,000 cr

₹1.65 trillion investment seen in India's transmission infra: Godrej

India's transmission infrastructure may see Rs 1.65 lakh crore investments over three years, creating significant EPC opportunities across substations, railways and renewables

Maruti Suzuki gets ₹5,786 crore income tax order, says will appeal it

Maruti Suzuki India (MSI) on Tuesday said it has received a draft assessment order worth Rs 5,786.4 crore from the income tax authority and the company will challenge the order. "The company has received a Draft Assessment Order for FY 2022 23 wherein certain additions / disallowances amounting to Rs 57,864 million with respect to returned income has been proposed," the carmaker said in a BSE filing. MSI will file its objections before the dispute resolution panel, it stated. There is no impact on financial, operation or other activities of the company due to this order, it added. Maruti Suzuki shares settled at Rs 12,993.55 apiece, up 1.88 per cent on BSE.

Ather Energy doubles service network to 500 centres across India

Ather Energy expands its service network to 500 centres across India, nearly doubling capacity to support growing EV adoption and strengthen after-sales service infrastructure

Lupin, Zydus partner to co-market semaglutide injection in India

Lupin and Zydus Lifesciences enter a licensing pact to co-market semaglutide injection in India, aiming to improve access to therapies for diabetes and obesity

New Renault Duster launched in India; prices start at ₹10.49 lakh

Renault India launches the all-new Duster with turbo petrol and hybrid options, advanced features, and introductory pricing, targeting strong demand in the competitive SUV segment