Page 17 - Company News

Over 400K KitKat bars stolen en route from Italy to Poland, says Nestle

Swiss food giant Nestle says about 12 tons, or 413,793 candy bars, of its KitKat chocolate brand were stolen after leaving its production site in Italy earlier this week for Poland. The company, based in Vevey, Switzerland, said in a statement on Friday that "the vehicle and its load are still nowhere to be found". The shipment of the crunchy bars, made of waffles covered with chocolate, disappeared last week while en route between production and distribution locations. The chocolate bars were to be distributed throughout Europe. The missing candy bars could enter unofficial sales channels across European markets, the company said, but if this does happen, all products can be traced using the unique batch code assigned to individual bars. A spokesperson for KitKat said that as a result, consumers, retailers and wholesalers would be able to identify if a product is part of the stolen shipment by scanning the on-pack batch numbers. If a match is found, the scanner will be given clea

West Asia crisis hits LPG supply across parts of Jubilant's network

Jubilant FoodWorks Ltd on Saturday said supply of LPG cylinders to certain parts of its store network has been constrained due to the geopolitical situation in West Asia. The company, which operates fast-food chains, including Domino's Pizza and Dunkin' Donuts, said it is taking several steps to conserve LPG and working overtime to move to alternate energy sources like electricity and piped natural gas (PNG). "...we wish to inform that due to the ongoing geopolitical situation in the Middle East, there are supply constraints on the distribution of commercial LPG across the country," Jubilant FoodWorks Ltd (JFL) said in a regulatory filing. Consequently, JFL said, "The supply of LPG cylinders to certain parts of the company's store network has been constrained." Operational impact at this stage is limited and being actively managed, it added. The company further said it is "taking several steps to conserve LPG and working overtime to move to alternate energy sources like electricity

India's growth driven by human capital, digital progress: ICICI Bank CEO

ICICI Bank CEO Sandeep Bakhshi on Saturday said India's strong growth has been driven by human capital and digital progress. Bakhshi said this at the 70th Annual Convocation ceremony of XLRI here. The ICICI Bank CEO was conferred with the prestigious Sir Jehangir Ghandy Medal for Industrial and Social Peace, XLRI's highest honour, recognising outstanding contributions to industry and society. Addressing the gathering, Bakhshi highlighted India's strong growth driven by human capital and digital progress. He urged graduates to embrace continuous learning, stay resilient and focus on excellence over comparison. Emphasising humility, compassion and 'seva bhav', he called upon students to lead with purpose while upholding XLRI's values. Tata Steel CEO & MD T V Narendran, who is also the Chairman, Board of Governors, XLRI Jamshedpur, highlighted that graduation marks a pivotal transition where future outcomes will be shaped by individual choices and values. He underscored the growing

Table Space leases 1.45 lakh sq feet commercial space in Gurugram

According to transaction documents accessed by Propstack, the company will pay rent for a chargeable area of 145,181 square feet, putting the monthly rent rate at ₹185 per square foot

Fortis Healthcare arm receives ₹117 crore income tax demand, weighs appeal

Fortis Healthcare Ltd on Saturday said its arm Fortis Hospitals Ltd has received a demand notice of Rs 117.04 crore from the income tax authority. Fortis Hospitals Ltd is in receipt of an income tax order dated March 27, 2026, for AY 2024-25 and a demand of Rs 117.04 crore has been raised, it said in a regulatory filing. The company is evaluating all options, including filing an appeal and rectification application against the said order, it added.

Maersk halts operations at Oman's Salalah port due to security incident

All Maersk crew were safe and accounted for, and no company cargo or vessels were affected, the shipping giant said in a statement

Sports logistics movement adapting to global volatility: DP World's Ruia

The firm is expanding its presence in golf and formula 1 after being global logistics partner to International Cricket Council

JSW Motors partners Dassault to accelerate EV design and manufacturing

JSW Motors has partnered Dassault Systemes to deploy a digital platform to accelerate EV design, engineering and manufacturing as part of its broader automotive push

UltraTech settles dispute with Jaiprakash over Dalla Super unit and mines

Leading cement maker UltraTech Cement on Thursday said it has settled with Jaiprakash Associates Ltd (JAL) in the ongoing arbitration over the Dalla Super unit and associated mines. In a regulatory filing, UltraTech Cements said it will redeem 1,00,000 Series A Preference Shares of face value Rs 1,00,000 each totalling Rs 1,000 crore. This settlement will also help in monetisation of the assets of JAL in its ongoing Corporate Insolvency Resolution Process (CIRP), in which rival Adani Group has emerged as the successful resolution applicant (bidder). With this, a long-standing dispute between UltraTech and debt-ridden JAL, which is currently going through insolvency resolution, has come to an end. "Subsequent to the Parties reaching a settlement in respect of the arbitration and the Arbitral Tribunal passing a final award today viz. 26th March, 2026, all rights and interests in the Dalla Super unit and mines have fully vested in the company, and all claims/proceeds and liabilities .

Sunita Maheshwari reappointed independent director at HDFC Bank

HDFC Bank has reappointed Sunita Maheshwari as an independent director for three years, subject to shareholder approval, strengthening its board composition

EESL plans fresh tenders for 500K induction cookstoves in two phases

State-owned Energy Efficiency Services Ltd (EESL) is planning new tenders to procure half a million induction cookstoves in two phases to meet the rising demand for e-cooking appliances, official sources said on Thursday. This move assumes significance in view of the West Asia crisis, which has hit LPG and the country's natural gas supplies. EESL has recently awarded a tender for one lakh induction cookstoves to cater to the rising demand and has also conducted the tender for induction-compatible utensils, after initial feedback from various state governments and customers, the official sources said. "Looking at the overwhelming response of demand in the current market, EESL plans to float a fresh tender of over half a million pieces after consuming the current vendor's quantity," the sources told PTI. EESL had launched the National Electric Cooking Program (NECP) in 2023. Recently, there has been a sharp spike in electric induction stove prices due to surging demand amid an LPG .

RIL denies reports of company buying Iranian crude supplies

Earlier this week, a Reuters report said Reliance had purchased over 5 million barrels of Iranian crude from the National Iranian Oil Company, though delivery timelines remained unclear

AM/NS India CEO Dilip Oommen to retire; Amit Harlalka named successor

AM/NS India CEO Dilip Oommen will retire on June 30 after 22 years with the company. CFO Amit Harlalka will take charge from July 1, marking a leadership transition at the steelmaker

Thyssenkrupp, Jindal Steel sale talks falter on pension and energy costs

The companies could decide to officially stop negotiations as soon as next month, one of the people said

Sebi begins review of former HDFC Bank chairman Chakraborty's exit letter

In his resignation letter, Chakraborty cited "certain happenings and practices within the bank" that he said were "not in congruence" with his personal values and ethics

Infosys acquires Optimum for $465 mn to deepen healthcare, AI capabilities

Deal strengthens Infosys' healthcare vertical and AI-led capabilities, adding clients, talent and consulting expertise in provider segment

'India can test AI with a billion people, be a gateway to Global South'

Indian diaspora has moved up the management and investment stack with every technology cycle. AI, says MR Rangaswami, is no different - but the disruption this time will spare no one, not even doctors

India start-ups raise $9.1 billion funding as focus shifts to execution

Selective capital is backing scalable ventures, while AI-led DeepTech gains momentum as investors prioritise proven models, monetisation, and commercial readiness

NDR InvIT raises ₹410 crore via bonds to expand warehousing portfolio

NDR InvIT Trust on Wednesday announced raising Rs 410 crore through the issuance of bonds primarily for the acquisition of logistics and warehousing portfolio across key markets in the country. The issuance was anchored by the International Finance Corporation (IFC), with participation from India Infrastructure Finance Company Limited (IIFCL), which subscribed to Rs 205 crore of the total issue, NDR InviT said. The bonds are secured, rated, listed, redeemable non-convertible debentures with a tenor of 5-years and carry a coupon of 7.61 per cent. "NDR InviT announces the successful closure of its Rs 410 crore bond issuance, which was fully subscribed, reflecting strong investor demand for high-quality infrastructure-backed assets," the company said. The issuance is rated AAA (Stable) by leading rating agencies, indicating a high degree of safety regarding timely servicing of financial obligations, the company said, adding the strong participation from marquee institutional investors

MUFG's $4.4 billion investment in Shriram Finance wins CCI approval

Japanese lender to acquire 20% stake in NBFC via preferential allotment, marking one of the largest FDI deals in India's financial services sector