Page 17 - Company News

Ola Electric blames foreign rival for attacking its indigenous battery tech

Ola Electric on Sunday alleged that fear of losing market opportunities prompted foreign rival to attack its indigenous battery innovation of '4680 Bharat Cell', refuting reports of stealing technology from South Korea's LG Energy Solution. Reports from South Korea alleged that an unnamed former LG Energy Solution executive attempted to pass on pouch cell technology IPs to Ola Electric. An LG Energy Solution official was also quoted as confirming that the company had identified the situation early and alerted the country's authorities immediately. Terming the report as "misleading and completely baseless", Ola Electric said, "The old and dated pouch cell technology, which the report claims was leaked, is not even an area of research or commercial interest for Ola Electric. Our 4680 Bharat Cell is based on the most advanced dry electrode technology in a cylindrical form factor and surpasses the pouch cell touted in media leaks." Questioning the timing of the reports, at a time when .

5C Network ties up with German firm to expand AI-led radiology in Europe

5C Network, an AI-driven radiology platform, on Sunday announced that it has signed an MoU with German Medical Innovation Co Ltd, a modern medical centre based in Limassol, Cyprus. "This partnership marks a significant milestone in 5C Network's global expansion as it brings its Bionic SuiteIndia's most deployed AI-powered radiology solutionto the European market. PwC Cyprus acted as the facilitation agency for this partnership," Bengaluru-headquartered 5C Network said in a statement. According to the company, the collaboration will focus on deploying and clinically validating Bionic Vision and Bionic Voice, two of 5C's flagship AI technologies designed to streamline radiology workflows, improve diagnostic accuracy, and reduce turnaround times, before scaling the technology across Europe. Under the agreement, 5C Network and GMIC Cyprus will work together on research initiatives, pilot deployments, and clinical validation studies in Cyprus. The partnership will deploy and evaluate ..

Adani may pip Vedanta to emerge highest bidder for Jaiprakash Associates

Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta's bid to make payments in five years, sources said. In early September, mining conglomerate Vedanta Group had beaten Adani Group to emerge as the highest bidder, with an offer of Rs 12,505 crore as net present value (NPV), in an auction carried out by lenders to find suitors for JAL, whose interests span real estate, cement, power, hotels, and road. Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did not bid in the auction process. Later, the lenders held negotiations with these five players to enhance the bid value and maximise realisation. On October 14, these five bidders submitted fresh signed resolution plans in sealed envelopes. According to sources, the committee of creditors (CoC) of JAL met last week to deliberate on these comprehens

IndiGo to adopt evidence-based training to enhance pilot competencies

The country's largest airline IndiGo aims to implement evidence-based training programmes for its pilots, as part of its continuing efforts to enhance their competencies, including improved situational awareness, according to a senior official. IndiGo, which operates over 2,300 flights daily, is expanding its fleet by adding wide-body planes and currently has more than 5,300 pilots. Currently, Competency-Based Training and Assessment (CBTA) is implemented at the airline. "When you become CBTA-compliant, you eventually end up, once you mature, you become EBT-compliant," the senior airline official told PTI. EBT refers to Evidence-Based Training. "So right now, we are just baselining the CBTA. Now, with all the data we are going to use, and with the help of the world's best practices...or having consultants on board, we need to see how we can eventually reach the EBT stage," the official said. Various skills, enhanced situational awareness, decision-making, and corporate resource .

InCred Holdings submits draft prospectus to Sebi for upcoming IPO

InCred Holdings submits draft prospectus to Sebi for upcoming IPO launch

Salesforce to expand investments, operations in India, says Parameswaran

US-based IT firm Salesforce, which has witnessed multi-fold growth in its business and investment, will continue to invest and grow in India, as the country has the right set of talent pool available, its Executive Vice President and MD (South Asia) Arun Kumar Parameswaran said. Salesforce started operations in India in 2005 with its first centre of excellence in Hyderabad. Now, the company is spread to six locations in India with an annual revenue of USD 1 billion and a workforce of over 13,000. India is the second-biggest market for the company after the US. "We were about 2,500 in 2020...now, we have a headcount of over 13,000, over a five-fold jump...we will continue to invest and grow in India because the country has a lot of skills that everybody wants to hire," he told PTI in an interaction. Besides, he said the company has a proven track record of being able to deliver innovation at scale and speed. The global customer relationship management (CRM) technology solutions gian

Panasonic Chairman Manish Sharma steps down to pursue growth outside

Panasonic Life Solutions India Chairman Manish Sharma has resigned from the company after steering the appliance & consumer electronics product maker for over a decade. He has been instrumental in shaping Panasonic's business strategy, growth trajectory, and organisational culture in India, according to a company statement. Sharma will continue to support the organization during the transition period, while Tadashi Chiba, MD and CEO, Panasonic Life Solutions India continues to manage India business, it said. According to an industry insider, Sharma announced his decision to quit Panasonic during a company town hall. In that town hall, Head of Panasonic's appliances business globally, Masahiro Shinada, was also present. During his tenure, Panasonic became a prominent name in the fast-growing appliance market. In segments such as Room AC and LED TV, Panasonic becomes a visible competitor. Sharma has been a strong proponent of the "Make in India" initiative and has overseen the ...

Deepseek's Chen Deli makes first public appearance, warns of AI risks

The company has also emerged as a key player in China's efforts to build its own AI ecosystem and advance the domestic chip sector

Swiggy board okays plan to raise ₹10K cr via public, private offers

Swiggy's board has cleared a proposal to raise up to Rs 10,000 crore through QIP and other routes to fund growth in its quick commerce business and strengthen financial reserves

Nvidia has no plans to ship AI chips to China amid standoff: Jensen Huang

The 62-year-old founder has repeatedly said he'd like to do more business in China, but political tensions between the American and Chinese governments have derailed those ambitions

PWD to partner with Indian Oil for maintenance and upgrade of flyovers

The Public Works Department (PWD) is planning to partner with Indian Oil Corporation (IOC) to garner support for its CSR initiative 'adopt a flyover' project, sources said on Friday. Under the initiative, private firms can adopt public infrastructure, taking responsibility for its maintenance, beautification, and cleanliness, in return for limited advertising rights on the adopted structures. In July this year, a decision was taken in a high-level meeting chaired by PWD Minister Parvesh Verma to prepare large infrastructure proposals that align with the public-private partnership (PPP) framework and Corporate Social Responsibility (CSR) initiative. The shift in policy comes amid concerns over delays and cost overruns in previous public infrastructure projects due to funding limitations. One of those projects is the 'adopt a flyover' project, based on the PPP model for cleanliness and better care of road infrastructure, officials added. According to officials, a meeting was held ...

Birla Corporation Q2 net profit at ₹90.48 crore on higher cement sales

Birla Corporation posted a consolidated net profit of Rs 90.48 crore in Q2FY26, aided by improved performance in its cement and jute divisions, even as rainfall and price pressure weighed on margins

Interarch Building Q2 results: Profit rises 56% to ₹32 cr, revenue up 51%

Interarch Building Solutions Ltd on Friday reported a 56.11 per cent rise in profit to Rs 32.27 crore for the September quarter. The company had posted a profit of Rs 20.67 crore in the year-ago period. The total income of the company rose to Rs 497.09 crore over Rs 328.23 crore in the year-ago period. "This quarter has been transformational for Interarch as we continue to expand and strengthen our manufacturing footprint across India. The commissioning of Phase II at our Andhra Pradesh facility marks another key milestone, making it our fourth fully integrated PEB plant and taking our total installed capacity to 2,00,000 MT," the company's Managing Director Arvind Nanda said. "The groundbreaking of our Gujarat facility marks another major step in our journey. Located in a state renowned for its world-class infrastructure and thriving semiconductor, EV, and allied industry clusters, this new plant will play a pivotal role in our next phase of capacity expansion and market reach," .

Goldman Sachs promotes 49 people from India as managing directors

Goldman Sachs has promoted a record 49 executives from India as managing directors, reflecting the growing importance of its Bengaluru technology hub in the firm's global structure.

Bajaj Auto plans KTM turnaround with India production shift, job cuts

Bajaj Auto, which is set to take majority control of KTM AG, is looking at various options, including moving more production to India and job cuts as part of plans to reduce costs at the financially troubled Austrian bike maker, a senior company official said on Friday. The Pune-based two and three-wheeler maker is expected to get required regulatory approvals and gain majority control over KTM AG by mid-November, Bajaj Auto Executive Director Rakesh Sharma told reporters in a Q2 earnings call. "We have made an application for taking majority control over KTM AG, and we have submitted our application. There are some nine approvals which are needed from various commissions in Europe, and eight of them have been secured," he said. He further said, "The ninth one should also be through, hopefully by mid-November, which is when the turnaround can start, to be very actively led and directed by us." Responding to a query on whether it made sense for KTM to continue manufacturing operatio

NTPC Green Energy to raise ₹1,500 crore via NCD issue on November 11

NTPC Green Energy on Friday said it will raise Rs 1,500 crore through issuance of unsecured non-convertible debentures on November 11, 2025 on private placement basis. Proceeds shall be utilised for, inter alia, financing capital expenditure, including refinancing and recoupment of capital expenditure already incurred by the company, as well as for extending such financing for capital expenditure to its subsidiaries and joint ventures through inter-corporate loans, and for other general corporate purposes, the company said in a regulatory filing. According to the filing, NTPC Green Energy Ltd has decided to issue unsecured non-convertible debentures of Rs 1,500 crore on November 11, 2025, through private placement at a coupon of 7.01 per cent per annum for a tenor of 10 years 1 day, maturing on November 12, 2035, under the board resolution dated April 29, 2025. This is the first issue of debentures under the mentioned approval. The debentures are proposed to be listed on NSE.

Adani Power won Bihar's 2,400 MW Bhagalpur project with lowest bid

The Bihar government awarded the 2,400 MW Bhagalpur (Pirpainti) power project to Adani Power Ltd after a competitive bidding process in which the Ahmedabad-based company quoted a lower electricity tariff than three other bidders, including Torrent Power and JSW Energy, sources said. The Bihar government had floated an open tender for the Bhagalpur project to meet the state's electricity demand, projected to double to over 17,000 MW by 2034-35. Four qualified bidders participated in the tender, with Adani Power quoting the lowest electricity tariff of Rs 6.075 per kWh (or per unit), sources with direct knowledge of the bidding process said. Adani Power emerged as the lowest bidder (L1) with a tariff of Rs 6.075 per kWh, comprising a fixed charge of Rs 4.165 and a fuel charge of Rs 1.91 per unit. The state government described the tariff as "highly competitive", noting that similar recent bids in Madhya Pradesh quoted higher fixed charges. Torrent Power was the second lowest bidder

Welspun Enterprises bags ₹3,145 crore order for Panjrapur water plant

Welspun Enterprises Ltd (WEL) on Friday said it has secured a new order worth Rs 3,145 crore to design, build and operate 910 MLD water treatment plant at Panjrapur, Maharashtra. Welspun Enterprises in a statement said the plant will significantly strengthen Mumbai's water supply network by leveraging advanced technologies to ensure efficient and sustainable operations. WEL said it has partnered with Veolia, a global leader in water management technologies, as its technology provider for this project. "The project valued at Rs 3,145 crore includes comprehensive civil, mechanical, electrical and instrumentation works, along with the construction of a treated water sump and pumping station," it said. According to the statement, the total contract value includes an operation and maintenance component of Rs 1,156 crore and excludes a provisional sum of Rs 29 crore. The design-build phase is scheduled for completion within 48 months, following which WEL will operate and maintain the ..

Nalco Q2 results: Net profit rises 37% to ₹1,430 crore, revenue up 7%

State-owned National Aluminium Company Ltd (Nalco) on Friday reported a 36.7 per cent rise in consolidated profit to Rs 1,429.94 crore in the quarter ended September 30, 2025. The company had posted a consolidated profit of Rs 1,045.97 crore in the year-ago period. The consolidated revenue from operations during the July-September period rose to Rs 4,292.34 crore against Rs 4,001.48 crore in the year-ago period. Nalco has lined up an investment of Rs 30,000 crore to set up a new aluminium smelter and a coal-based power plant over the next five years. Of this, Rs 18,000 crore has been earmarked for the smelter and Rs 12,000 crore will be spent on the thermal power plant. Nalco also plans to be a Maharatna firm in another five years. Nalco, a 'Navratna' company, is one of the country's largest bauxite, alumina, aluminium and power complex. Currently, the government owns 51.28 per cent stake in the PSU.

Nykaa Q2 results: Profit jumps to ₹34 crore, revenue grows 25%

FSN E-Commerce, the parent company of fashion and beauty retailer Nykaa, on Friday reported a multifold growth in consolidated net profit to Rs 34.4 crore in the September quarter. The company had posted a net profit (attributable to equity shareholders of the parent company) of Rs 10.04 crore in the year-ago period. Nykaa's revenue from operations rose 25.13 per cent to Rs 2,345.98 crore in Q2, FY26, as compared to Rs 1,874.74 crore in the year-ago period, according to regulatory filings by the company. Seen quarter-on-quarter, Nykaa's profit and revenue increased 47.64 per cent and 8.86 per cent, respectively. Nykaa's consolidated GMV (gross merchandise value) grew 30 per cent year-on-year to Rs 4,744 crore. Nykaa Founder and CEO Falguni Nayar said Q2's performance reflects accelerated growth momentum across categories. "The beauty business continues to deliver consistently, achieving over 25 per cent GMV growth for several consecutive quarters. This quarter saw accelerated bran