Page 18 - Company News

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

OpenAI taps JioStar CEO Kiran Mani to lead Asia Pacific operations

Former JioStar executive to drive regional growth as OpenAI expands global footprint and deepens presence across key Asia-Pacific markets

BBC names former Google executive Matt Brittin as new director-general

Former Google executive Matt Brittin will be the new director-general of the BBC, the broadcaster announced Wednesday, taking the helm as the UK's national broadcaster faces an uncertain future and a USD 10 billion lawsuit from US President Donald Trump. Brittin, 57, spent almost two decades at Google, becoming the company's president in Europe, the Middle East, and Africa. He does not have a background in broadcasting. He said the 104-year-old BBC is "an extraordinary, uniquely British asset." "Now, more than ever, we need a thriving BBC that works for everyone in a complex, uncertain and fast changing world," he said in a statement. Brittin will start the job on May 18. He replaces Tim Davie, who resigned in November over criticism of how the broadcaster edited a speech Trump made on January 6, 2021, before some of the president's supporters stormed the US Capitol. A documentary aired days before the 2024 presidential election spliced together three quotes from the speech into w

Network18 appoints Raj Jain as independent director for five years

Former Times Group CEO joins Network18 board as additional independent director, bringing multi-platform media leadership experience

Daily AMC repo volumes rise sharply in FY26, expected to double in FY27

Triparty repo platform operator AMC Repo Clearing has witnessed a sharp surge in daily trading volumes in FY26, and it is expected to double in 2026-27, a top official has said. The average daily volume in the market, which is majorly used by primary dealers and corporate treasuries for raising funds against their corporate bond investments, surged to up to Rs 7,000 crore a day in FY26, from a level of up to Rs 2,000 crore a day in FY25. Kashinath Katakdhond, Managing Director at the platform, said the daily volume is expected to surge to Rs 10,000-15,000 crore a day in the upcoming fiscal year, driven by a widening user base. "The increase in traded volume this fiscal year is due to more participants coming in, new participants getting activated, and a constant spread between CCIL TREPS and the ARCL triparty repo market," he told PTI. He added that market participants are increasingly leveraging their corporate bond portfolios to meet short-term funding needs, particularly amid ..

Tredence eyes Europe, GCC expansion to reduce US revenue dependence

The data analytics and AI firm is focusing on Europe and GCC markets, expanding beyond retail CPG and the US, while building partnerships and AI-led capabilities to drive growth

Sony Honda Mobility cancels EV development project, to refund early buyers

Sony Honda will issue full refunds to those who have made reservations for what was to be its first model, the Afeela 1, in California

OnePlus India CEO Robin Liu resigns to pursue 'personal passions'

The CEO of Chinese mobile device maker OnePlus India, Robin Liu, has stepped down, the firm said on Tuesday. The development comes as the company works to recover from the ongoing decline in shipments. "We thank Robin for his contributions to OnePlus India. He moves on to pursue his personal passions, and we wish him the very best for his future endeavours. OnePlus India operations continue with local strategy and business continuity ensured," the company said. Under Liu, OnePlus recorded a 32 per cent decline in shipments in 2025, according to Cybermedia Research. IDC estimates a 38.8 per cent decline in the company's shipments in 2025 on a YoY basis. The smartphone market looks challenging in 2025 as research firm IDC has projected that the overall volume shipment in the segment is expected to decline this year due to a shortage of memory chips globally. CyberMedia Research (CMR), VP-Industry Research Group, Prabhu Ram said Liu's departure from OnePlus India arrives amidst susta

Infosys nears a leadership transition as AI rapidly rewires industry

Extend CEO tenure, recast roles, or name a successor - the 2027 call will shape the next decade