Page 2 - Company News

HDFC Bank's board approves two names for MD&CEO, sends shortlist to RBI

The bank did not disclose the shortlisted candidates; also, the board inducted Jimmy Tata as executive diretor and said it would add one whole time director position as part of its succession planning

Coforge NRC chair resigns citing differences, tension between directors

In another major boardroom fallout at Coforge, its non-executive independent director and Nomination and Remuneration Committee Chairperson D K Singh has resigned, alleging "differences and tension" between independent and executive directors. The IT services firm, however, refuted Singh's claims as "unfounded" and an "afterthought", saying his resignation followed an internal audit review that flagged governance lapses in how he and former Chairman O P Bhatt handled a board evaluation exercise. The development comes just days after Bhatt abruptly stepped down as Chairman of Coforge following the internal audit's findings that he and Singh withheld crucial board evaluation reports, including the lowest rating assigned to theChairman's category, from other board members. The former State Bank of India chairman had also failed to secure the required 75 per cent special resolution threshold at the company's Annual General Meeting on August 24 for his reappointment as independent ...

Chairman OP Bhatt hid audit findings from board members, says Coforge

The IT services firm said reports were available only to OP Bhatt and NRC chair DK Singh, while the chairman's lowest rating was not disclosed or discussed with the full board

HSBC's Anita Mishra to move to London; Hiren Sanghvi to head India markets

Hiren Sanghvi will replace her as head of markets and securities services in India

QClairvoyance Quantum Labs, IITM-C-DOT Samgnya tie up on quantum tech

The partnership will focus on quantum computing, algorithms, AI and post-quantum cybersecurity, with emphasis on research, validation and eventual deployment

Pocket Entertainment crosses $500 mn ARR as business grows 70%

Pocket Entertainment says AI-led growth across content creation, production and distribution has helped it cross $500 million in ARR, with a healthy bottom line

HSBC's first female CFO Pam Kaur to step down from role in 2027

HSBC said its board has started to ​look for a successor, and will consider "both internal and external candidates".

Capital Group fund buys 1.95% stake in Sri Lotus Developers for ₹190 cr

Smallcap World Fund acquired the stake through an open-market transaction as promoter Anand Kamalnayan Pandit sold 2% to meet minimum public shareholding norms

PepsiCo is bullish on India, targets top-10 global market status

Global food and beverage major PepsiCo expects India to break into its list of top 10 global markets in the coming years, as the country continues to draw investment for its expanding manufacturing footprint and rising consumption potential, its India & South Asia CEO Jagrut Kotecha said on Thursday. Calling India one of its most promising markets globally, he said the company remains "very bullish" on the country's growth potential, backed by an investment of around Rs 5,700 crore by 2030 to scale up capacity and strengthen its regional footprint. PepsiCo, which is investing to enhance capacity and scale up its supply chain network, inaugurated its fifth manufacturing plant in Nalbari, Assam, on Thursday, with an investment of Rs 778 crore. The company, which earlier this year opened a concentrate facility at Ujjain in Madhya Pradesh, is also setting up a plant at Tiruchirappalli in Tamil Nadu to widen its presence in south India. Replying to a PTI query on whether India will ...

Sagar Defence Engineering gets industrial licence to make military vessels

Sagar Defence Engineering Ltd, a vertically integrated deep-tech start-up, has been granted an industrial licence by the government for the manufacturing of surface and underwater vessels for use by the military, people familiar with the matter said on Thursday. The company is among a handful of private entities to get the licence to produce vessels for use by the Indian Navy and Coast Guards. The licence enables the company, subject to applicable regulatory approvals and licence conditions, to undertake activities relating to the design, manufacture, construction, integration, assembly, testing and supply of specified naval defence platforms and associated systems, the people cited above said. The development follows the grant of an industrial licence for the manufacture of arms, explosives and ammunition to Sagar Defence Engineering earlier this year. The earlier approval covered the manufacture of specified arms, explosives and ammunition, while the latest licence relates to the

PepsiCo India opens fifth food plant in Assam with ₹778 crore investment

The 44.2-acre Nalbari facility will make Lay's and Uncle Chipps, support over 5,000 farmers and create around 700 direct and indirect employment opportunities

House of Tata set for season of meetings amid leadership uncertainty

Under the Tata Sons Articles of Association (AoA), SRTT and SDTT have to jointly nominate three members to the five-member selection committee.

OP Bhatt quits as Coforge chair after internal audit flags disclosure gaps

The resignation followed concerns identified in an internal audit review over the handling and disclosure of information relating to the board evaluation report

Flipkart tests 'Eat In' food delivery, pilots standalone Minutes app

Flipkart is testing Eat In with employees and a standalone Minutes app with select users in Bengaluru, as it prepares for wider rollouts ahead of its festive-season sale.

India will lead in AI adoption, scale over next decade: Sarvam cofounder

Sarvam cofounder Pratyush Kumar said India has its own AI models, access to GPUs and a growing talent pool, with financial services set to drive adoption and demand.

LOHUM targets 30,000 tonnes lithium carbonate output from Zimbabwe assets

The critical minerals company has begun mining across 10 spodumene-bearing blocks and plans to refine the material in India as part of an integrated battery-materials supply chain

India lifts ban on JPMorgan Chase & Co unit in index manipulation charge

While the regulator has allowed both entities to trade in India's capital markets, its investigation into the alleged market manipulation will continue.

Amazon to raise over $5 bn in first sterling bond sale, lead managers say

Amazon saw over 12 billion pounds in demand for the four-part deal, ​which will is expected to raise 1 billion pounds each from 3-, 6-, 12- ‌and 19-year bonds

Paras Dairy, KIS Group to set up 10 BioCNG plants with ₹1,000 cr investment

Bengaluru-based KIS Group and Paras Dairy will form a joint venture to set up 10 BioCNG plants with an investment of Rs 1,000 crore. According to a joint statement, KIS Group and Paras Dairy have signed a Memorandum of Understanding (MoU) to set up 10 BioCNG (CBG) plants across Uttar Pradesh, Madhya Pradesh, Maharashtra and other states, with an estimated investment of Rs 1,000 crore. They will form a joint venture (JV) for the proposed BioCNG plants. Under the partnership, KIS Group will be responsible for technology, construction and operation of the plants, while Paras Dairy will be responsible for feedstock arrangement, land and approvals. The MoU was signed at the IBET Expo here. Founded in 2006, KIS Group is a clean technology player specialising in Biogas, BioCNG, and BioLNG solutions. Paras Dairy has plants in Sahibabad, Guloathi and Sandila in Uttar Pradesh, Malanpur in Madhya Pradesh and Newasa in Maharashtra.

PwC India, Claroty form alliance to boost cybersecurity for critical infra

PwC India Announces Strategic Alliance With Claroty for OT and Connected Environment Cybersecurity