Page 20 - Company News

A-I Delhi-Vancouver flight returns after 7 hours over operational issue

After being airborne for over seven hours, an Air India plane from Delhi to Vancouver returned to the national capital on Thursday evening due to an operational issue. Without providing specific details, Air India, in a statement on Friday, said the aircraft landed safely at the Delhi airport. The flight was operated with Boeing 777-200 LR aircraft VT-AEI and was airborne for over seven hours. The plane turned back to Delhi when it was in the Chinese airspace, according to information available on the flight tracking website Flightradar24.com. "Air India flight AI185, operating from Delhi to Vancouver on 19 March, returned to Delhi due to an operational issue and in line with established standard operating procedures. The aircraft landed safely, and all passengers and crew had disembarked," the airline said in a statement. A source said that there might have been an administrative issue in terms of the aircraft deployed, which led to the decision to return to Delhi. Further detail

Paranjape Schemes to invest ₹700 crore to develop 1,400 homes in Pune

Realty firm Paranjape Schemes Construction Ltd will invest Rs 700 crore to develop four projects in Pune as part of its expansion plan. In a statement on Friday, the company said it has launched a series of new residential projects across Pune West as part of its upcoming festive season offerings. "Collectively, the upcoming launches represent a development potential of over 1.75 million sq ft across nearly 1400 residential units, with an estimated revenue potential of approximately Rs 1,175 crore...," Paranjape Schemes said. The company will invest around Rs 700 crore to build these 1400 units, said Amit Paranjape, Director-Business Development, Paranjape Schemes Construction Pvt Ltd. The festive season has traditionally been an important time for homebuyers in India, as it represents new beginnings and long-term investments for families, he added. "Alongside our new launches, we are also actively developing three large integrated townships that will shape the next phase of urban

Who led and departed: Tracking key banking exits and leadership trends

HDFC Bank chairman Atanu Chakraborty quits citing ethical concerns, as spotlight turns on governance and trend of former bureaucrats leading private sector banks

HDFC Bank firefights after chairman Atanu Chakraborty's abrupt exit

RBI clears the air on governance concerns; mcap falls ₹66,433 cr

Governance and ethics come above everything else, says HDFC Bank

HDFC Bank reassures investors on governance and stability after Chairman Atanu Chakraborty's resignation, says RBI backing and board unity will help restore confidence

HDFC Bank may ask ex-chairman Chakraborty to explain resignation concerns

HDFC Bank board may seek clarification from former chairman Atanu Chakraborty over concerns cited in his resignation letter amid questions on governance and management relations

HDFC Bank board likely to approve CEO Sashidhar Jagdishan reappointment

During an analyst call in the morning, Jagdishan said the best period of the bank will start now, with growth returning to pre-merger levels

Eli Lilly banks on tirzepatide's clinical edge as GLP-1 generics loom

Lilly positions tirzepatide as a clinically superior option as semaglutide patent expiry triggers a wave of generics, intensifying competition in India's diabetes and obesity market

Gas-based power plants increasingly becoming impractical: NTPC chief

NTPC Chairman Gurdeep Singh flags viability concerns for gas-based power plants amid fuel supply uncertainties and stresses need for flexible generation solutions

Fintech firm MobiKwik to double down on payment devices business

MobiKwik plans to scale soundbox and EDC deployment, targeting 10% revenue contribution as it expands offline merchant acquiring beyond Tier I cities

Wipro launches GIFT City Hub to provide services to global BFSI clients

IT major Wipro on Thursday announced the launch of a new hub at the Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to deliver advanced AI-powered technology services to global Banking, Financial Services, and Insurance (BFSI) clients. The new facility will initially seat 150 employees, with the flexibility to scale up to 500 seats based on client demand, the company said in a statement on Thursday. The GIFT City hub will support the delivery of advanced solutions across digital banking, capital markets, regulatory technology, risk and compliance, and core platform modernisation. The centre, with Wipro Intelligence -- a unified suite of AI-powered platforms and solutions -- strengthens the company's ability to co-innovate with clients, embed responsible AI across critical financial workflows, and scale secure, domain-led platforms to meet the growing global demand for AI-powered BFSI transformation, Wipro said. "Wipro's presence at GIFT City is a strategic investme

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