Page 21 - Company News

BEML Q2 results: Net profit declines 6% to ₹48 cr on lower income

State-owned BEML on Wednesday reported a 5.8 per cent decline in consolidated profit to Rs 48.03 crore in the quarter ended September 30, 2025, on account of lower income. The company had posted a consolidated profit of Rs 51.03 crore in the year-ago period. Its consolidated income during the July-September period fell to Rs 846.13 crore against Rs 874.70 crore in the year-ago period. BEML serves core sectors like defence, rail and mining. It operates under three major verticals defence and aerospace, mining and construction and rail and metro.

Hero MotoCorp unveils micro electric four-wheeler under VIDA Novus range

Indian two-wheeler maker Hero MotoCorp on Tuesday unveiled a micro electric four-wheeler under a new 'Novus' range from its emerging mobility business unit VIDA. The company also launched various sustainable and intelligent mobility solutions, including a portable, wearable micro mobility device, NEX 1, and an electric trike, NEX 2. The company also showcased a micro electric vehicle with four wheels, NEX 3, along with two concept electric motorcycles, VIDA Concept Ubex and VIDA Project VxZ, among others, here at the global two-wheeler exhibition EICMA 2025. "Novus symbolises renewal and reinvention...(it) reimagines how the world will move, shaping a future that's inspiring, intelligent and inclusive," Hero MotoCorp Executive Chairman Pawan Munjal told reporters here. The NEX 3 is an "all-weather personal EV that offers the safety and comfort of four wheels in an elegant and versatile form, for both urban and rural journeys, Munjal said. It is a tandem seating (front and back) ..

Reliance Group says no impact on business operations due to attachment

Anil Ambani's Reliance Group on Tuesday said there is no impact on business operations of the group's listed companies because of the ED's attachment of Rs 7,500 crore worth of properties, which is linked to a money-laundering probe. The majority of the assets attached by the Enforcement Directorate belong to Reliance Communications, which is under the control of the Resolution Professional (RP) and the committee of creditors (CoC), led by State Bank of India, the group's listed firms said in stock exchange filings. The federal probe agency issued four separate provisional orders under the Prevention of Money Laundering Act (PMLA) on October 31 for attaching 42 properties, including the 66-year-old Ambani's family home in Pali Hill, Mumbai, apart from other residential and commercial properties of his group companies. The attachment relates to cases involving Reliance Communications and its affiliates over the alleged diversion of loans taken from YES Bank between 2017 and ...

Yum Brands says it's reviewing options, may sell Pizza Hut chain

Pizza Hut could soon be up for sale. Yum Brands, Pizza Hut's parent company, said Tuesday it's conducting a formal review of options for the brand, which has struggled to compete in a crowded pizza market. Yum CEO Chris Turner said Pizza Hut has many strengths, including a global footprint and strong growth in many countries. Pizza Hut has nearly 20,000 stores in more than 100 countries, and its international sales were up 2 per cent in the first nine months of this year. China is its second-largest market outside the US. But Pizza Hut gets nearly half its sales from the US, where it has around 6,500 stores, and US sales fell 7 per cent in the same period. Pizza Hut was long saddled with large, outdated dine-in restaurants at a time when consumers wanted fast pickup and delivery. In 2020, one of Pizza Hut's largest franchisees filed for bankruptcy protection and closed 300 stores. The Pizza Hut team has been working hard to address business and category challenges; however, Pizza

Castrol India Q3 results: Profit rises 10% to ₹228 crore, revenue up 6%

Lubes maker Castrol India on Tuesday reported 10 per cent growth in the Profit After Tax (PAT) at Rs 228 crore in the third quarter over the same period a year ago. The company had posted a profit after tax of Rs 207 crore in Q3 of CY 2024, Castrol India said. Revenue from operations grew 6 per cent for the September quarter to Rs 1,363 crore as compared to Rs 1,288 crore in the third quarter of 2024. "We delivered yet another quarter of consistent growth, while maintaining profitability through our diverse portfolio and agile channel mix. Both rural and industrial segments continue to build strong momentum, contributing significantly to our growth story," said Kedar Lele, Managing Director, Castrol India Limited. Looking ahead, the company's focus will stay firmly on driving volume growth, delivering market share gains, and expanding the portfolio in consumer-relevant adjacent categories," he added. "While the external environment continues to shift, we have remained nimble, adap

Royal Enfield to begin global rollout of e-bikes in 2026: CEO Govindarajan

Motorcycle maker Royal Enfield, part of Eicher Motors Group, will start the global commercial roll-out of its electric bikes under the Flying Flea brand from next year, a top company official said on Tuesday. The company, which showcased its second electric bike Flying Flea S6 here at the global two-wheeler exhibition EICMA, is working to create the market for its electric bike and grow the category over a period of time, Eicher Motors Ltd Managing Director and Royal Enfield CEO B Govindarajan told PTI Videos here. "We will be into the market in 2026, first starting with Flying Flea C6, followed by (Flying Flea) S6," he said, in reply to a question about when Royal Enfield's electric bikes will hit the market. When asked about the timeline for India's launch, Govindarajan said, "Once it's done in Europe, it will follow within a short window in India". On how the company sees the contribution of the electric bikes to its overall sales, he said that at present, the company's focus is

Aditya Birla Lifestyle Q2 results: Profit at ₹23.4 cr, revenue rises 3.7%

Aditya Birla Lifestyle Brands on Tuesday reported a consolidated net profit of Rs 23.44 crore for the September quarter of FY26. It had posted a net loss of Rs 58.77 crore a year ago, according to the regulatory filing of the Aditya Birla Group, which has been formed after the demerging of Madura Fashion and Lifestyle. This is the second quarter result of Aditya Birla Lifestyle Brands Limited (ABLBL), which was listed on the bourses on June 23, 2025, following the demerger. Its revenue from operations rose 3.71 per cent to Rs 2,037.90 crore in the September quarter of FY26. This was Rs 1,964.93 crore in the year-ago period. The total expenses stood at Rs 2,027.95 crore, up nearly 3 per cent in the September quarter. Its total income, which includes other income, in the September quarter, increased 3.7 per cent to Rs 2,059.02 crore. Its lifestyle brands include Louis Philippe, Van Heusen, Allen Solly, Peter England, Simon Carter and youth western wear brands like American Eagle. .

Deutsche Telekom, Nvidia to launch $1.2 bn AI cloud for industrial clients

Nvidia CEO Jensen Huang said the artificial intelligence giant was also willing to invest more in the country

Whirlpool India Q2 results: Profit falls 22% to ₹41.8 cr, revenue dips 4%

Consumer durables maker Whirlpool of India on Tuesday reported a decline of 21.9 per cent in consolidated net profit at Rs 41.80 crore for the September quarter of FY'26. The company had posted a net profit of Rs 53.53 crore during the July-September quarter of the previous fiscal, according to a regulatory filing by Whirlpool of India, a subsidiary of US-based Whirlpool Corporation. Its revenue from operations was down 3.83 per cent to Rs 1,647.27 crore in the September quarter of FY'26. It was at Rs 1,712.99 crore in the corresponding period of the previous fiscal. Whirlpool of India's total expenses were at Rs 1,649.51 crore in the September quarter, down 2.33 per cent. Its total income, including other income, stood at Rs 1,697.10 crore, down 3.7 per cent in the September quarter. Shares of Whirlpool of India Ltd on Tuesday settled at Rs 1,374.20 a piece on BSE, down 0.16 per cent from the previous close.

Indian Hotels Q2 results: Profit falls 45% to ₹318 cr; revenue rises 12%

Indian Hotels Company Limited (IHCL) on Tuesday reported a 45 per cent decline in its consolidated net profit of Rs 318.26 crore for the second quarter ended September 2025. In the year-ago period, the country's biggest hospitality player had posted a consolidated net profit of Rs 582.71 crore. The decline is despite revenue growth during the July-September quarter under review, as revenue from operations stood at Rs 2,040.89 crore, as against Rs 1,826.12 crore a year ago, according to a regulatory filing. At the same time, Tata Group-owned IHCL's total expenses also increased to Rs 1,671.54 crore, from Rs 1,502.01 crore in the same quarter of the last fiscal. IHCL, which owns the 'Taj' marquee brand, has two primary revenue segments, including Hotel Services and Air and Institutional Catering (TajSATS). "IHCL continued its accelerated growth momentum in the first half of FY2026 with 46 signings to reach a portfolio of 570 hotels and opened 26 hotels, crossing a milestone of over

Deutsche Borse to open Global Capability Centre in Hyderabad for expansion

German company Deutsche Borse would open its Global Capability Centre (GCC) in Hyderabad, the Telangana government said on Tuesday. A delegation led by German Consul General in Chennai Michael Hasper met Telangana Chief Minister A Revanth Reddy and the German team briefed him about the GCC which is being established as part of the Borse company's expansion, a release from the government said. The new facility will provide at least 1,000 job opportunities in the IT sector in the GCC in the next two years, it said. Thanking the German company for choosing Hyderabad to set up the GCC, the chief minister said Hyderabad is the best destination for investments and that the state government would extend full support to global investors. Reddy urged German companies to invest in IT, Pharma and Automobile sectors in the state. The CM reaffirmed that Telangana is ready to strengthen ties with Germany for more investments, the release added. The chief minister also appealed to the German tea

Tata Steel to sell Jajpur ferro alloy plant to IMFA for ₹610 crore

Tata Steel has signed an asset transfer agreement with IMFA for the sale of its Jajpur ferro alloy plant in Odisha. The deal, worth Rs 610 crore, is expected to close within three months

Radisson targets 500 hotels, 50,000 workforce in India by 2030

Belgium-headquartered Radisson Hotel Group is targeting a portfolio of 500 hotels and a 50,000 strong workforce in India by 2030, a top executive from the luxury hospitality chain said on Tuesday. In an interview to PTI, Elie Younes, Executive Vice President and Global Chief Development Officer of the Radisson Hotel Group, shared its India expansion plans, aiming to more than double the number of properties in its portfolio, from over 200 currently, to 250-260 by 2026 and 500 by 2030. Younes said the Radisson Hotel Group is expected to nearly triple its workforce to 50,000 people in India by 2030, from 17,000 at present. He also outlined suggestions for attracting more foreign tourists to India, pitching for easier visa regulations and improved airline infrastructure to support better air travel facilities. He also outlined that branded residences segment is going to be an alternative model for the Radisson Hotel Group, and not a mainstream model, for the next five years. "We ...

NCLAT overturns CCI ban on Whatsapp sharing user data with Meta platforms

Appellate tribunal NCLAT on Tuesday set aside a section of a Competition Commission of India (CCI) order that had banned WhatsApp from sharing data with Meta Platforms for advertising purposes for five years. Modifying the order passed by the CCI on November 18, 2024, the NCLAT set aside section 247.1 of the 158-page-long order. However, the tribunal retained the Rs 213 crore penalty on the company and the rest of the order. "We are setting aside the findings of the Commission insofar as it holds breach of Section 4 (2)(D) and setting aside the directions in paragraph 247.1, (which stated) WhatsApp will not share user data collected on its platform with other data companies or advertising purposes for a period of five years from the date of receipt of this order," said NCLAT bench while pronouncing its order orally in the open court. "In respect of such sharing of data for advertising purposes, the rest of the impugned order is upheld. The order dated 18 November 2024 is modified ..

IMFA to acquire Tata Steel's ferro chrome plant in Odisha for ₹610 crore

Indian Metals & Ferro Alloys Ltd (IMFA) has signed definitive agreements to acquire Tata Steel's ferro chrome plant at Kalinganagar, Odisha, for a base consideration of Rs 610 crore. The acquisition adds 99 MVA furnace capacity - 66 MVA operational and 33 MVA under construction - taking IMFA's total installed capacity beyond 0.5 million tonnes per annum, the company said in a statement. With this deal, IMFA becomes India's largest and the world's sixth-largest ferro-chrome producer. Spread across 115 acres, the Kalinganagar facility includes four furnaces capable of producing 100,000 tonnes per annum, expected to rise to 150,000 tonnes once a fifth furnace is commissioned. The plant's proximity to IMFA's captive chrome ore mines is expected to yield cost savings and operational synergies. The transaction, subject to regulatory approvals, is likely to close within three months. Calling the acquisition "transformational," IMFA Managing Director Subhrakant Panda said it would ...

ACME Solar Q2 results: Profit up seven-fold to ₹115 cr on higher revenue

ACME Solar Holdings Ltd has posted a more than seven-fold jump in its consolidated net profit to Rs 115.06 crore for the second quarter of this fiscal on higher revenue. Its net profit stood at Rs 15.2 crore in the year-ago period. Total income also more than doubled to Rs 601.36 crore in the July-September period of this fiscal from Rs 295.14 crore in the corresponding period of the preceding year, according to a regulatory filing on Monday. The company partially commissioned 28 MW out of 100 MW wind project in Gujarat, taking the cumulative commissioned capacity to 378 MW. ACME Solar Holdings Ltd is a pure play, fully integrated renewable energy company in India with a diversified portfolio across solar, wind, storage, hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects. The company is one of the leading renewable energy independent power producers in the country, with an operational capacity of 2,918 MW and under construction capacity of 4,472 MW, including 13.5 G

Oyo parent PRISM announces new, simplified bonus plan for all shareholders

The revised bonus structure aims to ensure transparency and equal participation for all shareholders, including CCPS holders, as PRISM prepares for its next phase of growth

Epsilon Carbon inks $20 mn deal with Alba, plans IPO by end of 2027

Leading coal tar pitch Epsilon Carbon on Sunday announced that it has signed a USD 20-million memorandum of understanding with Aluminium Bahrain (Alba) to explore a long-term supply of liquid coal tar pitch to the Middle East region. Speaking with PTI on the sidelines of the 3rd Gateway Gulf Investment Forum here, Epsilon Carbon Managing Director Vikram Handa said that the company looks to boost its Coal Tar Pitch (CTP) production capacity to 300,000 tonnes by next year to cater to growing demand from the Middle East. CTP is used to manufacture carbon anodes and cathodes for aluminium smelting and for EV batteries. We look to export more and more, and we wanted to take the opportunity to bring a local supply chain to Bahrain. Between the smelters in Bahrain, Qatar and Saudi Arabia, about 250,000 tonnes of pitch is consumed every year. Most of it comes from China, Japan and India, from us. So, our facility here will be a melter where we will transport pitch from India to Bahrain, Ha

Saudi Arabia's flyadeal to begin India flights in the first quarter of 2026

Bullish on the fast-growing Indian aviation market, Saudi Arabia's no-frills carrier flyadeal will start flights to Indian cities, including Mumbai, from the first quarter of 2026. The airline's CEO, Steven Greenway, told PTI that India is one of the "most hyper-competitive markets" in the world and there is a need to have an "absolute, brutal focus on unit cost". A sister company of Saudia Airlines, the Jeddah-based profitable flyadeal has been flying for over eight years and expects to have 46 planes in its fleet by the end of this year. Currently, the carrier has 42 A320 family aircraft and has also placed orders for 10 wide-body A330 Neos that are expected to start coming in from July 2027. "Our intent is to start operating (to India) in the quarter one of next year... We expect to do the metropolises like Mumbai and Delhi, and also, our focus will be the secondary cities in India... I think Mumbai would be the first one," Greenway told PTI in an interview. Saudi Arabia and Ind

Unity Group, Parsvnath to earn ₹120 cr yearly rent from new mall in Delhi

Realty firms Parsvnath Developers and Unity Group will earn an annual rental income of about Rs 120 crore from their new operational shopping mall in the national capital. In 2023, Parsvnath and Unity Group formed an equal joint venture to develop a mall with 5 lakh square feet of leasable area. Last month, they opened the mall 'Unity One Elegante' at Netaji Subhash Place, Delhi. "We have leased 100 per cent of the retail space in our mall," Unity Group Director Harsh Bansal told PTI. When asked about the rental income, he said it would be around Rs 10 crore per month and Rs 120 crore annually. Bansal said the joint venture firm has to give nearly Rs 20 crore as lease rental to Delhi Metro Rail Corporation (DMRC). Parsvnath Developers Chairman Pradeep Jain noted that there is a huge demand for quality retail space across the Delhi-NCR market. In a regulatory filing last month, Parsvnath said a special purpose vehicle, 'Unity Parsvnaths LLP', a joint venture with Unity Group, has