Page 23 - Company News

RedTape founders look to sell majority stake, approach Blackstone, KKR

EY has reached out to private equity firms Blackstone and KKR and Co to explore potential offers for the family's stake, said two of the three sources

Indofast Energy to install 23 battery swapping stations on Mumbai Metro 3

Battery swapping solutions provider Indofast Energy on Tuesday said it will set up a network of 23 battery swapping stations along the Mumbai Metro Aqua Line 3 corridor under a partnership with MMRCL. Under this partnership, Indofast Energy will deploy swapping stations strategically across eight key stations on the Aqua Line 3 route - Aarey JVLR, SEEPZ, MIDC, Santacruz Metro, Bandra Kurla Complex, Dharavi, Worli, and Acharya Atre Chowk, the company said. The charging infrastructure will cater to electric two- and three-wheelers as well as small commercial vehicles. It will benefit delivery partners, ride-sharing drivers, and daily commuters using the Aqua Line 3 route, making it easier for those using this major north-south corridor to adopt electric vehicles for their complete journey needs, Indofast Energy said. The strategic collaboration with Mumbai Metro Rail Corporation Limited is a significant step in creating integrated sustainable urban mobility solutions by connecting mas

zingbus bets on demand-led expansion to hit ₹350 crore revenue in FY26

Intercity bus aggregator zingbus on Tuesday said it is aiming to reach a topline of over Rs 350 crore this fiscal, driven by demand-led network expansion across north and south India. This growth is supported by extensive intercity route expansion across north and south India, launching 28 new routes for zingbus Maxx and zingbus Plus, the company said. The fleet expansion was largely undertaken on existing routes, enabling travellers to benefit from greater flexibility in travel timings, it said. The company said it expects to record strong year-on-year growth in FY26 compared to FY25, supported by a sharp rise in revenue from operations, indicating consistent growth across its intercity network. "As we work towards our FY26 growth goals, there has been a clear focus on demand-led expansion, adding routes where we continuously observe high passenger demand," said Prashant Kumar, Co-founder and CEO of zingbus. The company said it is on its path to profitability while doubling its f

ADIF writes to CCI for interim relief to Indian startups in Apple case

Alleges company is using dilatory and delaying tactics in regulator's investigation

Vodafone Idea AGR relief estimated at ₹54,200 crore, says report

According to sources, the government has begun evaluation of the AGR dues at all circle levels following its communication to the number three carrier

Delhi High Court allows Zydus to sell generic version of cancer drug

The Delhi High Court has allowed Zydus Lifesciences to sell its nivolumab biosimilar, citing public interest, while directing the firm to maintain audited sales accounts pending the patent case

Sukino raises $31 million to expand post-hospital recovery care

Bessemer Venture Partners leads the Series B round as the healthcare chain bets on rising demand for rehabilitation outside hospitals

Paytm sees continued rise in institutional holding stake in Q3 FY26

One 97 Communications Ltd (Paytm) witnessed continued institutional participation in the December quarter (Q3 FY26), reflecting sustained confidence in the company's long-term growth trajectory and improving fundamentals. Foreign Portfolio Investors (FPIs) emerged as key incremental buyers during the quarter, with Category I FPIs increasing their stake to 25.33 per cent in Q3 from 23.01per cent in Q2 FY26, driven by Paytm's inclusion in the MSCI Global Standard Index in November 2025. Foreign Direct Investment (FDI) shareholding declined to 25.18 per cent in Q3 FY26 from 27.44 per cent in Q2 FY26 on account of around 2 per cent stake sale by Elevation Capital through a block deal in November 2025. Domestic investors continued their bullish stance on Paytm, steadily increasing their holdings during the quarter. Domestic institutional ownership rose to 20.32 per cent in Q3 from 19.95 per cent in the previous quarter, driven by strong buying from domestic insurance companies. Indian

TCS sees continued headcount decline despite higher fresher intake

TCS' voluntary attrition for the quarter stood at 13.5 per cent, slightly higher than 13.3 per cent in the preceding quarter

Nissan appoints Thierry Sabbagh to lead operations in India, Middle East

Automaker Nissan on Monday said it has appointed Thierry Sabbagh as Divisional Vice President and President, Middle East, KSA, CIS and India -- Nissan and Infiniti. The company said it has announced a series of senior management changes in its Africa, Middle East, India, Europe and Oceania (AMIEO) region, designed to strengthen delivery of its transformation plan and enhance operational efficiency, speed and customer focus. "Effective January 1, 2026, Thierry Sabbagh's responsibilities have been expanded to include Nissan India, as he becomes Divisional Vice President and President, Middle East, KSA, CIS and India -- Nissan and Infiniti," the automaker said in a statement. The expanded scope reflects Nissan's focus on maintaining leadership continuity across established markets while strengthening governance, execution and growth momentum in India as a strategic priority within the AMIEO region, it added. "The Re:Nissan plan is about transformation and customer-centricity. By ...

Coromandel to set up corporate research centre at IIT Madras Research Park

Coromandel International signs MoU with IIT Madras to set up a corporate research centre, boosting agri innovation, sustainability, and industry-academia collaboration

Crest Ventures forms JV for Mumbai realty project with ₹1,850 cr revenue

Mumbai-based Crest Ventures Ltd, which is into financial services and property businesses, has partnered with Vensco Projects Ltd to develop a real estate project in Mumbai with an estimated revenue of Rs 1,850 crore. The company's subsidiary, Crest Urban Living, has entered into a Joint Development Agreement (JDA) with Vensco Projects LLP for the development of a premium mixed-use project in Chembur, Mumbai. The project is spread across 11,000 square metre. In a statement on Saturday, Crest Ventures said the company will develop a luxury mixed-use residential project on this land parcel. The project will have an estimated sales value or Gross Development Value (GDV) of about Rs 1,850 crore, it added. The company did not disclose the investment to develop this project. The 2.5-acre project will have a total saleable area of nearly 5 Lakh square feet. Vijay Choraria, Managing Director, Crest Ventures, said, "Our upcoming project on Chembur's Golf Course Road represents a new chap

Avenue Supermarts Q3 result: Profit rises 18.28% to ₹855.78 crore

Avenue Supermarts Ltd on Saturday reported an 18.28 per cent rise in consolidated net profit at Rs 855.78 crore in the third quarter ended December 2025, on the back of higher revenue. The company, which runs a supermarket chain under the brand DMart, registered a consolidated net profit of Rs 723.54 crore in the same quarter last fiscal, Avenue Supermarts Ltd said in a regulatory filing. Consolidated revenue from operations in the latest third quarter stood at Rs 18,100.88 crore as against Rs 15,972.55 crore in the year-ago period, it added. Total expenses in the third quarter were higher at Rs 16,942.62 crore as compared to Rs 15,001.64 crore in the corresponding period last fiscal. The company said its board has approved the appointment of Anshul Asawa, presently the CEO Designate, as Chief Executive Officer and Managing Director, for a term of three years with effect from April 1, 2026, subject to the approval of shareholders. He will succeed Ignatius Navil Noronha, who will c

Prestige Group JV buys 16.38-acre land parcel in Chennai for ₹561 crore

Realty firm Prestige Estates Projects Ltd's joint venture firm has agreed to purchase a 16.38-acre land at Padi in Chennai for Rs 561 crore to build a real estate project. Sundaram-Clayton Ltd is the seller of this land parcel. Canopy Living LLP, a joint venture between Prestige Estates Projects Ltd and Arihant Foundations & Housing Ltd, has signed an agreement for the purchase of a land parcel measuring 16.381 acres located at Padi, Chennai, according to a regulatory filing on January 8. This acquisition is aligned with Prestige Group's strategy of strengthening its presence in high-quality urban locations. Separately, Sundaram-Clayton Ltd informed the exchanges that it has executed an Agreement to Sell on January 8 with Canopy Living LLP for the sale of its land admeasuring 16.381 acres situated at Korattur village, Ambattur Taluk, Chennai district, Tamil Nadu. "Advance of Rs 25 crores received, and the balance consideration of Rs 535.67 crores to be received on execution of the

CCI defends global turnover-based penalty law in Apple antitrust case

In its lawsuit, Apple said the law, which reflects practice in the European Union, could lead to disproportionate fines for breaches that happened only in India

Samsung forecasts record profit surge as AI-driven chip prices soar

The results highlight how chip prices have rocketed as chipmakers scramble to keep up with demand for memory chips used in servers, personal computers and mobile devices to meet AI needs

Health-tech startup Tata 1mg eyes 500 offline stores by year-end

The move signals a sharper push towards omnichannel growth amid continued regulatory uncertainty in e-pharmacy

On-demand house help market becomes two-horse race in urban India

Capital, labour flock to Urban Company, Snabbit as speed becomes currency of convenience

Hartek Power bags ₹353.77 crore solar-plus-storage project in Karnataka

Hartek Power on Thursday said it has secured a major renewable energy contract worth Rs 353.77 crore for a solar project with a battery energy storage system in Karnataka. The company has been awarded the EPC (engineering procurement construction) scope for a 280 MW AC / 410 MWp DC solar PV project, along with an 80 MW / 320 MWh battery energy storage system at Challakere, a company statement said. The scope of work includes design, engineering, supply, erection and commissioning of the project, along with one year of operations and maintenance. The total purchase price for the signed and agreed scope is approximately Rs 353.77 crore, it added. Battery energy storage systems are emerging as a critical enabler for managing intermittency in solar power and supporting round-the-clock energy availability. Simarpreet Singh, Executive Director and CEO, Hartek Group, said, "This project reflects the growing maturity of India's renewable energy market, where solar generation and storage ar

Execution-driven margin gains support BHEL despite policy overhang

Policy overhang limits near-term stock performance