Page 3 - Company News

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

Matter ties up with Niron to develop rare earth-free motors for e-bikes

China currently controls about 90 per cent of the world's REPM production

Anil Agarwal grieves son Agnivesh's death, calls it his darkest day

Agnivesh Agarwal, the eldest son of mining billionaire Anil Agarwal, passed away in the US. He was 49. Agnivesh, who was on the board of Vedanta group firm Talwandi Sabo Power Limited (TSPL), was recovering from an undisclosed illness at the time of his death. Anil Agarwal has two children: his late son, Agnivesh, and a daughter, Priya, who is on the board of Vedanta and chairperson of Hindustan Zinc Limited.

IRB Infra reports 12% jump in toll revenue to ₹7.54 billion in December

IRB Infrastructure and Developers (IRB) has posted a 12 per cent year-on-year rise in its toll revenue to Rs 754 crore in December 2025. The revenue collection stood at Rs 675 crore in the same month last year, IRB said in an exchange filing on Wednesday. The collection includes revenues from two of its InvITs, namely IRB InvIT Fund (Public InvIT) and IRB Infrastructure Trust (Private InvIT), the company added. Of its total 24 assets, IRB MP Expressway in Maharashtra contributed the major share of Rs 170.3 crore to the total revenue collection in December 2025, up from Rs 163.4 crore in December 2024. Contribution of IRB Ahmedabad Vadodara Super Express Tollway rose to Rs 84.1 crore in December 2025 from Rs 70.7 crore a year ago, the second largest in the aggregate toll collection, the filing said. With Rs 78.8 crore, IRB Golconda Expressway (Hyderabad ORR) was the third largest contributor to the revenues in December 2025, up from Rs 71.3 crore last year. Amitabh Murarka, Deputy

Aivar raises $4.6 million in a seed round to take AI services global

Seed round led by Sorin Investments, with participation from Bessemer Venture Partners, will fund expansion across India, the US and Middle East and deepen investment in AI accelerators, senior talent

Proxy firms back Shriram Finance stake dilution plan in favour of MUFG

Three Proxy advisory firms have supported all three proposals, including stake dilution in favour of Japan-based MUFG Bank, for the Shriram Finance EGM to be held next week. The extraordinary general meeting has been called on January 14 to secure a nod for fund infusion of Rs 39,618 crore or USD 4.4 billion (about Rs 39,600 crore) from MUFG Bank by diluting 20 per cent stake through preferential issue shares. Last month, Japan's Mitsubishi UFJ Financial Group Inc (MUFG) announced its plan to acquire a 20 per cent minority stake in non-bank lender Shriram Finance for Rs 39,618 crore (around USD 4.4 billion), marking the largest cross-border investment in India's financial sector to date. The first two resolutions are the preferential allotment of shares of 20 per cent shareholding to MUFG Bank and the grant of special rights to MUFG Bank. These are special resolutions requiring 75 per cent of votes cast. The third resolution is the USD 200 million non-compete fee being paid by MUFG

Ed-tech firm LEAD Group targets partnering with 1,200 schools in 2026

With nearly 8,500 schools already on board, LEAD Group is planning its next growth phase ahead of a proposed FY28 IPO

RIL denies report on Russia oil purchase, share price tumbles over 4%

The stock of Reliance Industries declined 4.5 per cent and ended the session at ₹1,508.90, its biggest one-day decline since June 4, 2024

Confident of gradual improvement in consumption over coming quarters: GCPL

Godrej Consumer Products Ltd on Tuesday said demand conditions in India strengthened progressively during the third quarter ended December 2025, and the company is confident of a gradual improvement in consumption over the coming quarters. In its quarterly update, Godrej Consumer Products Ltd (GCPL) said falling inflation and improving affordability following lower GST rates would support growth of consumption, and its standalone business is well-positioned to deliver double-digit revenue growth in the third quarter. "...demand conditions in India strengthened progressively during the quarter. We remain confident of a gradual improvement in consumption over the coming quarters, supported by falling inflation and improving affordability following lower GST rates," GCPL said in a regulatory filing. Against this backdrop, it said, "Our standalone business is well-positioned to deliver double-digit revenue growth for the quarter, underpinned by close to double-digit underlying volume .

CCI approves Nippon Steel's ₹3,500 crore deal to fully acquire Krosaki

The Competition Commission of India (CCI) on Tuesday approved Japanese steelmaker Nippon Steel Corporation's proposal to acquire the remaining 53.4 per cent stake in Krosaki Harima Corporation. Nippon Steel holds a 46.6 per cent stake in Krosaki. After the completion of the transaction, Nippon Steel's holding in Krosaki would be 100 per cent. "The proposed combination involves acquisition by Nippon Steel Corporation (Nippon Steel) of 53.4 per cent shareholding of Krosaki Harima Corporation (Krosaki) by way of a tender offer and potential squeeze out (if applicable)," the regulator said in a release. In India, Nippon Steel is engaged in the business of manufacturing tubes and pipes, and processing automotive cold rolled steel sheets, crankshafts, and auto-parts and also imports and sells various products. Krosaki is a listed company in Japan. In India, Krosaki, through its affiliate entities, is engaged in the manufacturing and sale of refractory products, and services the iron & ..

GCPL expects consolidated revenue to be in double digits in Oct-Dec

Godrej Consumer Products expects double-digit consolidated revenue and EBITDA growth in the October-December quarter, led by strong home care demand and improving consumption trends

Samsung bets on hybrid AI, open ties to strengthen built-in security

Samsung Electronics has said it will prioritise governance, protect privacy and secure its services to ensure that artificial intelligence (AI) emerges as a 'true companion' of users. The South Korean consumer electronics giant's announcement comes amid a raging debate about consumers' security and privacy in the rapidly evolving AI era. Samsung, which is planning to embed AI in all its products and services starting this year, said its hybrid AI model ensures personal data remains on-device whenever possible, and cloud-based intelligence is used selectively when greater speed or scale is required, giving users flexibility without compromising privacy. Additionally, the company emphasised that trust will grow when AI behaves predictably and securely across devices. Samsung's Shin Baik, the head of its AI Platform Center (APC), highlighted Samsung's open collaboration with industry leaders, such as Google and Microsoft, as a way to strengthen shared security research, interoperabilit

MatchLog joins Softlink Global to boost container asset optimisation

Container reuse platform MatchLog on Tuesday said it has entered into an agreement with logistics solutions provider Softlink Global to integrate its container equipment optimisation capabilities with the latter's enterprise resource planning platform Logi-Sys. The integration would help container reuse and asset optimisation for freight forwarders, third-party logistics providers, and shipping companies. The integration is designed to scale across more than 100 countries where Logi-Sys is already deployed, using Softlink Global's footprint to standardise container reuse practices while adapting to regional operating realities, it said. Softlink Global is a digital backbone platform powering freight and logistics operations for more than 5,100 companies globally, while its enterprise resource planning (ERP) platform serves as the system of record for freight forwarding, customs, warehousing, and financial operations. By embedding container optimisation within Logi-Sys, customers ga