Page 3 - Company News

TCS launches fully automated Pune facility to advance AI-led manufacturing

Tata Consultancy Services (TCS) on Wednesday announced the launch of an Industrial Autonomy & Engineering Lab at its Sahyadri Park campus in Pune, which the IT major described as India's first lights-out factory lab aimed at advancing artificial intelligence (AI)-led manufacturing. A lights-out factory refers to a manufacturing facility where autonomous systems operate production lines with minimal human intervention. In a regulatory filing, TCS said the new facility houses a fully robotic battery pack assembly line. The live multi-stage setup will allow manufacturers to prototype, validate and scale AI-first production systems while reducing deployment risks. The facility simulates how self-optimising factories can automate workflows by combining digital twins, robotics, industrial AI, factory control systems and real-time operational intelligence, the company said. "With our state-of-the-art TCS Industrial Autonomy & Engineering Lab Lights-Out Factory, we are advancing TCS'

Coforge chairman resigns after audit finds concerns in board evaluation

Bhatt, who previously served as chairman of India's largest lender, State Bank of India, was appointed chair of Coforge's board in 2024 with a term due to finish in April 2027

Ferrero Rocher eyes double-digit India growth, bets on premiumisation

Chocolate maker aims to outpace the domestic market this festive season, backed by premiumisation, wider retail distribution and demand across gifting occasions

Cards a key proposition in the affluent segment, says Suresh Sethi

Suresh Sethi, who took charge as Visa's group country manager for India & South Asia in April this year, addresses the growth challenge for cards amid the growing dominance of UPI

IGM appoints Nirakar Chand as MD of bullion trading platform BullionX

India Gold Metaverse (IGM) on Tuesday announced the appointment of Nirakar Chand as Managing Director of its bullion trading vertical 'BullionX'. Chand, former CEO of Diamond India Ltd, comes with nearly four decades of experience and a strong understanding of bullion markets and the broader precious metals ecosystem. In his new role, Chand will drive growth initiatives, industry engagement, and nationwide market development efforts at BullionX, the Mumbai-based company said in a statement. BullionX is one of IGM's four core platforms alongside Elanzia, RamMudra and GoldSense. IGM CEO and Managing Director Lamon Rutten said, "With his vast experience in the bullion market, Chand will be an invaluable addition to the IGM executive team. ...We look forward to his strategic leadership as we build a transformative, world-class market infrastructure.

DK Vertex plans ₹300 cr investment to expand convention centres in India

Conferences and exhibitions spaces firm DK Vertex has lined up a Rs 300 crore investment plan for expansion in India in the coming years, as it sees "significant potential" in the convention and events venues beyond metropolitan cities, Vertex Group Founder and President Gagan Arora said on Tuesday. DK Vertex, an arm of the US-headquartered Vertex Group, recently inaugurated the DK Vertex Convention Centre at Udyog Vihar, Gurgaon, in association with MSME Business Forum India, expanding its portfolio of business-ready spaces with a venue designed for conferences, exhibitions and corporate engagements. "With a Rs 300 crore investment plan to expand to more than 30 centres across 10 cities with 50,000 seats, we see this convention centre as part of a much larger journey to build an integrated ecosystem of spaces that respond to how modern businesses operate," the Vertex Group Founder & President told PTI. He shared that the company sees significant potential to take the convention .

Pace of growth recovery key for HUL as it executes its new strategy

HUL is betting on premiumisation, consumption and new categories to drive volume-led growth, but analysts await clarity on the pace and timeline of recovery

Asian Paints names Leo Puri chairman-designate, to take charge in 2027

Puri, whose board term runs until September 2031, will succeed R. Seshasayee

Jio completes 10 years of operations, Akash Ambani thanks employees

Reliance Jio has completed 10 years of operations, with chairman Akash Ambani thanking employees for their role in building the telecom company and its digital services

RBI approves LIC to acquire up to 9.99% stake in ICICI Bank within a year

RBI has approved LIC to acquire up to 9.99 per cent of ICICI Bank's paid-up share capital or voting rights within one year, subject to regulatory conditions

Cyrix Healthcare acquires Blue Star E&E's MedTech Solutions business

Cyrix Healthcare, a portfolio company of Somerset Indus Capital Partners Fund III, has announced the acquisition of the MedTech Solutions business of Blue Star Engineering & Electronics Ltd (Blue Star E&E). The acquisition, effective September 1, 2026, aims to strengthen Cyrix's medical imaging capabilities and expand its "total MedTech management" platform across India, West Asia, and Africa, according to a release on Saturday. Cyrix Healthcare did not share financial details of the transaction. The move integrates Blue Star E&E's expertise in multi-brand CT and MRI systems, including sales, installation, and maintenance across more than 250 installations, into Cyrix's existing infrastructure. The acquisition also bolsters AURUM, Cyrix's refurbished medical equipment business, by enhancing its capacity to handle refurbished CT and MRI systems. According to the company, all existing customers of Blue Star E&E MedTech Solutions will continue to be supported by the same .

NCLT stays ₹16-cr sale of Byju's K3-linked assets, flags valuation concerns

The insolvency tribunal NCLT has ordered a status quo on the assets sold by the resolution professional of Think and Learn Private Limited, the parent entity of debt-ridden edutech firm Byju's, in one of its subsidiaries. The Bengaluru-based bench of the NCLT has put a hold on any further disposal of Byju's K3 Education's assets till the next hearing on September 21 amid allegations that assets worth around Rs 150 crore were sold for just about Rs 16 crore. "The RP of TLPL (Think and Learn Private Limited) and the said newly impleaded Respondent are directed to maintain status quo in respect of the articles/equipment/assets auctioned under notice dated August 2, 2026, issued by the former, till next date," said a two-member bench. The National Company Law Tribunal (NCLT) order came earlier this week over a plea moved by the resolution professional (RP) of Byju's K3 Education, which is also facing insolvency proceedings, and Kritikal Solutions, seeking protection of the assets pendin

Centre plans overhaul of company filings under Companies Act: 5 key changes

The Centre is consulting stakeholders on a revamp of the filing architecture under the Companies Act, 2013. Here are five changes being considered and what they could mean for companies

Chinese AI firm Moonshot files confidentially for Hong Kong IPO

The developer of the Kimi large language model is aiming to raise $3 billion, one of the people said, as per Reuters.

PayPal cuts 220 India jobs as part restructuring plan announced earlier

The firm has outlined extensive cost-saving measures this year under newly appointed CEO, Enrique Lores, as it seeks to sharpen its competitive position in the crowded payments market.

France's Carrefour returns to India, open to acquisitions for growth

As Carrefour plans to expand in India, Patrick Lasfargues, executive director - international partnership, Nilesh Ved, chairman of APPCORP Holding, owner of Apparel Grp. spoke on its India market plan

Swiggy's concierge platform Crew enters travel segment with AI support

The offering, available to paid members and invited travellers, provides AI-supported assistance with itineraries, reservations, transport and other travel needs

Cradlewise raises $12 million in Series A round led by 3one4 Capital

The AI-first health and wellness startup plans to use the fresh capital for growth, channel expansion, product research and development, and geographic expansion

Lyte raises $165 million funding, valuation jumps 3x to $1.6 billion

The latest financing was led by Maverick Silicon, according to a statement on Wednesday, with participation from existing investors, including Fidelity Management & Research

Hyundai expects 8-10% H2 sales growth, aims to outpace PV industry

Automaker expects passenger vehicle industry to grow 5-6 per cent in H2; new mid-size SUV and sub-four-metre EV are expected to help it grow faster than the market