Page 33 - Company News

Nexus Select Trust's Q3FY26 net operating income rises 15% to ₹450 cr

The Mumbai-based real estate investment trust (Reit) reported a leased occupancy of 97 per cent across its assets for Q3 FY26

Apple hits record 28% value share as India's smartphone market goes premium

Tech giant Apple has recorded its highest-ever value share of 28 per cent in the Indian smartphone market, driven by a surging "premiumisation" trend where consumers are increasingly opting for high-end devices, according to a report by Counterpoint Research. The report highlighted a significant shift in the world's second-largest smartphone market, noting that while volume growth remains steady, the total market value is expanding at a much faster clip as Indian buyers trade up to more expensive models. According to Counterpoint's latest insights, Apple had a 23 per cent value share in India in 2024. The success of the iPhone 16 series, coupled with aggressive financing schemes and trade-in offers, has pushed the Cupertino-based company to its highest-ever value share in the country. "Apple led the market in 2025 in value terms with a 28 per cent share, as festival-led promotions and deeper channel expansion supported revenue growth. Apple's iPhone 16 ranked as the top-shipped mode

Budget 2026 boosts startups, MSMEs with ₹10,000 crore funds, credit push

FM Nirmala Sitharaman announced a ₹10,000 cr SME Growth Fund and additional credit and equity support for micro enterprises and startups to cushion them against global economic uncertainty

'India one of the fastest-growing large markets for Omnicom in the world'

Post its IPG acquisition, Omnicom is reshaping its India operations, betting on scale, talent continuity and AI as one of its fastest-growing global markets

Glenmark Q3 profit rises 15% on strong market performance; Revenue up 15%

Pharma major reports double-digit growth in Q3 as India and North America lead performance, though profit and revenue declined sequentially

Apple rebounds in China with biggest quarterly sales in four years

Apple's iPhone 17 fuels a $25.5bn quarter in greater China, marking a sharp rebound and record holiday sales for the tech giant

Nestle India sees strongest volume growth in 5 years; profit surges 45%

FMCG major reports 45.1% year-on-year jump in Q3 FY26 net profit, driven by volume-led sales growth, with confectionery and beverages leading performance

Bajaj Auto posts record Q3 revenue and profit as EVs fuel domestic growth

Two-wheeler maker records its highest-ever quarterly revenue and profit in Q3 FY26, aided by premium motorcycles, strong EV sales and a rebound in exports

EV maker Ola Electric to cut about 5% of workforce in restructuring

The Bhavish Aggarwal-led EV maker is pursuing a turnaround strategy focused on improving service delivery and increasing automation across front-end operations

PGHH Q3 profit rises 12% on operational efficiencies, product mix

Procter & Gamble Hygiene and Health Care reports steady Q3 performance as cost efficiencies and a favourable product price-mix help lift profit

Bank of Baroda Q3 net profit up 4.5% on lower provisioning, margin pressure

Bank of Baroda reports modest profit growth in Q3 FY26 as lower provisions offset pressure on margins from repo rate cut and higher deposit costs

Niva Bupa aims to turn profitable in Q4 FY26: CFO Mahendra Vishwanath

Health insurer expects profitability in the March quarter as impact of accounting norm changes eases, with Indian-GAAP numbers set to converge with IFRS

Dr Lal PathLabs Q3 net profit falls 6.4% on new labour code impact

Diagnostics major reports a one-time charge linked to new labour codes even as revenue rose over 10% on higher sample volumes and network expansion

BPCL seeks $10-12 per barrel discount on Venezuelan crude for viability

The refiner is now able to process heavy Venezuelan crude at its Kochi and Bina refineries, following upgrades that have enhanced the complexity of its refining system

IBM signs 10-year lease for 230,000 sq ft office space in Gurugram

US technology major leases space at Tata Realty's Intellion Park as demand for offices in tier-I cities stays strong and absorption continues to outpace new supply

ITC's Q3FY26 results: Net profit flat at ₹4,931.19 cr on labour Code impact

Firm says GST rate rejig, duty changes have led to an unprecedented increase in tax incidence on cigarettes

Brokerages expect Vodafone Idea's revival plan to hinge on bank loans

Indus Towers to be key beneficiary as telco is planning to increase tower footprint

Wipro banks on consulting business for deeper client engagement

Wipro rolls out a consulting-led, AI-powered operating model to deliver end-to-end enterprise transformation and faster ROI from digital and AI initiatives

Piramal Pharma flags early recovery signs in CDMO demand as Q3 loss widens

The company attributed the weaker performance largely to continued inventory destocking in one of its large on-patent commercial products, affecting its CDMO business

REC income grew in Q3, but net fell 0.6% to ₹4,052.44 cr; dividend declared

State-owned REC Ltd on Thursday said its consolidated net profit dipped slightly by 0.58 per cent to Rs 4,052.44 crore in the December quarter of FY26, mainly due to higher expenses. The company recorded a consolidated net profit of Rs 4,076.35 crore in the year-ago quarter ended December 2024, a regulatory filing showed. Total expenses rose to Rs 9,903.89 crore in the reporting quarter from Rs 9,105.94 crore in the same period a year ago. Total income also rose to Rs 15,058.60 crore in the quarter from Rs 14,286.91 crore a year ago. The board also approved the third interim dividend at 46 per cent (Rs 4.601 per equity share of face value of 10 each) for 2025-26. The record date for the dividend payment is February 6, and the payment shall be paid on or before February 27.