Page 34 - Company News

Real-estate major Prestige group may look at Reit as office rentals rise

Land prices remain key factor

Axis Bank to infuse ₹389 crore in Axis Max Life to meet funding needs

Axis Bank has received the requisite approval from the Reserve Bank of India (RBI) for the said infusion

Mercedes-Benz drives past West Asia war turmoil with Q1 India growth

Strong demand for top-end luxury cars and EVs helps the carmaker post 5% sequential growth despite volatility, currency pressure and rising import costs

Amazon considers selling in-house AI chips to firms amid demand surge

The disclosure offers a rare glimpse into the scale of Amazon's in-house chip operation, which produces general-purpose computing and AI accelerators

Distributors' body writes to PM on Zepto's IPO, flags its impact on trade

AICPDF raises concerns over quick-commerce expansion, seeks review of Zepto IPO and safeguards for traditional FMCG distribution network

OpenAI releases new policy blueprint to prevent digital child abuse

Framework targets AI-generated abuse content, strengthens reporting systems and embeds safety-by-design measures to detect and prevent misuse, initially focusing on child protection in the US

HoABL launches 1% payment plan to boost Naigaon housing demand near Mumbai

HoABL introduces a 1% monthly payment plan for its Naigaon project to reduce upfront costs, improve loan access, and attract entry-level homebuyers amid affordability concerns

Policybazaar Insurance Brokers appoints Sajja Praveen Chowdary as CEO

Chowdary joined PB Fintech Group in 2011 and has led multiple verticals over a period of time, and currently heads "Policybazaar for Business"

Ather Energy doubles its experience centre network to 700 last fiscal

Electric two-wheeler manufacturer Ather Energy on Thursday said it almost doubled the number of its Experience Centres (ECs) to over 700 across India in the just-concluded financial year. This rapid expansion has played a key role in driving Ather's growth across markets, improving accessibility and enabling the company to scale across both existing and new markets, the company said. Ather said it has added over 350 new Experience Centres, effectively doubling its retail network from 351 centres in India as of March 31, 2025. Over the past year, the company said, its expanded retail footprint has helped the company reach a much wider set of customers, contributing to its national market share rising to 18.7 per cent in March 2026, according to Vahan data. "The last year has been about scaling our retail footprint as a key lever for growth. While we've increased our Experience Centre count across all geographies, the expansion in Middle India and to some degree in Rest of India has

TCS renews multi-year partnership with UK retailer Marks & Spencer

IT major to support Marks & Spencer's AI-led digital transformation as the retailer accelerates its omnichannel strategy and invests in future-ready technologies

Magicpin raises Rs 15 cr debt from Stride Ventures to deepen AI play

The venture debt route allows Magicpin to raise capital without significant equity dilution

Vedanta chief Anil Agarwal calls for scale, policy push in iron ore mining

Vedanta Chairman Anil Agarwal calls for scaling up iron ore production and policy reforms to support India's 300 mt steel capacity ambition

Hilton to open 125 Hampton hotels across India under franchise deal

Hilton signs franchise agreement with Royal Orchid Hotels to launch 125 Hampton hotels across India, strengthening its presence in the midscale hospitality segment

Max Healthcare acquires 58.4% stake in Kalinga Hospital for ₹300 crore

Max Healthcare enters eastern India with Kalinga Hospital acquisition, adding 250 beds and expanding its network through a Rs 300 crore deal

Future Consumer reports ₹615 crore default on loans, interest payments

Future Consumer Ltd (FCL) has defaulted on the payment of Rs 615.67 crore in interest and principal repayments on loans from banks, financial institutions, and unlisted debt securities, as of March-end 2026. FCL, the FMCG arm of the debt-ridden Future Group, had defaulted on the payment of Rs 325.26 crore loans and revolving facilities, like cash credit from banks and financial institutions, as of March 31, 2026. This includes both bank repayment and interest default, according to a regulatory filing by the company. The firm has an outstanding total default of Rs 290.41 crore, over loans from unlisted debt securities -- NCDs and NCRPs, for the same period. This includes a principal outstanding of Rs 158.82 crore and accrued interest of Rs 131.59 crore. FCL said the "company is planning/working for asset monetisation and debt reduction over the period in this year". FCL is in the business of manufacturing, branding and distributing FMCG food and processed food products. It was par

MMTC-PAMP launches first organised silver buyback service across cities

Bullion refiner MMTC-PAMP on Wednesday launched what it called the industry's first organised buyback programme for silver coins, bars and jewellery, initially covering seven cities before a planned nationwide rollout. The service will begin at select exclusive brand stores and purity verification centres in Kolkata, Bhubaneswar, Guwahati, Ludhiana, Ahmedabad, Mumbai, and New Delhi, with an expansion across all its stores planned for the next fiscal year. MMTC-PAMP currently operates 17 gold recycling stores in India and aims to extend its silver buyback service across these centres. Customers can have their silver products melted and tested using XRF technology under security surveillance at the company's purity verification centres. Payment will be made directly to a designated bank account based on prevailing market buyback rates, the company said in a statement. "Indian households collectively hold approximately 35,000 tonnes of gold and much more silver. While silver mine ...

Japan's MUFG Bank acquires 20% stake in Shriram Finance for ₹39,618 cr

Japan's MUFG Bank on Wednesday acquired 20 per cent stake in Shriram Finance Ltd (SFL) for Rs 39,618 crore. The transaction represents the largest cross-border investment in India's financial services sector. "This follows the approval by SFL's Board of Directors, at its meeting held today, of the allotment of equity shares to MUFG Bank through a preferential issue," SFL said in a statement. MUFG Bank has subscribed to 471,121,055 equity shares at an issue price of Rs 840.93 per share, with the total investment amounting to approximately Rs 39,618 crore, it said. The investment has been undertaken after obtaining all requisite regulatory and statutory approvals, including approval from the Competition Commission of India. Upon completion of the allotment, MUFG Bank will hold a 20 per cent equity stake in SFL on a fully diluted basis, it said. It further strengthens MUFG's presence in India and enables SFL to leverage MUFG's global expertise and capabilities to accelerate its long

Hilton, Royal Orchid tie up to open 125 'Hampton by Hilton' hotels by 2035

Global hospitality major Hilton on Wednesday announced the signing of a strategic agreement with Regenta Hotels Private Limited, owned by Royal Orchid Hotels Limited, for opening 125 'Hampton by Hilton' hotels across western and southern India by 2035. The partnership accelerates Hilton's upper mid-scale expansion in India, where rising domestic travel and growing demand from the country's expanding middle class are driving strong opportunities in the mid-market segment. The franchised hotels will primarily be developed across western and southern markets, including Goa, Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh and Telangana, joining more than 3,100 Hampton by Hilton properties operating globally. Alan Watts, President, Asia Pacific, Hilton, said, "India's economic growth, expanding middle class and rapid infrastructure development are reshaping the country's travel landscape, creating significant opportunities for our brands. Our new strategic partnership with the Regenta

Trading ban upends State Bank of India's $5 billion short, forces unwind

State Bank of India (SBI) is estimating losses of about ₹3 billion ($32 million) from the forced unwinding of these trades, the people said, asking not to be identified discussing confidential details

CCI okays Torrent Power's proposal to acquire Nabha Power from L&T's arm

Fair trade regulator Competition Commission of India has cleared Torrent Power's proposal to acquire 100 per cent stake in Nabha Power Ltd. The move came after Torrent Power, in February 2026, said it entered into an agreement with L&T Power Development to acquire 100 per cent equity stakes in Nabha Power for an enterprise value of Rs 6,889 crore. "The proposed combination entails the acquisition of 100 per cent equity shares and non-cumulative optionally convertible redeemable preference shares (on a fully diluted basis) in Nabha Power Ltd by Torrent Power Ltd from L&T Power Development Ltd," the regulator said in a release on Tuesday. Torrent Power is engaged in the business of power generation, transmission, distribution and manufacturing and supply of power transmission cables, and is a part of 'Torrent Group,' which is into power, pharmaceuticals and gas distribution sectors. Nabha Power Ltd is a wholly-owned subsidiary of L&T Power Development Ltd (L&TPDL), and .