Page 37 - Company News

Google offers ad tech changes to settle €3 bn EU antitrust order

Despite the offer, the company said it still disagrees with the European Commission's September decision and plans to appeal

Hindustan Aeronautics revamp study to be ready by March next year

Govt ropes in BCG to conduct study in view of firm's growing order book

Jio Leasing invests ₹45 crore in Reliance International Leasing IFSC unit

Jio Financial Services Ltd (JSFL) on Friday said its subsidiary Jio Leasing Services Ltd has invested Rs 45 crore in Reliance International Leasing IFSC Pvt Ltd through a rights issue. Jio Leasing Services Ltd (JLSL) has subscribed to and has been allotted 4,50,00,000 or 8.1 per cent Cumulative Optionally Convertible Preference Shares (OCPS) of Rs 10 each of Reliance International Leasing IFSC Pvt Ltd, JSFL said in a regulatory filing. Reliance International Leasing IFSC Pvt Ltd is a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Ltd, a wholly owned subsidiary of Reliance Industries Limited. JLSL subscribed to the rights issue aggregating Rs 45 crore, it said. The aggregate investment made by JLSL in Reliance International Leasing IFSC Pvt Ltd till date is Rs 166.55 crore, it said. The investment is made to fund RILIPL's business operations, it said. The investment is a related-party transaction of JLSL and is on an arm's-length basis, it said. The ...

Varvee Global Q2 results: Profit rises 23% to ₹10.2 cr, revenue jumps 80%

Textiles manufacturer and exporter Varvee Global Limited on Thursday said its profit after tax jumped by 23 per cent in the July- September quarter to Rs 10.21 crore compared to Rs 8.2 crore in the year-ago period. The denim textile manufacturer's revenue from operations surged by nearly 80 per cent to Rs 27.83 crore in the second quarter of FY26 compared to Rs 15.47 crore in the year-ago period, reflecting stronger realisations and a richer mix, the company said in a statement. A sharp drop in finance cost to nearly nil and lower expenses in the second quarter boosted the profitability, the company said. "This is the first full quarter with the new leadership playbook at work where results are visible in the margin reset, the EBITDA swing, and the near-elimination of finance costs," Jaimin Gupta, Chairman & Managing Director, said. The company will focus on deepening high-margin product lines, tighten cash conversion, and maintain conservative funding while pursuing selective, ...

GCPL acquires Muuchstac in ₹450 cr deal; promoters to continue to run biz

FMCG major Godrej Consumer Products Ltd (GCPL) has completed the acquisition of Muuchstac in a Rs 450-crore deal and its promoters would continue to be in the driving seat, running the business. GCPL Managing Director and CEO Sudhir Sitapati, in a post on social media platform LinkedIn, said its founders "Vishal and Ronak will continue to run this business with GCPL supporting them". Moreover, GCPL, which is increasing its investment in high-margin categories, is looking for more new-age D2C businesses as Muuchstac. "If anyone else knows of a new-age D2C business with numbers as good as this one, please write a comment or DM me," said Sitapati. Last month, GCPL had announced the signing of a definitive agreement to acquire the FMCG business of Triology Solutions, operating primarily in the male grooming category with 'Muuchstac' brand via slump sale to "drive profitable growth". Muuchstac was founded in 2017 by two boys from Bhayander -- Vishal Lohia and Ronak Bagadia. "On 10 Nov

Jio urges Trai to adopt flexible net neutrality approach amid 5G evolution

Contending that net neutrality globally is evolving alongside market and tech advancements, Reliance Jio has urged TRAI to have a "flexible approach" to recognise traffic management and technology-centric innovations that are now possible with network slicing in 5G. Jio has told the telecom regulator that it is receiving proposals to launch tariff products based on network slicing technology under 5G Standalone. "With the stabilising of our 5G SA services across country, we are receiving proposals to launch tariff products based on network slicing technology under 5G SA. The sample proposals are for products for a defined upload speed slice and low latency gaming slice etc," Jio told Telecom Regulatory Authority of India, on the issue of Net Neutrality (that is the principle that all internet traffic should be treated equally) . Globally, Net Neutrality is evolving with market and technology scenarios, Jio said citing stance of regulators in markets such as the US and the ...

Tata Motors posts ₹867 cr loss in Q2, revenue rise 6% to ₹18,585 cr

The margin on earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at 11.4 per cent, up 140 basis points

Novo sticks to oral semaglutide amid rising demand for injectables

Novo Nordisk will strengthen its oral semaglutide portfolio led by Rybelsus while cutting Wegovy injection prices by up to 37% to improve accessibility and expand its market in India

Air India's losses 'dragged' down net profit in H1: Singapore Airlines

Singapore Airlines reported a 67.8% drop in H1 profit, citing Air India's losses and lower interest income as key factors

Billionaire Ranjan Pai's Manipal Group eyes Byju's parent in insolvency bid

The education and healthcare major has filed an EOI to join the resolution process for Think & Learn

Alkem Labs Q2 profit rises 11% on strong India, international sales

India sales grew 14% Y-o-Y to ₹2,766 crore in the September quarter, while international sales rose 29.5% to ₹1,189 crore, contributing 31.7% to overall revenue

Hero Future Energies inks ₹30K cr MoU with Andhra for 4 GW renewables

Hero Future Energies will invest ₹30,000 crore to develop 4 GW of renewable capacity in Andhra Pradesh, with state support for clearances and phased project execution across three districts

Supreme Court says govt must assess how IBC has worked in ten years

Hearing the Aircel-RCom spectrum dispute, SC said it is time for the Centre to evaluate whether the IBC is meeting its objectives, as arguments on spectrum ownership and insolvency reached a close

Birla Estate partners with Gujarat Titans as principal sponsor for IPL 2026

Aditya Birla Real Estate has partnered with Gujarat Titans as the principal sponsor for IPL 2026, aiming to strengthen brand presence and connect with fans across India through cricket

Eureka Forbes Q2 results: Profit rises 32% to ₹62.9 cr, revenue up 15%

Eureka Forbes Ltd, a health and hygiene product maker, on Thursday reported an increase of 31.77 per cent in its consolidated net profit to Rs 62.92 crore in the September quarter of FY26. The company had a net profit of Rs 47.74 crore in the July-September quarter a year ago, according to a regulatory filing by the firm, now controlled by private equity firm Advent International. Revenue from operations was up 14.7 per cent to Rs 772.07 crore during the September quarter of FY26. It stood at Rs 673.13 crore in the corresponding quarter a year ago. This is the "eighth successive quarter of double digit growth", said Eureka Forbes in its earnings presentation. Eureka Forbes' total expenses increased 12.55 per cent to Rs 693.0 crore in the September quarter on a year-on-year basis. Commenting on the results MD and CEO Pratik Pota said: "In an uncertain and evolving external environment, Q2 FY26 was an exciting milestone quarter for us. We delivered a strong revenue growth of 14.9 pe

Mondelez India launches Biscoff, targets top-three global market position

Mondelez India has introduced Lotus Biscoff cookies to expand its premium portfolio, aiming to make India a top-three global market as it begins local manufacturing and leads brand distribution

Ericsson opens R&D unit in Bengaluru to boost 5G development

Swedish telecom gear maker Ericsson on Thursday announced the establishment of a Radio Access Network (RAN) Software Research & Development (R&D) unit in Bengaluru. The facility will initially focus on developing advanced 5G features for Ericsson's 5G baseband, the company said in a statement. "Setting up the R&D Center in India for RAN software development represents a significant step towards strengthening our R&D operations in India. "Even as we leverage Indian software talent, we are also contributing to building the knowledge base and the telecom eco-system in the country," Nitin Bansal, Managing Director, Ericsson India and Head of Network solutions, Market Area South East Asia, Oceania and India, said. This facility is part of Ericsson's broader R&D expansion in Bengaluru and India, which includes enhancing its capabilities in Application-Specific Integrated Circuit (ASIC) development. With R&D centres in Chennai, Bengaluru, and Gurugram, Ericsson's ...

Patel Engineering Q2 results: Profit dips 12% to ₹64.7 cr, income rises 3%

Patel Engineering on Thursday reported an 11.73 per cent fall in consolidated net profit to Rs 64.7 crore for the September quarter, and a fundraising plan of Rs 500 crore. It had clocked a net profit of Rs 73.3 crore in the July-September period of FY25, the company said in an exchange filing. The company, however, increased its income to Rs 1,271.6 crore in the second quarter, from Rs 1,230.9 crore in the year-ago period. For April-September FY26, the company saw its net profit grow by around 20 per cent to Rs 144.7 crore, from Rs 121.1 crore in the six-month period of the previous fiscal. The board has also approved a rights issue of equity shares to raise Rs 500 crore. During the second quarter, Patel Engineering received a Rs 240 crore order from state-owned NHPC for civil and hydro-mechanical works at the Teesta-V project in Sikkim, bringing the total new orders received in H1 FY26 to Rs 2,500 crore. As of September 30, the company said its order book touched Rs 15,146 ...

Ashtech Group forays into real estate with ₹1,800 cr Greater Noida project

Realty firm Ashtech Group, which is into construction materials and infrastructure development, has entered into the real estate business and will develop around Rs 1,800 crore to build a luxury housing project in Greater Noida. The company's first project will be developed on a fully paid-up 5.6-acre plot, which it acquired from the authority for around Rs 300 crore, Ashtech said in a statement on Thursday. Sumit Agarwal, Director of Ashtech Group, said the company has been in allied sectors such as fly ash bricks, AAC Blocks, Ready-mix concrete (RMC), Pre-Engineered Building, large-scale infrastructure, and power infrastructure. "We believe this is the right time to extend our expertise to real estate development," he added. The company will soon launch the first phase of the upcoming project. Delhi-NCR-based Ashtech Group, which posted Rs 500 crore turnover last fiscal, plans to launch more projects in the coming years. The real estate sector has been performing exceedingly we

Aether Industries Q2 results: Profit rises 55% to ₹53.95 cr, revenue up 38%

Speciality chemicals manufacturer Aether Industries on Thursday reported 55.07 per cent growth in consolidated profit after tax at Rs 53.95 crores during the September quarter. The company's PAT stood at Rs 34.79 crores in the year-ago period, Aether Industries said in a regulatory filing. Revenue from operations of the company grew 38.44 per cent to Rs Rs 275.1 crore during the quarter under review compared to Rs 198.79 crore in the same period of the previous year. "The growth in the first half of 2025-26 has laid the foundation for a solid second half for FY26. We continue to invest in process innovation, customer partnerships, and capacity ramp-up, supported by a disciplined financial approach," Aether Industries Co-Founder and Director Rohan Desai said.