Page 4 - Company News

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

BP names interim chairman Ian Tyler as chair with immediate effect

Tyler, who joined BP's board as a non-executive director in April 2025, has served as interim chairman since May and will take over the role with immediate effect

Juspay rolls out platform to improve brand discovery across AI interfaces

Breeze Universal connects brands' product catalogues with AI interfaces, allowing shoppers to discover, compare and purchase products within a single conversation

Berkshire CEO Greg Abel sees opportunity for energy business from AI

Abel said ​Berkshire's energy business could ‌also benefit from AI growth, given the ‌amount of electricity needed to run data centers.

Denmark's Novonesis to invest ₹6,600 cr in Maha for enzyme plant expansion

Danish biosimilars producer Novonesis on Wednesday announced a Rs 6,600 crore investment in Maharashtra's Patalganga to expand an enzyme plant over the next four years. Expected to be fully operational by 2030, the expanded facility will produce enzymes for a broad range of industries, including biofuels, household care, and food and beverages, as per an official statement. The facility will help it meet increasing demand from emerging markets, including those in the Middle East, Africa, India and South Asia, its president and chief executive Ester Baiget said. "These markets represent an important and growing part of the company's business and are expected to grow faster than developed markets in the coming years," Baiget added. Its chief operating officer, Anders Lund, said the Patalganga facility will get it closer to customers and also help strengthen its scale, operational resilience, efficiency, and supply flexibility. In the past, it has invested in plant expansions in ...

Tata Elxsi inks pact with Sarla Aviation to make air taxi platform Shunya

Design and technology services firm Tata Elxsi on Tuesday said it has signed an initial pact with startup Sarla Aviation to collaborate on the development of the Bengaluru-based firm's air taxi platform Shunya. Under the collaboration, Tata Elxsi will provide engineering support across avionics, including flight control systems, software integration, testing, verification and validation, and certification. On the other hand, Sarla Aviation will lead the design, development and type certification of the Shunya platform, the company said. The engagement also creates opportunities to extend support across sensor fusion-based navigation software, industrial and structural design, and airworthiness test support, it added. "Every major shift in transportation has been enabled by a combination of engineering innovation and ecosystem readiness. Advanced air mobility is no different, and Sarla Aviation's vision for Shunya reflects the ambition driving this transformation. "Initiatives like

Amazon Now plans to expand quick-commerce footprint to 300 cities soon

Amazon's quick commerce business unit, Amazon Now, plans to expand its footprint to 300 cities nationwide soon, a top company official said on Tuesday. "We are expanding very rapidly. We have a path to expand to about 300 cities very, very soon," Nishant Sardana, Director - Amazon Now, told PTI here. Amazon Now, launched in January, 2025, is currently operates in about 30 cities. Without specifying a timeframe for realising the plan to enter 300 cities, Sardana said the company is "quadrupling" its efforts to make it happen as fast as it can. Since its launch, Amazon Now has been doing very well, growing about 20-25 per cent month-on-month, he said. The quick commerce industry in the country is estimated to be about USD 20 billion a year, he said, without commenting on Amazon Now's share in it. Amazon Now has invested Rs 2,800 crores, largely on setting up infrastructure and "partner safety and well-being," he said. Sardana noted that Amazon Now currently has 650 Micro-Fulfillme

UBL sees positive demand momentum in Q2, invests ₹110 cr in Maha brewery

United Breweries Ltd (UBL) continues to see positive demand momentum in the first two months of the ongoing second quarter, driven by growth in premium brands, according to its Managing Director and CEO, Vivek Gupta. UBL has maintained its FY27 outlook of double-digit revenue growth, with the premium brands portfolio expected to grow over 20 per cent, despite an estimated Rs 300-350 crore cost impact from the ongoing war-related disruptions this fiscal, he said on Tuesday. When asked about the demand in the first two months of the September quarter, he said, "We just closed the second month. I can say we continue to see positive momentum." On the premiumisation front, the company has announced the expansion of Heineken Silver into three new states Madhya Pradesh, Odisha and Kerala. The brand is growing at over 40 per cent nationally, Gupta said, adding that the company continues to see strong momentum behind it. The owner of Heineken and Kingfisher beer brands, which reported a 1

NSHIPOL gets in-principle nod for ₹24,700 cr Odisha shipbuilding cluster

The proposed Kendrapara cluster will have shipyards with a combined capacity of around 1.2 million gross tonnes a year and an integrated heavy industries ecosystem

Brigade Enterprises forays into Coimbatore housing, eyes ₹600 cr revenue

Realty firm Brigade Enterprises Ltd on Monday said it has launched its first housing project in Coimbatore for sale and expects a total revenue of Rs 600 crore from this upcoming property. In a regulatory filing, the Bengaluru-based company said it will build a 5.4-acre residential project in Coimbatore, Tamil Nadu, through a Joint Development Agreement (JDA). The total revenue potential of this project is around Rs 600 crore. Pavitra Shankar, Managing Director of Brigade Enterprises, said, "Coimbatore has all the fundamentals of a high-growth real estate market: a diversified economy, a deep talent pool, strong social infrastructure and a robust pipeline of infrastructure investments." She said the demand for quality real estate is set to accelerate. "Our entry into Coimbatore is a strategic step in Brigade's growth journey across South India, and we are excited to bring our multi-domain development expertise to a market that is poised for its next phase of transformation," Shank

Ather Energy invests ₹500 crore to develop Konarc, new scooter platform

Electric two-wheeler maker Ather Energy on Saturday said it has invested over Rs 400-500 crore to develop its latest scooter platform EL and its first mass-market e-scooter Monarc. Earlier, the company launched Monarc at a starting price of Rs 99,999 (ex-showroom Bengaluru) in three variants, S100, S125 and S160, with a host of new features, with deliveries of the vehicle commencing from September. The company also said a 200 km version of Ather S and a feature-loaded Z version with a 125 km IDC (Indian Driving Cycle) range are also in the pipeline. The EL platform added the latest features like onboard charging, AeBS and 10,000km service intervals. "This would be the largest investment to date on a new product. I would say this will be an easy Rs 400-500 crore investment between the platform and the product (or) likely more," Ather Energy co-founder and CEO Tarun Mehta told PTI at the 4th edition of Ather Community Day hosted in Bengaluru on Saturday. The latest vehicle architec

HDFC Bank may resort to interim arrangement till it gets a regular CEO

Among internal candidates, Bharucha still has more than two years as board member

Tata Chemicals acquires US soda ash contracts worth over 500,000 tonnes

Tata Chemicals Ltd on Saturday said its wholly-owned US subsidiary, Tata Chemicals North America, has acquired North American soda ash customer contracts worth more than 5,00,000 metric tonnes for supply from September 2026 through December 2028. Tata Chemicals North America Inc (TCNA) entered into an Assignment and Assumption Agreement (ASA) with Searles Valley Minerals Inc (SVM) USA to acquire certain soda ash customer contracts and related commercial rights, Tata Chemicals Ltd (TCL) said in a statement. TCNA has been declared the successful bidder in the Chapter 11 bankruptcy proceedings of SVM USA. The transaction has been approved by the United States Bankruptcy Court for the District of Delaware with a cash consideration of USD 21.16 million and remains subject to customary closing conditions under the ASA. These contracts are expected to generate revenues of more than USD 110 million over the contract period. "This acquisition represents a strategic opportunity to strengthe

HDFC Bank CEO Jagdishan not seeking reappointment, to retire in October

HDFC Bank MD & CEO Sashidhar Jagdishan will retire on October 26, 2026, after deciding not to seek reappointment, the bank said

Peyman Kargar to take the reins at TVS Motor as CEO and director

TVS Motor has appointed Peyman Kargar as CEO from January 2027, with K N Radhakrishnan continuing until then and subsequently serving as a non-executive director

Blackstone to sell $1.25 billion stake in India's Knowledge Realty Trust

The investor will sell up to 11.1 million units representing 25.03% stake on Aug. 31 for non-retail investors and Sept. 1 for retail investors, according to a filing.

Purple Style Labs collects ₹306 cr from anchor investors; IPO opens Aug 31

Purple Style Labs Ltd, the parent company of Pernia's Pop-Up Shop, on Friday raised Rs 306 crore from anchor investors ahead of its Rs 680-crore initial public offering (IPO), which will open for subscription on August 31. The company has allotted 53.22 lakh equity shares to 10 anchor investors at Rs 575 per share, according to a circular uploaded on BSE's website. Some of the investors participating in the anchor book include ICICI Prudential Mutual Fund, Jupiter India Fund, Aditya Birla Sun Life Insurance Company Ltd, ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia) Pte Ltd, Morgan Stanley Asia (Singapore) Pte and BoFA Securities Europe SA ODI. The IPO will open on August 31 and close on September 2. The IPO comprises a fresh issue of equity shares aggregating up to Rs 680 crore, with no offer-for-sale component. The price band for the issue has been fixed at Rs 546-575 per share. At the upper end of the price band, the issue values Purple Style Lab

ANHVL to invest ₹2,200 crore to expand bed capacity to 2,500 in 4-5 years

Ambuja Neotia Healthcare Venture Ltd (ANHVL) has earmarked an investment of around Rs 2,200 crore to expand its footprint across eastern India over the next four to five years, a top company official said on Friday. It will add close to 1,800 beds to take the total capacity to 2,500 beds, Managing Director Parthiv Neotia said. As part of the expansion, the healthcare arm of the Ambuja Neotia Group announced an investment of around Rs 150 crore to set up a 120-bed woman and child care facility in Howrah under its flagship Neotia Bhagirathi Woman and Child Care Centre network, which is expected to become operational by April 2029. "Our existing four healthcare facilities have 700 beds, and we identified Howrah as a key growth corridor with a growing need for specialised women and child healthcare services," Neotia said. He said the new centre aims to bring advanced clinical expertise and comprehensive maternal, neonatal, and paediatric care closer to local families, reducing the need

Dream11 pulls from fantasy games to build global sports engagement platform

Dream11 on Thursday said it has moved away from pure-play fantasy sports to building a global sports engagement platform. Dream11 was India's biggest fantasy game company before the government imposed a blanket ban on the category a year ago. "Dream11 today completes its pivot away from pure-play fantasy sports to becoming a global sports engagement platform. It has discontinued all prizes to focus only on sports content, live streaming, stats, scores, commentary, community, experiences, and social contests," the company said in a statement. The statement said Dream11 will be transitioning to an AI-first platform, building a highly personalised experience for users based only on their favourite sports, leagues, teams and players. The platform will also be multi-sport, addressing a global gap and positioning itself as a single destination for sports fans worldwide, the statement said.