Page 44 - Company News

L&T appoints former G20 Sherpa Amitabh Kant as independent director

Infrastructure major Larsen & Toubro (L&T) on Wednesday said its board has approved the appointment of former G20 Sherpa and NITI Aayog CEO Amitabh Kant as a non-executive, independent director of the company. Kant has been appointed for a term of five years with effect from Wednesday. "The board of directors of the company at its meeting held today, i.e., October 29, 2025, have approved the... appointment of Amitabh Kant as a non-executive, Independent Director (Additional Director) of the company for a term of 5 years with effect from October 29, 2025, up to and including October 28, 2030, subject to approval of shareholders of the company," Larsen & Toubro said in a filing to the BSE. Last month, IT services company HCL Technologies had announced the appointment Kant as an independent director. In September, IndiGo also appointed him as an additional director on its board after receiving security clearance from the civil aviation ministry. Canadian billionaire Prem ...

Boeing delays 777x jet to 2027, takes $5 billion charge amid setbacks

Last month, CEO Kelly Ortberg said the company was behind schedule in certifying the jet, saying a 'mountain of work' needed to be done

United Breweries Q2 profit declines 65% to ₹46 crore on weak beer sales

United Breweries Ltd on Wednesday reported a 65 per cent decline in consolidated net profit to Rs 46.34 crore in the September quarter impacted by unusual monsoon hitting beer sales. The company had posted a consolidated net profit of Rs 132.33 crore in the second quarter of the previous fiscal year, United Breweries Ltd (UBL) said in a regulatory filing. Consolidated revenue from operations during the quarter stood at Rs 3,737.31 crore compared to Rs 4,743.56 crore in the corresponding period a year ago, it added. Total expenses in the quarter under review were lower at Rs 3,686.37 crore as compared to Rs 4,575.68 crore, the company said. UBL said its "total volume declined 3.4 per cent in Q2, with growth in mainly Maharashtra, Andhra Pradesh and Assam more than off-set by adverse weather across our footprint as well as stock-building in Q2-FY25 following the peak season impacted by national elections". Premium volume grew 17 per cent in the quarter, it added. The company said i

GMB, APM Terminals Pipavav ink ₹17,000 crore MoU to boost Gujarat ports

The Gujarat Maritime Board (GMB) and private entity Gujarat Pipavav Port Ltd on Wednesday signed a Memorandum of Understanding (MoU) for an investment of Rs 17,000 crore here with the aim to strengthen the maritime sector of Gujarat. Chief Minister Bhupendra Patel and A P Moller-Maersk Board Chairman Robert Maersk Uggla were present on the occasion. Pipavav Port or APM Terminals Pipavav, partly owned by A P Moller-Maersk, is a major private port located near Rajula in Amreli district of Gujarat, while the GMB is a government agency that manages and regulates ports in the state. "The objective of this MoU is to further strengthen the maritime sector of Gujarat through the capacity expansion of Pipavav Port," stated an official release. This project will create about 25,000 direct and indirect employment opportunities, giving new impetus to the local economy and improving the standard of living in rural areas, it said. "It will increase the existing container, bulk, liquid and Ro-Ro

LIC Housing Finance Q2 profit up 2% to ₹1,354 crore on higher income

LIC Housing Finance on Wednesday reported a marginal 2 per cent improvement in September quarter net profit to Rs 1,354 crore on a standalone basis. The company promoted by life insurance behemoth LIC had posted a net profit of Rs 1,329 crore in the year-ago period. Total income of the mortgage entity rose to Rs 7,170 crore during the quarter from Rs 6,932 crore in the year-ago period, LIC Housing Finance said in a regulatory filing. During the quarter, the interest income improved to Rs 7,034 crore as compared to Rs 6,853 crore in the same quarter a year ago. Total expenses during the quarter increased to Rs 5,465 crore from Rs 5,267 crore in the same period in the previous fiscal year. With regard to asset quality, the company was able to reduce gross non-performing assets (NPAs) to 2.51 per cent of the gross loans by the end of September 2025 from 3.05 per cent a year ago. Similarly, net NPAs, or bad loans, too, declined 1.19 per cent from 1.57 per cent at the end of the secon

Yes Bank lost over ₹2,700 crore in deals with Anil Ambani firms: CBI

Yes Bank suffered a loss of over Rs 2,700 crore due to the "unilateral decision" of its co-founder Rana Kapoor to invest in the Anil Ambani-led financial companies, said the CBI's charge sheet in a case pertaining to alleged fraudulent transactions between the bank and the industrialist's group entities. The Central Bureau of Investigation (CBI) last month filed a charge sheet against 13 people and entities, including Anil Ambani, Rana Kapoor and his family members, alleging criminal conspiracy, cheating and corruption related to loans and investments. The Federal probe agency's document said that further investigation was on regarding the role of Anil Ambani's son Anmol Ambani, the then executive director of Reliance Capital, in the case. The case is based on two separate complaints lodged by the Chief Vigilance Officer of Yes Bank. As per the charge sheet, the bank -- when Rana Kapoor was its managing director and chief executive officer -- made investments of Rs 5,010 crore in

Too much liberalisation of flying rights may hurt Indian airlines: A-I CEO

Air India chief Campbell Wilson on Wednesday said the pace of liberalisation of bilateral flying rights should not be "too much" that it undercuts the investments by Indian airlines and other aviation players. India is one of the world's fastest growing civil aviation markets, and various foreign carriers, especially from the Gulf, have been raising concerns that the country is not providing more bilateral rights as they look to tap the market potential. The Tata Group-owned Air India is working on revamping and expanding its fleet to offer more services amid rising air traffic demand. According to Wilson, around 95 per cent of the traffic that Indian airlines carry is terminating or originating in India. "For some of the other carriers, upwards of 60 per cent, 70 per cent and in some cases 90 per cent of what they are uplifting from India is transiting and going somewhere else. "And to the extent that Indian carriers have invested tens of billions of dollars in wide-body aircraft

Nvidia storms past $5 trillion valuation as AI boom powers meteoric rise

Since the launch of ChatGPT in 2022, Nvidia's shares have climbed 12-fold as the AI frenzy propelled the S&P 500 to record highs

E-commerce giants adopt fiscal discipline to trim losses, stave off rivals

Firms are tightening spending, optimising supply chains, and expanding into smaller cities, positioning themselves for public listings as post-pandemic demand growth slows

Cognizant Q3 profit up 7.3% to $5.4 billion, raises full-year outlook

US-based IT major Cognizant, which has a substantial number of employees in India, on Wednesday reported a better-than-expected growth with its revenue rising 7.3 per cent year-over-year to USD 5,415 million for the quarter ended September 2025. In the last quarter, the company had guided its third-quarter revenue to be between USD 5.27-5.35 billion. Cognizant which follows a January-December financial year had earned a revenue of USD 5,044 million in Q3 2024. The Nasdaq-listed IT services firm raised the lower end of its full-year revenue growth forecast, pegging it at USD 21.05-21.10 billion, as against USD 20.7-21.1 billion earlier. Cognizant CEO Ravi Kumar S said this marks the company's fifth consecutive quarter of year-over-year organic revenue growth, and its strongest sequential organic growth since 2022. We maintained our large deal momentum, signing six large deals in the quarter, bringing our year-to-date total to 16, with 40 per cent growth in large deal TCV (Total ..

Microsoft CEO Satya Nadella to visit India in Dec for AI conference: Report

Nadella will also likely meet key customers and India employees during his visit, the second source said. Microsoft has more than 20,000 employees across 10 Indian cities

Etsy names insider Kruti Goyal as new CEO, forecasts weak core sales

For the third quarter, Etsy posted GMS of $2.72 billion, down from last year's $2.92 billion and market estimate of $2.76 billion, per three analysts on LSEG

Akasa Air plans IPO within 2-5 years, to restart pilot hiring next year

Loss-making Akasa, India's third largest airline, has not had enough work for pilots due to delayed deliveries from Boeing

BHEL Q2FY26 results: profit triples to ₹375 cr; revenue rises to ₹7,686 cr

State-owned Bharat Heavy Electricals Ltd (BHEL) on Wednesday said its consolidated net profit more than tripled to Rs 374.89 crore in the September quarter compared to a year ago, mainly on the back of higher revenues. The company had a consolidated net profit of Rs 106.15 crore in the quarter ended on September 30, 2024, a regulatory filing showed. Total income of the company rose to Rs 7,686.41 crore in the quarter from Rs 6,695.37 crore in the same period a year ago.

Goldi Solar raises ₹1,422 crore from investors to boost capacity expansion

Gujarat-based Goldi Solar, which looks to increase domestic solar module capacity, has raised over Rs 1,400 crore in funding from a clutch of investors, including Havells India and Zerodha co-founder Nikhil Kamat. "The amount raised from our investors will be utilised to support our future capacity expansion plans in the country," Goldi Solar founder and Managing Director Ishver Dholakiya said in a telephonic conversation. The funding has been closed over a period of six months after an evaluation, he said. In a statement, Goldi Solar said it has secured a landmark growth capital infusion led by Havells India, alongside a distinguished consortium of high-net-worth individuals (HNIs), institutional, strategic, and prominent investors. The company has raised a total of Rs 1,422 crore from multiple investors, which includes consumer electrical goods maker Havells India and Kamath, who is the co-founder of the brokerage Zerodha. Other prominent investors and family businesses are Ambi

Nvidia nears record $5 trillion valuation as AI boom fuels rapid growth

A $5 trillion valuation would also mean Nvidia's market value will exceed that of the entire cryptocurrency market and equal about half the total value of the pan-European Stoxx 600 index

M&M to partner with Samsung to launch digital keys for electric SUVs

Mahindra & Mahindra and Samsung have collaborated to develop digital keys for electric SUVs, integrated with Samsung Wallet, thereby eliminating the need for physical keys, a senior official of the Korean electronics giant said on Wednesday. Samsung India, senior director for services and apps business, Madhur Chaturvedi said Mahindra is the first Indian automobile firm to have taken the initiative, while Samsung Wallet supports the digital keys feature of foreign companies like BMW, BYD, and Mercedes-Benz in India. The service will be available for Samsung Wallet users on Galaxy Z and S series devices. Mahindra became the first Indian automobile company to collaborate with Samsung for digital keys. "We are very delighted that Mahindra is the first Indian auto OEM brand where we are integrating the digital car key feature with Samsung Wallet. Also, we have support for digital home keys with brands like Yale, as well as Samsung's own lock solution that's available in multiple ...

Suzuki to launch 8 SUVs, boost India production to regain market share

Suzuki wants to be the biggest seller of electric cars in India and maintain its lead as the country's biggest car exporter, company president Toshihiro Suzuki said

Starlink to conduct security, technical demo runs in Mumbai on Oct 30-31

Elon Musk-led Starlink is scheduled to conduct demo runs on October 30 and 31 in Mumbai to show compliance with security and technical conditions for satellite broadband services, sources said. The demo, to be done before law enforcement agencies, will be based on the provisional spectrum assigned to Starlink, sources told PTI. The move would mark a significant step ahead of its planned entry into the Indian satellite broadband market, as these demos are an essential requirement for Starlink to secure clearances before it can launch commercial services. Sources said Starlink will run a demo to show compliance with the security and technical conditions of GMPCS authorisation. This will be conducted in Mumbai on October 30 and 31, sources added.

Radico Khaitan Q2 profit up 73% to ₹140 cr, revenue rises to ₹5,057 cr

Liquor maker Radico Khaitan Ltd on Wednesday reported a 73 per cent jump in consolidated net profit to Rs 139.56 crore in the September quarter, on the back of robust volume growth. The company had posted a consolidated net profit of Rs 80.66 crore in the same quarter last fiscal, Radico Khaitan said in a regulatory filing. Consolidated revenue from operations in the second quarter stood at Rs 5,056.72 crore as against Rs 3,906.59 crore in the corresponding period a year ago, it added. Total expenses in the quarter under review were higher at Rs 4,872.75 crore as compared to Rs 3,795.84 crore in the year-ago period, the company said. In the second quarter, total IMFL volume grew by 37.8 per cent to 9.34 million cases; 'prestige & above' segment by 21.7 per cent to 3.89 million cases; and 'regular & others' category by 79.6 per cent to 5.04 million cases, Radico Khaitan said in an investor presentation. Radico Khaitan Chairman & Managing Director Lalit Khaitan said, ...