Page 45 - Company News

DCM Shriram Q2 profit more than doubles to ₹159 cr, revenue at ₹1,108 cr

DCM Shriram Ltd has reported a 2.5-fold jump in its consolidated net profit to Rs 158.72 crore for the second quarter of this fiscal. Its net profit stood at Rs 62.92 crore in the year-ago period. DCM Shriram Ltd is involved in diversified businesses across chemicals, vinyl, agriculture, and building materials. The total income rose to Rs 3,531.26 crore during the July-September period of 2025-26 from Rs 3,183.98 crore in the corresponding period of the preceding year, according to a regulatory filing on Tuesday. The revenue of the chemicals and vinyl verticals grew to Rs 1,108.40 crore from Rs 777.36 crore. During the last fiscal year, DCM Shriram had posted a net profit of Rs 604.27 crore on a total income of Rs 12,883.46 crore.

Workers reject Boeing's latest offer after nearly three months on strike

In September, IAM members approved the union's proposed four-year contract. However, Boeing management has refused to consider the offer

OVL seeks legal advice after US sanctions oilfield with Indian stake

ONGC Videsh Ltd has sought legal opinion after the United States imposed sanctions on a Russian oilfield in which a consortium of Indian companies holds a 49.9 per cent stake, sources said. US President Donald Trump on October 22 announced new sanctions against two of Russia's largest oil companies, Rosneft and Lukoil, in a bid to pressure Moscow into ending its war with Ukraine. As part of these, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) designated a number of Russia-based Rosneft and Lukoil subsidiaries in which they, directly or indirectly, held a 50 per cent or more stake. The list of subsidiaries thus blocked includes CJSC Vankorneft, in which OVL has a 26 per cent stake, and an Indian consortium comprising Oil India Ltd (OIL), Indian Oil Corporation (IOC) and Bharat PetroResources Ltd, which holds 23.9 per cent. The remaining 50.1 per cent is with Rosneft. While a plain reading of the OFAC sanctions indicates that the restrictions do not appl

Novartis nears deal to acquire Avidity Biosciences for over $70 per share

Avidity rose 1.2% to close at $49.15 in New York trading Friday, giving the company a market value of about $6.8 billion

Warner Bros heads for sale as Hollywood fears end of iconic studio

Warner Bros. has been sold and resold over the decades. AT&T gained control in 2018 as part of its $85.4 billion purchase of Time Warner. Discovery, a cable television company, took over in 2022

Hindustan Coca-Cola Beverages FY25 profit slumps 73% to ₹756 crore

Hindustan Coca-Cola Beverages Ltd, the bottling arm of beverage major Coca-Cola in India, reported a 73 per cent decline in net profit to Rs 756.64 crore in FY2024-25. Its revenue from operations dropped by 9 per cent to Rs 12,751.29 crore, according to a regulatory filing by the company. Its total income, which includes other income, was up 9.63 per cent to Rs 12,864.36 crore for the financial year ended on March 31, 2025, according to financial data accessed through the business intelligence platform Tofler. Hindustan Coca-Cola Beverages Ltd (HCCBL) net profit was at Rs 2,808.31 crore and its revenue from operations was at 14,021.55 crore in the year-ago period. The company had a higher base in FY24 due to gains resulting from the divestment of its bottling operations in Rajasthan, Bihar, the North-East, and parts of West Bengal to its existing bottlers - Kandhari Global Beverages, SLMG Beverages, and Moon Beverages, respectively - on a going concern basis through a slump sale.

Bajaj Auto unit gets regulatory nod in Austria to control Pierer Mobility

Bajaj Auto on Friday said the Austrian Takeover Commission has approved its subsidiary's acquisition of Pierer Mobility AG, the holding company of KTM AG. The commission ruled that Bajaj Auto International Holdings BV (BAIH), a wholly-owned subsidiary of the Pune-based firm, is under no obligation to make a mandatory takeover bid to the shareholders of the Pierer Mobility AG. Bajaj Auto through Bajaj Auto BV holds a 49.9 per cent stake in its associate - - Pierer Bajaj AG (PBAG) in Austria. The remaining controlling stake in PBAG is held by Pierer Industrie AG. PBAG holds a nearly 75 per cent stake in its subsidiary, Pierer Mobility AG (PMAG). "We hereby inform that the Austrian Takeover Commission on 23rd October 2025 has confirmed the restructuring privilege for the acquisition of control by Bajaj Auto International Holdings B.V. with no obligation to make a mandatory takeover bid to the shareholders of PIERER Mobility AG," Bajaj Auto said in a regulatory filing. Besides Austrian

Reliance rushes to ship battery equipment from China before export curbs

A team from Reliance has travelled to China to speed up the work, one of the sources said

SBI Life Insurance Q2FY26 results: Net profit drops 6.6% to ₹494 crore

SBI Life Insurance Company on Friday reported a 6.6 per cent decline in net profit to Rs 494.6 crore in the September quarter of the current fiscal. The insurer had recorded a net profit of Rs 529.42 crore in the same quarter of the last fiscal year. The company's net premium income for the quarter under review rose to Rs 24,848 crore from Rs 20,266 crore registered in the second quarter ended September 2024, according to a stock exchange filing. Amit Jhingran, MD and CEO of SBI Life, said the government's GST reform is a key step toward insurance coverage for all by 2047, improving affordability and accessibility. "These reforms will drive broader adoption, financial security and sustainable sector growth," he added. Shares of SBI Life closed 0.6 per cent lower at Rs 1840.50 on the BSE.

Aditya Birla Sun Life AMC Q2 profit steady at ₹241 cr as revenue rises 9%

Aditya Birla Sun Life AMC, part of Aditya Birla Capital, on Friday reported a flat growth in profit after tax at Rs 241.3 crore for the three months ended September 2025. The asset management firm had posted a profit after tax of Rs 242.4 crore in the same quarter of the preceding fiscal, Aditya Birla Sun Life AMC (ABSL AMC) said in a stock exchange filing. The company's revenue from operations rose 9 per cent to Rs 461.3 crore in the July-September quarter of the current fiscal (FY26) from Rs 424.2 crore in the year-ago period. ABSL AMC's assets under management stood at Rs 4.25 lakh crore at the end of September 2025, a growth of 11 per cent. For the first half of FY26, the company reported a PAT of Rs 518.4 crore, reflecting an 8 per cent growth compared to the same period of the last year. Its revenue from operations increased 12 per cent to Rs 909 crore. Shares of the asset management company were trading 2 per cent lower at Rs 834.35 on the BSE in the afternoon trade.

IHCL invests ₹220 crore in Netherlands subsidiary IHOCO BV for expansion

The country's biggest hospitality firm Indian Hotels Company Limited (IHCL) has announced a capital infusion of nearly Rs 220 crore into its wholly owned subsidiary IHOCO BV, based in the Netherlands. The investment amount will be used by IHOCO BV to further invest in its subsidiaries for repayment of debt and operational requirements, Tata Group-owned IHCL said in a late-night regulatory filing to the exchanges on Thursday. IHOCO BV, a wholly owned subsidiary of IHCL, is its apex holding company for overseas hospitality investments. It was incorporated on June 29, 1984. In a regulatory filing, IHCL said it has "infused USD 25 million as equity in its wholly owned subsidiary in the Netherlands, i.e. IHOCO BV. The investment amount will be used by IHOCO BV to further make investment in its subsidiaries, inter alia, for repayment of debt and operational requirements". The transaction involves a cash consideration of Rs 219.69 crore, which would be paid to IHOCO at a conversion rate o

Microsoft Copilot gets collaboration, Google integration, long-term memory

Anthropic and OpenAI, among other artificial intelligence service providers, are upgrading their models and launching products aimed at capturing a wider share of the booming AI market

NCLAT asks IIHL to provide timeline to stop using Reliance trademark

Insolvency appellate tribunal NCLAT has asked Hinduja group firm IndusInd International Holdings Ltd (IIHL) to submit a timeframe by which it will discontinue using Reliance trademark for the financial service firm Reliance Capital. The counsel appearing for IIHL submitted before NCLAT that the process of name change after the acquisition of Reliance Capital has already started, and is likely to be completed in eight weeks. The National Company Law Appellate Tribunal (NCLAT) was hearing an appeal filed by Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVL), which has sought a stay over the use of the trademark Reliance after the takeover of Reliance Capital, through the insolvency resolution process. Noting IIHL's submission, a two-member National Company Law Appellate Tribunal (NCLAT) bench recorded in its order, "It is emphasised by Sr Counsel for the Respondent (IIHL) that the process of changing the brand name of the appellant with a new brand name, which is intended to be acquired b

BharatPe appoints ex-Paytm exec Ajit Kumar as new Chief Technology Officer

Fintech firm BharatPe on Thursday announced the appointment of Ajit Kumar as its Chief Technology Officer (CTO), effective October 23, 2025. He takes the chair from Pankaj Goel, who stepped down in May this year. Kumar brings in over 19 years of experience, most recently having served as Senior Vice President of Engineering at Paytm. In his new role, he will lead BharatPe's technology strategy and innovation agenda, the company said in a statement. "His proven experience in building scalable fintech platforms and his deep understanding of payments and UPI infrastructure will be instrumental as we continue to innovate and strengthen our technology stack," BharatPe CEO Nalin Negi said.

US govt shutdown has not affected consumer sentiment, says Unilever CEO

The group's underlying sales in North America grew 5.5% in the third quarter

Choice International adds ₹635 cr AUM through strategic acquisitions

Financial services firm Choice International Ltd has strengthened its wealth management business with a series of acquisitions by adding Rs 635 crore in assets under management. The company, through its subsidiaries, has entered into definitive agreements to acquire the distribution business of the Fintoo Group, which includes wealth, insurance, alternative investment funds, and portfolio management services operated under Mihika Financial Services and Mihika Insurance Marketing Firm LLP, the company said in a statement on Thursday. This acquisition will bring in about Rs 300 crore assets under management (AUM). In addition, Choice has acquired Pune-based Glory Prime Wealth managing Rs 210 crore in AUM. The company has also formed a strategic business association with four mutual fund distributors in Himachal Pradesh, contributing Rs 125 crore in AUM, it added. "This investment aligns perfectly with our strategy of expanding Choice's presence across the wealth and investment ...

Maruti Suzuki's Jimny 5-door crosses 100K export milestone globally

Maruti Suzuki India Ltd on Thursday said its compact SUV Jimny 5-door has crossed cumulative exports of 1 lakh units from India. Export of the Jimny 5-door had started in 2023, shortly after its India debut, to more than 100 countries, including Japan, Mexico and Australia, the company said in a statement. In Japan, where it is exported as 'Jimny Nomade', since January 2025, the model crossed 50,000 orders within days of introduction, it added. The company said its overall export volumes have been growing year-on-year, crossing 3.32 lakh units in 2024-25 as compared to 2.83 lakh units in 2023-24. "The Jimny has over half a century of heritage, globally. Jimny 5-door crossing the 1 lakh export mark is a proud achievement for Maruti Suzuki," company Managing Director & CEO Hisashi Takeuchi said. He further said the Jimny, along with 16 other models are exported by Maruti Suzuki and the year-on-year rise highlights India's rise as a hub for world-class automobile manufacturing.

Premier Energies enters transformer manufacturing with 51% Transcon stake

Premier Energies on Thursday announced its foray into transformer manufacturing by acquiring a majority 51 per cent stake in Transcon Industries for a total consideration of Rs 500.3 crore. The acquisition is a key milestone in its strategy to become a fully-integrated clean energy solutions provider, Premier Energies said in a statement. The renewable energy player said it has entered into definitive agreements to acquire a 51 per cent ownership interest in Transcon Industries for a total consideration of Rs 500.3 crore. "This investment marks our foray into the fast-growing transformer business on the back of surging renewable power capacity addition and growing electrification of the economy," Premier Energies MD & CEO Chiranjeev Saluja said. The acquisition of Transcon, which manufactures a wider range of transformers, including solar and distribution, will help Premier Energies move further downstream, offering integrated and bundled solutions to power producers, DISCOMs, and

Coal India arm SECL's 12 mining projects running behind schedule

Coal India arm SECL's 12 coal mining projects are running behind schedule due to reasons like delays in green clearances and possession of land. These projects have been facing delays even as the government is focussing on boosting domestic coal production to reduce imports. South Eastern Coalfields Ltd (SECL) is a Mini Ratna public sector enterprise. Of the said projects, three mines cost Rs 500 crore and above, five Rs 150 crore and above but less than Rs 500 crore, two Rs 100 crore and above but less than Rs 150 crore, one Rs 50 crore and above but less than Rs 100 crore and one Rs 20 crore and above but less than Rs 50 crore, according to the company's report. Some of these projects are Amadand open cast mine, Amgaon open cast project, and Vijay West underground mine, it said. However, 18 projects are on schedule. "A total of 30 ongoing projects (18 projects on schedule and 12 projects facing delays) in SECL are under different stages of implementation," it said. Projects co

UPS moves court to block publishers from quizzing India executive

An Indian antitrust investigation report last year found "no evidence" that FedEx, UPS, Aramex and DHL indulged in price collusion, as alleged by a book publishers' body