Page 49 - Company News

BLS International bags MEA contract to run Indian visa centres in China

BLS International Services Limited on Thursday said it has been awarded a contract by the Ministry of External Affairs (MEA) to establish and operate Indian Visa Application Centres (IVACs) in China. The contract will be valid for a period of 3 years, effective October 14, 2025. In July, India announced the resumption of issuance of tourist visas to Chinese nationals, a move that comes as part of efforts to mend bilateral ties that came under severe strain following the military clashes in Galwan Valley. India had suspended issuance of tourist visas to Chinese nationals in 2020, largely due to the COVID-19 pandemic, but the restrictions continued in view of the eastern Ladakh border row. Under the terms of the agreement, BLS International will be responsible for establishing and managing IVACs in Beijing, Shanghai, and Guangzhou, offering visa services. The IVACs will incorporate enhanced infrastructure, advanced technology, and multi-lingual staff to ensure a seamless experience

M3M to invest ₹2,100 cr to build ultra-luxury homes under Jacob & Co brand

Realty firm M3M India on Thursday said it will invest Rs 2,100 crore to develop Jacob & Co-branded ultra-luxury homes in Noida as part of its expansion plan. In a statement, the company announced the launch of 'Jacob & Co. Residences, Noida'. Jacob & Co. is a globally renowned luxury brand, celebrated for its high-jewellery timepieces and extraordinary craftsmanship. This will be the first housing project in India under the Jacob & Co. brand. Jacob Arabo, Founder & Chairman of Jacob & Co, was present for the launch. Gurugram-based M3M Group, which is developing two Trump-branded ultra luxury housing projects, will invest Rs 2,100 crore to develop this 6-acre project. The company is expecting a total revenue of Rs 3,500 crore from this upcoming project to be delivered in the next three years. The company will sell luxury premium residences in a price range of Rs 14-25 crore. M3M Group will develop 150 residences in the first phase and about 100 ultra-luxury ...

Electric 2-wheeler maker Ultraviolette forays into Spain, Portugal markets

Premium electric two-wheeler maker Ultraviolette Automotive on Thursday announced its entry into Spain and Portugal, enhancing its presence to 12 European nations. By entering Spain and Portugal, the company is strategically positioning itself at the heart of Europe's booming EV landscape, it said in a statement. Rhino Electric Motor, its exclusive importer and distributor partner, will sell the F77 MACH 2 and F77 SuperStreet models in Spain and Portugal, it added. "The response from our first customers across France, Germany, the Netherlands, and other European markets has been absolutely phenomenal. Building on that momentum, we are thrilled to announce the launch of the Ultraviolette F77 performance electric motorcycles in Spain and Portugal," Narayan Subramaniam, CEO & Co-founder of Ultraviolette, said. Rhino Electric Motors Spokesperson Jorge Bialade said Ultraviolette is a game-changer for the Iberian electric motorcycle market.

Stellantis $13 bn US investment plan gains support from investors

The plan, announced late on Tuesday, would help buffer the group from US tariffs, an impact the French-Italian-American group had estimated in July at about $1.7 billion this year

BlackRock, Nvidia-backed group strikes $40 billion AI data center deal

The acquisition is the latest in a series of big-ticket deals involving Big Tech and Silicon Valley startups that has been fueled by the boom in AI

Apple CEO Tim Cook pledges to boost China investment despite Trump tensions

Many US companies have become cautious about relations with China as the world's two biggest economies clash over tariffs

Meta to invest $1.5 billion in Texas AI data centre, creating 100 jobs

Meta has invested over $10 billion in Texas and employs more than 2,500 people across the state, the company said. These figures include the latest investment

Tesla urges Delaware Supreme Court to restore Musk's $56 billion payday

One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded the Tesla CEO's record compensation in January 2024

US tech startup Anthropic unveils cheaper model to widen AI's appeal

Anthropic's annual revenue run rate - a calculation of annual revenue extrapolated from the current sales pace- is almost $7 billion, the spokesperson said

CMA CGM Group to build six LNG-powered containerships at Cochin Shipyard

Global shipping and logistics operator CMA CGM Group on Wednesday said it has signed a letter of intent for six LNG-powered containerships to be built at Cochin Shipyard Limited (CSL) in line with its fleet renewal and energy transition strategy. This strategic move makes the Group the first major foreign carrier to commission LNG vessels from an Indian shipyard, the company said, adding that the containerships will be delivered from 2029 to 2031. All six vessels will be registered under the Indian flag, each with a capacity of 1,700 TEUs (Twenty-foot Equivalent Units), it said. This demonstrates CMA CGM's commitment to a more sustainable shipping as it can run on LNG and are ready for low-carbon fuels, significantly reducing greenhouse gas emissions, aligning with the Group's ambition to be Net Zero Carbon by 2050, the company said. The project at Cochin Shipyard will also be run with the technical cooperation of Korean shipbuilder HD Hyundai Heavy Industries, it said adding this

Bristol Myers Squibb launches heart medication Kopozgo in Indian market

Bristol Myers Squibb (BMS) on Wednesday announced the launch of Kopozgo (Mavacamten), an oral, selective cardiac myosin inhibitor, in India. Kopozgo is the first and only oral, selective cardiac myosin inhibitor approved in India for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM), BMS said in a statement. Mavacamten was approved by the Central Drugs Standard Control Organisation (CDSCO), with an import license issued on March 6, 2025. "Kopozgo is now available to patients in India. The approval of Kopozgo in India is based on positive efficacy and safety results from two Phase III clinical trials, EXPLORER-HCM and VALOR-HCM," the statement said. Sanjay Sharma, General Manager and Managing Director, BMS India, mentioned, "This breakthrough brings hope to individuals and families facing this condition, giving clinicians a novel therapy to address the unmet need in treatment. Bristol Myers Squibb is committed to advancing cardiovascular care fo

India has long history, interest in craftsmanship: Galeries Lafayette

The Parisian luxury retailer's flagship in Mumbai will mark its India debut, bringing over 200 global brands under one roof

Jindal Stainless invests $150 mn to double slag processing capacity

Jindal Stainless on Wednesday said it is investing USD 150 million (around Rs 1,300 crore) to double its annual slag processing capacity to 0.72 million tonnes to help meet long-term circularity goals. As part of the investment, the company will set up its second wet milling plant of the same capacity of 0.36 million tonnes (MT) at its Jajpur unit in Odisha by October 2026. The byproduct or slag of stainless steel production is processed at wet milling plants to recover metal. "The initiative will support the company's long-term circularity goals by recovering metal from industrial waste and conserving natural resources. It will also create approximately 140 new jobs in the region," Jindal Stainless said in a statement. Jindal Stainless is committing to a spend of USD 150 million to build and operate the plant under a 15-year partnership with Harsco Environmental, further strengthening the long-standing collaboration between the two companies in advancing circular operations. Over

HDFC Life Q2 profit rises 3.3% to ₹4470 cr, net premium income up 13%

The insurer's net profit rose 3.3% year-on-year to 4.47 billion rupees for the quarter ended September 30

TACC secures ₹1,230 cr SBI funding for Lithium-ion battery anode plant

Carbon materials manufacturer TACC Ltd on Wednesday said it has received a credit facility of Rs 1,230 crore sanctioned by the State Bank of India for the Lithium-ion battery grade graphite anode facility. The funding will be utilized to support the company's upcoming greenfield manufacturing facility in Dewas, Madhya Pradesh, which will produce 20,000 MTPA of lithium-ion battery-grade graphite anode material, a company statement said. The facility will be among the first of its kind in India, marking a major step toward building a self-reliant domestic ecosystem for advanced energy materials, according to TACC Ltd, a wholly-owned subsidiary of HEG Ltd and part of the LNJ Bhilwara Group. TACC aims to contribute to India's self-reliance in critical technologies by establishing local manufacturing capabilities for battery-grade graphite anodes -- a key component of lithium-ion batteries used in electric vehicles and energy storage systems. This facility represents a significant step

Bank of Maharashtra Q2 profit up 23% to ₹1,633 crore on lower NPAs

Public sector lender Bank of Maharashtra on Tuesday reported a 23 per cent growth in its standalone net profit to Rs 1,633 crore in the September quarter of the current fiscal (FY26), driven by a decline in bad loans and a rise in interest income. The bank had posted a net profit of Rs 1,327 crore in the same quarter preceding fiscal (FY25). The state-owned bank earned interest income of Rs 7,128 crore during the quarter, compared to Rs 6,017 crore in the same period a year ago, Bank of Maharashtra said in a regulatory filing. Overall, its total income increased to Rs 7,973.61 crore in the quarter under review from Rs 6,809.2 crore in the three months ended September 30, 2024. The bank was able to reduce gross Non-Performing Assets (NPAs) to 1.72 per cent of the gross loans by the end of September 2025, from 1.84 per cent a year ago. Likewise, net NPAs or bad loans came down to 0.18 per cent, from 0.2 per cent at the end of the second quarter of the previous fiscal. Shares of Ban

US banking giants see gains from dealmaking surge but warn of asset froth

Global investment banking fees reached a four-year high in the first nine months of the year, underpinning earnings

Broadcom to launch Thor Ultra networking chip, intensifying Nvidia rivalry

The Thor Ultra will battle Nvidia's networking interface chips and aim to further entrench Broadcom's control of network communications inside data centers designed for AI applications

India's EAAA Alternatives to invest up to ₹400 bn in clean energy by 2030

EAAA Alternatives on Tuesday got a $60 million commitment from the European Investment Bank for the India Energy Transition Fund, which is looking to raise about $300 million by the end of the year

Goldman Sachs profit jumps 37% as bankers cash in on strong deal activity

Goldman announced last month it will take a stake worth as much as $1 billion in T Rowe Price, as part of a partnership to tap the asset manager's retirement money for alternative assets