Page 50 - Company News

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

Leela Palaces, Hotels and Resorts posts ₹74.7 crore Q2 net profit

The Leela Palaces, Hotels and Resorts Ltd on Tuesday reported a consolidated net profit of Rs 74.72 crore on the second quarter ended September 30, 2025, on the back of higher revenue. The company had posted a consolidated net loss of Rs 51.17 crore in the corresponding quarter last fiscal, The Leela Palaces, Hotels and Resorts Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 310.65 crore as against Rs 277.15 crore in the year-ago period, it added. Total expenses in the second quarter were higher at Rs 172.72 crore as compared to Rs 162.61 crore in the corresponding quarter last fiscal, the company said. Commenting on the performance, Leela Palaces Hotels & Resorts Ltd CEO Anuraag Bhatnagar said, "This marks our fourth consecutive quarter of positive PAT, underscoring the strength of our business." RevPAR (revenue per available room) grew 13 per cent driven by improved occupancy and ADR (average daily rate), with owned ..

LT Foods to acquire Hungary's Global Green Europe for €25 million deal

Home-grown FMCG firm LT Foods on Tuesday said it has agreed to acquire a 100 per cent stake in Hungary-based Global Green Europe Kft for approximately 25 million euros (about Rs 256 crore) to expand its presence in the European packaged food market. LT Foods owns basmati rice brands -- Daawat and Royal. It will pay 6 million euros upfront for the equity stake, with 1.8 million euros payable over two years through an earn-out mechanism, the company said in a regulatory filing. It will also assume the target's debt. The transaction includes the acquisition of Global Green International (UK) Limited and Greenhouse Agrar Kft, which serve as support and distribution entities. The deal, subject to foreign direct investment approval in Hungary, will be executed through LT Foods Europe Holdings Ltd, a wholly-owned subsidiary. The transaction, which will be executed through LT Foods Europe Holdings, a wholly-owned step-down subsidiary of Delhi-based firm, is in line with the long-term stra

BMW India expects EVs to make up 30% of overall sales before 2030

Luxury carmaker BMW expects its electric vehicle sales to surge over the next few years, accounting for around 30 per cent of the overall sales before 2030, driven by new products and enhanced adoption of green vehicles in the country, according to company's President and CEO Hardeep Singh Brar. The German luxury carmaker's electric vehicle portfolio in India currently accounts for around 21 per cent of the overall sales. In an interaction with PTI, Brar said the company would like to have electric models in every vehicle segment it operates in the country. "We have done well in the electric segment, and we would like to build on that further. We are today, 21 per cent and I think at this rate, we may do 30 per cent even before 2030, which is mandated by the government," he noted. Between January and September, BMW Group India retailed 2,509 electric BMWs and MINIs, a growth of 246 per cent year-on-year. The share of EVs in total sales increased to 21 per cent with iX1 becoming th

Tech Mahindra Q2 results: Net profit slips 4.44% to ₹1,194.5 crore

IT services company Tech Mahindra on Tuesday reported a 4.44 per cent decline in its September quarter net profit to Rs 1,194.5 crore. The post-tax profit is lower than the Rs 1,250 crore it had posted in the year-ago period and marginally higher than the Rs 1,141 crore it reported in the preceding June quarter. Its revenue grew to Rs 13,995 crore from Rs 13,313 crore a year ago and Rs 13,351 crore in the quarter-ago period, as per an exchange filing. The pre-tax profit margin expanded by 2.54 per cent year-on-year to 12.1 per cent during the reporting quarter. The total employee headcount declined by 1,559 year-on-year to 1.52 lakh staff as of September 30, 2025. The Tech Mahindra scrip rose 1.19 per cent to close at Rs 1,468.15 on BSE against a 0.36 per cent correction on the benchmark.

Warburg Pincus nears deal to buy Germany's PSI for over $813 million

The deal is not finalised yet and details could still change, the people said

AstraZeneca to strike landmark drug price deal with Trump administration

The deal is expected to be announced at the White House on Friday, said the people, who spoke on condition of anonymity because the plans are not yet public

T T Jagannathan, the kitchen mogul and man behind TTK Prestige, dies at 77

T T Jagannathan, the Chairman Emeritus of TTK Prestige, popularly known as 'the Kitchen Mogul', died on Thursday in Bengaluru. He was at 77. Jagannathan was a gold medalist from IIT Chennai and held a PhD in operations research from Cornell University, USA. He was on the board of TTK Prestige for the past 50 years, the business founded by his grandfather and former Union finance minister TT Krishnamachari. "We regret to inform you that the Company was intimated today about the sudden demise of T T Jagannathan - Chairman Emeritus, belonging to the Promoter and Promoter Group of the Company, on October 09, 2025," said TTK Prestige in a regulatory update informing his demise. His sudden and unexpected passing away will be an "irreparable loss to the company" and all the Directors and employees of the Company convey deep sorrow and condolences, said TTK Prestige, a leading kitchen and home product maker. Jagannathan loved cooking. His need for innovation always begins in the ...

India must stop allowing others to define its identity, says Adani

"If we do not narrate who we are, others will rewrite who we were," Adani Group Chairman Gautam Adani said on Friday, calling for India to take charge of its global narrative through cinema, storytelling, and emerging technologies. Speaking at Whistling Woods International, Adani emphasised that India must stop allowing foreign voices to define its identity. "Silence is not humility, it is surrender," he said, pointing to films like Gandhi and Slumdog Millionaire as examples of how India's stories have often been told through Western lenses. He argued that India's failure to own its story has allowed others to profit off caricatures of its reality, and said the country must stop allowing others to define its identity. He also warned of the double-edged power of storytelling in an era where narratives "move markets faster than numbers". Referring to the 2023 Hindenburg report that temporarily wiped over USD 100 billion off Adani Group's market value, he said the episode was a stark .

Tata Power ropes in 100 women as solar energy ambassadors in villages

Women volunteers are encouraging people to adopt clean energy solutions in villages under power discom Tata Power Delhi Distribution Limited's Solar Sakhi Abhiyan. The initiative, launched recently from the Pooth Khurd Village, is in alignment with the central government's PM Surya Ghar: Muft Bijli Yojana. At the heart of the initiative are 100 Solar Sakhi members women volunteers trained to serve as ambassadors of solar energy in villages. They will spread awareness on rooftop solar benefits, educate households on clean energy solutions, and act as a bridge between government policies and communities in more than 75 villages of Tata Power-DDL, the statement added. Each Solar Sakhi has been provided with a distinctive jacket, symbolising pride, leadership, and recognition, it said. Neeraj Semwal, Secretary (Power) in the Delhi government, said: "The Delhi government is committed to promoting renewable energy and inclusive growth. Initiatives like Solar Sakhi Abhiyan strengthen thi