Page 51 - Company News

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

UK watchdog flags Google's dominance in search ads under new digital rules

Britain's antitrust watchdog on Friday labelled Google a strategic player in the online search advertising market, paving the way for regulators to force the company to change its business practices to ensure more competition in that market. The Competition and Markets Authority said its investigation found that the US tech giant has strategic market status" because it has substantial and entrenched market power in general search and search advertising. It marks the first time the watchdog has issued the designation since new UK digital rules took effect at the start of the year. The label doesn't imply any wrongdoing. But the regulator said it means it has the power to consider using proportionate, targeted" measures to make sure general search services are open to effective competition and that consumers and businesses are treated fairly. Online search ads appear alongside results from Google's search engine, usually tagged as Ad or Sponsored" versus online display ads, which ..

Truhome Finance secures ₹417 cr fresh capital infusion from Warburg Pincus

Truhome Finance (formerly known as Shriram Housing Finance) on Friday said it has received a fresh capital infusion of Rs 417 crore from its majority shareholder, US-based private equity firm Warburg Pincus. As the company recently crossed the Rs 20,000 crore in assets under management (AUM) milestone in September 2025, this investment strengthens the company's balance sheet and supports its next phase of expansion, Truhome Finance said in a regulatory filing. With this capital infusion, Truhome's net worth now exceeds Rs 4,000 crore, it said. Warburg acquired the company in December 2024, and following this round, their shareholding in the company now stands at 98.59 per cent, it said. Over the past two years, it said, Truhome has doubled its AUM from Rs 10,000 crore in August 2024 to Rs 20,000 crore in September 2025. The company has expanded its network to 200 branches with a dedicated team of nearly 5,000 employees serving customers across India, it said. Truhome Finance MD

ENGIE secures 100 MW solar project in Barmer from SECI in Rajasthan

Global energy company ENGIE on Friday said it has secured a 100 MW solar project in Barmer, Rajasthan, from the Solar Energy Corporation of India. Located in one of India's highest solar irradiance zones, the Barmer project is expected to be commissioned in 2027 and is a strategic addition to ENGIE's growing portfolio in Rajasthan, which now approaches 1 GW, a company statement said. According to the statement, ENGIE, a global leader in low-carbon energy and services, proudly announces the signing of a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 100 MW Solar Photovoltaic (PV) project in Barmer, Rajasthan. Amit Jain, CEO and Country Manager, India MD Renewables & Batteries India & South-East Asia, said in the statement, Our agreement with SECI marks a pivotal chapter in ENGIE's growing partnership in India and reflects our shared ambition to accelerate the country's clean energy transition. The Barmer project is focused on delivering ..

PayPay buys 40% stake in Binance Japan to deepen its digital payments push

PayPay has played a role in encouraging Japanese consumers to move away from a long-standing preference for cash by offering rebates on payments through its mobile app

HSBC to acquire Hang Seng unit for nearly $14 billion in Hong Kong bet

To keep its capital ratio within range, HSBC said it will refrain from buybacks for the next three quarters

GlobalLogic to raise India workforce by 20%, opens office in Chennai

IT company GlobalLogic has plans to increase its headcount in India by 20 per cent this year, the company said on Thursday. As part of its expansion in the country, the company opened a new office in Chennai with a capacity to accommodate 500 professionals. The new office will serve as the centre for excellence for telecom, 5G and AI-first engineering, the company said in a statement. "India continues to be the cornerstone of our global innovation strategy. As we scale toward a 20,000-strong workforce in the country, Chennai will play a critical role in helping us deliver AI-first, cloud-native, and telecom-grade solutions at scale," Piyush Jha, Group Vice President and Managing Director, APAC, GlobalLogic said. With over 800 employees currently based in Chennai, GlobalLogic plans to increase this number by 20 per cent by the end of 2025, bringing the local headcount to over 1000, the statement said. "This growth contributes to the company's broader ambition of reaching a ...

NTPC, Gujarat govt partner to explore conventional and renewable energy

State-owned power giant NTPC Ltd on Thursday said that it has inked an initial pact with the government of Gujarat to explore opportunities in both conventional and non-conventional energy sectors. The Memorandum of Understanding (MoU) exchange took place in the presence of Bhupendrabhai Patel, Chief Minister of Gujarat; Pralhad Joshi, Union Minister of New & Renewable Energy; Kanubhai Desai, Minister for Finance, Energy and Petrochemicals, Gujarat and other senior dignitaries, a company statement said. The agreement, signed during the Vibrant Gujarat Regional Conference held in Mehsana, Gujarat, aims to explore opportunities in both conventional and non-conventional energy sectors, the statement said. NTPC is India's largest integrated power utility, contributing one-fourth of the country's power requirements and has an installed capacity of over 83 GW, with an additional capacity of 30.90 GW under construction, including 13.3 GW of renewable energy capacity. The company is ...

Ericsson says will make all telecom gear for India market indigenously

Swedish telecom gear maker Ericsson plans to manufacture every telecom gear it sells in India, including 6G equipment, indigenously, a senior company official said on Thursday. Ericsson, Head of Market Area Southeast Asia, Oceania and India, Andres Vicente told PTI that the company expects to start 6G trials by 2028 but commercial deployment of the technology will take some more time. "Our intention is to manufacture in India everything we sell in India," Vicente said at India Mobile Congress 2025. The company, at present, makes 4G and 5G equipment in India and exports them to Asian countries as well. The company recently expanded its ASIC (application specific integrated chips) R&D in Bengaluru and launched production of passive antennas in India in collaboration with VVDN Technologies. Vicente said that the company is planning to expand the ASIC R&D facility team to 150 positions. He said that Ericsson is constantly increasing value addition in the equipment that are ...

Rainfall caused decline in September coal output at CIL: G Kishan Reddy

Coal and mines minister G Kishan Reddy on Thursday said that rainfall disrupted mining activity in September, and it led to a decline in production by public sector coal producer CIL. However, the minister made it clear that there was no shortage of coal in the country. Speaking to reporters on the sidelines of ICC's Annual Plenary Session, the minister said that in September Coal India Ltd's (CIL) production declined because of rains. CIL accounts for over 80 per cent of the country's coal production. According to industry experts, heavy rains and waterlogging during monsoon create operational difficulties in coal mining, resulting in drop in coal production. The coal behemoth reported a 3.9 per cent year-on-year decline in production to 48.97 million tonnes (MT) in September. The company's output was 50.94 MT in the corresponding month of the previous fiscal year. The output has lowered even as the government aims to increase production to bring down the import of dry fuel. S

Signature Global to raise ₹875 cr next week through NCD issuance

Realty firm Signature Global Ltd will next week raise Rs 875 crore through issuance of non-convertible debentures (NCDs) to investors. In a regulatory filing on Thursday, the company informed that the Debenture Committee of the company has approved the terms for issuance of 87,500 NCDs, having a face value of Rs 1 lakh each, aggregating to Rs 875 crore on a private placement basis. The tenure of the NCDs, having a coupon rate of 11 per cent, would be 3 years, 2 months and 30 days. The allotment is proposed on October 16, 2025, and the date of Maturity is January 15, 2029. In June, the company's board approved a proposal to raise up to Rs 875 crore through NCDs on a private placement basis. Gurugram-based firm Signature Global is one of the leading real estate developers in the country. In 2024-25, the company emerged as the fifth-largest listed real estate firm in terms of sales bookings. The company sold properties worth Rs 10,290 crore in the last fiscal and is targeting Rs 12,5

Akasa Air hit by booking, check-in disruption after service provider outage

Akasa Air on Thursday faced issues with its check-in and booking systems due to an outage at the airline's service provider's facility. "Our systems are currently experiencing intermittent issues and some of our online services on our website, including booking, check-in and manage booking services, may be temporarily unavailable. Passengers with immediate travel plans can use our Mobile App for check-in or reach the airport early to check-in at our counters," the carrier said in an update on its website. The airline operates around 1,000 flights a week. "Our check-in and booking systems are temporarily affected due to an outage at our service provider's facility," as per the update. Akasa Air has a fleet of 30 planes and connects 24 domestic and 6 international destinations.

Samsung India sees strong Navratri sales, AC and TV demand surges

Samsung India on Thursday said it experienced "strong growth" in the appliances business during the nine-day-long auspicious Navratri period, supported by recent GST reforms by the government and promotional offers. The sales of premium televisions jumped two-fold, as compared to the corresponding festive period last year, according to a statement issued by the country's leading appliances & consumer electronics maker. Additionally, it has also reported growth in its room air conditioner sales. Growth in sales of air conditioners and TVs was aided by the recent GST reforms by the government, which saw a substantial drop in taxation rates, leading to price reductions across consumer goods and appliances, such as TVs (above 32-inch screen size), air conditioners, and dishwashers. "Samsung's appliances business saw strong growth during the first leg of the festive season (September 22 to October 2) on account of attractive deals that included cashback offers, easy finance and ...

InGovern flags potential liabilities and risks in LG Electronics India IPO

Proxy advisory firm Ingovern has cautioned the investors of LG Electronics India (LGEI), raising concerns over the contingent liabilities aggregating Rs 4,717 crore, which includes disputed tax claims, saying that a negative outcome could "significantly erode" future earnings of the appliances and consumer electronics major. The company's Rs 11,607-crore IPO has been oversubscribed by about 13 times so far. The initial public offering closes on Thursday. "LGEI has disclosed contingent liabilities aggregating Rs 4,717 crore, constituting 73 per cent of its net worth (aggregation/calculation made from the RHP). These relate to disputed tax claims from authorities. A negative outcome in those proceedings could significantly erode future earnings or require provisions," the report said. According to the report, South Korean parent entity LG Electronics Inc., the promoter, continues to hold a dominant stake of 85 per cent post-IPO, which is "resulting in concentrated ownership and ...

Indofast Energy joins hands with e-Sprinto to deploy 20k EVs by 2026

Battery-swapping solutions provider Indofast Energy on Thursday said it has tied up with e-Sprinto to deploy 20,000 electric two-wheelers in the country by 2026. The collaboration will integrate e-Sprinto's electric vehicles with Indofast Energy's battery-swapping network expanding across the country. The strategic rollout will revolutionize delivery operations across the quick commerce, e-commerce, and food delivery sectors by establishing crucial battery-swapping infrastructure along high-demand corridors, Indofast Energy said in a statement. "By integrating e-Sprinto's high-quality vehicles with our network, we are expanding our reach across diverse customer segments and accelerating our ambitious EV deployment targets," Indofast Energy CEO Anant Badjatya said. Indofast Energy, a 50:50 joint venture between IndianOil Corporation Ltd and SUN Mobility, has also tied up with Zypp, Omega Seiki Mobility, Shadowfax, Triev, Wickedride, Green Drive etc.

NCLT once again postpones Vedanta demerger hearing to 29 October

The National Company Law Tribunal (NCLT) on Wednesday once again postponed the hearing on Vedanta's demerger proposal to October 29. On September 17, the Mumbai bench of NCLT had deferred the hearing on the matter till October 8, and also directed Vedanta as well as the Ministry of Petroleum and Natural Gas (MoPnG) to file written submissions on the matter within five days. Earlier on August 20, the tribunal had deferred the hearing on the Vedanta demerger to September 17 as market regulator Sebi was yet to complete the scrutiny of the proposal, while the petroleum ministry had raised certain objections and sought time to present its observations on the scheme. The counsel representing the ministry had raised objections to the demerger seeking details on the RJ block, and sought clarifications on disclosures. The counsel said the ministry also wants disclosures on the concealment of facts that includes showing the exploration blocks as Vedanta's assets and details of the loan taken

JSW MG aims to secure top spot in India's luxury EV market by 2026

JSW MG Motor India is eyeing the number one position in the country's luxury electric vehicle (EV) segment, banking on technological innovation, product launches and a shift in consumer preferences, a senior company official said on Wednesday. The company has already emerged as the second-largest player in India's luxury EV market and aims to take the top position by 2026, he said. "The Indian luxury car market is about 700 units a month. Our aim is to be number one in both luxury and mass categories. The luxury EV market is evolving fast, and our target is to become the number one player in 2026. In September, we sold 213 units," Milind Shah, Head of MG Select, told PTI on the sidelines of the launch of its experience centre in Kolkata, the first in the eastern region. MG Select is a designated retail channel and showroom network for luxury cars under the MG brand. Based on current industry volumes, reaching 350-plus units per month would help the company achieve the goal, he ...

Lupin to invest $250 mn in new US facility for critical respiratory drugs

Drug firm Lupin on Wednesday said it will set up a new manufacturing facility in Coral Springs, Florida, entailing an investment of USD 250 million. With a projected cumulative investment of USD 250 million, including research & development, infrastructure and capital expenditures over a five-year period, the new site will have the capacity to accommodate the production of more than 25 critical respiratory medicines, the Mumbai-based drug maker said in a regulatory filing. The Florida-based plant would produce products like albuterol inhalers for children with asthma, it added. By strengthening domestic manufacturing and enhancing supply chain diversification, this critical project will enhance medicine security and strengthen the company's position as a global respiratory leader, it said. Locally, the infrastructure will generate over 200 new long-term, skilled jobs by 2030 in Broward County. "The expansion of Lupin's footprint in Coral Springs is a core part of our growth ...

GCPL warns GST changes may impact Q2 profitability, EBITDA expected to fall

Implementation of new GST slabs to lower the duty has resulted in some short-term adjustments across trade in the domestic market, Godrej Consumer Products Ltd (GCPL) said while projecting a 'low-single digit' volume growth on a standalone basis in the September quarter. The GST rate reductions have resulted in some short-term adjustments across trade channels, as distributors and retailers focused on liquidating existing inventories, said Godrej Consumer in its quarterly updates. This has delayed the flow of new orders and temporarily deferred consumer purchases, impacting both growth and profitability, the FMCG business of Godrje Industries Group added. "Consequently, our Standalone business is expected to deliver mid-single digit value growth, supported by low-single digit UVG," it said. However, GCPL, which markets brands as Cinthol, Godrej No1, Good Knight and HIT, said the government's recent GST reforms represent an 'encouraging step' towards strengthening consumer ...

Maruti to add 500 new service workshops, expanding network across India

Maruti Suzuki India on Wednesday said it plans to add a total of 500 service workshops to its network in the current fiscal. The auto major on Wednesday announced the setting up of its 5,000th Arena Service touchpoint in Coimbatore. The company sells its product range in the country through Arena and Nexa sales networks. "We plan to continuously expand our network in future as well. In FY 2024-25, we opened 460 service touchpoints under ARENA and NEXA channels, and in FY 2025-26, we plan to add a total of 500 service workshops to our network," Maruti Suzuki MD and CEO Hisashi Takeuchi said in a statement. With the addition of new touchpoints, the company's service network now increases to over 5,640 service touchpoints, covering 2,818 cities across India, the automaker said. In FY 2024-25, Maruti Suzuki said it serviced over 27 million vehicles, the highest ever in a single financial year. During April-September 2025, the company, through its network, has already serviced over 14