Page 56 - Company News

Hyderabad bound A-I Express flight makes emergency landing in Vizag

An Air India Express flight from Visakhapatnam to Hyderabad with 103 passengers made an emergency landing here on Thursday, following an engine problem after a suspected bird hit mid-air, said an official. Visakhapatnam Airport director S Raja Reddy said the pilot of Air India Express flight number IX 2658 requested for the emergency landing and returned to the port city after abandoning the journey to Hyderabad. "After departing Vizag, the pilot reported some problem in the engine. So, he asked for an emergency landing and returned to Vizag. The flight landed safely and passengers were deboarded," Reddy told PTI, adding that alternative arrangements are being made by the airline. According to the director, the aircraft departed Vizag at 2.38 pm and returned by 3 pm, travelling only around 10 nautical miles while the bird hit was suspected to have occurred while ascending.

Mobikwik reports financial fraud in Haryana; says user accounts unaffected

Fintech firm One MobiKwik Systems on Thursday confirmed that a technical glitch had led to unauthorised payments in and around one district of Haryana last week, and said remedial measures had been taken with financial impact contained and quantified. The company, in a statement, clarified that the incident did not affect UPI, wallet payments, or user account balances. "MobiKwik confirms that an isolated technical issue on September 11-12, 2025, led to certain failed transactions being incorrectly marked as successful, resulting in unauthorised payouts to some merchants in and around the Nuh district of Haryana. A few merchants and users from this area exploited this issue to gain undue financial benefit. "Upon identification in the early hours of September 12, the Company immediately took corrective action and resolved the issue within 45 minutes. The total financial impact has been contained and quantified," it said, adding that no employees, management personnel or insiders were

Oil India sees restart of Mozambique LNG project by year's end

TotalEnergies halted construction of the project and imposed force majeure in 2021 following a deadly attack on the site by Islamic State-linked insurgents

US and China have larger agendas to resolve, says Nvidia CEO Huang

Successive US administrations have restricted China's access to advanced chips, while Beijing has responded to the curbs by pressing domestic firms to turn away from American suppliers

Ben & Jerry's co-founder exits after feud with Unilever over Gaza

Ben & Jerry's has in recent months been a lonely voice among well-known brands speaking out on issues like Gaza and President Donald Trump's immigration stance

Urban Company shares jump 62% above issue price on trading debut

Shares of app-based beauty and home services platform Urban Company Ltd on Wednesday ended with a premium of more than 62 per cent over the issue price of Rs 103. The company's stock started trading at Rs 161, a jump of 56.31 per cent from the issue price on the BSE. During the day, it zoomed 73.78 per cent to Rs 179. Shares of the company ended at Rs 167.05, up 62.18 per cent. On the NSE, the stock was listed with a premium of 57.52 per cent at Rs 162.25. Shares of the firm ended at Rs 166.83 apiece, up 61.97 per cent. The company's market valuation stood at Rs 23,986.74 crore. In volume terms, 149.88 lakh shares of the firm were traded on the BSE and 1,960.31 lakh shares exchanged hands on the NSE during the day. The initial public offer of Urban Company Ltd received overwhelming investor participation, with the issue getting a huge 103.63 times subscription on the final day of bidding on Friday last week. The Rs 1,900-crore IPO had a price band of Rs 98-103 per share. The com

NCLT postpones final hearing on Vedanta demerger plan to October 8

The National Company Law Tribunal (NCLT) on Wednesday deferred the hearing on Vedanta's ambitious demerger proposal to October 8, as the Ministry of Petroleum and Natural Gas objected to the scheme, citing a lack of necessary disclosures. The Mumbai bench of NCLT also directed Vedanta and the ministry to file written submissions in five days. The counsel representing the Ministry of Petroleum and Natural Gas told the tribunal that they are asking about the details of the RJ block, and sought clarifications on disclosures. The counsel further said the ministry also wants disclosures on the concealment of facts, which includes showing the exploration blocks as Vedanta's assets and details of the loan taken on the basis of those assets. "As a regulator and a creditor, it is my duty to bring all these facts before the tribunal to show that whether the scheme is clear or it is opaque. We are asking for disclosures on the RJ-ON-90/1 Oil and Gas Block, an operating oil and gas block in ..

ICICI Prudential MF buys nearly 3% stake in Laxmi Dental for ₹49 cr

ICICI Prudential Mutual Fund on Monday bought nearly a 3 per cent stake in Laxmi Dental for around Rs 49 crore through open market transactions. After the stake buy, shares of Laxmi Dental rose 0.25 per cent to close at Rs 306.70 apiece on the NSE while the scrip of the company fell 0.93 per cent to settle at Rs 303.25 per piece on the BSE. According to the bulk deal data on the BSE and NSE, ICICI Prudential Mutual Fund (MF) purchased 8.62 lakh equity shares on the NSE and it acquired 7.38 lakh shares, representing a combined 2.91 per cent stake in Laxmi Dental. The combined transaction was valued around Rs 48.51 crore, and was executed at an average price of Rs 303 apiece, on the exchanges. Meanwhile, Abu Dhabi Investment Authority (ADIA) offloaded a total of 11.16 lakh shares or 2.03 per cent stake in Laxmi Dental for Rs 33.82 crore. After the stake sale, ADIA's holding in Laxmi Dental has come down to 1.15 per cent from 3.18 per cent. The shares were disposed of in the price

Medicover Hospitals to launch IPO in 2026, says CMD Anil Krishna

Medicover Hospitals, a city-based super-specialty healthcare chain, is planning to go for an Initial Public Offering (IPO) in 2026 to support its expansion of infrastructure and reduction of debt burden. Medicover on Monday announced significant expansion plans in Telangana with the addition of two new multi-specialty hospitals here, a press release said. Speaking at a media interaction, Dr Anil Krishna, Chairman and Managing Director, Medicover Hospitals, said the group has set a turnover target of Rs 2,000 crore for the current financial year. The expansion includes exploring key markets outside the Telugu states, particularly Bengaluru and Pune and increasing Medicover's overall capacity to around 6,400 beds across India, he added.

Ambani's Reliance raises nearly ₹21K crore in asset-backed securities

The Reliance offering drew a robust response, as it gave investors a chance to own top-rated asset-backed securities in a market still dominated by non-bank financial firms

Urban Company IPO subscribed 103.6 times on final day of bidding

The Gurugram-based company plans to raise Rs 472 crore through selling new shares, and existing investors plan to sell stakes worth Rs 1,428 crore

Bharat Forge signs pact with UK's Windracers to deploy cargo UAVs in India

Forging and advanced engineering company Bharat Forge on Thursday said it has signed an agreement with the UK-based autonomous cargo drone manufacturer Windracers Limited for a collaboration on deployment, localisation and application of the latter's Unmanned Aerial Vehicle (UAV) ULTRA across India. The Memorandum of understanding, signed between the two companies at the ongoing global defence exhibition and conference, DSEI UK 2025 in London, aligns with Bharat Forge's and Windracers' broader aerospace growth strategy of advancing UAV capabilities in India, supporting innovation, technology transfer and strategic aerospace applications across defence, the company said. The MoU begins with an initial two-year term, offering both companies the opportunity to advance localisation, conduct joint trials and shape a definitive agreement for deployment in India, Bharat Forge said. The partnership builds on the UK-India Free Trade Agreement (FTA), advancing aerospace technology transfer an

Nandan Nilekani's VC firm Fundamentum to focus on scale-up market

VC firm led by Infosys co-founder Nandan Nilekani pivots to two-pronged approach targeting scale-up investments and AI startups as Fund II outperforms peers

Vedanta in process of acquiring land for 3 MTPA aluminium smelter in Odisha

Vedanta is in the process of acquiring land for its 3 million tonnes per annum (MTPA) aluminium smelter in Dhenkanal, Odisha, a top company official said on Wednesday. "We are moving towards setting up a new mega aluminium plant at Dhenkanal, Odisha, (with a capacity of) three million tonnes," Rajiv Kumar, Chief Executive Officer for the Aluminium business at Vedanta, said. Currently, the company's total capacity stands at 3 million tonnes. "We want to go to six million tonnes, for which we are actively involved in land acquisition, and hopefully things are progressing very well," Kumar said. He was speaking to reporters on the sidelines of ALUMEX India 2025, organised by Aluminium Extrusion Manufacturers Association of India (ALEMAI) in the national capital during September 10-13. This green aluminium smelter, he said, has the potential to create over two lakh jobs. On the investment to be made in the said plant, he said that "Aluminium is very heavy on investment and is a ...

India is the number one office market in the world: Mindspace Reit

K Raheja-backed REIT plans ₹4,000 cr capex, portfolio expansion, and higher occupancy

Yotta Infrastructure may invest $1.5 billion for more Nvidia GPUs

Hiranandani-backed Yotta to double GPU capacity, fueling sovereign AI model development in India

Instamart launches mega sale with up to 90% discounts, 10-min delivery

Swiggy's Instamart launches Quick India Movement 2025 sale from Sept 19 to 28, offering up to 90% discounts, 50,000 products and 10-minute deliveries for festive shoppers

Usha Shriram enters FMCG with Aquaero water, eyes ₹1,000 cr sales in 2 yrs

Usha Shriram on Friday announced its entry into the FMCG segment with the launch of its premium packaged drinking water brand, Aquaero, and outlined plans to double its topline to Rs 1,000 crore in two years before considering an IPO. "Aquaero marks our third brand and our foray into FMCG," Usha Shriram COO Satnam Singh Sandhu said. He added that the packaged water industry in India is valued around Rs 50,000 crore, of which 60-70 per cent remains unorganised. "This space holds immense potential and we see Aquaero playing a strong role in tapping that opportunity," he said and expected GST cut will help boost demand. Usha Shriram zonal manager (east) Rajarshi De said the brand has been launched in Kolkata before it is expanded to other eastern states. Currently, Usha Shriram has a topline of Rs 480 crore. "We are confident of reaching Rs 1,000 crore in the next two years. Once we achieve that revenue threshold, we will look at an IPO," Sandhu said. The company also indicated a r

OYO's Q1FY26 profit more than doubles to ₹200 crore, plans 1:1 bonus shares

IPO-bound travel tech platform OYO's profit after tax (PAT) more than doubled to Rs 200 crore in the first quarter, on the back of robust revenue growth, Founder Ritesh Agarwal shared in an email to the top management on Friday. The email, accessed by PTI, also mentions that the company's revenue grew 47 per cent to Rs 2,019 crore in the April-June period, from Rs 1,371 crore in the year-ago period. The revenue growth was led by premiumisation of hotel inventory and better room utilisation, Agarwal said in a email. The gross booking value (GBV) reached Rs 7,227 crore in the first quarter of the current fiscal year, marking a significant 144 per cent increase year-on-year from Rs 2,966 crore a year earlier. OYO had recorded a profit after tax of Rs 87 crore in the corresponding quarter of the previous year. In a letter to shareholders, the company has sought approval to issue bonus shares in a 1:1 ratio, which will double its authorised share capital to Rs 24,31,13,59,300. It has

TVS Motor launches Ntorq 150, India's first 'hyper sport scooter'

TVS Motor launches the Ntorq 150, India's first 'hyper sport scooter', marking its entry into the high-capacity scooter market with advanced features, performance enhancements, and a 149.7cc engine