Page 60 - Company News

Snowflake ramps up India investments, targets growth across sectors: MD

AI data cloud firm Snowflake views India as a "land of opportunities" for data and AI, and is significantly increasing its investments in the country to tap into its massive potential, a top company official has said. The company is strategically expanding its presence and capabilities, aiming to grow its headcount to over 700 employees by the end of 2025. "Snowflake is doubling down on India as an investment destination. As a destination where we are heavily invested to make sure that we serve the Indian market, we serve global customers from India, and we also invest in the country in terms of AI and skill sets out there. "If you look at the world of data in India, we have a lot of headroom to expand, not only Snowflake, but most players in this space, there's a massive headroom to expand," Vijayant Rai, India MD of Snowflake, told PTI. The company has recently opened a new office in Mumbai and plans to expand its presence in Bengaluru by August 2025. These expansions will suppo

Liberty Steels pushed into liquidation move puts 1,500 jobs at risk

The UK government-run Insolvency Service confirmed it will be acting as the liquidator after a High Court ruling

Ola Electric's AGM: Shareholders approve reallotment of IPO funds

Ola Electric on Friday said it has secured shareholders' approval on the reallocation of funds raised through IPO, unlocking capital to drive the next phase of growth, and further strengthening the balance sheet. The Bengaluru-based firm on Friday concluded its first AGM since going public in 2024. As per exchange filings, 99 per cent of shareholders voted in favour of the resolution to reallocate IPO proceeds, signalling investor trust in the company and its long-term vision. This will fully meet the company's near-term organic growth capital requirements, it added. In order to fuel the next phase of growth for the business, the company has strategically reallocated funding for organic growth initiatives, general corporate purposes, and debt repayment, it said. After the reallocation of funds, the unutilised amount is as follows: Rs 1,049 crore for R&D investment, Rs 901 crore for organic growth initiatives, Rs 395 crore for debt repayment/prepayment, and Rs 248 crore for general

Titagarh Rail Systems bags record ₹467 cr coastal vessel order from GRSE

Titagarh Rail Systems Ltd (TRSL) on Friday said its Shipbuilding and Maritime Systems Division has secured its largest-ever order valued at Rs 467.25 crore from Garden Reach Shipbuilders & Engineers (GRSE). The order pertains to the construction and delivery of two Coastal Research Vessels (CRVs) for the Geological Survey of India. The CRVs will be equipped to conduct seabed geology studies, mineral exploration, ocean environment monitoring and long-duration scientific research, bolstering India's maritime research infrastructure, according to a statement. TRSL had earlier delivered specialised vessels, including CRVs for the National Institute of Ocean Technology (NIOT), it said. The company has also executed projects such as ICGS Kamla Devi (FPV) and MV Ma Lisha (Cargo RoPax) for Guyana. It has delivered over 35 vessels so far, and continues to build on its maritime systems expertise, the statement said. The company had recently announced that it will incorporate a wholly-owned

Air India Mumbai-Jodhpur flight aborts takeoff due to 'operational reasons'

Air India flight flight from Mumbai to Jodhpur aborted takeoff and returned to the bay on Friday due to "operational" reasons. Alternative arrangements were made to fly the passengers to their destination, Tata-owned Air India said in a statement, without sharing further details. "Flight AI645 operating from Mumbai to Jodhpur on August 22 returned to bay due to an operational issue. The cockpit crew decided to discontinue the take-off run following standard operating procedures and brought the aircraft back," the statement added. "Our ground team in Mumbai had extended immediate assistance to minimise the inconvenience," the statement added.

Flipkart and China businesses lift Walmart's sales numbers in Q2FY26

US-based retail giant Walmart on Thursday reported a 10 per cent growth in its international business in the second quarter of FY26 in constant currency terms, helped by Indian e-commerce arm Flipkart along with the China market and Walmex. Walmart International, which operates in 18 countries outside the US, including India, had a "growth in net sales led by China, Walmex, and Flipkart", according to the earnings statement from the Bentonville-headquartered firm. Moreover, transaction counts and unit volumes were up across markets of Walmart International, it added. Walmex is the Mexican and Central American division of Walmart. Walmart, which follows February-January financial year, reported a USD 32.7 billion in sales from its international business, registering a growth of 10.5 per cent on constant currency terms. Its net sales were at USD 31.2 million, up 5.5 per cent. Walmart's overall revenue was at USD 177.4 billion, up 4.8 per cent year on year, and 5.6 per cent higher i

Vedanta board approves second interim dividend of ₹16 per share for FY26

Mining major Vedanta Ltd on Thursday said its board has approved the second interim dividend of Rs 16 per share for the current fiscal, amounting to an outgo of Rs 6,256 crore. The company had earlier announced a dividend of Rs 7 per share in June this year. The first dividend had led to an outflow of Rs 2,737 crore. "The board of directors of Vedanta Ltd at its meeting held today...has considered and approved the second interim dividend of Rs 16 per equity share on face value of Re 1 per equity share for financial year 2025-26 amounting to Rs 6,256 crore," the company said in a filing to BSE. The record date for the payment of dividend will be August 27, 2025, it said. Vedanta had announced a total dividend of Rs 43.50 per share in last financial year.

Armenia's TUMO first India centre in Mumbai to offer free digital training

TUMO has completed pilot programmes and is now set to launch its Mumbai centre, which will accommodate up to 1,500 students, said Pegor Papazian, Chief Development Officer, TUMO

Yakult sees India becoming one of its top 10 global markets in future

Japanese probiotic fermented milk major Yakult is betting on the potential of India, which it believes could break into its top ten global markets in the future, driven by a growing middle class, a senior company official said on Thursday. The company, which operates in India as a 50:50 joint venture between Yakult Honsha, Japan, and Groupe Danone, France -- two global probiotic leaders, is seeking to expand in the mass segment and has roped in Bollywood Actor Taapsee Pannu, as its new brand ambassador. "The growth (expectation in India) is double-digit growth for this year and the next year also," Yakult Danone India Pvt Ltd Managing Director Eiji Amano told PTI here. On the road ahead for the company in India, he said the target would be to achieve double-digit growth every year until 2030, reflecting the growing demand for probiotics and the confidence it has in the Indian market. After the COVID-19 pandemic, Yakult has witnessed accelerated growth, he said, adding that the ...

Amazon to revamp Fire tablets with Android in major Kittyhawk project

As part of a project known internally as Kittyhawk, Amazon plans to release a higher-end tablet as soon as next year offering the Android operating system software for the first time

IdeaForge Technology launches Q6V2 GEO drone for advanced mapping uses

City-based drone technology company IdeaForge Technology Ltd on Wednesday unveiled its mapping drone for a host of applications, including glacier mapping, complex urban landscapes surveys, conducting dense forest studies, or monitoring industrial corridors. The global debut at the company's inaugural customer event marks a significant milestone in IdeaForge's mission to equip industries, government agencies, and researchers with cutting-edge aerial mapping and intelligence capabilities, it said. The latest survey-grade UAV, purpose-built to map anything, anywhere, with all-terrain performance, even in the most extreme environments, offers more than 50 minutes of flight time with a LiDAR payload, under 7 kg take-off weight, among others, IdeaForge said. The Q6V2 GEO enables urban planning teams to build 3D city models and conduct infrastructure audits, helps the mining sector calculate volumes and automate compliance reports, and supports utility companies with tower inspections and

IPO-bound Tata Capital profit more than doubles to ₹1,041 cr in June qtr

Non-banking financial company Tata Capital on Monday reported more than doubling of its consolidated net profit to Rs 1,040.93 crore for the quarter ended June 2025. In the same quarter last year, the IPO-bound company had reported a profit of Rs 472.21 crore. Total income rose to Rs 7,691.65 crore for the quarter under review from Rs 6,557.40 crore in the April-June quarter of FY2025, Tata Capital said in a regulatory filing. Earlier this month, Tata Capital filed updated draft papers for a mega initial public offering (IPO), with people familiar with the matter pegging the issue size at USD 2 billion (Rs 17,200 crore). This would value the company at around USD 11 billion. According to the updated draft red herring prospectus (DRHP), the proposed IPO of 47.58 crore shares comprises a fresh issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares. Under the OFS component, Tata Sons will offload 23 crore shares, while the International Finance Corporation

Where your data resides is a fundamental question: IBM's Hans Dekkers

IBM Asia Pacific head on India's data sovereignty push, AI adoption, and cloud evolution

Air India cancels Milan-Delhi flight due to last-minute technical fault

Tata Group-owned private carrier Air India on Sunday said it cancelled its Milan-Delhi flight of August 16 after detecting a maintenance issue at the last minute. Alternative arrangements are being made to fly the passengers to their destination at the earliest, Air India said in a statement. "Flight AI138 operating from Milan to Delhi on August 16 was cancelled due to a maintenance task identified during pushback," the statement said. "Our ground team in Milan extended immediate assistance to all the affected passengers, providing hotel accommodation and offering full refunds on cancellation or complimentary rescheduling as opted by the passengers," it said. According to Air India, along with the maintenance issue, the operating crew of the flight come under the mandatory flight duty-time limitation norms. Air India generally operates its Boeing 787-8/9 aircraft fleet to cater to European destinations. The airline, which came under private hands in January 2022, has, of late, be

United Spirits Q1 results: Profit dips 14% to ₹417 cr, revenue at ₹6,295 cr

Diageo-controlled liquor maker United Spirits Ltd on Wednesday reported a 14 per cent decline in its consolidated net profit to Rs 417 crore for the June quarter of FY26. The company had posted a net profit of Rs 485 crore a year ago, according to a regulatory filing from United Spirits Ltd (USL). Its revenue from operations was marginally up at Rs 6,295 crore during the quarter under review. It was Rs 6,238 crore in the corresponding period of the previous fiscal. USL's total expenses stood at Rs 5,776 crore, up 2.79 per cent in the June quarter. In the June quarter, "EBITDA was Rs 644 crore, down 9.7 per cent, largely due to a one-off indirect tax item impact and relatively higher A&P in the standalone business", said USL in its earnings statement. In the June quarter, USL's income from the 'Beverage alcohol' segment rose 8.37 per cent to Rs 2,549 crore. Its sports business, Royal Challengers Sports Private Ltd (RCSPL), which owns the RCB team for IPL and WPL, registered a 15.7

TACC, CRRI partner to boost graphene use in durable road construction

LNJ Bhilwara Group firm TACC Ltd on Wednesday announced its collaboration with Central Road Research Institute (CRRI) to promote the use of graphene in road construction and infrastructure projects. This initiative will help redefine the road-building process, while driving the nation closer to its national and global sustainability goals, a statement said. The partnership aims to infuse graphene's properties into Indian pavements to deliver stronger and more durable roads, TACC, which produces graphene-based additives, said. TACC is positioning graphene as a strategic enabler in India's journey towards resilient, efficient, and climate-conscious infrastructure, complementing national initiatives like PM Gati Shakti and India's 2070 net zero emissions, it added. "Our partnership with CRRI ensures that cutting-edge research is translated into real-world impact, building roads that last longer, require less maintenance, and significantly reduce environmental footprint," Ankur Khaitan

ABFRL Q1 results: Net loss widens to ₹234 crore despite revenue rise

Aditya Birla Fashion and Retail Ltd (ABFRL) on Wednesday reported widening of consolidated net loss at Rs 233.73 crore for June quarter FY26. The company had posted a loss of Rs 214.92 crore during April-June quarter a year ago, according to a regulatory filing from ABFRL. Revenue from operations was at Rs 1,831.46 during the quarter as compared with Rs 1,674.22 crore a year ago. Revenue from 'Pantaloons' was at Rs 1,094.13 crore as against Rs 1,101.38 crore a year ago. Revenue from 'Ethnic and Others' segment was down to Rs 754.57 crore in the first quarter. Total expenses were at Rs 2,148.75 crore in April-June FY26. In the quarter, ABFRL completed the demerger of Madura business into a separately listed entity named Aditya Birla Lifestyle Brands Limited (ABLBL). ABLBL will have its lifestyle brands business as - Louis Philippe, Van Heusen, Allen Solly, Peter England, Simon Carter and youth western wear brands as American Eagle. It also has sportswear brand Reebok business, f

Jubilant Foodworks Q1 results: Profit jumps 63% to ₹94 cr on strong sales

Jubilant Foodworks Ltd (JFL), which operates fast-food chains Domino's Pizza and Dunkin' Donuts, on Wednesday reported a 62.58 per cent increase in consolidated net profit to Rs 94.33 crore during the June quarter. The company has reported a net profit of Rs 58.02 crore for the April-June period a year ago, JFL, which is part of the Jubilant Bhartia Group, said in a regulatory filing. Revenue from operations was up 16.95 per cent to Rs 2,260.86 crore in the June quarter from Rs 1,933.06 crore a year ago. Its total expenses were Rs 2,153.74 crore in the June quarter, up 15.3 per cent. JFL's total income, which includes other income, was up 16.88 per cent to Rs 2,279.39 crore. JFL's revenue from the Indian market during the quarter was Rs 1,701.6 crore, up 18.2 per cent, driven by 17.7 per cent growth in Domino's India business, the company said in its earnings presentation. "In Turkey, sales came in at Rs 9,300 million (Rs 930 crore)... Domino's Sri Lanka revenue of Rs 248 million

Aditya Birla Lifestyle Q1 results: Profit up 5% to ₹24 cr post demerger

Aditya Birla Lifestyle Brands Limited (ABLBL) on Wednesday reported a 4.92 per cent rise in its consolidated net profit to Rs 24.06 crore for the June quarter of FY26. It posted a net profit of Rs 22.93 crore in the April-June period a year ago, according to a regulatory filing of the Aditya Birla Group, which has been formed after the demerging of the business of Madura Fashion and Lifestyle. This is the first quarter result of ABLBL, which was listed on the bourses on June 23, 2025, following the demerger. Revenue from operations of ABLBL grew 3.14 per cent to Rs 1,840.58 crore in the June quarter of FY26. It was Rs 1,784.47 crore in the corresponding quarter a year ago. Total expenses of ABLBL stood at Rs 1,834.94 crore, up nearly 4 per cent in the June quarter. Its total income, which includes other income, in the June quarter increased 3.58 per cent to Rs 1,863.11 crore. As per the scheme of arrangement, its lifestyle brands business, such as Louis Philippe, Van Heusen, Alle

Muthoot Finance Q1 results: Profit surges 90% on strong gold loan growth

The company also approved equity infusion of ₹5 billion and ₹2 billion in its units, Muthoot Money and Muthoot Homefin, respectively