Page 64 - Company News

Growth guidance and margin recovery positive for Shriram Finance

SHFL's Q1FY26 net rose 9% year-on-year with stable credit costs, strong disbursement trends and margin guidance of 8.5% by Q4 despite high liquidity on the balance sheet

Near-term recovery, margin expansion key drivers for Nestle India

Nestle India reports a 5.9% YoY revenue growth in Q1FY26, with a focus on recovery and margin expansion despite challenges from high commodity prices

Phoenix Mills to buy CPP's 49% stake in retail JV for ₹5,450 crore

The Phoenix Mills Ltd will buy a 49 per cent stake in its joint venture firm Island Star Mall Developers Pvt Ltd (ISMDPL) from CPP Investments for Rs 5,450 crore as part of its growth strategy. At present, The Phoenix Mills and Canada Pension Plan Investment Board (CPP Investments) hold 51 per cent and 49 per cent stake in ISMDPL, respectively. Post completion of this deal, the company's stake in ISMDPL will rise to 100 per cent from the current 51 per cent. The company develops retail-led mixed-use destinations. According to a regulatory filing on Thursday, The Phoenix Mills, CPP Investments and ISMDPL have entered into an arrangement to provide an exit to CPP Investments from this JV. The company's board has approved this agreement. "CPP Investments shall receive an aggregate cash consideration of Rs 5,449.16 crore from the company and/or ISMDPL," the filing said. The amount will be paid to CPP Investments in four tranches over a period of three years. The Phoenix Mills might

Spring House Workspaces starts 28k sq ft co-working hub in Saket, Delhi

Co-working firm Spring House Workspaces has opened a new centre at Saket in South Delhi comprising 28,000 sq ft area to meet demand from corporates. The centre, located at Southern Park Mall in Saket, can accommodate 450 seats. Mukul Pasricha, Founder & CEO of Spring House Workspace, noted that the demand for managed flexible workspaces is rising from enterprises of all sizes. The company has more than 20 centres across Delhi-NCR covering more than 8 lakh sq ft of office space. Co-working operators have leased 2.6 million square feet office space during the April-June quarter across seven major cities against 1.3 million square feet in the year-ago period, according to real estate consultant Vestian. These operators take space from real estate developers and individual property owners to establish co-working centres and then the workspaces are sub-leased to corporates.

'Great Jeans': Sydney Sweeney campaign fuels American Eagle rally

The company has partnered with Sweeney for its fall season denim collection that includes a limited-edition denim jacket as well as a 'The Sydney Jean'

Dr Reddy's Q1 profit up 1% to ₹1,410 crore, revenue rises to ₹8,545 cr

Dr Reddy's Laboratories on Wednesday reported a 1 per cent increase in consolidated net profit to Rs 1,410 crore during the Juen quarter. The Hyderabad-based drug major reported a net profit of Rs 1,392 crore in the year-ago period. Revenue increased to Rs 8,545 crore in he period under review from Rs 7,673 crore a year earlier. "We delivered double-digit growth this quarter over the same period last year, reflecting our strength in branded markets and positive momentum in the Nicotine Replacement Therapy portfolio," Dr Reddy's Co-Chairman & MD G V Prasad said. The pricing pressure on Lenalidomide is expected to intensify in the US generics market, he noted. "We remain focused on strengthening our base business by delivery of our pipeline assets, improving overall productivity and business development," Prasad said. Shares of the company ended 0.58 per cent up at Rs 1,247.55 apiece on the BSE.

Aurum PropTech acquires home brokerage platform PropTiger for ₹86.45 cr

Aurum PropTech Ltd on Wednesday announced acquisition of housing brokerage platform PropTiger from Australia's REA Group for Rs 86.45 crore as part of its expansion plan. The company will issue preferential shares to REA India as consideration for the acquisition of PropTiger. In a regulatory filing, Aurum PropTech informed that the Board has approved "acquisition of 100 per cent equity shares of PropTiger Marketing Services India Pvt Ltd, India." The acquisition has been done from REA India Pte, Singapore, through an all-stock, strategic equity swap and execution of the Share Acquisition Agreement with REA and PropTiger. The board approved issuance of 42,42,537 equity shares (face value Rs 5) of the company on a preferential basis to REA, as a consideration for acquisition of PropTiger. The cost of acquisition is Rs 86.45 crore, it added. Post-issue of preferential shares, REA India will have 5,54 stake in Aurum PropTech Ltd. Gurugram-based PropTiger, which is part of REA India

India Inc gets faster: Work-in-progress cycle drops to decade low at 14 days

Faster production and smarter tech are helping companies make goods quicker and use their money better

Viceroy Research's claim of ₹2,500 crore sham is baseless: Vedanta

Continuing its triad against mining Moghul Anil Agarwal's Vedanta group, US-based Viceroy Research has alleged that the group's semiconductor unit was a "sham commodities trading operation", designed to avoid classification as an NBFC, a charge the mining conglomerate dismissed as baseless. US short seller Viceroy Research, which last week published a scathing report about Vedanta Group and followed it with similar reports on group companies, in fresh allegations said Vedanta Ltd's subsidiary, Vedanta Semiconductors Pvt Ltd, was part of a scheme to allow the Mumbai-listed firm to remit brand fees to parent Vedanta Resources in April this year, when it faced a severe liquidity crisis. In a statement, Vedanta spokesperson said the group "strongly rejects the baseless allegations made in the report regarding Vedanta Semiconductors Pvt Ltd (VSPL)". "All business activities of VSPL have been transparently disclosed and are in line with statutory norms," it said. Viceroy said, "VSPL is a

Azerbaijan's SOFAZ to buy 49% stake in Enfinity's Italy solar assets

SOFAZ will acquire 49 per cent of Enfinity's 402-megawatt portfolio, which includes 14 solar plants both operating and under construction across Lazio and Emilia-Romagna in central Italy

Dodla Dairy acquires Osam Dairy for ₹271 crore to expand into eastern India

South India-based Dodla Dairy on Friday announced the acquisition of eastern India's premium dairy brand Osam Dairy for Rs 271 crore, marking a significant expansion into the high-growth eastern market. The 100 per cent acquisition of Osam Dairy represents one of the first large-scale deals in eastern India's dairy sector and underscores the region's potential to attract institutional capital, the companies said in a joint statement. "We are thrilled to announce the proposed acquisition of Osam, marking a significant milestone in Dodla's journey. This strategic move underscores our commitment to becoming a pan-India dairy company," Dodla Dairy Managing Director Dodla Sunil Reddy said. He said eastern India is an exciting market for the dairy industry with faster growth compared to the national average, supported by high urbanisation potential and strong GDP growth. The transaction marks an exit for Osam Dairy's promoters Abhinav Shah and Harsh Thakkar, along with private equity ..

Tata Comm Q1 net profit drops 43% to ₹190 crore despite revenue rise

Tata Communications posted a 43 per cent dip in consolidated profit to Rs 190.14 crore in the first quarter ended June 30, 2025. The company had posted a net profit of Rs 332.93 crore in the same period a year ago. The consolidated income from operations of Tata Communications increased by 6.5 per cent to Rs 5,959.85 crore during the report quarter from Rs 5,592.32 crore in the June 2024 quarter, the company said in a regulatory filing on Thursday. Despite ongoing macroeconomic headwinds and continued pressures across the industry, we delivered a stable performance this quarter, with a healthy double-digit growth in our order book and modest uptick in margins," Tata Communications MD and CEO A S Lakshminarayanan said. The company's revenue from data services increased by about 9.5 per cent to Rs 5,151.72 crore.

Shoppers Stop trims Q1 loss to ₹15.74 crore, names new chairman

Retail chain Shoppers Stop Ltd on Thursday reported a narrowing of consolidated net loss to Rs 15.74 crore in the first quarter ended June 30, 2025. The company, which had posted a consolidated net loss of Rs 22.72 crore in the first quarter last fiscal, said its long-serving chairman B S Nagesh will retire from the post after 34 years of service. Consolidated revenue from operations stood at Rs 1,161.08 crore in the first quarter against Rs 1,069.31 crore in the year-ago period, Shoppers Stop Ltd said in a regulatory filing. Total expenses in the quarter under review were higher at Rs 1,192.06 crore compared with Rs 1,104.51 crore in the year-ago period, the company said. Shoppers Stop Managing Director and Chief Executive Officer Kavindra Mishra said the company witnessed sales growth in the quarter, driven by premiumisation. "Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out," he ...

GEF Capital Partners sells 5.55% stake in Premier Energies for ₹2,629 cr

GEF Capital Partners on Tuesday divested a 5.55 per cent stake in Premier Energies for Rs 2,629 crore through open market transactions. Premier Energies Ltd (PEL) is among the largest integrated manufacturers of solar photovoltaic cells and modules (in terms of installed capacity) and specialty solar photovoltaic products in India. US-based GEF Capital Partners through its affiliate South Asia Growth Fund II Holdings LLC sold a total of 2.5 crore equity shares, representing a 5.55 per cent stake in Premier Energies Ltd, as per the bulk deal data available with the NSE. The transaction, valued at around Rs 2,629 crore, was executed at an average price of Rs 1,051.60 per share. Following the stake sale, the shareholding of South Asia Growth Fund II Holdings in Premier Energies declined to 5.55 per cent from 11.10 per cent. Meanwhile, Quant Mutual Fund bought 43.55 lakh shares, amounting to a 0.97 per cent stake in Premier Energies. Also, Premji Invest's arm PI Opportunities AIF V

AMETEK to acquire FARO Technologies in deal valued at $920 million

Under the agreement, AMETEK is offering $44 per share in cash, representing about a 40 per cent premium to FARO's last close. The equity valuation pegs FARO's market value at $846 million

Aurum PropTech appoints Ashish Deora as non-executive director on board

Aurum PropTech Ltd has appointed Ashish Deora as a non-executive director in the company. In a regulatory filing on Tuesday, Mumbai-based Aurum PropTech informed that its board has approved appointment of Deora, who is the founder and CEO of the company's parent entity Aurum Ventures as a Non-Executive Director. Commenting on the appointment, Deora said, "India PropTech sector represents a USD 100 billion opportunity across consumer tech, enterprise tech and fintech offerings." Since its inception in April 2021, he said the company has strategically combined organic and inorganic routes to grow its business. "As Aurum PropTech continues its journey toward achieving Rs 1,000 crore in revenue, fuelled by our rental, distribution, and capital offerings, I am excited to witness the technology-driven transformation of real estate, making it truly future-ready," said Deora, an alumnus of Harvard Business School. Over the last three decades, Aurum Ventures has entered into various ...