Corporate announcements, quarterly results, leadership changes, and major company updates.
Walmart has initiated a probe into alleged kickbacks of over INR 150 crore by certain employees at Flipkart, according to various media reports. Vendors were allegedly bribing employees in the smartphone and luggage divisions with favours in exchange for favourable marketplace treatment.
Indian military startup IG military has inked an MoU with Oman-based MSA Global to investigate co-development and localisation of advanced defence systems for Oman and the wider GCC region. The planned alliance will look at three indigenous platforms including KAL, BAJ and JWALA.
Meta wants to raise $95 billion for infrastructure for AI and superintelligence projects, including data centers and building AI agents. It will first issue $35 billion via underwritten public offerings, and then $60 billion via an at-the-market programme.
Blackstone is expanding its India operations and global capabilities by opening its first Global Capability Center (GCC) outside the US in Bengaluru. The center will assist financial, technology, legal, compliance and human resources departments and will collaborate with Blackstone’s global teams.
Microsoft is providing voluntary leave incentives to about 60,000 employees in the US, Canada, India and the UK as it seeks to balance staff expenses against increasing spending on AI infrastructure. The program is intended for selected personnel and follows previous staff cutbacks.
IMWA and SWA have inked an agreement to work together on sustainability, product authenticity, legal protection, intellectual property and responsible consumption. The deal comes as the India-UK Free Trade Agreement decreases Scotch whisky import duties.
CEO Elon Musk said SpaceX has raised $40 billion in debt financing to buy AI chips, with money coming in the first and second quarters of 2027. The money will be used mostly to purchase GPUs as SpaceX grows its artificial intelligence business.
Nokia has signed a five year deal with L&T Technology Services (LTTS) for engineering and R&D support in India. As part of the arrangement, LTTS will set up an Offshore Development Center and a dedicated engineering team.
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Eternal’s District is looking into specialised live-event spaces as a way to lower concert expenses, and protect its business against AI-driven booking disruption. The company is in discussions with governments and possible partners to build event infrastructure in major Indian cities.
IBM India has acquired a 10-year lease for 2.83 lakh sq ft in Bagmane Solarium City in the Whitefield-Brookefield district of Bengaluru. The lease comes with a monthly rent of INR 2.49 crore from February 2026 and a 15% hike every three years.
Chinese energy storage firm Sigenergy forms a JV with Failte Energy of India to invest $250 mn in India, With this investment, JV will set up production facilities for inverter and battery energy storage systems. Sigenergy plans to launch its inverter plant by the second quarter of 2027.
Vikram Solar will commission production at its 9 GW N-type TOPCon solar cell plant in Gangaikondan, Tamil Nadu, in December 2026. The factory is expected to be commissioned in phases and is intended to lessen India’s reliance on imported solar cells.
ndian automaker Force Motors has teamed up with Rosmerta Auto Recycling to provide authorised vehicle scrapping and recycling in India. The cooperation would assist Force Motors customers to dispose of end-of-life vehicles with proper documentation, depollution, dismantling and material recovery.
Shiprocket has forayed into the **food delivery market** with its fastrr platform, in partnership with Vegorama Group, which runs Bikkgane Biryani and Punjabi Angithi. The direct-ordering concept is designed to help restaurants cut aggregator commissions.
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KENT RO Systems has joined the renewable energy sector of India by investing INR 250 crore to set up a lithium battery and inverter facility in Noida. Its new division, Kent New Energy, will start with 3.5 GWh of capacity and target 10 GWh in six months.
A New Mexico judge has ordered Meta to pay a $25 billion penalties for breaching consumer protection and user data privacy regulations. It determined Meta deceived users about safeguarding their personal information, following enquiries stemming from the Cambridge Analytica data scandal.
Eternal, the parent company of Zomato and Blinkit, wants to internationally debut its privacy-focused AI helper Dark.AI by the end of 2026. Founder Deepinder Goyal said the platform is for customers who want to have private talks, do sensitive research and make secret requests.
DP World will invest the remaining $2 billion of its $5 billion investment in India as demand and capacity expansion increase. The global ports and logistics giant has already invested $3 billion in India and will concentrate on ports, logistics centers, warehouses etc.
InvoiceCloud said on Tuesday it will invest INR 350 crore over 3 years to scale up its global innovation hub in Hyderabad, concentrating on areas including artificial intelligence, product development etc. The digital billing and payments startup has grown its India team to over 250 employees.
Tesla has announced the opening of bookings for the next-generation Roadster Performance and Thrust models in India with an initial amount of INR 5.01 lakh. The electric sports car will offer phenomenal acceleration while the special Rocket version may feature rocket-inspired propulsion.
JLR India is growing its retail network in Delhi-NCR with a move to a larger integrated facility in Delhi and the inauguration of a new dealership in Gurugram. The luxury car company now has 33 retail outlets in 26 Indian cities, buoyed by high demand for its products.
The bond rout at CoreWeave adds to concerns about debt risks driving the artificial intelligence boom, since the AI cloud provider is saddled with about $50 bn of debt. As bond yields rise and default risks increase, investors are wondering if future AI revenues will justify.
Reliance Industries has replied to Elon Musk's claims of delays in the India launch of Starlink, stating Indian restrictions apply equally to domestic and foreign enterprises. Reliance said its satellite internet services were also seeking regulatory clearances.
Goldman Sachs sold 53.4 lakh shares of Eternal for INR 168.7 crore in a block sale. Bank of America bought the stake through its subsidiary. The deal comes as Eternal’s shares have risen 16.2% this year on strong investor demand.
Fairfa has offered to transfer its holdings in Go Digit Insurance and Go Digit Life Insurance to IDBI Bank. A separate proposal has been made with IIFL Capital Services. This follows the Indian government’s selection of a Fairfax subsidiary as the strategic bidder for a 60.72% interest in IDBI Bank.
WhatsApp has announced guest calling, which enables users without an account to join audio and video calls through invitation links without installing the program. The functionality offers end-to-end encryption, screen sharing, and up to 32 participants on calls.
Canadian subsurface engineering company VZFOX is setting up its India base in Bengaluru by the end of 2026 with an initial five workers. The company wants to enter India’s oil and gas market through collaborations with engineering, EPC companies, project developers and energy operators.
boAt has forayed into Sri Lanka and Bhutan under boAt 2.0 effort to strengthen its presence in foreign markets. FY26 saw international sales of the consumer electronics brand grow over 100% to INR 45 crore even as total revenue declined 5% to INR 2,931 crore.
Citi has completed an aircraft financing transaction worth $328 mn with IndiGo for the acquisition of 8 Airbus aircraft, comprising six A321s and two A320s. The transaction, structured using GIFT IFSC, is the first aviation finance transaction to be covered by Belgian export credit agency Credendo.
Zoho Corporation has stopped yearly wage increases and cut marketing expenses as it confronts increasing AI infrastructure costs and software industry uncertainties. “Server prices have gone up four times, which has increased operational expenses,” founder Sridhar Vembu stated.
Freshworks has agreed to buy Israeli SaaS management platform Torii to enhance its Freshservice IT service management capabilities. The acquisition would strengthen capabilities around software usage tracking, license management, AI spend governance and shadow IT identification.
Indian, US and Chinese investors have shown interest in Peru’s proposed $844 million Corio port project as the South American country looks to boost commercial ties with Asia. The port has the potential to boost Peru's maritime capacity, accommodate larger boats and export copper and other minerals.
McCain Foods is expanding its manufacturing footprint in India through the acquisition of the frozen potato processing business of Falcon Agrifriz Foods in Gujarat. The acquisition will add to McCain’s current activities in Mehsana and boost the company’s developing domestic and export markets.
Rajesh Power Services has bagged turn-key contracts aggregating INR 471.92 cr from MGVCL for upgradation of overhead power lines & creation of underground power distribution networks in Gujarat. The projects being executed under the SI Scheme Robust-III are to be finished in 18 months.
Tata Consultancy Services (TCS) aims to ensure that 80% of its new personnel has digital and AI skills, with 25–30% of them specialising in artificial intelligence. “As demand for advanced technology skills grows, we will continue with this hiring strategy,” said COO Arathi Subramanian.
FMCG majors, including Emami, ITC, Britannia and Orkla India, are reportedly eyeing a stake in healthy food brand Farmley, which may be worth at INR 2,000 crore. Early investors with a 31% stake in the company are mulling an exit and anticipate to receive preliminary bids by the end of October.
Rolls-Royce wants to increase its footprint in India in areas including defence, aerospace, civil aviation and energy. CEO Tufan Erginbilgiç held a meeting with Prime Minister Narendra Modi on strategic alliances supporting India’s economic growth and national security.
Tata Consultancy Services (TCS) onboarded 10,000 freshers in Q2 FY27 and aims to maintain demand-led hiring as technology demand remains high. The IT firm is focusing on upskilling its employees, artificial intelligence (AI) skills and niche expertise to further increase delivery readiness.
Retail traders oppose introduction of UPI MDR costs from October 15; may be deferred to January 1, 2027. Under the proposed framework, a 0.40% MDR would be charged on qualified UPI merchant transactions exceeding INR 2,000, up to a maximum of INR 300.
Tata Power, partners with Norwegian renewable energy tech firm Ocean Sun for membrane based floating solar equipment in India. The businesses will pilot Ocean Sun’s revolutionary solution in a 300 kWp pilot at Tata Power’s Mulshi reservoir in Maharashtra.
Elon Musk has accused “certain oligarchs” of blocking the introduction of Starlink in India to protect a monopolistic stranglehold on the market. Starlink has made significant investments in India and is awaiting government clearances such as foreign direct investment and security clearance.
Brookfield has entered India’s logistics space by acquiring a portfolio of 10.5 million sq. ft. of logistics and industrial real estate from ESR India for INR 4,300 cr. The portfolio is spread across 400 acres in 6 metro clusters with 8 Grade A parks in Mumbai, Pune, Delhi-NCR, Chennai and Kolkata.
Larsen & Toubro (L&T) has got the letter of award to develop the main plant of a 1,600 MW thermal power project in Chandrapura, Jharkhand. DVC CIL Power will have two 800 MW ultra-supercritical units and L&T will be responsible for essential equipment and engineering.
Meta is piloting a new video-first Facebook experience in India that opens the app right into full-screen video and highlights Reels. The new UX is aimed to increase video engagement, with some users given the option to revert to the Feed-first experience.
Paramount Skydance has finalised its $11 billion takeover of Warner Bros. Discovery, one of Hollywood’s biggest media giants. The unprecedented merger will combine key franchises including Mission: Impossible and Harry Potter, and Paramount+ and HBO Max, CBS, TNT and other networks.
Uber is buying US workplace catering platform ezCater for $2.3bn in an all-cash deal to boost Uber Eats’ footprint in group catering and company meals. ezCater connects companies with more than 140,000 restaurants, and has more than $2.5 billion in revenue bookings in the last 12 months.
JioHotstar has expanded its international streaming footprint to the Middle East and North Africa (MENA) region, outside of India, the UK, Canada and Singapore. STARZPLAY is now accessible in the UAE, Saudi Arabia, Qatar, Egypt, Kuwait, Bahrain, Oman, Jordan, Morocco and more regions.
Meesho’s Content Commerce business grew by 152% year-on-year in Net Merchandise Value (NMV) from authors in non-metro Indian cities. Almost 90% of its 1.6 lakh active producers are nano creators and 81% of them are outside the big urban centers.
Huawei and Qualcomm have entered into a multi-year patent licensing arrangement that covers 5G, artificial intelligence, computing and networking technologies. Under the transaction, Qualcomm will purchase a portfolio of US patents from Huawei.
The FBI fired an Accenture contractor after a security lapse exposed sensitive personal data of thousands of FBI workers. The hack apparently involved Oracle PeopleSoft software and a vulnerability that was thought to have been exploited by the ShinyHunters criminal gang.
PhysicsWallah’s arm FinZ Finance has agreed to sell a loan portfolio worth INR 95.79 cr to NBFC Auxilo Finserve, with the transfer anticipated to be completed within 60 days. The deal will partially close the lending activities of FinZ Finance.
Honda has teamed with Tata Technologies to create vehicles for the Indian market, with the aim of reducing vehicle prices by 20% and development time by 50%. The alliance comes as Honda retools its India strategy amid increased competition and pressure to bring more inexpensive vehicles.
Reliance Jio has now introduced the JE6000 AX3000 Wi-Fi extender in India for INR 3,499, offering an economical solution to enhance connectivity in the home. The dual-band Wi-Fi 6 extender offers combined speeds of up to 3,000 Mbps.
Schneider Electric has agreed to purchase US-based software business PTC in an all-cash deal worth $22.6 billion for the company’s shares and $23.7 billion including enterprise value. The offer of $205 a share is 42.3% over PTC’s most recent closing price.
Lockheed Martin is eyeing to scale up its India manufacturing operations with a potential $10.5 billion Indian military aviation deal for 60 medium transport aircraft. The company has teamed up with TASL to bid for the project under which it will build 48 aircraft in India and supply 12 directly.
DoorDash launches new global competence center in Hyderabad, Telangana, expects to create 3,000 jobs in India over next two years The centre’s initial focus will be on customer service, business operations and administration with 500 people planned in the first phase.
Jio Finance and Allianz Europe BV have each invested INR 320.05 crore in Jio Allianz General Insurance through a rights issue, making the total funding amount INR 640.10 cr. The funding will be used for the general insurance business in India, including health insurance, by the 50:50 joint venture.
Apple Pay has launched in India with Axis Bank as its first banking partner and qualifying Visa and Mastercard users will be able to make contactless payments through iPhone, iPad and Apple Watch. The solution works for both in-store and online transactions wherever NFC payments are allowed.
ITC has completed the acquisition of 100 per cent of Yoga Bar maker Sproutlife Foods by acquiring the remaining 52.5 per cent interest for roughly INR 645 crore. Sproutlife will be a wholly owned subsidiary of ITC as of September 28.
Flipkart Ventures has also invested in AI firms Alive and Keploy, supporting them with finance, strategic mentoring and access to Flipkart’s ecosystem to help fuel their growth. Flipkart Ventures has invested in more than 20 early stage firms in AI, consumer internet, logistics-tech & more.
HSBC is stepping up its wealth management playbook in India to target high networth clients and expand its footprint beyond the major cities. The bank wants to grow the number of branches from current 34 to 46 in next two years.
ITC is building its dairy business in Eastern India with its Aashirvaad Svasti brand focused on fresh milk and value added goods including curd, paneer, lassi and Mishti Doi. The company has emerged as the second largest dairy player of Bihar and is operating in Bihar, West Bengal and Jharkhand.
Zed Entertainment raises stakes in copyright fight with JioStar, moves contempt action in Delhi High Court Zed argues that JioStar continued to use its copyrighted music even after the May injunction banning the publishing, broadcasting, streaming and uploading of licensed compositions.
Private equity company TPG has sold its 2.21% interest worth INR 202 crore in FirstCry via a bulk deal. NewQuest Asia Investments sold 1.2 crore TPG shares at INR 175.15 each III. Goldman Sachs Investments Mauritius bought 68 lakh shares worth INR 119 crore.
Ayurvedic hair care brand Sesa Care’s merger with Dabur India has received nod from NCLT. Dabur bought 51% of Sesa Care in October 2024 and had authorised the merger in May 2025. The deal is intended to boost Dabur’s hair care portfolio and provide cost and revenue synergies.
Amazon will spend $3 billion on India’s quick-commerce company, Amazon Now, by 2030, with $1 billion of that to be spent by the end of 2027. The investment will assist neighbourhood warehouses, fulfilment centers, inventory systems, demand forecasts and product selection.
Starbucks is closing around 250 underperforming outlets in North America, or 1% of its store count in the region. Most of the closures are slated to take place by the end of fiscal 2026 as CEO Brian Niccol continues efforts to improve customer experience and financial performance.
Adani Group has declared plans to invest over ₹1 trillion in West Bengal by 2035, including ports, logistics, power, highways, green cement and data centers. Chairman Gautam Adani pointed to the state’s strategic position and potential as a major hub for trade.
PhonePe said it wants to engage more than 20,000 frontline staff and roll out over 5 million payment devices across India over the next 12 months. The company will focus on rural and Tier 6 regions.
Amazon is expanding its AI efforts and hiring former employees, including some who were laid off, for positions in artificial intelligence, machine learning and cloud computing. Ex-employees have been approached by recruiters about potential roles and fast-tracked interview processes.
Awfis Space Solutions has launched a 100,000 sq ft luxury coworking center, Elite by Awfis at Prestige Trade Center in Delhi Aerocity. The new workplace is for global capability centers (GCCs), large organisations and offers built-to-suit and ready-to-move-in offices.
Amazon has launched its first fulfilment and sort centers in Varanasi, Uttar Pradesh, strengthening its delivery network and creating hundreds of jobs ahead of the Christmas season. The new facilities are part of Amazon’s growing logistics footprint across the state.
Zetwerk and US-based Ayr Energy have resolved their legal dispute, agreeing to dismiss the allegations pending before the Texas Business Court and to seek termination of the related USITC Section 337 inquiry.
This investment of $100 million by Binance in Circle signifies the extension of the strategic relationship to promote USDC worldwide on its platform. The five-year deal will focus on driving the use of USDC, particularly in emerging economies.
Parag Milk Foods is planning to invest roughly INR 100 crore to increase its paneer production capacity from 20 MT per day to 80 MT per day. The company will add 60 MT per day at its Manchar plant in Maharashtra and Palamaner facility in Andhra Pradesh and expects to be operational by June 2027.
PhonePe has got first permission from the UAE Central Bank for two payment licenses for retail payment services, card schemes and stored value facilities. The fintech has yet to commence commercial operations in the UAE and is seeking final regulatory permission.
Paramount Skydance has resolved an antitrust lawsuit filed by 12 U.S. states over its $81 billion purchase of Warner Bros. Discovery, a big hurdle cleared for merging. The settlement includes promises to promote U.S. film production, help workers affected by the transaction and more.
JioStar has entered into a multi-year agreement with SES to expand its robust television broadcast services across India and the Indian subcontinent. Under the terms of the agreement, SES will deliver JioStar’s TV channels via the IS-20 satellite, cable, DTH and broadcast networks across the region.
Tesla is under trial on claims of racial discrimination and harassment of Black workers at its factory in Fremont, California. Black employees were subjected to racial slurs, graffiti, unequal pay, less promotion prospects and were segregated into lower-paying jobs.
Apple Pay may be launched in India in Oct with support for Axis Bank credit cards. Deals with HDFC Bank and ICICI Bank are yet to be confirmed but Apple is also in talks with the banks for future cooperation. This would allow customers to make contactless purchases using iPhones and Apple Watches.
Applied Materials to invest $5 billion in India over next decade to boost country’s semiconductor ecosystem, green energy ops. The US semiconductor equipment giant will build a 140-acre research park, develop its Indian supply chain and add to its global supplier base.
Amazon has introduced Alexa+ in India, with improved conversational AI, kids-friendly features and parental controls. The AI assistant supports English, Hindi and Hinglish and has smart home control, shopping, meal planning, restaurant reservations, music and entertainment capabilities.
BharatPe parent Resilient Innovations has approached the Delhi High Court against Centrum Financial Services and JBCG Advisory Services for alleged illegal transfers and encumbrances of Unity Small Finance Bank warrants.
Bombay Shaving Company has been asked by the Delhi High Court to delete a contentious razor commercial that had shown a courtroom and a judge. The ruling came in the backdrop of a suit filed by Gillette India against Visage Lines Personal Care for trademark infringement and disparagement.
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Canva has teamed up with Reliance Jio to provide qualified Jio members with free access to Canva Pro or Canva Pro Lite for up to 12 months. The INR 399 Jio plan will feature Canva Pro while the INR 349 plan and select 2GB-per-day plans would have Canva Pro Lite.
Solar Industries will be acquiring South Africa-based Omnia Holdings through its step down company Solar SA Investments in an all cash deal valued at over INR 12,951 crore. Mining, agriculture, fertilisers and industrial explosives are the areas of activity for Omnia in 23 countries.
Airtel and Jio have urged the TRAI to direct Vodafone Idea (Vi) to investigate the charges of unfair trade practices and file a report. Telecom rivals also want stronger rules on fraudulent client acquisition practices related to mobile number portability (MNP).
Amazon is extending its India logistics network with 150 last-mile delivery locations, 20 fulfilment centers and six sort centers ahead of the festive shopping season. The development is part of its approximately INR 2,800 crore investment in infrastructure and operations.
PwC India and PwC US are entering into a joint venture to combine PwC India’s consulting business with PwC US’s acceleration centers in India. The planned JV will employ about 40,000 people and will be owned 49.9% by PwC India and 50.1% by PwC US.
Essar Group has bought UK petrol station operator SGN Retail, which has 118 outlets, to add to its existing fuel retail network. The acquisition will see Essar Energy Transition Retail’s UK petrol stations increase to 235 as the firm seeks 800 locations by 2031.
Luminous Power Technologies to invest INR 2,000 crore over 5 years to accelerate expansion, expand solar & energy storage companies The firm is establishing a 1.2 GW solar cell manufacturing unit in Odisha and a 500 MWh lithium-ion battery facility in Himachal Pradesh.
Google announces five new efforts in India to help the country’s climate goals by merging AI, renewable power and climate technologies. Initiatives include a 150 MW solar project in Rajasthan with ReNew Power, rooftop solar intelligence on 300 million structures and more
HDFC Bank gets a legal reprieve as Bahrain High Civil Court throws down all 7 investor cases relating to Credit Suisse Additional Tier 1 (AT1) bonds. The investors had sued the bank of carelessness, deception and inadequate disclosure over their bond transactions.
The Delhi High Court has blocked home-care company Beco from launching an advertising campaign against Hindustan Unilever's Vim and Surf Excel products. HUL took on Beco’s #WarOnWhatsHidden campaign, arguing that it was portraying its products as a physical hazard.
Flipkart is trialling its “Eat In” meal delivery service among employees in Bengaluru as it looks to foray into online food shopping. The Walmart-backed company is also testing a separate Flipkart Minutes app with limited consumers ahead of a larger launch before the Big Billion Days sale.
Qualcomm has given Amazon rights to purchase 25 million Qualcomm shares worth $4 billion, as part of a new cooperation with AWS to develop customised data center chips. The transaction boosts Qualcomm’s push into AI infrastructure, especially inference, and raises competition with Nvidia.
Adani Airport Holdings Ltd (AAHL) is selling a 5.54% interest to a consortium that includes Alpha Wave Global, Temasek, Premji Invest and funds managed by BlackRock for INR 9,825 crore ($1 billion). The transaction values AAHL at some $18 billion before the investment.