Corporate announcements, quarterly results, leadership changes, and major company updates.
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.
📚 Learning
Want to open a Zudio franchise in India? Explore the investment required, FOCO franchise model, store requirements, product categories, earning potential, ROI, licenses, and support offered to franchise partners.
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.
JSW Group and Skoda Volkswagen India have inked an MoU to develop a strategic joint venture to bolster Volkswagen's foothold in India. The alliance might increase local sourcing, manufacturing, product development and electric car localisation.
Kuku Technologies will hire 1,000 personnel to build its AI-powered content creation unit by the end of the financial year. The startup plans to leverage its AI Storytelling Stack to speed up micro-drama creation, reduce expenses by 30-50% and ramp up output for Indian and global markets.
Reliance Jio is gearing up to enter India’s satellite internet business and intends to launch its first test satellite in September 2027. Jio has applied for slots from the International Telecommunication Union (ITU) for satellite launches and has received the green signal from IN-SPACe.
Udaan has purchased Swiggy-owned LYNK in a share-swap deal worth INR 500 crore, bolstering its B2B retail distribution network in major Indian regions. An additional investment of INR 75 crore will provide Swiggy a 3.2% ownership in Udaan.
Swiggy has introduced a 24x7 food safety helpline and an in-app “Food Safety” channel to enable customers report any concerns about their orders. Customers can raise complaints, attach photographs and monitor cases using ticket numbers.
Hyundai Motor India aims to raise its women workforce to 20 per cent by 2030, boosting its diversity, equity and inclusion policy. Women today make up more than 8% of the company’s senior workforce of more than 4,000, while roughly 45% of its 2026 Management and Engineer Trainees were women.
According to the TRAI data, BSNL attracted 68,560 net wireless subscribers in Haryana in July 2026, outpacing Reliance Jio and Bharti Airtel in the addition of mobile subscribers. The state-owned telecom operator contributed over half of the total net additions of subscribers in Haryana.
Modern Bazaar halves store network as quick-commerce platforms transform India’s retail space. With a revenue of roughly INR 250 crore, the Delhi-NCR-based luxury grocery chain has down-sized its branches to around 14 and is now concentrating on the smaller Express stores.
Adani Defence & Aerospace has entered into a five-year arrangement with Indo-Russian Rifles Pvt Ltd for the supply of Made-in-India 7.62x39mm ammunition for the AK-203 assault rifles. The arrangement intends to boost India’s domestic military industry ecosystem.
President William Ruto has directed Tata Chemicals to cease operations in Kenya, intensifying a row over its Magadi soda ash company in Kajiado County. The company had been functioning in the region for decades but had not generated enough local economic value, said Ruto.
The Aditya Birla Group has forayed into the wires and cables business in India with an investment of INR 1,800 crore through its Ultravolt brand. The Gujarat-based facility will enable pan India distribution to over one lakh shops across 500 districts and 6,000 pin codes.
Tata Sons has cleared an investment of over Rs 10,000 crore in Air India, subject to significant criteria that call for thorough business justifications for future financial infusions. The cash comes as Air India is looking for fresh equity to fuel its turnaround.
Uber is exiting Nigeria and Uganda with immediate effect as part of a wider worldwide operational revamp led by CEO Dara Khosrowshahi. The ride-hailing company said it was reviewing operations and focused resources on areas with greater potential, such as driverless vehicles.
upGrad has finalised its acquisition of Unacademy for slightly over $200 million, down significantly from Unacademy’s highest valuation of $3.44 billion during the edtech bubble of the epidemic era. The acquisition comes after the Competition Commission of India greenlit the deal.
ChatGPT, Reddit and Roblox have been classed as “Very Large Online Platforms” by the European Union under the DSA, which places harsher safety, transparency and accountability rules on them. The designation refers to platforms with more than 45 million monthly active users in the EU.
Zomato has taken a zero-tolerance approach on imitation paneer and substitute dairy products, eliminating reported listings from the platform and urging eateries to verify ingredient labels. The action comes in the wake of increased scrutiny of fake paneer in India.
Meta’s new US teen safety standards have reignited India’s discussion about age verification, child protection and social media regulation. The settlement also requires stronger age detection technologies and sets default limits on screen usage.
Apple may raise India’s share of global iPhone manufacture to 30-35% from about 25% in the next five years, adding to the country’s importance in its global supply chain. Apple’s suppliers and contract manufacturers are likely to be backed up by government incentives and long-term tax benefits.
Nvidia is buying open-source AI platform Hugging Face for $12.9 billion, expanding its influence in the ecosystem of AI tools and models. Hugging Face allows developers to share, experiment and cooperate on AI models and tools.
Meta has agreed to a historic $18 billion settlement with US states on charges that Facebook and Instagram fuelled underage social media addiction. The deal includes improved child-safety measures, such as default time limitations and the ability to turn off features like “like” counts.
AESL has bagged a INR 4,700 crore transmission project in Maharashtra to carry 4,500 MW of renewable power from Karnataka to key consumption centers. The Satara project would enhance grid connectivity, enable pumped storage projects and accelerate India’s sustainable energy transformation.
Google launches Gemini Enterprise for Legal, AI-powered automation tools, specialist plug-ins and AI agents for law firms and legal departments. It’s a platform built to make legal workflows — contract review and negotiation, data discovery and more.
Deloitte has agreed to pay $21.5 million to settle a US government probe into its diversity, equity and inclusion (DEI) practices. Deloitte took race and sex into account when making recruiting and promotion decisions and had internal targets for diversity, the US Department of Justice said.
Air India’s losses are mounting as the airline continues its recovery and is said to be seeking about $1.5 billion in fresh equity capital from owners Tata Sons and Singapore Airlines. Air India and Air India Express together had a loss of $2.33 billion for the fiscal year ended March.
Honasa Consumer has called off its proposed acquisition of 58% share in nutraceuticals firm Fluence Pharma for INR 135 crore as some critical closing criteria were not completed. Mamaearth’s parent firm is dedicated to growing its nutraceuticals business both organically and inorganically.
The Bombay HC will again take up Volkswagen’s $1.4-billion customs tax challenge, after an earlier bench had freed the matter following a delay of 18 months in pronouncing its verdict. The disagreement relates to Skoda Auto Volkswagen India’s import of automobile parts for its Aurangabad facility.
Healthify and Berry Street to Team Up to Scale AI-Powered Metabolic Health Care in India and US. The combined business will merge Healthify’s AI nutrition platform, Ria assistant and meal tracking tech with Berry Street’s virtual nutrition services, clinician network and US insurance infrastructure.
Infineon Technologies will acquire Bengaluru-based C2i Semiconductors to boost its AI data center power management and semiconductor R&D capabilities in India. Formed by former Texas Instruments engineers, C2i makes smart power stage chips for high-performance AI servers.
TCS has agreed to acquire Porsche subsidiary MHP Management- und IT-Beratung GmbH for €320 million ($373 million) as it seeks to extend its automotive and digital transformation capabilities. The arrangement encompasses a five-year strategic partnership valued at €1.25 billion.
Godrej Industries Group has inked an MoU with the Haryana government to invest INR 20,000 crore in the state, reinforcing its presence across real estate, infrastructure and financial services. The investment is estimated to produce close to 40,000 jobs.
Urban Company has filed a complaint of defamation and disparagement against Kent RO Systems in the Delhi HC for allegedly using deceptive marketing targeting its Native water purifiers.
Deepinder Goyal’s Temple wearable is expected to be commercially launched by the end of 2026. The business claims their product to be the smallest wearable in the world by volume. The device is designed to measure brain function, tracking cerebral blood flow and other data.
TCS has refuted suggestions that it is deploying monitoring software to track staff actions on work laptops, calling the allegations "baseless and inaccurate." The IT firm stated its digital monitoring solutions are intended to improve network management, security, general performance etc.
Ola Electric has offered an introductory deal on its Shakti Gen2 home inverter. The energy storage system that is powered by a lithium-ion battery is designed to run appliances during power interruptions. The inverter comes in 3 kW and 6 kW capacities and is being given at limited period discounts.
TCS finally responded to reports it's monitoring employee laptops, denying individual tracking. Here's the exact statement, and the questions it still doesn't answer.
Hindustan Power has achieved financial closure for its 435 MWp/300 MW solar power project in Lalitpur district of UP with IREDA sanctioning INR 1,135 crore in loan financing. The project has signed a long-term PPA with UPPCL and is projected to contribute to the renewable energy capacity of UP.
Urban Company has grown its footprint in the Middle East by extending its e-commerce relationship with Unicommerce to the UAE and Saudi Arabia. “Urban Company will use Unicommerce’s Uniware platform to manage inventory, fulfilment and replenishment of service kits and consumables in real-time.
Escorts to set up new manufacturing plant in Uttar Pradesh’s YEIDA industrial region with investment of over INR 2,000 crore The 154-acre complex will manufacture tractors, agricultural equipment, construction gear and engines for domestic and global markets.