Corporate announcements, quarterly results, leadership changes, and major company updates.
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.
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Inox Clean Energy completes INR 6,000-crore acquisition of Vena Energy India, a renewable energy platform supported by GIP and BlackRock. Inox Clean’s portfolio will include 2.7 GW of solar and wind projects and 1.3 GWh of battery energy storage capacity with the deal.
Google intends to move production of its Pixel smartphone, smartwatch and wireless earbuds away from China to Vietnam and India by 2027. The move is part of Google’s drive to diversify its supply chain and lessen reliance on Chinese manufacturing amid US-China trade concerns.
Colgate-Palmolive India has handed over Palmolive’s D2C and e-commerce business to Bombay Shaving Company in a bid to speed up the digital expansion of the personal care brand. The agreement leverages Colgate's strengths in product, supply chain and marketing, with BSC's digital-first know-how.
ByteDance has struck an AI copyright agreement with the MPA in Hollywood to boost intellectual property safeguards for its Seedance video and Seedream image-generation models. The agreement comes after a cease-and-desist letter in Feb & complaints from Disney and other studios.
Ola Electric has unveiled a complete energy storage portfolio for home, commercial and utility scale applications. Beside electric vehicles, the business is working on new battery energy storage devices, Ola Shakti 2, Shakti Rack and Mahashakti, to broaden the company’s energy offerings.
Amber Enterprises will start commercial smartphone manufacture in India for Oppo, OnePlus and Realme from Q1 FY28 after trial production in Q4 FY27. Amber has partnered with Oppo Mobiles India and plans to manufacture roughly 8 million smartphones in the first year.
IBM and Open AI have established a strategic alliance to accelerate enterprise AI deployment across sectors like finance, retail, government and telecoms. IBM will create an OpenAI practice inside IBM Consulting and train thousands of consultants on OpenAI tools OpenAI models and products.
Vertex Group has said it will hire 2,000 employes in Bengaluru and Delhi-NCR in August 2026, which will be one of its biggest ever monthly hiring campaigns. The hiring push coincides with Vertex Group’s 10th anniversary and is part of its expansion strategy.
L&T’s data center division Vyoma.AI secures Rs 10,000-15,000 crore order from Together AI to establish India's largest Nvidia B300 AI facility in Chennai It will be used for large-scale AI training, fine-tuning and inference with space for up to 10,000 Nvidia B300 GPUs.
Bank of America would spend up to INR 18,268 crore ($1.9 billion) to buy a share of up to 49.9% in NBFC Jio Credit, a wholly owned subsidiary of Jio Financial Services. The investment would initially provide Bank of America with a 26.5% ownership.
Larsen & Toubro (L&T) aims to manufacture rare earth magnets in India as the government looks to minimise dependence on China, the world’s largest producer. L&T is likely to seek a INR 72.8 billion incentive package and perhaps join hands with a technology specialist.
The Delhi High Court has stayed an order of the FSSAI directing Dabur India to stop selling food products with “100%” claims, including “100% Pure” and “100% Natural.” The court observed that a ban order was issued against Dabur without giving it an opportunity to be heard.
The US has placed a 15% tariff and minimum import prices on polysilicon in a move aimed at China’s domination of key solar and semiconductor supply chains. The move by President Donald Trump is aimed at boosting domestic manufacturing, energy security and advanced computing infrastructure.
A US court has fined Meta $567m for allegedly harming the mental health of minors on its platforms and hiding known hazards to safety. Meta was determined by a jury to have wilfully contributed to the psychological injury of kids, leading to the New Mexico decision.
Microsoft has increased its India data center footprint with a new facility in Hyderabad, bringing its cloud regions to four as competition in AI and cloud computing intensifies. The corporation is eyeing India’s enormous digital market.
Microsoft is pushing developers to utilise the default GPT-5.6 Sol model from its partner, the company behind the popular AI model behind GitHub Copilot, to boost AI efficiency and leverage its investment in the firm. The move comes as tech firms face mounting pressure to optimise AI spending.
The Supreme Court has asked JioStar India Pvt Ltd to approach the Delhi High Court in its challenge to the Telecom Regulatory Authority of India (TRAI) rate framework for TV channels. JioStar challenges TRAI’s tariff regulations, price restrictions.
Thousands of WhatsApp users in India and numerous other countries complained that their accounts were unexpectedly "under review", momentarily blocking crucial chat functionality. Meta says it frequently evaluates and removes accounts to avoid abuse.
Google is said to have decreased the value of its long-standing outsourcing contract with HCLTech by $50 million a year as it increases automation driven by AI and consolidates contractors. The move would have minor financial impact on HCLTech.
Tata Trusts Chairman Noel Tata has promised a fresh focus on healthcare and education with plans to set up 40-50 non-profit hospitals and 17 cancer care facilities in conjunction with the Assam government. The Trusts will also partner with IIM Bangalore on an undergraduate curriculum.
Haldiram’s has temporarily closed its freshly opened location in Leicester Square, London, just weeks after its viral UK debut, due to scheduled UK Power Networks (UKPN) electrical and gas improvement works. The restaurant has drawn enormous crowd.
The CBI has registered a FIR against Anil Ambani, Reliance Capital Limited and others after the EPFO complained of loss of INR 1,816.22 crore due to default on secured non-convertible debentures (NCDs). The probe relates to the charges of criminal conspiracy, cheating and more.
This comes just five months after the 50,000 orders milestone, and is a significant achievement for InstaHelp that crossed the 100,000 daily orders milestone. This quick development underlines the growing need for on-demand cleaning service.
Amazon is facing a potential class action lawsuit in the US over charges it greenwashes seafood items sold under the likes of Bumble Bee, StarKist, Chicken of the Sea and 365 by Whole Foods Market. Amazon misled consumers with terms like “sustainable,” “responsibly sourced” and more
Bajaj Finserv has got the board approval to enter into the reinsurance industry through a wholly owned subsidiary, subject to the IRDAI and other regulatory approvals. The deal boosts its insurance books and puts the company in India's growing reinsurance sector.
The Delhi High Court has summoned Blinkit after Zed Entertainment Enterprises Ltd accused it of copyright violation for its promotional video on Instagram. The broadcaster has claimed that Blinkit has utilised its copyrighted material without permission for commercial purposes.
Mahindra & Mahindra has approved the sale of its Truck and Bus Division (MTBD) to listed subsidiary SML Mahindra for INR 525 crore as part of a strategic corporate reorganisation. The deal, expected to completion by Jan. 31, 2027.
The US has prohibited the import of new Chinese-made humanoid robots, robot dogs and power inverters over cybersecurity and national security concerns. The FCC put the goods on its list of prohibited equipment, citing dangers to critical infrastructure, data centers and energy systems.
Restaurant operators in Bengaluru have planned a boycott of Swiggy from August 15, citing that hefty commissions, sharp discounts and unfair deductions are affecting their companies. The associations have asked open pricing, fair contracts, dedicated relationship managers and more.
French labour authority DRIEETS Ile-de-France has penalised Infosys to the tune of €175,000 (approximately INR 2 crore) for non-compliance with French labour rules concerning the maintenance of employee working time records.
Tata Power to start construction of 10 GW solar wafer & ingot manufacturing factory in Odisha in October, eyes commercial ops by January 2028 The project also adds to India’s semiconductor and clean energy ecosystem with the help of governmental incentives.
Health-tech startup Temple, founded by Deepinder Goyal, is looking to raise fresh funding at a $500 million valuation as it gears ready to launch its first AI-powered wearable at a price of 80,000. The forehead-mounted device records advanced physiological data with a patented “entropy”.
Johnson & Johnson has agreed to a $5.5 billion settlement that will address over 76,000 cases claiming that its talc-based products caused ovarian cancer, a major step toward concluding a decade-long court struggle. The deal covers most outstanding claims, with payments starting in 2027.
NVIDIA to spend $1 billion in NAVER to grow South Korea’s AI infrastructure and boost the capacity of the GAK Sejong AI data centre to 200 MW by 2028. The collaboration will leverage NVIDIA’s high-end Blackwell and Vera Rubin GPU platforms.
HCLTech has signed an MoU with Odisha Government and Sarvam for setting up of Global Technology Center and AI Data Center at Odisha Sovereign AI Park in Bhubaneswar. The initiative is projected to produce 5,000 jobs and bolster India’s sovereign AI ecosystem and is likely to be operational by 2028.
The European Union has fined Google €890 million ($1 billion) under the Digital Markets Act (DMA) for allegedly giving preferential treatment to its own services in search results and restricting app developers on the Google Play Store.
Temasek is looking at investing in the Indian Premier League (IPL), a sign of growing global interest in one of the world's most lucrative sporting leagues. Singapore's sovereign wealth fund is joining private equity firms and wealthy investors in chasing Indian Premier League clubs.
JPMorgan Chase is looking to hire 1,000 IT specialists for its India worldwide Capability Centre (GCC) in areas like AI, cloud architecture, cybersecurity and data engineering, even as it cuts jobs in some worldwide operations driven by AI.
AMD is set to invest up to $5 billion in Anthropic, part of a strategic partnership in AI infrastructure. Anthropic will install 2 GW of AMD Instinct MI450 GPUs in AMD Helios rack-scale systems to increase compute capacity for their Claude AI models.
Paras Defence to set up a greenfield OSAT (Outsourced Semiconductor Assembly and Test) facility in Indore-Ujjain corridor of Madhya Pradesh with an investment of INR 6,200 crore through its subsidiary Paras Semiconductors.
Singaporean investment firm Temasek aims to boost its investments in India, choosing AI, healthcare, financial services and consumer firms as its key long-term growth areas.
IKEA India is strengthening its footprint in Delhi-NCR with a new 30,000 sq. ft. city shop at Saket set to open on July 30, as it aims to have 30 stores in India by 2030. The expansion strengthens IKEA’s retail strategy in one of its fast growing markets
Meesho has refuted InGovern’s GST allegations saying the proxy advisory firm’s representation is not a finding of SEBI or tax authorities. The e-commerce company has not received any communication from the authority.
Anant Raj Ltd. has approved demerger of the Data Centre and Cloud Services business of the company into Ashok Cloud Pvt. Ltd. to create a new digital infrastructure company and continue its real estate and infrastructure business.
Wipro Consumer Care & Lighting has purchased Philippines-based S Brands Consumer Care Inc., expanding its presence in Southeast Asia and adding brands such as KERATINplus, AlcoPlus, DeoPlus, Empress and Fiona Cologne to its personal care portfolio.
TAFE Motors and Tractors Ltd. (TMTL) today launched the first manufacturing collaboration between TAFE and Germany's DEUTZ AG with the inauguration of a fresh DEUTZ engine production facility at Alwar, Rajasthan.
Accenture has rolled out a new 50:50 compensation structure where 50% of an employee’s authorised salary increase will be added to base pay and the other 50% will be paid as a one-time cash incentive in June.
Trent has also announced plans to expand its retail business strategy in India by opening 100 new stores annually as part of its Westside expansion. The Tata Group store wants to grow into the Northeast and strengthen its presence in key cities.
Uber to buy Delivery Hero in €13.8 billion agreement to dramatically expand worldwide mobility and food delivery company. The acquisition will extend Uber’s footprint in 99 markets, boost its Uber Eats platform
Trump Media & Technology Group has created a paid data feed to provide licensed API access to Truth Social posts, including Trump updates, to Wall Street businesses and institutional clients.
OnePlus is apparently going to leave the US, Europe and India as parent firm Oppo is restructuring its worldwide smartphone business amid declining sales and mounting market challenges. The reports say the brand would cease operations in major international markets.
Amazon has chosen Telangana as the site for its largest data centre investment in India, with a pledge of Rs 60,000 crore to develop a hyperscale data centre in Hyderabad’s Bharat Future City. The project forms part of Amazon Web Services’ greater growth in India.
Big publishers like Hachette, Cengage, Elsevier and author Scott Turow have filed a fresh copyright case against Google, accusing the company of using millions of copyrighted books without authorisation to train its Gemini AI models.