Mega cap
Marico's lead independent director retires, board fills gaps
Milind Barve cites persistent health issues for retirement effective August 1, 2026. Succession is immediate and orderly with Girish Paranjpe and Apurva Purohit taking over committee chairs.
Power Grid's CFO heads into retirement on schedule
A fully anticipated superannuation at a Maharatna PSU. No surprises, no disruption to operations.
CARE upgrades Jindal Steel to AA+, stable outlook
One-notch upgrade from AA reflects improved credit profile and deleveraging. Short-term rating reaffirmed at A1+. Impact on borrowing costs is modest, and the move was widely anticipated.
Tata Motors PV to host Helios Capital in virtual meet on July 3
A group meeting with analysts and institutional investors, including Helios Capital Management, has been scheduled. The agenda is undisclosed, but the presence of a well-known investor adds weight.
Kotak Mahindra Bank buys Deutsche Bank's India retail for ₹281.7 cr
The deal adds 150,000 customers, ₹29,000 cr in loans and ₹16,000 cr in deposits, but is modest relative to Kotak's ₹4,06,820 cr market cap.
Coal India bets ₹1,900 cr on clean coal tech by 2030
The state-owned miner's R&D plan is modest relative to its market cap but signals a shift toward sustainability through academic partnerships and global tie-ups.
Adani Ports sells 49% of Vizhinjam to MSC's TiL for $1.397B
India's first deep-draft mega transshipment port gets a strategic partner. At $2.85 billion enterprise value, it's the largest foreign private investment in Indian port infrastructure.
HDFC Bank appoints new CFO, general counsel from Axis Bank, KKR
Puneet Sharma, ex-Axis Bank CFO, to take over from Sep 2026; Jigar Shah, former KKR India legal head, to join as general counsel in a smooth leadership transition.
HDFC Bank names Rajiv Kumar as chairman, subject to RBI nod
The former finance secretary and ex-CEC will take over from June 30, 2026, pending approvals. Shareholders vote on Aug 5.
Axis Bank CFO Puneet Sharma resigns, says core mandate complete
After six-plus years as finance chief, Sharma will exit by August 31. Board also approves reappointment of two directors.
PFC board approves REC merger at 88:100 swap
Power Finance Corporation will absorb REC, creating a combined loan book of over ₹11 lakh crore. The swap ratio of 88 PFC shares per 100 REC shares is now set, pending approvals.
HCLTech teams up with Google Cloud, ServiceNow on AI agents
The expanded collaboration builds on HCLTech's Gemini unit, but no revenue impact or order value was disclosed, routine for a $14.7B firm.
LIC CFO Sunil Agrawal resigns, effective July 14
The country's largest insurer loses its Chief Financial Officer to 'better prospects', raising questions on succession planning and financial oversight.
HCLTech-Nokia AI network deal: another no-number partnership
Four new rApps on Nokia's marketplace, but no disclosed revenue or contract value. For a $14.7B firm, this is portfolio-building, not earnings-moving.
HCLTech lands Neste as client; no deal value disclosed
World's top sustainable fuel producer picks HCL for IT consolidation. For a ₹3 lakh-cr firm, it's a branding win, not a revenue catalyst.
Adani Enterprises: record ₹1.5 lakh crore capex, nuclear entry
At the annual meeting, Gautam Adani announced 30% of India's private sector capex, along with forays into nuclear power and aircraft manufacturing with Leonardo and Embraer.
Govt to sell 2% IRFC stake via OFS at ₹91 floor
The June 24-25 sale targets the mandatory 25% public holding. No discount for retail, Goldman Sachs sole broker.
Infosys guides low, but AI hits $1B run rate
FY26 revenue rose 3.1% to $20.2B, large deals $14.9B. FY27 outlook: 1.5-3.5% growth, 20-22% margin. Shareholders' bonus and stock questions went unanswered.
Bajaj Auto hit by ransomware, says it contained the attack
The two-wheeler major suffered a cyber attack on 23 June 2026 but reports no operational disruption or data loss; CERT-In notified.
Tata Power gets 3-month extension for Mundra plant under Section 11
Ministry of Power extends directions to Sept 30, 2026, keeping plant running while SPPA talks continue.
PFC raises US$300M via 5.32% notes due 2031
The state-run lender priced the bonds under its US$8B MTN programme; proceeds will follow RBI borrowing guidelines.
HCLTech joins TM Forum AI framework, no revenue disclosed
HCLTech, along with Circles and Greyskies, will co-develop an AI-powered multi-agent framework for autonomous network operations. Partners include Circles.Life, KDDI, Orange, TELUS. No financial terms.
Canara Bank's NIM slips 22 bps; FY27 guidance pegs mild recovery
Profit rose 12.69% to ₹19,187 crore but NII was flat as deposit costs squeezed margins. Management guides for advances growth of 11-12% and NIM of 2.52-2.60% in FY27.
Tata Motors PV targets ₹1,40,000 cr revenue by FY31, more than double FY26
In its first standalone investor day, the demerged PV business laid out plans for 20% market share, 30% EV mix, and a 15-nameplate portfolio.
Tata Motors targets 40% market share, teens EBITDA margin by FY28
At its first investor day post-demerger, the CV pure-play laid out a five-year roadmap including 7-9% FCF margin and 30-35% ROCE after IVECO, with digital business housed under new AIEQ Mobility entity.