Author: Sreelatha M

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Corporate

Mylan exits Biocon after selling entire stake

Mylan has exited Biocon after selling its entire stake in the Bengaluru-based biotechnology company, marking the end of a long association between the two firms. The transaction involved Mylan’s 5.64% holding in Biocon and was completed through a block deal worth around ₹3,679 crore.

The stake sale attracted strong interest from several major institutional investors, including mutual funds, foreign portfolio investors and global financial institutions. Among the buyers were names such as Morgan Stanley, ICICI Prudential Mutual Fund, Goldman Sachs and Citigroup, which participated in acquiring the shares from Mylan.

Following the deal, Biocon’s stock gained investor attention, with shares rising nearly 6% as markets reacted to the ownership change. Analysts said the transaction improved liquidity in the stock and brought in a wider group of institutional shareholders.

Mylan, a global pharmaceutical company, had been associated with Biocon for several years, particularly through its partnership in biosimilars. The collaboration helped Biocon expand its presence in global markets, especially in the areas of insulin, oncology and other complex biologic medicines.

The stake sale comes as Biocon continues to focus on expanding its global biosimilars business and strengthening its position in regulated markets. The company has been investing in research, manufacturing capabilities and international partnerships to grow its presence in the global pharmaceutical sector.

Also Read: DeepSeek eyes fresh funding after $7 bn

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Leaders

Pankaj Pawar takes charge as Jio Platforms CEO

Jio Platforms has appointed Pankaj Pawar as its new Chief Executive Officer (CEO), marking a key leadership change as the Reliance Industries digital arm moves closer to its planned initial public offering (IPO).

Pawar, who is already the Managing Director of Reliance Jio Infocomm, will take over the top role at Jio Platforms. He replaces Kiran Thomas, who stepped down from the CEO position as the company prepares for its next phase of growth.

The appointment comes at an important time for Jio Platforms, which is expected to launch one of India’s biggest IPOs. The company is reportedly aiming to raise around $4 billion through the public offering, which could unlock significant value for Reliance’s telecom and digital businesses.

Pawar is a long-time Reliance executive and has played a key role in managing Jio’s telecom operations. His appointment brings the leadership of Jio Platforms and Reliance Jio Infocomm closer together, as the company focuses on expanding its digital ecosystem.

Over the years, Jio Platforms has grown beyond telecom services, building a wide range of digital offerings across entertainment, cloud services, artificial intelligence, financial technology and consumer platforms. The upcoming IPO is expected to give investors an opportunity to participate in one of India’s largest digital businesses.

The leadership transition also signals Jio Platforms’ focus on strengthening its corporate structure before entering public markets. Investors will closely watch the company’s IPO plans, valuation expectations and future growth strategy as it prepares for the listing.

With Pawar now at the helm, Jio Platforms enters a crucial period where it must balance rapid expansion, technology investments and shareholder expectations. The company’s market debut could become a major milestone for India’s technology and telecom sectors.

Also Read: DeepSeek eyes fresh funding after $7 bn

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Corporate

Udaan secures $160 mn ahead of planned IPO

Business-to-business (B2B) e-commerce platform Udaan has raised $160 million in a structured financing round as the Bengaluru-based company strengthens its financial position ahead of its planned initial public offering (IPO).

The latest funding includes investments from existing investors and debt partners, reflecting continued confidence in Udaan’s efforts to improve profitability while expanding its business. The company said the fresh capital will be used to reinforce its balance sheet, support long-term growth and accelerate preparations for a public listing.

Along with the financing, Udaan announced that it has completed the acquisition of TrustRoot, a fintech platform focused on supply chain financing. The acquisition is expected to enhance Udaan’s embedded financial services by offering improved credit and working capital solutions to retailers, wholesalers and small businesses using its platform.

The company believes integrating TrustRoot’s technology and expertise will strengthen its financial ecosystem and help improve access to credit for merchants, an important requirement for India’s rapidly growing B2B commerce market.

Founded in 2016, Udaan connects manufacturers, wholesalers, retailers and traders through its digital marketplace, enabling businesses to source products across categories including grocery, electronics, lifestyle, pharmaceuticals and general merchandise. Over the past few years, the company has shifted its focus from aggressive expansion to improving operational efficiency and reducing losses.

The fresh funding comes as Udaan continues to report progress in lowering cash burn, improving contribution margins and building a more sustainable business model. These measures are seen as key steps before entering the capital markets.

India’s startup ecosystem has witnessed renewed investor interest in companies demonstrating a clear path to profitability, and Udaan’s latest financing reflects that trend. The company is expected to use the additional capital to strengthen technology, expand financial services and improve customer experience while maintaining disciplined growth.

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Corporate

Tata Capital buys 88.6% stake in Yogloans

Tata Capital is set to enter India’s fast-growing gold loan market by acquiring an 88.6% stake in Kerala-based non-banking finance company (NBFC) Yogloans. The acquisition marks a significant step in Tata Capital’s strategy to diversify its lending portfolio and strengthen its presence in retail finance.

The transaction, subject to regulatory approvals, will give Tata Capital access to Yogloans’ established gold loan business, branch network and customer base. Founded in 2008, Yogloans specialises in loans against gold jewellery and has built a strong presence, particularly in southern India.

Gold loans have emerged as one of the fastest-growing segments in India’s lending market, driven by rising demand for quick, secured credit from households and small businesses. By acquiring Yogloans instead of building a business from scratch, Tata Capital aims to accelerate its expansion in this high-growth segment.

Industry experts say the deal will enable Tata Capital to leverage its financial strength and digital capabilities while benefiting from Yogloans’ expertise in gold-backed lending. The acquisition is also expected to enhance Tata Capital’s product offerings and strengthen its competitive position against established players in the sector.

The move comes at a time when demand for secured loans continues to rise amid favourable gold prices and increasing financial inclusion. Gold loans remain popular because they offer quick disbursal, minimal documentation and relatively lower borrowing costs.

For Yogloans, becoming part of the Tata Group is expected to provide access to capital, technology and a wider customer network, supporting its future growth.

Also Read: Satya Nadella warns of AI information paradox

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Leaders

Satya Nadella warns of AI information paradox

Microsoft CEO Satya Nadella has cautioned businesses about what he calls the “reverse information paradox”, warning that the rapid rise of artificial intelligence could leave organisations overwhelmed with data while making it harder to access meaningful knowledge.

Speaking about the changing role of AI in the workplace, Nadella said companies today generate enormous volumes of information through emails, documents, meetings, chats and digital tools. However, instead of making employees better informed, this flood of data can make it more difficult to find the right information when it is needed.

According to Nadella, AI has the potential to solve this problem, but only if organisations rethink how they manage and organise their knowledge. He stressed that businesses should focus on creating structured, high-quality information that AI systems can easily understand and retrieve, rather than simply accumulating more data.

The Microsoft chief said many companies risk investing heavily in AI without first addressing the quality and accessibility of their internal information. Poorly organised data, he noted, can limit the effectiveness of AI tools and reduce productivity instead of improving it.

Nadella encouraged organisations to redesign workflows so that AI can help employees quickly discover relevant insights, automate routine tasks and support better decision-making. He said businesses that successfully integrate AI with well-managed knowledge systems are likely to gain a significant competitive advantage.

His remarks come as companies across the world accelerate investments in generative AI, using the technology to improve customer service, software development, data analysis and workplace productivity. While AI adoption is growing rapidly, experts say many organisations still struggle with fragmented and unstructured information spread across multiple platforms.

Nadella’s warning highlights that the success of AI depends not only on advanced technology but also on the quality of the information it uses. Businesses that fail to organise their data effectively may find that more information does not always translate into better decisions.

Also Read: Government releases digital threat report

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Corporate

HCLTech Q1 profit jumps 20% to ₹4,624 cr

HCLTech reported a 20% year-on-year rise in consolidated net profit for the first quarter of FY27, with earnings increasing to ₹4,624 crore, reflecting resilient demand for its technology services despite continued uncertainty in global markets.

The company’s revenue also registered healthy growth during the April-June quarter, supported by steady client spending across digital transformation, engineering, cloud and artificial intelligence (AI)-led services. HCLTech said strong execution and disciplined cost management helped improve profitability during the quarter.

The IT major continued to secure new client deals, with management highlighting a healthy pipeline of large transformation projects across industries. Demand remained particularly strong for AI-driven solutions, cloud migration and engineering services, areas that have become priorities for businesses looking to modernise operations.

Commenting on the results, Chief Executive Officer C. Vijayakumar said the company delivered a solid start to the financial year despite macroeconomic challenges. He noted that clients remain focused on long-term technology investments aimed at improving efficiency and accelerating digital adoption.

HCLTech maintained its revenue growth guidance for the full financial year, expressing confidence that continued investments in AI, software and digital services would support future growth. The company also reiterated its operating margin guidance, signalling expectations of stable financial performance over the coming quarters.

The results come at a time when global IT companies continue to navigate cautious enterprise spending amid economic uncertainty. However, spending on artificial intelligence, automation and cloud technologies has remained relatively resilient, benefiting companies with strong digital capabilities.

Market participants welcomed the earnings, viewing the profit growth as a sign of HCLTech’s operational strength and diversified business model. Analysts said the company’s healthy deal wins and improving margins position it well for sustained growth even as clients remain selective about discretionary technology spending.

With businesses increasingly adopting AI-powered solutions and digital transformation initiatives, HCLTech expects demand for advanced technology services to remain strong. The company believes its broad portfolio, global client base and focus on innovation will help it maintain momentum through the rest of the financial year.

Also Read: SK Hynix shares slide 8% after Nasdaq debut

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Corporate

SK Hynix shares slide 8% after Nasdaq debut

Shares of South Korean memory chip maker SK Hynix fell sharply a day after their blockbuster Nasdaq debut, as investors locked in profits following a strong first day of trading.

The company’s American Depositary Receipts (ADRs) dropped by more than 9% in US trading, while SK Hynix shares in South Korea also declined, reflecting profit-booking after the stock’s impressive market debut. Despite the pullback, analysts said the decline was largely driven by short-term trading activity rather than concerns about the company’s fundamentals.

SK Hynix made a strong debut on the Nasdaq, attracting significant investor interest amid growing optimism about the artificial intelligence (AIa) boom. The company is one of the world’s leading producers of high-bandwidth memory (HBM) chips, a critical component used in AI servers and advanced graphics processors.

The successful listing was seen as another sign of strong global demand for semiconductor companies linked to AI infrastructure. Investors have been increasingly bullish on firms supplying memory chips, as demand continues to rise from technology giants investing heavily in AI data centres.

The company continues to benefit from robust demand for AI memory chips and expects this trend to support future growth. SK Hynix remains well positioned to capitalise on expanding investments in artificial intelligence, cloud computing and high-performance computing.

While the sharp fall surprised some investors, many viewed it as a temporary correction after the initial surge in enthusiasm. The broader outlook for the semiconductor industry remains positive, with AI continuing to drive demand for advanced memory products.

Also Read: ITC Infotech leads race for Happiest Minds stake acquisition

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Corporate

Aditya Birla Group to buy Sprng Energy for $1.8 bn

The Aditya Birla Group has agreed to acquire Shell-backed Sprng Energy Group in a $1.8-billion (around ₹15,000 crore) deal, marking one of the biggest renewable energy transactions in India’s clean power sector.

The acquisition will be carried out through Aditya Birla Renewables, the group’s clean energy platform. Once completed, the deal will significantly expand its renewable energy portfolio and strengthen its position in India’s fast-growing green power market.

Sprng Energy develops and operates large-scale solar and wind power projects across several Indian states. Its portfolio includes operational assets as well as projects under construction, supplying clean electricity to utilities and commercial customers. The acquisition is expected to add substantial renewable generation capacity to Aditya Birla Renewables, helping meet rising demand for green energy.

Shell said the sale is part of its strategy to optimise its global power portfolio while continuing to focus on areas where it has a competitive advantage. The company noted that the transaction aligns with its broader objective of creating value through disciplined capital allocation.

For the Aditya Birla Group, the acquisition supports its long-term commitment to sustainability and the energy transition. The company has been steadily increasing investments in renewable energy to meet its own decarbonisation goals while expanding its clean energy business.

 With the country targeting 500 GW of non-fossil fuel power capacity by 2030, demand for solar and wind assets is expected to remain strong.

The transaction is subject to customary regulatory approvals and closing conditions. Once completed, it will rank among the largest acquisitions in India’s renewable energy industry and further consolidate the sector.

The deal also highlights the increasing pace of consolidation in clean energy, as companies seek to scale up quickly through acquisitions rather than building projects from scratch. For both companies, the agreement represents a strategic step aligned with their evolving business priorities in the global energy transition.

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Beyond

Centre nears Fairfax IDBI deal

The Centre is close to accepting a revised financial offer from Canada’s Fairfax Financial Holdings for acquiring a controlling stake in IDBI Bank, bringing one of India’s longest-running bank privatisation plans closer to completion.

People familiar with the discussions said Fairfax has marginally increased its per-share offer after its earlier bid fell short of the government’s undisclosed reserve price. The improved proposal has emerged as the frontrunner in the bidding process and is now under active consideration.

The government and Life Insurance Corporation of India (LIC) together are selling a 60.7 per cent stake in IDBI Bank as part of the strategic disinvestment programme launched in 2022. While the Centre owns 45.48 per cent of the lender, LIC holds 49.24 per cent. The transaction would mark the largest government-backed sale of a majority stake in an Indian bank in recent years.

Apart from Fairfax, Dubai-based Emirates NBD has also submitted a revised bid. Government sources said a high-level panel has already reviewed the fresh offers, with the evaluation process now in its final stages. Officials expect the stake sale to be completed within the next month, subject to approvals from the Union Cabinet and the Reserve Bank of India.

The privatisation exercise had briefly stalled earlier this year after the initial financial bids failed to meet the government’s valuation expectations. Rather than abandoning the process, authorities invited revised offers, prompting Fairfax to improve its bid. The Canadian insurer had also infused capital into India ahead of the potential acquisition, signalling its continued interest in the deal.

For the government, successfully concluding the IDBI Bank sale would represent a significant milestone in its disinvestment agenda after several years of delays. For Fairfax, founded by Indian-born billionaire Prem Watsa, the acquisition would provide a major foothold in India’s fast-growing banking sector and potentially become one of the country’s largest foreign investments in banking. Investors welcomed the latest developments, with IDBI Bank shares gaining more than three per cent in Tuesday’s trade following reports of progress in the sale process.

Also Read: Gold hits ₹1,41,550, silver climbs to ₹2,18,760

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Corporate

TCS restructures business for AI era

Tata Consultancy Services (TCS) has announced a major leadership overhaul as it sharpens its focus on artificial intelligence (AI) and digital transformation. The country’s largest IT services company has created five new global business units, aiming to help clients adopt AI faster while strengthening its own growth strategy.

The restructuring comes as businesses worldwide increase investments in AI-powered technologies and automation. TCS said the new structure is designed to make the organisation more agile, improve decision-making and deliver specialised solutions to customers across industries.

Under the new model, the company has reorganised its operations into five customer-focused business units, each led by senior executives with greater responsibility for growth, innovation and client relationships. The move is intended to simplify operations and enable faster execution in an increasingly competitive technology landscape.

TCS said AI is transforming the way enterprises operate, creating demand for new digital services across sectors such as banking, healthcare, manufacturing, retail and communications. By aligning its leadership around dedicated business units, the company hopes to respond more quickly to changing customer needs and emerging technology trends.

The company also believes the new structure will encourage closer collaboration between teams, improve service delivery and support the development of AI-led business solutions. TCS has been investing heavily in generative AI, cloud computing and automation, viewing these technologies as key drivers of future growth.

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