Category: Corporate

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Corporate

Mahindra to invest ₹15,000 cr in Maharashtra plant

Mahindra & Mahindra (M&M) is set to invest ₹15,000 crore to establish India’s largest integrated automobile and tractor manufacturing facility in Nagpur, Maharashtra. The announcement came at the Advantage Vidarbha investment summit, underlining the region’s growing importance as a hub for industrial development.

The new facility will span 1,500 acres, complemented by a 150‑acre supplier park in Chhatrapati Sambhajinagar (Aurangabad). The park will supply parts to the Nagpur plant and other Mahindra factories in Chakan and Nashik, boosting local supply chains and production efficiency.

Production at the Nagpur plant is expected to begin in 2028. Once operational, it will have the capacity to manufacture more than 5 lakh vehicles and 1 lakh tractors every year, making it the largest such integrated plant in the country.

The plant will be equipped to handle internal combustion engines, electric vehicles, and future mobility technologies, supporting Mahindra’s NU_IQ platform and other next-generation vehicle architectures.

In addition, Mahindra is acquiring over 2,000 acres across three locations in Maharashtra, including land in the Igatpuri-Nashik region, to expand engine production and other advanced manufacturing capabilities.

Officials highlight that the Nagpur location offers strong logistical advantages, with access to the Samruddhi Expressway and major rail links, facilitating the movement of vehicles and components across India and overseas markets.

The project is expected to generate substantial employment opportunities and contribute to the economic development of Vidarbha and nearby areas. Maharashtra’s government has welcomed the investment, describing it as a significant boost to the state’s industrial ecosystem.

This ₹15,000 crore investment is a major step in Mahindra’s long-term manufacturing strategy, reinforcing its commitment to India’s “Make in India for the World” initiative while positioning the company for growth in both domestic and international markets.

Also Read: Tata Steel Q3 profit soars to ₹2,700 cr on Dutch boost

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Dow Jones tops 50,000, hits historic milestone

The Dow Jones Industrial Average (DJIA) soared past 50,000 points for the first time on Friday, marking a historic achievement for the US stock market. The index closed at 50,115.67, up 1,206.95 points, or roughly 2.5%, reflecting strong gains across multiple sectors.

This milestone comes after a volatile week in which technology stocks faced heavy selling pressure, prompting some investors to shift their focus to broader market sectors. Analysts say the Dow’s diverse composition, covering industrials, finance, and consumer goods, helped it outperform tech-heavy indices like the Nasdaq.

Among the top contributors, Caterpillar stood out, surging over 7% after posting strong earnings, while Goldman Sachs and Nvidia also rose sharply. Caterpillar’s stock has gained about 27% so far this year, building on last year’s impressive 50% rise.

Investor sentiment has been boosted by expectations that the Federal Reserve may consider future interest rate cuts without disrupting economic growth. Economists note that the market’s broad-based rally signals renewed confidence in the economy, beyond just high-profile tech stocks.

Even as some analysts caution that volatility may continue, Friday’s surge reflects a wider participation in equities, with companies tied to industrial and consumer activity leading the gains. President Donald Trump celebrated the milestone, attributing it to pro-growth policies and a strong economic outlook.

While the Dow hit the historic mark, other major indices posted more modest gains. The S&P 500 and Nasdaq rose, but they remain closely tied to tech sector performance, which continues to experience ups and downs.

Breaking 50,000 points is more than a symbolic achievement. It highlights the resilience of US markets and the confidence of investors across sectors. Analysts say sustained gains will depend on corporate earnings, Fed policy, and global economic conditions, but Friday’s rally provides a boost to market morale and investor optimism.

Also Read: Alphabet breaks $400 bn revenue barrier in 2025

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Tata Steel Q3 profit soars to ₹2,700 cr on Dutch boost

Tata Steel reported a huge increase in its net profit for the third quarter (October–December 2025), reaching around ₹2,690–₹2,730 crore, up more than nine times from roughly ₹300 crore a year ago.

The company’s revenue grew about 6% year-on-year, reaching nearly ₹57,000 crore, helped by strong sales in India and higher steel deliveries. Domestic deliveries crossed 6 million tonnes, marking a record for the company.

A major reason for the profit surge was the turnaround at Tata Steel’s Netherlands unit, which moved from a loss last year to a healthy profit. However, the UK business continued to face challenges due to weak demand.

Tata Steel’s EBITDA rose nearly 39%, reaching over ₹8,300 crore, thanks to cost-cutting measures and better efficiency. The company saved around ₹3,000 crore in the quarter and ₹8,600 crore in the first nine months of the year.

Despite tough global steel markets, including competition from China and trade uncertainties, Tata Steel maintained strong performance. The company also reduced its net debt to about ₹81,834 crore, strengthening its financial position.

In India, while steel prices were slightly lower, higher production and deliveries kept profits steady. Overall, the results reflect robust domestic demand, improved margins, and operational efficiency across key units.

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Alphabet breaks $400 bn revenue barrier in 2025

Alphabet Inc., the parent company of Google, has achieved a historic milestone by recording annual revenues exceeding $400 billion in 2025 for the first time. The landmark performance reflects strong momentum across its core businesses, supported by rising demand for artificial intelligence, digital advertising, video streaming and cloud services.

In its full-year earnings statement, Alphabet reported revenues of about $403 billion, representing around 15 per cent growth compared to the previous year. The company also delivered a robust final quarter, generating nearly $114 billion in revenue, comfortably beating analysts’ expectations and underscoring steady business expansion through the year.

Chief Executive Officer Sundar Pichai said the results demonstrate the strength of Alphabet’s long-term strategy, particularly its focus on AI-led innovation. He noted that artificial intelligence is now deeply integrated across Google’s products, improving performance, user engagement and monetisation.

Google’s search and advertising business continued to be the biggest contributor to revenues, helped by better ad targeting and the rollout of AI-powered search features. YouTube also posted solid gains, with advertising and subscription income together crossing $60 billion during 2025. Growth was driven by higher viewer engagement, strong demand for premium subscriptions and sustained interest from advertisers.

Google Cloud emerged as another major growth engine, as enterprises increasingly adopted cloud infrastructure and AI-based tools. The cloud division recorded sharp revenue growth during the year and continued to improve margins, strengthening its position in a highly competitive market.

Alphabet’s push into generative AI has been a key highlight. Its Gemini AI platform has rapidly scaled, attracting hundreds of millions of monthly users. The company said Gemini is being embedded across multiple services, from search and productivity tools to cloud offerings, helping unlock new revenue opportunities.

The strong revenue growth was matched by a rise in net profit, supported by higher scale and operational efficiencies. Looking ahead, Alphabet announced plans to significantly step up capital expenditure in 2026, with major investments planned for data centres, chips and AI infrastructure to support future demand.

Also Read: India removes small-car relief in new fuel emission rules

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MRF Q3 profit jumps 119% to ₹692 cr

MRF Ltd posted a strong financial performance in the December quarter, with its consolidated net profit surging 119 per cent year-on-year to ₹692 crore, compared with ₹315 crore in the same quarter last year.

Revenue from operations grew by about 15 per cent to ₹8,050 crore, supported by steady demand across both original equipment manufacturers and the replacement tyre market. Better pricing and improved operating efficiencies helped the company deliver higher profitability during the quarter.

Operating earnings showed a sharp improvement, with EBITDA rising nearly 68 per cent to around ₹1,399 crore. This led to a significant expansion in operating margins to 17.4 per cent, up from 11.9 per cent a year ago, reflecting effective cost management and favourable input cost trends.

Total expenditure increased moderately to about ₹7,180 crore, in line with higher production volumes. The company also recorded an exceptional expense of ₹77.2 crore, arising from a one-time increase in gratuity and leave-related liabilities following changes in legislation.

In addition to the strong earnings, MRF’s board approved a second interim dividend of ₹3 per equity share for FY26. The company has fixed February 13, 2026, as the record date for determining eligible shareholders. The dividend will be paid on or after February 27, 2026.

MRF shares reacted positively to the announcements, climbing as much as 9 per cent in intraday trade, as investors welcomed the sharp profit growth and improved margin profile.

Also Read: RBI keeps repo rate at 5.25%, stance neutral

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Sensex ends 266 points lower, Nifty near 25,700

Markets ended the day on a weak note, with the Sensex falling 266 points to 86,120 and the Nifty 50 closing near 25,700. Investors remained cautious amid volatility in domestic indices and weak global cues from the US and Asian markets.

Among individual stocks, HDFC, Infosys, and Reliance Industries led the gainers, showing resilience despite broader market weakness. On the other hand, Tata Steel, Titan, and Bharti Airtel dragged the indices lower, reflecting selective profit-taking in cyclical and high-beta stocks. Sectoral indices mirrored this mixed trend, with IT and financials outperforming while metals and consumer durables lagged.

Foreign institutional investors (FIIs) continued as net sellers, while domestic institutional investors maintained selective buying, indicating cautious optimism in certain pockets of the market. Analysts noted that short-term volatility could persist as traders await clearer cues from domestic and global developments.

On the global front, markets in the US and Asia recorded sharp declines, particularly in technology and risk-sensitive sectors, which added pressure on Indian benchmarks. This comes as investors remain attentive to inflation trends, interest rate expectations, and geopolitical developments.

Corporate earnings updates also influenced sentiment. Nykaa reported a strong quarterly profit, while Bharti Airtel’s pre-exceptional profits rose, although net profits fell due to one-off expenses. Such results highlight selective sectoral strength even as the broader market remains under pressure.

With the Reserve Bank of India’s policy signals looming, market participants are advised to monitor key support and resistance levels before taking fresh positions.

Also Read: Tim Cook talks succession, denies retirement plans

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Suzlon Energy Q3 revenue rises 42% to ₹4,228 cr

Suzlon Energy delivered a strong set of numbers in the third quarter of FY26, showing clear signs of operational recovery and balance-sheet strength. However, despite the improved performance, the market reaction remained subdued, with the company’s shares slipping after the results announcement.

For the quarter ended December 2025, Suzlon reported revenue of ₹4,228 crore, a sharp 42% increase year-on-year, supported by record wind turbine deliveries. The company executed 617 MW of projects during the quarter, its highest ever in a single quarter, compared to 447 MW in the same period last year. This reflects faster project execution and improved on-ground momentum.

Net profit for the quarter stood at ₹445 crore, marking a 15% rise from a year ago. Operating performance also improved, with EBITDA climbing to ₹739 crore, up nearly 48% year-on-year. Margins expanded to around 17.5%, indicating better cost efficiencies and operating leverage as volumes increased.

Suzlon’s order book remained healthy at 6.4 GW, even after large deliveries during the quarter. Of this, around 2.4 GW is under active execution, providing good revenue visibility for the coming quarters. The company also highlighted a strong project pipeline of over 25 GW, reflecting growing demand for wind energy amid India’s renewable push.

On the financial front, Suzlon ended the quarter with a net cash position of about ₹1,556 crore, underlining its improved balance sheet after years of stress. Management reiterated confidence in meeting its FY26 execution guidance, supported by stable demand and ongoing projects.

Despite these positives, Suzlon’s shares fell 4–5% on the day of the results. Analysts pointed out that investor sentiment was tempered due to a sequential dip in profit, as the previous quarter had benefited from a one-time tax gain. Some concerns also remain around project timelines, site readiness, and grid connectivity.

Also Read: RBI approves Blackstone’s 9.99% stake in Federal bank

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RBI approves Blackstone’s 9.99% stake in Federal bank

The Reserve Bank of India (RBI) has approved global private equity major Blackstone to acquire up to a 9.99% stake in Federal Bank, paving the way for one of the largest foreign investments in an Indian mid-sized private bank.

Blackstone will invest around ₹6,196 crore through its Singapore-based arm, Asia II Topco XIII Pte Ltd. The investment will be made through a preferential allotment of convertible warrants, subject to shareholder approval and other statutory clearances.

As part of the transaction, Federal Bank will issue up to 27.29 crore warrants to Blackstone at an issue price of ₹227 per share, which includes a premium over the market price. Each warrant can be converted into one fully paid equity share. Once fully converted, Blackstone’s holding will stand just under the 10% regulatory threshold for promoter classification.

The deal had earlier received clearance from the Competition Commission of India (CCI), removing a key regulatory hurdle before the RBI’s final approval.

Under the agreement, Blackstone will also have the right to nominate one non-executive director to Federal Bank’s board, provided its shareholding remains at 5% or more. This gives the investor a limited but meaningful role in the bank’s governance while maintaining its status as a minority shareholder.

Federal Bank is a professionally managed private lender with no single promoter, and its shareholding is widely dispersed among institutional and public investors. Analysts say Blackstone’s entry highlights growing global confidence in India’s banking sector, especially in lenders with strong retail and digital growth potential.

The fresh capital is expected to strengthen Federal Bank’s balance sheet, support future expansion plans, and improve its ability to grow its loan book across retail, MSME, and digital banking segments.

Also Read: Walmart raises pharmacy pay, top roles hit $42 an hour

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Walmart raises pharmacy pay, top roles hit $42 an hour

Walmart has announced a significant pay hike for employees working in its pharmacy operations across the United States, offering a welcome boost to thousands of frontline healthcare workers. The move reflects the retail giant’s growing focus on strengthening in-store healthcare services and supporting staff who play a critical role in patient care.

As part of the new structure, around 3,000 pharmacy technician roles have been upgraded to pharmacy operations team lead positions. These roles now earn an average of $28 an hour, with top pay going as high as $42 an hour, depending on location, experience, and performance. For many workers, this marks a major step up in both responsibility and income.

Walmart has also expanded pay ranges for pharmacy technicians, who can now earn up to $40.50 an hour, compared with earlier average wages of about $22 an hour. Importantly, many of these roles do not require a college degree, making them accessible to workers seeking stable, well-paying jobs without formal higher education.

The company says the wage increase is part of a broader effort to attract, retain, and motivate skilled pharmacy staff at a time when healthcare workers across the US are facing heavier workloads and rising costs of living. Walmart also continues to invest in employee growth by covering certification expenses for pharmacy technicians. Since 2016, the retailer has helped more than 22,000 employees gain professional pharmacy certifications.

For workers on the ground, the changes translate into more than just higher pay. The new roles offer clearer career pathways, leadership opportunities, and a sense of recognition for the work they do daily, filling prescriptions, assisting patients, and supporting pharmacists in busy community settings.

Walmart’s pharmacy employees also receive benefits such as health insurance, paid time off, and retirement plans with company matching, adding to the overall value of the compensation package.

Also Read: ElevenLabs raises $500 mn, valuation jumps to $11 bn

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Airtel Q3 profit falls 55% to ₹6,631 cr

Bharti Airtel reported a mixed set of results for the third quarter, with strong growth in revenue and operating performance, even as net profit dropped sharply compared with last year.

For the quarter ended December, the telecom major’s consolidated net profit fell 55% year-on-year to ₹6,631 crore, down from a high base in the same period last year. The decline was mainly due to one-time gains recorded in Q3 last year, including benefits from the Indus Towers consolidation, and a one-off provision related to labour law compliance during the current quarter.

Despite the fall in profit, Airtel’s core business showed solid momentum. Consolidated revenue rose nearly 20% year-on-year to ₹53,982 crore, driven by steady growth in India operations and continued expansion in Africa. Higher data usage, premium plans, and postpaid customer additions supported the topline.

A key highlight of the quarter was the improvement in Average Revenue Per User (ARPU), which increased to ₹259, up from ₹245 a year ago. The rise in ARPU reflects better customer monetisation, tariff discipline, and higher adoption of data-heavy plans. Airtel continues to maintain one of the highest ARPUs in the Indian telecom sector.

Operating profitability also strengthened. EBITDA grew over 25% year-on-year to around ₹31,144 crore, with margins improving to nearly 58%, indicating better cost control and operating leverage. Sequentially, both revenue and EBITDA showed growth, underlining stable quarter-on-quarter performance.

During the quarter, Airtel continued to invest in its network, expanding 4G and 5G coverage, adding new towers, and strengthening its fibre footprint. The company also added more smartphone and postpaid users, supporting long-term revenue visibility.

Management said the underlying business remains strong, with improving cash flows and a healthier balance sheet, even though headline profit numbers were impacted by exceptional items and accounting factors.

Also Read: RBI says most ₹2,000 notes returned, still legal tender