Category: Corporate

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Corporate

Kotak to expand with Deutsche acquisition

Kotak Mahindra Bank has announced that it will acquire Deutsche Bank’s retail banking, private banking and wealth management business in India, marking a significant step in its expansion strategy.

The acquisition will bring Deutsche Bank India’s retail customer portfolio, wealth management clients and private banking operations under Kotak Mahindra Bank, helping the lender strengthen its position in the country’s fast-growing financial services market. The deal is subject to regulatory approvals and customary closing conditions.

While the financial details of the transaction have not been disclosed, both banks said the agreement is aimed at ensuring a smooth transition for customers and employees. Deutsche Bank will continue to operate its corporate and investment banking businesses in India, maintaining its focus on institutional and large corporate clients.

For Kotak Mahindra Bank, the acquisition is expected to expand its customer base, deepen its presence in affluent banking and wealth management, and enhance its product offerings. The bank said it remains committed to providing uninterrupted services and ensuring a seamless migration for customers joining its network.

Deutsche Bank said the move aligns with its global strategy of focusing on businesses where it has greater scale and competitive strength. By exiting retail and private banking operations in India, the German lender aims to concentrate on corporate banking, investment banking and global financial services.

The acquisition comes at a time when India’s banking industry is witnessing rising demand for personalised wealth management and digital banking services. Once regulatory approvals are secured, the deal is expected to further strengthen Kotak Mahindra Bank’s presence in key retail and wealth management segments while allowing Deutsche Bank to sharpen its focus on institutional banking in India.

Also Read: Mahindra and Mahindra June sales surge 37%

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Corporate

Mahindra and Mahindra June sales surge 37%

Mahindra & Mahindra posted a strong sales performance in June, reporting its highest-ever SUV sales for the month as customer demand for utility vehicles continued to remain robust.

The company sold 60,393 SUVs in the domestic market during June, a 28 per cent increase over the same month last year. It also recorded total vehicle sales of 1,06,680 units, including exports, marking a 37 per cent year-on-year growth.

Mahindra attributed the impressive performance to sustained demand across its SUV portfolio, supported by new product launches, improved production capacity and efficient deliveries. Popular models such as the Scorpio, XUV700, Thar, Bolero and XUV 3XO continued to attract strong customer interest, helping the company achieve another monthly milestone.

The automaker said its Utility Vehicles segment remained the key growth driver, reflecting the increasing preference among Indian buyers for SUVs across urban and rural markets. The company has steadily expanded its presence in the segment by introducing feature-rich models catering to different price categories.

Commercial vehicle sales also contributed to the overall growth, while exports added to the company’s strong monthly performance. Mahindra said the sustained demand reflects growing consumer confidence despite challenging market conditions.

Company officials expressed satisfaction over the record June numbers, stating that the strong response from customers has been supported by improved supply chains and higher manufacturing capacity. The company said it remains focused on meeting demand while maintaining product quality and reducing waiting periods for customers.

Also Read: Shell sees Global LNG demand jump 65%

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Corporate

Sensex climbs 450 points, Nifty reclaims 24,000

The markets staged a strong comeback on Wednesday, where the BSE Sensex surged more than 450 points during the session, while the NSE Nifty reclaimed the 24,000 mark. Buying was broad-based, led by automobile, consumer and pharmaceutical stocks, even as investors continued to monitor geopolitical developments and the progress of the monsoon.

Among the biggest gainers on the Sensex were Tata Motors, Trent, Mahindra & Mahindra, Sun Pharma and Larsen & Toubro. Their gains reflected renewed investor interest in auto and healthcare stocks following encouraging business updates and improved market confidence.

On the losing side, Kotak Mahindra Bank, Eternal, Asian Paints and a few select financial stocks traded in the red as investors booked profits after recent gains.

The broader market also remained upbeat, with the Nifty Midcap and Smallcap indices trading higher, indicating that buying interest extended beyond heavyweight stocks. Most sectoral indices ended in positive territory, with auto, pharma and capital goods leading the advance.

Also Read: Axis Bank CFO Puneet Sharma joins HDFC Bank

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Sensex sheds 250 points, Nifty slips below 23,900

Indian benchmark indices ended lower on Tuesday after a volatile trading session, with selling in information technology stocks wiping out early gains. The BSE Sensex closed about 250 points lower, while the NSE Nifty slipped below the 23,900 mark as investors booked profits and turned cautious over global cues.

The market began the day on a positive note, with the Sensex rising more than 200 points and the Nifty climbing above 24,000. However, the optimism faded as selling intensified in IT stocks during the second half of the session, pulling both indices into negative territory.

Among the top gainers, Maruti Suzuki emerged as one of the best performers after rising nearly 3%. Sun Pharma, ICICI Bank and Mahindra & Mahindra also ended with gains, supported by buying in auto, banking and pharmaceutical stocks.

On the other hand, IT heavyweights Infosys, TCS and Wipro were among the biggest losers, dragging the broader market lower. Persistent concerns over global technology spending and uncertainty around the US interest-rate outlook continued to weigh on investor sentiment towards the sector.

Despite the decline in benchmark indices, buying interest was seen in select large-cap stocks, limiting the overall losses. Market experts believe investors are increasingly focusing on company-specific opportunities rather than making broad market bets.

Going ahead, market participants will closely track global developments, crude oil prices, movements in the US dollar and FII flows for fresh direction. Analysts expect volatility to persist in the near term, with sector-specific movements likely to drive trading until stronger domestic or global triggers emerge.

Also Read: Blue Cloud sheds 8% after BSNL partnership

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Corporate

Blue Cloud sheds 8% after BSNL partnership

Blue Cloud Softech Solutions has been selected by BSNL to provide 5G Fixed Wireless Access (FWA), Internet Leased Line (ILL) and captive private network services for businesses across India.

As part of the partnership, Blue Cloud will build, operate and maintain the network infrastructure needed to deliver these services, while BSNL will offer them under its own brand. The companies will share the revenue generated from the services.

The collaboration is expected to help businesses adopt secure, high-speed connectivity for factories, offices, campuses and other enterprise applications. Private 5G networks are increasingly being used by companies to improve automation, data security and operational efficiency.

Blue Cloud said the empanelment is an important milestone that strengthens its presence in India’s fast-growing enterprise telecom market. The company expects the partnership to open up new opportunities as businesses increasingly adopt next-generation digital connectivity.

Despite the announcement, Blue Cloud Softech’s shares fell nearly 8% during Tuesday’s trade. Market experts attributed the decline to profit booking after recent gains rather than any concerns about the agreement.

The partnership also supports BSNL’s plans to expand its enterprise services portfolio as it rolls out next-generation telecom solutions across the country. Both companies expect the collaboration to help meet the growing demand for reliable and high-speed business connectivity.

Blue Cloud Softech Solutions has been selected by BSNL to provide 5G Fixed Wireless Access (FWA), Internet Leased Line (ILL) and captive private network services for businesses across India.

As part of the partnership, Blue Cloud will build, operate and maintain the network infrastructure needed to deliver these services, while BSNL will offer them under its own brand. The companies will share the revenue generated from the services.

The collaboration is expected to help businesses adopt secure, high-speed connectivity for factories, offices, campuses and other enterprise applications. Private 5G networks are increasingly being used by companies to improve automation, data security and operational efficiency.

Blue Cloud said the empanelment is an important milestone that strengthens its presence in India’s fast-growing enterprise telecom market. The company expects the partnership to open up new opportunities as businesses increasingly adopt next-generation digital connectivity.

Despite the announcement, Blue Cloud Softech’s shares fell nearly 8% during Tuesday’s trade. Market experts attributed the decline to profit booking after recent gains rather than any concerns about the agreement.

The partnership also supports BSNL’s plans to expand its enterprise services portfolio as it rolls out next-generation telecom solutions across the country. Both companies expect the collaboration to help meet the growing demand for reliable and high-speed business connectivity.

Also Read: OYO parent files ₹6,650 cr IPO papers with Sebi

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OYO parent files ₹6,650 cr IPO papers with Sebi

OYO’s parent company, Oravel Stays Limited, through its holding entity Prism, has filed updated draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) worth ₹6,650 crore.

Founded by Ritesh Agarwal, OYO has expanded its presence across hotels, holiday homes and managed accommodations in India and several international markets. In recent years, the company has focused on improving profitability, streamlining operations and expanding premium offerings.

Unlike its earlier proposal, the IPO will consist entirely of a fresh issue of shares, with no offer-for-sale component. This means the entire amount raised will go to the company instead of existing shareholders.

The proposed public issue comes after OYO withdrew its earlier IPO plans and has now returned to the market with revised documents. The company plans to use the proceeds to strengthen its business, repay debt, support expansion and meet general corporate requirements.

Also Read: Ford rehires 350 engineers after AI quality checks falter

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Adani sells 49% Vizhinjam port stake to MSC

Kerala’s Vizhinjam International Seaport is set to get a major global partner, with Adani Ports and Special Economic Zone (APSEZ) agreeing to sell a 49% stake in the project to Terminal Investment Limited (TiL), the port-operating arm of MSC Mediterranean Shipping Company. Valued at around $1.4 billion (about ₹12,000 crore), the deal is expected to accelerate the port’s growth as a global transshipment hub while bringing one of the world’s largest shipping companies into the project.

Adani Ports will continue to hold a 51% stake, retaining management control of the strategically important deep-water port. The partnership is expected to strengthen Vizhinjam’s role in global shipping while attracting fresh investment for its next phase of development.

Located close to one of the world’s busiest east-west shipping routes, Vizhinjam is India’s first deep-water transshipment port. Its natural depth allows some of the world’s largest container vessels to dock without extensive dredging, making it a strategically important asset for the country’s maritime sector.

The collaboration combines Adani Ports’ infrastructure expertise with MSC’s vast global shipping network. The companies expect the partnership to increase container traffic, improve operational efficiency and attract more international shipping services to the Kerala port.

The fresh investment will support the expansion of terminals, cargo-handling facilities and supporting infrastructure. Industry experts believe this will help India reduce its dependence on foreign ports such as Colombo, Singapore and Dubai for transshipment services while strengthening the country’s logistics network.

The deal is also expected to benefit Kerala by creating jobs, boosting trade and increasing economic activity around the port. As cargo volumes grow, Vizhinjam is likely to emerge as a key gateway for international maritime trade in the region.

The transaction will take effect after receiving the necessary regulatory approvals. Industry observers believe the partnership will not only strengthen Vizhinjam’s position on global shipping routes but also enhance India’s maritime infrastructure, helping the country handle a larger share of international container traffic through its own ports.

Also Read: Rupee falls 7 paise to 94.58 against dollar

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Sensex rises over 200 points, Nifty climbs above 24,000

Markets opened on a strong note on Tuesday, with benchmark indices extending their gains in early trade. The BSE Sensex advanced more than 200 points, while the NSE Nifty crossed the key 24,000 mark, supported by buying in auto, banking and pharmaceutical stocks.

Investor sentiment remained upbeat following positive global cues and steady foreign fund inflows. Buying in heavyweight stocks helped lift the indices, even as traders stayed watchful ahead of key global economic developments.

Among the top performers, Maruti Suzuki jumped nearly 3% after witnessing strong buying interest, emerging as one of the biggest gainers on the Sensex. Other stocks such as Sun Pharma, ICICI Bank and Mahindra & Mahindra also traded higher, contributing to the market’s early strength.

However, gains in the broader market were capped by weakness in select information technology stocks. Infosys, TCS and Wipro remained under pressure as investors turned cautious over the sector amid concerns about global demand and the outlook for technology spending.

Investors continue to favour domestic-focused sectors such as automobiles, banking and healthcare, while remaining selective in export-oriented segments like IT. They added that global market trends, crude oil prices, foreign institutional investor activity and upcoming economic data will remain key drivers for market direction in the coming sessions.

Also Read: Astral Limited shares slides 6% after demerger move

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Corporate

Astral Limited shares slides 6% after demerger move

Astral Ltd shares fell more than 6% on Monday after the company announced plans to demerge its chemicals business into a separate listed entity. The market reacted cautiously to the proposal, making Astral one of the day’s biggest losers despite analysts highlighting potential long-term benefits.

The proposed demerger aims to separate Astral’s adhesives and chemicals operations from its core pipes and plumbing business. The company said the move will allow both businesses to pursue independent growth strategies, improve operational focus and unlock shareholder value.

Management believes the two businesses have evolved into sizeable operations with distinct markets, customers and growth opportunities. By operating as separate entities, each business will be able to make faster strategic decisions, allocate capital more efficiently and attract investors focused on their respective sectors.

Despite the strategic rationale, investors booked profits after the announcement, pushing the stock lower during Monday’s trading session. Market participants appeared concerned about the near-term uncertainty surrounding the demerger process, regulatory approvals and the timeline for implementation.

Brokerages, however, maintained a largely positive outlook. Several analysts said the correction could offer a buying opportunity, noting that demergers often create long-term value by enabling businesses to operate independently. They added that Astral’s strong position in the pipes and plumbing segment remains unchanged.

The demerger proposal is subject to approvals from shareholders, regulators and the National Company Law Tribunal. Until the process is completed, both businesses will continue operating under the existing structure.

At the same time, the core building materials business is expected to benefit from a sharper strategic focus and continued demand from India’s infrastructure and housing sectors.

Also Read: Swiggy, Zepto move court against gig workers law

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Sensex falls 370 points, Nifty slips below 23,950

The stock market ended lower on Monday as profit booking in banking and information technology stocks pulled benchmark indices into the red. The BSE Sensex dropped 372 points to close at 79,379, while the NSE Nifty50 fell 100 points to settle at 23,944, slipping below the crucial 23,950 mark.

Heavy selling in banking stocks weighed on investor sentiment, with Kotak Mahindra Bank emerging among the top losers after announcing that CEO Ashok Vaswani would not seek another term. Persistent Systems also declined sharply after its proposed acquisition of Germany-based Nagarro raised concerns over the deal’s valuation. Other notable laggards included Axis Bank, HCLTech and Bajaj Finance.

On the positive side, Trent, Tata Steel, JSW Steel, Hindalco Industries and UltraTech Cement were among the day’s top gainers, supported by buying in metal and consumer-focused stocks. Gains in these counters, however, were insufficient to offset losses in heavyweight banking and IT shares.

Monday’s decline was largely driven by profit booking following the market’s recent rally. Investors also remained cautious ahead of key global economic data and continued to track foreign institutional investor (FII) activity.

Sector-wise, banking, financial services and information technology indices led the losses, while metals and select infrastructure stocks witnessed buying interest. Broader markets showed mixed performance, with mid-cap and small-cap stocks outperforming benchmark indices in several pockets.

The rupee traded within a narrow range against the US dollar, while crude oil prices remained largely stable, offering little direction to the market.

Also Read: BIS warns AI boom faces rising global financial risks