Business

Board Approval Secured for QIP Issue Public sector lender Indian Overseas Bank has confirmed plans to approach the capital markets to raise ₹4,000 crore during the current quarter. The proposed fundraise has already received approval from the bank’s Board and is scheduled within the ongoing financial year.Managing Director and Chief Executive Officer Ajay Kumar Srivastava said the bank has completed all necessary internal approvals and is now preparing to tap the markets.Fundraising Likely Through Qualified Institutional Placement The capital raising will be carried out through Qualified Institutional Placement. The timing of the issue will depend on prevailing market conditions, with the bank indicating that the transaction could...

Mumbai, January 14, 2026: Tata Consultancy Services Limited (TCS) on Wednesday announced the completion of its acquisition of US-based Coastal Cloud Holdings, LLC, marking a strategic move to deepen its presence in advisory-led digital transformation and artificial intelligence-led enterprise services.The transaction, which was concluded on January 14, 2026, results in TCS acquiring 100 percent equity ownership of Coastal Cloud along with its subsidiaries. Coastal Cloud operates in advisory, AI services, IT services, and IT-enabled services, with a strong focus on Salesforce-driven digital transformation for global enterprises.Deal Structure and Completion The acquisition was executed through a two-step structure. An indirect...

Mumbai, January 14, 2026: Mahindra & Mahindra Limited announced a strong market response to its latest SUV launches, with the XEV 9S and XUV 7XO together clocking 93,689 consolidated bookings as of 2.00 pm on January 14, 2026. The cumulative bookings translate into a booking value of over ₹20,500 crore, calculated at ex-showroom prices.The milestone follows the recent launch of the electric-origin XEV 9S and the new-generation XUV 7XO, underscoring robust customer interest across electric, diesel, and petrol powertrain options in the authentic SUV segment. The company highlighted that the two models cater to distinct usage needs and evolving consumer preferences, further reinforcing its position in India’s SUV market.Delivery...

Bengaluru, January 14, 2026 – Ola Electric Mobility Limited today announced a major expansion of its in-house 4680 Bharat Cell platform, positioning it as a broader new energy ecosystem that extends beyond electric mobility into residential storage and advanced industrial applications.The company unveiled the expansion at Prarambh 2026, opening up the 4680 Bharat Cell and its modular 1.5kWh battery packs for direct purchase by businesses and startups. The move allows applications across electric vehicles, drones, humanoids and portable medical equipment, enabling faster innovation using domestically designed and manufactured energy storage solutions.Entry Into Residential Energy Storage As part of the platform expansion, Ola...

New Delhi, January 14, 2026: RailTel Corporation of India Limited (NSE: RAILTEL | BSE: 543265) has secured a major domestic services contract valued at Rs 15.99 crore from the Food Safety and Standards Authority of India, strengthening its order book in the government digital infrastructure segment. The order pertains to cloud services and has been awarded by a domestic government entity. The work order was received on January 13, 2026, at 15:28 IST, and the contract execution period extends up to January 5, 2029. The engagement is not linked to any related party transaction, and the promoter or promoter group has no interest in the awarding entity. Key Order DetailsParticularsDetailsAwarding AuthorityFood Safety and Standards...

Mumbai, January 14, 2026: Tata Consultancy Services announced a strategic collaboration with semiconductor major AMD to accelerate enterprise adoption of artificial intelligence at scale, spanning generative AI, hybrid cloud modernisation and high-performance computing deployments.The partnership is aimed at helping enterprises move AI initiatives from pilot stages to full-scale production, while modernising legacy technology environments and building secure, high-performance digital workplaces. The two companies will jointly develop industry-specific AI and GenAI solutions by combining TCS’ domain expertise, systems integration strengths and global innovation ecosystem with AMD’s computing and AI product portfolio.Under the...

Thrissur, January 14, 2026 – Kalyan Jewellers India Limited (NSE: KALYANKJIL, BSE: 543278) has announced the appointment of Ms. Radhika Ramani and Mr. C. R. Rajagopal as Additional Directors in the capacity of Non-Executive Independent Directors, effective January 14, 2026.The appointments mark a significant step in the company’s ongoing efforts to deepen board expertise, enhance independent oversight, and strengthen long-term governance practices. Both directors have been appointed for a term of five consecutive years, extending up to January 13, 2031.Board Expansion Aligned with Governance Priorities The company stated that the induction of the two independent directors aligns with its broader focus on robust corporate governance...

Pune, January 14, 2026: Bajaj Auto Limited informed investors that its step-down subsidiary, Bajaj Mobility AG, has continued with a comprehensive restructuring programme, even as the European motorcycle group closed calendar year 2025 with consolidated revenue of just over EUR 1 billion amid a sharp industry reset.Bajaj Mobility AG, formerly known as PIERER Mobility AG and the holding company of the KTM Group, said the restructuring measures are aimed at strengthening long-term competitiveness through cost rationalisation, simplification of operations, and sharper focus on core motorcycle brands.2025 Financial and Sales Performance For the financial year ended 2025, Bajaj Mobility reported consolidated revenue of slightly above EUR...

Mumbai, January 14, 2026 Tata Chemicals Limited (BSE: 500770, NSE: TATACHEM) on Tuesday announced a series of senior management changes, marking a planned leadership transition across key commercial, safety, sustainability, and strategy functions. The changes are part of an internal succession plan and will come into effect in phases between February and April 2026. Key Leadership Transitions Mr. K. R. Venkatadri, currently serving as Chief Commercial Officer, will retire from the company on March 31, 2026, upon attaining superannuation, in line with the company’s retirement policy. His exit concludes a long tenure overseeing Tata Chemicals’ commercial operations. Mr. Alok Chandra, who currently heads the Health, Safety and Environment...

Meeting Highlights India France Strategic Partnership Diplomatic Advisor to French President Emmanuel Macron, Emmanuel Bonne, called on Prime Minister Narendra Modi in New Delhi on January 14.Focus on Expanding Bilateral Cooperation Following the meeting, Prime Minister Modi said the discussion reaffirmed the strong and trusted India France Strategic Partnership, highlighting close cooperation across multiple domains. He noted that collaboration between the two countries continues to deepen and is expanding into areas such as innovation, technology and education.India France Year of Innovation in Spotlight The Prime Minister said it was encouraging to see growing engagement in innovation driven initiatives, particularly as both...

Mumbai, January 14, 2026 – Indian Oil Corporation Limited (IOC), in partnership with Bharat PetroResources Limited, has reported multiple oil discoveries in Onshore Block 1 in Abu Dhabi, marking a significant milestone in India’s public-sector energy companies’ overseas upstream operations.The two companies jointly operate the Onshore Block 1 exploration concession through their equal joint venture, Urja Bharat Pte Limited, which secured the block in Abu Dhabi’s 2019 bid round. The latest discoveries reinforce the block’s hydrocarbon potential across both unconventional and conventional reservoirs.Unconventional Shilaif Play Shows Strong Results The first discovery was made in the unconventional Shilaif play through the XN-76...

Mumbai, January 13, 2026: Thomas Cook (India) Limited announced a strategic partnership with the Government of Gujarat to strengthen and promote the state’s domestic tourism offerings across key Indian markets. The collaboration has been formalised through a Memorandum of Understanding signed during the Vibrant Gujarat Summit 2026 held in Rajkot.The partnership brings together Gujarat Tourism’s destination development roadmap with Thomas Cook India’s nationwide omnichannel distribution network, product design capabilities, consumer insights, and marketing outreach. The initiative is aimed at enhancing destination awareness, increasing consideration, and driving higher tourist footfalls to the state.Under the collaboration, focused...

Ludhiana, January 13, 2026: Happy Forgings Limited has executed a long-term lease agreement for land required to set up a solar power plant, marking a key step in strengthening its renewable energy infrastructure.The company has secured land spread across approximately 80 acres in Muktsar district, Punjab, through agreements with multiple local landowners. The lease tenure is for 29 years and 11 months, providing long-term operational visibility for the proposed solar project.The land acquisition is aligned with Happy Forgings’ previously stated plans to establish a solar power facility, aimed at supporting its manufacturing operations with cleaner and more sustainable energy sources. The arrangement does not involve any equity...

Chennai, January 13, 2026 – Indian Overseas Bank (BSE: 532388 | NSE: IOB) has announced a reduction in its Overnight Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points, bringing it down to 7.95 percent, effective January 15, 2026. The revision follows a review of the bank’s lending rate framework by its Asset Liability Management Committee (ALCO), based on the MCLR workings as of January 10, 2026. The move is expected to provide marginal relief to borrowers with overnight-linked loans, while lending rates across longer tenors remain unchanged. Revised MCLR StructureTenorExisting MCLR (%)ChangeRevised MCLR (%)Overnight8.00Reduced by 5 bps7.95One Month8.30No change8.30Three Month8.40No change8.40Six...

Passenger vehicle sales in India are expected to grow by around 10 percent in 2026, extending the recent momentum seen after GST rate cuts, with sport utility vehicles continuing to lead demand. The outlook was shared by Shailesh Chandra, Managing Director and Chief Executive Officer of Tata Motors Passenger Vehicles, as the company steps up its product expansion strategy for the year ahead.Industry Growth Gathers Pace After GST Reforms According to Chandra, the passenger vehicle industry witnessed a decline during the first eight months of 2025. However, growth picked up sharply after GST reforms, with sales rising more than 20 percent in the months that followed. December recorded strong volumes, and early indicators for January...

Mumbai, January 13: The Indian rupee closed weaker on Tuesday, slipping 4 paise to 90.21 against the US dollar in provisional trade, pressured by rising crude oil prices, a firm American currency, and continued foreign fund outflows.At the interbank foreign exchange market, the rupee opened at 90.24 and moved lower during the session, touching an intra-day low of 90.30 against the greenback. The domestic currency eventually settled at 90.21, compared with its previous close of 90.17 recorded on Monday.Global and Domestic Factors Impact Currency Movement The rupee remained under pressure amid elevated geopolitical tensions and subdued risk appetite across global markets. Weakness in domestic equities further weighed on sentiment...

Tagline Revised Across Platforms Eternal-owned quick commerce company Blinkit has removed its long used 10 minute delivery claim from its branding across platforms, reflecting a shift in messaging amid rising concerns around delivery workers’ welfare.The company has updated its tagline from “10,000+ products delivered in 10 minutes” to “30,000+ products delivered at your doorstep.”Labour Ministry Discussions Trigger Industry Review The change comes after discussions between quick commerce platforms and the Union Ministry of Labour, which has been examining issues related to safety, security and working conditions of gig workers.Other major quick commerce players, including Swiggy and Zepto, may also reassess their delivery time...

Rideable Royal Enfield Motorcycles Set to Debut in Battlegrounds Mobile India Royal Enfield and Krafton India on Tuesday announced a partnership to introduce the Bullet 350 and Continental GT 650 as rideable motorcycles in the popular online game Battlegrounds Mobile India.Both motorcycles will be available to players from January 19, 2026, as part of the BGMI 4.2 update, which is scheduled to go live on January 15, 2026.Collaboration Blends Motorcycling Culture With Digital Gameplay Commenting on the collaboration, Royal Enfield Head Custom and Motorsports Adrian John Sellers said the partnership goes beyond brand presence and focuses on engaging with the community in a space that reflects shared values of thrill, freedom, and self...

Industry Body Submits Pre-Budget Proposals to Finance Minister The Federation of Associations of Cottage and Small Industries has urged the central government to introduce targeted tax, credit and regulatory relief measures for micro and small enterprises in the Union Budget for 2026–27, stressing the need to sustain growth and reinforce the sector’s role in the industrial ecosystem.In a pre-budget letter submitted to Finance Minister Nirmala Sitharaman, FACSI president H K Guha said the proposals were formulated after consultations with multiple associations of entrepreneurs and micro and small enterprise groups across the country.GST Simplification and Dedicated MSME Council Proposed Among its key demands, FACSI has called for the...

Sector Calls for Shift From Capacity Additions to Execution Certainty The renewable energy industry has urged the government to extend targeted incentives for research and development, along with support for domestic manufacturing of ingots and wafers, in the Union Budget for FY27. The appeal comes as the sector looks to move beyond capacity announcements and focus on execution certainty across the clean energy value chain.Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for the financial year 2026 to 27 in Parliament on February 1.Focus on Policy Clarity, Transmission and Green Finance Industry stakeholders said sustained growth in renewable energy would depend on clear policy direction, financially...