Business

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...

Mumbai, January 13, 2026 Metropolis Healthcare Limited (NSE: METROPOLIS | BSE: 542650) on Tuesday announced the launch of its Centre of Genomics, strengthening its capabilities in advanced genomics, molecular diagnostics, precision medicine, and genomic research, as the company sharpens its focus on high-impact, data-driven diagnostics.The newly launched Centre of Genomics brings together Metropolis’ existing genomics strengths under a unified national framework aimed at delivering clinically actionable genomic insights across the care continuum. The initiative targets key clinical specialties, including oncology, reproductive health, neurology, transplant immunology, and rare diseases, positioning genomics as a core growth engine for...

New Delhi, January 12, 2026: TARC Limited (BSE: 543249, NSE: TARC) has expanded the total development area of its luxury group housing project TARC ISHVA in Gurugram to 9.1405 acres, up from the earlier 6.95 acres, strengthening the scale and scope of the premium residential development. The project, located in Sector 63A, Gurugram, has received an addendum to its existing registration, allowing the company to undertake development across the enlarged land parcel. The expansion marks a meaningful increase in the project’s addressable area and enhances its overall development potential in one of Gurugram’s prime residential corridors. Project Expansion DetailsParticularsEarlierRevisedProject NameTARC ISHVATARC ISHVA...

Corporate and Non Corporate Taxes Drive Overall Growth Net direct tax collection in the current financial year rose 8.82 percent to over Rs 18.38 lakh crore up to January 11, according to data released by the Income Tax Department.The collection includes net corporate tax receipts of more than Rs 8.63 lakh crore. Taxes collected from non corporate taxpayers, including individuals and Hindu Undivided Families, stood at Rs 9.30 lakh crore during the same period.Securities Transaction Tax and Refund Trends Securities Transaction Tax collection reached Rs 44,867 crore between April 1 and January 11. During this period, refunds declined 17 percent to Rs 3.12 lakh crore.Gross Direct Tax Collection at Rs 21.50 Lakh Crore Gross direct tax...

Company Clarifies Reports on Lithium-Ion Battery Cell Strategy Reliance Industries on Monday said its plans to build a comprehensive battery storage manufacturing ecosystem remain unchanged and are progressing in line with internal timelines. The clarification came in response to reports suggesting that the company had paused its lithium-ion battery cell manufacturing plans in India.A company spokesperson stated that there has been no change in Reliance’s strategy to create a world-leading battery storage manufacturing ecosystem, covering the entire value chain from cells to containerised energy storage systems.Battery Cell Manufacturing Targeted to Begin in 2026 Reliance had earlier indicated 2026 as the target year to begin...

Focus on Empowerment Over Freebies at Vibrant Gujarat Conference Rajkot, January 12: Union Minister Piyush Goyal on Monday said Prime Minister Narendra Modi believes in empowering citizens through structured schemes rather than offering long term freebies.Addressing a seminar on the PM Surya Ghar Muft Bijli Yojana and the PM KUSUM Yojana at the Vibrant Gujarat Regional Conference in Rajkot, Goyal said both initiatives were personally designed by the Prime Minister and reflect a philosophy centered on participation and accountability.Citizens Encouraged to Have Personal Stake The Union Minister said the government does not support schemes that create long term dependence without public involvement. He stressed that individuals should...

Mumbai, January 12, 2026: CEAT Limited has incorporated a wholly owned subsidiary in the United Kingdom, marking a step forward in strengthening its overseas footprint and expanding its international presence.The newly incorporated entity, CEAT International UK Limited, has been set up with an initial share capital of 15,000 equity shares, each having a face value of GBP 1, aggregating to a paid-up capital of GBP 15,000. Being a freshly incorporated company, it does not have any operational turnover at this stage.Subsidiary Structure and Business Scope CEAT International UK Limited is a 100 percent-owned subsidiary of CEAT Limited. Apart from this shareholding relationship, there is no separate interest held by the promoter or...

Jaipur, January 12, 2026: Dynamic Cables Limited (BSE: 540795 | NSE: DYCL) has strengthened its quality and testing infrastructure after its Quality Control Laboratory at the Ringus manufacturing facility in Rajasthan received ISO/IEC 17025:2017 accreditation. The accreditation covers the company’s testing laboratory located at Unit-4 in the SKS Industrial Area, Ringus, Sikar district, reaffirming the laboratory’s technical competence, precision, and reliability in testing operations. The certification is valid until January 11, 2030. Accreditation DetailsParticularsDetailsFacilityQuality Control Laboratory, Unit-4LocationRingus, Sikar, RajasthanAccreditation StandardISO/IEC 17025:2017FieldTestingCertificate...

Bhubaneswar, January 12, 2026: IndiQube Spaces Limited has entered Bhubaneswar, marking its debut in Odisha and taking its operational footprint to 17 cities across India. The move strengthens the company’s presence in East India, with Bhubaneswar becoming its second city in the region after Kolkata.The new centre spans over 45,000 square feet and is located at Patia Infocity, one of Bhubaneswar’s most prominent IT and commercial hubs. The facility is designed to cater to startups, global capability centres, and large enterprises seeking flexible, technology-enabled office infrastructure in emerging urban markets.Focus on High-Growth Tier II Markets With this expansion, IndiQube continues to deepen its exposure to high-potential...

Noida, January 12, 2026: HCL Technologies Ltd (HCLTech) announced a multi-year strategic partnership with The Magnum Ice Cream Company (TMICC) to modernize and manage its global digital foundation, marking a key technology milestone as TMICC advances its journey as an independent, listed ice cream major.Under the partnership, HCLTech will design, build, and operate a future-ready IT infrastructure for TMICC, deploying its proprietary AI Force platform to embed artificial intelligence across the company’s digital ecosystem. The engagement is focused on creating scalable, resilient, and autonomous IT operations to support TMICC’s global business.Focus on AI-First, Autonomous Operations As part of the engagement, HCLTech will help...

New Delhi, January 12, 2026: Maruti Suzuki India Limited (NSE: MARUTI | BSE: 532500) has approved the acquisition of land at Khoraj Industrial Estate in Gujarat to support a significant expansion of its vehicle manufacturing capacity, reinforcing the company’s long-term growth strategy amid rising domestic and export demand.Capacity Expansion Plan The proposed project is designed to add up to 1 million units to Maruti Suzuki’s annual production capacity. The timeline and phased installation plan for the new capacity will be finalized by the board as the project progresses.Current Manufacturing Footprint Maruti Suzuki currently operates manufacturing facilities across Gurugram, Manesar, Kharkhoda, and Hansalpur, with an installed...