Business

Gurugram, January 1, 2026: Hyundai Motor India Limited on Wednesday announced that Tarun Garg has officially assumed charge as Managing Director and Chief Executive Officer, marking a historic first in the company’s nearly three-decade presence in the country.With this appointment, Garg becomes the first Indian national to head Hyundai Motor India since its inception, underlining the growing strategic importance of India within Hyundai Motor Group’s global operations.Leadership Transition Marks New Growth Phase Tarun Garg brings over 32 years of experience in the automotive sector, with deep expertise across sales, marketing, distribution, product strategy, financial management and brand building. His elevation comes at a time when...

New Delhi, January 1, 2026: Eicher Motors Limited (EICHERMOT) reported a strong performance by its commercial vehicle arm VE Commercial Vehicles Limited (VECV) in December 2025, with total sales volumes rising sharply on the back of robust domestic demand for trucks and improved export traction. December 2025 Sales Performance VECV recorded total sales of 10,384 units in December 2025, marking a 24.7 percent year-on-year growth compared with 8,324 units sold in December 2024. The growth was largely supported by higher volumes in Eicher-branded trucks and buses, including electric vehicles. Segment-wise Sales Comparison (December)SegmentDec 2025Dec 2024YoY GrowthTotal Eicher Trucks and Buses (incl. EVs)10,1778,03526.7%Domestic...

Bengaluru, January 1, 2026 – V.S.T Tillers Tractors Ltd reported a strong increase in sales volumes for December 2025, supported by higher demand across both power tillers and tractors, lifting year-to-date dispatches sharply compared with the previous year. December 2025 Sales Performance During December 2025, the company sold a total of 4,376 units, marking a solid improvement over 3,372 units sold in December 2024.Power tillers sales stood at 3,792 units, up from 3,007 units in the year-ago month. Tractors sales came in at 584 units, compared with 365 units in December 2024.Year-to-Date Sales Comparison For the period ended December 2025, cumulative sales volumes showed a notable expansion on a year-on-year basis...

Faridabad, January 1, 2026 Escorts Kubota Limited reported a strong surge in tractor sales during December 2025, supported by robust domestic demand and sharp growth in exports, while its construction equipment business continued to face a challenging operating environment. The company’s agri machinery business sold 7,577 tractors in December 2025, registering a 38.5 percent year-on-year growth compared with 5,472 units sold in the same month last year. Tractor Business Performance Domestic tractor sales stood at 6,828 units, reflecting a 36.1 percent increase over December 2024. The growth was aided by strong agricultural output, higher Rabi sowing activity, improved water availability, and positive rural sentiment, which together...

Mumbai, January 1, 2026: Vodafone Idea Limited (IDEA) has entered into an amendment agreement with its promoter group entities from the Vodafone Group, formalising the discharge and recovery framework of contingent liabilities arising from the 2017 merger between Vodafone India and Idea Cellular.Amendment Linked to Merger-Related Contingent Liabilities The amended agreement relates to the contingent liability adjustment mechanism that was established at the time of the merger. Under this mechanism, Vodafone Idea had earlier recognised a maximum receivable of ₹8,369 crore from the Vodafone Group promoters. Of this, ₹1,975 crore has already been received.Following the amendment executed on December 31, 2025, the remaining receivable...

New Delhi, December 31, 2025: Housing and Urban Development Corporation Limited (HUDCO) reported strong business momentum during the nine months ended December 31, 2025, with cumulative loan sanctions reaching ₹1,39,151.92 crore. Strong Loan Sanctions Momentum During the third quarter of FY26 alone, HUDCO achieved loan sanctions of ₹46,167.32 crore, contributing significantly to the overall nine-month performance. The steady pace of sanctions reflects continued demand across housing and urban infrastructure financing segments. Disbursements Maintain Healthy Trajectory Loan disbursements for the nine-month period stood at ₹41,346.70 crore. In Q3 FY26, disbursements amounted to ₹15,508.25 crore, indicating sustained execution and fund...

New Delhi, January 1, 2026 – Indian Renewable Energy Development Agency Limited (IREDA) continued to scale up its lending operations, reporting robust growth across key business parameters for the period ended December 31, 2025, based on provisional performance figures. The state-owned renewable energy financier recorded a strong increase in loan sanctions, disbursements and outstanding loan book, reflecting sustained demand for financing in the clean energy ecosystem and steady execution momentum through the year. Key Business Performance SnapshotParticularsDecember 31, 2025 (₹ crore)December 31, 2024 (₹ crore)GrowthLoan Sanctioned40,10031,08729%Loan Disbursements24,90317,23644%Loan Book Outstanding87,97568,96028%Lending...

Mumbai, January 1, 2026 – Sterling and Wilson Renewable Energy Limited (BSE: 542760 | NSE: SWSOLAR) has received a tax order amounting to approximately Rs 11.79 crore, including penalty and applicable interest as of date, related to the financial year April 2021 to March 2022.Details of the Order The order relates to a mismatch of input tax credit and a shortfall in taxes paid for the specified period. The communication was received by the company on December 31, 2025, while the order itself was issued on December 30, 2025.Financial Impact and Indemnity Coverage The company stated that the tax demand is partially covered under an indemnity agreement involving Reliance New Energy Limited, Shapoorji Pallonji and Co. Private Limited...

Ahmedabad, January 1, 2026: Adani Enterprises Limited (NSE: ADANIENT, BSE: 512599) has completed the acquisition of a 39 percent effective shareholding in Flight Simulation Technique Centre Private Limited, strengthening its presence in the fast-growing aviation services and pilot training segment. The transaction was executed on December 30, 2025, through Adani Defence Systems and Technologies Limited, a wholly owned subsidiary of Adani Enterprises, along with Horizon Aero Solutions Limited, a subsidiary entity in which Adani Defence Systems and Technologies Limited holds a 50 percent stake. Transaction Overview Flight Simulation Technique Centre Private Limited operates as a subsidiary of Flight Simulation Solutions Private Limited...

Mumbai, January 1, 2026: Bajaj Electricals Limited has informed stock exchanges that it has received an assessment order from the Commercial Tax Officer, Chennai Central, Tamil Nadu, raising an aggregate demand of Rs 936.38 lakh for the financial year 2018–19. The assessment order is dated December 31, 2025, and was received by the company on the same day at 16:02 hours. The demand has been raised on allegations of short payment of tax, including the disallowance of input tax credit claimed by the company during the relevant period. Demand BreakupParticularsAmount (Rs lakh)Tax292.05Interest352.28Penalty292.05Total Demand936.38Company Position Bajaj Electricals stated that its management is currently evaluating...

Mumbai, Jan 1, 2026 – Sunteck Realty Limited (NSE: SUNTECK | BSE: 512179) informed investors that the tax demand raised earlier by the Goods and Services Tax authorities has been fully nullified, providing a significant relief to the company.GST Order Decided in Favour of the Company The company said that an order dated December 31, 2025 has been passed after examining Sunteck Realty’s submissions in detail. Following this review, the authorities accepted the company’s contentions and set aside the entire demand raised earlier, including interest and penalty.The matter relates to a demand and show cause notice that had been communicated earlier in October 2025. With the latest order, the issue now stands conclusively resolved in...

Hyderabad, Jan 1, 2026 – Brightcom Group Limited closed December 2025 outlining a stabilisation-led transition phase, marking the end of a deliberate consolidation year and positioning the business for measured growth in the coming fiscal.December 2025 Corporate Update: Built for Continuity The company highlighted that FY2024–25 was approached as a year of stabilisation, with strategic focus placed on reinforcing core operations, restoring execution discipline, and maintaining profitability and resilience across business cycles. Management underscored that the operating framework has now been recalibrated following multiple internal and platform-level validations during the year.Brightcom noted that its operating model has evolved...

Mumbai, January 1, 2026 – YES BANK LIMITED (NSE: YESBANK, BSE: 532648) said it has received a consolidated order giving effect from tax authorities resulting in an income tax refund of about Rs 345 crore, including interest, relating to the assessment year 2016–17.Refund Determined After Appellate Orders The development follows the disposal of the bank’s appeals against earlier assessment, reassessment, and rectification actions for the said assessment year. Based on the appellate outcome, the computation statement issued on December 31, 2025, determined a refund of approximately Rs 345 crore. The bank said the portion of the refund to be recognised in its profit and loss statement exceeds the internal materiality threshold...

Chandigarh, January 1, 2026: SML Mahindra Limited (BSE: 505192, NSE: SMLMAH) reported a sharp improvement in vehicle sales for December 2025, with total volumes rising 67 percent year-on-year to 1,044 units, supported by strong demand across both cargo and passenger vehicle segments. December 2025 Sales Performance In December 2025, cargo vehicle sales climbed to 462 units compared with 262 units in the year-ago period, translating into a 76 percent increase. Passenger vehicle volumes rose 60 percent year-on-year to 582 units from 364 units.CategoryDecember 2025December 2024YoY ChangeCargo Vehicles462262+76%Passenger Vehicles582364+60%Total1,044626+67%April–December FY26 Sales Overview For the nine-month period from April...

Policy Rationalisation Aimed at Improving Ease of Doing Business The commerce ministry’s arm, the Directorate General of Foreign Trade, said on Wednesday that it has rolled out a series of trade facilitation measures in 2025, focusing on rationalisation of policies to support exporters and improve ease of doing business.According to an official statement, the initiatives are part of ongoing efforts to strengthen India’s trade facilitation ecosystem through timely issuance of authorisations and streamlined policy frameworks.New Authorisations and Import Policy Adjustments As part of the measures, the DGFT launched the Diamond Imprest Authorization to support the gems and jewellery sector. It also extended the free import policy for...

Platforms Step Up Payouts to Ensure Service Continuity Food delivery platforms Zomato and Swiggy have rolled out higher incentives for delivery partners to ensure uninterrupted services on New Year’s Eve, even as gig workers’ unions have called for a nationwide strike on December 31.The move follows the platforms’ usual practice during festive and high demand periods, when order volumes peak and rider availability becomes critical.Strike Call May Impact Food Delivery and Quick Commerce Operations Gig workers’ unions have indicated that the strike could affect operations across food delivery and quick commerce platforms including Blinkit, Instamart and Zepto.According to union statements, a large number of delivery and app based...

EV Tax Incentive to Continue Under State Motor Vehicles Law Tamil Nadu Industries Minister TRB Rajaa has said that the state will continue providing a full exemption from motor vehicle tax for battery operated vehicles until December 31, 2027. The extension will be implemented under the Tamil Nadu Motor Vehicles Taxation Act, 1974.The minister shared the official government notification confirming that the exemption applies to all battery operated vehicles, covering both transport and non transport categories.Decision Reinforces State Support for EV Adoption According to Rajaa, the decision taken by Chief Minister M K Stalin strengthens the state government’s commitment to electric vehicle adoption, affordability, and large scale...

Mumbai, December 31, 2025: Transworld Shipping Lines Limited (BSE: 520151 | NSE: TRANSWORLD) has completed the acquisition of 100 percent of the paid-up equity share capital of Transworld Logistics Private Limited on December 31, 2025. Following the completion, Transworld Logistics Private Limited has become a wholly owned subsidiary of the company with effect from the same date. The company further informed that the acquisition relating to one of the sellers of Transworld Integrated Logistek Private Limited is currently under process and is expected to be completed on or before January 31, 2026. There is no change in the structure, consideration, or other key terms of the acquisition as previously disclosed. Acquisition StatusTarget...

Mumbai, December 31, 2025: Vodafone Idea Limited (NSE: IDEA, BSE: 532822) has received an order under the Goods and Services Tax framework, confirming a penalty of ₹6.78 crore along with applicable tax demand and interest. The company has stated that it does not agree with the order and will initiate appropriate legal action. Details of the GST Order The order has been issued by the Office of the Additional Commissioner, Secunderabad jurisdiction in Hyderabad, Telangana. It pertains to alleged excess claim of input tax credit by the company for the financial year 2021 to 2022. Key particulars of the orderParticularsDetailsAuthorityOffice of the Additional Commissioner, Secunderabad, Hyderabad, TelanganaNature of actionOrder...

Mumbai, December 31, 2025 ICICI Bank Limited has received a Goods and Services Tax demand order amounting to ₹16.03 crore from the Deputy Commissioner of Revenue, West Bengal, relating to services provided to customers maintaining specified minimum balances in their accounts.According to the disclosure, the order was received on December 30, 2025 at 06:01 p.m., raising a total demand of ₹16,03,30,178. The demand comprises tax of ₹8,67,57,468, interest of ₹6,48,96,963, and penalty of ₹86,75,747 for the same subject matter that had earlier been flagged through a show cause notice.Background of the Matter The bank had earlier informed stock exchanges on September 23, 2025 about the receipt of a show cause notice from the West Bengal...