Author: Abizar Attari

Mumbai, October 20: Adani Airport Holdings Limited (AAHL), which operates both the existing Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai as well as the new Navi Mumbai International Airport (NMIA) in Navi Mumbai, has been up in arms with airlines over shifting operations to the latter following renovations for Terminal 1 at CSMIA. AAHL has directed airlines to shift almost one third of international departures to NMIA as Terminal 1 will be renovated until 2030. This capacity rebalancing involves demolition and phased reconstruction of Terminal 1B of the airport, which currently handles about 5 million passengers annually, with domestic…

Mumbai, October 20: India’s largest telecommunications firm, Jio Platforms Limited, is all set to launch its initial public offering (IPO) on October 21, 2026. According to the Draft Red Herring Prospectus (DHRP) filed with SEBI, the Reliance Industries Limited (RIL) subsidiary will issue 27 crore equity shares for the public issue. These are valued at ₹30,187 crore (about $3.6 billion), making it the largest public issue in the history of the Indian stock market. The IPO will run for three days and close on October 23, 2026. Retail investors can bid for a minimum lot size of 12 shares with…

Mumbai, October 19: Advanced display solutions manufacturer Highness Microelectronics Limited has commissioned a new glass cutting line at its manufacturing plant in Navi Mumbai, as it looks to strengthen its in-house production capabilities. With commercial production beginning on October 19, the line comes with an installed capacity of 300 glass units per day, allowing it to produce custom TFT-LCD Open Cell glass to make specialized display applications for information systems and display solutions. The newly inaugurated line comes with a semi automatic glass resizing and cutting machine equipped with a camera based measurement and positioning technology, allowing Highness Microelectronics to…

Key Takeaways India’s dairy market presents an unusual paradox. According to government data, India produced 247.87 million tonnes of milk in 2024-25, more than any other nation. But scale alone does not guarantee attractive economics for processors. Raw milk prices fluctuate, refrigeration and transportation are expensive, products are perishable, and competition ranges from powerful cooperatives to regional dairies and multinational food companies. It is against this backdrop that Milky Mist Dairy Food entered the public markets. The company’s ₹1,553 crore IPO comprised a ₹1,428 crore fresh issue and a ₹125 crore offer for sale. Shares were issued at ₹140 and…

New Delhi, October 17: Synthetic textile manufacturer Indo Rama Synthetics (India) Limited will be spending ₹200 crore to expand its manufacturing capacity for specialty filaments and specialty fibres, in line with demand trends. This expansion will be done at the company’s existing facility in Butlibori, Nagpur, with commercial operations expected to launch within the next 12 to 18 months. The company’s Board of Directors have approved the expansion proposal on October 16 with the investment being funded with a combination of term loans and internal cash accruals. The investment will be implemented jointly by Indo Rama Synthetics and its wholly…

Mumbai, October 16: Luxury property developer Oberoi Realty has reported a flat consolidated net profit of ₹761 crore for the quarter ended September 2026 as against the ₹760.26 crore reported during the same period last year. This year on year (YoY) drop in net profit came as the company witnessed a 6.1% drop in revenue from operations to ₹1,670.95 crore from ₹1,779.04 crore reported last year, as the company struggled with revenue realisations though it has witnessed strong property demand. For Q2 FY27, the company’s gross booking value reached ₹9,149.69 crore, but realised only ₹1,233.10 crore as revenue, as the…

New Delhi, October 16: Global auto component supplier Varroc Engineering Limited’s board has announced the acquisition of a 45% stake in Forsee Power’s Indian subsidiary as it looks to strengthen its presence in advanced battery pack solutions. The deal, rumored to be valued at €4.5 million, offers a significant opportunity to build a scalable, cost-effective, and application-specific solution aimed at supporting electric vehicle manufacturing Original Equipment Manufacturers (OEMs). Foresee Power India brings with it established expertise in battery pack technology and systems with Varroc offering automotive engineering capabilities and established OEM relationships. By embedding battery engineering and assembly capabilities through…

Mumbai, October 16: Consumer Electricals major Crompton Greaves reported a strong, 18.4% year on year (YoY) growth in revenue from operations for Q2 FY27, reaching ₹1,932 crore. Along with this, the company’s profit after tax (PAT) has also risen to ₹110 crore, a 57% YoY rise from ₹70 crore witnessed during the same time last year. This strong performance has come as the company has witnessed double digit sales expansion across key categories, including pumps, kitchen appliances, water heaters and solar rooftop installations. This represents the highest quarterly growth in the last nine quarters, backed by an improved product portfolio…

New Delhi, October 15: Busting the controversies around the validity of India’s economic performance, the International Monetary Fund (IMF) has endorsed the country’s GDP calculation, saying it remains consistent with international standards. This validation comes as the government has published data claiming a 7.8% GDP growth rate for the first quarter of the financial year 2026-27. These discussions on the change in calculation methodology follow the authorities’ shift in the reference point for measuring economic change, moving the base year from 2011-12 to 2022-23. This revision is needed to periodically reflect the changes in economic activity and to factor in…

New Delhi, October 15: The Cabinet Committee on Economic Affairs (CCEA) has approved Prem Watsa-led Fairfax Financial Holdings’ bid to acquire a 60.72% controlling stake in IDBI Bank for ₹52,878 crore ($5.56 billion). Under the terms, Fairfax will acquire a majority stake at a bid price of ₹81 per share, higher than the ₹75.99 benchmark determined by two independent valuation agencies, an official statement said.  This divestment involves a 30.48% stake sale by the Government of India while the LIC will sell another 30.24% in the bank. After the deal, both entities will be left with about 34% in the…