Author: Abizar Attari
News Editor

Mumbai: UltraTech Cement has reported a 27% year on year rise in net profits to ₹1,729.4 crore in Q3FY26, on the back of sustained cement sales, beating market expectations.  The company delivered this performance despite challenges, including a shortage of sand across the country and the ₹ 88 crore one-time provisions to meet gratuity and leave liabilities, in compliance with India’s new labour laws.  For the quarter, consolidated cement sales volumes had recorded a growth of 15% year on year, slightly below analysts’ expectations of 19-21%. Despite this, net sales increased 23% YoY to ₹21,506 crore from ₹17,555 crore in…

New Delhi: DLF Ltd has announced the launch of its first senior living residential project in Gurugram worth ₹2,000 crore, after almost 3 months of not announcing any new projects. To be developed in phases, the project will have an age-friendly design, community living and healthcare access, to meet the demand from India’s rapidly ageing high net worth retirees. This comes after months of recording a steep fall in sales bookings to ₹419 crore in Q3FY26, from ₹12,039 crore reported a year ago. The company’s ultra luxury, 17 acre The Dahlias project at DLF Phase 5 in Gurugram has seen…

New Delhi: The Competition Commission of India (CCI), in a leaked report, has shown how four leading steel companies, Tata Steel, JSW Steel, SAIL and RINL, have colluded to control prices and supply in the domestic steel markets between 2018 and 2023.  In the report seen by Reuters, has reviewed dozens of WhatsApp groups, named  “Steel Live Market” , “Friends of Steel” and “Tycoons” that have been used to share sales and production patterns, price changes and other changes with representatives from these companies. The case opened in 2021, with the companies being asked to submit their financial details and…

Mumbai: Adani Enterprises has refuted allegations made in a Bloomberg report that the US Securities and Exchange Commission (SEC) has tried (and failed) to issue summonses to Gautam Adani and his nephew Sagar Adani for a bribery scheme using capital raised in America. In a series of rebuttals made by its various subsidiaries, Adani Enterprises has said that it isn’t a party involved in any US legal proceedings as alleged in the report. “There are no allegations made against the Company in, and the Company is not party to, these proceedings,” the press releases by the Adani subsidiaries to the…

Mumbai: Gandhar Oil Refinery (India) has reported a healthy year-on-year(YoY) growth in revenue, which rose from ₹1,005.3 crore in Q3 FY25 to ₹ 1,167 this time. Along with this, the Profit After Tax (PAT) increased 68% YoY to ₹34 crore from ₹20.4 crore as the company chose to focus on the high-margin Pharmaceutical, Health-Care and Performance Oil (PHPO) product segment. In fact, PHPO commanded almost 50% of its 9M revenues for FY25-26, followed by lubricants at 26.80%, PIO at 9.50% and channel partners at 13.70%. The company’s consolidated EBITDA for Q3 FY26 rose to ₹59.1 crore from ₹41.6 crore, a…

Mumbai: Karur Vysya Bank has delivered a 20% quarter-on-quarter (QoQ) rise in consolidated net profit for Q3 FY26, driven by stronger operating leverage, delighting its investors. These results reflected stronger core banking performances as the bank’s Net Interest Margin (NIM) falls 22 bps due to a ₹139 crore write off made in the previous quarter. The surge in quarterly profits has been driven by a higher net interest income, healthy fee income growth and disciplined management, who helped offset the challenges from the NIM decline. The bank’s Current Account Savings Account (CASA) deposit growth increased by 16% year on year,…

New Delhi: Auto Components maker Sona Comstar, also known as Sona BLW Precision Forgings Ltd, has reported strong quarterly results on the back of strong growth in its electric vehicle traction motor and railways businesses. The company saw its revenues rise 39% year on year (YoY) to Rs. 1,209 crores, with its EBITDA growing at 30% to Rs. 305 crores. The company’s adjusted PAT was at Rs. 181 crores, with a net profit margin of 14.9%, even as the company had to make provisions for one-time expenses. Despite revenues from its battery EV sector being lower by 14.4% YoY for…

For musicians, AI can remove friction, reduce costs, and boost scale AI remains a tool for some, a cheatcode for others. Students and aspiring creators have long used AI tools as a shortcut to get quick, agreeable results, many of which depend on previously fed creative data that the chatbot mixes and spits out. Those in the creative industries, many of whom have spent years fine tuning their craft, have been up in arms against such tools, alleging that their work is being misused without permission. Sourabh Pateriya, Founder and CEO of Soundverse AI, agrees. “Fairness starts with agency and…

New Delhi: SG Mart Ltd, a B2B marketplace focused on construction and industrial materials, has reported a steep 62% year on year (YoY) drop in consolidated net profit for Q3FY26 as demand for steel products, which form a core part of its business, weakened during the quarter. According to the company, it witnessed a decline in profits despite revenues reaching Rs.164 crore, an increase of 23% YoY. Besides softer demand, lower steel prices also affected margins, impacting its earnings. SG Mart, which offers almost 6,500 SKUs for various construction commodities, has construction steel products like HR Sheets, Welding Rods, TMT…

New Delhi: Paradeep Parivahan Limited has entered into a long-term agreement with UltraTech Cement to deploy electric trucks at the cement major’s Rajasthan and Uttar Pradesh facilities. This marks a significant shift towards decarbonising logistics in India, helping to reduce 15,000-20,000 tonnes of CO₂ emissions over the eight-year agreement. Paradeep Parivahan, specialising in bulk freight and industrial transport, will replace its fossil fuel-based vehicles with EV trucks to enable cleaner freight movement and enhance sustainability across the logistics value chain. Paradeep Parivahan is partnering with Energy In Motion Ltd for charging infrastructure, operational support and battery swapping solutions for the…