The Government of India has appointed N S Raja Subramani as the country’s new Chief of Defence Staff (CDS), according to a report by ANI on Saturday. Lieutenant General Subramani (Retd.) will also serve as the Secretary of the Department of Military Affairs under the Ministry of Defence from the date he assumes charge and until further orders. The appointment comes as the incumbent CDS, Anil Chauhan, is scheduled to complete his tenure on May 30, 2026. Lt Gen Subramani is currently serving as the Military Adviser at the National Security Council Secretariat, a position he has held since September…
Author: Adarsh Kumar
Hyundai Motor India (HMIL) reported a 22.2% decline in consolidated net profit for the fourth quarter of FY26, as higher operating expenses weighed on earnings despite steady revenue growth. According to the company’s regulatory filing, consolidated profit after tax (PAT) stood at ₹1,255.63 crore for the quarter ended March 2026, compared to ₹1,614.35 crore in the corresponding period last year. However, the company’s revenue from operations increased to ₹18,916.15 crore during the quarter, up from ₹17,940.28 crore in Q4 FY25. The decline in profitability came as total expenses rose sharply to ₹17,571.66 crore, compared to ₹15,974.46 crore in the year-ago…
India’s microfinance sector recorded its first quarterly expansion after eight consecutive quarters of decline, signalling early signs of stabilisation in the industry amid improving asset quality and stronger loan disbursements. According to a report by CRIF High Mark, the sector’s gross loan portfolio (GLP) grew 3.2% quarter-on-quarter to ₹3.31 trillion in Q4FY26. However, on a year-on-year basis, the portfolio remained lower by 13.2%. The recovery was driven by higher loan originations, rising ticket sizes, and gradual improvement in portfolio quality across lenders. Among lenders, NBFC-MFIs continued to remain the primary growth drivers for the sector, while the share of banks…
State Bank of India (SBI), the country’s largest lender, reported a 5.6% year-on-year increase in standalone net profit to ₹19,684 crore for the quarter ended March 2026, supported by improved asset quality and lower bad loans. The bank had posted a standalone profit of ₹18,643 crore in the corresponding quarter of FY25. However, the earnings fell short of market expectations, leading to a sharp reaction in the stock market. Following the results announcement, SBI shares declined nearly 6%, trading around ₹1,027.5 on the BSE Limited. Despite profit growth, the bank’s total income declined to ₹1,40,412 crore during the March quarter,…
Indian conglomerates Tata Group and JSW Group are planning to invest nearly $1 billion collectively to build domestic expertise in electric vehicle (EV) and battery technologies, as Indian companies accelerate efforts to reduce dependence on Chinese technology and supply chains. According to people familiar with the matter, both groups are separately establishing advanced research and development facilities focused on next-generation battery systems, EV software, and localization of critical technologies. The investments come at a time when China, the world’s largest EV and battery ecosystem, has become increasingly cautious about transferring advanced battery technologies amid rising geopolitical tensions and the ongoing…
State-owned Bank of India reported a 15% year-on-year rise in net profit to ₹3,016 crore for the fourth quarter ended March 2026, supported by stronger interest income growth and improving asset quality. The bank’s net interest income (NII) increased 11% to ₹6,730 crore in Q4 FY26, compared to ₹6,063 crore in the corresponding quarter last year. Provisions for bad loans declined 10% year-on-year to ₹1,211 crore, helping improve profitability during the quarter. However, the bank’s net interest margin (NIM) moderated slightly to 2.58%, compared to 2.61% a year ago, although it improved marginally from 2.57% in the previous quarter. Non-interest…
The Rajasthan government has approved investment proposals worth more than ₹2,200 crore across the automobile and textile sectors, as the state intensifies efforts to strengthen industrial development and employment generation. The approvals were cleared by the State Empowered Committee during a meeting chaired by Chief Secretary V Srinivas in Jaipur. According to a senior official from the Industries Department, the proposed investments are expected to create employment opportunities for over 1,600 people once the projects are implemented on the ground. The investment push reflects Rajasthan’s broader strategy to attract manufacturing-led growth across sectors such as automobiles, textiles, renewable energy, and…
Swiggy reported a strong rise in revenue during the fourth quarter of FY26, as growth across food delivery, logistics, and quick commerce businesses helped the company narrow its quarterly losses. According to its quarterly financial results, Swiggy’s revenue from operations increased 44.7% year-on-year to ₹6,383 crore in Q4 FY26, compared to ₹4,410 crore in the same quarter last year. At the same time, the company reduced its quarterly losses by 26% to ₹800 crore, down from ₹1,081 crore in Q4 FY25. For the full fiscal year FY26, Swiggy’s operating revenue rose 51% year-on-year to ₹23,052 crore. However, annual losses widened…
Urban Company reported strong revenue growth in the fourth quarter of FY26, but the company’s aggressive expansion into quick service housekeeping through InstaHelp significantly widened losses during the period. According to its unaudited quarterly financial results sourced from the National Stock Exchange of India (NSE), Urban Company’s revenue from operations grew 43% year-on-year to ₹425.56 crore in Q4 FY26, compared to ₹298.45 crore in the corresponding quarter last year. However, the company’s losses ballooned to ₹99.86 crore during the quarter, largely driven by investments in its newly launched InstaHelp business. The company’s core India Consumer Services segment, excluding InstaHelp, remained…
Tata Power and Bhutan’s Druk Green Power Corporation (DGPC) have expanded their clean energy collaboration with the addition of a 404 MW hydropower project in Bhutan, taking the total planned capacity under the partnership to 5,033 MW. The two companies signed an amendment to their existing Memorandum of Understanding (MoU), originally signed on November 19, 2024, under which they had agreed to jointly develop at least 4,500 MW of hydropower projects in Bhutan. Under the revised agreement, the Nyera Amari I & II Integrated Hydropower Project (404 MW) has now been added to the project pipeline. The development aligns with…