Business

Akme Fintrade reported a solid performance for the second quarter, delivering a 23% year-on-year increase in net profit to Rs 10 crore, indicating sustained momentum in its lending operations. The non-banking financial company (NBFC), which focuses on retail and small-business financing, benefited from improved asset quality, expanding loan demand, and disciplined cost management. The company’s results reflect the broader resilience seen across India’s credit ecosystem, where diversified lenders are experiencing steady demand despite evolving macroeconomic challenges.

Sharat Industries Ltd. reported a strong second-quarter performance with profit rising 54% to Rs 5.74 crore, supported by resilient demand, improved operating efficiencies, and steady margins across its product segments. The company demonstrated notable financial momentum despite a challenging macroeconomic backdrop, as robust execution and disciplined cost management helped elevate profitability. The improved quarterly results signal strengthening fundamentals within the aquaculture and allied processing sector, where Sharat Industries maintains a significant presence.

In a strategic move to strengthen its footprint in India’s rapidly expanding men’s grooming market, Godrej Consumer Products Ltd (GCPL) has acquired Muuchstac, a rising homegrown brand, for Rs 450 crore. The acquisition marks a significant step in GCPL’s portfolio diversification strategy, enhancing its presence across high-growth personal care categories.

In a development that underscores the intricate power dynamics within one of India’s most influential philanthropic and corporate institutions, Tata Trusts is reportedly witnessing an internal tussle over governance and leadership roles. The focus has shifted to Noel Tata and Ratan Tata’s foster son, with emerging indications of differing visions for the Trusts’ future. As the organization—central to the control of Tata Sons—undergoes leadership transitions and strategic realignment, this unfolding boardroom drama has drawn attention across India’s corporate circles.

The National Company Law Tribunal (NCLT) has reserved its verdict on Vedanta Limited’s ambitious demerger proposal, which seeks to restructure the conglomerate into multiple independent entities. The move, aimed at unlocking shareholder value and enhancing operational focus, represents one of India’s most significant corporate reorganizations in recent years. Once approved, the demerger will reshape the company’s vast portfolio across natural resources, energy, metals, and semiconductor businesses.

The Government of Maharashtra has announced a new incentive scheme aimed at modernizing the state’s sugar industry and enhancing its contribution to ethanol production under India’s biofuel expansion plan. The initiative focuses on encouraging sugar mills to improve operational efficiency, adopt sustainable practices, and increase ethanol output to strengthen the agricultural economy. The scheme includes a range of fiscal benefits and policy support designed to stabilize the sugar sector, which plays a critical role in rural employment and the state’s agro-industrial growth.

In a significant step toward advancing India’s defence manufacturing ecosystem, Lockheed Martin has reaffirmed its long-term commitment to expanding local partnerships and technology collaborations under the country’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. The U.S. aerospace and defence major is deepening cooperation with Indian industry to strengthen indigenous production, co-development of advanced platforms, and supply-chain integration.

India’s youngest airline, Akasa Air, is preparing to commence international operations from Delhi, marking a pivotal milestone in its rapid expansion journey. Following its successful debut on international routes from Mumbai, the airline now plans to connect the national capital with key destinations in the Middle East and Southeast Asia. The move underscores Akasa’s strategy to evolve from a domestic low-cost carrier into a globally competitive player, leveraging India’s growing air travel demand and expanding aviation infrastructure.

India’s Tea Board has introduced a comprehensive framework of food safety and sustainability standards aimed at enhancing the quality, traceability, and environmental compliance of Indian tea. The new measures align domestic production with international benchmarks such as those set by the Food Safety and Standards Authority of India (FSSAI) and the United Nations Sustainable Development Goals (SDGs).

Panasonic India’s long-serving Chairman, Manish Sharma, has resigned after nearly two decades with the Japanese electronics giant, marking the end of a transformative leadership phase. During his tenure, Sharma played a pivotal role in deepening Panasonic’s manufacturing footprint in India, driving localization, and strengthening its alignment with the government’s Make in India initiative. Following his exit, Tadashi Chiba, currently the Managing Director of Panasonic Life Solutions India, will assume the chairman’s role.