HINDUJA GROUP
Hinduja Group to invest Rs 7,500 crore in Tamil Nadu's EV ecosystem: CM Stalin
Tamil Nadu secured significant investments. Chief Minister MK Stalin announced that the Hinduja Group will invest Rs 7500 crore in the state's electric vehicles sector. This will create over 1,000 jobs. The TN Rising initiative has secured Rs 15,516 crore in investment proposals. These investments will generate 17,613 jobs. Stalin also signed MoUs with Wilson Power and Britannia RFID.
GST 2.0 to unleash consumption, cushion India's economy from US tariff headwinds: India Inc
Industry leaders believe that GST rate rationalization will boost India's economic growth. They expect increased consumption and a cushion against global headwinds. The GST Council approved rate changes, effective September 22. Business leaders like Ashok Hinduja and Anand Mahindra support the reforms. FICCI and CII anticipate improved compliance and consumer benefits.
Exemption of GST from life and health insurance premium to make products affordable: Insurers
The GST Council's landmark decision to exempt insurance premiums from GST is poised to revolutionize the insurance sector. Insurers hail this move as a game-changer, anticipating increased affordability and wider insurance penetration. This exemption, covering life and health insurance, aims to ease financial burdens and promote health security for citizens, potentially driving a shift towards accessible digital solutions.
As tensions wind down, Sino-Indian tieups put buzziness back in business
Following the recent meeting between Modi and Xi, Indian and Chinese companies are actively pursuing joint ventures in sectors like electronics and automobiles. Haier's stake sale in its Indian subsidiary is gaining momentum, while Dixon Technologies anticipates approvals for joint ventures. The auto sector expects eased import restrictions, fostering a positive sentiment among Chinese companies towards India.
Invesco Mutual Fund gets Sebi nod for 60% stake transfer to IIHL
Invesco Mutual Fund has received market regulator Sebi approval to transfer a controlling 60 per cent stake to IndusInd International Holdings Ltd (IIHL), according to sources.
Ashok Leyland to invest Rs 5,000 for making batteries in India, partners with China's CALB
Ashok Leyland has partnered with China's CALB Group to develop and manufacture next-generation batteries, investing Rs 5000 crores. This exclusive partnership aims to establish a localized battery supply chain in India, promoting electric vehicle adoption and reducing reliance on fossil fuels. The agreement was signed by key executives from both companies, marking a significant step for Ashok Leyland.
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IndusInd Bank shareholders reject promoters' proposal to induct nominee directors
IndusInd Bank shareholders rejected a resolution allowing the Hinduja Group to appoint two nominee directors, with 54% voting against it. Despite prior approvals from the RBI and the bank's board, concerns raised by proxy advisors led to the proposal's defeat.
Ashok Leyland Q1 Results: Net profit jumps 13% to Rs 594 crore; revenue up 1.5%
Ashok Leyland posted a standalone net profit of Rs 593.73 crore for Q1 FY26, up 13% YoY, on revenue of Rs 8,724.51 crore, a 1.5% rise. Consolidated net profit attributable to owners rose 20% YoY to Rs 611.07 crore. The company saw record Q1 commercial vehicle volumes, improved margins, and strong contributions from core and export businesses.
Mumbai Police launches probe into IndusInd accounting lapses
Mumbai Police initiated a preliminary enquiry into IndusInd Bank following allegations of financial irregularities by former key managerial personnel. The investigation, handled by the Economic Offences Wing, focuses on wrongly booked profits and potential insider trading before the disclosure of accounting lapses in the derivatives portfolio.
Hinduja Group appoints Anand Agarwal as Group President - Finance
Hinduja Group has appointed Anand Agarwal as Group President - Finance, effective August 1, 2025. Agarwal brings nearly three decades of experience across diverse sectors. His expertise in corporate finance, treasury, and M&A will be crucial as the Group enters a phase of strategic expansion, according to Amit Chincholikar, Group President- HR.
Tata Motors' Iveco takeover to fuel global CV ambitions but not without risks
Tata Motors offer is aimed at acquiring 100% of Iveco's common shares with a subsequent delisting of Iveco Group from the Euronext Milan stock exchange. The all-cash offer valued Iveco at about Rs 3.8 billion ($4.4 billion). Both companies believe that having Iveco operate as a wholly-owned unit of the Mumbai-based automaker is crucial for its sustainable success and long-term value creation. Iveco has a diversified business with 74% of revenues from Europe and the rest from South America, Africa, and Oceania.
Banking licence for conglomerates not on cards, says RBI Guv Sanjay Malhotra
RBI Governor Sanjay Malhotra expressed concerns about granting banking licenses to conglomerates due to potential conflicts of interest involving depositors' funds. He emphasized that ensuring price stability remains the central bank's primary goal. Malhotra clarified that there are no current proposals to allow corporate entities to obtain banking licenses, whether through NBFCs or as individual companies.
IndusInd Bank to raise Rs 30,000 crore through equity and debt instruments
IndusInd Bank's board has approved raising up to Rs 30,000 crore through equity and debt instruments. The RBI has allowed the Hinduja Group, the bank's promoter, to nominate two directors to the board. This decision follows a period of crisis for the bank, marked by accounting anomalies and a CEO exit.
Hinduja Group eyes strategic investments in EVs, energy and banking in Uttar Pradesh
The Hinduja Group is eager to invest in Uttar Pradesh's EV, energy, and banking sectors, as discussed in a recent meeting. Ashok Leyland's Lucknow electric bus facility is nearing commercial production, while Gulf Oil aims to establish a robust EV charging network across the state.
Hinduja Group needs DPIIT nod, too, for Reliance Capital buy
The Hinduja Group got approval from the Reserve Bank of India to buy Reliance Capital. The deal still needs a green light from the Department for Promotion of Industry and Internal Trade. The Hinduja Group secured funding for the acquisition. The group raised ₹3,000 crore by issuing debentures and planned to raise another ₹4,300 crore.
Hinduja Group starts bond sale process to fund Reliance Capital buy
Barclays Plc and 360 ONE have been appointed as arrangers and underwriters for the issuance, according to sources who requested anonymity due to the private nature of the discussions. The arrangers began the syndication process last week to attract investors, and the deal is expected to be finalised within a month.
I-T dept conducts survey at Hinduja Global Solutions
Hinduja Group owns IndusInd Bank, Hinduja Leyland Finance and Hinduja Bank (Switzerland). The group is currently diversifying and is readying plans to make forays into new tech, digital and fintech.
Hinduja Group's headquarters in Mumbai to get a makeover
The group, which employs over 200,000 people, is looking to complete the redevelopment of this property over the next 3-4 years.The ground plus five-storey property overlooking the Arabian Sea was built by the group in the 1980s. Prior to that, the group's headquarters were located in Iran. Hinduja House occupies a nearly half-an-acre prime land parcel next to the National Sports Complex of India and Nehru Science Centre.
YES Bank drops 4%, recovers as Hinduja Group looks to pick up stake
Hinduja Group is partnering with Cerberus Capital Management LP to pick up a stake in the bank.
Quaker listing to bring bonanza for Hinduja Group
The Hinduja Group will also receive additional cash of $171 million.
Hinduja Group acquires London’s Old War Office building; to redevelop into 5-star hotel
The building is located at 57, Whitehall, close to the British Parliament and the Prime Minister’s residence spread over 580,000 sq ft.
Gammon India in talks with Hinduja Group to sell EPC division
Gammon India entered the CDR package by lenders in September 2013 and has made several efforts to sell assets to pare down its massive debt pile of Rs 13,000 crore.
Hinduja Group sells 4.7 lakh IndusInd Bank scrips to group entity
Hinduja Group Ltd today sold 4.70 lakh shares of private sector lender IndusInd Bank to another group entity Hinduja Ventures for Rs 21.15 crore.
Hinduja Group's lubricant plant commissioned in UAE
A lubricant manufacturing plant and grease processing unit, jointly set up by the Hinduja Group and the government in UAE's Ras Al Khaimah emirate.
Hinduja Group in pact with Spanish co OHL for infra projects
Multi-billion dollar conglomerate Hinduja Group today signed an agreement with Spanish construction multinational OHL for joint development of infrastructure projects in India and other countries.
ONGC extends pact with Hinduja Group for sourcing LNG
Oil and Natural Gas Corp has extended pact with Hinduja Group for sourcing of liquefied natural gas from Iran and other Middle East nations by one more year.
Hinduja Group to foray into aerospace business
The Hinduja Group today said it is keen to venture into the aerospace business and will make an announcement over the next three months.
Luxembourg blocks sale of Belgium bank's arm to Hindujas
Luxembourg regulator, CSSF has blocked sale of the private banking unit of Belgium's KBC Bank to Hinduja group, putting hurdles in the Indian business house's ambitious global plan for financial services.
Hinduja Group looking at bidding for Satyam
Conglomerate Hinduja Group on Monday said it is looking at bidding for Satyam Computer Services but yet to take a decision.
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