India

Lodha Developers, a leading player in India’s real estate sector, reported a 10% year-on-year increase in sales bookings, reaching Rs. 4,450 crore in the first quarter of fiscal 2025-26. Despite geopolitical tensions causing a brief disruption in market activity, the company remains confident about achieving its annual sales target of Rs. 21,000 crore. Bolstered by a robust project launch pipeline and strong housing demand, Lodha is poised to sustain growth momentum through the fiscal year, underscoring its resilient market position and strategic business development efforts.

Siemens Energy India Ltd (SEIL), freshly independent following its demerger from Siemens Ltd, posted a robust 36.3% increase in net profit to Rs. 246.1 crore in Q4 FY25. Revenues jumped to Rs. 1,893.9 crore, fueled by substantial gains in transmission and generation segments. Despite higher operating costs, the company sustained strong margins driven by healthy demand across its power business. Now a pure-play energy technology firm, SEIL is strategically aligned to support India’s ambitious energy infrastructure goals as the country accelerates toward a $7 trillion economy.

Castrol India Ltd has appointed Mrinalini Srinivasan as its new Chief Financial Officer (CFO), effective July 28, 2025, marking a significant leadership transition at the lubricants giant. With over 17 years of multinational finance experience at Procter & Gamble across Asia, the Middle East, and Africa, Srinivasan will be responsible for overseeing the company’s financial operations and supporting long-term strategic growth. She succeeds Deepesh Baxi, who exited the role in March 2025.

Travel Food Services Ltd’s initial public offering (IPO) commenced on a cautious note, securing approximately 10% subscription on its first day. The Rs 2,000 crore offer, entirely an offer-for-sale (OFS) by the promoter Kapur Family Trust, attracted bids for 13.9 lakh shares against the 1.34 crore shares on offer. While retail investors showed relatively higher interest with 14% subscription, qualified institutional buyers and non-institutional investors lagged behind at 7% and 6%, respectively.

Smarten Power System, a homegrown manufacturer of solar and power backup solutions, is set to raise Rs. 50 crore through its initial public offering (IPO) scheduled from July 7 to July 9. Priced at Rs. 100 per share, the IPO comprises a fresh issue of Rs. 40.01 crore and an offer for sale worth Rs. 10 crore. The proceeds will be deployed toward production line upgrades, working capital, debt repayment, and strategic capital expenditure.

Safex Chemicals (India) Ltd., a prominent player in India’s specialty chemicals and agrochemical industry, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), seeking approval for an initial public offering (IPO). The IPO comprises a fresh issue of shares worth Rs. 450 crore and an offer for sale (OFS) of 35.73 million equity shares by promoters and investors. The funds will primarily be allocated toward debt reduction and general corporate purposes.

Dabur India Ltd, a stalwart in the FMCG sector, anticipates modest revenue growth in the June quarter, tempered primarily by a decline in beverage sales due to unseasonal rains and a shortened summer season. While overall operating profit is expected to slightly trail revenue growth, the home and personal care (HPC) division, led by strong performances from brands like Dabur Red, Odonil, and Gulabari, demonstrates robust expansion. International markets continue to fuel growth with double-digit gains.

Reliance Retail Ventures Ltd (RRVL) has strategically acquired a minority stake in UK-based FACEGYM, signaling its foray into the burgeoning facial fitness and skincare sector in India. This partnership seeks to blend FACEGYM’s innovative non-invasive facial workouts with Reliance’s omnichannel beauty platform, Tira, to create standalone studios and curated retail spaces in key Indian metros over the next five years.

In response to the State Bank of India’s recent classification of Reliance Communications’ (RCom) loan account as “fraud,” two other Anil Dhirubhai Ambani Group (ADAG) companies—Reliance Infrastructure and Reliance Power—have issued formal statements distancing themselves from the development. The companies emphasized that they are independent, publicly listed entities with no financial or operational ties to RCom, nor to its erstwhile director Anil Ambani.

Muthoot FinCorp Ltd, a leading gold loan financier, announced a Rs 290 crore fund-raising initiative through secured and redeemable non-convertible debentures (NCDs). The tranche VI NCD issue, open for subscription until July 17, 2025, offers flexible tenure options ranging from 24 to 72 months and various interest payout modes, with effective yields between 9.2% and 9.8% per annum.