Company News

Rapido has raised USD 240 million in a fresh funding round led by Dutch investment firm Prosus, strengthening the company’s position in India’s rapidly evolving mobility market. Existing investors including WestBridge Capital and Accel also participated in the financing round. The investment values Rapido at USD 3 billion on a post-money basis and takes its cumulative funding to approximately USD 730 million.

Jio Platforms has appointed Akash Ambani as managing director for a five-year term, a strategic leadership move that comes as the company prepares for a highly anticipated initial public offering. According to a regulatory filing, the appointment became effective on April 9, 2026. Industry observers view the decision as part of a broader succession and expansion strategy within the Reliance Group’s digital business empire.

LIC Housing Finance reported a slight moderation in its net interest margin during the fourth quarter of FY26, reflecting ongoing pressure on lending spreads within India’s competitive housing finance sector. The company’s Net Interest Margin (NIM) declined to 2.80 percent from 2.85 percent a year earlier. Despite the margin compression, the lender successfully reduced overall expenses, highlighting a continued emphasis on operational efficiency and cost optimization.

Ola Electric is reportedly in discussions with multiple domestic and international automobile manufacturers to supply lithium-ion battery cells and battery packs from its Krishnagiri gigafactory, signaling a strategic shift beyond its in-house electric scooter business. The Bengaluru-based company currently operates India’s only active gigafactory with an installed capacity of 6 GWh and has commercially deployed its proprietary 4680-format Bharat Cell at scale through its subsidiary Ola Cell Technologies.

Akasa Air will commence operations from Noida International Airport starting June 16, becoming the second airline to operate from the newly developed aviation hub. The airport, inaugurated on March 28, is scheduled to begin commercial services from June 15, marking a significant milestone in India’s expanding aviation infrastructure. Akasa Air will operate daily flights connecting Noida with Bengaluru and Navi Mumbai, enhancing regional connectivity and supporting rising passenger demand.

LANXESS has entered into a strategic agreement with Hindustan Petroleum Corporation Limited to market aviation and industrial lubricants across India and the SAARC region. The collaboration is designed to strengthen distribution channels and improve access to premium lubricant products in key industrial segments. Under the memorandum of understanding (MoU), both companies will explore short-, medium-, and long-term opportunities for business development and market expansion.

Honda Motorcycle & Scooter India (HMSI) has initiated a voluntary recall of an unspecified number of CB1000 Hornet SP motorcycles manufactured between September 30, 2024, and August 22, 2025, to address two identified technical issues. One of the concerns involves the routing of the fuel feed hose, a component critical to engine performance and rider safety. The recall reflects the increasing emphasis among automotive manufacturers on proactive quality control and regulatory compliance in India’s premium motorcycle segment.

Titan Company Ltd has assured investors and consumers that its jewellery businesses, including Tanishq and CaratLane, remain insulated from short-term gold supply disruptions despite industry concerns surrounding import licence renewals and geopolitical uncertainty in the Middle East. Chief Financial Officer Ashok Sonthalia said the company’s gold exchange programme has been operating successfully since the third quarter and can be expanded further if necessary. Titan has also prepared contingency mechanisms to manage potential supply challenges.

Emami Ltd. has announced the acquisition of a 60 percent stake in Hyderabad-based IncNut Digital Pvt Ltd for Rs. 321 crore as part of its strategy to strengthen its footprint in India’s fast-growing beauty and personal care market. The deal includes performance-linked adjustments over a 24-month period and reflects Emami’s broader push toward digital-first consumer brands and premium wellness segments.

Footwear giant Bata India has reaffirmed its long-term commitment to the Indian market, unveiling an ambitious expansion strategy aimed at strengthening its retail footprint across the country. The company plans to increase its store network from more than 2,000 outlets to 3,000 within the next three years, signaling confidence in India’s evolving consumer economy and rising discretionary spending. Company leadership emphasized continued investment in the domestic market despite broader economic uncertainties.