Business - The Purbottar

23 Jul

Royal Stag becomes world’s largest-selling whisky brand in 2025

Business BureauBusiness

PernodRicard India on Friday announced that its flagship brand Royal Stag has been ranked the world's largest-selling whisky brand for calendar year 2025, according to the latest IWSR 2025 rankings. The brand recorded annual sales of 32.6 million cases during the year, marking a significant milestone in its three-decade journey.Commenting on the achievement, Jean Touboul, CEO of PernodRicard India, said the recognition reflects the trust consumers have placed in Royal Stag over the past 30 years. He said the brand's success demonstrates how continuous innovation, cultural relevance and evolving with consumer aspirations have enabled it to emerge as a global…

22 Jul

Ankur Jain Steps Down as Bira 91 Founder Following Lenders and Investors Settlement

anuprova EditorBusiness

Ankur Jain, the founder and Chief Executive Officer of Bira 91 parent B9 Beverages, has stepped down from the company's board and executive leadership following a full settlement with institutional investors and lenders. The agreement resolves a two-year corporate dispute involving nearly 30 stakeholders, paving the way for the debt-laden craft brewer to undergo a comprehensive recapitalization and management restructuring. As part of the deal, Jain and the promoter family will surrender their executive powers along with their 17.8% ownership stake in B9 Beverages. In return, lenders—including Anicut Capital and Hero Corporate Services—and key shareholders like Peak XV Partners and…

22 Jul

Vedanta Loses Legal Challenge Over Suvali Oil Block Contract Extension

nanika EditorBusiness

The Delhi High Court on Wednesday upheld the Centre’s decision to deny an extension of the Production Sharing Contract (PSC) for Vedanta Ltd’s offshore Suvali oil block in Gujarat and allow Oil and Natural Gas Corporation Ltd (ONGC) to take over operations. Justice Purushaindra Kumar Kaurav dismissed Vedanta’s petition challenging the Ministry of Petroleum and Natural Gas’s September 19, 2025 order, which rejected the company’s 2021 application seeking a 10-year extension of the PSC signed on June 20, 1998. Vedanta had requested an extension of the contract until June 29, 2033. The company had previously received five interim extensions, with…

22 Jul

TVS Motor posts record Q1 revenue and profit as sales surge across segments

Business BureauBusiness

TVS Motor Company reported its highest-ever quarterly financial performance for the first quarter of FY2026-27, posting a 38% year-on-year increase in revenue to Rs. 13,896 crore and a 51% jump in profit after tax (PAT) to Rs. 1,174 crore. The company's revenue stood at Rs. 10,081 crore in the corresponding quarter of the previous financial year, while PAT was Rs. 776 crore. The company also recorded its highest-ever quarterly EBITDA of Rs. 1,779 crore, up 41% from Rs. 1,260 crore a year earlier. Its EBITDA margin improved to 12.8% from 12.5%, despite rising commodity prices and global market uncertainties that…

22 Jul

IDBI Bank posts 5% rise in Q1 profit as advances and deposits record strong growth

Business BureauBusiness

IDBI Bank Ltd. on Saturday reported a 5 per cent year-on-year increase in net profit to ₹2,115 crore for the first quarter of FY2026-27, driven by higher net interest income, robust loan growth and continued improvement in asset quality. The bank had posted a net profit of ₹2,007 crore in the corresponding quarter of the previous financial year, while profit rose 9 per cent sequentially. The Board of Directors approved the financial results for the quarter ended June 30, 2026, at its meeting in Mumbai. Net Interest Income (NII) grew 10 per cent year-on-year to ₹3,486 crore from ₹3,166 crore,…

22 Jul

Bike taxi policy needs unified regulation to boost safety and livelihoods: CUTS report

Business BureauBusiness

India needs a harmonised, evidence-based regulatory framework for bike taxis to reduce policy uncertainty, safeguard gig workers, improve commuter safety and strengthen affordable urban mobility, according to a new report released by CUTS International. The report, Harmonising Bike Taxi Regulations in India: An Evidence-Based Assessment and Suggested Pathways for Reform, was launched in New Delhi by Gopal Krishna Agarwal, National Spokesperson (Economic Affairs) of the BharatiyaJanata Party.The report highlights that India's bike taxi regulations currently vary widely across states, with policies ranging from enabling frameworks and conditional approvals to restrictions, EV-only mandates and legal ambiguities. According to CUTS International, this…

22 Jul

Samardung tunnel incident triggers rescue operation in North Sikkim

Business BureauBusiness

Rescue operations continued at the Samardung Tunnel (Teesta VI) project in North Sikkim after a suspected methane gas leak inside the tunnel on July 20 trapped 25 project personnel, resulting in casualties, according to Patel Engineering Limited (PEL). The company said the incident occurred at around 1 pm in the Adit-3, Face 4B section of the project. A sudden release of suspected methane gas trapped within the rock formation allegedly triggered a gas burst or explosion inside the tunnel, filling the area with dense fumes and toxic gases and hampering rescue efforts. PEL said its project team is working closely…

21 Jul

Volkswagen in Advanced Talks to Sell Stake in Indian Unit to JSW Group

anuprova EditorBusiness

German automaker Volkswagen AG is in advanced negotiations to sell a stake in its domestic subsidiary, Skoda Auto Volkswagen India Pvt. Ltd., to the Sajjan Jindal-led JSW Group. The potential transaction aims to secure fresh capital and a strong local partner to bolster the European carmaker's presence in the world’s third-largest automotive market. According to sources familiar with the matter, JSW Group is seeking a majority stake in the venture, with an agreement potentially taking shape in the coming weeks. However, key terms including company valuation and future capital allocation remain under negotiation. The strategic move comes as Volkswagen seeks…

21 Jul

Royal Enfield upgrades Classic 350 with new rider-focused features to strengthen market appeal

Business BureauBusiness

Royal Enfield has introduced the 2026 Classic 350 with new comfort and convenience features, as the mid-size motorcycle maker looks to further strengthen the appeal of one of its best-selling models in the competitive 250cc–750cc segment. The updated Classic 350 now comes equipped with an Assist and Slipper Clutch across all dual-channel variants, offering lighter clutch action for easier operation during city commutes and long-distance touring. The feature also enables smoother upshifts and downshifts, enhancing rider comfort and confidence across varied riding conditions. In another practical upgrade, the motorcycle now features a USB Type-C fast charging port, allowing riders to…

21 Jul

Ultraviolette launches cashback scheme to encourage shift to electric two-wheelers

Business BureauBusiness

Electric vehicle manufacturer Ultraviolette on Wednesday announced a nationwide customer incentive programme aimed at encouraging petrol-powered two-wheeler owners to switch to electric mobility amid rising fuel costs. The company has launched its 'Kill the Petrol Bill' programme, under which customers purchasing the Ultraviolette F77 or X-47 electric motorcycles can receive cashback based on the distance covered by their existing petrol-powered two-wheelers over the past two years. Under the scheme, riders will receive ₹1 cashback for every kilometre ridden, with benefits of up to ₹30,000. For instance, a customer who has travelled 20,000 km in the last two years will be…