Business

Mahindra Holidays & Resorts India Ltd. (MHRIL), through its wholly owned Finnish subsidiary Holiday Club Resorts Oy (HCR), has acquired full ownership of a Finnish mutual real estate company, Keskinäinen Kiinteistö Oy Salla Star (KKOSS), for Rs. 2.35 crore. This strategic transaction consolidates HCR's position in the Nordic hospitality market, providing it with direct control over a property it has been leasing since 2012.

In a strategic move aimed at strengthening its global footprint, InterGlobe Aviation, the parent company of IndiGo, has appointed former Niti Aayog CEO and India’s G20 Sherpa, Amitabh Kant, as a Non-Executive Director. Subject to regulatory and shareholder approvals, Kant’s induction to the board aligns with IndiGo’s broader vision to become a globally competitive airline by 2030.

The Tata Group is in advanced discussions to acquire full ownership of Resurgent Power Ventures Pte, a Singapore-based energy investment platform. Tata Power, which currently holds a 26% stake through a subsidiary, is negotiating with other shareholders—including ICICI Venture Funds, the Kuwait Investment Authority (KIA), and the Oman Investment Authority (OIA)—to purchase their combined 74% interest. The proposed deal would value Resurgent Power at approximately $2.1 billion, inclusive of debt.

Reliance Industries Ltd (RIL), India’s largest conglomerate by market capitalization, is initiating a strategic reorganization of its consumer-facing retail operations. The plan involves consolidating all of its fast-moving consumer goods (FMCG) brands—currently spread across multiple subsidiaries—into a standalone entity. This structural overhaul aims to provide specialized managerial oversight and attract investors with a concentrated interest in India’s growing consumer goods sector.

Ather Energy, the Bengaluru-based electric two-wheeler manufacturer, has reached a major milestone by crossing the one lakh unit sales mark for its Rizta scooter. In celebration, the company has unveiled a new variant of the Rizta S, now equipped with a larger 3.7 kWh battery. This model offers an extended range of 159 km per charge, making it an attractive proposition for urban commuters seeking a practical and affordable electric scooter. Priced at Rs.

In a notable shift in India’s automotive landscape, Hyundai’s Creta has become the best-selling passenger vehicle for June 2025, marking a significant milestone in its 10th anniversary year. With 15,786 units sold, the Creta edged out close competitors like Maruti Suzuki’s Dzire and Brezza, which recorded 15,484 and 14,507 units, respectively. The achievement underscores a broader industry trend: the increasing consumer preference for compact and mid-sized SUVs.

In a significant consolidation move in India's health insurance sector, Medi Assist Insurance TPA Pvt Ltd has finalized the acquisition of a 100% stake in Paramount Health Services & Insurance TPA. While both firms will maintain independent operations for the time being, the integration paves the way for strategic alignment and operational synergies. The acquisition brings Rs 4,000 crore in additional health premiums under administration for Medi Assist and significantly broadens its provider network.

Travel Food Services (TFS), a key player in India's travel-focused food and beverage (F&B) sector, is preparing to launch its Rs. 2,000-crore initial public offering (IPO) from July 7 to July 9, 2025. The issue, priced between Rs. 1,045 and Rs. 1,100 per share, is entirely an offer-for-sale (OFS) by the promoter entity, Kapur Family Trust, signaling a strategic shift without raising new capital. TFS, backed by global travel retail leader SSP Group, operates nearly 400 outlets across 14 Indian and 3 Malaysian airports.

India’s largest public sector lender, the State Bank of India (SBI), has formally categorized the loan account of Reliance Communications as fraudulent, escalating a long-standing financial saga involving the telecom company once led by Anil Ambani. SBI’s decision follows months of unanswered concerns over financial irregularities and breaches of loan terms. This classification, which aligns with similar action taken by Canara Bank in 2024, has significant regulatory implications.

Kia India has introduced the Carens Clavis EV, a seven-seater electric multi-purpose vehicle (MPV) set to launch on July 15. As the brand’s first mass-market electric vehicle in the country, the Carens Clavis EV blends familiar design cues from its internal combustion engine (ICE) counterpart with EV-specific innovations, including a distinctive closed grille and charging port. Boasting a 51.4 kWh battery and a driving range of up to 490 kilometers, this MPV is positioned as a compelling option in the niche segment, competing mainly with the BYD eMax 7.