India Business

IndusInd Bank has inaugurated its 12th all-women branch in Chennai, located within Saveetha Dental College, Velappanchavadi. Spanning 1,300 square feet and staffed entirely by female officers, this branch aims to foster an inclusive banking environment by offering a comprehensive suite of retail financial services. The initiative underscores the bank’s commitment to empowering women, facilitating their participation in the financial sector through a supportive and accessible platform.

India’s tyre exports rose by 9 percent year-on-year to Rs 25,051 crore in fiscal 2025, demonstrating resilience amid global trade uncertainties and supply chain disruptions. The Automotive Tyre Manufacturers Association (ATMA) highlighted the sector’s robust growth, driven by significant investments totaling Rs 27,000 crore in recent years. However, the industry faces a critical bottleneck due to limited domestic natural rubber (NR) supply, with nearly 40 percent of demand met through imports.

Steamhouse India, a Surat-based industrial steam and gas supplier, has initiated the process for an initial public offering (IPO) through a confidential pre-filing route, aiming to raise between Rs 500 crore and Rs 700 crore. Founded in 2014 under the Sanjoo group’s industrial legacy, the company reported Rs 291.71 crore in revenue and Rs 25.97 crore in profit for FY24.

State-run construction and project management company NBCC Ltd has secured a significant contract valued at Rs 354.88 crore from FDCM Gorewada Zoo Ltd. The agreement entrusts NBCC with project management and supervision services for the execution of the African Zoo, Safari Plaza, Animal Hospital, Quarantine Facility, and associated infrastructure at the Gorewada Zoo. This contract marks an important addition to NBCC’s portfolio, reinforcing its role as a key player in project management consultancy and real estate development within India’s infrastructure sector.

Reliance Industries Ltd (RIL), one of India’s largest conglomerates, is undertaking a major internal restructuring to unify its growing portfolio of fast-moving consumer goods (FMCG) under a newly formed company. This move seeks to streamline its consumer-facing brands, currently spread across Reliance Retail Ventures Ltd (RRVL), Reliance Retail Ltd (RRL), and Reliance Consumer Products Ltd (RCPL), in order to enhance operational efficiency and attract focused investor interest.

In a significant development, State Bank of India (SBI) has officially designated Reliance Communications Ltd.’s (RCom) loan account as “fraud,” implicating its former director, Anil Ambani, in the process. The move prompted swift responses from two other Reliance Group entities—Reliance Infrastructure and Reliance Power—both of which issued clarifying statements to assure markets of their independence from RCom. Despite their efforts to contain the damage, investor sentiment weakened, with shares of both companies falling sharply on July 4.

Hyundai Motor India’s flagship SUV, the Creta, has claimed the top spot in India’s passenger vehicle market for June 2025, selling 15,786 units and outpacing long-time segment leaders from Maruti Suzuki. This milestone coincides with the Creta’s 10th anniversary in India, reinforcing its position as a dominant force in the SUV category. Maruti Suzuki’s Dzire and Brezza followed closely, with 15,484 and 14,507 units sold, respectively.

TVS Motor Company has introduced an upgraded variant of its flagship electric scooter, the iQube, priced at Rs 1.03 lakh (ex-showroom, Delhi). Designed for everyday urban commuting, the new iQube comes equipped with several advanced features, including Hill Hold Assist and a 3.1 kWh battery offering a certified range of 123 km per charge. This launch builds on the brand’s strong momentum in the electric vehicle (EV) space, having already sold over 6 lakh units of the iQube.

In a pivotal move reshaping the third-party administration (TPA) landscape in India, Medi Assist Insurance TPA Pvt Ltd has completed the acquisition of a 100% stake in Paramount Health Services & Insurance TPA. Valued at Rs. 311.8 crore, the deal significantly enhances Medi Assist's portfolio, adding Rs. 4,000 crore in health premiums under administration. While both entities will continue to function independently in the short term, the strategic integration aims to streamline operations, leverage scale, and expand reach across the Indian health insurance ecosystem.

Honda Motorcycle and Scooter India (HMSI) recorded a 17% year-on-year decline in total wholesales for June 2025, with dispatches falling to 4,29,147 units from 5,18,799 units in the same month last year. The decline was primarily driven by weaker domestic market performance, where sales dropped over 19% to 3,88,812 units. However, the company saw a modest rise in export volumes, which grew to 40,335 units from 36,202 units in June 2024.