Categories

All News India Business Stock market Politics Sports Technology Startups Entertainment Hatke International Automobile Science Travel Miscellaneous
Source: inc42

IPO-Bound Tonbo Imaging’s Net Profit Sinks 30% YoY To ₹362.6 Cr In FY26

Business

Defencetech startup Tonbo Imaging reported a 30% year-on-year decline in net profit to ₹362.6 crore and a 22.7% drop in operating revenue to ₹299.9 crore for FY26. The company saw significant declines in both domestic and export sales. As it prepares for an OFS-only IPO, Tonbo has refuted allegations regarding the procurement of Chinese components and the intentional underpricing of contracts to inflate its order book.

Read Full Story
Next Story
Source: inc42

B2C Giants Add AI Twist, LEAP India IPO Day 2 & More

Business

Indian consumer startups like Zomato and CARS24 are transforming internal AI tools into standalone enterprise ventures to unlock new revenue streams. Meanwhile, Apple Pay prepares for an October India launch, and Info Edge reports a 43% profit surge. Other highlights include LEAP India's IPO progress, GalaxEye's acquisition of StarOps, and the emergence of AI-driven rental platform FlatX, alongside ongoing legal disputes between Zostel and OYO.

Read Full Story
Next Story
Source: inc42

Capillary Tech Promoter Sells Stake Worth ₹172 Cr

Business

Capillary Technologies International Pte Ltd, the Singapore-based promoter entity of SaaS firm Capillary Technologies, offloaded 32.9 lakh shares in a bulk deal worth ₹171.5 crore. The sale, executed at ₹520.86 per share, diluted the promoter's stake by over 8.5% to book profits. This move follows a recent stock uptick despite a Q1 FY27 net loss and a significant cyber fraud loss at a Czech subsidiary.

Read Full Story
Next Story
Source: inc42

Eternal’s Enterprise AI Turn: Why The Zomato Parent Spun Out Nugget

Business

Eternal has spun off its AI platform, Nugget, into a separate entity under Carthero Technologies Private Limited. Originally developed to optimize Zomato's internal operations, Nugget now provides conversational AI, voice agents, and workflow automation to external enterprises, including competitor Swiggy. The cash-flow positive venture generated ₹7.2 Cr in FY26 revenue and serves diverse sectors like finance and retail, reflecting a broader trend of consumer tech companies commercializing internal tools. (70 words) -.

Read Full Story
Next Story
Source: inc42

Parliament Clears Taxation Bill; FM Re-assures No MDR On P2P UPI Payments

Business

"Parliament has cleared The Taxation and Other Laws (Amendment) Bill, 2026, enabling the government to potentially introduce a merchant discount rate (MDR) on specific UPI payments. Finance Minister Nirmala Sitharaman emphasized that end-customers will not face separate transaction charges. The NPCI-led UPI and Services Steering Committee will now determine the scope and structure of any MDR, which may target high-turnover merchants while exempting peer-to-peer transactions.".

Read Full Story
Next Story
Source: inc42

ideaForge Slips Into The Red In Q1, Reports ₹2.3 Cr Loss

Business

ideaForge reported a net loss of ₹2.3 crore for Q1 FY27, returning to the red after a ₹61 crore profit in the previous quarter. Despite a 436% year-on-year increase in operating revenue to ₹68.6 crore, revenue fell 51% sequentially from ₹141 crore. Total income reached ₹70.5 crore, while total expenses nearly doubled year-on-year to ₹82.5 crore, contributing to the quarterly loss.

Read Full Story
Next Story
Source: inc42

Apple Pay Likely To Launch In India By October: Report

Business

Apple Pay is expected to launch in India by late September or October, targeting the premium credit-card market. The service will initially support contactless payments via Visa and Mastercard through NFC-enabled terminals, rather than UPI. Apple is currently negotiating transaction fees with major card issuers. This rollout follows nearly a decade of regulatory and technical delays, marking a significant expansion of Apple's services business within the country.

Read Full Story
Next Story
Source: inc42

Zostel Withdraws Delhi HC Plea Seeking SEBI Review Of OYO’s IPO Disclosures

Business

Zostel has withdrawn its plea to the Delhi High Court requesting that SEBI scrutinize PRISM's draft IPO disclosures regarding Zostel's claimed 7% stake in the OYO parent. The court noted that SEBI would review these concerns during the regulatory approval process. This development is part of a long-standing legal dispute over a failed 2015 acquisition, while PRISM maintains that Zostel's recent legal applications are frivolous.

Read Full Story
Next Story
Source: inc42

Cars24 Launches Enterprise AI Company Deployment Inc, Invests $5 Mn

Business

Cars24 has launched Deployment Inc, an independent enterprise AI venture backed by $5 million in seed funding. The company aims to help businesses transition AI pilots into production-grade deployments using forward deployed engineers. Targeting sectors like BFSI, healthcare, and logistics, Deployment Inc is an OpenAI Select Partner. The venture plans to hire 50 engineers to integrate frontier AI models into critical workflows for measurable business outcomes.

Read Full Story
Next Story
Source: inc42

Bernstein’s Bullish Outlook Sends Paytm To Fresh 52-Week High

Business

Paytm shares hit a 52-week high of ₹1,590 after Bernstein upgraded the stock to ‘Outperform’ and raised its target price to ₹2,200. The brokerage anticipates that potential UPI Merchant Discount Rate (MDR) monetization from FY28 will boost FY30 earnings per share by 30% and add ₹2,200 crore to EBITDA. This rally follows strong Q1 FY27 results, featuring a 79% year-on-year increase in consolidated net profit.

Read Full Story
Next Story
Source: inc42

LEAP India IPO: Issue Subscribed 42% On Day 2 So Far

Business

Logistics tech company LEAP India's IPO reached a 42% subscription rate by the second day, increasing from 26% on day one. Qualified institutional buyers led the bidding with a 61% subscription of their quota, while the employee quota was oversubscribed 2.32 times. The public issue, valuing the company at ₹7,004.5 crore, includes a fresh issue of ₹480 crore and an offer for sale of ₹2,000 crore.

Read Full Story
Next Story
Source: inc42

Info Edge Q1: PAT Jumps 43% YoY To ₹490 Cr, Revenue Increases 11%

Business

Info Edge, the parent company of Naukri, reported a 43% year-on-year increase in net profit for Q1 FY27, reaching ₹490.1 crore. However, profit declined 35% sequentially from ₹755.7 crore. Operating revenue grew 11% year-on-year to ₹880.7 crore, while total revenue, including other income, reached ₹1,073 crore. Total expenses for the quarter saw a marginal increase of 3% year-on-year, totaling ₹580.4 crore during the period.

Read Full Story
Next Story
Source: inc42

AUM Ventures Marks First Close Of ₹750 Cr Deeptech-Focused Fund At ₹225 Cr

Business

AUM Ventures has marked the first close of its India Innovation Fund II at ₹225 crore, targeting a total corpus of ₹750 crore. With over 65% of commitments from international investors, the fund will provide early-stage capital to 25-30 Indian deeptech startups in sectors like AI and spacetech. Building on Fund I's strong performance, the firm aims to support pre-seed and seed stages with follow-on funding reserved.

Read Full Story
Next Story
Source: inc42

GalaxEye Acquires StarOps To Expand Satellite Engineering Capabilities

Business

"Spacetech startup GalaxEye has acquired Bengaluru-based StarOps to enhance its in-house satellite engineering capabilities. This acquisition provides GalaxEye with indigenous spacecraft technologies, including qualified satellite bus platforms and proprietary subsystems. Founded in 2021, GalaxEye develops vertically integrated space tech for defense and commercial use, specifically through its OptoSAR imaging technology. The company now aims to launch two new satellites within the next 24 months.".

Read Full Story
Next Story
Source: inc42

The D2C & Retail Summit 2026 Agenda Is Live: Decoding India’s New Commerce Playbooks

Business

The D2C & Retail Summit 2026 will take place on August 19 at The Leela Ambience, Gurugram. Featuring Guest of Honour Shri Piyush Goyal, the event will gather over 600 founders, investors, and CXOs. Under the theme "Commerce In The Age Of AI & 10-Min Delivery," the summit will explore AI, quick commerce, and capital efficiency to help brands navigate India's rapidly growing ecommerce market and build durable consumer businesses.

Read Full Story
Next Story
Source: inc42

Announcing The D2C Retreat 2026 | 70+ Consumer Brand Founders, ₹30,000 Cr+ In Revenue, Everything Off-Record

Business

The third edition of The D2C Retreat will take place from September 17-19, 2026, at Raffles Udaipur. Over 70 founders of India's leading consumer brands, representing more than ₹30,000 Cr in collective annual revenue, will gather on a private island. Operating under the Chatham House Rule, these leaders will discuss scaling, durability, and leadership to navigate the complexities of India's rapidly growing consumer economy.

Read Full Story
Next Story
Source: inc42

NHRC Seeks Report From Delhi Government Over Alleged Overcharging By Cab Aggregators

Business

The National Human Rights Commission has ordered the Delhi government to investigate allegations that app-based cab and auto aggregators are overcharging commuters beyond prescribed rates. The commission demanded a report within two weeks, asserting that digital platforms must adhere to state-fixed fares. Additionally, the NHRC notified the Union Ministry of Consumer Affairs to ensure compliance, as driver unions simultaneously demand fare revisions due to rising operational costs.

Read Full Story
Next Story
Source: inc42

Delhivery’s Q1 Show, Weekly Funding Rebounds & More

Business

Delhivery reported a 65% profit drop to ₹31.9 Cr in Q1 FY27 despite a 28% revenue increase, citing labor and fuel costs. Meanwhile, Indian startup funding surged 74% to $274.4 Mn last week, led by cleantech. Flipkart’s Minutes is entering the premium grocery market with its Pykd brand. Additionally, Maharashtra considers new aggregator rules for delivery platforms, and the government clarified that UPI remains free for consumers.

Read Full Story
Next Story
Source: inc42

Ola Electric’s Comeback Quarter Comes With A Caveat

Business

Ola Electric is focusing on cost reduction and market share recovery after a period of decline. In Q1 FY27, revenue rose 72% sequentially to ₹455 Cr, though net losses persist at ₹336 Cr. To improve unit economics, the company is diversifying into electric motorcycles, shifting to a dealer-led distribution model, and investing in proprietary battery cells, while facing ongoing challenges with service complaints and supplier disputes.

Read Full Story
Next Story
Source: inc42

UPI’s Free Ride Is Over

Business

The Indian government is considering introducing a Merchant Discount Rate (MDR) on certain UPI transactions to fund infrastructure and security. The Lok Sabha passed a bill enabling this charge, which would target larger merchants for transactions exceeding ₹2,000. While intended to create a sustainable revenue model for banks and fintechs, critics fear it could disrupt UPI's frictionless adoption and lead merchants to pass costs onto consumers.

Read Full Story
Next Story