Business

Laxmi Mittal's family has joined a consortium acquiring a stake in Rajasthan Royals, alongside Aadar Poonawala and existing principal owner Manoj Badale. The move reflects rising IPL franchise valuations and a trend toward high-profile multi-investor ownership structures.

Groww reported Q4 FY26 revenue of Rs 1,535.5 crore and a profit of Rs 686 crore as customer assets crossed Rs 3 trillion, up 36% year-on-year. The company plans to channel profits and fresh fundraise proceeds into scaling its lending business across consumer credit and broking segments.

Spirit Airlines has shut down after government bailout talks failed, ending service at the US budget carrier. Its collapse, driven by fuel cost pressure, removes a major source of cheap fares and puts thousands of jobs at risk.

Spirit Airlines announced Saturday it has ceased all operations after 34 years, shutting down immediately with no wind-down period. Passengers holding tickets are stranded, and hundreds of U.S. routes lose a key source of low-fare competition overnight.

Apple posted strong double-digit growth in iPhones, iPads, and Macs in India even as the overall Indian smartphone market declined, CEO Tim Cook said. The performance signals Apple is winning first-time buyers and expanding its ecosystem base in one of the world's fastest-growing consumer markets.

JioHotstar posted Rs 31,048 crore in operating revenue and Rs 3,228 crore profit before tax for FY26, with monthly active users reaching 550 million. Sports viewership, rising digital ad revenue, and 35% growth in entertainment watch time drove the gains.

The RBI has formally cancelled Paytm Payments Bank's licence, concluding an enforcement process that began in 2022. The Paytm app and its payment services operate under a separate licence and remain unaffected, while depositors and wallet holders will be repaid.

Amazon will expand its quick-commerce service Amazon Now to 100 Indian cities, investing over Rs 2,800 crore to build more than 1,000 micro-fulfillment centres. The move directly challenges established quick-commerce players by bringing Amazon's scale and logistics depth into the minutes-delivery segment.

India's auto sector kicked off FY26 with double-digit sales growth in April, led by Maruti Suzuki and Tata Motors each posting over 30% gains. Strong utility vehicle demand drove volumes, with domestic UV sales reaching 56,331 units, up 8% year-on-year.

Apple has flagged significantly higher memory chip costs in coming quarters, an unusual direct warning about a core input expense. The move signals potential margin pressure across its iPhone, iPad, and Mac product lines during a key product refresh cycle.

Apple posted $111.2 billion in March-quarter revenue, up 17%, with iPhone sales rising 21.7% to $57 billion and Services hitting a record $31 billion. India stood out with double-digit growth across most categories, and Cook flagged significant room to grow given Apple's still-modest market share there. Apple guides 14

Toyota Motor plans to build three assembly plants in Maharashtra, India, backed by an estimated 300 billion yen investment. The expansion would triple its Indian output to one million vehicles a year by the 2030s. It signals a major long-term bet on India as a core global manufacturing base.

Apple reported record sales as Tim Cook stepped down as CEO, but warned of supply chain pressure from a RAM chip shortage dubbed RAMaggedon. The shortage could limit device production across Apple's product lines, threatening future revenue. The impact will depend on how severe and prolonged the supply crunch turns out

Air India is cutting roughly 100 flights daily due to rising jet fuel costs, with the biggest reductions on routes to Europe, North America, Australia, and Singapore. The Federation of Indian Airlines has warned of wider service suspensions unless the government steps in with cost relief. Travelers on these routes may

Apple posted $57 billion in iPhone revenue for the March 2026 quarter, up 22 percent, with total revenue reaching $111.2 billion. Chip shortages limited supply even as CEO Tim Cook said demand was "off the charts." The results come days after Apple announced Cook's September retirement and named John Ternus as his

The DoT has cut Vodafone Idea's AGR liabilities by about 27%, reducing the dues the telecom firm owes the government. This directly lowers Vodafone Idea's debt burden, which has been a core threat to its financial survival. The reduction could improve its ability to raise funds and invest in its network.

DoT has finalised Vodafone Idea's AGR dues at ₹64,046 crore, down from ₹87,695 crore, after Supreme Court directions. The reduction of about ₹23,649 crore, combined with a staggered payment option, eases the company's debt pressure. The dues are calculated as of December 31, 2025.

Meta reported $56.3 billion in Q1 2026 revenue, up 33%, with net profit of $26.8 billion. The strong results come just as the company prepares a large round of layoffs aimed at cutting costs and redirecting capital toward AI. The scale and timing of the cuts have not yet been disclosed.

Rajiv Bajaj will not seek re-election to the Bajaj Finance board at the AGM scheduled for July 30, 2026, ending his tenure as a non-executive director. The exit marks a notable governance change at one of India's largest consumer lenders. Investors will watch for any successor announcement.

Air India, IndiGo, and SpiceJet have jointly appealed to the government for ATF price relief, warning the airline industry is near a breaking point. Rising oil prices from West Asia tensions and airspace rerouting are compounding fuel costs on long-haul routes. No government response has been announced yet.