Ola Electric supplier dues at 80% spark insolvency pleas

Ola Electric’s overdue payments to MSME suppliers exploded to 80% of its outstanding dues, up from 4.6% after its 2024 listing. The delays triggered insolvency petitions from three vendors and pushed the stock over 5% lower, warning of supply‑chain strain and governance risk for the EV maker.

Birla's $1.8 bn purchase of Sprng Energy doubles its renewable capacity to 9.3 GW, catapulting Aditya Birla Renewables into India's top five clean‑power firms. The deal pivots the group from commercial‑C&I projects into utility‑scale assets, positioning it to chase a 20 GW target and challenge Adani Green’s lead.

The June draft red‑herring prospectus filed with SEBI shows Kiran Thomas resigned on March 23 and Pankaj Mohan Pawar took over on March 24. Pawar, a long‑time Reliance executive, will steer the company through its planned Rs 37,700‑crore (≈ $4 bn) listing, signaling continuity for investors.

Inox India announced fresh orders worth Rs 939 cr, with Rs 871 cr coming from its Industrial Gas unit as a mega contract for the space‑exploration industry. The deal pushes the segment’s annual revenue close to its full‑year target and sparked a 3 % stock jump.

HCLTech reported a 20% YoY rise in Q1 FY27 net profit to ₹4,626 cr, driven by 13.9% revenue growth and record $2.4 bn deal bookings. The board announced a ₹12 per share interim dividend, its 94th consecutive payout, and reaffirmed FY27 revenue guidance of 1‑4% growth.

TCS announced its biggest leadership reshuffle in three years, moving a dozen senior execs and carving new business units as the firm reels from its first annual revenue decline since FY26. The changes target sharper accountability, especially in its BFSI vertical, which now splits into West and East Coast divisions. The move signals a push to revive growth.

India's largest asset manager is pricing its IPO at an 8% discount to the sector average, reflecting doubts over its low profit margin of 0.25% of assets. The firm hopes higher‑yield private‑credit and AIF businesses will boost earnings, offsetting a passive‑fund heavy mix that drags profitability.

HCL Technologies announced a ₹3,500 crore investment to build AI‑focused data centres capable of scaling to 50 MW, via a new subsidiary structure. The move positions the firm to capture AI‑driven demand and digital‑sovereignty projects as the sector shifts from raw infrastructure to AI‑ready services. It comes as HCLTech posted a 20% YoY profit rise and kept FY27 revenue guidance at 1‑4%.

Indian firms are swapping pricey Western AI for cheaper Chinese LLMs like DeepSeek and Moonshot AI to curb soaring AI budgets. The shift boosts cost efficiency but deepens dependence on Beijing, sparking debate over India’s AI sovereignty and long‑term tech strategy.

The lender’s FY26 headcount fell to 211,178, a net loss of 3,343 staff as it shifted back‑office roles to technology. Management says the move frees resources for AI‑enabled, customer‑facing services while the balance sheet grew 12%. The shift signals a broader push for tech‑led efficiency in Indian banking.

Bengaluru's Vimag Labs has landed its fifth Indian patent for a software‑defined electric motor that eliminates rare‑earth magnets, using power electronics to generate the rotor field. The breakthrough could slash dependence on China’s choke‑hold over rare‑earth supplies for EVs and other high‑performance machines.