Tata Motors Subsidiary Gets CONSOB Nod for Iveco Offer
Italy’s market regulator CONSOB has approved the offer document submitted by a step-down subsidiary of Tata Motors for the acquisition of common shares in Italian truck maker Iveco Group NV. The voluntary offer is priced at €14.10 per share, including the dividend. The offer is scheduled to open on September 7, 2026, and close on October 26, unless extended. Subject to completion of legal formalities, the offer is also expected to reopen for five days in early November. The transaction marks another significant step in Tata Motors’ plans to expand its presence in the global commercial vehicle market through Iveco.
NCLAT Scraps Zaveri Group Plan for Gujarat SEZ Firm
The National Company Law Appellate Tribunal (NCLAT) has set aside the resolution plan submitted by Zaveri Group for Gujarat Hydrocarbons and Power SEZ Ltd (GHPSL). The appellate tribunal has directed the Resolution Professional and the National Company Law Tribunal to restart the resolution process by inviting fresh bids. A two-member NCLAT bench observed that Zaveri & Co’s bid was based on an “unverified and contested presumption” that the leasehold land belonging to GHPSL would be de-notified from its Special Economic Zone status. The ruling effectively reopens the insolvency process and gives other potential bidders an opportunity to submit fresh resolution plans.
Ola Electric Opens Dealer-Operated Stores Across Seven States
Ola Electric has launched its first batch of dealer-operated stores across seven states, marking a significant shift from its earlier company-owned retail strategy. The electric two-wheeler manufacturer is looking to expand its physical presence and improve customer reach across India through the new dealership model. Ola Electric is targeting a network of more than 500 dealerships over the next couple of quarters. The move comes as the company seeks to strengthen its distribution network and make its electric scooters more accessible to customers beyond its existing company-operated retail footprint. The dealership expansion could also help Ola accelerate sales and service coverage.
SAIL Crude Steel Output Rises 8% to 1.68 Million Tonnes
Steel Authority of India Ltd (SAIL) reported an 8% year-on-year increase in crude steel production to 1.68 million tonnes in August 2026. The state-owned steelmaker had produced 1.55 million tonnes of crude steel in the same month last year. SAIL’s sales performance also improved during the month, with total sales rising 13% year-on-year to 1.87 million tonnes, compared with 1.65 million tonnes a year earlier. The increase in both production and sales points to stronger operating activity for the company. The latest numbers come as India’s steel sector continues to benefit from infrastructure and construction-related demand.
Mamaearth Parent Honasa Targets Rs 5,550 Crore Revenue by FY31
Honasa Consumer, the parent company of beauty brand Mamaearth, is targeting a two-fold increase in revenue to Rs 5,550 crore by FY31, according to founders Ghazal Alagh and Varun Alagh. The company also expects its EBITDA margin to expand to around 15% over the next five years. The founders said Honasa aims to become the fastest-growing company in India’s FMCG sector to reach the Rs 5,000-crore revenue milestone. The company’s portfolio includes Mamaearth and other beauty and personal-care brands. Honasa’s growth ambitions come as India’s rapidly expanding beauty and personal-care market attracts increasing competition from both established FMCG companies and digital-first brands.
Air India Terminates Pilot After Positive Psychoactive Substance Test
Air India has terminated the employment of the pilot-in-command of a Phuket-Delhi flight after the pilot tested positive for a psychoactive substance. The airline said the termination was effective immediately and was part of its zero-tolerance approach toward violations involving safety, fitness and regulatory requirements. The incident highlights the stringent standards airlines are required to maintain for crew fitness and passenger safety. Air India said the pilot’s positive test triggered action in line with the company’s policies and applicable regulatory requirements. The airline has been strengthening its safety and compliance systems as it continues to expand its operations and fleet following its ongoing transformation.
