Hero MotoCorp has confirmed a significant expansion of its investment in the electric vehicle sector, announcing plans to acquire additional shares in Ather Energy. The automotive giant will spend approximately ₹1,758 crore ($184.01 million) to purchase equity from an existing stakeholder, though the identity of the seller remains undisclosed. This transaction will elevate the company's ownership in the Bengaluru-based electric scooter manufacturer to 32.8%, signaling a strong commitment to the future of green mobility in India.
The announcement arrived as the Indian stock market prepared for a cautious start on August 28. Early indicators from GIFT Nifty futures showed a modest rise of 0.27%, with the index trading around 24,265. This local sentiment mirrored a mixed performance across Asian markets, where investors remained observant ahead of Federal Reserve Chair Kevin Warsh’s upcoming speech at Jackson Hole, which is expected to provide clarity on future interest rate movements.
- Hero MotoCorp to raise Ather stake — investment of ₹1,758 crore to reach 32.8% ownership
- Wipro expands Google Cloud tie-up — focus on Gemini Enterprise and internal AI deployment
- HDFC Bank eyes NCLT appeal — challenging a ₹6.25 crore settlement for a ₹22,000 crore claim
- Vedanta to raise ₹1,000 crore — local-currency bond issuance planned for coming weeks
Technology shares provided a boost to global markets overnight, particularly in the United States. Following a strong earnings report from Nvidia, the Nasdaq surged 1.6%, while the S&P 500 and Dow Jones saw gains of 0.7% and 0.2%, respectively. In contrast, the Nikkei in Japan climbed 0.8%, while South Korea’s Kospi faced a decline of 1.12% as regional volatility persisted.
In the IT services sector, Wipro revealed it is deepening its collaboration with Google Cloud. The partnership aims to accelerate the adoption of Gemini Enterprise and agentic AI across various enterprises. Wipro is also scaling its own internal use of these advanced AI tools to enhance operational efficiency. Meanwhile, HCLTech has teamed up with Wacker Chemie to establish a global capability center in Pune, focusing on digital transformation and engineering support.
The banking sector is closely watching HDFC Bank, which is weighing an appeal against a recent NCLT decision. The tribunal approved a resolution plan where Subhash Chandra, the founder of Essel Group, would pay just ₹6.25 crore as a personal guarantor against admitted claims totaling ₹22,000.57 crore. This massive haircut has sparked concerns among creditors regarding the efficacy of personal guarantee enforcement under current insolvency laws.
Energy and infrastructure firms also made headlines, with ACME Solar securing ₹1,571 crore in long-term funding from India Infrastructure Finance Company (IIFCL). This capital is earmarked for a 300 Mw peak power project in Rajasthan. Additionally, Adani Power executed an agreement to sell its entire stake in Chandenvalle Infra Park to AdaniConneX Private Limited, effectively removing the entity from its subsidiary list.
In the logistics and telecommunications space, RailTel secured a ₹38.59 crore contract from the Cotton Corporation of India for cloud data center hosting. Simultaneously, Tejas Networks received a letter of intent from TCS to supply equipment for BSNL’s 4G mobile network across 18,685 sites, a deal valued at ₹1,537 crore. These contracts highlight the ongoing digital infrastructure push across both public and private sectors.
Finally, Tata Motors Passenger Vehicles introduced Tata.cars as its new customer-facing brand identity, aimed at creating a distinct market presence. On the financial front, Great Eastern Shipping announced a ₹900 crore share buyback at a maximum price of ₹1,530 per share. This buyback represents 4.12% of the company's total paid-up equity capital, reflecting a strategy to return value to shareholders amidst fluctuating global oil prices, which saw Brent crude trading at $89.45.
