News Earnings Titan Reports 40% Growth, Steel Companies Face Antitrust Probe Among Key Market DevelopmentsTitan Reports 40% Growth, Steel Companies Face Antitrust Probe Among Key Market Developments
Multiple companies reported significant developments with Titan showing 40% consumer business growth and expanding to 3,433 stores. Steel majors Tata Steel, JSW Steel, and SAIL face antitrust violations for price collusion. Lodha Developers achieved 25% growth in sales bookings to ₹5,620.00 crore, while Mahindra launched the XUV 3XO EV at ₹13.89 lakh.
*this image is generated using AI for illustrative purposes only.
Markets concluded Tuesday's session on a subdued note, continuing the mild corrective phase following recent record highs. Several major companies are drawing investor attention due to quarterly results announcements and significant business developments across various sectors.
Titan Reports Strong Quarter Performance
Titan Company delivered robust performance in the December-ended quarter, with its consumer businesses registering impressive growth across segments. The company's retail expansion continued with significant store additions during the period.
| Segment | Growth Rate (YoY) |
|---|---|
| Consumer Businesses | 40% |
| International Business | 79% |
| Domestic Business | 38% |
| Retail Expansion | Details |
|---|---|
| New Stores Added | 56 |
| Total Retail Network | 3,433 stores |
Steel Sector Faces Regulatory Scrutiny
India's competition watchdog has identified significant antitrust violations in the steel sector. According to reports, market leaders and multiple other firms have been found in breach of competition laws through coordinated pricing activities.
The investigation has implicated major steel producers including:
- Tata Steel
- JSW Steel
- State-run SAIL
- 25 additional firms
The findings put these companies and their executives at risk of substantial financial penalties for alleged price collusion activities.
Other Notable Corporate Developments
Biocon Biologics announced plans to introduce three new oncology biosimilars to strengthen its cancer treatment portfolio. The expansion will position Biocon Biologics among companies with the most comprehensive oncology portfolios in the industry.
Lodha Developers reported strong quarterly performance with sales bookings showing significant growth driven by robust housing demand.
| Financial Metric | Q3 Current Period | Previous Year | Growth |
|---|---|---|---|
| Sales Bookings | ₹5,620.00 crore | ₹4,510.00 crore | 25% |
Pidilite Industries completed a strategic transaction through its subsidiary Pidilite Ventures. The wholly-owned subsidiary transferred its entire shareholding in Pepperfry to TCC Concept through a 100% share swap deal. Following this transaction, Pidilite Ventures now holds a 2.20% shareholding in TCC Concept.
Mahindra & Mahindra expanded its electric vehicle portfolio with the launch of the XUV 3XO EV. The city-focused electric SUV comes equipped with advanced features and competitive pricing.
| Product Details | Specifications |
|---|---|
| Model | XUV 3XO EV |
| Starting Price | ₹13.89 lakh |
| Key Features | Level 2 ADAS, Connected Car Technology |
| Target Segment | City-focused Electric SUV |
These developments across multiple sectors highlight the diverse business activities and growth strategies being pursued by major Indian companies during the current quarter.
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