Indian markets saw significant activity today across major companies. Digital investment platform Groww experienced a share price drop following large block deals. Beverage maker Varun Beverages announced its entry into the alcoholic drinks market, while pharmaceutical giant Cipla faced USFDA observations at one of its key facilities. Tata Motors' passenger vehicle division reported strong sales growth, and Axis Bank posted a substantial 23% increase in its quarterly net profit.
Groww Sees Shares Fall Amid Block Deals
Shares of Billionbrains Garage Ventures, the parent company of Groww, fell over 3% today after major block deals. Approximately 12.74 crore shares, representing about 2.1% of the company's total equity, changed hands in transactions valued at around ₹2,500 crore. The identities of the buyers and sellers in these large trades were not immediately disclosed.[kotakneo+2]
The stock was trading at ₹196.50 apiece, down 3.21% by midday today. This follows a report from August 25 that existing investor Ribbit Capital planned to sell a 1.6% stake in Groww's parent company for about ₹1,914 crore, with a reported floor price of ₹195 per share.[kotakneo]
Growwhad reported its first-quarter results last month. The company's revenue remained largely unchanged at ₹1,501 crore, compared to ₹1,505 crore in the previous quarter. However, net profit for the quarter rose 7% to ₹735 crore, up from ₹686 crore in the prior quarter. The company's EBITDA increased by 3.4% to ₹970 crore, with the EBITDA margin improving to 64.6%.[tradingview+2]
Groww, a leading digital investment platform based in Bengaluru, offers user-friendly access to mutual funds, stocks, US equities, and gold. The company recently introduced new features like an AI Investing Assistant called GR-1, an advanced option chain, and a position filtering tool for F&O trades. It also launchedMF Prime for mutual funds, offering expert guidance to customers. Around its IPO in November 2025, Groww was valued between $6.8 billion and $8.9 billion, or approximately ₹61,735 crore.[kotakneo+3]
Varun Beverages Expands into Alcohol Market
Varun Beverages, a key bottling partner for PepsiCo, is making a significant move into the alcoholic beverages market. The company's board approved the incorporation of a wholly-owned subsidiary in India named KIVA Spirits and Company Ltd. This new entity will focus on ready-to-drink (RTD) alcoholic beverages and allied products.
To lead this new venture, Varun Beverages has appointed Prathmesh Mishra as the Chief Executive Officer and Managing Director of KIVA Spirits. Mishra brings extensive experience from the alcoholic beverages industry, having previously served as a Diageo executive, including Managing Director for Korea and Japan. The proposed subsidiary will have an authorized share capital of ₹10 crore and a paid-up equity capital of ₹9 crore.[business-standard+21]
This diversification follows a revised exclusive bottling agreement with PepsiCo in May, which extended the bottling term to April 30, 2049, and removed restrictions on Varun Beverages' ability to diversify into other drink businesses. In addition to its domestic expansion, Varun Beverages is also establishing a joint venture in Tunisia. This 75% owned venture, named Varun Beverages Tunisia SA, will produce and distribute carbonated soft drinks, juices, water, and dairy products.[business-standard+7]
In its financial results for the quarter ended June 2026, Varun Beverages reported strong performance. Consolidated net profit increased by 15% year-on-year to ₹1,525.35 crore. Revenue also saw a significant jump, growing 20.7% to ₹8,650.57 crore. Consolidated sales volume rose 19.8% to 66.7 million cases in the quarter, driven by a 14.4% volume growth in India and 38.4% across its international territories.[sahi+8]
Cipla Faces USFDA Observations
Pharmaceutical major Cipla has received seven inspectional observations in Form 483 from the United States Food and Drug Administration (USFDA). This followed a follow-up current Good Manufacturing Practices (cGMP) inspection at the company's manufacturing facility in Pithampur, Madhya Pradesh. The inspection took place from August 17 to August 25, 2026.[sahi+5]
The Pithampur facility isa critical site for Cipla's US respiratory product portfolio. The company stated it willwork closely with the USFDA to address these observations within the stipulated timeframe. This facility has been under a regulatory overhang since receiving a warning letter in November 2023. The ongoing regulatory scrutiny could potentially delay future high-value product launches, such as generic Advair.[sahi+4]
Despite the regulatory challenges at Pithampur, Cipla has been active in new product launches. In December 2025, the company launched Yurpeak (tirzepatide) in India, a new injectable medication for managing obesity and type-2 diabetes. This weekly therapy is available in multiple strengths and is the second brand of Lilly's tirzepatide in India.[sahi+2]
Earlier, in February 2026, Cipla USA Inc., a wholly-owned subsidiary, launched Liraglutide Injection, the generic equivalent of Saxenda, for weight management therapy in the US. Cipla is also preparing tolaunch its much-anticipated asthma inhaler, generic Ventolin, in the US market. The company holds 180 daysof market exclusivity for albuterol, the active ingredient in Ventolin.[m+4]
Tata Motors Passenger Vehicle Sales Surge
Tata Motors Passenger Vehicles Ltd. (TMPVL) reported robust sales growth for the second quarter of Fiscal Year 2026. The company delivered 144,397 units, marking a double-digit year-on-year growth of over 10%. Electric vehicle (EV) sales showed exceptional performance, surging 59% year-on-year to nearly 25,000 units during the quarter.[cars+2]
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd., highlighted the strong demand witnessed in September 2025. He attributed this surge to the rollout of GST 2.0 and favorable festive tailwinds. The company's multi-powertrain portfolio, including CNG and EVs, contributed significantly to its growth.[cars+3]
Revenues for TMPVL in Q2 FY26 were up 15.6% year-on-year, reaching ₹13,500 crore. Electric vehicles accounted for 17% of total sales, while CNG vehicles made up 28% in Q2 FY26, showcasing the growing adoption of alternative powertrains. This strong performance comes as the company continues to expand its product offerings and focus on sustainable mobility solutions.[motoring-trends+3]
Axis Bank Posts Strong Q1 Profit Growth
Axis Bank, India's third-largest private sector bank, announced strong financial results for the quarter ended June 2026 (Q1 FY27). The bank reported a 23% year-on-year jump in standalone net profit, reaching ₹7,114 crore, surpassing analyst estimates. Net Interest Income (NII), a key measure of earnings from lending operations, also rose over 8% to ₹14,646 crore from ₹13,560 crore a year earlier.[livemint+2]
The bank's advances grew 19% year-on-year and 2% quarter-on-quarter, totaling ₹12.62 lakh crore as of June 30, 2026. Retail loans saw an 8% year-on-year increase, reaching ₹6.76 lakh crore, and accounted for 54% of the bank's net advances. Small Business Banking (SBB) advances grew 18% year-on-year, while corporate loans increased 38% year-on-year.[livemint+7]
Axis Bank is also actively raising capital to support its growth. The bank is set to raise $700 million through a dual-tranche (three-year and five-year) loan under the Reserve Bank of India's (RBI) special external commercial borrowing (ECB) swap facility. This club facility arrangement is being anchored by CTBC Bank from Taiwan and United Overseas Bank from Singapore, with significant contributions from the World Bank's IFC. The three-year tranche is priced at 110 basis points over SOFR, and the five-year tranche is at 120 to 125 basis points over SOFR.[thehindu+7]
The bank's balance sheet grew 20% year-on-year to ₹19,21,966 crore as of June 30, 2026. Total deposits increased 18% year-on-year, with current account deposits up 6%, savings account deposits rising 14%, and term deposits growing 23%. The share of CASA (Current Account Savings Account) deposits in total deposits stood at 38%.[newsbytesapp+2]
