Top Business Stories Of July 23: Infosys Q1, Tata Capital IPO And More In Focus
From SC dismissing Rs 1,300-crore damages claim against SpiceJet to Good Glamm dismantling its unified business model, here are the top business stories of the day.
Infosys announced its first quarter results for the fiscal 2026, logging a 2% downturn in its net profit. The Good Glamm Group announced that it will dismantle its unified house-of-brands model.
In other news, Tata Capital is seeking a valuation of $18 billion to $20 billion in its planned initial public offering.
Here’s a quick roundup of today’s key headlines:
Infosys Raises Lower-End Of FY26 Revenue Guidance
Infosys' profit for the April-June period declined despite meeting analysts' estimates. Its bottom-line declined 2% to Rs 6,921 crore from the year-ago period's Rs 7,033 crore.
The IT firm raised its lower-end guidance, as it now expects its revenue for the financial year ending March 2026 to be around 1-3%.
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Good Glamm Group To Dismantle Unified Model
The Good Glamm Group is dismantling its unified house-of-brands model, chief executive officer Darpan Sanghvi said in a public note on July 23, attributing the decision to escalating financial difficulties and unsuccessful restructuring attempts.
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Tata Capital IPO: Company Seeks Valuation Of Up To $20 Billion
Tata Capital is reportedly aiming for a valuation between $18 billion and $20 billion for its upcoming initial public offering. Sources familiar with the matter indicate the company might file an updated draft red herring prospectus as early as this week.
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SC Rejects Rs 1,300 Crore Damages Claim By Kalanithi Maran, KAL Airways Against SpiceJet
Shares of SpiceJet Ltd. surged more than 6%. This significant rise followed the Supreme Court's dismissal of a Rs 1,323 crore damages claim brought by former promoter Kalanithi Maran and KAL Airways.
The ruling by the apex court removed a substantial legal burden from the low-cost airline, causing its stock to spike sharply.
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Dr Reddy's Laboratories Q1 Results: Profit Up 1.8%
Dr Reddy's Laboratories' first quarter results for the financial year 2026, saw it posting an increase of 1.8% in its bottomline to Rs 1,418 crore from the previous year's Rs 1,392 crore. The profit missed the estimate of Rs 1,514 crore.
Its revenue increased 11.4% to Rs 8,572 crore versus Rs 7,696 crore.
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Tesla's Darkening Outlook To Test Robotaxi Vision Pushed By Musk
Tesla Inc.’s core car-making business is facing a deteriorating outlook, severely challenging Chief Executive Officer Elon Musk’s ability to lift the stock price with his planned robotaxi program.
The electric-vehicle producer is expected to post the sharpest drop in revenues in more than a decade when it reports earnings on Wednesday, due to dwindling demand for Tesla products.
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