Current Affairs - Business

NTPC Limited signed a 50:50 joint venture agreement with EDF Power Solutions India Private Limited on September 25, 2026, to develop low-carbon energy infrastructure. NTPC is India’s largest power utility and operates under the Ministry of Power. The joint venture will focus on the development, ownership and operation of pumped storage projects, along with hydroelectric installations, renewable energy facilities and electricity distribution operations. The new entity will undertake projects in India and neighbouring countries. The partnership supports India’s target of achieving 100 GW of installed pumped storage capacity by 2036 and aims to combine technical expertise to accelerate decarbonization and improve the performance of electricity systems and transmission assets.

Mastercard exited Pine Labs by selling its entire 4.31% stake for ₹933.57 crore through open market transactions on September 22, 2026. The transaction was executed through block deals on the BSE, involving the sale of 4.97 crore equity shares at ₹187.75 per share. ICICI Prudential Life Insurance was the largest institutional buyer, acquiring a 0.8% stake, while Societe Generale and Citigroup Global Markets Singapore also purchased significant stakes. Pine Labs is an Indian merchant commerce platform headquartered in Noida, Uttar Pradesh, and was established in 1998. Mastercard is a global payment technology corporation headquartered in Purchase, New York.

Muthoot FinCorp signed a title sponsorship agreement with the Board of Control for Cricket in India (BCCI) for international cricket matches organised by the board until March 2028. The deal is valued at up to Rs 150 crore, with a reported payout of up to Rs 4.3 crore per match. Muthoot FinCorp replaced IDFC First Bank, whose previous sponsorship cycle ended in August 2026. The earlier deal had a per-match payout of Rs 4.2 crore. The new agreement forms part of BCCI’s broader sponsorship portfolio for Indian home cricket, which also includes associate partnerships with Campa, SBI Life and ChatGPT.

Indian Oil announced a ₹2,449 crore investment to construct and operate a 424.65-km natural gas pipeline connecting Kochi, Kanyakumari and Thoothukudi. The pipeline will pass through Kerala and Tamil Nadu and have a total capacity of 6.84 million standard cubic metres per day (MMSCMD), including a common carrier capacity of 1.71 MMSCMD. The project aims to strengthen India’s natural gas infrastructure and increase the share of natural gas in the country’s energy mix. Indian Oil Corporation Limited (IOCL) is a Maharatna public sector enterprise headquartered in New Delhi and operates under the Ministry of Petroleum and Natural Gas.

Chennai will be the location of Starbucks’ first Global Capability Centre (GCC) in India. Starbucks Coffee has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government through Guidance Tamil Nadu to establish the technology and global capability hub. The centre is expected to create around 800 high-value technology jobs in its first phase. It will support Starbucks’ global operations through functions such as software development, finance, product development and research. The Chennai GCC will operate independently of Starbucks’ existing Indian retail joint venture with Tata Consumer Products, further strengthening Chennai’s position as a major GCC destination.