Editorial     

Chandra exit points to Tatas’ ‘trust’ deficit

The sudden, unexpected exit of Natarajan Chandrasekaran, chairman of the Tata group, has stunned not only Bombay House but also India Inc. The Tata supremo’s resignation has come at a time when Tata group companies are facing headwinds, with Tata Sons’ consolidated net profit slipping 35% in fiscal 2026.

Chandrasekaran’s exit points to a purported dichotomy of two power centres within the group – Tata Sons and Tata Trusts – the same dynamic thought to have driven the late Cyrus Mistry’s exit in 2016.

written by

Deven Malkan

Cover story     

Play safe with good returns

Along with the economy, the Indian stock market too is caught in the pincer grip of the US-Iran war and tariff turmoil. Corporate India picks five dividend-paying stocks – TCS, Coal India, HCL Technologies, Hindustan Zinc and ONGC – worth betting on in these volatile times.

Corporate Performance     

Paradeep Phosphates: Double-digit rise in revenue, profit

Paradeep Phosphates has delivered a purple patch in FY26 and Q1FY27, with revenue from operations up 36% yoy to Rs 6,124 crore and PAT up 24% yoy to Rs 393 crore in the June 2026 quarter.

Banking & Finance     

Karnataka Bank: On a long-lasting winning track

Karnataka Bank kicked off the new financial year with a rare triple bonanza – its highest-ever quarterly income, an all-time high net profit of Rs 418.95 crore (up 43.3% YoY) and a record stock price of Rs 295.40 on the NSE.

Corporate Development     

KCP Sugar: Engineering arm boosts parent’s stock

Eimco-KCP, a wholly owned subsidiary of KCP Sugar and Industries Corporation, has secured its largest-ever engineering order – Rs 257 crore from Hyundai Engineering & Construction for a seawater supply project.

Portfolio Choice         

Texmaco Rail & Engineering: On fast track as rail solutions provider

Texmaco Rail is a multi-disciplinary engineering and infrastructure player and one of the largest manufacturers of railway wagons, well-positioned to benefit from Indian Railways’ Rs 16.7-lakh-crore capex push.

Ramkrishna Forgings: Vendor of choice for machinery OEMs

Ramkrishna Forgings, the second largest forgings company in India, is entering a new phase of growth with fiscal 2027 sales turnover up 19.84% and EBITDA spurting 47% in the first quarter.

JTL Industries: One-stop shop for variety of steel

JTL Industries, one of India’s fastest growing steel tube and pipe manufacturers, has expanded sales turnover five-fold over six years and is scaling up capacity through JTL Tubes Limited.

Corporate Report     

Pride Hotels: Fastest growing hotel chain in India

Meet Sureshchand Premchand Jain, the chartered accountant-turned-hotelier who has built a Rs 5,000-crore hospitality empire of 70+ hotels since 1988, and now aims for 133 properties by 2033.

Stock Watch     

Forbes Precision Tools: Tooling solutions for A-Z of industry

Renowned for ‘TOTEM’, a 58-year-old cutting tools brand, the demerged Shapoorji Pallonji group company FPTL is gearing up to grab growth opportunities across defence, aerospace, railways and electronics.

People     

Arun Misra: Every inch a banker

After nearly four decades in banking, Arun Misra retired from Bank of Baroda in 2022 and now trains the next generation of bankers as Faculty and Joint Director (Training) at IIBF, Mumbai.

August 31, 2026 - Second Issue

Industry Review

VOL XVII - 12
August 16-31, 2026

Formerly Fortune India Managing Editor Deven Malkan Assistant Editor A.K. Batha President Bhupendra Shah Circulation Executive Warren Sequeira Art Director Prakash S. Acharekar Graphic Designer Madhukar Thakur Investment Analysis CI Research Bureau Anvicon Research DD Research Bureau Manager (Special Projects) Bhagwan Bhosale Editorial Associates New Delhi Ranjana Arora Bureau Chief Kolkata Anirbahn Chawdhory Gujarat Pranav Brahmbhatt Bureau Cheif Mobile: 098251-49108 Bangalore Jaya Padmanabhan Bureau Chief Chennai S Gururajan Bureau Chief (Tamil Nadu) Ludhiana Ajitkumar Vijh Bhubaneshwar Braja Bandhu Behera

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