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Mahindra and Mahindra (M&M) on Monday announced that it has entered into a share purchase agreement with Tera Yatirim Teknoloji Holding Anonim Sirketi (TERA) to sell its entire stake in Sampo Rosenlew Oy.Consequent to completion of the aforesaid transaction, SAMPO would cease to be a wholly owned subsidiary of Mahindra and Mahindra Limited. With a focus on new opportunities that garner long-term success for the company, M&M has planned this divestiture to enable SAMPO to pursue new pathways for innovation and growth building on its rich heritage and understanding of the Finnish market. "Sampo has contributed meaningfully to M&M since it became part of the group. Some of the technologies developed by Sampo have been instrumental in building M&M’s farm machinery capabilities," the company said in a regulatory filing.Sampo Rosenlew Oy was founded in 1853 to undertake manufacturing of high-quality Combine harvesters and Forestry machines. It has a manufacturing operations in Pori, Finland.The world’s largest tractor company by volume, M&M brags of a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It also has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

Sunteck Realty Ltd will launch two new ultra-luxury housing projects in Mumbai and Dubai by June next year with an estimated revenue of Rs 20,000 crore, a top company official has said. Sunteck Realty will develop these two ultra-luxury housing projects under a by-invite-only real estate lifestyle brand 'Emaance'. "We are entering into the ultra-luxury residential segment under a new brand Emaance, derived from the fusion of two words Immense and Indulgence, where each apartment cost will not be less than Rs 100 crore," Sunteck Realty CMD Kamal Khetan told PTI. The cost of the apartment will be as high as Rs 500 crore, he added. To begin with, Khetan said the company is planning to launch two high-rise, ultra-luxury housing projects at Nepeansea Road, Mumbai, and Dubai Downtown, Burj Khalifa Community. This will be the company's first project outside India. "We are targeting to launch these two projects by June next year," Khetan said, adding that the gross development value of these two proposed projects would be around Rs 20,000 crore. Sunteck Realty already owns land parcels to launch these two projects. As the ranks of global billionaires and the ultra-wealthy expand, Sunteck Realty has noted a rise in appetite for such apartments. Residences under these two projects would be priced upwards of Rs 2.5 lakh per sq. ft, placing them among the most exclusive and expensive in the country. Sunteck Realty Ltd is one of the leading real estate developers in the country. The company has a development portfolio of about 52.5 million square feet spread across 32 projects. Sunteck Realty Ltd has reported a 47 per cent increase in its consolidated net profit to Rs 33.43 crore in the first quarter of this fiscal. Its net profit stood at Rs 22.78 crore in the year-ago period. Total income, however, fell to Rs 201.53 crore in the April-June period of the 2025-26 fiscal year, from Rs 328.01 crore in the corresponding period of the preceding year.

India’s Tata Group has had a challenging 2025, losing more than a staggering $75 billion in market value this year. Notably, a significant portion of this decline occurred in the past couple of weeks, driven by challenges such as US visa restrictions and a cyberattack that halted production. According to Bloomberg data, the combined market value of the group’s 16 largest firms dropped to its lowest level in nearly two years.The group lost about $20 billion—over a fifth of this year’s total decline—since September 19, following President Donald Trump’s tightening of US work-visa rules, which weighed on Tata Consultancy Services Ltd. The coffee-to-cars conglomerate is facing one of its toughest years, grappling with a cyber incident disrupting Jaguar Land Rover (JLR) production, a fatal air crash, and renewed headwinds for its IT services business due to Trump’s “America First” stance.TCS, the group’s most valuable company, has led the slump, plunging more than 8% last week in its sharpest fall since 2020. The stock—along with peers Infosys and Wipro—declined in all five sessions following the visa fee hike. TCS shares are down 30% year-to-date.“Firms may avoid bidding for contracts requiring significant onshore staffing, which could hurt deal wins in the coming quarters,” noted Bloomberg Intelligence analysts Anurag Rana and Andrew Girard, warning that TCS and other pure-play IT companies face the highest risks.Tata Motors fell around 5% last week as the JLR cyberattack halted operations, although the luxury carmaker later secured UK support for a $2 billion loan to aid suppliers. JLR is reportedly seeking £2 billion ($2.7 billion) in emergency financing from global lenders.JLR, already impacted earlier this year by Trump’s trade war, had reported a £758 million free cash outflow in the June quarter. The cyber incident came shortly after the carmaker had turned net cash positive and cleared its net debt. Tata Motors, India’s largest EV player, has seen its shares drop 31% in the last year.Overall, shares of 12 out of Tata Group’s 16 listed entities have fallen this year. Tejas Networks has halved in value, while Trent and Nelco have both declined by nearly one-third. On the positive side, Tata Steel has been a bright spot, rallying nearly 25% year-to-date.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Sahara India Commercial Corporation Ltd (SICCL) has approached the Supreme Court seeking permission to sell a number of its properties, including Amby Valley in Maharashtra and Sahara Saher in Lucknow, to Adani Properties Private Limited. The plea, mentioned for hearing recently, is expected to come up on October 14.The application, filed through advocate Gautam Awasthi, stated the move is intended “..to outright sell various properties belonging to the Sahara Group to Adani Properties Private Limited, for the consideration and on the terms and conditions as set out in the term sheet dated September 6, 2025.”The plea, submitted as an interlocutory application in pending matters related to the Sahara Group, explained that SICCL and the Sahara Group had, with great difficulty, managed to liquidate certain movable and immovable assets over time, with proceeds deposited in the SEBI - Sahara Refund Account."Out of a total principal amount of Rs 24,030 crore, the Sahara Group, by way of sale/liquidation of their movable and immovable assets have realised an amount of approximately Rs 16,000 crore and deposited the same in the SEBI – Sahara Refund Account," it said.The plea highlighted the Securities and Exchange Board of India’s (SEBI) inability to liquidate Sahara assets despite involving reputed estate brokerage firms, noting that the deposits in the SEBI account were achieved solely through the efforts of SICCL and the Sahara Group.Following the death of Sahara Group chief Subrata Roy in November 2023, the plea said, the group lost its principal decision-maker. “The family members of the late Subrata Roy were not involved in the day-to-day business operations and management of the Sahara Group. However, considering the family members desire to safeguard the interest of the investors, the Sahara Group has decided that the assets of the Sahara Group be liquidated at the maximum value and in an expeditious manner to satisfy the orders passed by this court, to discharge the liabilities of the Sahara Group and put a close to the present contempt proceedings,” it added.SICCL said the move is in the interest of all stakeholders, particularly the investors, to ensure claims are met and maximum value is realised. It pointed out that earlier efforts to sell the assets were hampered by weak market conditions, lack of viable offers, pending litigations, and investigations by multiple agencies.“The said parallel and uncoordinated actions are not only creating confusion, conflicting narratives, and unwarranted doubt in the mind of investors/ depositors but are also effectively hampering, and are likely to further hamper, the ongoing efforts of the Sahara Group to monetise its assets and comply with the directions of this court,” the plea said.The application also noted that after Roy’s death, certain individuals attempted to deal with Sahara’s immovable assets relying on outdated board resolutions without proper authority. These attempts were addressed through complaints to protect the group’s assets and prevent unauthorised transactions.The plea seeks court approval for the sale of 88 properties as outlined in the term sheet dated September 6 between SICCL and Adani Properties. The transaction is described as a “significant breakthrough,” unlocking substantial value from Sahara’s key immovable assets while ensuring compliance with financial obligations under court orders.On September 12, the Supreme Court had ordered the disbursal of Rs 5,000 crore from over Rs 24,030 crore deposited by the Sahara Group with SEBI to repay dues to depositors of the Sahara Group of Cooperative Societies. This decision followed a similar allocation of Rs 5,000 crore under a March 29, 2023 order.With inputs from PTI