Not content with being the country’s largest cement producer, UltraTech Cement Ltd is planning to spend Rs 12,866 crore on boosting its capacity by an additional 22.6 million tonne ... Read more
Not content with being the country’s largest cement producer, UltraTech Cement Ltd is planning to spend Rs 12,866 crore on boosting its capacity by an additional 22.6 million tonnes per annum (mtpa) on top of the 119.95 mtpa that it already has. Read more
A 68.2% increase in fuel cost, a depreciating rupee, and a covid-induced fall in demand in early January drove InterGlobe Aviation, which operates IndiGo, to a loss of Rs 1,682 cro ... Read more
A 68.2% increase in fuel cost, a depreciating rupee, and a covid-induced fall in demand in early January drove InterGlobe Aviation, which operates IndiGo, to a loss of Rs 1,682 crore in the March quarter. Read more
No one was surprised when the price of Life Insurance Corp. of India’s shares dropped on its trading debut, but for the government, the headache starts now as its ambitious disinve ... Read more
No one was surprised when the price of Life Insurance Corp. of India’s shares dropped on its trading debut, but for the government, the headache starts now as its ambitious disinvestment program looks to be in some jeopardy. Elsewhere the JSW group bought Mytrah to boost its green energy capacity, while IndiGo brought in Pieter Elbers from KLM to replace Rono Datta as its new CEO. Finally, the Supreme Court snuffed out Cyrus Mistry’s slim hope of a face-saver in his battle against Ratan Tata while the government looked set to become, even if by default, the largest single shareholder in Vodafone India. Read more
Hindalco’s US unit Novelis is shoring up its US presence with a $2.5 billion investment in setting up a new aluminum recycling and rolling plant in Alabama. In India, despite a mut ... Read more
Hindalco’s US unit Novelis is shoring up its US presence with a $2.5 billion investment in setting up a new aluminum recycling and rolling plant in Alabama. In India, despite a muted response from foreign institutional investors, the LIC IPO finally sailed through, netting the government the Rs 21,000 crore it was hoping for after various setbacks threatened to derail the country’s largest public issue. Meanwhile, with the announcement of the long-speculated L&T Infotech and Mindtree merger, the L&T group’s quest for scale in the IT services business received a boost, and Holcim’s efforts to sell its cement assets in the country reached a swift conclusion as the Adani group closed the deal with an unmatched offer. Finally, Air India’s search for a CEO may be over with the Tata group announcing that Scoot boss Campbell Wilson would head the airline come August. Read more
The country’s biggest IPO, the share sale of Life Insurance Corp. of India, went off smoothly with an enthusiastic response from retail investors, compensating for the somewhat mut ... Read more
The country’s biggest IPO, the share sale of Life Insurance Corp. of India, went off smoothly with an enthusiastic response from retail investors, compensating for the somewhat muted response from institutional investors. The Adani group, whose companies have been soaring on the bourses, is eyeing the healthcare business even as it put in a bid for the cement assets of Holcim in India. In the meantime, the Future-Amazon imbroglio doesn’t appear to be ending soon, with the US MNC now considering impleading RIL in its legal battle with its erstwhile partner. Finally, Biki Oberoi, the doyen among hoteliers in India, retired as chairman of the Oberoi group, while Tata Steel brought more joy to the markets by announcing a stock split. Read more
The world’s largest cement maker, Holcim, put its twin listed entities in India, Ambuja Cement, and ACC, on sale. Potential buyers include market leader UltraTech Cement, JSW, and ... Read more
The world’s largest cement maker, Holcim, put its twin listed entities in India, Ambuja Cement, and ACC, on sale. Potential buyers include market leader UltraTech Cement, JSW, and Adani groups. Meanwhile, Wipro chief executive Thierry Delaporte continued his aggressive inorganic growth strategy with a $540 million acquisition of SAP consulting firm Rising Intermediate Holdings, while Reliance Industries was said to be considering a bid for UK’s largest drugstore chain Boots even as it ceded 40% stake in its media company Viacom 18 to Bodhi Tree a venture of James Murdoch and Uday Shankar, former chairman and CEO of Star India. And the long-awaited Life Insurance Corp. of India IPO will finally hit the market this week, albeit at a much-reduced valuation. Read more
Market leaders Tata Consultancy Services and Infosys posted tepid quarterly numbers even as they said growth momentum would continue into the coming year. Meanwhile, investment in ... Read more
Market leaders Tata Consultancy Services and Infosys posted tepid quarterly numbers even as they said growth momentum would continue into the coming year. Meanwhile, investment in India’s green energy sector continues to flow in, with BlackRock and UAE’s sovereign wealth fund Mubadala announcing an investment of Rs 4,000 crore for a 10.53% stake in Tata Power Renewables. And even as the government tweaks the timing and the size of the mega LIC IPO, it is set to invite financial bids for another profitable PSU, HLL Lifecare. Among those in the fray to buy the maker of Moods and Saheli, are the Piramal, Adani, and Apollo groups. Read more
Even as it looks to finalize the timing of the mega LIC share sale, the government is also considering a hike in the percentage of the stake it plans to sell. Earlier reports had s ... Read more
Even as it looks to finalize the timing of the mega LIC share sale, the government is also considering a hike in the percentage of the stake it plans to sell. Earlier reports had suggested it was looking to offload 5% of the insurer’s equity, but that number may now go up to 6.5%, still short of the 7.5% it can go up to. Read more
Forced by pandemic-led closures of theatres, exacerbated by the rising popularity of streaming platforms, PVR and Inox Leisure, India’s top two multiplex chains, have agreed to a m ... Read more
Forced by pandemic-led closures of theatres, exacerbated by the rising popularity of streaming platforms, PVR and Inox Leisure, India’s top two multiplex chains, have agreed to a merger that will create the country’s largest film exhibition entity with a network of more than 1,500 screens. Read more
Invesco’s change of heart came after a Bombay high court order cleared the decks for the extraordinary general meeting (EGM) sought by the private equity company to remove Goenka a ... Read more
Invesco’s change of heart came after a Bombay high court order cleared the decks for the extraordinary general meeting (EGM) sought by the private equity company to remove Goenka as managing director and reconstitute Zee’s board with six new directors. Read more
