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Vedanta Group has emerged as the winning bidder for the debt-ridden Jaiprakash Associates (JAL), surpassing Gautam Adani's Group in a competitive acquisition process. The mining conglomerate's bid of Rs 17,000 crore translated to a net present value of Rs 12,505 crore. JAL, facing insolvency proceedings due to loan defaults, attracted multiple bidders, with Vedanta ultimately securing the deal. Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisi ...Read More >
New Delhi: Industry leaders welcomed the recently announced GST reforms, which reduce the number of tax slabs, stating that it will make tax compliance easier while also directly benefiting consumers through lower prices. Jharkhand Chamber of Commerce Joint Secretary Navjot Alang Rubal said that the reduction of the number of slabs from four to two under the new GST structure is a highly positive step. According to Rubal, this reform will greatly benefit the middle and lower-income groups as t ...Read More >
New Delhi, Sep 5 (PTI) Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore. JAL, which has interests in real estate, cement, power, hotels and roads, has been dragged into insolvency proceedings after it defaulted on payment of loans. Lenders of JAL conducted a chall ...Read More >
New Delhi, Sep 5 (PTI) Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore. JAL, which has interests in real estate, cement, power, hotels and roads, has been dragged into insolvency proceedings after it defaulted on payment of loans. Lenders of JAL conducted a chall ...Read More >
The Adani Group has significantly increased its reliance on Indian lenders, with domestic banks and financial institutions now responsible for half of its staggering debt, which exceeds Rs 2.6 lakh crore, The Times of India reported on August 25. This marks a notable rise from 40% just a year ago, as the conglomerate navigates a changing financial landscape characterised by lower local funding costs and improved credit ratings, ToI's report (by Mayur Shetty) said. In the twelve months leading u ...Read More >
Mumbai (Maharashtra) [India], August 25 (ANI): The Indian Supercross Racing League (ISRL) has announced the addition of Tricolor Motorsports as its newest franchise team ahead of Season 2. Backed by a leading US-based business conglomerate and led by industry veteran Pradeep Lala, Tricolor Motorsports marks a significant step in ISRL global expansion strategy. The entry of US-based companies into ISRL underscores growing global confidence in India motorsports potential. This collaboration brin ...Read More >
Mumbai (Maharashtra) [India], August 25 (ANI): The Indian Supercross Racing League (ISRL) has announced the addition of Tricolor Motorsports as its newest franchise team ahead of Season 2. Backed by a leading US-based business conglomerate and led by industry veteran Pradeep Lala, Tricolor Motorsports marks a significant step in ISRL's global expansion strategy. Also Read | Dane Van Niekerk Comes out of Retirement, Named in South Africa's Training Squad for ICC Women's World Cup 2025. The ent ...Read More >
New Delhi, Aug 14 (PTI) Inox Wind on Thursday said its consolidated net profit more than doubled to Rs 97.34 crore in the June quarter compared to the year-ago period, mainly due to higher revenues. It had posted a consolidated net profit of Rs 41.59 crore in the year-ago period, a BSE filing showed. Total income rose to Rs 862.56 crore during the quarter from Rs 654.64 crore in the same period a year ago. Its order execution during the quarter increased to 146 MW, with order book at 3.1 GW. ...Read More >
VMPL Bengaluru (Karnataka) [India], August 14: The Federation of Indian Chambers of Commerce and Industry (FICCI) and AMPIN Energy Transition, in collaboration with Deloitte & Sumitomo Corporation, successfully concluded its pivotal seminar titled 'Renewable Energy Transition for Commercial and Industrial Consumers in the Southern Region' at Hotel Taj MG Road. The event brought together a diverse group of industry leaders, policymakers, and C&I consumers who discussed the roadmap to achieve 100 ...Read More >
Mumbai: Cricket fans woke up to surprising news as Mumbai Indians' star and cricket legend Sachin Tendulkar's son, Arjun Tendulkar, got engaged. According to reports, Arjun exchanged rings with the love of his life, Saaniya Chandhok, the granddaughter of prominent businessman Ravi Ghai. The engagement reportedly took place on Wednesday, August 13, in a private ceremony attended only by close family and friends. Ever since the news broke online, fans have been eager to know more about Arjun Tend ...Read More >
Mumbai, August 14: Arjun Tendulkar, son of cricketing legend Sachin Tendulkar, has reportedly got engaged to Saaniya Chandok, the granddaughter of Mumbai businessman Ravi Ghai. The private ceremony reportedly took place on August 13, with close family and friends in attendance. While neither the Tendulkars nor the Ghai family have officially confirmed the engagement, media outlets have widely reported the news. The event has sparked curiosity about Saaniya's family, particularly her grandfather ...Read More >
Ahmedabad (Gujarat) [India], August 4 (ANI): The Adani Group on Monday categorically denied a media report, which had suggested a potential tie-up between the Group and Chinese companies BYD and Beijing Welion New Energy Technology for battery manufacturing in India. "We categorically deny Bloomberg's report on 4 Aug 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology. This report is baseless, inaccurate and misleading," an Adani G ...Read More >
Ahmedabad (Gujarat) [India], August 4 (ANI): The Adani Group on Monday categorically denied a media report, which had suggested a potential tie-up between the Group and Chinese companies BYD and Beijing Welion New Energy Technology for battery manufacturing in India. We categorically deny Bloomberg report on 4 Aug 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology. This report is baseless, inaccurate and misleading, an Adani Group ...Read More >
Chennai: Tamil Nadu Chief Minister MK Stalin on Monday backed West Bengal Chief Minister Mamata Banerjee for calling out the Delhi police for allegedly referring to Bengali as a Bangladeshi language, labelling it a "direct insult to the very language in which the National Anthem is composed." Stalin said such remarks were not "inadvertent errors" but a reflection of a regime that undermines India's linguistic diversity. "The Delhi Police, under the Union Home Ministry, has described Bengali as ...Read More >
India's JSW Cement has priced its ₹3600 crore ($412.72 million) initial public offering between ₹139 to 147, a newspaper advertisement showed on Monday. The cement arm of the steel-to-autos JSW conglomerate first filed to go public last August, but the country's markets regulator put it on ice for four months without disclosing a reason and approved the filing only in January this year. The firm has presence in India's southern, eastern and western regions and operates seven plants, as of fisc ...Read More >
India's first VinFast showroom will display the VF 6 and VF 7 electric SUVs, making it the first market where the company is launching right-hand drive versions of these models. Vietnamese electric vehicle (EV) manufacturer VinFast has opened its second showroom in India, located in Chennai's Teynampet area. This follows the inauguration of its first outlet in Surat a week earlier. As per ANI, the Chennai facility, promoted by Maansarovar Motors, spans 4,700 sq. ft and is the largest among the ...Read More >
Kolkata: ITC saw a marginal decline in net profit in the first quarter of FY26 to Rs 4,912 crore from Rs 4,917 crore in Q1FY25. Its revenue, however, saw a 20% jump from Rs 17,457 crore to Rs 20,911 crore.According to the company, the marginal decline in net profit was due to the demerger of its hotel business. Profit figures for Q1FY25 included Rs 97.5 crore from the hotels business. The conglomerate's profit would have been Rs 4,820 crore. The rise in revenue was largely due to cigarette and a ...Read More >
NEW DELHI: Former Chhattisgarh chief minister Bhupesh Baghel intensified his attack on the Adani Group, alleging that Enforcement Directorate's arrest of his son, Chaitanya, was a deliberate move to silence those who speak out against the conglomerate."I got the permission to meet my son for 30 minutes. There is no case against him... This is an effort to suppress any voice raised against Adani. If anyone raises their voice against Adani Group, then they will also be treated like Bhupesh Baghel' ...Read More >
July 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Industries (RELI.NS), opens new tab beat estimates for quarterly profit on Friday, powered by strong growth in its energy, retail and digital services businesses. Consolidated profit soared 78.3% to 269.94 billion rupees ($3.14 billion) for the quarter ended June 30, beating analysts' average estimate of 198.59 billion rupees, according to data compiled by LSEG. Reliance's core oil-to-chemicals segment, which contributes about 57% ...Read More >
Bengaluru: The Karnataka Commercial Tax Department has once again issued a clarification regarding the recent tax notices sent to bakeries, condiments, and tea stalls in Bengaluru. Following earlier backlash, the department had stated that traders with annual turnover below ₹1.5 crore can opt for the Composition Tax Scheme and pay only 1% tax, offering significant relief. Now, in a press release, the department reiterated that traders who have received notices should visit their respective tax ...Read More >
Hyderabad: Heritage Foods Limited, a leading Indian dairy brand, reported its highest-ever quarterly revenue of Rs11,368 million for the first quarter of FY26, registering a 10% year-on-year growth despite headwinds from unseasonal rainfall across its key markets. The company, which is celebrating 34 years of operations, attributed its strong performance to steady progress in milk procurement, resilient milk and value-added product (VAP) sales, and its continued focus on quality, innovation, an ...Read More >
New Delhi: India's most valuable company Reliance Industries (RIL) on Friday reported its highest-ever quarterly profit of Rs26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by a bumper showing of consumer businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs26,994 crore or Rs19.95 per share, in April-June 2025 compared to Rs15,138 crore earnings in the year-a ...Read More >
New Delhi, Jul 18 (PTI) Delhi Art, Culture and Tourism Minister Kapil Mishra on Friday visited the Prime Ministers Museum and Library (PMML) at Teen Murti Marg, with singer and music director Himesh Reshammiya accompanying him. The museum, which showcases the lives and contributions of India's former prime ministers, features 14 high-tech galleries equipped with interactive and immersive exhibits, including a 6D helicopter ride, virtual photo booths, a handwriting robot, a time machine and a ki ...Read More >
Mumbai: Reliance Industries Ltd, India's most valuable company, beat estimates to post a sharp growth in revenue and profit for the April-June quarter, on the back of better earnings from telecommunications and retail even as weakness persisted in its crude-based businesses. A significant one-time gain from its divestment from Asian Paints also padded up the bottomline. Commissioning of manufacturing plants in Reliance's new energy business -- on which hinges its growth over the next decade -- ...Read More >
NEW DELHI: In a renewed effort to put economic pressure on Russia, the European Union on Friday unveiled a fresh package of sanctions, which includes lowering the price cap on Russian crude oil and sanctioning Nayara Energy Ltd, an India-based refinery linked to Russian energy giant Rosneft. This marks the first time the EU has imposed sanctions involving India, a country that has heavily relied on discounted Russian crude since the start of the Russia-Ukraine war in 2022. Nayara Energy Ltd, fo ...Read More >
New Delhi, Jul 18 (PTI) India's most valuable company Reliance Industries on Friday reported its highest-ever quarterly profit of Rs 26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by consumer businesses and investment sales. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs 26,994 crore, or Rs 19.95 per share, in April-June 2025 compared to Rs 15,138 crore earnings ...Read More >
New Delhi, Jul 18 (PTI) India's most valuable company Reliance Industries on Friday reported its highest-ever quarterly profit of Rs 26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by consumer businesses and investment sales. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs 26,994 crore, or Rs 19.95 per share, in April-June 2025 compared to Rs 15,138 crore earnings ...Read More >
New Delhi, Jul 18 (PTI) India's most valuable company Reliance Industries on Friday reported its highest-ever quarterly profit of Rs 26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by a bumper showing of consumer businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs 26,994 crore, or Rs 19.95 per share, in April-June 2025 compared to Rs 15,138 crore earnings ...Read More >
New Delhi, Jul 18 (PTI) Vedanta on Friday said rating agencies Crisil Ratings and ICRA have reaffirmed their credit ratings, underscoring continued confidence in the mining major's overall business stability. In a regulatory filing, Vedanta said ICRA Ltd has reaffirmed the company's credit ratings, underscoring continued confidence in Vedanta's overall business stability and healthy financial performance, healthy financial performance and strong adherence to corporate governance. Also Read | L ...Read More >
New Delhi, Jul 18 (PTI) Vedanta on Friday said rating agencies Crisil Ratings and ICRA have reaffirmed their credit ratings, underscoring continued confidence in the mining major's overall business stability. In a regulatory filing, Vedanta said ICRA Ltd has reaffirmed the company's credit ratings, underscoring continued confidence in Vedanta's overall business stability and healthy financial performance, healthy financial performance and strong adherence to corporate governance. Vedanta said ...Read More >
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