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New Delhi, Jul 9 (PTI) Shares of Vedanta Ltd tumbled nearly 8 per cent on Wednesday after US short seller Viceroy Research released a report charging billionaire Anil Agarwal's mining conglomerate to be "financially unsustainable" and posing a severe risk to creditors. But later, the stock recovered some of the losses to trade 3.31 per cent down at Rs 441.10 on the BSE. Viceroy said it was shorting the debt stack of Vedanta Resources, the parent company and majority owner of Mumbai-listed Veda ...Read More >
Mumbai: Vedanta shares fell over 7 per cent during intra-day trading on Wednesday after a report by US short-seller Viceroy Research alleged that the conglomerate resembled a "Ponzi" scheme -- a claim that Anil Agarwal-owned company has vehemently denied. "The entire group structure is financially unsustainable, operationally compromised, and poses a severe, under-appreciated risk to creditors," according to the short-seller report. According to the US-based short seller, Vedanta Resources Ltd ...Read More >
New Delhi: In a major step, Mukesh Ambani-led Reliance Industries is bracing for a massive leap, charting an ambitious course to unlock its next USD 50 billion in value creation from its current USD 240+ billion market cap. The company is reportedly betting on green energy and generative AI. According to a Morgan Stanley report, the Mukesh Ambani-led conglomerate could be entering its most transformational phase yet. "We believe new energy and AI infrastructure will drive this next leg, funded b ...Read More >
New Delhi : Jindal (India) Limited, part of the B.C. Jindal Group and one of India's leading downstream steel product manufacturers, has received Letter of Approval (LoA), through its wholly owned subsidiary, Jindal India Steel Tech Limited (JISTL), for setting up a green-field steel manufacturing plant in Dhenkanal, Odisha. The company received the project approval during the High-Level Clearance Authority (HLCA) meeting, chaired by the Hon'ble Chief Minister of Odisha, Shri Mohan Charan Majhi. ...Read More >
New Delhi, July 7, 2025: Jindal (India) Limited, part of the B.C. Jindal Group and one of India's leading downstream steel product manufacturers, has received Letter of Approval (LoA), through its wholly owned subsidiary, Jindal India Steel Tech Limited (JISTL), for setting up a green-field steel manufacturing plant in Dhenkanal, Odisha. The company received the project approval during the High-Level Clearance Authority (HLCA) meeting, chaired by the Hon'ble Chief Minister of Odisha, Shri Mohan ...Read More >
MCLEOD GANJ - The Dalai Lama said Saturday he dreamed of living for decades more, as the Buddhist spiritual leader prayed with thousands of exiled Tibetans on the eve of his 90th birthday. Thumping drums and deep horns reverberated from the Indian hilltop temple, as a chanting chorus of red-robed monks and nuns offered long-life prayers for Tenzin Gyatso, who followers believe is the 14th reincarnation of the Dalai Lama. Looking in good health, dressed in traditional maroon monk robes and a fl ...Read More >
New Delhi, Jul 5 (PTI) Lenders of Jaiprakash Associates Ltd (JAL) have turned down Jaypee Infratech's request to accept its resolution plan to acquire the bankrupt diversified company. Five companies -- Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech -- have submitted their resolution plans to acquire JAL. However, lenders of JAL, on June 25, had rejected the resolution plan of Suraksha Group-owned Jaypee Infratech Ltd as the bid was submitted late and wi ...Read More >
New Delhi, Jul 5 (PTI) Lenders of Jaiprakash Associates Ltd (JAL) have turned down Jaypee Infratech's request to accept its resolution plan to acquire the bankrupt diversified company. Five companies -- Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech -- have submitted their resolution plans to acquire JAL. Also Read | Bodoland Lottery Result Today, July 05, 2025: Assam State Lottery Sambad Saturday Lucky Draw Results Declared, Check Winners List With Tick ...Read More >
New Delhi, Jul 5 (PTI) Reliance Industries Ltd's investments in new energy and artificial intelligence (AI) infrastructure are set to drive a projected USD 50 billion increase in the firm's market value, according to Morgan Stanley analysts. The oil-to-telecom-and-retail conglomerate, helmed by billionaire Mukesh Ambani, is gearing up for its next phase of value creation. Also Read | Shillong Teer Results Today, July 05 2025: Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Ni ...Read More >
New Delhi [India], July 4 (ANI): New energy, AI infrastructure and funding from existing energy verticals of Reliance Industries Ltd will be key for the Indian conglomerate's next leg of value creation, Morgan Stanley has said in a report. Besides, consumer vertical multiples of Reliance are also supportive for the value creation, multinational investment bank Morgan Stanley said in its July 3 report. Also Read | 'Chakka Jam' in Bihar on July 9: RJD Leader Tejashwi Yadav Announces Mahagathband ...Read More >
Nagpur: The Nagpur Metropolitan Region Development Authority (NMRDA) has almost completed the Rs 132.49 crore phase 1 of the Tajbagh renovation and beautification project and is now awaiting Rs 95.87 crore to start phase 2 of the project. Under the first phase, NMRDA strengthened and beautified the main dargah, constructed a shopping complex, a choti dargah, shops, and other structures, including marble flooring. According to NMRDA sources, Phase 1 of the project received Rs 132.49 crore adminis ...Read More >
MUMBAI: The market is warming to large private credit deals in India, where local borrowers are typically less levered than their peers in the rest of Asia, according to Indranil Ghosh, managing director and head of pan-Asia special situations at Cerberus Capital Management. Cerberus, which has US$65bil under management globally, was among the anchor investors in Shapoorji Pallonji Group's US$3.4bil financing, the country's largest private credit deal to date. While deals of that scale are sti ...Read More >
New Delhi, Jul 3 (PTI) Reliance Retail Ventures Ltd (RRVL) has picked a minority stake in UK-based FACEGYM for an undisclosed sum and will launch the facial fitness and skincare brand in India, a statement said on Thursday. The company said this investment is part of its expansion in the high-growth beauty and wellness space. Also Read | RBI Bank Holiday List for July 2025: Banks To Remain Closed on These Days This Month, Check Region-Wise Bank Holidays Dates. "Through this partnership, Relia ...Read More >
New Delhi [India], July 2 (ANI): In FY 2025, Global Capability Centres (GCCs) in India showed a clear preference for larger office spaces despite a slight decline in the number of overall transactions. The number of GCC transactions fell by 4 per cent to 305, but the total leased office area grew significantly according to a report by real estate services firm Vestian. Large transactions -- defined as deals above 1 lakh square feet -- increased by 44 per cent, rising from 15.8 million sq ft in ...Read More >
New Delhi, 2 July 2025: Over the past couple of years, GCCs have been the primary growth driver of India's office market This growth has been fueled by cost optimization strategies, a skilled talent pool, rapid infrastructure development, favourable government policies, ease of doing business, and a supportive business environment. As per Vestian's latest report, GCCs accounted for 42% of the pan-India absorption in FY 2025, registering a marginal increase from 41% a year earlier. In terms of v ...Read More >
Chennai : TAFE, one of the world's largest manufacturers of tractors and farm equipment, announced today that a comprehensive settlement and resolution has been reached with AGCO on all matters relating to brand, commercial issues and shareholding. The settlement encompasses the following key features: · Ownership of Massey Ferguson brand will rest with TAFE as the sole and exclusive owner for India, Nepal and Bhutan including all rights, title and interest in "Massey Ferguson" and related tra ...Read More >
BusinessWire India Chennai (Tamil Nadu) [India], July 1: TAFE, one of the world's largest manufacturers of tractors and farm equipment, announced today that a comprehensive settlement and resolution has been reached with AGCO on all matters relating to brand, commercial issues and shareholding. The settlement encompasses the following key features: * Ownership of Massey Ferguson brand will rest with TAFE as the sole and exclusive owner for India, Nepal and Bhutan including all rights, title a ...Read More >
New Delhi, Jul 1 (PTI) Bangladesh made its single largest payment of USD 437 million in June, clearing pending dues, including carrying costs, and issues related to the power purchase agreement, reaffirming the Indian conglomerate's asset as a reliable and cost-competitive power source for meeting the country's growing energy needs, sources said. Bangladesh is now regular in payments. Additionally, an LC (Letter of Credit) worth about two months of billing and sovereign guarantee for all dues a ...Read More >
July 1 (Reuters) - Indian firms could raise some $2.4 billion through IPOs in July, investment bankers said, raising hopes of a sustained revival in primary offerings after demand was dented by the U.S. trade war and global geopolitical tensions earlier this year. That amount would mark the strongest month since December and would follow a robust $2 billion raised in June, though most of that was raised by one company, HDB Financial Services. Education loan provider Credila Financial Services, ...Read More >
New Delhi: India's $1.2 billion AI Mission is turning into a big opportunity for homegrown cloud service providers, due to an increase in graphic processing unit (GPU) demand and government-backed infrastructure procurement. Local firms like Reliance Jio Platforms,Tata Communications Ltd and Hiranandani Group's Yotta Data Services are witnessing significant growth, buoyed by the Union government's push to build a massive compute backbone for artificial intelligence (AI). This is because these c ...Read More >
New Delhi: Sachin Katti is the name of a man who has made waves in the ever-evolving field of semiconductors and artificial intelligence and his story is a remarkable one. Sachin Katti spent his childhood in Belagavi, Karnataka and from there crossed many paths to become Intel's new chief technology officer and chief AI officer. His appointment at Intel is effective from April 18, 2025. It comes at a time when Intel is not only restructuring its leadership but also betting big on AI as a core p ...Read More >
Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed Executive Director on flagship Reliance Industries, will be paid ₹10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youn ...Read More >
New Delhi: Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed Executive Director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks, including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive direct ...Read More >
MUMBAI: The BJP rushed to the defence of the state government over its decision to introduce Hindi as an optional language for Classes 1 to 5 after the Thackeray cousins announced their decision to hold a joint morcha against "imposition" of Hindi in state schools.CM Devendra Fadnavis on Friday said Marathi is compulsory, Hindi is optional. "Basically, students can learn any Indian language. We have accepted the three-language policy. When NE was introduced, the Uddhav Thackeray govt was in offi ...Read More >
Kolkata: After a 54% jump in salary in 2023-24, the remuneration of ITC chairman Sanjiv Puri remained almost flat in 2024-25, per the annual report of the FMCG, tobacco and agri major.Puri's total remuneration was Rs 25.6 crore in 2024-25, compared to Rs 25.2 crore in 2023-24. In FY25, his basic salary was Rs 3.5 crore, perquisites Rs 73 lakh and performance incentive Rs 21.4 crore.Puri drew a basic salary of Rs 3.1 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus of R ...Read More >
Mumbai (Maharashtra) [India], June 27 (ANI): JSW Paints Limited, on Friday, entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) from Akzo Nobel NV and its affiliates, for a maximum consideration under the Share Purchase Agreement of up to Rs 8,986 crores, subject to certain closing adjustments (Proposed Transaction). The Proposed Transaction is subject to approval from the Competition Commission of India and the completion of a mandatory t ...Read More >
Mumbai: JSW Paints has agreed to acquire Akzo Nobel's India business, valuing the company at Rs 12,000 crore (approximately $1.1 billion). This will make the paint-maker the fourth-largest in the now highly competitive domestic paints market. Ending months of negotiations, JSW has agreed to pick up 74.76% stake in the Akzo Nobel India for Rs 8,986 crore, an over 17% discount to Thursday's price. ET in its May 26th edition was the first to report that JSW had agreed for the billion dollar acquis ...Read More >
Mumbai (Maharashtra) [India], June 27 (ANI): JSW Paints Limited, on Friday, entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) from Akzo Nobel NV and its affiliates, for a maximum consideration under the Share Purchase Agreement of up to Rs 8,986 crores, subject to certain closing adjustments (Proposed Transaction). The Proposed Transaction is subject to approval from the Competition Commission of India and the completion of a mandatory t ...Read More >
Mumbai, Jun 8 (PTI) A consumer redressal commission here has said if meat-based food hurts a "strictly vegetarian" person's religious sentiments, why should the individual opt to order from a restaurant serving both veg and non-veg items. It seems reasonable that "a prudent person would be able to distinguish between veg and non-veg food before consuming," the District Consumer Disputes Redressal Commission, Mumbai Suburban (Additional) said in an order passed last month. The commission dismis ...Read More >
NEW DELHI: India's second richest person Gautam Adani received a total remuneration of Rs 10.41 crore in the fiscal year ended March 31, 2025, lower than most industry peers and his own key executives. Adani, 62, drew salaries from two out of the nine listed companies in his ports-to-energy conglomerate, the latest annual reports of the listed entities of the group showed. His total remuneration was 12 per cent more than the Rs 9.26 crore he had earned in the previous 2023-24 financial year. ...Read More >
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