Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday announced the procurement of eight state-of-the-art harbour tugs, all to be constructed by Cochin Shipyard Ltd. The total contract value, it added, is estimated at Rs 450 crore and these tugs are expected to begin delivery in December 2026 and continue until May 2028. The
UltraTech Cement, on Friday announced the acquisition of an 8.69 per cent of minority stake in Meghalaya-based Star Cement for up to Rs 851 crore. The acquisition comes after UltraTech completed the acquisition of a controlling stake in India Cements, further solidifying its dominance in the Indian cement sector. The deal marks UltraTech’s strategic investment
– By Pinaki Mukherjee India’s energy landscape is undergoing a significant transformation, with ethanol emerging as a pivotal solution to address the country’s energy security, environmental concerns, and rural economic growth. The government’s decision to advance the target for 20% ethanol blending (E20) in petrol by 2025 demonstrates the country’s commitment to cleaner energy alternatives.
VA Tech Wabag (Wabag), a water technology Indian Multinational Group, on Friday announced that it has bagged an order worth €78 million or nearly Rs 700 crore from the Lusaka Water Supply and Sanitation Company (LWSC), multi-laterally funded by the European Investment Bank (EIB) and the Kreditanstalt für Wiederaufbau (KfW) of Germany. In a regulatory
With the return of Campa Cola and the price war it initiated, the Indian soft drinks sector is currently experiencing a notable disruption. With the incumbent market leaders, Coca-Cola and PepsiCo joining the price war, it is an all-or-nothing war for a share of the consumer’s wallet in the soft drinks sector, said a report
With global supply chains increasingly tilting in India’s favour, the manufacturing sector is poised for a transformative era, Tata Sons chairman N Chandrasekaran said on Thursday in his New Year message to employees. Describing the present moment as “a new manufacturing golden age for India,” Chandrasekaran expressed hope and optimism for 2025, following a challenging
In a setback to the Burman family, the Madhya Pradesh High Court has stayed the approval granted by the Reserve Bank of India (RBI) for making an open offer to acquire an additional 26% stake in Religare Enterprises as well as the company’s annual general meeting (AGM) scheduled for December 31. Earlier this month, RBI
This year, two customers from Delhi and Dehradun spent Rs 20 lakh each on Swiggy Instamart, becoming the biggest spenders on the platform. According to a report released by the company, groceries continue to be the top category for buyers on the platform this year. In its “How India Swiggy’d 2024-Quick Commerce Edition,” Swiggy said
The Central Board of Direct Taxes (CBDT) on Tuesday asked stakeholders to continue submitting their suggestions on the new Income Tax Bill, 2025, which will be compiled and sent to a select committee of Parliament for review. In a release, the CBDT said an effort is underway to collect inputs and work on simplification of
After a 14% correction since September end, benchmark indices have recorded around 2% gains in the past two trading sessions. The broader indices, which had fallen up to 24% from their peak levels, also gained around 3%, providing much-needed relief to investors. However, the key question remains: Will this recovery sustain? Experts are divided. While
After acquiring Allianz’s 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance for Rs 24,180 crore, Bajaj Finserv is planning to explore listing of its insurance ventures. Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, said there was a regulatory nudge for listing of larger insurance companies. The boards of the
The Competition Commission of India (CCI) on Tuesday raided the offices of media agencies, including GroupM, Dentsu and IPG Mediabrands, as well as the Indian Broadcasting and Digital Foundation (IBDF), an apex body of broadcasters, over alleged fixing of ad rates and discounts, industry sources told FE. The action comes ahead of the 18th edition
After over a week of consolidation, Tuesday was a breakout day for the benchmark indices, which clocked around 1.5% growth on the back of good news on both global and domestic fronts. While the softer-than-expected US retail sales data fuelled hopes globally that the Federal Reserve could consider rate cuts, India’s lowest trade deficit in
