Hindustan Unilever Ltd (HUL) announced on Monday that its board of directors has granted in-principle approval to demerge its ice-cream business into a separate listed entity. “The Board considered different modes of separation of the ice-cream business and after due consideration, with a view to maximise value for all the shareholders, the board has accorded
After the US District Court and SEC indicted Adani Group Chairman Gautam Adani, his nephew Sagar Adani and six others in a $265 million bribery case, GQG Partners issued a statement maintaining confidence in the group companies’ fundamentals. “As the facts currently stand on 21 November, we do not see these actions as having a
Amidst the ongoing crisis being faced by Adani Group wherein its chairman Gautam Adani, his nephew Sagar Adani and six others are indicted by a US court in a $265 million bribery case, TotalEnergies SE said that it will not make any new financial contribution as part of its investments into the Adani Group companies.
There have been worries about the current US bribery charges against chairman and founder Gautam Adani along with his nephew Sagar Adani and six others could impact the cashflow for Adani Group. The conglomerate has however announced that it has enough cash balances exceeding long-term debt repayments for next 28 months. Portfolio level cash balances
After US prosecutors charged Adani Group chairman Gautam S Adani and seven others with allegedly bribing Indian government officials, Bangladesh has decided to hire a legal and investigative firm to help review key power generation contracts, including the one with Adani Power. This review could lead to changes or even cancellations of some contracts, officials
Wind turbine maker Senvion India plans to have 10 % of installed wind energy capacity in the country in the next three years from around nearly 2% now. “Senvion has around one GW of India’s 47 gigawatt (GW) installed wind energy capacity, accounting for 2.1% of the total installed capacity, and we plan to add
The government has started internal discussions on ways to revitalise the manufacturing sector, with a new set of incentives, as preparations for the Budget FY26 are underway. While investments in a clutch of sectors are already being promoted via production-linked incentives, what is being looked at now is a broader scheme, where government assistance would
It’s been a tough couple of years for Page Industries. The maker of innerwear and athleisure, retailed under the Jockey brand, has always banked on its premium fabric quality to carve out a leading share in an otherwise fragmented space. While the company managed a double-digit revenue growth in the September quarter, it must now
The Income Tax Department, on its official X handle, has alerted taxpayers to pay their last installment of advance tax for the financial year 2024-25. The last date to pay the advance tax is March 15, 2025. The I-T department has said that taxpayers paying on time not only save themselves from penalties but also
Electricity prices in the spot market rose by almost 16.9% on year so far this month and might increase further, as summer peaks. Data from the Indian Energy Exchange showed that the market clearing price in the Day Ahead Market (DAM) stood at Rs 4.57 per unit in the first ten days of March, compared
Flipkart Co-founder Binny Bansal has launched a franchising business ‘Opptra’ that will licence and sell branded consumer goods in Asia. Brands in fashion, lifestyle, home and kitchenware, electronics and general merchandise will be able to leverage Opptra’s global supply chain infrastructure to accelerate their entry into Asian markets. “Asia is driving 70% of global consumer
Here’s an acronym that you probably hear almost everyday on business television – CDMO. Contract Development and Manufacturing Organization (CDMO) are flexible third-party service providers that are entrusted with all the stages of the process of making medicines – providing services in the research and development stages, offering support in manufacturing, and providing formulating and
If you have donated Rs 5 lakh or more to a lesser-known political party, then the Income Tax Department may also be keeping an eye on you. Recently, tax officials have sent a long list of questions to thousands of individuals who made such donations in the financial year 2020-21. According to reports, in many
