Asia Pacific-focused private equity firm PAG, on Monday, announced that it has signed agreements to acquire stakes in Manjushree Technopack. The firm has also acquired majority stakes in pharma focused packaging company Pravesha Industries. While PAG did not disclose valuation details, sources indicate that Manjushree Technopack has been valued at $1 billion, while Pravesha Industries
Jai and Sugandha Hiremath, promoters of Hikal, have unveiled details of a long-standing family arrangement involving the Kalyani family. The disclosure was made in a stock exchange filing under Sebi’s Listing Obligations and Disclosure Requirements (LODR) Regulations, following a recent Sebi clarification on the need to disclose family agreements still in effect. In their communication
The government does not expect any disruption to Russian oil supply in the next two months, given that US-sanctioned tankers are allowed to deliver crude until March, a senior official said on Monday. “Because there is a buying period, cargoes which are already in transit will come to us. So you will not see an
JSW Energy on Monday said it has been declared successful bidder and has received letter of intent (LOI) from the Resolution Professional for its resolution plan submitted for KSK Mahanadi Power Company (KMPCL) under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016. JSW Energy emerged as the highest bidder for KMPCL
HCLTech on Monday reported sequential growth in its revenue, net profit, and Ebitda for the December quarter, though the results fell short of Bloomberg’s estimates across key metrics. Revenue grew 3.6% quarter-on-quarter to Rs 29,890 crore, while net profit rose 8.4% sequentially to Rs 4,591 crore. However, both figures missed analysts’ expectations of Rs 30,036
Diageo India has announced the appointment of Praveen Someshwar as CEO-Designate, succeeding Hina Nagarajan, the current managing director and CEO. Nagarajan, who has led the company for four years as part of Diageo’s Global Executive Committee, will transition to a new role within the organisation.Someshwar will join Diageo India on March 1 as CEO-designate and
The financial bids for the strategic sale of IDBI Bank will likely be received by March but the conclusion of the transaction may extend to the next financial year, sources said. In December, the Reserve Bank of India (RBI) issued the ‘fit and proper’ certificate to the shortlisted bidders. Since investment bankers were on extended
The country’s third-largest IT services provider, HCLTech, added 2,134 employees during the quarter ended December, bringing its total headcount to 220,755. This marks a recovery from the previous quarter when the company recorded a reduction of 780 employees. In contrast, Tata Consultancy Services (TCS), the largest IT services company, reported a net decline of 5,370
Tata Electronics said on Friday it has bought a 60% stake in Taiwanese contract manufacturer Pegatron’s India unit that operates an iPhone plant, beefing up the Tata group firm’s position as an Apple supplier in a fast growing market. The stake acquisition in Pegatron Technology India is for Apple Inc’s iPhone plant near the southern
GB Logistics IPO and HM Electro Mech IPO have opened for subscription today, January 24. Both an SME issue, has drawn significant attention in the grey market. Let’s take a look at the key details of the two issues from GMP to subscription status. GB Logistics Vs HM Electroc Mech IPO: Subscription status As on
The brokerage firm, Nuvama, has raised its target price for UltraTech Cement to Rs 11,574 per share while maintaining its ‘HOLD’ rating on the stock. According to them, UltraTech Cement has delivered a strong performance in Q3FY25 and exceeded expectations in several key areas. However, the firm is worried on the valuation front. They maintained
Indus Towers delivered a stellar quarterly performance in Q3 FY25. Its net profit jumped 160% year-on-year. The profit performance was bolstered by significant overdue collections from a major customer, leading to a Rs 3,024 crore write-back of doubtful receivables. The brokerage houses are bullish and expect a dividend in the next quarter of the current
With Budget 2025 just around the corner, taxpayers eagerly anticipate what’s in store for their financial planning. The previous budget presented in July 2024, the first of the Modi 3.0 regime, introduced some changes under the new tax regime, from revised tax slabs to increased standard deduction. This year again, expectations are high for more
