Adani-owned Ambuja Cements on Tuesday announced that it has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore. Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders and the acquisition will be fully funded through internal
Go to Live UpdatesQ2 Earnings 2024 Live Updates: The fiscal second quarter earnings season is in full swing now with many major firms and all of the IT services giants having released their Q2 results. Firms like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bank of Maharashtra, Nestle India, Axis
India’s import bill for natural gas surged by 18.5% to $7.7 billion during the first half of the current fiscal compared with $6.5 billion in the same period a year ago due to a rise in consumption particularly by the city gas distribution (CGD) companies and the power sector, data from the Petroleum Planning and
Apart from higher costs and other difficulties, the disruption caused by the two war zones in the world has added to the liquidity woes of India’s exporters as they deal with longer payment schedules and the impact of the situation on export credit which is falling consistently since 2022. At the end of March 2022
The demand for tech talent (excluding freshers) from GCCs (Global Capability Centres) continued to outpace that of IT companies in the second quarter of FY25, as clients’ discretionary spending showed a slower recovery. According to industry data from TeamLease Digital, GCCs accounted for 52.6% of job openings for tech profiles in the September quarter, maintaining
Tata Consumer’s MD & CEO Sunil D’Souza believes that food inflation is putting pressure on urban spending, which is taking a toll on out-of-home consumption. In a conversation with FE, D’Souza throws light on the company’s strategy in the wake of inflationary concerns and whether volume growth will continue be weak. He also indicates how
Aditya Birla Group’s UltraTech Cement on Monday missed Street estimates on all the key fronts during the July-September quarter, primarily because of slowdown in demand due to monsoon and project delays which hit price realisations. The company’s net profit fell 36% year on year to Rs 820 crore, while revenue from operations was down 2.4%
A division bench of the the Delhi High Court on Monday deferred hearing an appeal filed by MB Finmart, a Burman Family entity, opposing the Registrar of Companies’ (RoC) three-month extension for Religare Enterprises’ annual general meeting (AGM) for 2023-24, citing an absence of the RoC’s reply. The court has set the next hearing on
The quick commerce companies in India are likely to report higher losses in the January-March quarter as compared to October-December quarter, owing to higher costs to tackle rising competition in the sector, according to analysts. “Most investors expect Q4 quick commerce losses to be higher than Q3,” BofA Securities said in a recent note. Analysts
The Central Board of Direct Taxes entered into 174 advance pricing agreements with Indian taxpayers in FY25. The number sets a new record for the agency and includes unilateral APAs, bilateral APAs and multilateral APAs. This also takes the total number of APAs signed since the inception of the program to 815. According to details shared
Adani Group plans to raise $4 -5 billion for its projects in Khavda and Mundra in Gujarat in the next few months, said sources familiar with the matter. Adani is building a 30 GW renewable energy park in Khavda, Gujarat, which will be the largest renewable energy park in the world. The plant will produce
Aditya Birla Real Estate (ABREL), formerly known as Century Textiles and Industries, has sold Century Pulp and Paper (CPP), located in Lalkuan, Uttarakhand, to ITC for Rs 3,498 crore through a lump-sum sale. ALSO READImported coal-based power plants may see tech upgrade to use local fuel JM Financial Limited acted as the exclusive financial advisor
Haldirams on Monday announced that the UAE’s International Holding Company (IHC) and Alpha Wave Global would invest in the business in the ongoing round, which also saw participation from Singapore’s Temasek. The company did not disclose the stake these two companies would acquire. However, industry sources suggested that they are likely to get around 5-6%
