LG Electronics India, the Indian arm of South Korean major LG Electronics, has started conducting roadshows to meet potential investors for its initial public offering (IPO), according to two sources. “As the company is planning to launch the IPO this year itself, it wants to chalk out details soon,” one of the sources said. ALSO
Reliance Industries (RIL) has retained its position as India’s most valuable company for the fourth consecutive year, as per the latest report released by Axis Bank’s private banking unit Burgundy Private and Hurun India. The Mukesh Ambani-led company was followed by Tata Consultancy Services and HDFC Bank. The 2024 Burgundy Private and Hurun India 500
Reliance New Energy Battery (RNEB), a subsidiary of Reliance Industries (RIL), has signed an agreement with the ministry of heavy industries on February 17 to secure 10 GWh capacity under the production linked incentive (PLI) scheme for Advanced Chemistry Cell (ACC) manufacturing. RIL bagged the ₹3,620 crore order in September 2024. With this latest signing
Larsen & Toubro (L&T) on Tuesday announced that it has acquired the remaining 26 per cent stake in L&T Special Steels and Heavy Forgings Private Ltd (LTSSHF) from Nuclear Power Corporation of India Limited (NPCIL), for Rs 170 crore. L&T already holds 74 per cent shareholding in LTSSHF and following this, the latter will become
With the fiscal third quarter earnings season now over, here is a look at how the FMCG industry performed during the last quarter. Elara Securities said that Nifty FMCG has underperformed Nifty 50 by 2 per cent (up at 10 per cent CAGR) since FY19. This, it added, has come after a strong 8 per
Air conditioner (AC) manufacturers may once again struggle to meet peak summer demand if it rises beyond a certain threshold, as the domestic production of compressors remains inadequate. The country currently produces around 6 million compressors annually, significantly short of the estimated requirement of 10 million units. The gap is primarily met through imports, mainly
B2B e-commerce platform Udaan has secured $75 million in Series G funding, the company’s co-founder and CEO Vaibhav Gupta announced during a townhall on Monday, according to sources. The round was led by UK-based M&G with participation from existing investor Lightspeed Venture Partners. During the townhall, Gupta also informed that the company is in advanced
India’s outsourcing landscape is undergoing a significant transformation, with 81% of organisations planning to increase outsourcing efforts over the next three to five years, according to Deloitte’s latest report, ‘The Outsourcing Compass: Decoding Strategies of Today’. This shift is driven by the growing demand for technological advancements, access to specialized expertise, and cost efficiency. As
The UK-based Prudential on Thursday announced the establishment of a standalone health insurance company in partnership with Vama Sundari Investments (Delhi), a firm owned by the HCL Group promoter. Subject to regulatory approvals, Prudential Group Holdings — a UK subsidiary of Prudential plc — will hold 70% stake in the joint venture and Vama Sundari Investments
A routine GST enquiry has opened a can of worms in India’s Rs 1.2 lakh crore advertising industry. The Competition Commission of India raid on several media agencies just ahead of the 2025 IPL season will force the industry to take a relook at pricing strategies, explains Alokananda Chakraborty What triggered the raids? Insiders say
Hindalco will invest Rs 45,000 crore over the next three years across its aluminium, copper, and specialty alumina businesses, Aditya Birla Group chairman Kumar Mangalam Birla said on Thursday. The investment will focus on both upstream operations and next-generation high-precision engineered products. Speaking at the unveiling of Hindalco’s new brand identity, Birla emphasised the company’s
The retail jewellery segment remains largely untapped, presenting a significant opportunity for major gems and jewellery companies. Amit Pratihari, managing director of De Beers Group India, in an interview with Krishna Barot, shares insights on evolving consumer preferences, the impact of lab-grown diamonds (LGDs), and De Beers’ strategic expansion in India. Excerpts: Q How is
Infra.market, a tech-enabled building materials platform, looks to tie up with mine owners and procure materials from them. The company sources aggregates (stone chips) which is one of largest raw material of concrete. “This is a part of backward integration to source raw materials,” said Aditya Sharda, co-founder of the company. The company has over 230
