The ongoing fundraising efforts of the 160-year-old Shapoorji Pallonji (SP) Group may allow it to tide over the immediate debt crisis, but experts said it’s time that the group focuses on a long-term solution. “Refinancing will just change the goal post but it doesn’t really solve the problem unless they do some big-ticket land sales
Investment by central government agencies and central public sector enterprises (CPSEs) rose 11.5% year-on-year to Rs 6.79 lakh crore in the first 10 months of the current financial year, reflecting a reversal of the trend of spending decline in most part of the year. The capex rise was aided by a spurt in spending by
Coal stocks at the country’s thermal power plants improved to 74% of the normative level as on February 19, compared to 62% in the same period of last year, data from the Central Electricity Authority showed. The country’s thermal plants had coal stocks of 53.09 million tonnes as on February 19 against the normative level
Mining major Vedanta’s proposal to demerge into five independent, sector-focused companies has been approved by its shareholders and creditors. According to the company’s stock exchange filing, the demerger was approved by 99.9987% of shareholders, 99.59% of secured creditors, and 99.9588% of unsecured creditors who voted in favour of the proposal. The demerger required an in-favour
Tata Consultancy Services (TCS) has collaborated with Salesforce to help customers in the manufacturing and semiconductor industries harness the power of artificial intelligence (AI) to drive business value. As part of this initiative, TCS has launched three programmes designed to support customers in these industries. These include the Semiconductor Sales Accelerator, which leverages data-driven insights
The Kalyani siblings, Baba Kalyani and his sister, Sugandha Hiremath, met in Pune on Thursday to resolve their ongoing dispute as per a suggestion from Pune civil court judge K M Jaisingani. However, the meeting remained inconclusive. ALSO READBurman Group acquires Religare Enterprises, named as promoters The judge intervened after Kalyani failed to arrive at
The Burman Group announced on February 20 that it has taken control of Religare Enterprises Limited (REL) and has been officially designated as its promoter. The Burman Group emphasised that its immediate priority is to ensure stability, enhance governance, and drive sustainable growth within the company. “Governance, trust, and integrity will remain at the core
Bharat Electronics (BEL) on Thursday announced that it has signed a contract with the Ministry of Defence for supply of Software Defined Radios (SDR) and Data Communication Terminals (DCT) for Indian Coast Guard. The order is valued at Rs 1034 crore (excluding taxes), it said in a regulatory filing. BEL elaborated, “The state of the
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%
