Ten betel vine plantations were dismantled in the first few hours without any resistance from locals, official sources said, adding that payments would be made soon.
For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
The path-breaking Land Acquisition Bill, which seeks to provide just and fair compensation to farmers while ensuring that no land can be acquired forcibly, was passed by the Lok Sabha with overwhelming majority on Thursday.
Land acquisition for special economic zones is stuck because of a year-old directive by the Empowered Group of Ministers that bars state governments from carrying out compulsory acquisition of land for the zones.
The Hinduja group is learnt to be looking at alternative means of financing, including private credit, to fund its Rs 9,661 crore all-cash offer to acquire Reliance Capital. The regulator, Insurance Regulatory & Development Authority of India (Irdai), had earlier rejected the collateral offered by the group to raise funds. The Hinduja group was in talks with Barclays, JPMorgan, Cerberus Capital Management and Apollo Global Management to raise up to $850 million.
Amid tension in proposed Posco plant area where three anti-project activists were killed on Saturday night while allegedly making bombs, Odisha government on Sunday resumed land acquisition for the mega steel project.
Infosys, TCS, Wipro and HCL Technologies are actively pursuing acquisitions to make up for slower growth in their traditional business.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
The mega procurement proposal will shortly be placed before the Defence Acquisition Council, the defence ministry's top body on procurement, they said.
GlaxoSmithKline, the world's second biggest drug maker, said it was interested in acquisitions in India if the assets came at the right value.
The meeting took place in the backdrop of recent spat between West Bengal Pradesh Congress Committee president Manas Bhuiyan and a number of TMC leaders on the Rajarhat land issue.
BHEL, which posted a 70 per cent jump in net profit at Rs 1,621 crore (Rs 16.21 billion) over a record turnover of Rs 14,410 crore (Rs 144.10 billion), would appoint consultants on a case-by-case basis for acquisitions.\n\n
The definition of affected family includes farm labourers, tenants, sharecroppers and workers in the area for three years prior to acquisition.
Carlsberg is looking for more acquisitions in India. Plans both organic and inorganic expansion route
The BJP lost 15 of the 80 Lok Sabha seats in 2019. Union ministers have been deployed in all 15, tasked with turning the result around.
Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
Screen time, referring to the time children spend watching television or playing computer games, was found to impact the development of executive functions of brain such as working memory, planning and responding flexibly to changing situations.
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
China had financed the acquisition of embattled Yukos' core asset Yuganskneftegaz by Russia's state-owned 'Rosneft' oil last month in return of oil supplies till 2010, a senior Russian official said.
Software solutions major Teledata Informatics Ltd, which has recently completed its maiden global depository receipts issue of 900,000 shares, has shortlisted five companies in the United States and Europe for acquisition.
Ahead of a meeting of Group of Ministers, the rural development ministry sought to allay apprehensions of industries and infrastructure sectors over the controversial land acquisition bill, contending that the amendments in the legislation are investor-friendly.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The controversial Land Acquisition Bill was on Thursday cleared by the Union Cabinet, making mandatory the consent of 80 per cent of people whose land is taken for private projects.
US-based Orient Express Hotels has termed the $1.86 billion acquisition offer by Tata group firm Indian Hotels as 'unsolicited' and said it will evaluate the proposal 'carefully and respond' accordingly.
Pharmaceutical major Nicholas Piramal India Ltd on Monday said the company was looking for acquisition in United Kingdom and North America to expand its overseas operation.
Wipro is betting on artificial intelligence (AI) and Cloud computing to earn more from its biggest contributor - the banking, financial services & insurance (BFSI) sector - which brought in 35 per cent of the revenue in FY23. The Bengaluru-headquartered firm also expects its consultancy arm Capco to aid in its vision. "Over the past few years, we have made significant investments in the BFSI sector and have improved our talent, capabilities, and processes in this space - both through organic investments and with the addition of Capco," Suzanne Dann, Wipro's chief executive officer for Americas 2 said.
A total of nine procurement proposals were approved by the Defence Acquisition Council headed by Defence Minister Rajnath Singh, officials said.
The Indian oil company has been struggling to generate positive free cash flows given its already high capital expenditure programme and projected rise in its fuel subsidy outgo.
Defence equipment should be chosen on the basis of technology-transfer and co-production considerations, K Subrahmanyam observes
HUL believes that post Covid, the awareness about health and wellbeing and selfcare, has exploded and there is a mindset change from health as absence of disease, to health as a part of lifestyle.
With this, we are getting a global footprint in 29 countries and take our employee strength to 100,000.
Sun Pharma's managing director Dilip Shanghvi, says we continue to look for opportunities to expand our business in all the key geographies and markets we are focused on.
French banking major BNP Paribas is planning to sell its domestic retail broking unit, Sharekhan, according to news reports on Tuesday. The reports even named leading financial institutions as possible suitors. "We would not be able to comment on the mentioned queries at this time," said a company spokesperson in response to a query from Business Standard seeking clarification on the news item.
With substantial cash reserves, a buoyant domestic market and increasing global opportunities, almost every consumer goods (FMCG) company is looking for acquisition targets.
Some analysts have raised doubts on the wisdom of the recent deal. Though the Kashagan field has been under development for 12 years, involving an investment of almost $50 billion, the output isn't great. Even the earlier acquisition of Imperial Energy Corporation has not met the targets.
State-run Indian Oil Corporationon Tuesday said that it has earmarked $1 billion for the acquisition of good-quality producing or developing E&P assets abroad.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
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