Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18's media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore. The new entity will be guided by three chief executive officers (CEOs), "who will lead the company into a new era of ambition and disruption", according to a joint statement. Kevin Vaz will lead the entertainment division across all platforms, Kiran Mani will head the combined digital division, and Sanjog Gupta will oversee the sports operations.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
JV to export e-carts, aim for 10% global market share, $1 bn turnover and innovation in driverless tech.
The Enforcement Directorate (ED) has alleged that Robert Vadra, husband of Congress MP Priyanka Gandhi Vadra, provided evasive responses during questioning regarding a 2008 land deal in Haryana. The ED claims Vadra placed blame on deceased associates and exerted undue influence on government officials.
'That way you're not hostage just to US sort of exports to India.'
Pakistan Prime Minister Shehbaz Sharif met with Turkish President Recep Tayyip Erdogan to review bilateral relations and reaffirm their commitment to strengthening their strategic partnership. The two leaders discussed joint ventures and enhanced bilateral investment in key sectors, aiming to achieve a $5 billion annual bilateral trade target. They also expressed gratitude for mutual support during recent tensions with India. The meeting was described as "warm and most cordial," highlighting the deep-rooted historical ties between Pakistan and Turkey.
The Uttar Pradesh government and iPhone maker Foxconn have started discussions to set up an electronics manufacturing unit in the state, sources aware of the development said. The investment pitch was made by Invest UP to Foxconn at the time of the final land allocation for the HCL-Foxconn chip joint venture Vama Sundari.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
Tata Consumer Products Ltd (TCPL) on Thursday denied reports on the exit of cafe chain Starbucks from the Indian market, terming them as "baseless". Tata in a 50:50 joint venture with US-based Starbucks Corporation operates a cafe chain in India under the brand name of Starbucks, which is the leading cafe chain in India.
'An HAL-private sector tieup is a possibility.'
JSW Paints, part of $23 billion JSW Group, on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm.
The airline plans to scale up its operations at NMIA significantly, from 36 air traffic movements (ATMs) daily on the opening day to 79 daily departures (158 ATMs), including 14 international departures by November this year.
Larsen & Toubro Ltd (L&T) is deepening its push into data centres and defence manufacturing while keeping an eye on emerging opportunities in nuclear and thermal power, chairman and managing director SN Subrahmanyan said. The engineering and construction conglomerate has invested around Rs 2,200 crore in data centres, with 32 megawatts (Mw) already operational.
In a move that signifies a major leap for India's aerospace manufacturing capabilities, the collaboration will establish a final assembly line for the Falcon 2000 jets in Nagpur, Maharashtra.
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
rediffGURU Nayagam PP, career counsellor and the founder of EduJob360, counsels students and aspiring professionals about how they can make the right career decision.
Whether in cricket or business, Kohli continues to play the long game.
ECB should offer BCCI minority ownership in Hundred to attract Indian players: Lancashire CEO
French auto major Renault on Monday said it will buy out its Japanese partner Nissan's stake in their Indian joint venture -- Renault Nissan Automotive India Private Ltd. Renault Group would own 100 per cent of Renault Nissan Automotive India Private Ltd (RNAIPL), by acquiring the 51 per cent shareholding currently held by Nissan, the company said in a statement.
JioStar, the newly formed joint venture by the merger of Viacom18 and Star India, on Friday announced the launch of JioHotstar by bringing together JioCinema and Disney+ Hotstar streaming platforms. With close to 3 lakh hours of entertainment, live sports coverage, and more than 50 crore users, JioHotstar provides compelling subscription plans tailored to diverse audience needs, starting at Rs 149, the company said in a statement.
The era where nations thrived through rigid alignments is giving way to an age where the connective State defines power. For India, that era has arrived, points out Dr Nishakant Ojha.
Media conglomerate Viacom18 Media has become a subsidiary of Reliance Industries effective December 30, 2024, after the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares. Earlier, Viacom18 Media had been a material subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL).
The US carmaker's entry into India is expected by the last quarter of the current financial year.
Reliance Industries Ltd on Friday reported a 2.4 per cent rise in its March quarter net profit as store rationalisation in retail business and improved margins in telecom helped offset weakness in mainstay oil and petrochemicals business and higher finance cost. Consolidated net profit of Rs 19,407 crore, or Rs 14.34 per share, in January-March - the fourth quarter of April 2024 to March 2025 fiscal (FY25) - was higher than Rs 18,951 crore, or Rs 14 a share, in the same period a year back, the company said in a statement.
Road Transport and Highways Minister Nitin Gadkari on Tuesday favoured giving a majority 51 per cent stake to foreign partners in joint ventures for building tunnels and detailed project reports to improve work quality. Gadkari said providing a majority stake to a foreign partner in the joint venture is necessary to ensure that only serious and technically qualified players bid for tunnel projects.
TikTok credited Trump's intervention for providing "clarity and assurance" to its service providers, enabling the app's rapid return.
Vistara will be merged with Air India on Monday night, and from Tuesday onward, the Vistara flight code will change from 'UK' to 'AI2XXX'.
"Heartbroken by the loss of Shri @RNTata2000 Ji, whose visionary leadership not only transformed India's industry but also played a pivotal role in shaping our aviation sector," Naidu said in a post on X.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
Aerospace major Rolls-Royce has announced its intention to double its supply chain sourcing from India over the next five years. The company plans to increase sourcing of complex parts for advanced aerospace engines, naval propulsion systems, diesel engines, and gas turbine engines to grow its presence and participation in India's defense sector. Rolls-Royce currently sources a wide range of high-precision parts and engine components from Indian partners for its civil aerospace, defense, and power systems businesses. The company highlights India's emergence as a preferred global sourcing hub and emphasizes its commitment to strengthening partnerships with both existing and potential Indian suppliers to develop capabilities for manufacturing complex engine components locally for global markets. Rolls-Royce highlights its established ecosystem of strategic partnerships, skilled talent, engineering and digital capabilities, service delivery, supply chain, and manufacturing in India, along with a history of successful technology transfer for licensed production of various engines in the defense domain. The company believes that strengthening the supply chain and enhancing ecosystem capabilities will pave the way for future co-production opportunities, supporting India's vision of becoming a self-reliant defense powerhouse. Rolls-Royce emphasizes its commitment to serving the needs of India's armed forces and its focus on participating in co-development opportunities for critical combat engine technologies.
Leading home-grown companies - Dixon Technologies (India), Amber Enterprises India, Tata Electronics, Chennai-based Munoth Industries, and Murugappa Group - along with global majors such as Japan's TDK Corporation, Taiwan's Hon Hai Technology Group (Foxconn), Austria's AT&S Austria Technologie & Systemtechnik AG (AT&S AG), and Japan's Murata Manufacturing Co, among others, have expressed initial interest in participating in the Rs 22,919 crore production-linked incentive (PLI) scheme cleared by the Union Cabinet, according to those privy to stakeholder discussions with the government.
Firodia talked about his plans for the EV-components business, and the components business at large for the group
The government is looking to give Bharat Global Ports a certain amount of domestic exposure after it set up the state-owned consortium to increase India's global maritime heft, officials aware of the development said. The intended domestic exposure is meant to give the consortium experience and build its credentials for international projects.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
Hindenburg Research, the forensic financial firm that challenged the Adani Group, took its name from the infamous airship that burst into flames upon arriving in New Jersey in 1937. And the counter to its damning report against the conglomerate was dubbed 'Operation Zeppelin,' named after the German dirigible airships used for reconnaissance and bombing during the First World War.
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