Commerce and Industry Minister Anand Sharma on Wednesday appeared to share industry's concerns over naming Kumar Mangalam Birla in an FIR in coal scam case saying it was unfortunate and could raise questions over investor confidence in the country.
Parliament officials said Birla was upset at the behaviour of both the Opposition and Treasury benches during the passage of bills in the Lok Sabha on Tuesday.
Trinamool Congress MP Mahua Moitra on Wednesday wrote to Lok Sabha Speaker Om Birla flagging alerts received by several opposition leaders about 'state-sponsored' attacks on their iPhones, and urged him to provide them protection to continue doing their duties.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Aditya Birla Retail is looking to increase its total number of supermarkets in the country to 500 by March, Sumant Sinha, CEO, Aditya Birla Retail said. "From the current 350 we will be scaling up our supermarkets to 500 by March 2008," he said, while announcing the re-branding of Fabmall grocery supermarkets to 'more'.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Opposition leaders on Saturday stepped up pressure on Lok Sabha Speaker Om Birla for stringent action against Bharatiya Janata Party's Ramesh Bidhuri over his derogatory remarks against Bahujan Samaj Party MP Danish Ali in the House.
Lok Sabha Speaker Om Birla on Wednesday admitted a no-confidence motion moved by Congress MP Gaurav Gogoi against the Narendra Modi government after a head count of over 50 MPs as required under the rules.
The acquisition of Trinethra Super Retail would put the Aditya Birla group ahead of competition, including Reliance, analysts tracking the development said.
The Aditya Birla Group is back in acquisition mode, as group firm Aditya Birla Nuvo may bid for the carbon black division of Germany's Evonik Industries. The division, with annual sales of $1.3 billion and 1,700 employees across 12 countries, is the second largest in the world.
Justice Sengupta 'released' the matter before the start of the hearing on Monday, citing 'compelling circumstances' without giving further details.\n\n
A lookout notice has been issued against industrialist Yash Birla in connection with a cheating case registered against his firm Birla Power Solutions, police said.
Trinamool Congress leader Sudip Bandyopadhyay announced that the opposition parties will meet at Congress president Mallikarjun Kharge's residence on Thursday morning to discuss the issue.
Selling in index heavyweights, including Infosys, TCS, ICICI Bank and Reliance Industries, dragged the benchmark indices into the negative for the second straight session, analysts said. Among the Sensex shares, Asian Paints fell the most by 3.9 per cent as analysts expressed concerns over rising competition in the domestic paints market following the entry of Aditya Birla group company Grasim Industries into the paints segment. IT shares Infosys, TCS, HCL Tech, Wipro and Tech Mahindra continued to slide amid inflation concerns in the US market.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
By his own admission, the last 30 months have been one of the toughest in Thomas Varghese's 29-year career. The 50-year-old chief executive of Aditya Birla Retail, however, quickly adds that they have been 'very interesting and challenging too'.
The Birlas have filed a criminal case against Rajendra Lodha alleging that he was trying to convert some of the group's trust property in his own name for personal gain.
Although net inflows into equity mutual funds deteriorated month-on-month (M-o-M) in March 2024 to Rs 22,576 crore (excluding Hybrid), down 15 per cent M-o-M (up 12 per cent Y-o-Y), asset management companies (AMCs) had a great year with robust growth in assets under management (AUMs). AMCs are likely to report strong PAT growth (30-40 per cent Y-o-Y) in Q4FY24 on the back of AUM growth. In Q4FY24, domestic mutual fund (MF) industry's quarterly average AUM grew by 34 per cent Y-o-Y and 10 per cent quarter-on-quarter (Q-o-Q) to Rs 54 trillion ($652 billion).
In its petition, Rameshwara Jute Mills, an MP Birla group company, has prayed that the board of directors of the Birla Corporation and other M P Birla group companies should be superseded by independent people, as after the death of R S Lodha, there was no one to represent the company. Opposing it, the Lodha camp submitted before the board that the petition was not maintainable and that there was no need to appoint any chairman of the group.
A change is in the wings, though perhaps not right now, for Basant Kumar Birla's Kesoram Industries. Birla, who is 90 and the chairman, says his daughter, Manjushree Khaitan, will manage Kesoram, but under his grandson, Kumar Mangalam Birla.
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
Talks in final stages, but both sides deny move.
Santiago Martin has funded Rs 1,368 crore to political parties between October 2020 to January 2024 through electoral bonds.
India's resource-hungry corporations are going aggressive to acquire natural resource assets overseas.
Telecom to Telekom Malaysia in an attempt to complete the merger, sources involved in the negotiations said, declining to be identified. The group has hired Enam Financial as adviser to the transaction. Investment banking sources said the lawyers from both the parties are now busy structuring the deal so that the acquisition meets all the regulatory norms of the country and the Birlas retain control over Idea Cellular.
The spat between the partners of telecom giant Idea turned murkier, with Birlas debunking the claims of Tatas that as a group they are not promoters and dubbing their termination notice as "illegal and malafide".
"A person cannot be punished twice for the same offence," a committee member said, adding that even BJP members took a "soft view" of the issue and were in favour of revocation of Chowdhury's suspension.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
Both Houses of Parliament were adjourned sine die on Thursday, a day ahead of the scheduled end of the Winter session, that saw a security breach in the lower house, suspension of over 140 MPs and the expulsion of Trinamool Congress leader Mahua Moitra.
With six acquisitions in a little over a year, Birla has charted out a bold expansion path for his group.
The acquisition of the debt-laden Binani has catapulted Birla-owned UltraTech to the top spot in India, leaving it free to turn attention to overseas market
The government on Wednesday said big cement companies owned by Birlas and Ambuja group have shown interest in buying the non-functional plants of Cement Corporation of India.
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