Billionaire Gautam Adani-led Adani Group on Tuesday said it will acquire CK Birla group firm Orient Cement at a valuation of Rs 8,100 crore as part of its expansion drive. Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore.
After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector.
The billionaire Adani family, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects, is actively seeking additional acquisition opportunities, according to bankers. As part of its $100 billion investment plan by 2030, the Ahmedabad-based group has undertaken several large-scale construction projects, including the Dharavi redevelopment, Ganga Expressway, a mega convention centre in Mumbai and airports.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Unlike many other B-schools, IIM Ahmedabad follows a cluster system of final placements process where sectors are invited in cohorts at regular intervals.
The JV between the French auto major and India's CK Birla group is aiming at production capacity of about 100,000 vehicles a year by 2020.
Europe's leading car maker, Groupe PSA, officially announced its re-entry in India this April with the Citroen brand. Citroen C5 Aircross SUV will challenge the likes of Mahindra XUV500, Tata Harrier, Hyundai Tuscon, Jeep Compass and the upcoming MG Hector. The C5 Aircross will be the first of several differentiated products from the company's vehicle manufacturing unit in Tiruvallur, Tamil Nadu.
The Encore's 1.5-litre diesel engine promises better power and torque.
According to the company's filing to bourse, in consideration of the demerger HMFCL will issue and allot to the shareholders of HML, one equity share of Rs 5 each in HMFCL credited as fully paid up for every 13 equity shares of Rs 5 each fully paid-up held by them in the capital of HML.
It is not clear whether the drop in offers is a fallout of demonetisation.
G P Birla, noted industrialist and the second most eldest member of the Birla clan, passed away after a brief illness in Kolkata on Friday evening. Birla, 86, was younger to his cousin B K Birla, who is now 90. His father, late B M Birla, was the founder of the GP-CK Birla group which has interests in automobiles, bearings, earthmoving, power transmission equipment, cement, fan, IT and consumer durables among others.
Hindustan Motors of the CK Birla group today sprung a surprise by launching, what it claimed, the first Chinese vehicle in India.
CK Birla group flagship Hindustan Motors said on Wednesday that it would launch new variants of its premium mid-size car Lancer in the next three months
CK Birla group company Hindustan Motors on Monday said it has increased the prices of premium sedan Lancer marginally by upto one per cent.
Hindustan Motors on Wednesday announced a marginal 0.5 per cent increase in Ambassador prices and 0.3-0.5 per cent on all Trekker variants following the announcement of a two per cent education cess in the Union Budget.
Making a debut in India with an SUV, Citroen's products in the next couple of years will clearly chart and define its destiny in what has become both a vibrant but also a daunting market for foreign entrants, says Pavan Lall.
'This is purely a brand sale. It includes the Ambassador with its variants. Peugeot is likely to relaunch the brand with multiple variants.'
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