On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.
The company is also looking at recruiting employees from outside India, especially for services and expertise that people in India lack.
Shree Cement may join race; units in 3 more African countries may be sold.
Three independent people with knowledge of the talks said the group had been selected in the first round and was now likely to make a formal bid.
The Aditya Birla Group is in acquisition mode again. It appears set to acquire US carbon black manufacturer Columbian Chemicals. According to two independent sources, negotiations are at the last stages, and a deal is expected to be announced next week. The size of the deal, said these sources, is expected to be around $900 million (Rs 4,100 crore).
AV Birla Group chairman, Kumar Mangalam Birla and the chief executive officer of Aditya Birla Retail, Sumant Sinha bare the details, in this open-ended conversation, about their plans for Aditya Birla Retail.
The AV Birla group flagship Grasim Industries has been an outperformer on the bourses. The company's stock price is up 56.5 per cent in the last
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".
Launching a counter offensive in the ongoing controversy over stake holding in Idea Cellular, Tatas on Tuesday dubbed the position of joint venture partner AV Birla Group as "misleading" and asserted that they were under no legal obligation to exit f
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
Vodafone plc has made it clear that it will not make any fresh equity infusion in its Indian telecom business--Vodafone Idea Ltd (VIL). Responding to a query, a spokesperson at the UK-headquartered telco said: "Just to confirm our position, there will be no new equity infusion from Vodafone Group." This is the first time that Vodafone has spoken about its stand after the government announced a telecom package.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
Tata group chief Ratan Tata on Friday remained non-committal on the ongoing tussle with the Birla group on their GSM joint venture Idea.
A choppy beginning followed by flashes of good work. Strong pedigree, yet lagging behind peers. That could be actor Abhishek Bachchan or the mobile phone service he endorses, Idea Cellular. The analogy goes further. Just like Amitabh decided to step in and shore up his son's career, Idea's parent, AV Birla Group, has taken the cellular services provider by the scruff in a bid to make it one of the top three in the business.
It may be long overdue, but consolidation in the media sector will happen very slowly and painfully.
While Wal-Mart is facing delay in the rollout of its retail plan, Carrefour SA, the world's second-largest retail chain, is still struggling to finalise its Indian partner even after six years of persistent search.
The investments include the supply chain, but exclude real estate component.
After Reliance Industries, Tata, Bharti and the AV Birla group, the Hero group is all set to enter the Indian retail sector.
A day after applying for a bank licence, Aditya Birla Group chairman Kumar Mangalam Birla on Wednesday said the new bank licence norms announced by the Reserve Bank are not discriminatory towards large corporate houses.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
Zindaginama keeps its tone hopeful and steers away from making the stories tragic or depressing, observes Deepa Gahlot.
In Agartala, the Group A match between Mumbai and Tripura ended in a draw with the reigning champions earning three points by virtue of the first-innings lead.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
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