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.
In recent days Indian corporate houses are increasingly acquiring companies in Latin America and Europe. But on the other hand these companies are not efficiently managed.
After Reliance Industries and the Aditya Birla Group, the Tata Group is poised to become the next big name to feast on the burgeoning food retail sector.
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
An interview with Andrew Denby, who took over as the CEO, Supermarkets, of the Aditya Birla Retail Ltd six months ago. Before joining the Aditya Birla group, he had worked for retail majors like Marks & Spencer, Dairy Farm, A S Watson, etc.
The Indian economy is rapidly normalising towards pre-pandemic activity levels, even as uncertainty exists about coronavirus mutations and repeated infection waves, industrialist Kumar Mangalam Birla said on Wednesday. Vaccination is picking up pace, which would improve India's resilience against a potential third wave, the chairman of Aditya Birla Group said while virtually addressing shareholders at the AGM of group firm UltraTech Cement Ltd. Moreover, various steps taken by the RBI and the government have helped in containing the economic disruptions of the pandemic, Birla added.
Larsen & Toubro will sell its 11.49 per cent stake in the Aditya Birla Group-owned UltraTech Cement in the open market, after the latter waived its first right of refusal to buy the stake.
The company now plans to start services in Bihar, Jharkhand, Tamil Nadu and Orissa by end-December-January-2009. Idea Cellular currently runs operations in Delhi, Himachal Pradesh, Rajasthan, Haryana, Uttar Pradesh and Uttaranchal, Madhya Pradesh and Chattisgarh, Gujarat, Maharashtra, Goa, Andhra Pradesh and Kerala and holds spectrum for Bihar, Orissa, Tamil Nadu and Karnataka and licenses for the remaining six service areas.
Indian Rayon, an Aditya Birla Group company, on Friday announced its entry into the Business Process Outsourcing sector with the acquisition of TransWorks, a leading Indian ITES/BPO company, for about $13 million.
Mining baron Anil Agarwal-led Vedanta Group has bid for the most number of 14 coal mines out of 23 on offer in the first round of auction which also have aggressive bids by Aditya Birla Group, Adani and Naveen Jindal group, but was shunned by foreign players.
Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company's proposed raising of funds worth Rs 14,200 crore. Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday. The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the Extraordinary General Meeting (EGM) to be held on March 26.
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
Singh, who opened up the economy as finance minister and served as prime minister for two consecutive terms, died on Thursday at the age of 92. "History will forever honour his pivotal role in the transformative 1991 reforms that reshaped India and opened its doors to the world.
Shares of paint companies faced pressure, falling up to 5 per cent on the BSE in Monday's (February 26) intraday trade amid concerns that Grasim Industries' entry into the paint sector will intensify the competition. Asian Paints reached a 10-month low of Rs 2,850, slipping nearly 5 per cent after brokerage firm CLSA downgraded the stock following the Birla Opus launch. The paint maker's stock traded at its lowest level since April 28, 2023.
In line with the overall downtrend in the markets, a majority of large business conglomerates saw their valuations taking a dip.
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
The proposed investment will be made in aluminium, cement, telecom, retail, among other sectors, in the state over the next few years. Birla, who was in the city to discuss some project related issues with Orissa Chief Minister Naveen Patnaik, said the company also intends to launch its retail business in the state as part of its national roll out plan in the next six months.
The e-tail venture plans to initially offer apparel, electronics and footwear products.
Birlas on Monday said that the Tatas as a group were not the promoters of telecom joint venture Idea and hence not obliged to exit the business
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
'Established filmmakers want to go with the sequels of earlier hit films like Housefull 5 or Mastiii 4. They don't want to come up with fresh ideas. This is pure laziness.'
'Which is growing fast and where we are very strongly positioned.'
'It is not that employee work is not happening if you don't see it.'
The actor turned showstopper to promote Liva Crme, a new age fabric from Aditya Birla Group.
Prime Minister Narendra Modi on Thursday launched the ambitious 'Make in India' campaign to make India a global manufacturing hub, create jobs and boost economic growth.
The way BPO was conceived has undergone a huge change. Clients are looking more for innovation than just cost arbitrage; they look for more value and want to outsource all functions not core to them.
While asking firms not to worry about sharp volatility in prices, Birla said companies must make sure they do not get caught in 'comorbidities'.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
Economist Ajit Ranade chatted with our readers on March 1, and explained how the Budget affects us all.
Sumant Sinha, CEO, Aditya Birla Retail, says that Trinethra's doing well, but he's worried about high real estate prices.
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
'Investing in these funds makes sense if their net yield over better-quality funds -- corporate bond funds or banking and PSU funds -- is meaningful.'
Whether in cricket or business, Kohli continues to play the long game.
