Bank of America has been hit by a whistleblower complaint that its officials in Asia had shared "non-public information" with investors "before the bank sold hundreds of millions of dollars of stock", reports the Wall Street Journal.
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.
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.
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.
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
UltraTech Cement Ltd on Monday reported a 35.24 per cent increase in consolidated net profit at Rs 2,258.58 crore for the fourth quarter ended March 31, 2024. The leading cement maker had posted a consolidated net profit of Rs 1,670.10 crore in the January-March quarter of the last fiscal, according to a regulatory filing from UltraTech. Its revenue from operations rose 9.41 per cent to Rs 20,418.94 crore during the period under review.
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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.
In line with the overall downtrend in the markets, a majority of large business conglomerates saw their valuations taking a dip.
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.
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
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
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Only experienced investors with a high risk appetite, a grasp of market cycles, and comfort with volatility and timing risk should invest.
The actor turned showstopper to promote Liva Crme, a new age fabric from Aditya Birla Group.
While asking firms not to worry about sharp volatility in prices, Birla said companies must make sure they do not get caught in 'comorbidities'.
Musk said on Friday that he believes India-US ties are "trending positive" and that he favours an enhanced trade partnership between the two nations.
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.
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.
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
With a 35 per cent compound annual growth rate, the market for these brands is expected to reach $10 billion by 2027-28 (FY28), up from $2.4 billion now.
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.
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.
Both the promoter groups - Vodafone and Aditya Birla - have confirmed their participation of up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, in the issue.
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
Telecom operator Idea Cellular said it is on track with its plans to raise Rs 2,500 crore (Rs 25 billion) through its initial public issue and plans to clear all formalities by the month-end.
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