Other fashion formats such as 'Central' mall chain, 'Brand Factory' and 'Fashion at Big Bazaar' remain under Future Group and eye expansion
Idea Cellular, the GSM service provider of the Aditya Birla group, has roped in global telecom major Ericsson as equipment supplier for its GSM network in the Mumbai circle.
SBI was the top gainer after it reported lower-than-expected rise in bad loans
Three days ahead of the launch of Mobile Number Portability, Aditya Birla group firm Idea Cellular on Monday started a helpline to guide over 700 million mobile users on various aspects of the service.
UltraTech said its board will meet on Tuesday to consider a proposal from Samruddhi Cement to merge the cement business of group with itself.
Aditya Birla group flagship firm Hindalco Industries has decided to trim its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
Debt-ridden telecom operator Vodafone Idea on Thursday said its board has approved raising of up to Rs 14,500 crore, including Rs 4,500 crore from promoter entities. An amount of Rs 10,000 crore would be raised by way of sale of equity or through debt instruments such as ADR, GDR and FCCBs. In a regulatory filing, the company said the board has cleared issuance of up to 338.3 crore equity shares of face value of Rs 10 each at an issue price of Rs 13.30 per equity share for an aggregate consideration of up to Rs 4,500 crore.
After their merger Vodafone Group CEO, Vittorio Colao says India is not a Jio market alone. Aditya Birla Group CEO, Kumar Mangalam Birla says Vodafone is dominant in metro cities, while Idea is a big player in urban, semi-urban markets.
The potential entrants include the Essar Group, Punj Lloyd, Larsen & Toubro, real estate developer Atlanta, Hyderabad-based Nagarjuna Construction and Delhi-based DS Constructions.
The Novelis acquisition has done quite well for the fortunes of Hindalco.
The 2023-24 (FY24) July-September quarter (second quarter, or Q2) proved to be a mixed period for asset management companies (AMCs). While the two largest listed AMCs, HDFC and Nippon, reported robust growth in both revenue and profits, the other two, Aditya Birla Sun Life and UTI, experienced profit declines. HDFC AMC reported an 18 per cent year-on-year increase in Q2 revenue to Rs 765 crore, while Nippon's revenue rose 15 per cent to Rs 475 crore.
With increasing corporatisation of Indian television, creativity is being backed by professional management. The growth potential is huge.
Transcript of the chat with Sumant Singa, chief financial officer of the Aditya Birla Group.
In a big setback to Aditya Birla Group firm Idea Cellular, the Delhi High Court said the six licences of Spice Communications would not be transferred to Idea, since the company did not comply with the licence and merger guidelines. The court also slapped a fine of Rs 1 crore for hiding information.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Many ethical, competent corporate leaders aspire to join public life today. However, the transition to politics is far from easy, observes Indrajit Gupta.
Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
Aditya Birla group company Idea Cellular and US-based wireless operator Verizon are all set to get the Letters of Intent for long distance services following clearance of their applications by the Department of Telecom (DoT). Official sources said the applications have been put forward for the Telecom Minister's approval. Idea is awaiting LoI for International Long Distance services while Verizon's application is for both National and International Long Distance services
With Rs 17,087 crore raised so far this calendar year, the total is already 2.4 times that of the full year of 2023, which stood at Rs 7,266 crore.
The companies are expected to announce the deal soon.
This also shows that there are other skills that go into a success story than mere ideas.
Aditya Birla Group, Satyam Computer Services and Marriott Hotels India have been ranked as the top three employers in India.
After Vodafone, UK-based Vedanta Resources Plc and Aditya Birla group firm Indian Rayon also face a potential tax demand of around Rs 900 crore and Rs 45 crore, respectively, for their failure to deduct taxes on payments to buy Indian assets, said a senior government official.
TransWorks (Aditya Birla Group) has positions open in Voice Based Services.
Aditya Birla Group company Idea Cellular today said it expects to start 3G services in the third quarter of the ongoing fiscal.
"When we are building businesses with a long-term view, we are less concerned about short-term impacts. The basic growth in India, the high savings rate and low penetration of financial products suggest there is a huge yet-to-be-tapped opportunity. We believe this is a good time to be building businesses to tap that potential," says Ajay Srinivasan, CEO, Aditya Birla Group's Financial Services.
The BSE index closed down 0.18 percent at 28,659.17, its lowest closing level since Feb. 11.
Providence had bought 15 per cent in Idea Cellular in 2006 for around Rs 1,800 crore (Rs 18 billion) through its investment arm - P5 Asia Investment (Mauritius).
Idea Cellular, an Aditya Birla group company, is investing around Rs 647 crore (Rs 6.47 billion) for the rollout of operations in the Mumbai circle. The operations are expected to commence in two months time.
Aditya Birla group firm Idea Cellular on Monday made an open offer to the shareholders of Spice Communications for acquiring additional 20 per cent stake in the telecom services provider for about Rs 1,066.63 crore (Rs 10.66 billion).
While consulting firms and investment bankers preferred not to participate in the lateral placements as usual, sources say that companies such as KPMG, Aditya Birla Group, Barclays Bank, Microsoft, Infosys and Capgemini have issued the maximum number of offers.
Hindalco Industries, an Aditya Birla group company, is scouting for copper mines in Columbia, Peru and Argentina.
The case based on "random materials" like loose sheets, papers, e-mail print outs is "merit less" as they are "inadmissible materials" having "no evidentiary value under the law, the court said.
More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
The paint sector is seeing heightened competition with the entry of deep-pocketed groups like Aditya Birla and JSW. However, some brokerages see an opportunity in select stocks.
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