In a crucial victory for Birlas in their legal battle against Rajendra S Lodha for control of the M P Birla group, Calcutta High Court on Friday dismissed a petition seeking quashing of criminal proceedings against him and three others.
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
Aditya Birla Group on Wednesday raised its stake in Idea Cellular to 50.15 per cent after it bought Cingular Wireless's stake for $150 million (about Rs 650 crore).
'Aleris will bring in $3 billion of revenue. Novelis has $12 billion of revenues. If we add Hindalco's $6-billion revenue, then on a consolidated basis, we will become the world's largest aluminium company outside China.'
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
Diversified conglomerate Aditya Birla Nuvo will acquire 56 per cent stake in retail broking firm Apollo Sindhoori Capital Investments for a consideration of Rs 198.8 crore (Rs 1.988 billion), a move that will strengthen the financial services segment of the group.
It hopes to enter the business in 9-15 months. "We have plans to enter diesel generator, petrol, LPG and kerosene segment, but it will be too early to comment on any specific deal," said Kalyan Bhattacharya, president and CEO, Birla Power Solutions. "The size of the acquisition will depend on the horse power of the engines manufactured by the company. BPSL is looking at a company manufacturing diesel engines of capacities ranging between 25 horse power and 200 horse power."
Both factions of the Jamiat Ulema-e-Hind (Arshad Madani and Mahmood Madani) slammed the Bill and expressed grave concerns over the proposed legislation.
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
It will also close 30 unviable stores. The company's move comes after its net loss widened to Rs 141.2 crore in the March-ended quarter, owing to mounting losses in apparels. The loss was Rs 82.2 crore in the apparel business, against a loss of Rs 4.44 crore in the corresponding quarter of the previous financial year.
Rajendra S Lodha, the chartered accountant who has staked claim on the Rs 5000 crore (Rs 50 billion) assets of the M P Birla group
Gandhiji asked me if I had sufficient warm clothes in view of the coming cold season. I said yes. But he verified my statement by asking Miraben to search my bag to make sure. Such was Gandhiji.
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
Using brand names of parent companies will help these firms connect with new customers.
While the Tatas are looking for PE deals of about $50 million or less, the A V Birla Group is eyeing deals worth not more than $25 million. Tata Capital is banking on its ability to source deals by exploiting the existing Tata ecosystem of suppliers and customers. The Birla group, which has committed 40 per cent of the $250-million corpus it planned to raise for its PE fund, is looking to leverage its strength to source and evaluate deals.
Gandhi said the defence minister had "lied" to the family of martyr Ajay Singh, the armed forces and the youth of the country, and must apologise to them.
Voting for the second phase of Lok Sabha polls will be held on Friday for 88 seats in 13 states with Congress leader Rahul Gandhi seeking a second-straight term from Wayanad in Kerala.
The case relating to the disputed will of Priyamvada Birla was on Tuesday assigned to the court of Justice Kalyanjyoti Sengupta and its date of hearing would be announced soon.
rediffGURU Nayagam PP counsels students and aspiring professionals on how to pick the right courses and scale up in your career.
Business India has selected Aditya Birla Group chairman Kumar Mangalam Birla as the 'Businessman of the Year'
Former Prime Minister Manmohan Singh, Birla and former Coal Secretary P C Parakh were summoned.
The Aditya Birla group is close to buying the Reddy family's 66.32 per cent stake in Apollo Sindhoori Capital Investments (ASCIL), marking a re-entry of the group into the broking business.
The row over Bharatiya Janata Party MP Anurag Thakur's remarks in Lok Sabha escalated on Wednesday with the Congress submitting a notice to move a privilege motion against Prime Minister Narendra Modi for posting on 'X' a video that allegedly also contained expunged portions of Thakur's speech.
Brand name of the proposed bank has to be sent to RBI by July 1.
Tata Birla is an ordinary fare. Ravichandran and Jaggesh combo fails to enliven the magic of earlier films. Director Magadi's weak script and Guru Kiran's ordinary music are the weak links. The glamour girls do not contribute anything to lift the film.
