On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.
With the Birlas yet to file their objections to their auditor Rajendra S Lodha's claim over M P Birla group, a late claimant to the Rs 5000 crore (Rs 50 billion) pie decided to adopt a wait and watch policy for the time being.
Vodafone Idea on Monday paid Rs 2,500 crore to DoT and promised to pay another Rs 1,000 crore before the end of the week.
The decision reflected Birla's thinking that his stepping down would pave the way for the entry of strategic investors and allow for greater flexibility during discussions, the company said.
The bill to amend the law governing Waqf boards proposes far-reaching changes in the Wakf Act, 1995, including ensuring the representation of Muslim women and non-Muslims in such bodies.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
Aditya Birla group on Tuesday announced it had concluded acquisition of Tata group's 49 per cent stake in Idea Cellular Ltd for Rs 4,406 crore
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
The division bench of Justices F I Rebello and D G Karnik on Monday reserved orders as to whether the Birla group's petition is admissible or not. The order will be passed on Tuesday. In the present case, the issue is whether the Birla group is liable to pay capital gains tax on the share-purchase transaction worth $150 million with AT&T Mauritius (subsidiary of AT&T).
On a Prayer is a book on Birla's journey from a state of oblivion to survival, where his deep belief in spirituality and his faith in true love act as a crutch for him to go on.
A see-saw battle of arguments between the Lodha camp and the Birla group, who are fighting for control of Priyamvada Birla's Rs 2,400 crore (Rs 24 billion) assets, on Thursday unfolded before the Supreme Court.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
The Birlas on Thursday informed the Calcutta High Court that Priyamvada Birla was suffering from several debilitating diseases and not in firm health as claimed by Rajendra S Lodha who asserted she had made the 1999 'will' in his favour in her full s
'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.'
The Lok Sabha witnessed a heated debate Friday on an Ethics Committee report recommending Trinamool Congress MP Mahua Moitra's expulsion in the cash-for-query issue, with the Opposition demanding she be allowed to speak in the House, and the government contending her views were heard by the panel.
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.
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).
'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."
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
Cameras were focused on Chief Justice of India Justice Dr Dhananjay Yeshwant Chandrachud at the Independence Day event at the Red Fort in New Delhi on Tuesday morning.
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.
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.
Using brand names of parent companies will help these firms connect with new customers.
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
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.
Bharatiya Janata Party MP Nishikant Dubey on Sunday accused Trinamool Congress's Mahua Moitra of taking 'bribes' from a businessman to ask questions in Parliament and urged Lok Sabha Speaker Om Birla to constitute an 'inquiry committee' to look into the charges against her.
