A Canadian company will be manufacturing auto parts for Tata's Nano, as more Canadian companies look for business avenues in India.
Billionaire Mukesh Ambani's Reliance Industries Ltd has bought Britain's iconic country club and luxury golf resort, Stoke Park, for 57 million pounds (about Rs 592 crore). The acquisition adds to Reliance's current stake in Oberoi hotels and hotel/managed residences in Mumbai that it's developing. Over the past four years, Reliance has announced $3.3 billion in acquisitions with 14 per cent in retail, 80 per cent in technology, media, and telecom (TMT) sector, and 6 per cent in energy. The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance's consumer and hospitality assets, the firm said in a filing late on Thursday.
The teams were from Gennova Biopharmaceuticals Ltd Pune, Biological E Ltd Hyderabad and Dr Reddys Laboratories Ltd Hyderabad.
While declining to comment on the intended takeover bid for JLR by Tata Motors, another group company, Myers said the relationship was close to four years old.
Japanese auto major Nissan on Wednesday said it is discontinuing Datsun brand in India, nine years after the company kicked off the marque's global relaunch in the country. Having failed in its ambitious global relaunch of Datsun, Nissan had in 2020 discontinued the brand in Russia and Indonesia, the other two countries along with South Africa and India which were marked as key markets targeting the entry level car segment. Confirming the move to discontinue the Datsun brand, Nissan India in a statement said, "Production of Datsun redi-GO has ceased at the Chennai plant (Renault Nissan Automotive India Private Ltd). "Sales of the model still continue (till the stock lasts)."
Bajaj Auto Ltd, the country's second largest two-wheeler manufacturer, on Monday said it has picked up 14.5 per cent stake in European sports bike maker KTM Power Sports AG for more than Rs 300 crore (Rs 3 billion).
The shopping day, similar to Cyber Monday and Black Friday in the United States, comes less than eight weeks after Alibaba's record $25 billion public share listing in New York.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Ajit Mishra answers reader queries on the stock market.
Only 9 per cent of the over 2,300 employees of the Airports Authority of India (AAI) working in Delhi airport have opted for a voluntary scheme to join the GMR group-promoted Delhi International Airport Ltd (DIAL), the public-private joint venture that is modernising the airport.
Now, the National Consumer Commission has come to the rescue of the car owner and directed Daimlerchrysler India Pvt Ltd - the makers of Mercedez-Benz - to either replace the car, which suffered from over-heating, or refund its price.
Pharma company Wanbury Ltd on Monday said it will acquire the branded generic business of Spain-based Industrial Farmaceutica Cantabria through Cantabria Pharma SL for 50 million Euro.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The JV was supposed to get at least 45 per cent stake.
Continuing with his acquisition juggernaut on foreign shores, liquor baron Vijay Mallya of United Breweries Group has now set his sights on New Zealand based company Independent Liquor Ltd.
Jaypee Infratech's financial creditors on Monday deferred the voting process on Suraksha group's offer to acquire the realty firm and will decide later this week whether bids of Suraksha group as well as NBCC should be considered again. Days after NBCC strongly objected to the Committee of Creditors (CoC) rejecting its offer and also questioned the jurisdiction of Interim Resolution Professional (IRP) Anuj Jain, the creditors held a meeting to discuss NBCC's addendum to its existing offer. The CoC, at its meeting on Monday, decided to conduct voting on May 27-28 on whether both contenders -- Suraksha group and NBCC -- should be allowed to submit their resolution plans for Jaypee Infratech Ltd (JIL), which went into insolvency proceedings in 2017.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bullish on the private FM radio business, Rupert Murdoch's Star group will pick up 20 per cent equity in radio company Music Broadcast Pvt Ltd.
India's crude oil import bill is set to exceed $100 billion in the current fiscal year ending March 31, almost double its spending last year, as international oil prices trade at seven-year highs. India spent $94.3 billion in the first 10 months (April-January) of the ongoing financial year that started April 1, 2021, according to data from the oil ministry's Petroleum Planning & Analysis Cell (PPAC). It spent $11.6 billion in January alone when oil prices had started to surge.
China's state-run Sichuan Airlines has suspended all its cargo flights to India for 15 days, causing major disruption to private traders' efforts to procure the much-needed oxygen concentrators and other medical supplies from the country despite Beijing reiterating its readiness to help India to deal with the latest surge of COVID-19 cases.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
De-allocation could raise import bill by $3 billion, add to coal shortage.
The equity firm has signed a definitive agreement to acquire 2.11 per cent stake for a consideration of about Rs 252 crore (Rs 2.52 billion) in the National Stock Exchange of India Ltd, Norwest Venture Partners said. This would be the first FII investment under new policy subject to the regulatory approval, it said.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
Amazon's rivalry in India with oil-to-retail conglomerate Reliance Industries looks set to head to the cricket field, where they will likely battle media heavyweights for telecast rights to the Indian Premier League (IPL) with its hundreds of millions of viewers.
The banks have asked the court to demand his return and to impound his passport.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
iGate Global Solutions Ltd on Monday said it has acquired 5 per cent equity stake in US-based Loan Pro LLC enhancing its existing stake to 60 per cent by July 1.
Shares of the company rose more than 1 percent to $99.44 in heavy trading.
In a move that would put India on the global aviation technology map, the government on Thursday approved the creation of a joint venture company by public sector company Hindustan Aeronautics Ltd and French firm SNECMA Moteurs for manufacture of spa
A Mumbai court on Wednesday rejected the bail plea of businessman Raj Kundra, arrested in a case of alleged creation of pornographic films and publishing them through apps, after the prosecution contended the police investigation was still on and his release at this juncture will derail the probe.
'Banking is a business of trust.'
After getting rapped for accepting Vedanta group's bid that would give just 5 per cent of their outstanding loans, lenders to Videocon Industries on Monday approached the insolvency appellate tribunal NCLAT seeking fresh bids for the debt-laden consumer durable firm. Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15 per cent of the admitted claims of Rs 64,838.63 crore of lenders. SBI, the leading lender of Videocon Industries, has approached the National Company Law Appellate Tribunal (NCLAT) requesting for a rebidding of the 13 companies of the debt-ridden group, on account of strong observations against Rs 2,962 crore takeover bid by Anil Agarwal's Twin Star Technologies.
The ED probe pertains to alleged financial irregularities in the redevelopment of Patra Chawl, a tenement, and related financial transactions involving his wife and associates.
The three companies would jointly invest in setting up a manufacturing unit at Manesar in Haryana, expected to be operational by end of calendar year 2008. The facility, when fully operational, would have a capacity to produce five lakh units per annum, MSIL said in a statement.
For the first time in two years, schools in the national capital will reopen completely in offline mode from April 1 with the hybrid mode of operation coming to an end.
