Adani Ports has agreed to acquire DhamraPort in Odisha from Tata Steel and L&T Infrastructure Development Projects (L&T IDPL) for about Rs 5,500 crore.
While companies in India are busy using the platform provided by movies to promote their brands and products, home-grown steel major Tata Steel has sponsored a commercial film to talk about environmental issues. Hello Zindagi, a movie venture supported by Tata Steel and Dhamra Port Company Ltd, which released on March 5, highlights the sensitive issue of the conservation of Olive Ridley turtles in the story.
Street believes premium valuations justified, as port traffic is expected to grow at a CAGR of 16% over FY14-16.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
CII, in a communication with the state industries department, cited it had a packed schedule for the year and the dates frozen for the Make in Odisha conclave clashed with a major national summit hosted by the industry body.
Gains were led by Tata Motors amid robust sales in June along with select financials.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
Needs funds for Odisha plant expansion, to cut high debt.
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
India Inc has few leaders who are likely to grab headlines in 2015.
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