The Bajaj family feud has taken another turn with Rahul Bajaj's Bajaj Auto and its associates increasing stake in Bajaj Hindusthan.
India's largest sugar company Bajaj Hindusthan Ltd on Wednesday announced its diversification into power business with plans to set up five plants having a total capacity of 400 MW at an investment of Rs 1,600 crore (Rs 16 billion).
Demand payment of sugarcane arrears, company says there are no dues.
Bhagwat said, "The simple truth is this, Hindusthan should remain Hindusthan. There is no harm to the Muslims living today in Bharat... Islam has nothing to fear. But at the same time, Muslims must abandon their boisterous rhetoric of supremacy."
'Absolute non-violence is not only sinful, but immoral.' 'This doctrine of non-violence benumbed the revolutionary fervor, softened the limbs and hearts of the Hindus, and stiffened the bones of enemies.' A revealing excerpt from Vikram Sampath's Savarkar (Part 2): A Contested Legacy, 1924-1966.
Savarkar believed Swarajya is more than the mere geographical independence of a stretch of earth called India. There was no point in fighting and sacrificing one's life for a Swarajya (mere territorial independence) at the cost of our Svatva (self-existence) or Hindutva itself! A revealing excerpt from Uday Mahurkar and Chirayu Pandit's Veer Savarkar: The Man Who Could Have Prevented Partition.
Bajaj Auto Chairman Rahul Bajaj said on Monday there was no intention to oust Shishir Bajaj from Bajaj Hindusthan, as alleged by his nephew Kushagra Bajaj, CEO of Bajaj Hindusthan.
The Uttar Pradesh government today ordered first information reports to be lodged against all the 16 sugar mills that Bajaj Hindusthan owns in the state for allegedly failing to honour farmers' payment commitments for the crushing season 2007-08. Shishir Bajaj-controlled Bajaj Hindusthan is the country's largest sugar producer.
The decision to partially decontrol the sugar sector, the only industry left under the government control, was taken by the Cabinet Committee on Economic Affairs Thursday.
This lesser known Bajaj is quietly transforming his family business by focusing less on sugar, where he is the country's largest producer, and getting into power.
According to travel agencies, at least 15 per cent of those who booked for travel over the next few weeks have cancelled their trips to Europe. For Bangkok, the cancellation rate is as high as 30 per cent.
Stocks of sugar companies rose after the development. At the Bombay Stock Exchange, Bajaj Hindusthan, India's biggest producer, gained 4.25 per cent to close at Rs 121.35, Balrampur Chini gained three per cent and closed at Rs 88 while Renuka Sugars gained four per cent to Rs 68.
Shishir Bajaj-promoted Bajaj Hindusthan, India's largest sugar producer, is in talks with its nearest competitor Balrampur Chini Mills to acquire the 36.67 percent stake of the current promoters, the Kolkata-based Saraogis.
After signing the agreement documents on Tuesday night, the Shishir and Rahul Bajaj factions submitted the consent terms of the settlement to the Company Law Board on Wednesday and withdrew the petition.
As per financial service major Credit Suisse's India market strategy report, a host of companies, including Aditya Bira Nuvo, Bajaj Hindusthan, Adani Power, are planning to tap the capital markets in the coming months through various routes, including private placement and preferential allotments. The report advised investors, who are confident of the political outcome and global rally, to pick from the list of companies about to finish funding.
Speaking to rediff.com, police sources hinted that a faulty transformer could have triggered the blast, but no confirmation was available immediately.
The Bajaj family dispute is set to end, finally. Shishir Bajaj today sold his 25 per cent holding in the primary group investment firm Bajaj Sevashram to his brother Rahul Bajaj in an off-market deal. This was after Rahul Bajaj transferred his group's entire 29.62 per cent shareholding in Bajaj Hindusthan.
The warring Bajaj brothers, Rahul and Shishir, have finally decided to terminate a family settlement agreement after prolonged peace talks for which they had also sought additional time from Company Law Board.
An interview with Bajaj Hindusthan Limited CEO Kushagra Bajaj.
If the Congress recovers some of its earlier influence among the Dalits, the BJP will be in a quandary since the Dalits were among the party's latest acquisitions. To lose them will be a disaster for the saffron camp not only in UP, but all over India, observes Amulya Ganguli.
Groaning under the burden of huge arrears to sugarcane farmers and rising losses, leading sugar producers of Uttar Pradesh have begun filing cases against a December 2006 directive of the state government on sugarcane prices.
Calling the bluff of the country's sugar barons, the Centre has scrapped 98 per cent of the industrial entrepreneur memorandums obtained by them for setting up new production units.
Board meetings of two holding companies stayed.
The Aditya Birla group has set aside 6.5 per cent stake in Bachhraj & Co, the company that controls 24.54 per cent of Bajaj Hindusthan, for Kushagra Bajaj's wife, Vasavadatta, sources close to the development said.
They beat Mahindra United 2-1 in their last match of the National Football League.
So far in September, the S&P BSE Small-cap index has gained nearly 3 per cent as compared to a modest 0.2 per cent dip in the S&P BSE Sensex.
Promoters of companies who have pledged their shares to raise funds from banks will be asked to top up with more shares if the carnage in the market continues.
'The government is of the view that distilleries around Hapur and Bijnor would pollute groundwater in the vicinity and its spill over into the sacred Ganga. Hence, we are looking to close these distilleries to prevent them from discharging water into the open area,' said a senior UP government official.
The BJP sees investments, both foreign and domestic, as their pathways to political power and not the construction of the Ram temple or a nationwide ban on beef. It will have no option but to let commerce prevail over religious sentiments, says Amulya Ganguli.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion, the food minister said on Monday.
'Was there an element of orchestration between Mukherjee and Mohan Bhagwat about their speeches to the effect that the former would leave out any reference to Muslims while the RSS chief will not talk about a Hindu rashtra?' asks Amulya Ganguli.
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
India is the world's second-biggest sugar producer after Brazil and has been looking to offload a surplus in an already well-supplied world market.
Promoters of 517 companies have pledged nearly 46.35 per cent of their shares, the highest since the 2008 global financial crisis.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
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