BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
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
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.
Congress leader Rahul Gandhi will have to resign within two weeks from one of the two seats he won in the just-held Lok Sabha elections, a constitutional expert said citing provisions in the law as well as the Constitution.
'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.'
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
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.
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.
The Indian cement industry is hopeful of greener pastures after a long period of stress led by pricing pressures and other factors. The second half of FY25 is expected to bring respite due to price hikes, cost benefits and higher volumes, said analysts. The optimistic momentum also makes cement stocks attractive, analysts added, advising to buy dips following a period of bearish sentiment in these stocks.
President Droupadi Murmu hosted a dinner for the outgoing Union council of ministers at Rashtrapati Bhavan.
Using brand names of parent companies will help these firms connect with new customers.
The event was also attended by Vice President Jagdeep Dhankhar and Lok Sabha Speaker Om Birla.
'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.'
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.
Lok Sabha Speaker Om Birla recognised Rahul Gandhi as the leader of opposition on Wednesday, a day after the Congress communicated its decision to name him for the position to the Lok Sabha Secretariat.
Before surrendering, Kejriwal paid homage to Mahatma Gandhi at the Raj Ghat, offered prayers at the Hanuman temple in Connaught Place and addressed Aam Aadmi Party leaders and workers at the party office.
Business India has selected Aditya Birla Group chairman Kumar Mangalam Birla as the 'Businessman of the Year'
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
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.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Former Prime Minister Manmohan Singh, Birla and former Coal Secretary P C Parakh were summoned.
'Expunging remarks is within the powers of the Speaker.' 'Nobody can question or challenge the Speaker's decision.'
BJP sources said the party has sought a reply from the South Delhi MP for his use of unparliamentary words.
Brand name of the proposed bank has to be sent to RBI by July 1.
In Agartala, the Group A match between Mumbai and Tripura ended in a draw with the reigning champions earning three points by virtue of the first-innings lead.
Spinner Shams Mulani (5/71) and Himanshu Singh (4/77) wreaked havoc by sharing nine wickets between them as defending champions Mumbai crushed Odisha.
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.
UltraTech Cement Ltd on Monday reported a 35.24 per cent increase in consolidated net profit at Rs 2,258.58 crore for the fourth quarter ended March 31, 2024. The leading cement maker had posted a consolidated net profit of Rs 1,670.10 crore in the January-March quarter of the last fiscal, according to a regulatory filing from UltraTech. Its revenue from operations rose 9.41 per cent to Rs 20,418.94 crore during the period under review.
