India's major ports registered a 4.3 per cent rise in cargo handling to 855 million tonnes in 2024-25, an official statement said on Tuesday. The increase in traffic was driven by higher container throughput (10 per cent), fertiliser cargo handling (13 per cent), POL cargo handling (3 per cent), and handling of miscellaneous commodities (31 per cent) compared to the previous fiscal year, according to the statement.
Poddar had earlier said he would sell his stake in Mangalore Chemicals to the highest bidder.
'It will be important strategically and geographically because there is no port in India which is as close to the international shipping route as Vizhinjam.'
The low-profile chief of Deepak Fertilisers on Wednesday bought 24.46% shareholding in MCF.
Vijay Mallya was made a Member of Parliament's standing committee on chemicals and fertilisers earlier this year.
Pune firm buys 24.46% stake from open market to become largest shareholder.
The battle for the takeover of MCFL has been going on for one year.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
An open offer for acquisition of additional stake in a listed company can move forward only after issuance of 'observations' by Sebi.
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
Five members of a school management near Bantwal in Dakshina Kannada district have been booked.
Deepak Fertiliser's promoter might offer to buy Saroj Poddar's stake.
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
Sebi asked to reconsider open offer nod as KFA was identified as wilful defaulter.
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
He has also said that the overall mood of the Indian consumer remains subdued
Poddar-Mallya agreement on running MCF likely to be re-worked.
The 80-odd projects completed till now are already valued at Rs 14,000 crore.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
After being forced to resign as chairman of MCF, Mallya is now keen on increasing his stake in the company
Tendering the shares in an open offer will lead to higher taxation.
He manages to get back a majority of pledged shares.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
UB Holdings facing a slew of legal cases over its exposure to the loans of now-grounded Kingfisher Airlines and increasing pressure from a consortium of lenders, may be forced to seriously go ahead with the transaction this time.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
India has been eyeing deeper energy ties with Iran and has already lined up $20 billion as investment in oil and gas as well as in petrochemical and fertiliser sectors there.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
Diageo gets assurance, Heineken may seek one, too.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Vijay Mallya has lost control of his companies.
While it will most certainly impact his personal credit record, it will also have repercussions for his other businesses and companies he is associated with.
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