Murugrappa Group on Tuesday said it has bought 37.48 per cent stake in Singapore based DBS Bank making it to hold controlling stake in their joint venture company Cholamandalam DBS Finance Ltd.
Valli Arunachalam had alleged that the group promoters have a gender bias against women getting into the family business and, hence, she and her sister were denied a berth on AIL's board.
Murugappa Group, promoter of Parrys Confectionery Ltd, on Friday divested its stake representing 60.39 per cent to leading $900 million (Rs 4,000 crore) Korean firm Lotte Confectionery Company Ltd.
'Instead of one or two families controlling 10% to 15% of GDP, it has to be broad based. Then, the resilience of the economy also will be higher.' 'Then, if something happens to one business, it will not hurt the economy badly.'
Which were India's first companies that still exist today? Many trace their origins to over a century back. These venerable organisations are business entities. But they chronicle the beginnings of Corporate India.
The development comes after the shareholders of Ambadi Investments, the holding company of the Rs 38,100-crore Murugappa Group, voted against the induction of 59-year-old Valli Arunachalam, the eldest daughter of former executive chairman M V Murugappan, into its board.
Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.
Yet the organisers expect a strong field and good fare in the tournament.
It is the country's richest prize money (Grade-A) hockey event with the winner set to get Rs 1.30 lakhs and a glittering gold cup.
Leading home-grown companies - Dixon Technologies (India), Amber Enterprises India, Tata Electronics, Chennai-based Munoth Industries, and Murugappa Group - along with global majors such as Japan's TDK Corporation, Taiwan's Hon Hai Technology Group (Foxconn), Austria's AT&S Austria Technologie & Systemtechnik AG (AT&S AG), and Japan's Murata Manufacturing Co, among others, have expressed initial interest in participating in the Rs 22,919 crore production-linked incentive (PLI) scheme cleared by the Union Cabinet, according to those privy to stakeholder discussions with the government.
The Rs 4,200 crore (Rs 42 billion) Murugappa group is toying with the idea of including a foreign strategic partner in its mutual fund arm Cholamandalam AMC, which plans to double its business to Rs 2,500 crore within a year.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
The brand new terminal at the Indira Gandhi International Airport of New Delhi marks the culmination of a long journey for Grandhi Mallikarjuna Rao.
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
From Tetley Tea to Jaguar Land Rover and Air India, Ratan Tata has ticked off almost every item on his bucket list. However, one that remains unfinished is the electric version of his small car, the Tata Nano. A concept entrusted to Coimbatore-based Jayem Automotives (Jayem Auto) is still on the shelves, despite nearly 400 cars being launched, primarily due to Covid-19 and new crash norms.
If Indian companies do not understand the roots of India's culture and genius, they will not succeed
Tamil Nadu is leaving no stone unturned in marketing its upcoming global investors meeting on January 7 and 8. While business veterans are promoting the positives of the state's industrial climate through the 'Titans of Tamil Nadu" campaign, the state is narrating the human stories behind its robust industrial growth via the 'One Trillion Dreams' campaign. Among the industry bigwigs, who are showcasing Tamil Nadu to the world through this mega marketing initiative include Venu Srinivasan of TVS Motor Company, K M Mammen of MRF Ltd, Pratap Reddy of Apollo Hospitals, P R Venketrama Raja of Ramco Group, Mallika Srinivasan of TAFE; and Vellayan Subbiah of Murugappa Group.
Nagarathars are threatened by dwindling interest in entrepreneurship among its younger members.
Style diva Kanika Subbiah tells you how to mix fashion and style and make an instant impression!
Latest in generational change trend in South Indian majors.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
These trusts are being registered under a new framework.
The Satyam Computer Services board is expected to induct former managing director of Tata Chemicals Homi R Khusrokhan on the company's board of directors as Executive Director and former chief financial officer of Murugappa group Partho S Datta as Director (Finance).
Bicycle manufacturer TI Cycles, a part of the $3.2 billion Murugappa Group, on Thursday introduced India's first bicycle made from carbon, 'Montra'.
The DBS venture has been under financial stress of late.
Cholamandalam Distribution Services Ltd on Wednesday said it has entered into a tie-up with UTI Investor Services Ltd to process IT PAN number applications in the country.
Dial-a-holiday package starts at Rs 10,000 for domestic holiday, and the international holiday package starts at Rs 20,000.\n
With the arrival of foreign sanitaryware brands, consumer is spoilt for choice.
Lotte Confectionary Company Ltd has announced its open offer to acquire additional 20 per cent stake in Parrys Confectionery Ltd from equity shareholders at Rs 283.25 per share.
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