Star discus thrower Krishna Poonia signed a two-year sponsorship deal with Hindustan Zinc Limited on Thursday.
The Tamil Nadu government had, on May 28, ordered the state pollution control board to seal and "permanently" close the mining group's copper plant following violent protests over pollution concerns.
SC overrules order to shut down Tuticorin plant but asks the company to pay up for ecological damage.
The National Company Law Appellate Tribunal on Monday stayed industrialist Anil Agarwal's Twin Star Technologies' Rs 2,962.02 crore-takeover bid of debt-ridden Videocon Industries. A two-member NCLAT bench headed by its Officiating Chairperson Justice A I S Cheema stayed the order passed by the Mumbai bench of the National Company Law Tribunal on June 9. The National Company Law Appellate Tribunal's (NCLAT) direction came over two petitions filed by unsatisfied creditors -- Bank of Maharashtra and IFCI Ltd. The appellate tribunal has issued notices to the Committee of Creditors, the Resolution Professional of Videocon and the successful resolution applicant Twin Star.
The state-run Maharashtra Industrial Development Corporation (MIDC) recently handed over the land. The company was exploring investment opportunities in various states and finally selected a site at the Shendre industrial estate near Aurangabad.
'Interim Budget has ignited the entrepreneurial spirit.'
May opt for PE funds or debt to finance capital expenditure.
Privatisation of BPCL, which was dubbed India's biggest ever, has been stalled with just one bidder left in the fray after two others walked out over issues such as lack of clarity in fuel pricing, a top source said. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020. At least three bids came in by November 2020 but only one remains now after the others withdrew from the race.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
"The scope of SFIO investigation include looking into the state of affairs of the company and its subsidiary Sesa Industries Ltd, in respect of mismanagement, malpractices, financial and other irregularities."
Cairn Energy is back to its original image of an explorer, with its prime producing properties in India now going into the Vedanta group kitty.
Iron ore exporter Sesa Goa said on Friday it would raise Rs 6,000 crore by issuing various securities in domestic and overseas markets for funding its business plans.
At least 31 people were crushed to death when an under-construction chimney at a new power plant being constructed at Bharat Aluminium Company (Balco) in Korba, 230 km from Raipur, collapsed on Wednesday afternoon. Another 40 people are feared trapped in the debris.
Earlier this month, the high court asked Sesa Goa and JSW Steel to re-bid.
If reports that Apple Inc plans to triple its iPhone production in India come true, it is likely to help the country become a supply hub for the American company. There are some 190 Apple suppliers globally, but only 12 have manufacturing facilities in India now. Apple's strategy is to focus on India and a clutch of other countries as it diversifies its supply chain out of China.
The Essar group is exploring the option of an $8-billion listing on the London Stock Exchange, potentially making it the first Indian company to enter LSE since Vedanta Resources seven years ago.
Ban fiats, freezes and new levies are ensuring a drying up of operations and new investments, complain companies.
Asarco's unsecured creditors will support Sterlite Industries, the flagship firm of London-listed Vedanta group, in the bidding war for the bankrupt US copper mining firm.
Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group's Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit.
A special court had ordered him to join the CBI investigation within 16 hours of his arrival from the United Kingdom and Europe, where he had gone with the permission of the Supreme Court and the special court itself.
The takeover battle for United States copper miner Asarco continues to rage, as its estranged parent Grupo Mexico has offered $1.3 billion to counter Sterlite Industries' offer for the second time.
Public shareholders of Cairn India will lose out on a whopping Rs 3,570 crore (Rs 35.7 billion) to the promoters who would be only beneficiary of a non-compete fees to be paid by its suitor, London-listed Vedanta group.
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
The bauxite-rich Gandhamardan hill in Orissa is likely to become the centre of an environmental and cultural controversy again after two decades. In 1986, India's third-largest alumunium producer Balco had applied for a mining lease in the area when it was a government company. This year, the hill is being sought by Balco again, but this time as a private company owned by London-based commodities entrepreneur Anil Agarwal's Vedanta group.
Vedanta group flagship Sterlite Industries on Friday said it has raised over two billion dollar (about Rs 8,215 crore) through an initial public offering in the US, including the over allotment option.
For a state so rich in mineral wealth, the tribal parts of Chhattisgarh have had remarkably little investment in the last two years.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL), a document detailing steps needed to complete India's biggest privatisation showed. Billionaire Anil Agarwal's Vedanta group as well as two US funds -- Apollo Global and I Squared Capital - had last year submitted initial bids to buyout the government's entire 52.98 per cent stake in India's third-biggest oil refiner and second-largest fuel retailer. Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said Transaction Advisor and Asset Valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
With the privatisation of BPCL appearing inevitable, there are worries that the new promoter would soon move to lower wages.
The Sterlite group is gearing up to revive its steel project in Orissa in partnership with a foreign company
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
There is little doubt that the Dongria Kondhs are facing their biggest challenge. Being small in number, they need special attention and care in order to fight this deadly virus.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Major corporates are staring at an uncertain future after investing substantially on their projects
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