Brand name of the proposed bank has to be sent to RBI by July 1.
'While the march of globalisation is perhaps inevitable, what is certain is that the world is no longer flat as, the emerging pattern of trade is more regional. 'This new trend of 'slowbalisation' raises some questions that challenge conventional wisdom on how businesses should distribute their capacities,' Birla said.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
According to market experts, the buyers are expected to shell out in the "range of 500 to 600 crore INR" per team in the closed-bid auction for the women's IPL.
The Central Bureau of Investigation (CBI) has started scrutinising the file received from the Prime Minister's Office on coal block allocation to Hindalco to understand the circumstances on the basis of which the earlier decision to reject the company's application for the same was reversed.
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SBI will hold 30 per cent in RIL joint venture
Bharti Airtel CEO Gopal Vittal on Wednesday asserted that a large nation like India needs three private players in the telecom sector, and hoped the government would take measures to offer relief to the industry that is facing "serious financial stress". The comments assume significance in the backdrop of Vodafone Idea's desperate struggle to stay afloat. Aditya Birla Group chairman Kumar Mangalam Birla had in June this year offered to hand over the group's stake in debt-laden Vodafone Idea Ltd (VIL) to the government or any other entity to ensure that the company remains a going concern.
While asking firms not to worry about sharp volatility in prices, Birla said companies must make sure they do not get caught in 'comorbidities'.
The mining major is selling the company to reduce its debt.
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
Top HR minds in India, including Santrupt Misra of Aditya Birla Group, Satish Pradhan of Tata Sons, P Dwarakanath of Max India, Aquil Busrai (ex-IBM India) and Price Augustine of Mahindra & Mahindra and Pankaj Bansal of People Strong were among those who brainstormed with Maruti Suzuki India chief operating officer (administration) S Y Siddiqui last week.
The Novelis acquisition has done quite well for the fortunes of Hindalco.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
Other fashion formats such as 'Central' mall chain, 'Brand Factory' and 'Fashion at Big Bazaar' remain under Future Group and eye expansion
In line with the overall downtrend in the markets, a majority of large business conglomerates saw their valuations taking a dip.
After their merger Vodafone Group CEO, Vittorio Colao says India is not a Jio market alone. Aditya Birla Group CEO, Kumar Mangalam Birla says Vodafone is dominant in metro cities, while Idea is a big player in urban, semi-urban markets.
India Inc believes that the FM has done a terrific job, but consumers may not have got their due.
It is not clear whether the drop in offers is a fallout of demonetisation.
Four years after buying Novelis, a company three times its size, Hindalco is now banking on the Atlanta (US)-headquartered aluminium rolling and recycling major to fund its Rs 23,000-crore expansion plan in India.
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.
Why Sumant Sinha, chairman & CEO, ReNew Wind Power sees value in the renewable energy business.
More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
TV Today stock rises 15.23% on sale buzz
M-Cap of top 10 business groups went up by 46% this year.
Denying any breach of merger and acquisition (M&A) norms, Aditya Birla group firm Idea Cellular on Tuesday said the company's merger with Spice Communications was approved by court and consummated with the full knowledge of the Department of Telecom.
Three days ahead of the launch of Mobile Number Portability, Aditya Birla group firm Idea Cellular on Monday started a helpline to guide over 700 million mobile users on various aspects of the service.
In a big setback to Aditya Birla Group firm Idea Cellular, the Delhi High Court said the six licences of Spice Communications would not be transferred to Idea, since the company did not comply with the licence and merger guidelines. The court also slapped a fine of Rs 1 crore for hiding information.
Vodafone plc has made it clear that it will not make any fresh equity infusion in its Indian telecom business--Vodafone Idea Ltd (VIL). Responding to a query, a spokesperson at the UK-headquartered telco said: "Just to confirm our position, there will be no new equity infusion from Vodafone Group." This is the first time that Vodafone has spoken about its stand after the government announced a telecom package.
'Streaming will get to 100-200 million subscribers, but the journey is not as rose-tinted.'
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
The Aditya Birla Group is back in acquisition mode, as group firm Aditya Birla Nuvo may bid for the carbon black division of Germany's Evonik Industries. The division, with annual sales of $1.3 billion and 1,700 employees across 12 countries, is the second largest in the world.
Debt-ridden Vodafone Idea (VIL) has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8 per cent stake in the company, as per a regulatory filing of the telecom firm. If the plan goes through, the government will become the biggest shareholder in the company which is reeling under a debt burden of about Rs 1.95 lakh crore. "...the board of directors, at its meeting held on 10th January 2022, has approved the conversion of the full amount of such interest related to spectrum auction instalments and AGR dues into equity.
Three independent people with knowledge of the talks said the group had been selected in the first round and was now likely to make a formal bid.
The way BPO was conceived has undergone a huge change. Clients are looking more for innovation than just cost arbitrage; they look for more value and want to outsource all functions not core to them.
In recent days Indian corporate houses are increasingly acquiring companies in Latin America and Europe. But on the other hand these companies are not efficiently managed.
After 15 months of negotiations, the Aditya Birla Group has finally agreed to buy out the US firm Columbian Chemicals Company (CCC) for $875 million from One Equity Partners, the merchant banking arm of JPMorgan Chase. This has catapulted the group to become the world leader in carbon black with a combined two million tonne annual production.
The BSE index closed down 0.18 percent at 28,659.17, its lowest closing level since Feb. 11.
The Aditya Birla Group is in acquisition mode again. It appears set to acquire US carbon black manufacturer Columbian Chemicals. According to two independent sources, negotiations are at the last stages, and a deal is expected to be announced next week. The size of the deal, said these sources, is expected to be around $900 million (Rs 4,100 crore).
Providence had bought 15 per cent in Idea Cellular in 2006 for around Rs 1,800 crore (Rs 18 billion) through its investment arm - P5 Asia Investment (Mauritius).
