Tata Tea, part of the Ratan Tata-led business conglomerate, announced a preliminary agreement with global beverage major PepsiCo for exploring a joint venture in the non-carbonated beverage business.
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
Industry experts say that even though international companies face problems in setting up new projects on their own, given the problems associated with acquiring land and rehabilitating the displaced people, their keenness to become a part of the growing Indian market remains intact.
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.
Subros Limited, India's leading manufacturer for automobile air conditioners, has entered into a joint venture with its two-and-a-half-decade-old partner, DENSO Corporation of Japan, to set up a product development centre in India.
State-owned BHEL on Friday said it is in talks with SAIL and Vizag Steel to tie up for manufacturing high grade steel, while Korean steel maker Posco may join the proposed joint venture company as a technology partner.
Steel Authority of India Limited and Posco are in discussions to set up a 1.5 million tonne integrated plant in Bokaro to produce high grade steel from low-grade iron ore and non-coking coal by using the world's third largest steel company's FINEX Technology.
India has already deployed a sizeable number of the original BrahMos missiles and other key assets in several strategic locations along the de-facto border with China in Ladakh and Arunachal Pradesh.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
The guidelines also point out that it is not advisable to form 50-50 JVs, since such a company is regarded as a private company and functions as such, even though the PSU is an equal shareholder. In many cases these entities are not accountable to Parliament or the state assembly.
In its first joint venture for tractors abroad, Mahindra & Mahindra has entered into a memorandum of understanding with Jiangling Motor Company Group of China to acquire the latter's tractor manufacturing assets.
Telecom major Bharti Enterprises has announced a 50:50 joint venture between its subsidiary Bharti Teletech and Nasdaq-listed Teletech Holdings, a global player in customer management solutions arena.
Created to develop special economic zones in the northern state, Reliance Haryana SEZ Ltd is a joint venture between Reliance Ventures Ltd, an RIL subsidiary, and Haryana State Industrial Investment Development Corporation.
Partners for these JVs have been shortlisted among global contenders, he said, adding that they would be among world leaders in the respective product.
When Anand Mahindra becomes non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to have a complete oversight of and responsibility for the Mahindra group businesses.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
The Videocon Group on Friday announced its foray into the solar energy sector through an equal joint venture with the Belgium-based global renewable energy developer Enfinity and has set an aggressive target of generating 2,000mw in a couple of years.
Mumbai airport is the largest gateway for movement of pharma and agro products in the country.
A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw posted the matter for hearing on Friday.
The government has approved a proposal of British luxury apparel brand Burberry to set up a joint venture in India for single brand retailing. The 153-year old company, famous for its high-end apparels, like trench coats and mufflers, plans to tie-up with Gurgaon-based fashion retail house Genesis Colors for setting up single brand exclusive retail outlets.
The change in ownership is expected to give a fresh lease of life to the company that has often been dragged by financial stress in its close to three-decade journey under the Khaitans, reports Ishita Ayan Dutt.
Godrej Agrovet Limited has entered into a joint venture with Advanced Chemical Industries Limited, Bangladesh, to set up animal feed and poultry businesses in Bangladesh.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
111 light helicopters have to be built indigenously through joint ventures between Indian and foreign firms.
The joint venture of Punjab National Bank, Vijaya Bank, Berger Paints and the United States-based Principal Group has evinced interest to the interim Pension Fund Regulatory and Development Authority for foraying into the green-field sector.
Godrej to focus more on own brands as the licensing agreement with Sara Lee ends in two years.
Tata Motors subsidiary Telco Construction Equipment Company Ltd (Telcon) has opposed a proposal to the Foreign Investment Promotion Board (FIPB) from John Deere for a joint venture with Ashok Leyland to distribute and market its construction equipment in India.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
The company signed a JV agreement with Coal India to set up 5000 Mw of solar and thermal projects. These projects are expected to commence between 2023 and 2027.
The first such proposal in the sector has come from the joint venture between Tata-Trent and Tesco Plc, which will open outlets simultaneously in these two states.
According to sources, in a January 6 letter to the department of financial services under the finance ministry, LIC said it wanted to stop sponsoring LIC Nomura Mutual Fund, and might offer some of its stake in LIC Housing Finance to other shareholders.
More than 100 BrahMos missiles are planned to be built in the next three years.
Lord Swraj Paul-owned Caparo Group on Friday announced entry into the power generation business through a joint venture with Finland-based Wartsila at a project cost of Rs 1.15 billion
It was for the first time that the missile, capable of travelling at speeds of up to Mach 3.0, or three times the speed of sound, was tested with indigenously developed 'seeker' technology.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The new company, which will be based in Palegaon near Pune, would aim at development, design, manufacturing and related services in the fields of electronic warfare, radars, military avionics and mobile systems for military requirements of Indian customers as well as the world market.
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
Estimated to cost $44 billion, the project was expected to be commissioned by 2025.
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