Strides made in the information technology sector has enabled India to emerge as the world's "electronic housekeeper" and good economic performance has put the nation firmly on the path of growth, the doyen of Indian industry K K Birla has said.
The Birlas on Friday categorically ruled out the possibility of a compromise formula with R S Lodha over the issue of inheritance of M P Birla's assets.
Hindustan Motors, owned by C K Birla group, has concluded an arrangement to supply engine and gearbox to General Motors' sports utility vehicles, which are yet to hit the Indian roads.
Through rights issue, a firm allows existing shareholders a right to buy additional shares in the company at a specific price.
With the resignation of Uttam Bose as managing director and chief executive officer of HM last week, Moloy Chowdhury has been appointed as acting MD and CEO of the company, which owns assets at Uttarpara and Indore.
The scrip of K K Birla controlled HT Media Ltd on Wednesday opened at Rs 685 per share at a premium to the issue price of Rs 530 at listing on the Bombay Stock Exchange Ltd.
Birla Home Finance today cut interest rates by 0.75 per cent at 8.0 per cent for 1-5 year maturity period, which is the cheapest in the industry.
In the last couple of months, the IT and BPO space has seen a big uptick in M&A activities, with companies merging with other entities to become bigger players.
Hindustan Motors currently has two facilities one at Uttarpara in West Bengal and Tiruvallur plant in Tamil Nadu.
None of the 2,600 workers had any clue about the suspension of work notice, put up on the gate of India's oldest automobile plant last Sunday.
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Besides the manufacturing industry, voices in favouring the need for protectionism have also been heard from local start-ups, which at times find it tough to compete with global players that entered India with deep pockets.
Then chief minister Jyoti Basu once told an industrialist that capitalists were class enemies and he should expect no sympathy.
Another important early decision of Birla was to get into the wireless telephony business in association with AT&T and another revered Indian business house, the Tatas.
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Ms Banerjee's triumphal declaration of having attracted investments worth Rs 2.43 lakh crore at the summit, are numbers that no one but she and the enigmatic state finance minister Amit Mitra believe, points out Kanika Datta.
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Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
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