Aditya Birla Group is set to pump in Rs 1,250 crore into its financial services arm Aditya Birla Capital Ltd.The board of Aditya Birla Capital Ltd (ABCL), which is into lending, asset management and insurance, on Thursday approved a preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, according to a […]
Apple Inc supplier Foxconn will start manufacturing iPhones in the southern Indian state of Karnataka by April 2024, the state government said on Thursday.The land for the factory would be handed over to Foxconn by July 1, the government said, adding that the project, valued at 130 billion rupees ($1.59 billion), is expected to create […]
Jaypee Infratech, which is facing insolvency proceedings, on Monday said the company has deferred the approval of financial statements for the quarter and fiscal ended March 2023, as it has not been finalised in view of pending cases in the appellate tribunal.On March 7, the National Company Law Tribunal (NCLT) approved the resolution plan of […]
Japanese imaging products maker Nikon expects around 11 per cent volume-driven growth in India in the current fiscal, touching its top-line to Rs 1,000 crore-mark, and expects the country to be among its top three global markets, according to top company officials.Growth in the current year will be led by increased mobility, growing penetration and […]
Real estate developers have acquired nearly 2,200-acre land parcels since January last year for around Rs 26,000 crore, mainly to develop residential projects, according to JLL India.In a statement, real estate consultant JLL India said that the developers have acquired around 2,181, acres of land area in the last 17 months (January 2022-May 2023) valued […]
Banks need to be given “stronger overview” on the lending practices followed by non-bank lenders who borrow from them, a senior official from SBI has said. Non-bank finance companies and microfinance institutions should follow the same risk underwriting and credit monitoring principles as followed by the larger banks from whom they borrow money, C S […]
Indian drugmaker Dr Reddy’s Laboratories Ltd reported nearly an eleven-fold surge in fourth-quarter profit on Wednesday, driven by higher sales from its mainstay generic drugs business in North America.The Hyderabad-based company’s consolidated profit rose to 9.59 billion rupees in the three months ended March 31, compared with 875 million rupees a year earlier.The profit, however, […]
While the current year could turn out to be a challenging one, with interest rates rising and liquidity becoming less abundant, Rajiv Sabharwal, managing director and CEO of Tata Capital, believes the company’s loan book will grow at a faster pace than that of the industry. “We will look to tap new geographies and move […]
Switzerland-based Holcim Group is the latest to join the bandwagon of multinational companies (MNCs) quitting India due to macro-economic and regulatory concerns, and to focus on their core businesses. Holcim, which sold its India ventures – Ambuja Cements and ACC for $10.50 billion – said its exit was to focus on green revenues as it […]