With the Centre prodding central public sector enterprises (CPSEs) to privatise or disinvest stakes in their subsidiaries, Coal India will sell a 25% stake each in its unlisted subsidiaries Bharat Coking Coal (BCCL) and consultancy arm Central Mine Planning & Design Institute (CMPDI), company sources told FE. Both the companies are wholly-owned by the coal […]
Aditya Birla Group’s flagship company Grasim Industries intends to invest Rs 10,000 crore for its paint foray by FY25, double of what was initially earmarked, in line with the changing dynamics of the industry. “We have accelerated the execution of our paints capacity of 1,332 MLPA, with commissioning of plants to start by the fourth […]
As Vivo introduces its X80 series in India, the focus—like many other flagships— remains on the camera capabilities. But there’s a lot going on behind the scenes with the cameras on these phones. While the X80 series continues its partnership with renowned lens and camera brand Zeiss, the brand is also focussing on Artificial Intelligence […]
The pandemic has accelerated the rise of new-age digital consumer and tech-savvy entities, positioning India among the fastest growing digital economies. For ManageEngine, the enterprise IT management division of Zoho, India has emerged as one of the top three markets worldwide, after the US and the UK. No wonder, the Chennai-based business software maker is […]
Infosys on Sunday said that its board of directors has reappointed Salil Parekh as CEO and MD for another five years. Parekh’s new term comes into effect from July 1, 2022 until March 31, 2027. The company said that shareholders’ approval is being sought for his reappointment. Parekh has been the CEO and managing director […]
Granting an interim relief to Srei founder Hemant Kanoria, the Delhi High Court has restrained private sector lender Karnataka Bank, which has reported frauds in the credit facilities extended to Srei Equipment Finance and investment made in debentures issued by Srei Infrastructure Finance, from taking any further steps or actions on the basis of declaring […]
Energy and environment solutions provider, Thermax Group on Friday reported a 4% year-on-year drop in consolidated net profit to Rs 103 crore for the March quarter. The company’s consolidated revenues were up 26% y-o-y to Rs 1,992 crore. The company attributed lower profitability to increased commodity and freight costs during the quarter. Thermax reported a […]
Finolex Industries expects PVC prices to soften with China dumping surplus PVC (Polyvinyl Chloride) in the Indian market. Finolex Industries is India’s largest and only backward integrated PVC pipes and fittings manufacturer. Sanjay S Math, MD, Finolex Industries, said at an investor call that PVC prices had after touching an all-time high of $1,900 per […]
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 […]