On July 11, 2024, Aditya Birla Fashion and Retail Limited announced a significant increase in its stake in Goodview Fashion Private Limited (GFPL), raising its shareholding from 33.5% to 51%. This acquisition, achieved through the secondary purchase of a 17.5% equity stake from existing shareholders, has resulted in GFPL transitioning from an associate company to …
The Oriental Group, a prominent player in the Indian railway engineering sector, has secured significant orders totalling over ₹450 crore from Indian Railways. These contracts underline the group’s strong position in supplying essential equipment for the country’s vast railway network. Oriental Foundry Bags Major Wagon Order Oriental Foundry Private Limited, a wholly-owned subsidiary of the …
On July 12, 2024, Adani Ports and Special Economic Zone Limited announced in a stock exchange filing the arrival of the first mother ship at its Vizhinjam port. This milestone event marks India’s entry into global transshipment, positioning Vizhinjam as a significant player in international trade routes and ushering in a new era in India’s …
Rashtriya Chemicals and Fertilizers Ltd (RCF), a leading state-owned fertiliser producer, is taking a significant step towards improving its production efficiency. On July 11th, 2024, RCF’s board of directors approved a contract with Topsoe A/s, a prominent international engineering company. Focus on Energy Efficiency The contract, valued at ₹514.6 crore (approximately $64 million), aims to …
Strategic Acquisition of Penna Cement Ambuja Cements Ltd. has made a significant strategic move by acquiring 100% of Penna Cement Industries for Rs 10,422 crores, funded entirely through internal accruals. This acquisition includes 14 million tons of cement capacity, of which 10 million tons are currently operational and an additional 4 million tons are under …
Hindustan Copper Ltd, a leading Indian copper producer, expects copper demand in the country to grow significantly in the coming years, driven by several key sectors. This growth is predicted to outpace global demand due to India’s lower per capita copper consumption compared to the world average. Demand Drivers and Growth Forecast The Indian copper …
Cyient Ltd., a leader in intelligent engineering solutions, has announced a bold move to solidify its position in the burgeoning semiconductor industry. The company established a fully-owned subsidiary dedicated to chip design, marking a strategic leap forward in its commitment to innovation. This subsidiary underscores Cyient’s dedication to excellence within India’s rapidly growing semiconductor landscape. …
AVG Logistics Ltd has announced that it has been awarded the tender to serve as the authorised partner for Express parcel services by the Uttar Pradesh State Road Transport Corporation (UPSRTC). This significant achievement underscores AVG’s commitment to excellence and its expanding role in the Express Parcel delivery segment. The awarding of this tender marks …
Jio Financial Services, the financial services arm of Reliance Industries Ltd (RIL), has received approval from the Reserve Bank of India (RBI) to convert into a Core Investment Company (CIC), as announced in a stock exchange filing. This move marks a significant shift in the company’s structure and operational model. From Demerger to CIC: Streamlining …
Dabur India, a leading FMCG player, is making significant strides in the digital space. According to their annual report, the company’s digital-first brands, launched exclusively online, achieved a collective turnover of over ₹100 crore in FY24. This highlights Dabur’s strategic shift towards capitalising on the burgeoning online market. New Product Launches and Category Expansion Dabur …
