Hinduja’s IndusInd Takes 60% Stake in Invesco India
The Hinduja Group, a titan of Indian industry, has made a bold move to solidify its position within the nation’s financial services sector. Its subsidiary, IndusInd International Holdings Ltd (IIHL), recently announced the acquisition of a 60% stake in Invesco Asset Management India (IAMI) for an undisclosed sum. This strategic acquisition marks the Hinduja Group’s […]
Maruti Suzuki Expands Manesar Plant by 1 Lakh Units
Maruti Suzuki, India’s undisputed leader in passenger vehicles, has announced a significant acceleration in its manufacturing capabilities. The company recently inaugurated a brand new assembly line at its Manesar facility in Haryana, resulting in a substantial production capacity increase of 1 lakh units per year. Reaching New Production Milestones This expansion propels the Manesar plant’s […]
Dixon Set to Buy Majority Stake in Transsion Unit
Dixon Technologies, India’s leading contract manufacturer, has signed a share purchase agreement to acquire a controlling stake in Ismartu India, a manufacturing unit owned by Chinese phone maker Transsion Holdings. The deal will see Dixon acquire a 50.10% stake in Ismartu India for an initial consideration of Rs 238.36 crore in cash. There’s also the […]
Godrej Project Extension Denied by Gurugram RERA
In a move that will send ripples through the Gurugram real estate market, the Gurugram Real Estate Regulatory Authority (RERA) has rejected Godrej Developers’ application for a crucial project registration extension. The decision, announced on April 9, 2024, follows a string of non-compliances by the developer with the Real Estate (Regulation and Development) Act, 2016 […]
Baba Ramdev, Balkrishna Apologize: SC on Misleading Ads
Yoga guru Baba Ramdev and Patanjali Ayurved Ltd’s managing director, Acharya Balkrishna, recently submitted affidavits to the Supreme Court expressing their unconditional apology for the company’s misleading advertisements. This action follows a lawsuit filed by the Indian Medical Association (IMA) against Patanjali. The IMA accused the company of making unsubstantiated claims about curing diseases and […]
Piramal Alternatives Invests Rs 110 Cr in Biodeal Pharma
India’s booming pharmaceutical sector, valued at a staggering $78 billion , has attracted the attention of Piramal Alternatives, the alternative investment arm of Piramal Enterprises. In a recent move, Piramal Alternatives announced a significant investment of Rs 110 crore in Biodeal Pharmaceuticals, a Noida-based CDMO specializing in nasal sprays and nutraceuticals. Investment Boosts Biodeal’s Infrastructure […]
Adani Gas, MG Motor Partner for EV Charging
India’s electric vehicle (EV) sector is poised for a major leap forward with the collaboration between Adani Gas’s subsidiary, Adani TotalEnergies E-Mobility (ATEL), and MG Motor India. This strategic partnership aims to bridge the critical gap in EV charging infrastructure, a critical factor hindering widespread EV adoption. According to a recent report by the Society […]
NTPC Targets 40M MT Coal Production FY25
State-owned power giant NTPC has set its sights on a significant boost in coal production from its captive mines. The company has unveiled an ambitious target of producing 40 million metric tonnes (MMT) of coal in the upcoming financial year 2024-25 (FY25). This aggressive target represents a substantial 17% year-on-year growth, marking a significant step […]
Vedanta Holdings Boosted by Blackrock, ADIA, Funds
Vedanta Limited’s stock has been on a tear in recent months, experiencing a remarkable nearly 30% increase (around ₹322 per share) since December 2023. This impressive rally has been fueled by a surge in investment activity, with leading financial institutions and domestic mutual funds significantly increasing their stake in the company. BlackRock, ADIA Among Major […]
Voltas AC Reaches 2M Sales Milestone FY24
Voltas, a titan in the Indian home appliance industry, has cemented its leadership position in the air conditioner segment by achieving a phenomenal sales milestone. The company has surpassed the impressive mark of 2 million AC units sold in FY24, registering a stellar 35% growth year-on-year. This accomplishment not only underscores Voltas’ unwavering commitment to […]