India’s top retailer, Reliance, will add 250 more Future Retail (FRETAIL) stores to its portfolio after the company failed to make lease payments for the outlets to Reliance, two people with direct knowledge of...
Category - India
Reliance to invest $220 mln in Sanmina JV in electronics manufacturing push
Indian conglomerate Reliance Industries (RELIANCE) said on Thursday it would invest 16.7 billion rupees ($220.70 million) to create a joint venture (JV) with U.S.-listed Sanmina Corp (SANM) for making electronic...
Indian Indices End on Negative Note; UltraTech Cement Slumps 7%
Indian benchmarks extended their loss on Thursday following a highly volatile session. Both BSE Sensex and NSE Nifty ended on a negative note, mainly dragged by auto and banking stocks. At the close, the Sensex slid 366...
Pidilite Industries Dissolves Subsidiary Pidilite Grupopuma
Adhesives manufacturer Pidilite Industries (PIDILITIND, BOM:500331) secured approval of the Registrar of Companies in Mumbai, India, to strike off its subsidiary Pidilite Grupopuma. Pidilite Grupopuma had not started...
NTPC Pays Over $517 Million as FY22 Interim Dividend
State-owned power-producing giant NTPC (NTPC, BOM:532555) has paid an interim dividend of 38.79 billion Indian rupees ($517.3 million) to its shareholders for the financial year 2021-22, according to a Monday statement...
Hindustan Zinc Posts Rise in Q3 Consolidated Net Profit, Revenue
Hindustan Zinc (HINDZINC, BOM:500188) recorded a rise in its consolidated net profit to 27.01 billion Indian rupees ($362.6 milion) in the quarter ended Dec. 31, 2021 as against 22 billion Indian rupees a year ago...
Tech Mahindra to Acquire 80% Stake in Australian Artificial Intelligence Company
Indian IT services major Tech Mahindra (TECHM, BOM:532755), through its Singapore-based subsidiary, has entered into an agreement to acquire an 80% stake in recently formed Australian artificial intelligence firm...
Tata Steel Long Products Close to Acquiring 93.71% Stake in Neelachal Ispat
Tata Steel Long Products (TATASTLLP, BOM:513010) accepted the letter of award extended by the Department of Investment and Public Asset Management of India, to acquire a 93.71% stake in Neelachal Ispat Nigam. The...
Adani Ports and Special Economic Zone Clocks Nearly 25 Million Metric Tons in January
Adani Ports and Special Economic Zone (ADANIPORTS, BOM:532921) said the cargo volume handled in January reached 24.74 million metric tons. In the 10 months ended Jan. 31, the company’s portfolio of ports handled a...
JSW Steel Clocks 15% Jump in Crude Steel Production in January
JSW Steel (JSWSTEEL, BOM:500228) said its crude steel production climbed 15% year on year to 1.6 million tonnes in January. Flat-rolled products output jumped 23% on year to 1.2 million tonnes, while production of long...
Britain’s car output slumps by 20% in worst January since 2009
The number of cars made in Britain fell by 20% in January from already weak output levels in the same month last year as the industry struggled with ongoing shortages of components, a plant closure and the change to new...
Adani Enterprises Sells Entire Stake in DC Development Hyderabad, Noida Data Center
Indian conglomerate Adani Enterprises (ADANIENT, BOM:512599) sold its entire stake in subsidiaries DC Development Hyderabad and Noida Data Center to Adani Connex for 100,000 Indian rupees ($1, 341) each. Adani Connex is...
Nestle India’s Net Profit Slides in Q4
Nestle India (NESTLEIND, BOM:500790) said its net profit fell to 3.87 billion Indian rupees ($51.6 million) in the fourth quarter from 4.83 billion rupees a year ago. Earnings per share for the three months dropped to...
Indian Indices Rebound at the Close; Coal India Soars 9%
Indian benchmarks snapped their seven-day losing run on Friday, with buying seen across all the sectors. Both BSE Sensex and NSE Nifty tracked positive global cues as the US’ sanctions to Russia over its Ukraine...
UltraTech Cement Agrees to Acquire Limestone Company for $3 Million
UltraTech Cement (ULTRACEMCO, BOM:532538) has entered into an agreement to acquire a 100% stake in National Limestone Co., Rajasthan, for 230 million Indian rupees ($3.1 million). The buyout is aimed at gaining access...
Sun Pharmaceutical’s Taro to Acquire Skin Care Products Company Alchemee for $90 Million
Taro Pharmaceutical Industries, part of Sun Pharmaceutical Industries (SUNPHARMA, BOM:524715) has entered into an agreement to acquire Alchemee, formerly known as The Proactiv Company (TPC) for $90 million. Under the...