Once-in-a-century Covid crisis is unleashing a new wave of mergers and acquisitions
While deals are fewer at an aggregate level since the beginning of the pandemic, deal activity is in sharp contrast with the contraction in economic activity and sentiment in the Main Street. But a flux like this also unlocks opportunities, value corrections and fire sales.
Japanese firm Amperex Technology Limited acquires 180-acre at Rs 550 crore in Haryana
Owned by TDK corporation, ATL has acquired the land from HSIIDC through a bidding process. A global leader in supplying LIP batteries across the world, ATL has two cell manufacturing facilities in China but because of India-China border tension, it has decided to invest in an Indian manufacturing unit by the name of ATL India technology private ltd.
High Court restrains Harsh Vardhan Lodha from holding office in MP Birla Group
The court also told Lodha not to draw any benefit from the assets of the MP Birla estate. The latter is expected to challenge the ruling before a divisional bench of the High Court early next week, people familiar with the development said.
Delight for some, dismay for others as WFH here to stay for many companies
The old normal has given way to the new and WFH, an acronym that was born in the lockdown and quickly became part of everyday lexicon, is here to stay, at least for the foreseeable future. As millions of professionals strive for the optimum work-life balance in extraordinary times when they have been confined to their homes, industry giants as well as start-ups have told their employees to continue to be there.
India Power Corporation Ltd plans to expand operations
The company currently holds a distribution license for supplying power over 618 square kilometers in West Bengal's Asansol-Ranigunj region. It is one of the few Indian utilities that operate in a competitive environment with two other suppliers vying for the same set of customers.
SC dismisses SBI plea seeking vacation of stay on Anil Ambani bankruptcy case
The apex court further directed HC to consider the issue on October 6, adding that SBI is at liberty to seek modification of stay order.
Shares of Hindustan Petroleum Corporation Ltd. rises as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 219.79.
NCLAT sets aside nod for Ricoh acquisition by Dharamshi-Jhunjhunwala consortium
Kotak Investment Advisors, private equity arm of Kotak Mahindra Bank, which was one of the bidders for Ricoh India, challenged the National Company Law Tribunal’s (NCLT) decision before the appellate body. It had argued that the Dharamshi-Jhunjhunwala consortium was allowed to submit its bid after expiry of deadline and when bids by others had already been opened.
Tata Sons urges Supreme Court to void pledges by Shapoorji Pallonji Group
On September 5, Tata Sons moved the Supreme Court challenging these pledges — that were created in December 2019 and April this year — as well as a fresh move by the Mistry family-owned SP Group to pledge shares in favour of Canadian PE firm Brookfield Asset Management.
Wellness day-offs: India Inc is making sure its employees get a break from non-stop work
Concerned that working without timeoffs is taking a toll on its workforce amid the Covid-19 pandemic, some of the biggest companies in the country are giving employees surprise "wellness day-offs" or actively encouraging them to take casual leaves.
Tata Sons moves urgent plea in SC against SP Group's definitive agreement to raise capital
The SP Group is asking the Supreme Court to dismiss Tata’s application at the threshold by highlighting the settled position in law that a mere creation of a pledge on shares would not amount to a transfer of title of the shares.
An industry survey reveals India Inc's pain points well into the unlock phase
While 59% of respondents reported weak demand as a key challenge in June, 68% felt the same way during the August round of the Federation of Indian Chambers of Commerce and Industry (FICCI)-Dhruva Advisors industry survey.
Fund crunch delays Board-commissioned investigation into book-rigging charges at CG Power
In December last year, the Serious Fraud Investigation Office under the ministry of corporate affairs initiated a probe into 16 group entities including CG Power.
PM Modi making farmers slaves of corporates: Rahul Gandhi on farm bills
As the parliamentarians debate the new agriculture-related ordinances in Rajya Sabha, Congress leader Rahul Gandhi launched a scathing attac...
Hinduja Global Solutions board asks for portfolio review to keep up with changing biz dynamics
HGS had registered a 21.7 per cent rise in consolidated net profit at Rs 49.2 crore for the quarter ended June 2020 from Rs 40.4 crore in April-June 2019 quarter.