Grasim Industries Ltd. has secured its lowest-cost local-currency bond since June 2020, a sign that interest rate cuts and recent cash infusions by the Indian central bank are benefiting companies. The flagship of billionaire Kumar Mangalam Birla plans to raise as much as 10 billion rupees ($117 million) selling a bond due in five years, … Read more
Billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. is considering seeking about $1.2 billion in a planned initial public offering of US aluminum products maker Novelis Inc., people familiar with the matter said, in what could be one of the year’s biggest share sales. Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, … Read more
Gautam Adani surged to the top spot in the IIFL Wealth-Hurun India Rich List of 2022, surpassing Mukesh Ambani with his wealth more than doubling in the past year. Sun Pharma’s Dilip Shanghvi and Uday Kotak re-entered the list this year, replacing Kumar Mangalam Birla of Aditya Birla Group and Jay Chaudhary of Zscaler, according … Read more
Prime Minister Narendra Modi on Friday said only “democratic India” has the capabilities of becoming the “trusted partner” the world is looking for at the moment and Uttar Pradesh will drive the “growth story of the country in the 21st century”. He also asked business leaders to visit his parliamentary constituency Kashi. Modi was in … Read more
MUMBAI: Hindalco Ltd’s upstream plants are operating at near full capacity with all logistics infrastructure coming back on track, said Kumar Mangalam Birla, chairman of the Aditya Birla Group. “At Novelis (Hindalco’s wholly owned subsidiary) too all plants are operational, and many are now running at their full capacity. All the automotive customers in North … Read more
Amar Singh, Rajya Sabha member and former Samajwadi Party leader who almost took “socialism” out of the party’s lexicon due to his proximity to Bollywood and captains of industry, passed away in Singapore after a prolonged illness. He was 64. Singh began his political career with the Congress and was close to former Uttar Pradesh … Read more