Mumbai: Anchored by a strong performance in its cement and financial services businesses, Grasim Industries clocked in a 13% growth in its consolidated revenue for the March quarter, which took it to an all-time high of ₹37,727 crore. While operating profit of the flagship company of the Aditya Birla Group jumped by a little over … Read more
Mumbai: Aditya Birla Group’s UltraTech Cement, Sajjan Jindal-promoted JSW Cement, and Lakshmi Mittal-promoted ArcelorMittal are among a dozen companies vying to acquire Vadraj Cement, formerly owned by ABG Shipyard, having secured creditors’ debt of about ₹8,000 crore, said people with knowledge of the matter. Nirma Group, JK Cement, Naveen Jindal group entity, and Oaktree Capital … Read more
National Asset Reconstruction Company of India (NARCL) has proposed to acquire the debt of Jaiprakash Associates from banks for ₹10,000 crore, making it the largest offer made so far by the government-backed asset reconstruction company (ARC) that started operations just over two years ago. If a majority of lenders sell their debt, ARC will acquire … Read more
“From the next 6 to 12 months’ perspective, we expect the domestic equity market to remain buoyant and have room to further go up by 8-10%,” Sunny Agrawal, Head of Fundamental Equity Research, SBI Securities, said.In an interview with ETMarkets, Agrawal said: “BFSI, Real Estate, Auto, Cement, Engineering/Cap Goods, Infra, Railways, Defence, Renewables, IT, Biofuels … Read more
