ADITYA BIRLA GROUP
![UltraTech raises $500 million through sustainability-linked financing](https://img.etimg.com/thumb/msid-112810621,width-100,height-75,resizemode-4/markets/stocks/news/ultratech-raises-500-million-through-sustainability-linked-financing.jpg)
UltraTech raises $500 million through sustainability-linked financing
UltraTech Cement raised $500 million through a sustainability-linked loan, marking its second such endeavour after a 2021 bond issuance. Six banks, including SMBC and SBI, participated. The company posted a slight increase in net profit for the quarter ended June 30, 2024, compared to the previous year, with revenue also seeing a modest rise.
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30 defence, other PSU stocks in bear grip. Will the multibagger magic end?
After a robust performance, 30 PSU stocks have entered the bear market, prompting mutual funds and FIIs to reduce stakes. Despite strong government reforms bolstering these stocks, experts indicate current valuations are high and a correction period may be necessary. PSUs with high capital efficiency may continue to attract investors.
![Vi's network expansion plans may take a hit on vendor payment jinx](https://img.etimg.com/thumb/msid-112634708,width-100,height-75,resizemode-4/industry/telecom/vis-network-expansion-plans-may-take-a-hit-on-vendor-payment-jinx.jpg)
Vi's network expansion plans may take a hit on vendor payment jinx
Vodafone Idea's plans to expand its 4G and launch 5G have encountered issues as financial negotiations with Ericsson and Nokia are stalled due to payment term disagreements. The vendors rejected Vi's cash-and-stock payment proposal. They also expressed concerns about swapping existing Chinese equipment due to potential service disruptions and high costs, although Vi denied these issues.
![Hindalco onboards Ananya Birla, Aryaman Birla as additional non-executive Directors](https://img.etimg.com/thumb/msid-112497902,width-100,height-75,resizemode-4/markets/stocks/news/hindalco-onboards-ananya-birla-aryaman-birla-as-additional-non-executive-directors.jpg)
Hindalco onboards Ananya Birla, Aryaman Birla as additional non-executive Directors
The Board of Hindalco Industries approved the appointment of Ananya Birla and Aryaman Vikram Birla as Additional Non-Executive Directors of the company.
![Aditya Birla Group Chairman Kumar Mangalam Birla's children inducted on board of Hindalco](https://img.etimg.com/thumb/msid-112496830,width-100,height-75,resizemode-4/news/company/corporate-trends/aditya-birla-group-chairman-kumar-mangalam-birlas-children-inducted-on-board-of-hindalco.jpg)
Aditya Birla Group Chairman Kumar Mangalam Birla's children inducted on board of Hindalco
Hindalco Industries added Ananya Birla and Aryaman Vikram Birla to its board of directors, leveraging their business experience, including microfinance and entrepreneurship. Anjani Kumar Agrawal and Sukanya Kripalu were also inducted as independent directors, and Bharat Goenka was named CFO (Designate), marking a strategic move for the company's growth phase.
![UltraTech Cement's open offer for ICL to open on September 19](https://img.etimg.com/thumb/msid-112411711,width-100,height-75,resizemode-4/industry/indl-goods/svs/cement/ultratech-cements-open-offer-for-icl-to-open-on-september-19.jpg)
UltraTech Cement's open offer for ICL to open on September 19
UltraTech Cement announced a Rs 3,142 crore open offer to gain a 26% stake in India Cements Ltd, scheduled from September 19 to October 3. This followed a prior acquisition, boosting their stake to 55.49%. The purchase aimed to enhance UltraTech's footprint in the competitive southern Indian cement market, especially in Tamil Nadu.
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Rise in construction activities to propel India's cement demand by 7-8% in FY25: UltraTech
UltraTech Cement anticipates a 7-8% growth in cement demand this financial year, driven by increased construction activities. The industry was set to add 35-40 million tonnes of capacity, mostly in the eastern and southern regions. This demand surge expected to raise the capacity utilization to 72% in FY25 from 68% in FY23.
No need for anybody in India Cements to feel insecure: MD Srinivasan to staff
India Cements Vice Chairman and MD N Srinivasan reassured employees that despite the ownership change to UltraTech, their careers would remain stable and rewarded. UltraTech Cement will acquire 32.72 per cent stake in India Cements for Rs 3,954 crore and offered an open bid for another 26 per cent. Srinivasan emphasised employee importance and legacy. He urged continued dedication in the competitive market.
Ultratech to buy 33% stake in India Cements
UltraTech Cement's Board has approved purchasing a 32.72% stake in India Cements from promoters and associates, following its prior acquisition of a 22.77% stake. The deal, subject to regulatory approvals, will enhance UltraTech's capacity in Southern India. Chairman Kumar Mangalam Birla highlighted the economic and infrastructural benefits of this investment.
UltraTech to build on its India cements stake
UltraTech Cement was in advanced talks to buy a 28.42% stake in India Cements from N. Srinivasan, raising its total holdings to 51%. This Rs 7,000 crore deal would trigger an open offer and significantly strengthen UltraTech's market share in southern India. N. Srinivasan's family has no interest in running the business after his retirement.
Decade later will they compete with global ones? May be some, 5 engineering stocks with an upside potential of 26%
It might appear far-fetched to be question and assumption today, but will Indian engineering companies which have an overlap with capital goods compete with global giants for orders in developed countries. To get the answer, one will have to go back close to three decades back and get an answer in two parts. First, Indian companies were the big supplier of manpower in the gulf countries as they were the sub-contractors of companies building infrastructure before the start of the first Iraq war. Second, Today, Indian companies get full infrastructure projects, like contracts worth billions of dollars to build gas compression systems. While they are far and few, after surviving a major slow down after the global financial crisis, Indian engineering companies have come a long way. Will exports be the next big frontier for them.
Aditya Birla group forays into jewellery retail with 'Indriya'
The Aditya Birla Group launched its new jewellery retail brand, Indriya, directly competing with Tanishq and Reliance Jewels. Indriya plans to be a top-three player in five years, leveraging India's shift towards branded jewellery. This Rs 5,000 crore initiative marks the group's entry during the festive season, aiming to capitalize on India's booming wedding market and rising preference for trusted brands.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts
When an economy is doing good, the street can absorb anything. In normal circumstances, a hike in STCG and LTCG would have made Nfty and sensex react in a very negative way. But on the day of announcement and subsequently, hike in taxes on gains made in the stock market, the market appears to have forgotten that even if the announcement was made. If nothing major happens in the next few trading sessions, there is a high probability that we have entered into a new bull phase. A phase where due to valuation, the street would be more stock and sector specific. FPI flows would be the key thing to watch as they were a set of investors who would probably be waiting for a budget, before making a move in Indian markets. If they come into markets, mid-cap stocks are likely to do well. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
An unnoticed trend: Industrial houses getting re-rated. After Tata and Mahindra, are Aditya Birla Group stocks next in line?
In the last four years, beside different sectors getting rerated there has been another sort of re-rating which has been going on the street. Re-rating which is based on the ownership of that set of companies or is commonly known as the industrial houses. In most cases, this has been happening post some kind of restructuring which has been done at group levels. Whether it is demerging, takeover or re-focussing some of the business into additional areas. Now some of the old industrial houses have one big strength, a number of them have real estate assets which can be monetized so they don't have to rush to the capital market or take additional debt when they are re- focusing their priorities. In a number of cases, this has led to unlocking of value and better valuation on the street.
Shoppers Stop plans large-format standalone outlets, will also house Aditya Birla Group’s The Collective
Shoppers Stop declined to comment. Since its inception over three decades ago, Shoppers Stop has been mostly selling merchandise for the masstige or bridge-to-luxury segment. The decision to foray into luxury retailing comes amid a spike in the number of wealthy people in the country. “For us, premiumisation is not just selling luxury products…but (if) a person who used to buy from the roadside has now started buying from the mall, (that) is also a premiumisation,” Kavindra Mishra, managing director and CEO of Shoppers Stop, had told ET last month.
Vodafone Idea's 'big' spectrum spend to help plug user exodus
Analysts added that Vi's spectrum spends of about Rs 3,510 crore - almost 12 times its Rs 300 crore earnest money deposit (EMD) - on the heels of a recent fundraise of about Rs 23,000 crore suggests the telco is preparing for network rollouts and plans to use its fresh 900 MHz spectrum to enhance 4G experience and rein in customer losses.
UltraTech buys 23% stake in India Cements
UltraTech, the Aditya Birla Group cement maker and the country's largest, bought 70.6 million shares of India Cements as a "non-controlling financial investment" at up to Rs 267 a share, the acquirer said in customary filings Thursday morning. UltraTech bought the shares from billionaire investor Radhakishan Damani, his family members and his investment firms Derive Investments and Derive Trading and Resorts.
Aditya Birla Group’s chemical ops to foray in US with USD 50 million investment
The Aditya Birla Group is already present in the US through Hindalco Industries-owned Novelis Inc and Aleris Inc, and Georgia-based Birla Carbon. It currently has an investment of more than $15 billion in businesses in the US, and is the largest Indian investor in the US as of now.
Birla Estates acquires 16.5-acre land in Pune's Manjri
Birla Estates, a wholly-owned subsidiary of Century Textiles and Industries and part of the Aditya Birla Group, has acquired a 16.5-acre land parcel in Pune's Manjri locality. This acquisition has a development potential of approximately 32 lakh square feet with an estimated revenue potential of Rs 2,500 crore, according to a company release.
Birla Estates acquires 16.5 acre land in Pune; to build Rs 2,500 cr housing project
Birla Estates Pvt Ltd acquired a 16.5-acre land in Manjri, Pune for a housing project with a revenue potential of Rs 2,500 crore. It is a wholly-owned subsidiary of Century Textiles and Industries Ltd, part of the Aditya Birla Group. K T Jithendran, MD & CEO, stated Pune is a strategic market for them.
Hindalco defers Novelis’ $945 mn US listing
Hindalco Industries has postponed the proposed $945-million listing of Novelis Inc due to concerns about potentially below-premium valuations for the US subsidiary impacting the valuation of the Indian entity listed in Mumbai.
Hindalco-owned Novelis postpones US IPO
On Tuesday, Novelis, which is owned by the Indian billionaire Kumar Mangalam Birla's Hindalco Industries, announced the postponement of its initial public offering due to prevailing market conditions.
Suzlon Group gets 551 MW wind energy project from Aditya Birla Group
Suzlon Group has secured a 551.25 MW wind power project order from Aditya Birla Group, to be executed across two sites in Rajasthan and Gujarat. The project includes 368.55 MW to be developed in Barmer, Rajasthan, and 182.70 MW in Bhuj, Gujarat. Suzlon will install 175 wind turbine generators (WTGs), each with a capacity of 3.15 MW, and will also handle operations and maintenance post-commissioning.
Hindalco's US arm Novelis to list on NYSE in 2 weeks
Novelis IPO: Novelis on Tuesday launched a roadshow for its proposed initial public offering (IPO), where Indian parent Hindalco plans to sell 45 million shares, or a 7.5% stake, in the company at $18-21 per share.
Grasim promotor Birla Group hikes stake by 4.09% to 23.18% in company
There has been no change in the promoter/promoter group's total holding in the company, which remains at 43.06%. Shares of Grasim Industries closed at Rs 2,435.10 on the NSE on Tuesday, rising by Rs 44.45 or 1.86%. A part of the Aditya Birla Group, Grasim reported a 39% increase in its consolidated net profit for the quarter ended March 2024, excluding exceptional items. The net profit rose to Rs 1,908 crore, compared to Rs 1,369 crore in the same quarter last year.
Aditya Birla Group crosses $100 billion market capitalization milestone
The group has seen a surge of 11.42% this year. Vodafone Idea's successful Rs 18,000-crore FPO single-handedly effected a re-rating of the group stocks. The conglomerate’s market capitalisation rise has outrun Sensex, Nifty on a year-to-date basis.
Vi board approves allotment of equity shares worth Rs 2,075 crore to ABG entity
Vi's board approved allotting equity shares worth Rs 2,075 crore to an Aditya Birla Group entity, marking the conclusion of its over Rs 20,000 crore fundraising plan via the equity route.
Vodafone Idea approves Rs 2,075 crore preferential allotment to AB Group
The allotment aggregates to Rs 2,075 crore and will be issued to Oriana Investments Pte Ltd (Aditya Birla Group entity forming part of the promoter group)
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