Divi’s & Container Corp may be removed from MSCI India Index
"In the current fiscal (2017-18) we expect to grow our business by about three times from existing levels and expect a market share of about 10-15 per cent in the next three years," abof.com president and CEO Prashant Gupta told PTI on the sidelines of India Fashion Forum here.
The financial services company, to be called Aditya Birla Financial Services Ltd, is planned to be listed by May or June.
The Aditya Birla Group today said it has received licence from the Reserve Bank of India to start payments bank.
"In allowing an equal relationship with Idea, Vodafone should have commanded a premium and better quality of control. But, the deal contours favour Idea Cellular," the report said.
The two top honchos, flanked by senior executives from both companies, called on the minister to discuss the details of the mega alliance, in a meeting that lasted half an hour.
Idea expects revenues to grow in double digits post-FY19; data capacity set to increase 25-50 times following the merger next year.
Telecom sector has undergone change over the years especially after the entrance of Reliance Jio. While on one hand, the sector witnessed consolidation in terms of players, on the other hand, competitive intensity has been equally high, suggest experts.
The merger could signal the beginning of the end of cheap tariffs with fewer players left in the fray.
The combined entity will become the country's largest telecom operator by subscriber case followed by Bharti Airtel and Reliance Jio.
"An half an hour meeting was held between J S Deepak and Colao at Vodafone set up at Mobile World Congress," a source said.
Hindalco Industries's Birla copper unit has a mega copper smelting and refining complex at villages Lakhigam and Dahej in Bharuch district.
Hindalco Industries's Birla copper unit has a mega copper smelting and refining complex at villages Lakhigam and Dahej in Bharuch district. It now wants to expand its continuous cast copper rod plant in the existing premises of this unit.
In yet another consolidation in telecom industry, India‘s largest telecom operator Bharti Airtel informed the bourses on Thursday that it will acquire Telenor India assets. The move comes at a time when new entrant Reliance Jio has acquired 100 million users and the market is awaiting response on a potential Vodafone-Idea merger.
The new merged entity, say analysts, may have the Vodafone and the Birla Group holding 37.5 percent each in the joint venture.
Vodafone Plc said that any merger would be effected through issue of new shares in Idea to Vodafone.
The merger, if it goes through, will create India‘s largest telecom player both in revenues and subscribers. The combined entity will create India's largest telecom company with revenues of over Rs 80,000 crore.
Aditya Birla Group company Grasim Industries' third quarter profit on standalone basis may grow 33 percent year-on-year to Rs 347 crore, led by operational performance in VSF and chemical businesses.
The conglomerate already has investments of Rs 10,000 crore in the state across sectors like telecom, retail and cement.
With thrust on environment and mineral conservation, Indian Bureau of Mines has asked mining companies to take steps for proper water discharge, solid waste management and controlling air pollution in mining areas.
Aditya Birla Group firm Grasim Industries, a leading producer of viscose staple fibre, has sought a "fibre neutral" policy from the government by removing 12.3 percent excise duty levied on viscose fibre as its rival cotton industry is exempted from such levy.
Speaking to CNBC-TV18 Ajit Ranade, Chief Economist at Aditya Birla Group said that he believes there is a need to increase duration of long-term capital gains window to 3 years from 1 year while maintaining the tax rate at 0 percent.
Competition Commission has ordered a detailed probe against Aditya Birla group firm Grasim Industries for alleged discriminatory pricing ways in the sale of viscose staple fibre, a raw material used for making fabric.
The current quarter would be a period of adjustment for most companies in view of short term problems related to demonetisation of high value currency notes, a top official Aditya Birla Group said today.
Idea Cellular shares rallied 5 percent intraday Tuesday after sources close to the telecom operator told CNBC-TV18 that the company is likely to sell 100 percent stake in its tower subsidiary.