POLITICS
Samsung’s persistent labour trouble in TN points to DMK’s weak grip on its coalition partners
Since September last year, Samsung’s unit in the state has seen intermittent labour trouble. Evidence shows that the underlying issue is about political power play as CITU, affiliated to the CPM which is a constituent in the ruling DMK-led coalition, is now magnifying the issue by calling for a protest in other industrial parks. The developments undermine the state’s investment policy, but the ruling party appears paralysed
ENTERTAINMENT
Vijay makes a grand entry but it’s premature to forecast a blockbuster
Tamil cinema’s matinee idol is swimming against the tide. During almost 60 years of Dravidian political domination, other movie stars have tried to launch their own political vehicle to create space. None succeeded and they remain footnotes in the Tamil Nadu’s political history. If Vijay wants to be different, he needs to remember politics is not a sprint. Does he have the stamina for a marathon?
INDIA
Samsung test for TN when it’s rolling out the red carpet
Industrial action at Samsung puts Tamil Nadu government in a tight corner as it comes in the midst of the state’s concerted effort to attract investment in electronics. Fiscal incentives alone are inadequate to draw in investment. Industrial climate matters
POLITICS
TM Krishna award row: Annamalai, Zoho's Sridhar Vembu back Ranjani-Gayatri
The Music Academy’s conferment of the Sangita Kalanidhi title on TM Krishna and the divide among the Carnatic music fraternity has now spread to other sections of the society and even stoked political reactions.
BUSINESS
Why this Chennai-based company has given a 33% stake to its employees
Ideas2IT’s ownership move is aimed at ensuring its employees have a ‘pleasurable’ journey and become true partners in the company's success.
BUSINESS
For Kothari Industrial Corp, footwear foray could be a game-changer: MD Rafiq Ahmed
KICL came under Ahmed-led management a few years ago. Under his leadership, KICL has emerged out of its debt and made forays into areas such as drones and footwear
BUSINESS
Global players more willing to source from India than earlier: Wheels India MD
Srivats Ram says that Indian companies have benefitted a lot from the China-plus-one opportunity. The de-risking momentum, he says, is just starting to pick up steam and there is more excitement ahead
BUSINESS
NCLT restores Hotel Le Royal Meridien to original promoter after lenders unanimously back settlement proposal
Hotel Le Royal Meridien Chennai and Le Meridien Coimbatore back with App Hotels Ltd; resolution professional discharged of duty.
INDIA
Dr S. S. Badrinath: Sankara Nethralaya's visionary founder is no more
He demonstrated that an organisation can both be charitable and efficient at the same time. The appreciation for his work was such that corporates and donors came of their own volition to lend support.
BUSINESS
India Cements to recall loans given to group firms to meet working capital needs
The advance recall would result in immediate easing of working capital pressures.
BUSINESS
Murugappa family completes family arrangement with Valli Arunachalam; latter to withdraw legal proceedings
Valli, daughter of the late M V Murugappan, former head of Carborundum Universal Ltd, wanted a board seat in Ambadi Investments Ltd (AIL), the holding company of the group, or the family members to buy out the 8.15 percent stake held by herself and her sister in AIL.
AUTOMOBILE
Wheels India plans wholly-owned arms in US, Europe to tap growth potential
Expects to maintain export momentum in the second half; increase the renewable energy in its basket to about 75 percent by 2026 from 26 percent now, said Managing Director Srivats Ram.
BUSINESS
Coromandel Engineering’s new owners clear deck for open offer
The escrow account for the open offer now has all the funds needed to buy up the shares held by minority investors in the company.
BUSINESS
Coromandel Engineering sold to Allied Distillers and 3 others for Rs 32.87 cr
New owners have announced an open offer for the acquisition of up to 84,68,244 fully paid-up equity shares of Rs 10 face value at Rs 13.50 per share from the public shareholders.
BUSINESS
Ram Charan inks pact with Bhilai Steel Plant for greenhouse gas emission management
The Chennai-based company will set up a proof-of-concept plant, which will be scaled up based on the results. Ram Charan estimates an investment of Rs 6,000 crore in equipment.
BUSINESS
India Cements sells land in Andhra Pradesh to UltraTech Cement for Rs 70 crore
The move is part of the exercise by ICL to monetise some of its non-core assets for improving liquidity and operating performance.
BUSINESS
Central PSU Hindustan Photo Films put on the auction block
The company’s operations have been at a standstill since June 2013. A combination of factors, from obsolete technology to weak marketing and high input costs, pushed HPF to the brink. The digital revolution proved to be the last nail in its coffin.
TRENDS
Srinivasan, daughter Rupa return as promoters of CSK team owner
The Srinivasan family’s ownership is now 28.14 percent and comes after they disassociated themselves from the national and state-level cricket boards.
SPORTS
CSK FY23 profit after tax surges to Rs 52.17 crore
The owner of the reigning IPL champion reported total revenue of Rs 29,234.36 lakh for the year.
