Kumar Mangalam Birla

After reports confirmed that Kumar Mangalam Birla has offered to hand over his stake in Vi to a government entity, the company's shares tumbled over 16 percent.

The telecom department is firming up a relief package for the sector, one official said

According to official data, VIL had an adjusted gross revenue (AGR) liability of Rs 58,254 crore out of which the company has paid Rs 7,854.37 crore and Rs 50,399.63 crore is outstanding.

Nitish Kumar, who is the de facto leader of the JD(U), however, asserted that divergent stands adopted by his party and the BJP, which heads the Union government, on the issue will not affect the coalition.

As India’s cement industry seeks to make a comeback this year after shrinking last year on account of the pandemic, UltraTech Cement is gearing up by expanding its production capacity.

The silver lining, however, was the lesser severity of disruptions to production and supply chains during the second wave of the pandemic than during the first wave, said Birla in the later annual report of group firm UltraTech Cement Ltd.

Citi said it has a buy rating on three Aditya Birla Group stocks - UltraTech Cement, Hindalco and Grasim Industries.

Birla also rejected the idea that intelligence quotient and emotional quotient are “binary”, adding that these traits are “rather complementary” and “make a personality wholesome”.

He said the new framework of asset reconstruction for example, the entire insolvency regime, will go a long way in solving the NPA problem both of banks and as corporates, which in any case, is looking much better.

Aditya Birla Group has unveiled plans to invest in about $2.4 billion across businesses in the past few weeks, as according to Kumar Mangalam Birla 'the vaccines roll out, and governments and central banks provide stimulus, India will be among economies to rise above pre-pandemic levels'.

The paints sector registered 11 percent revenue CAGR during FY14 to FY19.

Flipkart and Aditya Birla Fashion had announced the agreement in October last year.

In a letter to self, Kumar Mangalam Birla shared his reflections from the past year and his learnings through the COVID-19 pandemic

Upon completion of the latest round of expansion, Ultratech's capacity will grow to 136.25 MT per annum, reinforcing its position as the third-largest cement company in the world, outside of China.

This year will see an economic contraction, but this 2020 recession is likely to be one of the shortest, assuming no second wave of the pandemic recurs, says Kumar Mangalam Birla

Most global economies are expected to shrink this year, Kumar Mangalam Birla said.

The company is also targeting to increase its annual capacity to 118 million tonnes from 114.8 million tonnes currently, he informed the company's shareholders during its virtual annual general meeting.

Mittal said the telecom sector has been under stress for the last three-and-a-half years and the government should focus on its sustainability.

Birla refused to respond to queries on whether or not Vodafone Idea Ltd (VIL) would default on payment of AGR dues or if the company could head towards insolvency.

Birla said it is this generation that came to the forefront and asked questions about the kind of future that is being shaped for them, which has in turn nudged companies to look for the right answers.