Business

Automotive component maker Varroc eyes global acquisitions

Automotive component maker Varroc eyes global acquisitions

  Aim to be one of the top 3 external lighting systems providers to OEMs: CFO Varroc Group, one of the largest auto component manufacturers in India, is scouting for acquisitions to emerge as one of the world’s top three suppliers of external lighting systems to global original equipment manufacturers …

Read More »

RIL-JM Financial combine to buy Alok Industries

RIL-JM Financial combine to buy Alok Industries

Committee of creditors approve the ₹5,000-crore deal Mukesh Ambani-led Reliance Industries Ltd. (RIL) along with JM Financial Asset Reconstruction Company (ARC) has won lenders’ approval to buy insolvent textile firm Alok Industries for about ₹5,000 crore. “Our resolution plan for Alok Industries is around ₹5,000 crore and it has been …

Read More »

Committed to AI divestment: Sinha

Committed to AI divestment: Sinha

Will consider other alternatives depending on market conditions, says MoS The government is committed to the strategic disinvestment of Air India even though the bid process initiated in March failed to attract private players, Minister of State for Civil Aviation Jayant Sinha said on Wednesday. However, it is still unclear …

Read More »

Rising oil prices to hit private consumption says Urjit Patel

Rising oil prices to hit private consumption says Urjit Patel

Reserve Bank of India’ governor Urjit Patel said the recent increase in oil prices could impact private consumption adversely during the meeting of the Monetary Policy Committee held earlier this month, the minutes of which was released by the central bank on Wednesday. In the June policy meeting, the six …

Read More »

AirAsia Group refutes charges made by CBI

AirAsia Group refutes charges made by CBI

Will challenge allegations, says board The board of AirAsia Group Berhad ‘strongly’ refuted all allegations made in the First Information Report registered by the Central Bureau of Investigation as ‘baseless, unsupported and unjustified’ and said it would challenge the allegations. “We question the motives of the unnamed person, persons or …

Read More »

Brokerages tip Bakhshi as next CEO of ICICI Bank

Brokerages tip Bakhshi as next CEO of ICICI Bank

Sandeep Bakhshi, who is seen as the stand-in chief executive of ICICI Bank, may well end up succeeding MD & CEO Chanda Kochhar, if the latter does not return from leave, analysts said. On Monday, the lender appointed Mr. Bakhshi as chief operating officer and whole-time director for five years, …

Read More »

Chanda Kochhar to go on leave till probe gets over

Chanda Kochhar to go on leave till probe gets over

Remains MD and CEO; Sandeep Bakhshi appointed COO to run bank in the interim ICICI Bank’s MD and CEO Chanda Kochhar, at the centre of a row over conflict of interest, has decided to go on leave till an independent probe into the allegations is completed. The bank has appointed …

Read More »

Wall St. gets immune to trade war rhetoric

Wall St. gets immune to trade war rhetoric

For investors, it is a negotiating tool’ Fears of tariffs and a potential global trade war have jostled U.S. stocks over the past few months, but there is a sense among investors that the market is taking the drum beat of rhetoric and statements more in stride. In the latest …

Read More »