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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Companies controlled by the two billionaires are engaged in a high-stakes contest for market share. While Adani wants to be No. 1, can he topple Birla from the summit?
In June-end, Kumar Mangalam Birla-led UltraTech Cement picked up a 23% stake in Chennai-based India Cements for Rs 1,889 crore. The stake—purchased in two block deals from DMart founder and ace investor Radhakishan Damani and family—makes UltraTech the second biggest shareholder in the company, second only to the promoter family led by N. Srinivasan, which holds 28.42%.
UltraTech, the largest cement producer in the country, chose to play down the deal, calling it a “non-controlling financial investment”. But few bought the explanation.
“It’s a waiting game,” says a senior executive from the industry, requesting anonymity. “Birla wants to acquire India …
The Rs 1,800 crore push into cables and wires may find it hard to rewire a market built over decades.
A quarter with subscriber gains portends well for the telecom operator, but its underlying metrics tell a more cautious story.
The Sprng Energy acquisition gives Aditya Birla Renewables instant scale and diversification. But high leverage, execution delays and margin pressures point to a tough test ahead.
