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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.
Long known to be conservative with cash, the Aditya Birla Group chairman is on an acquisition and expansion spree. A lot of it has to do with the sudden threat to his cement dominance—his pride and joy.
In July, Kumar Mangalam Birla gained control of Chennai-based India Cements. He spent nearly Rs 6,000 crore—over two tranches—to pick up a 55% stake in the company and may have to fork out a further Rs 2,400 crore on a mandatory open offer for 20% more. The deal was Birla’s second in the cement space in nine months, having earlier bought Kesoram Industries’ unit in a share swap in November 2023.
The two acquisitions are in addition to the Rs 13,000 crore organic expansion plan that Birla announced in August 2023 at the annual general meeting of Ultratech Cement, the …
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.
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
