Page 3 - Aditya Birla

Sebi slaps Rs 10 cr penalty on Gautam Thapar for alleged fund diversion

Passes final order in CG Power fund diversion case; also fines Avantha Holdings Rs 5 cr and deal lenders IndusInd Bank and Aditya Birla Finance Rs 1 cr each

Grasim earmarks Rs 3,117-cr FY23 capex for existing business: Birla

Grasim Industries, the flagship company of Aditya Birla Group, would invest Rs 3,117 crore on its existing businesses in FY23, its Chairman Kumar Mangalam Birla said on Monday. This investment would be towards capacity creation and modernisation of plants. "For FY23, your company has earmarked Rs 3,117 crore for the existing lines of businesses excluding the paints and B2B e-commerce business," said Birla while addressing shareholders of the company. About the company's "strategic foray" into paints and B2B e-commerce, he said these are decisive steps for a strong growth. "Both paints and B2B E-commerce businesses complement the existing lines of business within the Grasim umbrella. They cater to a large market, offer access to new customer pools, and hold the promise of creating sustained stakeholder value," he said. The company's board has already approved a total capex of Rs 10,000 crore for the paints business, out of which Rs 605 crore has been spent till FY22, he ...

Invest in MNC funds for exposure to high-quality businesses: Experts

Since valuations are higher in this space, a 7-yr horizon with 10% capital outlay can be looked at

KSK Mahanadi Power loan account sold to Birla ARC, SBI deals for Rs1,622 cr

SBI has sold the non-performing loan account of KSK Mahanadi Power Company to Aditya Birla ARC for Rs 1,622 crore, accepting a haircut of almost 58 per cent against the total outstanding. KSK Mahanadi Power Company had total loan outstanding of Rs 3,815.04 crore towards State Bank of India (SBI) as of April 2022. "SBI initiated open offer e-auction towards sale of fund based exposure of KSK Mahanadi Power Co. Ltd on 100 per cent cash basis on April 20, 2022 for a reserve price of Rs 1,544.08 crore," SBI said in a regualtory filing on Thursday. The state-owned lender had received a total of 15 expression of interests (EoIs), while only one bid was received from Aditya Birla ARC for an amount of Rs 1,544.08 crore in an auction in end-May. In a Swiss challenge auction process in June, the lender said it received no competing bids and based on subsequent discussions, Aditya Birla ARC improved the offer to Rs 1,622 crore. SBI said the sale concluded on August 12, 2022 after getting ...

India at 75: From Ambanis to Bajaj - 20 doyens who shaped India's business

Each one of them has played a key role in the building of India, taking ideas and giving them wings. Here's a look at 20 leaders of India Inc who are inseparable from the idea of India

UltraTech Q1 net profit falls 7% to Rs 1,582.02 cr; net sales rise 28%

Aditya Birla group firm UltraTech Cement on Friday reported a decline of 6.94 per cent in its consolidated net profit at Rs 1,582.02 crore in the June 2022 quarter, impacted by inflationary trends. The company had posted a net profit of Rs 1,700.03 crore in the April-June period a year ago, UltraTech Cement said in a BSE filing. Its revenue from operations was up 28.18 per cent to Rs 15,163.98 crore during the quarter under review as against Rs 11,829.84 crore in the corresponding period of the last fiscal. "After a strong end to FY22, cement demand was impacted by overall inflationary trends and lower labour availability in May 2022. However, cement demand picked up in June 2022 on pre-monsoon construction activity," said UltraTech Cement in its earnings statement. The company's total expenses were at Rs 12,980.06 crore, up 36.51 per cent in Q1 FY23 as against Rs 9,508.26 crore. Shares of UltraTech Cement Ltd were trading at Rs 6,398.80 on BSE on Friday, up 4.40 per cent from the

Rupee at 80: How top Indian companies hedged themselves for dollar

Reliance Industries, the Tata group, Bharti Airtel, Aditya Birla among conglomerates that took forward positions

Aditya Birla FRL posts Rs 31.90 cr profit for Jan-Mar, sales up by 25.3%

Aditya Birla Fashion and Retail Ltd on Wednesday reported a consolidated net profit of Rs 31.90 crore for the fourth quarter ended in March 2022, led by a revival in demand across categories. The company had posted a net loss of Rs 195.86 crore during the January-March quarter of the previous fiscal, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing. Its revenue from operations was up 25.32 per cent to Rs 2,282.83 crore during the quarter under review as against Rs 1,821.58 crore in the corresponding period of the previous fiscal. "A rapid revival in demand across categories led to a robust quarterly performance despite the impact of the third wave of the pandemic. The investments in e-commerce and omnichannel expansion have shown results with rising consumer affinity for our brands," said an earning statement from ABFRL. ABFRL's total expenses were at Rs 2,266.06 crore, up 15.58 per cent in Q4/FY 2021-22, as against Rs 1,960.47 crore. Its revenue from Madura

Found no merit in whistleblower complaints, says Aditya Birla Capital

A news report on Monday said a 16-page whistleblower complaint alleging corruption, insider trading and front running at Aditya Birla MF was sent to the board of Aditya Birla Capital

2021 is a watershed year for India, says Kumar Mangalam Birla

The coming decade will witness a 'capex' boom by the private sector, Birla said

ABFRL posts Rs 5.09 cr profit for Jul-Sep, sales soar nearly 2-fold

Aditya Birla Fashion and Retail Ltd swung back into black in the July-september quarter of 2021 on the back of a strong rebound in the business, according to a regulatory filing. The company posted a net profit of Rs 5.09 crore for the quarter ended in September 2021 against a net loss of Rs 188.22 crore during the July-September quarter of the previous fiscal. Its revenue from operations jumped nearly twofold to Rs 2,054.34 crore during the quarter under review as against Rs 1,028.13 crore in the corresponding period of the previous fiscal, the company said in a regulatory filing. ABFRL, India's first billion-dollar pure-play fashion powerhouse, witnessed a strong business rebound with 90 per cent recovery over pre-COVID levels, the company said in a post earning statement. ABFRL's total expenses were at Rs 2,069.96 crore, up 52.56 per cent in Q2/FY 2021-22, as against Rs 1,356.81 crore. Its revenue from Madura Fashion & Lifestyle' segment was up over twofold to Rs 1,449.05 crore

Aditya Birla Sun Life MF ends below listing price on debut

The stock closed at Rs 699.6, down Rs 12.4 over issue price of Rs 712 per share; it touched a high of Rs 723 and a low of Rs 695 with shares worth Rs 600 crore changing hands

Street signs: Hotels stocks on investors' radar, Aditya Birla MF GMP at 10%

Shares of Indian Hotel have rallied nearly 30 per cent in the past one month

5G tech, new equity investors to be Vodafone Idea's calling card

Valuation gets a leg-up after bailout package

ICICI Pru MF and Aditya Birla MF launch bond index funds

ICICI Pru NFO open between September 16-27, that of Aditya Birla Sun Life between September 15-23

K M Birla offers to hand over his Vodafone Idea stake to government

Aditya Birla group Chairman KM Birla has offered to hand over his stake in debt-laden Vodafone Idea Ltd to govt or any other entity that govt may consider worthy to keep company operational.

GIC Housing Finance raises Rs 195 crore via non-convertible debentures

GIC Housing Finance on Tuesday said it has raised Rs 195 crore through issuance of (NCDs) to Aditya Birla Sun Life Mutual Fund on private placement basis

Aditya Birla AMC considering IPO, may join fund houses in opting to list

SBI AMC, India's largest asset manager, is said to be planning an IPO too

Vodafone Idea slips 4% amid reports of fund raising plan hitting a snag

Vi's talks with the Oak Hill consortium have not led to a binding agreement as there were unresolved issues around funding terms, a media report said

Power-packed jury to pick winners of BS Corporate Excellence awards today

Aditya Birla Group Chairman Kumar Mangalam Birla is the chairman of the seven-member jury