Kumar Mangalam Birla

Time for India Inc to join the capex party and invest more, says Birla

Industrialist Kumar Mangalam Birla on Friday exhorted India Inc to push up the pedal on investment. The government has increased its capital expenditure five-fold in the last decade, Birla said while speaking at a Bombay Chamber of Commerce and Industry's 189th foundation day event here. In the comments that come amid concerns of slowing private capex, chairman of the Aditya Birla Group said his diversified grouping and other large conglomerates have embarked on unprecedented capacity expansion spree. "It is now time for India Inc to join the party this investment fervour needs to be far more widespread," Birla said. "We (businesses) have the capacity and the responsibility to define the vision for development and shape the India of tomorrow," the billionaire added. The comments come at a time when growth has hit a seven-quarter low of 5.4 per cent for the July-September period as per official data. Reluctance to invest and a preference to operate at higher capacities has been ...

Birla confident of VIL turnaround; fundraise, capex cycle bolster telco

Fundraise and subsequent capex cycle have placed Vodafone Idea on a more secure footing, ensuring it remains dynamic and competitive, Aditya Birla Group Chairman Kumar Mangalam Birla said on Tuesday exuding confidence about the telco scripting a turnaround. During the inauguration of IMC and ITU-WTSA 2024, Birla told reporters that while Vodafone Idea Ltd (VIL) has been written off several times in the past, it is about time that such impressions about the company are shed. Speaking at the inaugural ceremony, Birla said he is confident that with continued support of the government, VIL will do its part in realising India's digital destiny. "With the continued support of the government, I am confident that we will do our part to realise the Prime Minister's digital India destiny. I am a firm believer in the transformative power of India's telecom sector and I see it as a bridge to a more connected, empowered and prosperous India," Birla said. It is pertinent to mention that promoter

Grasim achieves highest-ever Ebitda of Rs 20,837 cr: Kumar Mangalam Birla

Speaking at the company's 77th Annual General Meeting, Kumar Mangalam Birla said that Grasim Industries invested Rs 7,000 crore in its paints business

Ambani, Bajaj, Birla collectively hold $460 bn, equating to Singapore's GDP

India's most valuable family businesses are collectively worth a whopping Rs 6,009, 100 crore, as per anewly released report which has unveiled the country's most influential family-owned enterprises.

Billionaire battle heats up as Adani challenges Birla in cement space

The clash of titans is likely to intensify as the deep-pocketed tycoons seek to dominate supplies of a building material that is critical to sustaining India's infrastructure boom

Budget 2024: FM Nirmala Sitharaman unveils road map for 'Viksit Bharat'

The government's focus on employment and skilling is at the heart of this ambitious plan

Kumar Mangalam Birla to invest $50 mn to build new chemical plant in Texas

The project will involve a 'state-of-the-art advanced materials site' on 35 acres in Beaumont, Texas

Billionaire Birla's Novelis seeks to complete US IPO as soon as June

Hindalco is seeking to raise about $1.2 billion in the IPO for Atlanta-based Novelis and may target a valuation of about $18 billion, Bloomberg News has reported

VIL shareholders approve plan to raise authorised share capital to Rs 1 trn

Debt-ridden telco Vodafone Idea shareholders have approved a proposal to raise its authorised share capital to Rs 1 lakh crore and issue equity shares on a preferential basis to promoter group firm Oriana Investments, a regulatory filing said on Thursday. According to the scrutiniser report of the extraordinary general meeting (EGM) held on May 8, all special resolutions have been approved by the majority of the shareholders, with a minuscule percentage of voters opposing them. "All the resolutions mentioned in the EGM Notice....stand passed with requisite majority," the scrutiniser report said. Vodafone Idea (VIL) has sought shareholders' nod to raise companies authorised share capital to Rs 1 lakh crore from Rs 75,000 crore, following its recent Rs 18,000 crore follow-on offering (FPO). The company had also sought shareholders' nod to issue preferential shares worth Rs 2,075 crore to promoter group firm Oriana Investments Pte- an Aditya Birla Group entity.

K M Birla's Hindalco Industries mulls seeking $1.2 bn in Novelis IPO

Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, the people said, asking not to be identified because the matter is private

'Hardest decision', says Ananya Birla as she quits music for business

Ananya Birla is the founder of microfinance company Svatantra Microfin and design house Ikai Asai; she is the elder daughter of Aditya Birla Group chairman Kumar Mangalam Birla

India's biggest FPO in the bag: Birla says Vi to make 'smart turnaround'

India deserves three private telecom companies, says chairman of Aditya Birla Group

Fundraise of Rs 18,000 cr 'fresh lease of life' for Vi, says KM Birla

Aditya Birla Group chairman Kumar Mangalam Birla on Thursday said the Rs 18,000-crore fundraise by Vodafone Idea is a "fresh lease of life" for the company and asserted that the telco will stage a smart comeback. The company, which has been struggling to hold on to subscribers amid aggressive play by bigger rivals Reliance Jio and Bharti Airtel, will focus on increasing its network, densifying it and also selectively introduce 5G services, Birla told reporters at the listing ceremony of Vodafone Idea's follow-on public offer. Calling it as the beginning of 'Vi 2.0', Birla said the money raised will be invested in the business, which will trigger a cycle of growth. "Vi will stage a smart comeback, this moment marks the beginning of Vi 2.0," Birla said at the listing ceremony. When asked if most of the problems for the company get sorted with the capital raise, Birla answered in the affirmative. "And this is like a sort of fresh lease of life for the company," he said. He credited

Vodafone Idea to meet institutional investors in Singapore, Mumbai

The telecom operator is looking to raise Rs 45,000 crore through both debt and equity

Anant-Radhika pre-wedding: Rihanna's 'massive' 12-foot luggage in Jamnagar

The pre-wedding functions of Anant Ambani and Radhika Merchant began from Friday, 1 March and will go on till 3 March. Ceremony will mark the presence of big stars including pop icon Rihanna

Vodafone Idea plans to raise up to Rs 45,000 crore through equity, debt

Funds to be spent on 4G & 5G networks, capacity expansion

Grasim enters paint biz with Birla Opus, aims Rs 10k cr revenue in 3 years

The company has also inaugurated three plants of Birla Opus at Panipat (Haryana), Ludhiana (Punjab) and Cheyyar (Tamil Nadu)

Grasim gains 2%, hits record high on paint biz launch; Asian Paints dips 2%

The company will launch Birla Opus Paints Business and inaugurate three Birla Opus Paints plants at Haryana, Punjab and Tamil Nadu today on February 22, 2024.

Billionaire Birla's Hindalco Industries bids for critical minerals leases

India currently needs to import most critical minerals, and access to local mines is important for the growth of the electric vehicles market and the renewable-power sector.

Indian economy is 'looking like a wow': Birla

India is striding forward with unwavering optimism even as large pockets of the world remain engulfed in pessimism, Birla added