Top headlines: Reliance ups ante with Campa, Adani to sell stake in Ambuja

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A Jio moment in cola war? Reliance ups the ante with iconic brand Campa

Can Reliance play the price warrior combined with leveraging its own retail distribution to take on the might of global beverage giants Coke and Pepsi? On Thursday, Reliance Consumer Products Ltd (RCPL) which had bought retro brand Campa Cola from Delhi-based Pure Drinks for Rs 22 crore a few months ago, announced the launch of the brand across the country beginning with Andhra Pradesh and Telangana. Read more

SVB chief Greg Becker sold $3.6 mn in stock days before bank's failure

Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure. The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings. He filed the plan that allowed him to sell the shares on Jan. 26. Read more

Adani group seeks to sell stake in Ambuja Cements for $450 million

Gautam Adani is seeking to sell a stake in Ambuja Cements for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. Adani on Thursday made a formal request to international lenders to sell 4 per cent to 5 per cent in Ambuja Cements, his cement business, the report said. Read more

Silicon Valley Bank jitters likely to be felt among Indian start-ups

The crisis at Silicon Valley Bank (SVB), which is in talks on sale after efforts to raise capital failed, may have consequences for the Indian start-up world. According to the Tracxn data, SVB has invested in close to 21 start-ups in the country. But the amount of investment could not be ascertained. Read more

PowerMin expects 20 million tonnes domestic coal shortfall in April-June

Ahead of peak electricity demand season, the power ministry has informed power generators a shortfall of 20 million tonnes (mt) in the domestic coal supply during the first quarter of financial year 2023-24. In a presentation to all the stakeholders, the ministry has indicated a shortfall of domestic coal and railway rakes in the coming months. Business Standard has reviewed a copy of the presentation. Read more