Page 2 - Aditya Birla

This Aditya Birla Group stock has zoomed 60% in 4 weeks; up 115% since Apr

Shares of Century Enka hit a record high of Rs 863.90, as they surged 12% on the BSE in Wednesday's intra-day trade in an otherwise range-bound market.

After 8 yrs of preliminary inquiry, CBI books Hindalco for corruption

The CBI has booked the country's leading aluminium producer Hindalco of the Aditya Birla Group for alleged corruption in getting environmental clearances for coal mining between 2011 and 2013, officials said on Tuesday. The agency has also named T Chandini, the then director in the Union Ministry of Environment and Forests, for favouring the company as member secretary of the Expert Appraisal Committee ((EAC) in allowing mining in the Talabira-I mine in the critically polluted area of Odisha's Jharsuguda in violation of ministry guidelines, they said. The central probe agency registered an FIR against Hindalco and Chandini under Section 120-B (criminal conspiracy) of the Indian Penal Code and provisions of the Prevention of Corruption Act after a nearly eight-year-long preliminary inquiry. Reacting to the FIR, a Hindalco spokesperson said, "This is an old matter pertaining to 2014-15. These mines were de-allocated as part of the government's de-allocation process. This is a matter o

JSW Cement enters race to acquire promoter stake in Orient Cement

Aditya Birla and Adani groups have been aggressively acquiring cement firms to expand their manufacturing units, JSW has not also entered the race

Aditya Birla Group to invest $50 mn in manufacturing, R&D centre in Texas

Aditya Birla Group has announced an investment of USD 50 million in a manufacturing and research and development (R&D) center in Texas. Aditya Birla Group's Vice President of Sales and Marketing Scott Bastion said the company will be making a USD 50-million investment outside of Houston in the city of Beaumont, Texas, where it will produce epoxy resins -- that are used in a variety of consumer and industrial products. "In that site, we will have an application development center and will house an R&D team. We look forward to commissioning that site in the next 15 to 20 months. "In addition to that, we look forward to bringing greener solutions, sustainable solutions, and more importantly, being able to serve as well as expand the global footprint of our epoxy business," Bastion said. Aditya Birla Group already has a foundation in India, Thailand, as well as Europe. "This will be the fourth expansion on behalf of the epoxy business into the USA. This is the first phase of our ..

India's $100-billion mcap club grows to eight with three new entries

The Aditya Birla group has seen its market value jump by more than 50 per cent, making it the latest entrant to the $100-billion club

ABFRL Q4 results: Net loss at Rs 266.35 crore, revenue at Rs 3,406.65 cr

Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 266.35 crore for the fourth quarter ended March 2024. The company had posted a net loss of Rs 194.54 crore during the January-March quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its revenue from operations was at Rs 3,406.65 during the quarter under review against Rs 2,879.73 crore in the year-ago period. According to the Aditya Birla group firm, the consolidated financial results for the quarter that ended March 31, 2024, are "not comparable with previous quarters" pursuant to the acquisition of TCNS Clothing and Styleverse Lifestyle. Its total expenses were at Rs 3,813.87 crore in the March quarter. The established businesses continue to navigate market headwinds while maintaining a sharp focus on profitability enhancement, said ABFRL in an earning statement. Its revenue from the 'Madura Fashion & Lifestyle' segment was at Rs 1,861.75 crore. ..

Aditya Birla Capital Q4 result: Consolidated net profit up 33% at Rs 812 cr

The company's consolidated revenue grew by 32% Y-o-Y to Rs 12,079 cr

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

Birla targets top 3 spot in mutual fund, lending, and life insurance

Aims to add 30 mn users in 3 years on the back of new financial services platform

Action is in India, makes sense to focus on market here: Berger Paints CEO

Company is 'cautious' after Aditya Birla group's entry in the sector but it is not worried, says Abhijit Roy

AI can reshape socio-economic landscape of nations: Kumar Mangalam Birla

He emphasised the need to build on AI and use its potential for enhancing healthcare, agriculture, education, and other segments

TMFs: Capture current high yields by staying invested till maturity

Select a fund with a longer duration to gain from possible rate cuts next year

Aditya Birla Sun Life AMC collects about Rs 800 cr from logistics fund NFO

Aditya Birla Sun Life AMC Ltd on Wednesday said it has collected nearly Rs 800 crore through its transport and logistics scheme during the new fund offering (NFO) period. The asset management company mobilised the amount from its thematic fund -- Aditya Birla Sun Life Transport and Logistics Fund -- during the NFO period from October 27 to November 10. The fund reopened for subscription on November 21. The open-ended equity oriented thematic fund received a huge response from 53,777 investors and has garnered a total of Rs 798.89 crore, the company said in a statement. "This fund is a unique offering that captures the growth potential of the transportation and logistics sector, which is a key driver of the Indian economy. The fund aims to provide long-term capital appreciation by investing in companies that are well-positioned to benefit from the structural changes and emerging trends in the sector," A Balasubramanian, Managing Director and CEO at Aditya Birla Sun Life AMC, said. T

Aditya Birla Capital Q2FY24 result: Net profit at Rs 705 cr; income up 13%

Aditya Birla Capital Q2 result: The company's revenue from operations was up 13.04 per cent to Rs 7,720.66 crore during the quarter under review against Rs 6,829.82 crore last year

Ultratech Cement Ltd Q2FY24 result: Net profit jumps 68% YoY to Rs 1,280 cr

The revenue from operations for Q2FY24 came in at Rs 16,012.13 crore, compared to Rs 13,892.69 crore year-on-year

Birla Carbon acquires Belgium based Nanocyl for undisclosed amount

Aditya Birla group firm Birla Carbon on Wednesday announced the acquisition of Belgium-based Nanocyl SA for an undisclosed amount. The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl. Birla Carbon is a leading manufacturer and supplier of high-quality carbon solutions. "The acquisition expands Birla Carbon's presence in the Energy Systems market, creating a leadership position in material critical to Lithium Ion battery performance, along with other conductive applications," the statement said. The inclusion of Nanocyl's advanced multi-wall carbon nanotubes (MWCNTs) provides Birla Carbon with a remarkable range of solutions for conductive applications, it added. Financial details of the deal were not disclosed. "Birla Carbon has been nurturing a number of innovation opportunities in its effort to realise its multi-prong sustainability agenda. The acquisition of .

Aditya Birla Fashion & retail to raise Rs 750 cr on or after September 4

Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday. The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing. "The Company proposes to raise funds by issuing 75,000 listed, unsecured, rated, redeemable non-convertible debentures of face value of Rs 1,00,000 (Rupees One Lakh only) each issued at par aggregating to Rs 7,50,00,00,000 (Rupees Seven Hundred Fifty Crores Only), on private placement basis, on or after September 4, 2023," the filing said. In a separate filing, the company said that it has completed the acquisition of a 29 per cent stake in TCNS Clothing Co Limited pursuant to the open offer. The 29 per cent stake is estimated to be over Rs 941 crore. As per an earlier announcement, ABFRL acquired a 51 per cent stake in TCNS for about Rs 1,650 crore.

UltraTech Cement FY23 sales grow by 12.4% to 105.7 million tonnes

Leading cement maker UltraTech's consolidated sales rose by 12.4 per cent to 105.7 million tonnes (MT) in FY2022-23, Aditya Birla group firm said in a regulatory filing on Saturday. The company produced 94 MT of cement in FY22. Its total sales volume in the domestic market also crossed 100 MT for the financial year that ended on March 31, 2023. UltraTech's total sales volume for the India market in FY23 was at 101.7 MT, up 13.63 per cent compared to 89.5 MT a year ago. "We are pleased to inform the company has achieved 100 million tonnes of production, despatches and sales in FY23," it said. Its grey cement production in the domestic market was at 100.1 MT in FY23, reporting 13.75 per cent growth while its white cement production was 1.5 MT, up 11 per cent. UltraTech's overseas production, mainly grey cement was 4.4 MT in FY23. For the fourth quarter that ended on March 31, 2023, UltraTech's total consolidated sales volume was at 31.7 MT and its India volume was at 30.5 MT. Ult

Aditya Birla Group expands its portfolio, adds four restaurant brands

Aditya Birla New Age Hospitality (ABNAH) has added four restaurant brands, namely Hakkasan, Yauatcha, Nara Thai, and CinCin to its portfolio

SBI Caps asks ARCs to make final offers for Vidarbha Industries' debt

Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source