Piramal Enterprises to merge with unlisted subsidiary and renamed

Piramal Enterprises (PEL ) has approved it’s merger with wholly owned subsidiary Piramal Capital & Housing Finance (PCHFL). Post merger the the resultant entity will be renamed as Piramal Finance (PFL). Current businesses of PEL and PCHFL PEL is a non-deposit taking Non-Banking Finance Company – Investment and Credit Company (NBFC- ICC), engaged in the … Read more

Birla eyes $1.2 billion from Novelis IPO

Billionaire Kumar Mangalam Birla‘s Hindalco Industries is considering seeking about $1.2 billion in a planned IPO of US aluminium products maker Novelis, people familiar with the matter said, in what could be one of the year’s biggest share sales. Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, the people said. The … Read more

India not xenophobic, but one of the most welcoming nations: S Jaishankar

External affairs Minister S Jaishankar rejected US President Joe Biden’s description of India as “xenophobic” and grouping it with countries said to be economically troubled. “First of all, our economy is not faltering,” he said at the ET Roundtable on Friday. “India is always… India has been a very unique country… I would say actually, … Read more