For three decades, India’s shipbuilding industry has largely been a defence industry driven by the government. Commercial newbuilds — tankers, bulkers, gas carriers and container ships that dominate global orderbooks — have gone mostly to China, Japan and South Korea. There is much talk of change now: Tamil Nadu’s new policy speaks of bringing Ulsan … Read more
ICICI Bank and Prudential Corp. Holdings have signed a letter of undertaking under which the UK insurer will temporarily give up board representation and abstain from voting on matters requiring special resolutions at ICICI Prudential Life Insurance while it pursues the acquisition of a controlling stake in Bharti Life Insurance, according to exchange filings on … Read more
Nippon Paint has made multiple offers for AkzoNobel’s decorative paints business in the past month, including a proposal valuing the unit at €7.5 billion ($8.55 billion) last week, Bloomberg News reported on Sunday, citing people familiar with the matter. Nippon Paint had previously sought to buy AkzoNobel’s entire business along with U.S.-based Sherwin-Williams for €12.5 … Read more
Lloyd Blankfein went from being a poor kid on a Brooklyn housing project to a Harvard graduate, a corporate tax lawyer, then the CEO of Goldman Sachs. His titanic change in circumstances required a major shift in mindset, Blankfein explained in “Streetwise,” his memoir published this spring. He wrote that “growing up in public housing, … Read more
HCL Technologies Ltd bagged a $1.14 billion, five-year contract from a European Fortune 50 company, ending a three-year mega-deal drought for the country’s third-largest tech services firm. The deal assures HCLTech $228 million in annual revenue, translating to about 1.6% growth in FY27. “HCLTech is pleased to announce the signing of a significant strategic partnership … Read more
Godrej Pet Care (GPC) is set to foray into all the southern States in the coming weeks and in a phased manner to other regions on the back of its manufacturing plant in Nashik going on stream recently. The Godrej Consumer Products subsidiary is also betting big on the demographics of the country to aid … Read more
The board of Zee Entertainment has approved the issuance of up to 24.95 crore fully convertible warrants to the promoter entity, Sunbright Mauritius Investments at an issue price of Rs 126 apiece, taking the total fund raise to ₹3,143.52 crore. In line with the regulations, 25% (Rs 31.5/ share, Rs 786 cr) will be payable … Read more
Meta-owned WhatsApp has put out a detailed FAQ on its upcoming username feature, addressing concerns around impersonation, scams and unwanted contact as users begin reserving usernames. The FAQ comes days after the Centre issued a notice to Meta, flagging fraud and impersonation risks and asking the company to hold off on the rollout until consultations … Read more
Kotak Mahindra Bank has signed a definitive agreement to acquire Deutsche Bank’s retail banking, private banking and wealth management business in India. The acquisition will add about Rs 29,000 crore in loans, Rs 16,000 crore in deposits and Rs 10,000 cr Investment AUM to Kotak Bank’s balance sheet. The deal will add 150,000 customers and … Read more