Sirca has announced acquisition of the entire business under the brand name “Wembley” from Wembley Paints & Chemicals and Indo Wembley Paints Private Limited. It’s not acquisition of an entity but only the brand, it’s clients and identified employees. No manufacturing facility acquisition is involved. Consideration for acquisition is Rs 8.15 cr. With this acquisition, … Read more
As per newspaper reports, Sona being India’s biggest importer of rare earth magnets, plans to locally manufacture the critical components used in electric vehicles, tapping into the government push to incentivize their production at home as China restricts their exports. (China, which produces around 90 per cent of the world’s rare earth magnets, put restrictions … Read more
In a significant announcement, Anand Group has announced consolidating it’s varied auto ancillary businesses under it’s listed subsidiary Gabriel India (GIL). GIL consequently will transform from a single product Company (suspension parts and shock absorbers) to a multi-product Company (brake fluid, radiator coolants, diesel exhaust fluid (DEF) / Ad-blue for 2W, 3W, 4W and truck … Read more
Alkem was speculated to be the front runner to acquire JB Chem & Pharmaceuticals (JB) from KKR. Torrent had previously dropped out due to the valuation differences. However, finally it’s Torrent who acquires JB. Torrent will acquire 46.39% stake from promoters Tau Investment Holdings Pte Ltd (a unit of KKR) for Rs 11,917 crore; a … Read more
A growing wave of protectionism is challenging decades of liberal trade order, dramatically highlighted by the Trump’s tariffs, but economic nationalism does not spell the death of globalisation rather it heralds its rebirth, presenting an opportunity for India to emerge as a vital player, according to M&M Ltd Chairman Anand Mahindra. In his address to … Read more
With just 10 days to go until US President Donald Trump’s country-specific tariffs are set to resume, the White House appears poised to fall short of the sweeping global trade reforms it promised to achieve during the three months they were on hold. Agreements with as many as a dozen of the US’s largest trading … Read more
China’s overseas shipments of rare earth magnets halved in May from April, tumbling to their lowest levels in more than five years due to export curbs. Beijing said this month that it would speed up its approval process, a concession made after the U.S. and China agreed to dial back trade tensions. In the meantime, … Read more