Business
Sagility BV to cut stake in India arm
File photo: Sagility logo MUMBAI: IIFL Capital on Thursday night launched a block deal for up to 56 crore shares of Sagility Ltd that could be worth nearly Rs 2,400 crore or about $250 million. Netherlands-based Sagility BV, a promoter group entity, is the seller. Source link
US trade deal will protect sensitive sectors: Piyush Goyal
NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday said the govt will ensure that sensitive sectors, including agriculture, are protected as part of the trade deal with the US.“I have the courage of conviction to announce boldly that once details are out on the US trade deal, the people of India will celebrate…
Noel picks top lawyer, friend as Trent successor
File photo: Noel Tata Bahram Vakil MUMBAI: Noel Tata has selected close friend and AZB & Partners co-founder Bahram Vakil to succeed him as chairman of Trent, the Tata Group‘s fashion and retail flagship established by his mother, Simone Tata. Vakil will take over as chairman of Trent on Nov 12, a day after Noel…
Noel seeks greater scrutiny of investments by Tata Sons
MUMBAI: Noel Tata, chairman of Tata Trusts, the controlling shareholder of Tata Sons, has called for greater scrutiny of large investments by the holding company, requiring management to present detailed business cases setting out the rationale, expected financial returns and risks of capital commitments before directors sign off on them, said people familiar with the…
EPFO looks to invest in startups, AIFs
File photo: Employees Provident Fund Organisation- EPFO NEW DELHI: Five years after govt allowed the Employees Provident Fund Organisation (EPFO) to invest in alternate investment funds (AIFs), the retirement savings body is now working to come up with guidelines to enable its investments in these high-growth asset classes and startups.A proposal to allocate up to…
HUL sees strongest sales growth in 14 quarters, net up 4%
File photo: HUL hits 14-quarter sales growth high as price hikes test India’s consumption recovery BENGALURU: Consumer goods major Hindustan Unilever on Wednesday reported a 3.8% increase in consolidated net profit to Rs 2,796 crore in the Sept quarter, while revenue rose 14.4% to Rs 18,386 crore, indicating strong growth despite cost pressure.Underlying sales growth…
Sebi to review compliance norms for FPIs
MUMBAI: Sebi chairman Tuhin Kanta Pandey on Wednesday said the regulator will review compliance requirements for FPIs and issue a consultation paper to seek views on aligning Indian norms with global standards, while retaining safeguards for investor protection and market integrity.Acknowledging that some compliance requirements in India remain more onerous than those in other major…
Adani explores buyout of Dutch energy co VTTI
File photo: Adani said to weigh deal for €3 billion energy storage firm VTTI Billionaire Gautam Adani, India’s richest person, is exploring a potential acquisition of Dutch energy storage group VTTI as supply disruptions make the facilities more valuable for energy trading, people familiar with the matter said.Adani Group, the tycoon’s power-to-ports conglomerate, is among…