MUMBAI: The Gautam Adani family owned Ambuja Cements is buying Penna Cement Industries in a deal valued at Rs 10,442 crore including debt, expanding its presence in the south. The transaction marks Ambuja’s fourth M&A after Adani checked into the sector through the former in Sept 2022. Hyderabad-based Penna, promoted by P Prathap Reddy and…
MUMBAI: Three companies from India’s two largest conglomerates are looking to raise funds amid their growth plans. Adani Energy Solutions (earlier known as Adani Transmission) plans to sell shares worth Rs 12,500 crore to institutional investors, while the board of sister company Adani Enterprises will meet on Tuesday to consider raising fresh capital.Tata Steel, part…
NEW DELHI: Replying to Prime Minister Narendra Modi’s allegations that the Congress has received money from businessmen Adani and Ambani, Congress leader Rahul Gandhi challenged the PM to initiate a CBI or ED investigation into the matter. Gandhi questioned whether PM Modi’s comments about money being sent by businessmen in a tempo were based on…
NEW DELHI: Opening a new front to attack the Congress and Rahul Gandhi, Prime Minister Modi on Wednesday accused the grand old party of hoarding black money from the Adanis and the Ambanis to stop all attacks against the top industrialists of India. Prime Minster Modi, who is on a whirlwind tour of Telangana and…
NEW DELHI: Advocate Prashant Bhushan on Friday expressed support for inheritance tax asking Congress to be on the “front foot on Sam Pitroda’s remarks” on the same, adding that every rich country has this tax.He further said that the BJP government has been opposing this tax “because it is tied to Arabpatis like Adani/Ambani whose…
NEW DELHI: As it struggles to claw back the wealth it lost because of the allegations levelled by global short seller, Hindenberg, the Adani Group found itself caught in the intense political crossfire over the no-trust vote, with BJP and Congress accusing each other of favouring the conglomerate. After Congress leader Rahul Gandhi renewed his…
