Japan’s Nippon Paper Industries Co. Ltd is entering the Indian market by acquiring the largest local paper cup manufacturing company owned by the BK Modi Group for an undisclosed amount.
The government will sell a 10% stake in state-run manganese ore mining company MOIL Ltd to raise as much as Rs 475 crore ($70 million) as part of its disinvestment plan for the current financial year.
JSW Cement Ltd, part of the billionaire Sajjan Jindal-led JSW Group, has made an open offer to acquire a 32% stake in Shiva Cement Ltd from public shareholders as part of a plan to buy a controlling stake in the Odisha-based company.
Speciality chemicals firm Fine Organic Industries Pvt. Ltd has appointed financial advisors to finalise plans for an initial public offering this year, two people familiar with the matter said.
Balram Chainrai, a Hong Kong-based entrepreneur of Nepali origin, will increase his stake in Asian Oilfield Services Ltd as part of the loss-making Indian company’s fundraising plan to run its operations and cut debt.
Oil and Natural Gas Corp (ONGC), India’s biggest explorer, has agreed to acquire Gujarat State Petroleum Corporation’s (GSPC) 80% stake in a gas field off India’s east coast for $995.26 million (Rs 6,750 crore).
Tata Steel Ltd said on Friday it has signed a definitive pact to acquire Brahmani River Pellets Ltd, a supplier of iron ore pellets, for Rs 900 crore ($132 mn) including debt.
Tata Steel Ltd said on Thursday its shareholders have voted to remove Wadia Group chairman Nusli Wadia as an independent director on the steelmaker’s board.
Between January 2012 and August 2013, India increased the import duty on gold five times—from a flat Rs 300 per 10 gram to 10%—to discourage purchases from overseas that had widened the current account deficit to a record.
Indicating that differences between state-run Steel Authority of India Ltd (SAIL) and world’s largest steel company ArcelorMittal SA for setting up an automotive steel unit have been resolved, India’s steel minister Chaudhary Birender Singh on Thursday said the joint venture between the two compa
