Latest news with #DevChatterjee
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Business Standard
23-05-2025
- Business
- Business Standard
Dalmia Bharat under I-T lens post HC nod on reopening of assessment
Madras HC rules in favour of tax department on reopening Dalmia Cement's case involving KKR's ₹500 crore investment, triggering fresh scrutiny over round-tripping Dev Chatterjee Shine Jacob Chennai/Mumbai Listen to This Article The Dalmia Bharat group is facing an income tax (I-T) scrutiny following a recent ruling by the Madras High Court, which upheld the reopening of I-T assessment proceedings against Dalmia Cement (Bharat) Ltd (DCBL) in a transaction involving US-based private equity giant KKR & Co. The tax authorities have alleged that an investment of ₹500 crore made by KKR Mauritius Cement Investment Ltd, a KKR & Co investment vehicle, in DCBL in 2010-11 for a 14.99 per cent stake, prima facie suggests round-tripping of unaccounted money by the company. An email sent to the Dalmia Bharat group on Tuesday did
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Business Standard
22-05-2025
- Business
- Business Standard
Brookfield plans $100 billion India bet as global AUM eyes $2 trillion mark
New York-based Brookfield Asset Management aims to quadruple India exposure to $100 billion as part of its plan to double global AUM to $2 trillion in five years Dev Chatterjee Mumbai Listen to This Article Brookfield Asset Management plans to ramp up its investments in India to $100 billion over the next five years, up from $30 billion currently, as part of a broader strategy to double its global assets under management (AUM), President Connor Teskey said here on Thursday. The New York-based alternative asset giant, which oversees more than $1 trillion across renewables, infrastructure, private equity, real estate and credit, expects its total AUM to hit $2 trillion within the same timeframe. 'We expect our global business to more than double over the next five years,' said Teskey, 38, who is widely expected to
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Business Standard
20-05-2025
- Business
- Business Standard
We plan to invest up to ₹8,000 crore in FY26 in India: Satish Pai
Hindalco MD Satish Pai discusses India and global capex, demand drivers, US tariffs and the Novelis IPO following strong Q4FY25 results and rising market demand Dev Chatterjee Mumbai Listen to This Article Hindalco Industries Ltd, the metals flagship of the Aditya Birla Group, posted a 66.4 per cent year-on-year jump in consolidated net profit to Rs 5,283 crore for the quarter ended March 2025, buoyed by easing input costs and strong performance in its India operations. In an interview with Roshni Shekhar and Dev Chatterjee, Managing Director of Hindalco Industries, Satish Pai, discusses the company's capex plans and the status of the Novelis IPO. Hindalco ended the March quarter with better-than-expected results. What drove the company's profitability?
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Business Standard
15-05-2025
- Business
- Business Standard
JSW nears deal to buy 75% stake in Dulux paints maker AkzoNobel India
Sajjan Jindal is said to have personally led negotiations for the deal, valued at approximately ₹12,000 crore Dev Chatterjee Mumbai Listen to This Article Sajjan Jindal-promoted JSW Group looks set to acquire a 75 per cent stake in Dulux paints maker AkzoNobel India from its Dutch parent in a deal valued at approximately ₹12,000 crore, according to a person familiar with the matter. It marks JSW's latest strategic push into the consumer-facing paints segment, where it is aiming to build scale in a market witnessing heightened competition. The transaction, set at premium to AkzoNobel India's Thursday closing total market capitalization of ₹15,857 crore, would give JSW control of the firm. To fund the acquisition, the Jindal family is planning to offload a 2 per
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Business Standard
15-05-2025
- Business
- Business Standard
Singtel to sell 47.6 million Bharti Airtel shares worth $1 bn on Friday
The Singapore-based telco currently holds a 29.5 per cent cumulative stake in Bharti Airtel through direct and indirect shareholding in promoter entities Subhayan Chakraborty Dev Chatterjee New Delhi Listen to This Article Singapore-based telco Singtel is expected to sell Bharti Airtel shares worth $1 billion (₹8,568 crore) on Friday through a scheduled block deal, sources said on Thursday. Singtel is looking to sell 47.6 million shares at a floor price of ₹1,800 per share, they added. The floor price represents a 3.3 per cent discount to the current market price of Bharti Airtel's stock. JP Morgan is likely to be the broker for the deal. Airtel shares rose 1.58 per cent to ₹1,863.1 in intraday trading on Thursday. Currently, Singtel holds a direct 9.5 per cent stake in Bharti Airtel through its
