Latest news with #DevChatterjee
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Business Standard
2 days ago
- Business
- Business Standard
US tariff hike halts Indian textile exports as major retailers pause orders
Retail giants like Walmart, Amazon, and H&M ask Indian suppliers to hold shipments as the US raises textile and apparel import duties to 50 per cent Shine Jacob Sharleen Dsouza Dev Chatterjee Chennai/Mumbai Listen to This Article The rise in the United States tariff to 50 per cent has brought India's textile and apparel exports to a standstill. Almost all the US retail majors, including Walmart, Target, Amazon, TJX Companies, Kohl's, Gap Inc and H&M, have asked their suppliers in India to hold orders until there is clarity on the quantum of tariff. Companies have also fast-tracked existing orders to ship them before 27 August so that additional penalties do not apply to buyers. 'The buyers have asked us not to cost anything at the moment. They have put on hold whatever enquiries they had sent. It
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Business Standard
2 days ago
- Business
- Business Standard
India Inc calls for diplomacy and reform to counter US tariff threat
Industry leaders urge India to pursue diplomatic talks with the US, strengthen manufacturing, and consider China ties to gain leverage against tariff pressures Dev Chatterjee Mumbai Listen to This Article India Inc is calling for measured diplomacy rather than posturing as the country navigates United States President Donald Trump's looming 25 per cent tariff on Indian exports. At the same time, business leaders emphasise the need to strengthen domestic manufacturing and seek new markets even as they pursue talks to head off the tariff. Anand Mahindra, chairman of the Mahindra Group, called on India to convert the ongoing global tariff upheaval into an opportunity akin to the transformative economic reforms of 1991. Drawing parallels with the liberalisation that followed India's forex crisis more than three decades ago, Mahindra asked whether
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Business Standard
30-07-2025
- Business
- Business Standard
Lenders look to sell Jaiprakash Power's convertible shares in open market
ICICI Bank is in talks with power companies to facilitate sale of bankrupt company's unit Ruchika Chitravanshi Dev Chatterjee New Delhi/Mumbai Listen to This Article ICICI Bank and other Indian lenders seek to offload their stakes in the power business of bankrupt Jaiprakash Associates by selling in the open market compulsory convertible preference shares (CCPS) that have a face value of Rs 3,800 crore. ICICI Bank is in talks with power companies to facilitate the sale, according to a banking source familiar with the matter. Jaiprakash Associates Ltd (JAL), which is undergoing bankruptcy proceedings, owns 24 per cent in Jaiprakash Power Ventures. "Lenders are looking to sell the CCPS on behalf of all banks and this process has been underway for a while," said the
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Business Standard
22-07-2025
- Business
- Business Standard
Rosneft's Nayara Energy stake sale hits EU sanctions major roadblock
Rosneft's proposed sale of its stake in Nayara Energy has encountered a significant roadblock due to the European Union's latest sanctions on Russia's oil sector Dev Chatterjee Mumbai Listen to This Article The proposed sale of Russian energy giant Rosneft's 49.13 per cent stake in Nayara Energy — which operates India's largest single-location refinery at Vadinar — has run into a major obstacle following the European Union's latest sanctions targeting Russia's oil sector. Rosneft has been looking to exit the Indian venture, with reports pegging Nayara's total valuation at around $17 billion. Reliance Industries is currently seen as the frontrunner in the race to acquire the stake. However, the EU's additional sanctions package, announced last week in response to Russia's invasion of Ukraine, includes Nayara Energy among the entities targeted due to
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Business Standard
21-07-2025
- Business
- Business Standard
Tata Capital rights issue pricing pegs valuation at Rs 1.38 trillion
Tata Sons' 93% stake in Tata Capital is now valued at Rs 1.28 trillion, following the company's latest rights issue and a 31% increase in Tata Capital's valuation Dev Chatterjee Mumbai Listen to This Article Tata Sons, the holding company of the Tata group, participated in its financial services arm, Tata Capital's rights issue last week at ₹343 per share — a 22 per cent premium to the earlier rights issue price of ₹281 per share in March. This latest investment has raised IPO-bound Tata Capital's valuation by 31 per cent to ₹1.38 trillion, up from ₹1.05 trillion in March, according to company filings with the stock exchanges. Last week, Tata Capital allotted 51 crore equity shares of ₹10 each, aggregating ₹1,752 crore through the rights issue, the company said. With the rights issue, the
