Finance

Kesoram invests Rs 800 cr for radial tyres

The BK Birla Group’s flagship company Kesoram Industries is restructuring its tyre business by selling one unit and investing Rs 300 crore to foray into radial tyres for cars. This investment over the next six months is in addition to the Rs 500 crore already spent for the move into car radials. “We do not need to invest more for ... Read More »

Dow, DuPont merger to create three entities in India

The merger of Dow Chemical Company and DuPont, with combined market value of $130 billion, will result in creation of three separate entities in India with agriculture products, material science and specialty products as main businesses. At present, Dow Chemicals and DuPont, with combined revenues of $1.78 billion in India, compete with each other across these verticals. Both companies do ... Read More »

Old sites can’t house Ultra Mega Power Plants

  Plans to build a clutch of ultra mega power plants (UMPPs) at the sites of vintage coal-based stations could come a cropper with surplus land having been eroded by rapid urbanisation. Moreover, the Central Electricity Authority (CEA), which was mandated to examine the feasibility of the proposal, has voted against it. However, it’s possible super-critical units, rather than UMPPs, ... Read More »

Federal Bank sells stressed loans of GOL Offshore

sector lender Federal Bank, which has been battling high non-performing assets (NPAs), has sold theloans of GOL Offshore (formerly Great Offshore) to asset reconstruction companies (ARCs). “The account was standard in our book, but we could foresee trouble brewing. We sold it to ARCs for Rs 140 crore in the October-December quarter. We got the right price for it,” said ... Read More »