This uptick in activity, both via outright acquisitions and joint development agreements, is being fuelled by two parallel trends: large developers diversifying into emerging markets, and regional players expanding operations. Tier 2 and 3 cities such as Sanand, Indore, Ahmedabad, Amritsar, Coimbatore, and Mysuru, among others, have seen a notable rise in land deals this…
“Over the past 18–24 months, we have taken several strategic measures to strengthen our financials through both organic and inorganic routes,” said Thimmaiah. Pharma play begins MTL’s push into pharmaceutical packaging follows PAG’s acquisition of the company last year from Advent International, which exited at a $1 billion valuation. Advent had initially planned to exit…
At the older Indian Institutes of Technology (IITs) of Kharagpur, Bombay, Madras, Kanpur, and Delhi, the companies that have registered early include Bain & Company, Boston Consulting Group, Deutsche Bank, D.E. Shaw, Nomura, Glean Technologies, Wells Fargo, Morgan Stanley, Goldman Sachs, and Google India, placement coordinators toldMint. They are offering salaries of ₹1.5-4.5 lakh per…
Bank holiday today, July 16 (Wednesday): Banks in Dehradun will be closed for Harela, a festival celebrated in the Kumaon region of Uttarakhand and some parts of Himachal Pradesh. Thus, all public and private banks, including the State Bank of India (SBI), will be closed in these states today. Besides today, there are a number…
A new report from Emkay suggests quick commerce might finally be working in tier-II cities. If true, it could reshape how Blinkit, Zepto and Instamart scale. Mint breaks down what’s driving the change and what this means for the next phase of growth in quick commerce. Why was q-commerce limited to metros? Quick commerce, or…
The Reserve Bank of India (RBI) is reviewing its norms on bank ownership, which may include allowing foreign banks a greater stake in local lenders, Governor Sanjay Malhotra said on Tuesday. The central bank will examine if foreign banks can be allowed to own 26 per cent in local banks “as a general matter of…
Sona Comstar, the country’s eighth largest parts maker, has developed new motors using light rare earth elements like cerium, samarium and neodymium, according to a top company executive. Ather Energy Ltd’s co-founder and chief executive Tarun Mehta, too, told Mint that the two-wheeler industry can move towards light rare earth magnets. Meanwhile, Ola Electric’s founder…
Last week, three Indian fertilizer firms signed a long-term supply contract with a Saudi Arabian firm for diammonium phosphate (DAP)—a critical crop nutrient. Mint looks at the significance of this deal and what India is doing to ensure enough supplies of fertilizers. Is India self-sufficient on the fertilizer front? No. According to official data, India,…
According to three of the people with knowledge of the matter who did not want to be named, the 100 employees of the company have received incomplete salaries in the past four months. In April, employees across levels were impacted. While some junior staff were paid in the following months, several senior employees have been…
Big multiplexes such asPVR Inox and Cinepolis as well as smaller companies such as Miraj Entertainment Ltd, Mukta A2 Cinemas, and MovieMax Cinemas have set their eyes on tier 2 and 3 markets such as Patna, Shillong, Jaipur, Kota, and Leh-Ladakh to build low-cost cinemas with local developers. The second part of the strategy involves…