Rajesh Kurup

Mumbai

Journalist at Financial Express

Featured in: Favicon

financialexpress.com

linkedin.com Favicon

msn.com

indianexpress.com Favicon

thehindubusinessline.com Favicon

campaignasia.com Favicon

vnexplorer.net Favicon

thebharatexpressnews.com Favicon

uktimenews.com Favicon

userwalls.news + 3 more

Articles

Palguntech offers Rs 560 crore for entire stake, assets of Future Retail

Jun 30, 2024 | financialexpress.com | Rajesh Kurup

US-based technology consulting company Palguntech, a bidder for Future Retail (FRL), has offered Rs 560 crore to acquire the entire stake and assets of the beleaguered firm.Further, the firm is also ready to take over all the cases pending against FRL promoters from the resolution professional. This is, however, subject to discussions with the Committee of Creditors (CoC) and the share the lenders agree to give to Palguntech, the US company said in a letter to the administrator.
Tata Steel UK goes for legal action against union strike

Jun 28, 2024 | financialexpress.com | Rajesh Kurup

Tata Steel UK has initiated legal action against an employees’ union, terming a decision to strike as “unilateral” and warned potential early shutdown of operations at the Port Talbot facility.The union, Unite, called for a strike on July 8 in response to Tata Steel’s plans to shut blast furnaces three months earlier than planned. Unite described this move as the latest in a “long line of threats” and asserted that it would not deter them.
Cement companies make a beeline for ‘strategic’ south

Jun 27, 2024 | financialexpress.com | Rajesh Kurup

For Indian cement manufacturers, the compass is pointing southward, with UltraTech Cement now charting the course with the acquisition of a 23% stake in Chennai-based India Cements. The Aditya Birla Group company joins the bandwagon of companies such as Adani Cements — the holding company of Ambuja Cement and ACC, and Shree Cement, which had earlier expanded their presence in the south.
AM Naik steps down as chairman of LTIMindtree, LTTS

Jun 26, 2024 | financialexpress.com | Rajesh Kurup

Nearly nine months after stepping down as chairman of Larsen & Toubro (L&T), AM Naik has relinquished his board seat from the conglomerate’s two listed subsidiaries, also handing over the reins to successor S N Subrahmanyan. On Wednesday, Naik stepped down as the non-executive chairman and director of LTIMindtree (LTIM) and L&T Technology Services (LTTS), marking his exit from the board of all L&T group companies.
JSW Steel USA to invest $110 mn to upgrade steel plate mill

Jun 25, 2024 | financialexpress.com | Rajesh Kurup

JSW Steel USA, a subsidiary of JSW Steel, plans to invest $110 million to modernise its steel plate mill in Baytown, Texas. The investments, announced at the 10th SelectUSA Investment Summit hosted by the US department of commerce in National Harbor, Maryland, will enable the firm to produce high-quality monopile steel plates. “The investments will enable us to produce high-quality steel products while further defining our niche markets through a ‘Made in America’ specialty steel portfolio.
Cement firms have a concrete Rs 1.5-trillion investment plan

Jun 24, 2024 | financialexpress.com | Rajesh Kurup

Cement producers are looking to invest over Rs 1.5 trillion in the next round of capacity additions as they bet on robust demand, driven primarily by the rapid infrastructure build-up and heightened construction activity. The estimated investment is about 1.4 times bigger than the Rs 1.13 trillion committed in new capacities, brownfield expansions, debottlenecking and maintenance of existing plants over the past five fiscals through 2024.
RCap lenders want Hindujas to deposit equity component in escrow account

Jun 24, 2024 | financialexpress.com | Rajesh Kurup

The Committee of Creditors (CoC) of debt-laden Reliance Capital (RCap) wants the tribunal to direct Hinduja Group to deposit the equity component of the bidding amount in an escrow account with them. According to submissions by Reliance Capital’s (RCap) Committee of Creditors (CoC) before the National Company Law Tribunal (NCLT), an extension to the deadline for completing the resolution process should not be granted until the equity component is deposited into an escrow account.
Hindenburg designed to defame us: Adani

Jun 24, 2024 | financialexpress.com | Rajesh Kurup

Short seller Hindenburg Research’s report was a calculated strike designed to defame Adani Group with the intention of doing the maximum damage, group chairman Gautam Adani said on Monday. “Typical short sellers target gains from financial markets. This was different. It was a two-sided attack — a vague criticism of our financial standing and, at the same time, an information distortion campaign, dragging us into a political battlefield,” Adani said in his address at Adani Enterprises’ AGM.
RCap deal: 360 One to raise Rs 5K cr, Barclays Rs 2,300 cr for Hindujas

Jun 23, 2024 | financialexpress.com | Rajesh Kurup

Hinduja Group, which plans raise about Rs 7,300 crore through two-rupee bond offerings to partially fund its acquisition of Reliance Capital, has mandated 360 One to arrange Rs 5,000 crore through non-convertible debentures (NCDs). The remaining Rs 2,300 crore would be secured by Barclays. The Hindujas have proposed zero coupon, interest cumulative debentures with a maturity period of four years. The interest rate will be 16% per annum.
India imported 8.3 MT steel in FY24, becomes net importer of the metal

Jun 20, 2024 | financialexpress.com | Rajesh Kurup

From being an exporter of steel, India became a net importer of the metal in FY24, with an overall trade deficit of 1.1 million tonnes. Exports from India were impacted by weak global markets and competitive pricing by China, while South Korea and Japan maintained their export volumes to the country, according to a report by Crisil. India imported 8.3 million tonne (MT) of finished steel in FY24, a 38% year-on-year increase, primarily from China, South Korea, Japan, and Vietnam.