HINDUJA GROUP OF INDUSTRIES
We didn't anticipate winning medals in such a short time, says IIS Founder Parth Jindal
Learn about the journey of Parth Jindal, the founder of JSW Sports, and his commitment to developing Olympic champions in India. Discover the impact of the Inspire Institute of Sport in nurturing talent and the strategic partnerships with corporates. Gain insights into the challenges and successes of fostering a culture of sports excellence in the country through innovative initiatives. Witness the evolution of India's sports industry under Jindal's visionary leadership.
Hindujas seek more time from NCLT to pay Reliance Capital lenders
Hinduja Group, which acquired Reliance Capital, has submitted an application to the National Company Law Tribunal (NCLT) for more time to make final payments to lenders. The group cited delays in obtaining approval from the Department for Promotion of Industry and Internal Trade for foreign investment as the reason for the request. IIHL, a firm of Hinduja Group, won the bid for Reliance Capital in October 2023 and has received almost all necessary approvals.
Ashok Leyland to unveil 5-6 new products under LCV segment: MD
Earlier today, Ashok Leyland announced a 16.73 percent rise in consolidated net profit, reaching Rs 933.69 crore in the January-March 2024 quarter, compared to Rs 799.87 crore recorded in the corresponding period of the previous fiscal year.
UK's July general election: Impact on India FTA, Indo-Pacific tilt
While political analysts and strategic experts have expressed confidence that very little should change on the bilateral relationship front whatever the outcome in either election, the very small window that was open for a deal being clinched by the Sunak-led Tory government has now been swept away in the election wave of both countries.
Indian origin hotel investors increasing in overseas markets
Accor opened Raffles London at The OWO, London’s most expensive hotel owned by the Hinduja Group, expressing gratitude to the Hindujas for the partnership.
Hindujas sign new India-UK healthcare pact with King's College London
The Hinduja Group and King's College London partnership aims to enhance healthcare outcomes in India and the UK through training, research, and scholarships, creating the Hinduja-King's Health Partners Academy for future healthcare professionals.
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Invesco in talks with Hindujas for India MF arm sale
Invesco could sell as much as 60% of Invesco Mutual Fund with assets under management (AUM) of more than ₹74,000 crore as of March 31. The mutual fund industry's total AUM stood at ₹54.50 lakh crore as of February end.
Accor bullish on India, to open 30 more hotels in five years
Europe's largest hotel chain, Accor, plans to launch 30 hotels in India totalling about 5500 keys over the next three to five years. In an interview with ET, Sébastien Bazin, group chairman and CEO of the French multinational hospitality chain said Accor will also consider launching more luxury hotels over time in India.
Ashok Leyland reaches 3 million production milestone at Pantnagar plant
Ashok Leyland, a Hinduja Group flagship company, has rolled out three million units from its Uttarakhand factory, marking a significant milestone in its vision to become one of the top 10 Commercial Vehicle (CV) manufacturers globally. The company's commitment to innovation, technological advancement, and strong customer relationships is evident.
Ashok Leyland would confidently move towards 35% market share in MHCV segments: Hinduja
The company expects to maintain its market share in the medium and heavy commercial vehicle segments and aims to reach 35% market share in the future. Ashok Leyland has seen growth in the bus segment, with a 65% increase, twice the industry growth. The company has also improved its market share from 28.2% to 33%. Additionally, Ashok Leyland is nearing market trials for fully electric 55-tonne AVTAR Tractor Trailers and plans to expand its dealer network to reach 1,000 dealers.
BharatPe interim CEO details bounce back plans; Hinduja Tech plans minority stake sale
In his first media interview since the Ashneer Grover saga unfolded, BharatPe interim chief executive Nalin Negi details the company’s profitability goals, IPO plans, and more. Get all the details in today’s ETtech Top 5.
Hinduja Tech in Talks with PE Funds for Minority Stake Sale
Hinduja Tech (HTL), the digital technology arm of Hinduja Group's flagship company Ashok Leyland, is in early talks with private equity funds to sell a minority stake in the company. HTL plans to raise around ₹830 crore ($100 million) at a valuation of $400 million (₹3,300 crore) to support its expansion in the e-mobility industry. The company has engaged investment bank Rothschild to find an investor.
Keen to get external investment for EV arm Switch Mobility, waiting for right partner: Ashok Leyland MD
Ashok Leyland's electric vehicle arm, Switch Mobility, seeks external investments cautiously, prioritizing the right strategic partner at the right valuation. The company remains open to individual investment until an ideal ally is secured, with a focus on developing robust products and technology maturity. Switch India anticipates being cash neutral or positive, while Switch UK may require additional investments in FY25 due to the European and UK markets' subdued performance.
India has lot of potentiality for growth; government needs to further improve ease of doing business: GP Hinduja
Gopichand P Hinduja, Chairman of the Hinduja Group, believes that India has the potential for significant growth and could become the world's third-largest economy by 2030. However, he suggests that the government should focus on improving the ease of doing business by expediting policy implementation and forming a committee to address obstacles.
IRDAI objects to Hinduja Group pledging shares of insurance company to acquire Reliance Capital
Hinduja Group is in talks with offshore lenders to raise $800mn (Rs 6,660 crore equivalent) to acquire the finance company under the Insolvency and Bankruptcy Code, the people said. Lenders have unanimously voted in favour of a Rs 9,660-crore plan offered by IIHL in June.
Ashok Leyland to invest Rs 1,000 cr to set up its first plant in Uttar Pradesh
Ashok Leyland, a flagship company of the Hinduja group, will invest Rs 1,000 crore to establish a bus manufacturing facility in Uttar Pradesh. The company has signed a Memorandum of Understanding with the state government to build the plant near Lucknow, which will focus on clean mobility. Initially, the facility will have the capacity to produce 2,500 buses per year, with plans to expand to 5,000 vehicles annually over the next decade. This investment is in line with Ashok Leyland's mission to achieve net zero by 2048.
Winston Churchill's World War II office will soon become a luxury hotel, thanks to Hinduja Group
The iconic building, where Winston Churchill directed the nation's efforts during World War II, will be restored to its former glory and will feature luxury residences, fine dining establishments, and spas. The renovation process took six years and involved the expertise of hundreds of artisans. The transformed Old War Office will house 120 guest rooms, 85 residences, and a new culinary district with nine restaurants and three bars.
Switch Mobility rolls out electric-LCVs with car like features
The vehicles have a 330 V high voltage EV architecture and are equipped with spacious cargo bodies. The company has secured 13,000 orders for the vehicles, including from e-commerce players such as Amazon and Flipkart. The vehicles will be manufactured at Ashok Leyland's production unit in Hosur and will be exported to neighbouring countries initially.
Game makers call for clear distinction from real-money games
These developers have flagged that recent campaigns by the real money gaming industry “project a homogenous image” of the entire industry.
Ashok Leyland embarks on cross-country expedition marking 75th anniversary
As many as 10 vehicles would be traversing across cities including Bengaluru, Mumbai, Leh, Kolkata, Dibrugarh, on five different routes commemorating the occasion.
Reliance Capital lenders approve Rs 200 crore capital infusion in Reliance General
The committee of creditors of Reliance Capital approved last week a proposal to infuse capital – a move that would help the private insurer to retain its market share in the non-life industry. Reliance General Insurance is the most valuable asset through which lenders hope to recover a substantial part of their dues, and any dip in its valuation would correspondingly lower the company's valuation, said one of the lenders.
'Loss to Indian industrial diaspora.' Biocon boss, Akhilesh Yadav, Maha minister mourn SP Hinduja, billionaire patriarch of Britain's richest family
India's business and political class mourned the loss of Srichand Parmanand Hinduja.
Daughters pay tribute to SP Hinduja after death in London
UK-based Srichand P (SP) Hinduja, the eldest of the four Hinduja brothers - Gopichand (GP), Prakash and Ashok - had been unwell for some time as it had emerged in recent court hearings in London. "SP journeyed through life with deep humility and dignity, always seeking to bring people together in a common interest," Shanu and Vinoo said in a joint statement.
Baring Asia plans to sell minority stake in Sagility
In 2021, BPEA EQT had acquired the healthcare vertical of Hinduja Global Solutions for an enterprise value of ₹7,500 crore ($1 billion), through Baring Asia Private Equity Fund VIII. Hinduja Global is the business process management (BPM) entity of the Hinduja Group. An email sent to a spokesperson of BPEA EQT remained unanswered.
Sumant Kathpalia on IndusInd Bank margins, Hindujas raising stake & more
IndusInd Bank's MD and CEO, Sumant Kathpalia, has stated that despite deposit costs being higher than the market, the bank plans to continue prioritizing granularisation of liabilities. Currently at 43% as per Basel-3, the bank aims to increase the percentage of granular liabilities to 48-50% by expanding branches and focusing on providing optimal rates for clients. Kathpalia further stated that the bank is confident in maintaining a stable margin scenario.
Ashok Leyland launches 'Re-AL' electronic marketplace for used commercial vehicles
The city-based heavy commercial vehicle maker, in a statement, said it hopes to increase transparency in the otherwise disorganised used vehicle ecosystem. The digital service would offer customers with a range of features allowing them to select preferred vehicles of their choice along with validated documents.
Torrent Investments won’t participate in second auction for Reliance Capital
The lenders, however, are unlikely to hold a Swiss auction since this would not lead to value maximisation, people in the know said. A closed envelope bid – wherein both parties submit a proposal in a closed envelop – is an alternative option given by the administrator.
RIL, Ashok Leyland unveil India's first hydrogen-powered truck
RIL and Ashok Leyland, the Indian flagship company of the Hinduja Group and India’s leading commercial vehicle manufacturer, were working on developing this technology over the past year.
Auto Expo 2023: Ashok Leyland showcases future of commercial vehicle industry
The Company, which has been a forerunner in introducing cutting-edge technologies, demonstrated its futuristic vehicle range, powered by electric and hydrogen options.
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