India’s top cement majors, including UltraTech Cement of the Aditya Birla Group and Shree Cement, and the stressed asset investment fund of Piramal Enterprises and Bain Capital Credit have made aggressive bids for Binani Cement, a 98.4 per cent subsidiary of BSE-listed Binani Industries. Lenders are expecting bids to come in higher than the cement company’s debt of Rs 3,682 crore, as against significant haircuts taken by banks in other Insolvency and Bankruptcy Code (IBC) cases. Read More
Use public transport, save fuel costs: Modi after inaugurating Magenta Line
Prime Minister Narendra Modi on Monday made a strong pitch for the use of public transport to save fuel and costs associated with the import of petroleum. He also said travelling on a Metro train should be a “prestige issue”.
Modi was addressing a public meeting in this suburban town in Uttar Pradesh, bordering New Delhi, after launching a 12-km stretch of Delhi Metro’s newly built Magenta Line. Read more
Truckmakers shower bounty on transporters
India’s top cement majors, including UltraTech Cement of the Aditya Birla Group and Shree Cement, and the stressed asset investment fund of Piramal Enterprises and Bain Capital Credit have made aggressive bids for Binani Cement, a 98.4 per cent subsidiary of BSE-listed Binani Industries. Lenders are expecting bids to come in higher than the cement company’s debt of Rs 3,682 crore, as against significant haircuts taken by banks in other Insolvency and Bankruptcy Code (IBC) cases. Read more
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