₹3,583 cr one-time gain sends Adani Ent's profit soaring 84%

Gopichand P Hinduja, chairman of the Hinduja Group and a prominent British businessman, has passed away in London at 85. He led the global conglomerate, transforming it into an industrial powerhouse with significant acquisitions like Gulf Oil and Ashok Leyland. Hinduja represented the second generation of the family's storied business legacy.

Adani Ports is aggressively expanding its logistics and warehousing services, forecasting a five-fold revenue increase by fiscal year 2029. This diversification aims to mitigate risks from global economic uncertainty and reduce reliance on traditional cargo handling. The company's logistics segment already shows strong growth, contributing significantly to its overall revenue.

Low-cost steel imports are severely impacting India's domestic producers, forcing hundreds of smaller mills to the brink and jeopardising the government's ambitious sector expansion plans. Local steel prices have fallen to near five-year lows, with around 150 mills shutting down and 50 scaling back production, threatening crucial investments needed for capacity growth.

As India’s car market thrives, sports utility vehicles are at the helm of the excitement, powered by favorable GST adjustments that have prompted a shift toward larger vehicles. Hyundai Motor India is keenly focused on harnessing this momentum, planning substantial investments and introducing cutting-edge models, including a range of electric options and entering new market segments.

TABP Snacks and Beverages secured $3 million in funding led by LC Nueva to expand its distribution and manufacturing. The company targets "bottom-of-the-pyramid consumers" in tier-2 towns and rural markets by offering hygienic, affordable versions of popular Indian street drinks. This investment aims to formalize an unorganized segment of the beverage market.

In a bold move affirming its leadership in the industry, IMFA has finalized the acquisition of Tata Steel's ferro chrome facility in Kalinganagar, Odisha. This strategic investment not only positions IMFA as the preeminent ferro-chrome manufacturer in India but also promises to enhance its production capabilities.

S Sankarasubramanian is the new chairman of the Fertiliser Association of India. He leads Coromandel International Limited. Sankarasubramanian has over 30 years of experience in the fertiliser sector. He aims to boost innovation and sustainability. The FAI works with policymakers for self-reliance in fertilisers. Siba Prasad Mohanty is the new co-chairman.