Suven Pharmaceuticals: Global private equity firm Advent International has merged two of its pharmaceutical portfolio firms, Cohance Lifesciences and Suven Pharmaceuticals, according to a joint announcement. The merged entity will have three distinct business units – Pharma CDMO, Spec Chem CDMO, and API+ (inclusive of formulations), the release said.
Coal India, NLC India, Vedanta: Mining majors Vedanta, Coal India and NLC India, apart from Ola Electric, Jindal Power and Dalmia Group, are among the bidders for 20 blocks in the first tranche of auction for critical mineral blocks in the country. The Union mines ministry on Thursday said it has received more than 50 bids for the 20 critical and strategic mineral blocks in the first tranche, which was launched on 29 November.
Indian Hotels Corporation: In line with its aggressive growth strategy, Puneet Chhatwal, CEO and MD of Indian Hotels Corporation Ltd (IHCL), said the company’s plan to recruit approximately 2,000-2,500 employees in FY25. This substantial hiring initiative is a response to IHCL’s strong pipeline of 85 hotels. Chhatwal said, “Our workforce already exceeds 33,000. Considering our hotel business alone, if each hotel has an average of 100 rooms, we can add up to 2,000-2,500 employees just there.”
Titan: CK Venkataraman, Managing Director of Titan, has expressed a strong demand outlook for the premium business sector, predicting that the “growth rhythm” will continue for the next three to four years for the company. Venkataraman, at an event, said, “In the upcoming years, a significant shift in per-capita income is anticipated.
Vedanta: In a major blow to mining conglomerate Vedanta, the Supreme Court rejected the firm’s appeal to restart its Sterlite Copper smelting plant in Thoothukudi, Tamil Nadu. The apex court affirmed the Tamil Nadu Pollution Control Board (TNPCB) and the 2020 verdict of the Madras High Court to cease operations at the plant due to environmental regulation breaches. The facility was closed after violent demonstrations in 2018 resulted in 13 fatalities.
Radico Khaitan: The makers of Rampur single malt whiskey is witnessing significant growth, driven by a strategic shift towards premium and luxury segments. The focus on high-margin products has resulted in a nearly six-fold increase in shareholder value, from ₹4,500 crore to ₹24,000 crore, managing director, Abhishek Khaitan told Mint in an exclusive interaction
Suven Pharmaceuticals: Global private equity firm Advent International has merged two of its pharmaceutical portfolio firms, Cohance Lifesciences and Suven Pharmaceuticals, according to a joint announcement. The merged entity will have three distinct business units – Pharma CDMO, Spec Chem CDMO, and API+ (inclusive of formulations), the release said.
DLF: The property developer has outlined plans to launch 10 million sq. ft in FY25, with an expected revenue of ₹24,200 crore. This is part of its strategy to construct properties in Chennai, Goa, and Mumbai, in addition to their main markets in Gurugram and Panchkula. The company recently informed investors that approximately 5.8 million sq. ft of this development will cater to the super luxury segment.
Tech Mahindra: Following in the footsteps of its peers, Tech Mahindra has urged its employees to work from the office for at least three days a week starting 1 April. In an internal communication, reviewed by Mint, India’s fifth-largest IT services company said that employees were yearning for “spontaneous interactions, collaborative environments”, and a deeper “desire for human connection” that was echoing across industries.
Pidilite Industries: The company announced on Thursday that Sudhanshu Vats has been appointed as the Managing Director designate, with Bharat Puri, the current Managing Director set to relinquish his position in April next year upon the conclusion of his term.
JSW Steel: The steelmaker on Thursday announced incorporating a wholly-owned arm JSW Green Steel Ltd for the manufacture of hot-rolled and cold-rolled steel products. The arm was incorporated on February 27 in Mumbai and is yet to commence its business operations, JSW Steel informed the exchanges.
