Adani hikes stake in two group companies

Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit......

Two-month IPO drought set to end with Shyam Metalics Rs 909-cr offer

The IPO is priced between Rs 303 to 306 per share and will remain open between June 14 and June 16. Illustration: Uttam Ghosh/Rediff.com Shyam Metalics and Energy (SMEL) will end the over......

RIL to spin off oil-to-chemical biz into separate arm with $25bn loan

Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent,......

IL&FS to file bankruptcy for its offshore firms in UAE

A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms. Debt-ridden......