Raymond enters aerospace biz with Maini Precision acquisition for ₹682 cr
The acquisition is a "strategic move" that’ll strengthen Raymond’s existing engineering business and will help it foray into aerospace, EV and defence
The acquisition is a "strategic move" that’ll strengthen Raymond’s existing engineering business and will help it foray into aerospace, EV and defence
The consolidated net debt reduced by ₹399 crore to ₹689 crore as of March 31, 2023, as compared to ₹1,088 crore as on March 31, 2022.
The cash deal is expected to be completed by May 10, 2023. The Singhania family-backed Raymond group had been looking to divest its consumer care business for over two years.
Earlier this month, Godrej Consumer announced an investment of ₹100 crore in Early Spring, a new early-stage fund being set up by Spring Marketing Capital.
Raymond has reset close to ₹700 crore of costs in order to bring the business back in line.
Dalal Street headed for a negative start on Wednesday, following weak cues from Asian peers as market participants remained concerned about the Omicron variant of Covid-19.
Why brands are looking to abandon the biggest e-tailers to focus on own direct-to-consumer experiences.
CMDs at India’s top 500 listed companies had time till April 1, 2020, to comply with a SEBI mandate for splitting the role. Now they have got a two-year extension.
Gautam Hari Singhania is hoping they will as he encourages handpicked professionals to reimagine the lifestyle and consumer businesses and even go where the group has never gone before: real estate.
Focus on infra, housing, financial services, labour reforms welcome; but concerns remain on corporate tax, ability to meet disinvestment target.