Birla Corporation Plans Cement Expansion and Strategic Diversification
Birla Corporation Limited, the flagship firm of the M P Birla Group, plans to consolidate its cement operations while pursuing meaningful diversification. Speaking at the company’s AGM, Chairman Harsh V Lodha highlighted that Birla Corporation is a key player in central India’s cement sector, with a current production capacity of 20 million tonnes.The company aims to raise capacity to 27.6 million tonnes by 2028–29 through new grinding units and clinkerisation, with an estimated capital expenditure of Rs 43.35 billion. Lodha added that coal block allocations are progressing through vario..
Ultratech Cement Expands Cuttack Plant with Rs 3.72 Billion Investment
Odisha Chief Minister Mohan Charan Majhi virtually inaugurated Ultratech Cement’s Rs 3.72 billion expansion project on Monday from Bhubaneswar. The ceremony, held at the state level in Bhubaneswar, saw the participation of Minister of Industries Sampad Chandra Swain, Chief Secretary Manoj Ahuja, Development Commissioner Anu Garg, and Additional Chief Secretary Industries Hemant Sharma.Aditya Birla Group head for Odisha, Ardhendu Mohapatra, and Ultratech Cement Cuttack Plant Head Abhinash Rath were also present. At the project site in Khamar Nuagaon and Kolathpangi villages, Athagarh te..
Muthoot Finance Raises $600 Million via Global Bond Issue
Muthoot Finance has raised $600 million through an External Commercial Borrowing (ECB) issuance in the international bond markets, marking the fifth and final drawdown under its Global Medium-Term Note (GMTN) programme since May 2024 and completing the company’s $2 billion target.The bonds, rated BB+ by S&P and Ba1 by Moody’s, were priced at 6.37 per cent, with a 4.5-year maturity and an average life of four years. This represents Muthoot Finance’s first bond issuance since receiving credit rating upgrades from S&P in March 2025 and Moody’s in April 2025.Proceeds from the issua..
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