UltraTech’s India Cements Buyout Under CCI Scrutiny

10 Dec 2024 CW Team

The Competition Commission of India (CCI) is reviewing UltraTech Cement’s proposed acquisition of India Cements. UltraTech Cement announced in an exchange filing that it received communication from the CCI under Section 29 (1) of the Competition Act, 2002 regarding the acquisition.

UltraTech is confident about the merits of the deal, noting that the southern grey cement market, where India Cements operates, remains highly competitive and fragmented, with over 35 manufacturers.

In July, UltraTech announced the acquisition of a 32.72% stake in India Cements from promoters and associates, paying Rs 3,954 crore for the 28.42% stake from the promoters and 4.30% from Sri Saradha Logistics. The acquisition is subject to regulatory approvals.

UltraTech has assured that any vertical relationships between the two companies are non-exclusive and at arm’s length, in the ordinary course of business.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..