JSW Paints Seeks Approval to Acquire Akzo Nobel
JSW Paints, led by Sajjan Jindal, has approached the Competition Commission of India (CCI) for approval to acquire a majority stake in Akzo Nobel India, a Rs 12,915-crore deal that would significantly alter the Indian paint industry landscape.In June, JSW Paints announced its plan to acquire a 74.76 per cent stake in Akzo Nobel India for Rs 8,986 crore. This would be followed by an open offer to public shareholders to purchase another 25.24 per cent for up to Rs 3,929.06 crore.As per the notice filed with the CCI, the acquisition includes a share purchase agreement and a mandatory open o..
Rosneft Condemns EU Sanctions on India’s Nayara Refinery
Russia’s top oil producer, Rosneft, has strongly criticised the European Union’s latest round of sanctions targeting India’s Nayara Energy refinery, calling them unjustified, illegal, and a direct threat to India’s energy security. The sanctions, part of the EU’s 18th package aimed at weakening Russia’s oil and energy sectors amid the Ukraine conflict, included Nayara Energy among the affected entities.Rosneft clarified that it holds less than 50% in Nayara and does not control the refinery, which is managed by an independent board. It called the EU’s rationale "far-fetched and f..
SAIL Supplies Over 31,000 Tonne Steel for Zojila Tunnel
Steel Authority of India Limited (SAIL), a Maharatna PSU, has emerged as the single largest steel supplier to the prestigious Zojila Tunnel project in Jammu and Kashmir, the Ministry of Steel confirmed in a recent statement. The under-construction Zojila Tunnel is set to become India's longest road tunnel and Asia's longest bi-directional tunnel upon completion.SAIL has played a pivotal role in this strategic infrastructure initiative, supplying more than 31,000 tonnes of steel, which includes TMT Re-bars, Structurals, and Plates. This continuous supply showcases the company’s steadfast supp..
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