Top headlines: Sovereign wealth funds bullish on RRVL,Tata steel and more

Posted on by


Sovereign wealth funds bullish on RRVL as valuation doubles in three years

Reliance Retail Ventures Ltd (RRVL), which is looking to raise $2.5-3 billion from global investors ahead of a potential listing on the stock exchanges, has become a hot favourite of sovereign wealth funds (SWFs) with its valuation doubling in the last three years. Read More


Tata Steel signs 500 million pound-deal with UK govt for Port Talbot plant

The United Kingdom on Friday announced a joint investment package with Tata Steel worth £1.25 billion (about $1.55 billion), including a government grant of £500 million ($621 million,) to secure the future of Port Talbot operations in Wales — the country’s largest steelworks — giving a fresh lease of life to the structurally weak business. Read More


LVMH, Gucci to expand in India with new outlets in Reliance’s luxury mall

Gucci, Cartier and Louis Vuitton are among the global brands to sign lea­ses for stores in Mukesh Amb­ani’s new Mumbai mall, The Jio World Plaza.The move comes as luxury firms and Reliance Industries seek to profit from strong economic growth and a rapid rise in the number of millionaires. Read More


Area under millets except bajra lower than last year this season

The sowing of kharif crops in the country is almost over, and farmers will be watching weather patterns over the next few weeks. Despite the all-round push to promote millets (now called as “Shree Ann”), sowing in this respect hasn’t picked up as strongly except for bajra to some extent. Read More


MoD approves capital acquisition proposals worth about Rs 45,000 crore

Defence Minister Rajnath Singh, heading the Defence Acquisition Council (DAC) on Friday, accorded Acceptance of Necessity (AoN) for nine capital acquisition proposals worth about Rs 45,000 crore. The DAC decided that all these procurements would be made from Indian vendors under the Buy (Indian – Indigenously Designed Developed and Manufactured (IDDM)/Buy (Indian) category. Read More

First Published: Sep 16 2023 | 9:16 AM IST