Logistics

Warburg Pincus-backed logistics firm Stellar Value Chain Solutions has signed a pact with France-based CEVA Logistics for selling controlling stake in the company.
As part of the agreement, CEVA Logistics will acquire the entire stake of private equity firm Warburg Pincus.
The move will help CEVA Logistics diversify its presence in India, boosting its local workforce, assets, customer roster and capabilities, Stellar value chain said in a statement.
The acquisition is expected to be completed in the coming weeks, the company said without disclosing the deal size.
Incorporated in 2016 by logistics veteran Anshuman Singh, Stellar Value Chain Solutions is into contract logistics with omni-channel fulfillment services in segments such as e-commerce, automotive, consumer, retail, healthcare and pharmaceuticals, among others.
Post-acquisition, Stellar Value Chain Solutions will become a part of the third largest company in the world in contract logistics, the company said.
Following th

Logistics, trade, global market

Logistics will be an area full of opportunities for young students in the coming years with a huge scope for investment, entrepreneurship and employment, Union Minister of State for Skill Development Rajeev Chandrasekhar said on Monday.
He was speaking at a conference on "Transforming Logistics for Coastal Economies" ahead of the third G20 Education Working Group meeting scheduled to be held from April 27 to 29 here.
"Logistics will be an area full of opportunities for young students in the coming years, as much as semiconductors, electronics, and information technology, with a huge scope for investment, entrepreneurship and employment.
"This is an interesting time for the world, representing opportunities and challenges and in this context, India has become the fastest growing nation of the world. And India is being looked upon by the world with a lot more respect," Chandrasekhar said.
The minister noted that the world is looking at resilient logistics and trusted supply chains, .

real estate

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

US-based Panattoni has forayed into India and will invest USD 200 million to develop four industrial and logistics parks as it seeks to tap the growing demand for warehousing spaces across major cities.
Panattoni, a global leader in industrial & logistics real estate development, has debuted in the Asian market with its entry in India. Indian venture, Panattoni India Development Pvt Ltd, is headquartered in Bengaluru.
In an interview with PTI, Sandeep Chanda, Managing Director India, Panattoni, sounded bullish on the long-term growth of the industrial and logistics segment of Indian real estate as demand for quality spaces rises from third-party logistic, e-commerce and manufacturing sectors.
The company is holding discussions with land owners to purchase around 250 acres of land in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru and Pune to develop four projects in the first phase of the India venture.
'We will be investing USD 200 million (around Rs 1,597 crore) for the ...

Logistics sector

In efforts to encourage logistics sector in the backdrop of industries, e-commerce and services sector, Telangana Cabinet has approved the Telangana Logistics Policy

Nitin Gadkari

Nitin Gadkari has announced that a multi-model logistics park will be constructed in Silchar and the Balacherra-Harengajao section of the Silchar-Saurashtra Highway will be completed in March 2022

Stocks to watch on Thursday, September 28 2023: Telecom stocks too may see some action after Trai data for July showed considerable new subscriber additions for Jio and Airtel; and loss of market shar

BSE, stock market, sensex

Closing Bell on September 28, 2023: 
Tech M, which sank 4 per cent, was the top laggard on the benchmarks after Morgan Stanley downgraded the stock to 'underweight'

bulls, bears, markets, sensex

Vedanta Ltd.'s parent, Vedanta Resources, will remain the holding company, the people said. Deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made

Vedanta refinery

As markets anticipate inclusion of the debt in other indexes, including the Bloomberg Global Aggregate, the flows could rise to $50 billion by the end of next year

ICICI Bank

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

current account deficit

Here is the best of Business Standard's opinion pieces for today

Trade talks

According to Ravi Nathani, an independent technical analyst, one should adopt a 'Buy on Dips' strategy for Nifty Private Bank index, while a 'Sell on Rise' strategy in case of the PSU Bank index.

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Former bureaucrat Amit Khare was on Monday given extension as advisor to Prime Minister Narendra Modi, a Personnel Ministry order said.
He was appointed to the post for two years in October 2021.
Khare, a 1985-batch (retired) Indian Administrative Service (IAS) officer of the Jharkhand cadre, had superannuated on September 30, 2021. He last served as the higher education secretary.
The Appointments Committee of the Cabinet (ACC) has approved the extension in Khare's tenure, on contract basis on the usual terms and conditions as are applicable in the case of re-employed officers of secretary-level in the government of India, beyond October 12, 2023 for a period "co-terminus with the term of Prime Minister", the order said.
In another order, the ACC has approved the extension in tenure of Rajesh S Gokhale as secretary, Department of Biotechnology, for a period of two years -- with effect from November 1, 2023.

Amit Khare

NGOs registered under the Foreign Contribution Regulations Act (FCRA) will now have to provide details of moveable and immovable assets created by them using foreign funds.
The need for mandatory declaration of assets by the NGOs by the end of every financial year (March 31) came after the Ministry of Home Affairs (MHA) on Monday issued a gazette notification modifying the rules that govern the NGOs which receive foreign funding.
According to the law, all NGOs receiving foreign contributions have to be registered under the FCRA.
The MHA made the changes in the Foreign Contribution Regulation Rules, 2010, by inserting two clauses -- (ba) details of movable assets created out of foreign contribution (as on March 31 of financial year) and (bb) details of immovable assets created out of foreign contribution (as on March 31 of financial year) -- in Form FC-4.
Form FC-4 is filled by NGOs and associations granted FCRA licences for filing their annual returns.
The MHA also decided to exte

Foreign funds

The Biden administration announced Monday that it is offering a $2 billion loan to Poland, which has been a hub for weapons going into Ukraine, to support the ally's defense modernisation.
The State Department said in a statement that Poland is a stalwart ally of the U.S. whose security is vital to the collective defense of NATO 's eastern flank, and that such funding is reserved for Washington's most important security partners.
The U.S. government is also providing Warsaw up to $60 million for the cost of the loan in Foreign Military Financing (FMF) which would support urgent procurements of defense articles and services from the United States, the State Department said. The $60 million is a loan subsidy meant to ensure that Warsaw can secure favourable terms for the loan.
Poland has been a staunch supporter of Ukraine since Russia's full-scale invasion of the country, handing over large numbers of its own tanks, fighter jets and other equipment. It has also been a hub for most of

poland flag

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Is inflation hurting FMCG companies' pockets? Can Indian e-gaming survive the tax demand? Is it time to book profit in real estate stocks? Why has the Cauvery dispute flared up again? Answers here

A (then) pan-masala chomping man notorious for putting down management theories, strategic thinking, and all the stuff that agencies thought was going to save them

Piyush Pandey

Tata Steel on Thursday said it has signed an agreement with Indian Oil Corporation Limited and its business associate to further reduce carbon footprint at its Ferro Alloys plant.
The agreement encompasses LPG supply, installation of LPG facilities, and the operation and maintenance of the same at the company's Ferro Alloys Plants in Gopalpur of Ganjam and Athagarh of Cuttack districts in Odisha, the steel major said in a statement.
Tata Steel has decided to transition from Furnace Oil and High-Speed Diesel to a more sustainable fuel option - Liquified Petroleum Gas (LPG) in response to the pressing environmental concerns and the global imperative to reduce carbon emissions.
This eco-friendly move is expected to bring about a considerable reduction in carbon emissions, it said.
Tata Steel's Ferro Alloys and Minerals Division Executive-In-Charge Pankaj Satija said, "The agreement, which is a part of our sustainability initiatives, will help us in reducing the carbon footprint at our

tata steelwork, tata, tata group

Normal life is likely to be affected, especially in the southern part of the state, with pro-Kannada and farmers' organisations calling for Karnataka Bandh' on Friday to protest the release of Cauvery water to Tamil Nadu.
Kannada Okkuta', an umbrella organisation for Kannada outfits including factions of Karnataka Rakshana Vedike, Kannada Chalavali (Vatal Paksha) and various farmers' bodies have given a call for the statewide dawn-to-dusk shutdown.
There will be a massive protest procession from Town Hall to Freedom Park in the city, in which people from all walks of life are likely to participate, the organisers said.
They have said that the bandh is for the entire Karnataka and that they will try to shut highways, toll gates, rail services, and also airports.
The opposition BJP and JD(S) too have extended their support to the bandh, as also hotels, autorickshaws and hail riders associations in Karnataka.
"Autorickshaw Drivers' Union and Ola Uber Drivers and Owners' Association .

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India's top 75 brands have a combined brand value of $379 billion, a decline of 4 per cent from 2022

Indian Army's Regiment of Artillery is looking to use the expertise of Indian Industry to produce 155 mm/52 calibre Towed Gun System

Logistics Park Policy

CEVA Logistics to take controlling stake in Stellar Value Chain Solutions

Logistics to entail huge scope of investment for youth: MoS Chandrasekhar

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Panattoni enters India; to invest $200 mn on building 4 logistics parks

Telangana Cabinet approves logistics policy for state to boost e-commerce

Union Minister Gadkari announces multi-model logistics park in Silchar