Category: Business

Apr 17 (BNP): Aditya Birla Capital has announced that its housing finance subsidiary, Aditya Birla Housing Finance Ltd (ABHFL), has raised ₹2,750 crore through the sale of a 14.29 per cent stake to Indriya Ltd, an entity associated with private equity firm Advent International.

In a regulatory filing, the company said that following the transaction, ABHFL is no longer a wholly owned subsidiary of Aditya Birla Capital. The parent company now holds an 85.505 per cent stake in the housing finance arm.

The board of ABHFL approved the allotment of 12.32 crore equity shares at a price of ₹223.12 per share to Indriya Ltd as part of the deal.

The transaction marks a strategic capital infusion aimed at strengthening the housing finance subsidiary’s balance sheet and supporting its future growth plans.

April 18: Shyam Metalics and Energy Limited announced the successful commissioning of Phase II of its Cold Rolling Mill (CRM) facility for colour coated sheets at its Jamuria plant in West Bengal. The facility, operated by its wholly owned subsidiary, Shyam Sel and Power Limited (SSPL), has commenced commercial production effective 16th April 2026.

Phase II comprises an advanced processing Dual Pot GI cum Galvalume (GL) line with a capacity of 0.15 million tonnes per annum (MTPA), significantly enhancing the Company’s product range and technical capabilities. This expansion marks a critical step towards catering to more demanding and precision-driven applications across industries. With this incremental capacity, the total installed capacity of the CRM facility reached to 0.40 MTPA. This includes the existing Phase I capacity of 0.25 MTPA and the newly commissioned Phase II capacity, further strengthening the Company’s footprint in the value-added steel segment.

With this development, Shyam Metalics is now strategically positioned to cater the solar energy sector, particularly in the manufacturing of mounting structures for solar panels, an area that was previously heavily dependent on imports. By addressing this gap, the Company is actively contributing to India’s vision of self-reliance and domestic manufacturing excellence.

The Phase II expansion also aligns with the Government of India’s Production Linked Incentive (PLI) Scheme – PLI 2, reinforcing Shyam Metalics’ commitment to national initiatives aimed at boosting advanced manufacturing and reducing import dependency.

In addition to renewable energy applications, the enhanced facility will cater to a broader spectrum of high-growth sectors, including automotive and consumer durables/appliances, where demand for high-quality, precision-engineered steel continues to rise and has been primarily import-dependent.

This strategic expansion not only deepens Shyam Metalics’ presence in downstream value-added products but also strengthens its integrated manufacturing ecosystem. With improved product diversification and market reach, the Company is well-positioned to unlock new revenue streams while supporting India’s industrial and infrastructure growth trajectory.

The expanded facility, strategically located in the eastern region of India, offers significant logistical advantages, enabling Shyam Metalics to efficiently serve key demand centres while addressing the region’s supply gap in value-added flat steel products. This Phase II expansion further strengthens the Company’s downstream capabilities and reinforces its position as a leading player in the steel value chain.

Commenting on the expansion, Mr. Brij Bhushan Aggarwal, Chairman and Managing Director, of Shyam Metalics and Energy Ltd., stated:

“The commissioning of Phase II of our Flat Products project is a strategic step towards strengthening our value-added product portfolio and improving overall realizations. With this expansion, we are further strengthening our ability to cater to high-growth, high-margin segments such as solar, automotive and consumer durables.

This phase is expected to drive a better product mix, support margin expansion, and contribute meaningfully to incremental EBITDA over the medium term. Our inclusion under the Government’s PLI Scheme further enhances the overall return profile of the project.

We remain focused on disciplined capital allocation, with a strong pipeline of value-accretive expansions under evaluation and expect optimal ramp-up within the next 10–12 months.”

Apr 17 (BNP): India’s logistics industry is expected to witness strong, sustained growth over the coming decade, with estimates placing its value at around $800 billion by 2030 and close to ₹120 trillion by 2035. The expansion is being driven by large-scale infrastructure development, policy reforms, and increasing digital adoption across supply chains.

A key factor behind this growth is the ongoing capital investment push in transport infrastructure, including highways, rail networks, and dedicated freight corridors. These projects are designed to improve connectivity, reduce transit time, and lower overall logistics costs across regions.

Government initiatives such as the National Logistics Policy (NLP) and PM Gati Shakti programme are also reshaping the sector by improving coordination between departments and streamlining freight movement. India’s logistics cost, currently estimated at 13–14% of GDP, is targeted to gradually decline toward around 8%, enhancing global competitiveness.

At the same time, digital transformation is accelerating efficiency and transparency in supply chains. Platforms like the Unified Logistics Interface Platform (ULIP), e-way bill systems, and RFID-enabled tracking are helping improve real-time visibility, reduce delays, and formalize operations. Industry expectations suggest that up to 60% of the sector could become formalized by 2035.

Demand-side growth is also strengthening the sector, supported by the rise of e-commerce, manufacturing expansion under “Make in India,” and the development of export logistics hubs. These trends are increasing the need for modern warehousing, cold chain networks, and efficient last-mile delivery systems.

With India’s economy projected to expand from around $4.2 trillion in 2025 to nearly $10 trillion by 2035, the logistics sector is expected to play a central role in enabling trade, industrial growth, and consumption across the country.

Mumbai, April 17: Parle Products, has unveiled its latest campaign for Parle Magix, titled ‘Masti Ka Fix’. Designed to celebrate imagination and a light-hearted spirit, the campaign brings alive the playful essence of the brand, turning everyday moments into fun, memorable experiences.

The film showcases a young boy and his friend as they embark on a fun-filled journey powered by the “magic” of Parle Magix. What begins as a simple question whether Magix truly has magic quickly unfolds into a series of imaginative, larger-than-life moments. From parting crowds on a busy street to playfully disrupting a gym scene and even fast-forwarding school time, the narrative captures the sense of wonder, exaggeration, and everyday mischief that resonates universally.

Rooted in fun, spontaneity, and exaggeration, the campaign highlights how Parle Magix transforms everyday moments into exciting experiences. It reinforces the brand’s positioning as a playful, tasty treat that adds a dash of “masti” to daily routines whether at work, during breaks, or while sharing moments with friends and family.

With this campaign, Parle Magix aims to deepen its emotional connect with a wider audience while strengthening its position as a go-to cream biscuit for fun and indulgence. Its unique flavours and affordable pricing further enhance its appeal as an accessible treat for everyday enjoyment.

Commenting on the campaign, Mayank Shah, Chief Marketing Officer, Parle Products, said,

“Parle Magix has always stood for adding joy to everyday moments. With ‘Masti Ka Fix’, we have built on a simple insight, people naturally bring imagination and fun into the ordinary. This theme allowed us to create a campaign that is both relatable and memorable, using storytelling to drive stronger brand recall and engagement. Through this, we aim to deepen our connect with consumers and reinforce Magix as a playful, affordable treat that fits seamlessly into everyday snacking moments.”

Adding to this, Carlos Pereira, CCO & Founder, Carlos Creatives, said,

“The idea was to bring alive the exaggerated imagination that people experience every day. We wanted to create a world where a simple biscuit could unlock moments of magic and mischief. ‘Masti Ka Fix’ captures this beautifully, blending relatability with playful storytelling that resonates widely.”

Launched in 2010, Parle Magix is a cream biscuit range known for combining crunchy biscuits with smooth, flavourful cream. With popular variants such as Chocolate, Orange, Elaichi, Strawberry, and unique dual flavours like Mango-Pineapple and Mango-Coconut, Magix has steadily built a strong presence, becoming a favourite for everyday snacking.

As part of a comprehensive 360-degree rollout, the campaign will be launched across television and digital platforms to maximise reach and engagement among a wide consumer base.

Campaign Credits:

• Client: Parle Products Private Limited
• Brand: Parle Magix
• CMO: Mayank Shah
• Product Manager: Nivesh Gupta
• Deputy Brand Manager: Suraj Kaul
• Creative Agency: Carlos Creatives
• Production House: Bubble Wrap Films
• Director: Arjun Chakradhar

 

Apr 17 (BNP): Bank lending in India picked up strong momentum in FY26, with credit expanding by 16.08% year-on-year, marking its fastest growth since FY24, when growth had crossed 20%, according to Reserve Bank of India (RBI) data.

Deposits also showed healthy traction, rising 13.47% YoY—its strongest pace in the same period. Total bank credit stood at ₹213.61 trillion, while deposits reached ₹262.30 trillion.

In the fortnight ended March 31, credit rose sharply by 2.8% (₹5.92 trillion), compared with a marginal 0.1% increase in the previous fortnight. Deposits grew even faster during the same period, up 4.87% (₹12.18 trillion). However, analysts noted that year-end figures may appear elevated due to changes in RBI reporting dates.

Market experts said credit growth has improved in recent months, led by strong demand from corporates, MSMEs, and retail borrowers, particularly in segments like gold loans. Lower lending rates have also encouraged companies to shift back to bank borrowing, as bond market yields remained relatively high.

According to industry experts, external funding avenues such as overseas borrowing have become costlier due to elevated global yields and currency volatility, further boosting reliance on domestic bank credit.

Data shows major lenders including State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank have reported strong growth across corporate and MSME loan segments.

Analysts also pointed out that bond market activity has remained subdued due to higher yields, while tighter global financial conditions have constrained external commercial borrowing. This has further strengthened banks’ role as key lenders in the system.

However, experts cautioned that sustaining this pace of credit growth will require stronger deposit mobilisation, as rising credit demand is already creating pressure on liquidity and balance sheets. Banks have increasingly relied on certificate of deposits (CDs) to bridge funding gaps, with issuances rising sharply during FY26.

Overall, while credit momentum remains strong, analysts expect banks to focus on deposit growth and funding stability to support sustained lending expansion going forward.

New Delhi, Apr 17 (BNP): India is steadily strengthening its position in the global clean energy transition through a combination of policy support, technological development, and industry participation, Union Minister Jitendra Singh said on Thursday.

Addressing the World Hydrogen Energy Summit alongside the World Petrocoal Congress in New Delhi, he said India is pursuing a balanced energy strategy that integrates sustainability with energy security, while advancing across multiple sectors including green hydrogen, nuclear energy, and renewables.

The Minister highlighted that India is actively developing indigenous capabilities in key technologies such as electrolyzers and is encouraging greater public-private collaboration to accelerate innovation and scale-up clean energy solutions.

He noted that under the National Green Hydrogen Mission, the country is targeting large-scale adoption of alternative fuels to decarbonise industries such as steel and cement, while also working to reduce production costs through domestic manufacturing.

On nuclear energy, he said India is aiming for 100 GW of capacity by 2047 under its Nuclear Energy Mission, along with development of small modular reactors, including indigenous projects currently in progress.

Dr. Singh also pointed to planned investments in the oil and gas sector and efforts to expand exploration areas, while increasing the share of natural gas in the energy mix as part of a broader transition strategy.

He added that emerging sectors such as electric mobility, battery recycling, and renewable manufacturing are creating new green job opportunities and supporting India’s shift toward a low-carbon economy.

Overall, the Minister said India’s demographic strength, innovation ecosystem, and policy direction position it as a key player in global decarbonisation efforts while ensuring long-term energy security.

New Delhi, Apr 17 (BNP): India’s share of the global economy is projected to grow steadily over the long term, reaching around 7% by 2050, according to a report by McKinsey & Company.

The report attributes this expected rise to a combination of factors, including strong domestic demand, ongoing structural changes in the economy, and the expanding role of private capital and alternative investment markets. These developments, it notes, are helping unlock new sources of funding for businesses and supporting broader economic expansion.

It also highlights India’s demographic advantage, rapid urbanisation, and accelerating digital adoption as key drivers that could strengthen growth momentum in the coming decades.

At the same time, McKinsey cautions that maintaining this trajectory will depend on sustained reforms, productivity improvements, and deeper integration with global trade and investment flows.

Overall, the findings underline India’s growing weight in the global economy, with the country expected to play a more prominent role in shaping global growth trends by mid-century.

New Delhi, Apr 17 (BNP): India continues to broaden its global economic engagement, with Commerce and Industry Minister Piyush Goyal holding discussions with senior leadership from South Korea and Austria aimed at strengthening trade, investment, and business cooperation.

The discussions focused on expanding bilateral economic ties, improving market access, and identifying new areas of collaboration across sectors such as manufacturing, technology, innovation, and sustainable development.

According to officials, the engagements are part of India’s ongoing effort to diversify its trade partnerships and attract long-term foreign investment, particularly as global supply chains continue to shift. Both sides also explored ways to boost business-to-business linkages and encourage greater private sector participation.

India is actively positioning itself as a reliable and competitive investment destination while seeking deeper integration with major economies in Asia and Europe. The latest diplomatic outreach reflects New Delhi’s intent to build more balanced and resilient global economic relationships.

Noida, April 17: Cravicious Foods Pvt. Ltd. leading brand in frozen foods, has announced the launch of its new manufacturing facility with a production capacity of 125 metric tonnes, marking a significant step in the company’s expansion plans and its focus on strengthening supply capabilities. The brand intends to widen its footprint in HoReCa with this expansion of capacity. 

The new facility is aimed at supporting the brand’s growing demand across both B2C and B2B segments, while enabling it to expand its product portfolio and cater to a wider market. With increasing consumer preference for convenient, ready-to-cook and ready-to-eat food options, the company is looking to scale its operations while maintaining its quality-first approach. The first facility of the brand easily held a capacity of 300mt per month.

Headquartered in Greater Noida, Cravicious Foods operates at the intersection of food science, process innovation, and supply chain efficiency. The company serves both vegetarian and non-vegetarian segments through its consumer brands Meaty Story and Veggie Story, alongside its institutional offerings under the Cravicious Foods brand.

The new facility is equipped with advanced freezing technology and designed to meet stringent hygiene and quality standards, supported by over 50 quality checks across sourcing, processing, packaging, and dispatch. This expansion is expected to further strengthen the company’s ability to deliver consistent, safe, and high-quality frozen food products across channels including quick commerce, D2C, and HORECA.

Commenting on the development, a company spokesperson Mr.Ekansh Garg Co-founder & CEO of Cravicious Foods said, 

“We are actively working on expanding our range to keep pace with how consumers are eating today while staying true to our clean label and quality benchmarks. The pipeline includes new formats across both non-vegetarian and vegetarian categories, with a strong focus on products that work for everyday snacking as well as complete meal solutions for home and foodservice use. A lot of this development is happening alongside the commissioning of our next manufacturing unit, which is scheduled to go live shortly and will immediately strengthen our production and quality capabilities with a 15 to 20 per cent increase in manpower. All potential launches go through rigorous trials at our facility to test freeze stability, texture and cooking performance in real-world conditions. While specific products are still under wraps, the intent is to introduce offerings that add depth to our portfolio and serve both B2C and B2B demand more effectively.”

With this expansion, Cravicious Foods continues to build a process-led, scalable manufacturing ecosystem, positioning itself to meet evolving consumer needs while strengthening its presence in India’s growing frozen food market.