Current Affairs - Business

UltraTech Cement, part of the Aditya Birla Group, is acquiring a 32.72% stake in India Cements for ₹3,945 crore. This acquisition, which includes an open offer to shareholders at ₹390 per share, will strengthen UltraTech’s position in the Southern markets and support its goal of surpassing 200 MTPA in total cement capacity. This strategic move follows an earlier investment in India Cements and aligns with UltraTech's broader strategy to expand its footprint in the cement industry.

The National Small Industries Corporation (NSIC) partnered with Drone Destination to establish a drone training centre at NSIC in New Delhi. This initiative aims to focus on skill development, employment generation, and empowering the drone ecosystem, offering training in various aspects of drone technology and operations.

Mankind Pharma, a major player in the Indian pharmaceutical and consumer healthcare sectors, has acquired Bharat Serums and Vaccines (BSV) from Advent International for Rs 13,600 Crore. This acquisition allows Mankind Pharma to strengthen its portfolio in women's health and fertility drugs and gain access to high-entry barrier products in critical care. The strategic move is set to enhance Mankind Pharma's market position and showcase its commitment to providing quality healthcare products.

Indian Oil Corporation Ltd (IOCL) partnered with the Indian Navy to advance hydrogen and fuel cell technology for heavy-duty e-mobility. As part of this collaboration, IOCL handed over a green hydrogen fuel cell bus to the Indian Navy. This initiative aims to promote the use of hydrogen as a clean energy source in transportation. The Memorandum of Understanding was signed in the presence of key officials, including Admiral Dinesh K Tripathi and S M Vaidya, highlighting the commitment of both entities to innovative and sustainable technologies.

ONGC Videsh Limited (OVL), a subsidiary of ONGC, recently acquired Norwegian firm Equinor’s stakes in Azerbaijan’s offshore Azeri Chirag Gunashli (ACG) oil field and the Baku-Tbilisi-Ceyhan (BTC) pipeline for $60 million. This acquisition increases OVL’s stake in the ACG oil field to 2.95% and in the BTC pipeline to 3.097%, highlighting OVL's strategic investment in international energy assets.