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The National Company Law Tribunal has officially sanctioned Adani Enterprises' acquisition of Jaiprakash Associates, marking a historic moment in India’s insolvency landscape. Secured in November 2025, this takeover allows Adani Enterprises to take the helm of the struggling cement and infrastructure firm, setting the stage for a transformative era for Jaiprakash Associates. View More
Mumbai: The National Company Law Tribunal (NCLT) has approved the acquisition of Jaiprakash Associates Ltd (JAL) by Adani Enterprises, clearing the way for one of the most high-profile resolutions under India's insolvency framework. The approval will allow Adani Enterprises to take control of the debt-laden infrastructure and cement company. The Adani Group had emerged as the winning bidder in November 2025, offering an upfront payment of around Rs 14,535 crore, surpassing competing bids from Vedanta and Dalmia Bharat. The company today informed the stock exchanges that NCLT has orally pronounced an order today approving the resolution plan dated October 14, 2025 submitted by Adani Enterprises. The resolution plan will be implemented by AEL, its promoter group, or Adani entities, or through any special purpose vehicle including one or more special purpose vehicles held by any Adani entity or any entity identified by AEL, in accordance with the terms of the resolution plan, Adani said. Jaiprakash Associates, the flagship of the Jaypee Group, has a portfolio which spans across cement, power, engineering, hospitality, real estate, and sports infrastructure. In the first round, some bids hinged on the outcome of a legal dispute over its 1,000-hectare Sports City project in Greater Noida, but lenders later sought unconditional offers. NCLT Allahabad Bench, on June 3, 2024, admitted JAL into the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 (IBC) following petitions from ICICI Bank and SBI. Lenders sold their debt to the bad bank in March 2025. The National Asset Reconstruction Company Ltd (NARCL), which controls over 90% of JAL's debt, had earlier acquired about Rs 55,000 crore of loans for Rs 12,000 crore in a mix of cash and security receipts. Other creditors include Arcil, overseas branches of State Bank of India and Bank of Baroda, and thousands of homebuyers. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
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The rivalry between the Adani Group and the Aditya Birla Group’s UltraTech Cement Ltd has resulted in rapid manufacturing capacity expansion. In the last three-and-a-half years, the two conglomerates have added nearly 120 mtpa of cement manufacturing capacity between them. View More
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Global technology major ABB will invest approximately $75 million in India in 2026. This expansion will boost manufacturing and research capabilities across key sectors. The investment supports ABB's local-for-local strategy, strengthening operations and creating over 300 new skilled jobs. This move aligns with India's growing demand for energy transition and infrastructure development. View More
Global technology major ABB on Sunday announced plans to invest about $75 million in India in 2026 to expand its manufacturing footprint and research and development (R&D) capabilities across key infrastructure and industrial segments. The investment, which follows a $35 million spend in 2025, will support the company’s "local-for-local" strategy, under which nearly 85% of ABB’s products and solutions sold in India are manufactured locally. According to the company, the investment will strengthen operations across its Electrification, Motion and Automation business segments and create over 300 new skilled jobs in engineering, operations and research. "This investment in India is an important part of our strategy to support infrastructure build-out and growth in one of our fastest growing markets," said Morten Wierod. "We are seeing strong demand driven by the country’s energy transition, grid modernization, data center development, and the rapid expansion of the metro and high-speed rail segments. Our expanded facilities will ensure we meet this demand while enhancing our capabilities to serve other markets in the region," he added. Live Events Investments across key locations The company said the investments will be spread across several manufacturing and R&D locations in India. In Bengaluru, ABB will invest $14 million at its Nelamangala campus facilities to expand production capacity and introduce new technology ranges, including advanced electrical protection and enclosure solutions. The company will also scale up its converter manufacturing facility, which supports India’s growing sustainable mobility sector, including metro and high-speed rail. Another $21 million investment will go into ABB’s Peenya facility in Bengaluru, where the company plans to expand manufacturing capacity for low-voltage drives and specialised motors. The facility will also see the addition of an innovation lab, remote monitoring and diagnostics systems, and upgraded training facilities. In Hyderabad, ABB is developing a new laboratory and office hub with an investment of $12 million as part of the first phase. The facility will host R&D and engineering teams, while a state-of-the-art High Power laboratory is planned in the next phase. The company will also invest $22 million in Nashik to expand its production of indoor and outdoor circuit breakers and enlarge its Vacuum Interrupter (VI) factory, while driving localisation of 33kV primary gas-insulated switchgear and SF6-free technologies by 2028. In Vadodara, ABB plans to invest $6 million to scale up manufacturing of slow-speed synchronous generators and induction motors, catering to industries such as metals, oil and gas, cement and wind energy. Strengthening India operations ABB said the investment builds on a decade of growth in India, during which the company has invested more than $23 crore to strengthen the country’s position as a manufacturing hub. The year 2026 also marks ABB’s 76th year of operations in India. The company reported revenue of more than $1.5 billion from India in 2025, accounting for around 4% of ABB Group’s global revenue. With over 10,000 employees in the country, ABB operates nearly 25 manufacturing, distribution and operating facilities along with five major R&D centres across India. ABB, a global leader in electrification and automation technologies, said the latest investment will further support India’s infrastructure expansion and the transition to more sustainable and efficient industrial systems. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Explore today’s stock market highlights featuring Tata Power, UltraTech Cement, RailTel, and major developments in various industries View More
The acquisition is expected to strengthen the JSW Cement’s access to key raw materials and support its long-term expansion strategy View More
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