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Business news wrap: UltraTech-India Cement deal to tax notice to Colgate-Palmolive - Top 5 news of the day
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2 min read | Updated on July 29, 2024, 16:56 IST
SUMMARY
Here's a curated roundup of the top five business news articles on Monday, July 29.
Stock list
Aditya Birla Group flagship company UltraTech Cement acquiring a 32.7% stake in India Cements for ₹3,954 crore was the major business event of the day. Adani Wilmar reporting its highest ever net profit was another major development.
Here are the top five business news stories of July 29:
What UltraTech's acquisition of India Cements means for cement industry
India Inc witnessed one of the biggest deals in recent times on Sunday when UltraTech Cement, India's leading cement company, announced the acquisition of India Cements, thus bolstering its position in the southern market. Read more.
Chola MS General Insurance records ₹1,945 crore GWP in Q1 FY24
Cholamandalam MS General Insurance Company has reported a gross written premium (GWP) of ₹1,945 crore for the June quarter of the financial year 2024-25, the company said on Sunday. Read more.
AIA Engineering to consider share buyback on August 7
AIA Engineering's board will meet on August 7 to consider a proposal for a buyback of shares. If approved, it will be the first-ever buyback from the company. Read more.
Colgate-Palmolive receives ₹248.7 crore tax notice
In an exchange filing, Colgate Palmolive (India) informed that it received a tax demand notice of ₹248.74 crore from the Income Tax Authority. The FMCG major, however, has stated that it will challenge this order by filing an appeal before the Income Tax Appellate Tribunal. Read more.
Adani Wilmar posts highest-ever net profit in Q1FY25
Adani Wilmar reported its highest-ever net profit at ₹313 crores for Q1FY25 compared to losses in the same period a year ago. The company's net profit increased 500% year-on-year compared to a loss of ₹78.92 crore in Q1FY24. Read more.
About The Author
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.
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