Saturday, October 03
The entry of the Aditya Birla and Adani groups into the wires and cables sector is expected to lead to consolidation in the space, as these conglomerates are likely to consider acquisitions to quickly expand the business, industry players said.This may also open up opportunities for some of the small players to cash out, they said, as the profitability of existing companies is expected to take a hit of around 200 basis points (2 percentage points) due to increasing competition.“Companies have announced such huge investments, so it cannot be only greenfield, because that will take a lot of time,” said Sunil Chordia, managing director of Rajratan Global Wire, a manufacturer of bead and high-carbon steel wires. “Consolidation is the answer for the long term, so some smaller companies wi
Air India will reduce its international services operated by widebody aircraft by 15% over the next few weeks, as part of a broader effort to stabilise operations and prioritise safety in the wake of the recent crash of flight AI171, the company announced on Wednesday.The airline has cited multiple overlapping challenges, including mandatory safety inspections, regional night airspace curfews, ongoing geopolitical tensions in the Middle East, and a cautious operating posture adopted by engineering and cockpit teams. The temporary reduction will begin immediately and continue at least through mid-July.“This decision has been taken to ensure stability of our operations, improve efficiency, and minimise inconvenience to passengers,” the airline said in a statement on June 18, 2025. Over t
