Resources conglomerate Vedanta has announced its decision to demerge into six listed companies. This move comes as the company faces bond redemptions of over $3 billion in the next 18 months at its UK-based holding company. The demerger aims to strengthen the valuations of Vedanta’s diverse revenue streams, including mining, energy, and non-ferrous metals.
In other news, jewellery chains are now targeting small towns to expand their businesses. Customers in these towns no longer need to travel to larger cities to purchase gold jewellery. Tanishq, a popular jewellery brand, has opened an outlet in Pollachi, providing convenience to customers like Latha Radhakrishnan.
Meanwhile, the merger between Sony Pictures Networks India and Zee Entertainment Enterprises is facing delays. Sony Group Corp has confirmed that there will be a delay of several months in the merger due to legal glitches. However, both parties remain committed to completing the necessary processes and closing the deal. The merger aims to create one of the largest media companies in India.
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