Archive: February 28, 2026

IMFA completes strategic acquisition of Tata Steel Limited’s (TSL) ferro chrome plant

Bhubaneswar, Feb 28: Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of value-added ferro chrome, has announced the completion of the strategic acquisition of Tata Steel Limited’s (TSL) ferro chrome plant in Kalinganagar, Odisha. The transaction is valued at Rs 707.26 crore comprising base consideration of Rs 610 crore along with GST and net working capital, and has been funded entirely from internal accruals. 

Spread across 115 acres in Kalinganagar, the newly-acquired facility consists of four furnaces capable of producing 100,000 tonnes per annum (tpa) annually which will further increase to 150,000 tpa when the partially built fifth furnace is commissioned in approximately one year.

Commenting on the acquisition, Mr Subhrakant Panda, Managing Director, IMFA said: “It is a transformative deal which marks a key milestone in the company’s growth journey. We are committed to creating value for all stakeholders by working towards a smooth and seamless integration which delivers significant operational synergies. Together with our greenfield expansion, it positions us as India’s largest producer of ferro chrome and amongst the foremost globally. We will continue to shape the future of ferro chrome – responsibly, sustainably and ambitiously.”

Shree Cement’s Chairman Emeritus B.G. Bangur honored with Hurun Lifetime Achievement Award 2025–26

Chandigarh, Feb 28: Hurun India, the Indian arm of the global Hurun Report known for its authoritative rankings and research on wealth creation and entrepreneurship, has conferred the Hurun Lifetime Achievement Award upon Mr. Benu Gopal Bangur, Chairman Emeritus of Shree Cement Limited, at the India’s Most Respected Entrepreneurs Awards. The honour recognises his contribution to India’s industrial development and his leadership in building a disciplined, future-focused enterprise.

Under Mr. Bangur’s stewardship, Shree Cement has emerged as one of India’s most respected and efficient manufacturing companies, anchored in operational discipline, capital prudence and sustainable value creation.

Today, with an installed cement capacity of ~69 MTPA across India and overseas, Shree Cement continues to strengthen its position among the country’s leading cement manufacturers, reflecting decades of measured expansion and strategic foresight.

Upon receiving the recognition, Mr. B. G. Bangur, Chairman Emeritus of Shree Cement Limited, said: “Being recognised on a platform that honours leadership and institution building is a privilege. I accept this award not as a personal milestone, but as a reflection of the collective values and discipline that have shaped Shree Cement over the decades. I share this honour with everyone who has been part of our journey.”

Over the past year, the company advanced its growth agenda while enhancing operational efficiency and supply chain agility across its integrated and grinding units, reinforcing cost competitiveness at scale.

Sustainability remains central to Shree Cement’s strategy. With over 60 percent of electricity requirements met through renewable sources and an installed renewable energy capacity of over 630 MW, the company continues to integrate solar, wind and waste heat recovery systems into its operations, strengthening energy resilience and environmental performance.

Hurun India noted this consistent execution and responsible growth approach, recognising Mr. Bangur as a key architect of India’s modern industrial legacy.

Goa Tourism concludes successful participation at SATTE 2026 garnering strong industry response

Goa, Feb 28: Goa Tourism marked a strong and impactful conclusion to its participation at SATTE 2026 held at the Yashobhoomi Convention Centre, New Delhi. Following an encouraging opening grace by Gajendra Singh Shekhawat, the Goa pavilion continued to attract significant footfall and sustained engagement from domestic and international buyers, tour operators, travel trade representatives, and industry leaders through the final day of the exhibition.

Over the three-day event, the Goa Tourism delegation comprised Shri Jayesh Kankonkar, Assistant Director (Tourism); Shri Deepak Narvekar, Deputy General Manager (Marketing), Goa Tourism Development Corporation; and Smt. Chitra Vengurlekar, Assistant Tourist Officer engaged in a series of productive B2B meetings and strategic discussions aimed at strengthening partnerships across key source markets. The interactions focused on experiential travel, spiritual and cultural circuits, hinterland exploration, wellness, adventure tourism, and year-round offerings aligned with the State’s Regenerative Tourism roadmap. The consistent response at the pavilion reflected growing confidence in Goa’s diversified and future-ready tourism ecosystem.

The Goa Pavilion also saw the active participation of around 82 co-exhibitors, including hoteliers, tour operators, and DMCs, who showcased their products and services alongside the State’s official delegation.

Hon’ble Minister for Tourism, Shri Rohan A. Khaunte, stated, “Goa’s participation at SATTE 2026 reflects a continued commitment to positioning the State as a progressive, resilient, and year-round destination. The encouraging response from national stakeholders highlights the growing acceptance of the Regenerative Tourism approach, which places equal emphasis on community, culture, environment, and economic growth. The partnerships strengthened during this platform will further accelerate Goa’s journey towards sustainable and responsible tourism leadership.”

Director of Tourism, Shri Kedar Naik, remarked, “SATTE continues to serve as a significant platform for meaningful industry engagement. The strong interest shown in Goa’s evolving tourism model highlights the State’s growing appeal beyond conventional travel narratives and reinforces strategic outreach across key markets.”

Marking the successful showcase, Goa Tourism was presented with a Participation memento in recognition of its active presence at the exhibition. Throughout the exhibition, the Goa pavilion showcased a comprehensive portfolio of the State’s tourism offerings, highlighting heritage and spiritual tourism initiatives, festivals, adventure activities, wellness retreats, and immersive hinterland circuits.

A defining highlight of this year’s participation was the continued industry appreciation for Goa’s pioneering Regenerative Tourism model. Buyers and stakeholders acknowledged the State’s approach towards responsible tourism practices, improved governance mechanisms, and collaborative engagement with local communities.

As SATTE 2026 concluded, Goa Tourism’s dynamic presence reaffirmed its strategic focus on innovation, sustainability, and strengthened trade partnerships. The successful engagements and new alliances formed during the event are poised to further enhance Goa’s visibility and competitiveness across national and international tourism markets. 

NAL Academy collaborates with GARP to strengthen Risk Management and Financial Education Ecosystem in India

NAL Academy Limited (formerly known as NSE Academy Limited) (NAL), a wholly owned subsidiary of the National Stock Exchange of India (NSE), and the Global Association of Risk Professionals (GARP), the world’s leading professional association for risk management, have announced a strategic partnership aimed at enhancing education, certification pathways, and professional capability building in the domains of risk management, financial markets, and allied analytics.

Through this collaboration, NAL Academy and GARP will align NAL Academy’s new industry-relevant Cybersecurity Bootcamp with GARP’s Risk and AI (RAI) Certificate. The partnership will enable Indian professionals to build practical, application-oriented risk management skills in areas of growing importance for financial institutions, corporates and regulators in India and around the world.

The collaboration combines NAL Academy deep expertise in Indian and global financial markets, regulatory frameworks, and practitioner-led education with GARP’s expertise and leadership in developing risk management certification and educational programs that align with global industry standards. The partnership aims to create a strong talent pipeline that will support India’s technology led growth and digital transformation of its financial services ecosystem.

The joint initiative will support a wide range of learners, including early-career finance professionals, mid-to-senior level managers, risk practitioners, bankers, treasury professionals, and university students aspiring for global careers in finance and risk management. This new program will be offered through blended, virtual, and self-paced formats to ensure accessibility and scale.

Mr. Rich Apostolik, President and CEO of GARP, said:

“As organizations in India and around the world leverage technological innovation to drive operational efficiencies and business growth they become increasingly vulnerable to non-financial threats like cybersecurity breaches and Generative AI model risk that can impact business resilience, reputation and financial performance. This collaboration with NAL Academy is a great first step in the support of upskilling on AI risk and governance, closely aligning with GARP’s educational mission and RBI’s FREE-AI Framework.”

Mr. Abhilash Misra, MD & CEO, NAL Academy Limited, said:

“This collaboration with GARP reinforces our commitment to developing future-ready finance and risk professionals. By aligning to global risk management frameworks with India-specific market practices, we aim to empower learners with skills that are both internationally benchmarked and locally relevant.”