Paper / Wood / Glass/ Plastic/ Marbles-Ind'l Goods/Svs-Industry-The Economic Times 
Adani to rival Reliance with PVC plant by 2028
Gautam Adani's conglomerate is venturing into the petrochemicals sector with a 1 million tonne per year PVC plant in Mundra, Gujarat, challenging Reliance Industries' dominance. This project aims to reduce India's import dependency amid growing PVC demand driven by agriculture, infrastructure, and housing sectors. The plant, slated for commissioning by fiscal 2028, will utilize acetylene and carbide-based production processes.
The Directorate General of Trade Remedies has initiated an anti-dumping investigation into imports of multi-layer paperboard from Indonesia, following a complaint from the Indian Paper Manufacturer Association. The association alleges that the domestic industry is suffering injury due to dumped imports.
Lenders approve Uganda-based INSCO's ₹2,257-crore plan for Hindusthan Glass
Creditors, including State Bank of India, have approved Independent Sugar Corp's revised ₹2,257 crore resolution plan for Hindusthan National Glass. The plan involves an upfront payment of ₹1,901.5 crore and a deferred payment of ₹356.3 crore. Secured financial creditors will recover 66.18% of their claims, with a ₹1,000 crore capital expenditure planned to revive HNG's operations.
INSCO submits Rs 2,752 crore revised resolution plan for HNGIL take over
Independent Sugar Corporation (INSCO) has presented a revised Rs 2,752 crore resolution plan to acquire Hindusthan National Glass & Industries Limited, aligning with a Supreme Court order. The plan includes Rs 2,200 crore upfront cash and Rs 550 crore in equity.
INSCO to submit improved resolution plan for Hindusthan National Glass
Independent Sugar Corp (INSCO), the approved bidder, will present an enhanced resolution plan of ₹356 crore for Hindusthan National Glass to lenders. This follows a Supreme Court directive to match AGI Greenpac's offer after rejecting the latter's plan due to delayed CCI approval. The resolution professional will now seek CoC approval for the revised INSCO plan by July 2025.
AGI Greenpac flags flawed CCI nod to INSCO’s Rs 2,800 crore HNG takeover
AGI Greenpac has challenged the approval of Independent Sugar Corp's takeover of Hindusthan National Glass. AGI claims the approval by the Competition Commission of India was flawed. They allege that INSCO filed unilaterally, violating regulations. AGI argues the approval is invalid and seeks a review. The Supreme Court had previously addressed the matter.
Hindusthan National Glass lenders to recover more as INSCO to match AGI Greenpac bid
The Supreme Court's decision in the Hindusthan National Glass insolvency case has increased the payout for creditors. Independent Sugar Corporation will match AGI Greenpac's cash offer, raising the total payout to ₹2,752 crore. The Supreme Court dismissed AGI's review petition and affirmed INSCO's commitment to the Committee of Creditors.
India’s paper imports more than double in four years to 2.05 million tonne, posing challenges for local players: IPMA
India's paper industry is facing significant challenges due to a surge in paper and paperboard imports, which reached a record 2.05 million tonnes in FY25. Imports from China have jumped by 33%, now accounting for 27% of India's total paper imports.
Agarwal Toughened Glass India Ltd. delivers stellar H2 FY25 results: PAT doubles and growth momentum accelerates
Agarwal Toughened Glass India Ltd. (ATGIL) announced impressive FY25 results, marked by a 103% surge in H2 PAT and significant gains in profitability. Driven by robust demand and regulatory tailwinds, the company is strategically venturing into solar glass and expanding capacity.
Kajaria Ceramics exits from plywood business due to continued losses
Kajaria Ceramics has decided to discontinue its loss-making plywood business, Kajaria Plywood, due to its lack of strategic fit and continued losses, expecting closure by June 30, 2025. This decision led to a 58.6% decline in consolidated profit for the March quarter, settling at Rs 43.18 crore.
Bengaluru firm unveils tech to recycle plastic that can't be melted
Steer World in Bengaluru has introduced the Omega Twin-Screw Extrusion Technology, a breakthrough for recycling previously un-meltable plastics like crosslinked polyethylene (XLPE). This innovation uses patented Fractional Geometry Technology to break carbon linkages, transforming thermoset waste into reusable De-XLPE pellets. This process enables circularity in polymer manufacturing by allowing the production of new wire insulation from recycled materials.
NCLAT upholds liquidation of Sintex Plastics
The NCLAT upheld the NCLT's decision to liquidate Sintex Plastics Technology, rejecting a bidder's challenge based on the sole CoC member's abstention. The appellate tribunal emphasized the paramount importance of the Committee of Creditors' commercial wisdom, citing a Supreme Court ruling. The CIRP for Sintex Plastics expired after extensions, leading to the liquidation order, aligning with IBC timelines and procedures.
Paper industry seeks ban on inferior grade material imports, policy action amid US tariff war
The Indian Paper Manufacturers Association (IPMA) is urging government intervention to protect local manufacturers from a surge in cheap paper imports. Concerns are mounting due to tariffs imposed by the US on key Asian exporters, potentially diverting excess inventory to India.
Aditya Birla sells Century Pulp and Paper to ITC for Rs 3,498 crore
Aditya Birla Group has sold Century Pulp and Paper to ITC Limited for Rs. 3498 crore. The sale, carried out through a slump sale route, enables Aditya Birla Real Estate to focus on its real estate endeavors. ITC, a major player in the paper industry, was the preferred buyer due to its significant market presence.
Aditya Birla Real Estate streamlines portfolio, sells Century Pulp and Paper to ITC for Rs 3,498 crore
Aditya Birla Real Estate Limited board approved the divestment of its pulp and paper venture in Uttarakhand to ITC Limited for Rs 3,498 crore. This strategic move will refocus ABREL on real estate. The deal awaits regulatory approvals, including from the Competition Commission of India. JM Financial and AZB & Partners advised on the transaction.