News Broadcasting
HTMT consolidates media subsidiaries, spins off IT/ITES biz
MUMBAI: Hinduja TMT Limited (HTMT) is unifying its media subsidiaries under one umbrella while spinning off its IT/ITES business into a separate entity. The demerger exercise is to bring independent focus to the two lines of activities, a senior company executive said.
The residual HTMT (without IT/ITES) will house the media business and have a cash of $125 million. This will be used for new business initiatives, acquisitions and funding the expansion of the media and entertainment business.
As part of the restructuring, In2Cable (subsidiary which is into broadband business) and InNetwork Entertainment (content) are being merged into IndusInd Media & Communications Ltd (cable TV distribution under Incablenet brand).
“The parent company for the consolidated media business will be HTMT (an existing listed entity),” said HTMT global chief financial officer Yagnesh Sanghrajka. HTMT will have 60.5 per cent equity of the merged media and entertainment entity while Intel and Kudelski will hold 5 per cent.
The demerged IT/ITES company, HTMT Technologies Ltd, is expected to list in February-March 2007. It will have a cash of $140 million. The funds will be used for acquisition opportunities overseas, particularly the US, as the company plans to add to its geographical reach and domain competencies.
The IT/ITES business has a strong presence in Healthcare, Telecom, Consumer Electronics and BFSI segment. It is present in 5 different countries and has a successful track record in acquiring and integrating overseas ITES-BPO companies in the past two years. It is now looking for more such acquisitions in the USA-UK-Latin American markets to consolidate its position and expand inorganically as a leading global player in this industry.
“Both the entities will have enough cash to pursue their independent expansion plans. The money is from the proceeds of the Hutchison Essar stake sale which fetched $450 million. Out of this, $150 million is for debt repayment while payout towards dividend will be around Rs 1.3 billion. The balance will remain with these two entities,” Sanghrajka said.
Post restructuring, a shareholder of HTMT holding two equity shares of Rs 10 each would receive one equity share of Rs 10 in HTMT Technologies and one equity share of Rs 10 in HTMT.
“The restructuring of the media business is from April. The demerger would be recorded from 1 October,” Sanghrajka said.
The merger of media and entertainment is being done to converge video, voice and data services under one entity as a triple play provider. The merger will bring in operational efficiencies, provide sharper focus on the core business of media & entertainment, telecom and content distribution and ensure smooth implementation of conditional access system (CAS) across Indian cities, packaged with value added services, he added.
The demerger of the IT/ITES business as well as the restructuring of the media and entertainment entities is subject to requisite statutory approvals and sanction of the Mumbai High Court.
HTMT also announced a special dividend of Rs 20 per share on shares of Rs 10 each to the shareholders out of the proceeds of the Hutchison Essar sale.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
