Page 86 - Companies

RCom sells 5% in tower biz

Anil Ambani, chairman, Reliance Communications, today announced unlocking value of the tower company, Reliance Telecom Infrastructure, by selling 5% stake based on a valuation of Rs 27,000 crore.

RCom buys Yipes for $300mn

In what is its biggest acquisition deal, Reliance Communications (RCom) has bought out US-based data communications company Yipes Holdings for $300 million (Rs 1,200 crore) in an all cash deal.

Maruti goes rural

After establishing its foothold in urban and semi-urban markets, Maruti Udyog has embarked on an ambitious drive in villages and entered into an understanding with regional rural banks for car finance to push sales. "We have already sold 2,700 cars and generated about 20,000 enquiries through the rural scheme that was started in April," Jagdish Khattar, managing director, Maruti said. Interestingly, of the cars sold under the scheme 50% were Alto while about 23% were M800, he added.

Central Bank fixes IPO band

Public sector bank Central Bank of India is entering the capital market with an initial public offering (IPO) of 8 crore equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process.

The price band for the issue is Rs 85 -102 /share and it will open on July 24 and close on July 27. After the issue, the government's shareholding in the bank will come down to 80.20%.

AIM beckons India Inc

London's Alternative Investment Market (AIM) beckons India Inc.

Budweiser now made in India

Crown Beers India, a joint venture between US-based Anheuser-Busch and Crown International, today announced that the first locally produced Budweiser in India is now available in South and West India in 330-ml (pint-size) and 650-ml bottles.

The company also launched Armstrong, a strong beer exclusive to India.

K P Singh on Gurgaon growth

Delhi-based DLF today listed at near 11% premium at Rs 582 as against the issue price of Rs 525. DLF had priced its initial public offer at Rs 525 a share, a discount of 4.5% to the higher end of the price band of Rs 500-550.

Billionaire KP Singh-promoted DLF will be using one third of the issue proceeds (nearly Rs 3,500 crore) to buy land for its upcoming projects, while the balance will be used in the development of these projects and to pay off some debts.

SBI's Super Circle

SBI launches new business model & Super Circle

Air India launches cargo ops

Civil aviation minister Praful Patel today flagged off Air-India's first dedicated frieghter aircraft to Europe.

"The first converted aircraft (passenger to cargo) that will be deployed on the Europe route (Mumbai/Bangalore/Damam/ Frankfurt/Damam/Mumbai) has begun operations from today. The freighter (Airbus A-310 aircraft) will make four trips a week via Bangalore and Chennai to Frankfurt and Paris," Vasudevan Thulasidas, chairman & managing director, Air-India, said.

Hexaware in risk mgmt tech

Hexaware Tech today announced it has entered into a joint venture agreement with Pemtrad International to launch Risk Technology International (RiskTech).

According to an official release issued by Hexaware Tech to the BSE today, the new entity will focus exclusively on offering a comprehensive suite of technology-intensive solutions in the domain of enterprise risk and compliance management, primarily for financial institutions worldwide.

BlackBerry Curve India launch

Hutch today announced the availability of BlackBerry Curve 8300 smartphone, the lightest smartphone in the world with a QWERTY keyboard. The handset enables users to access e-mails and instant messaging while it also includes a media player, browser and a 2.0 mega pixel camera. The BlackBerry Curve 8300 is the smartest handset in the market designed to bring to its users a new level of convenience and style, Harit Nagpal, director (marketing and new business development), Hutch said.

Ford launches new Endeavour

Ford India launched the all new Endeavour on Wednesday.

Now, web radio on mobiles

Telecom services provider Tata Teleservices today said it will launch Internet radio in its mobile handsets. There would be 41 radio channels, including BBC, Bloomberg, CNN and different genres of music in the handsets provided by the CDMA major, which operates its services under the brand name Tata Indicom.

Yes Bank, Reuters in e-trade

Yes Bank and Reuters India, announced that the bank will launch a new electronic FX trading service to corporates and institutions on the Reuters Trading for Foreign Exchange (RTFX) platform. Yes Bank is the first private sector bank in the country to go live on RTFX.

Keep time with Seiko India

Seiko Watch Corporation, today announced its foray into India by unveiling a range of its latest premium international watches under the Sportura, Premier and Spring Drive brand names.

The company will launch a total of 110 watch models in the price range of Rs 6700 to Rs 1,70,000. The range will feature a 'classy active' look and target the upwardly mobile and self assured Indian consumer in the age group of 25-40 years.

Mallya, Gopinath on synergy

Mallya takes 26% Deccan Aviation stake

Vijay Mallya has moved decisively towards controlling the largest share of the domestic aviation market.

His UB Holdings, the parent company of Kingfisher Airlines, is acquiring 26 per cent of Bangalore-based Deccan Aviations equity for close to Rs 550 crore, valuing it at Rs 2,200 crore.

BNP Paribas, Srei Infra in JV

BNP Paribas to infuse Rs775cr in JV with SREI

French company BNP Paribas Lease Group today announced Rs 775 crore investment in a joint venture company with SREI Infrastructure Finance for equipment finance in the country.

"BNP Paribas Lease Group will infuse Rs 775 crore in the company toward capital contribution," Hemant Kanoria, Vice-Chairman and Managing Director, SREI.

Air India Express set to soar

Air India Express, Alliance Air to combine

Air India's low-cost carrier, Air India Express, today inducted the seventh Boeing 737-800 aircraft to its fleet, which takes the airline's fleet size to 14.

V Thulasidas, CMD, Air-India, speaking on board the newly inducted aircraft said, Air India Express and Indian Airlines' low-cost arm Alliance Air will be combined into one entity, which will have operations both abroad as well as domestically.

Alembic, UCB in drug deal

Alembic in licensing deal with UCB

Alembic has entered into a licensing agreement with Belgium-based UCB for its drug delivery platform for anti-epileptic drug Keppra XR (Levetiracetam extended release tablets).

According to an official release issued by Alembic to the BSE today, under the terms of the agreement, it would receive milestone payments of $11 million and royalty on future worldwide net sales of Keppra XR.

Viacom, TV18 in 50:50 JV

Viacom, TV18 to air 50:50 JV Viacom-18

Viacom Inc, US and the TV18 Group today announced the creation of a new 50:50 joint venture operation christened Viacom-18.

According to an official release issued by TV18 Group firm Network 18 Fincap to the BSE today, the strategic alliance will include television, film and digital media content across brands to build a multi-platform entertainment company.