The street may have given thumbs-up to the better-than-expected financial health of Satyam Computer Services, but the troubles for the scam-hit firm are far from over. Apart from being locked in class-action lawsuits...
RInfra arrangement for demerger
The shareholders of Reliance Infrastructure Ltd (RInfra) on Tuesday approved the Scheme of Arrangement (Scheme) for demerger of the six divisions of the company. The demerger was carried according to the Sections 391 to...
Dorf Ketal acquires Sanmar unit
Dorf Ketal Chemicals has acquired Intec business from Sanmar Specialty Chemicals Ltd. Intec is leading player in organic titanates, poly vinyl formal and poly isocyanates, and has its manufacturing unit in Dadra. Dorf...
Sanlam open to hiking stake in Shriram Life
South African financial services firm Sanlam has said it is open to increasing its stake in Shriram Life Insurance, a joint venture with the Shriram Group. At present, the Sanlam Group holds 26 per cent stake in the...
NMDC to acquire majority stake in KIOCL
National Mineral Development Corporation (NMDC) will acquire a majority stake in the troubled KIOCL (formerly Kudremukh Iron Ore Co Ltd). Addressing his first press conference since becoming the Union Minister of Steel...
Indus Hospitality to make open offer for Sterling Holiday
Indus Hospitality Fund and India Discovery Fund have together announced an open offer for the shares of Sterling Holiday Resorts Ltd at Rs 36.25 a share, to acquire 22.86 per cent of the company’s existing equity...
RCom, Kribhco in joint venture
As part of its rural thrust, Reliance Communication has formed a joint venture with Krishak Bharti Cooperative Ltd (Kribhco) for offering value-added services to mobile users in villages. The joint venture, called...
NTT DoCoMo open to hiking stake in Tata Tele
Japanese mobile company NTT DoCoMo is open to picking up further stake in Tata Teleservices if it gets the right valuation. NTT DoCoMo recently picked up a 26 per cent stake in Tata Tele for about Rs 13,000 crore...
Pranab sees merit in bank consolidation for stability
The Finance Minister, Mr Pranab Mukherjee, has put his weight behind consolidation of banks, stating that this may be necessary to improve the state of competitiveness of Indian banks globally and also to reduce the...
Lanxess India to acquire assets of Gwalior Chem for Rs 536 cr
Specialty chemicals company Lanxess India Pvt Ltd is set to acquire the chemical businesses and some assets of Gwalior Chemical Industries Ltd for Rs 536 crore (€82.4 million), a cost that includes debt of Rs 156...
Pfizer acquires Vetnex business
Pfizer Animal Health has acquired Vetnex Animal Health Ltd, Ranbaxy’s animal health business that was later divested to ICICI Venture. The acquisition is expected to close by the end of the third quarter of the...
Huawei may bid for majority stake in ITI
Chinese telecom vendor Huawei may be one of the interested bidders for picking up stake in the factories owned by State-run Indian Telephone Industries Ltd. Huawei told Business Line that it was open to discussing...
