Citibank is currently in discussions with Indian IT firms Tata Consultancy Services (TCS) and Wipro, among others, to sell some of its internal IT Top Indian outsourcing cos Nine trends for IT in 2009 Cities that are IT...
Eveready to acquire French co
Eveready Industries India (EIIL), the BM Khaitan Group flagship company, is buying out France’s rechargeable battery maker Uniross from CG Holding for e10 million (Rs 60 crore approx). This is EIIL’s first...
Datacom row ends as Nahata agrees to sell stake to Dhoots
Mahendra Nahata of Himachal Futuristic Communications (HFCL) has finally agreed to sell his 36% stake in telecom service provider Datacom Solutions to the Dhoots of the Videocon Group to end a year-long corporate battle...
Distressed M&A hurts return on equity: Study
Companies who bought distressed or insolvent rivals over the past quarter-century suffered lower returns on equity and underperformed buyers Top 10 Wealthiest CEOs 10 most admired cos World’s top 10 valuable...
SBI gears up for consolidation, awaits govt green signal
The Union Finance Minister, Mr Pranab Mukherjee’s accent on banking industry’s consolidation at a meeting with bankers last week will, in all likelihood, spur the State Bank of India to complete its...
Nomura agrees to buy 30.5% stake in LIC MF
Japanese financial services group Nomura has agreed to pick up a 30.5 per cent stake in LIC Mutual Fund for around Rs 227 crore. The deal values the Indian company at over Rs 700 crore. The Japanese firm plans to take...
IHCL acquires Hotel Sea Rock for Rs 680cr
Indian Hotels Company, which announced the acquisition of closed Sea Rock hotel at Bandra from ELEL for Rs 680 crore, said on Friday that it will set up a hospitality landmark at the site including a world-class...
Indian Hotel eyes higher Orient stake
Indian Hotels’ vice-chairman RK Krishna Kumar said his company would be happy to raise its stake in Orient-Express Hotels where it currently holds 9.7%. “The Tata group does not make hostile moves,” he stated at a press...
Indian Hotels to acquire Sea Rock for Rs 680 cr
Indian Hotels Company Ltd (IHCL), which runs the Taj Group of hotels, will acquire Sea Rock Hotel in Mumbai for Rs 680 crore. IHCL will pick up an 85 per cent stake in ELEL, the company which holds a long-term sub-lease...
Vedanta investing Rs 600 cr in Sesa Goa
Sesa Goa, which on Thursday announced it was buying the mining assets of the Dempo group for Rs 1,750 crore, will raise Rs 600 crore through a preferential allotment of shares to Vedanta Resources plc, its parent...
Gitanjali group in talks to pick up major stake in MobileNXT
Jewellery major Gitanjali group is in advanced talks to pick up a major stake in the Bangalore-based mobile retail chain, MobileNXT. Confirming this to BusinessLine, Mr Vijay Menon, Founder Director, MobileNXT, said...
Phillips Electronics gets ready with second buyback offer
Phillips Electronics India (formerly Philips India) got its second buyback offer approved by the majority shareholders at its 79th annual general meeting here on Friday. The first buy back offer after delisting could...
