Singapore Telecommunications (SingTel) has increased its stake in Bharti Airtel, India's largest mobile service provider, to 32.15 per cent from 32.04 per cent.
As settlement in dollars has become difficult due to sanctions imposed against Iran, India and Iran will explore other currencies like the euro, yen and dirham to resolve the stalemate over payment for oil imports at their meeting later this week in Tehran.
A deal with Gamesa seen valuing firm at $3 billion.
The Tata Steel nominee on the board of Riversdale, Narendra Kumar Misra, abstained from voting on a resolution to announce and recommend the offer to shareholders.
Public relations companies are telling their top executives not to go beyond the limited mandate they have received from their clients, even as many agencies with a large public affairs business agree that access to government officials has become difficult in the wake of the Niira Radia tape scandal.
A battle between incumbent GSM and CDMA operators has broken out, with Marten Pieters, the managing director of Vodafone Essar, the country's second-largest telecom operator, lashing out at comments made by a competing operator, saying it was ridiculous to imply that incumbent GSM players like them were hoarding scarce spectrum.
The country's largest mobile service provider Bharti Airtel is all set to overhaul its look and come forth in a new avatar. The re-designed logo would be launched for Indian as well as overseas operations to bring synergy among the company's business ventures.
Tata DoCoMo, which became the first private operator to introduce 3G services, today announced an aggressive tariff plan that targets a substantial conversion of its 2G customers.
The Securities and Exchange Board of India (Sebi) has increased the application limit for retail investors to Rs 2 lakh, from Rs 1 lakh at present. The decision was taken at the regulator's board meeting today.
Infosys Technologies, India's second-largest IT services company, has revised upwards its hiring estimate for the current financial year to 40,000 up 11 per cent from the 36,000 projected earlier as the company ramps up capacity to capitalise on emerging opportunities.
Bharat Airways Private Limited (BAPL), a Bangalore-based aviation company, has started the first heli-taxi service in Kerala, connecting Kochi international airport with Sabarimala, a famous pilgrim centre.
The Reserve Bank of India on Tuesday allowed for-profit companies with large and widespread retail outlets to act as business correspondents. The move will both deepen and broaden financial inclusion. Non-banking finance companies, however, have been excluded from the list.
Some of the country's leading FMCG companies they include Nestle, Coca-Cola and Tata Coffee - are investing over Rs 1,800 crore (Rs 18 billion) in the next few months to expand capacity or for inorganic growth.
While the Sun management is confident of turning around Taro, industry observers say that historically, Indian drug firms have had mixed results in their attempts to integrate their foreign acquisitions with the parent entity.
Information technology services major Cognizant is at an advanced stage of negotiations to acquire Genpact, the business process outsourcing (BPO) giant.
According to lawyers familiar with the development, Premji is yet to reply to the notice. Subramanian neither responded to phone calls nor messages sent to him.
But MNCs like IBM, Accenture, CSC and HP likely to get affected more.
Kingfisher Airlines' debt restructuring package has received an in-principle nod from bankers. The package will be implemented within 120 days of receiving the Reserve Bank of India's (RBI) nod. Kingfisher, the second largest carrier in terms of market share, has debt of around Rs 6,000 crore across 12 lenders such as the State Bank of India, Bank of India and Vijaya Bank, among others.
Hero Honda, India's largest two-wheeler maker, could see a change in ownership as the Delhi-based Munjal family seeks to buy the stake held by partner Honda Motor Company of Japan in the joint venture. The Indian promoters are reportedly talking to private equity (PE) players to raise the money needed to buy the 26 per cent stake held by Honda Motor.
Deutsche Bank bid the lowest--which was promptly matched by five others--according to the sources. They said DB quoted 0.00000000001 per cent of the issue size as bankers' fee. That works out to 80 paise. The banks were apparently willing to waive the fee altogether, but what deterred them was that UBS was recently disqualified on technical grounds from the NTPC FPO as it had quoted nil fee.
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