The Rs 51 per GB data versus industry norm of Rs 250-plus comes with the caveat of an upfront payment of Rs 1,498 for a year
The government recently allowed the foreign carriers to have a 74 per cent stake in Indian cargo carriers. A total of 49 per cent FDI was earlier allowed in the cargo sector, but no investment by a foreign airline was permitted.
Information technology services provider HCL Technologies is close to clinching a $1 billion (about Rs 3,950 crore) outsourcing contract from a European telecommunications company.
Merged entity to be named Kingfisher Airlines.
Close on the heels of the alleged money laundering by farm owner Hasan Ali Khan through Switzerland-based bank UBS, Europe's biggest bank by assets, another Swiss bank, Credit Suisse, has come under scrutiny of the Enforcement Directorate (ED), which investigates foreign exchange violations.
Liquor companies are set to raise prices, thanks to the hike in the cost of molasses, a by-product of sugar used to make potable alcohol. "Alcohol prices may rise as much as 20 per cent due to lower molasses production," said Abhishek Khaitan, managing director, Radico Khaitan, the country's second largest liquor producer.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
i-flex Solutions Ltd said UBS Warburg, an investment banking and securities firm implemented a cash, current accounting and payment system around Flexcube, the banking application suite from i-flex.
Retail is big in India today. Liberalisation of economy in the 90s and the entry of large players has brought the retail industry into spotlight. Big players and national retail chains are changing the rules of the game today and organised retail, though still in an embryonic stage, has huge potential.
STAR India, a wholly owned subsidiary of STAR Hong Kong, is exploring the possibilities of getting into the print media business in India. Last week, top STAR executives including STAR Hong Kong CEO Paul Aiello, STAR India CEO Uday Shankar and COO Jagdish Kumar were in Bangalore for meetings with possible joint venture partners for the print foray. The company is said to be in talks with Vijay Mallya's UB Group.
Deccan Aviation Ltd, in which Vijay Mallya's UB group has picked up 46 per cent stake, may hive off its aviation chartering business into a separate entity.
The luxury retail market, which is currently in its nascent stage was roughly estimated to be around Rs 1,500 crore (Rs 15 billion) and expected to grow at 20 per cent in next five years. The booming stock market and the recent news that India's leading industrialist, Mukesh Ambani, had even overtaken Bill Gates, to become the richest person in the world, is an indication that the country was ready for that ultimate 'haute couture' experience.
After strong statements to the contrary, UB Group chairman Vijay Mallya on Tuesday said that he was considering the merger of Kingfisher Airlines with budget carrier Simplifly Deccan (earlier Air Deccan), in which the former bought a 26 per cent stake in June. Mallya said Kingfisher had asked consulting firm Accenture to study the integration of the two airlines, including the possibility of a merger.
Kingfisher Airlines, owned by liquor baron Vijay Mallya, has run up a debt of Rs 4,000 crore. The airline, which is merging with Deccan Aviation, is understood to have a top line of around Rs 3,000 crore and is expected to make losses of Rs 900 crore on a yearly basis. This is in addition to the losses of around Rs 650 crore suffered by Deccan Aviation.
Starting with a minuscule 0.07 per cent share of the market, Kingfisher soared to 7.7 per cent after 12 months and 10.6 per cent in April this year.
UB Group Chairman Vijay Mallya, who inherited an empire of diverse businesses at age 27, is now trying hard to show that he can be a pragmatic king of bad times, too.That explains Mallya's move to hawk a part of his family silver at a time when the combined debt of his six listed companies has touched a whopping Rs 14,231 crore, as on December 2008. The debt is now more than the group's market cap.
To help UB raise above half the buyout cost of Rs 4,620 cr.
Air Deccan, which was forced to sell 26 per cent to Kingfisher Airlines chairman Vijay Mallya's UB Holdings to keep its head above water a few months ago, is likely to break even before Kingfisher.
Bharti may look at gaining market share pre-merger and benefit from a lower capex intensity
Smaller enterprises who are already fighting a losing battle on various fronts will see credit tightening.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
Mallya recently acquired 26 percent stake in the country's largest budget airline, Air Deccan.
Earlier this year, Mallya's UB Group had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore (Rs 5.5 billion). The Group has now scaled up its stake in the budget airline to 46 per cent by buying shares in an open offer.
The Indian cable and satellite universe is already packed and in the coming months it will only get further crowded. Over the next 12 months, another 100 channels will be added to the existing 230 and according to industry estimates, by 2009 a staggering 700 channels could be beamed into Indian homes.
Vijay Mallya's United Breweries has held a vice-like grip over the Indian beer market with the Kingfisher, Kalyani and Sandpiper brands. With 137 million cases (12 bottles each), it has a 45 per cent market share. But now multinationals are closing in on UB.
Encouraged by the buzz created among the consumers by the Black Dog 12-year-old deluxe, the company has now decided to launch the 8-year-old centenary variant of the brand. Despite a tagline reading "Proudly old-fashioned since 1883", it has tried to make a connection with the younger lot. With the existing restrictions on liquor advertising, USL has promoted the brand by having strong on-trade presence through exclusive tie-ups with retailers.
Having dominated the summer placement scene at IIMs, companies like McKinsey, Boston Consultancy Group and UBS showed up for the first time for placements at IIT Bombay.
Infrastructure Development Finance Company has bagged Standard Chartered's asset management business in India for a total consideration of $205 million (around Rs 820 crore) in an all-cash deal. This deal, like the ill-fated UBS' bid last year, however, does not include StanChart's mutual fund distribution business, which the London-based bank will continue to pursue in India.
Even as 59 Rajya Sabha seats will be up for re-election in April, at least two industrialists are likely to get re-elected for another six years -- Vijay Mallya and Rajkumar Dhoot.
Earlier this year, Kingfisher Airlines had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore (Rs 5.5 billion). The company also made an open offer for another 20 per cent stake in Deccan Aviation. The open offer was oversubscribed. It received bids for 35 million equity shares against the issue size of 27 million shares.
Besides Surat, which will also be the world's fastest growing city during 2019-35, the other nine cities are Agra, Bengaluru Hyderabad, Nagpur, Tiruppur, Rajkot, Tiruchirappalli, Chennai and Vijayawada.
Stakeholders' Empowerment Services (SES) has advised Diageo to renege on its deal with United Spirits (USL) chairman Vijay Mallya.
Standard Chartered Bank is expected to seal the deal of its Mutual Fund business in the near future.
With their net debt estimated at Rs 1.15 trillion, the merged entity will not be in much of a position to dole out freebies, says Romita Majumdar.
Even if you assume a higher return fare of Rs 40,000, the yield will still be lower than the costs.
The judge said the assets of the respondent company cannot be left under the control of UBHL and could be handed over to official liquidator to achieve the winding up process s per the law.
A star-studded black tie event hosted by Parmeshwar Godrej in honour of newlyweds Elizabeth Hurley and Arun Nayar saw the who's who of the city's party circuit.
Continuing with his acquisition juggernaut on foreign shores, liquor baron Vijay Mallya of United Breweries Group has now set his sights on New Zealand based company Independent Liquor Ltd.
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