DSP Merrill Lynch Ltd said Caterpillar Commercial SA along with its holding company Caterpillar Inc offered to acquire up to 19,779, 914 shares, or 62.25% of the paid up equity share capital, of Hindustan Powerplus Ltd.
Markets ended flat amid a range bound trading session on Tuesday led by fast moving consumer goods shares.
On April 21, 2008, Satyam announced its plans to acquire the market research and customer analytics business unit from CAT for a total consideration of $60 million (approximately Rs 300 crore), comprising an initial payment of $10 million (Rs 50 crore), which Satyam paid to the seller on August 6, 2008, besides issuing a $50-million (Rs 250 crore) promissory note.
Indian Institute of Technology- Madras will create a centre of excellence to train off-highway design engineers, with financial assistance from a US company.
While many Americans view growing Chinese and Indian economies as a threat to their jobs, major US firms have reported a sharp rise in earnings, mainly due to their foreign operations.
Proposals of Principal Financial Group, South African Breweries, AB Electrolux and Caterpillar Inc were among the 52 foreign direct investment cases totalling Rs 321 crore (Rs 3.21 billion) approved by the government on Thursday.
US construction equipment major Caterpillar Inc plans to source products from India for its overseas markets as part of strategies to make the local subsidiary a global sourcing hub, a top company official said.
Daniel Carder said he's surprised to see such a hullabaloo now, because his team's findings were made public nearly a year and a half ago.
Apple said it sold 51.2 million iPhones in its second fiscal quarter, down from 61.2 million in the same quarter a year ago but above analysts' estimates of about 50 million devices.
US congressional leaders on trade and finance wrote to the US International Trade Commission calling for a second investigation into India's 'unfair' trade practices, detailing any changes under Modi.
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