Times of IndiaPosted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – India’s S. Kumars Nationwide Ltd. said GIC Special Investments (GIC SI) will indirectly buy a 25.4 percent stake in S. Kumars’ luxury fabric unit unit Reid & Taylor (India) Ltd. for 9.0 billion rupees.
In a regulatory filing, the textile and apparel company said GIC SI will make the investment via its affiliate Indivest Pte Ltd. in return for a fresh issue of shares and warrants.
S. Kumars will hold the balance 74.6 percent in Reid & Taylor.
Source CNBC
Posted in Corporate News | Tagged: GIC, Investment, S. Kumars | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – India’s Tata Chemicals Ltd. said its full-year net profit rose to 9.64 billion rupees from 5.08 billion rupees last year.
In a regulatory filing, the company, which is part of the diversified Tata Group, said total revenues, including sales, grew to 65.89 billion rupees for the year to March 31 from 59.01 billion rupees last year.
The company declared a dividend of 9 rupees per share, up from 8 rupees per share last year.
Source CNBC
Posted in Financial Result | Tagged: Tata Chemicals Ltd | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – India’s Reliance Communications Ltd. (RCom) said its Reliance Globalcom unit has signed a strategic alliance pact with U.S.-based Stealth Communications to extend the world’s largest voice over internet protocol (VoIP) network.
The network, known as Voice Peering Fabric (VPF), is an electronic marketplace where companies buy and sell telephony services.
Posted in Corporate News | Tagged: Agreement, Reliance Communication | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – India’s GMR Infrastructure Ltd. said it has bought a 50 percent stake in Netherlands-based power producer InterGen N.V. for $1.1 billion from a fund owned by American International Group Inc (AIG).
In a regulatory filing, GMR said the transaction is expected to close in the third quarter of the calendar year 2008.
Posted in Corporate News | Tagged: GMR Infrastructure, Mergers Acquisitions | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – Indian engineering and support services company Shriram EPC Ltd. said Mauritius-based Frontline Strategy Ltd. will buy a 26 percent stake in its joint venture unit, Shriram SEPL Composites Pvt. Ltd.
No financial details were provided but according to company sources the new joint venture will have an initial capital of 100 million rupees. Shriram will Read the rest of this entry »
Posted in Corporate News | Tagged: Shriram EPC, venture | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
LONDON (Thomson Financial) – Ishaan Real Estate Plc. swung to full-year pretax loss due to the cost of investment advisory fees and provision for promote fees payable to the investment adviser.
However, it said it remains confident of continuing with the progress made on assets development and also the pre-letting of the projects already commenced within its portfolio.
Posted in Financial Result | Tagged: Ishaan Real Estate | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
YANGON, Myanmar – India agreed to provide Myanmar with US$84 million in loans and credits to build power transmission lines and an aluminum plant, state media said Wednesday.
Four agreements related to the loans were signed Tuesday during the visit to Myanmar by India’s Minister of State for Commerce and Power Shri Jairam Ramesh, the New Light of Myanmar newspaper said. Read the rest of this entry »
Posted in Indian Economy | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – India’s finance ministry said the objective of the rate increases undertaken by the Reserve Bank of India (RBI) were to “moderate and manage aggregate demand”.
Late on Tuesday, India’s central bank raised its repo rate, the rate at which it lends money to banks, to 8.50 percent with immediate effect and raised its Cash Reserve Ratio (CRR), which is the Read the rest of this entry »
Posted in Indian Economy | Tagged: Finance Ministry, Reserve Bank of India | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
MUMBAI (Thomson Financial) – India’s Ranbaxy Laboratories Ltd. said it received approval from the United States Food and Drug Administration to manufacture and market Valganciclovir HCI tablets, used in the treatment of cytomegalovirus (CMV) retinitis in patients with acquired immunodeficiency syndrome or AIDS, as well as for the prevention of CMV disease.
In a regulatory filing, the company said the total market sales for the tablets were $239 million last year.
Source CNBC
Posted in Corporate News | Tagged: FDA, Ranbaxy, Valganciclovir | Leave a Comment »
Posted by Yogesh on Wednesday, 25 June, 2008
NEW DELHI, June 24 Tata Steel, the world’s No.6 steel maker, should say on Thursday its quarterly profit before tax and one-offs rose by a third from the previous three months, boosted by its Anglo-Dutch unit, Corus. Analysts said Corus, which contributes the bulk of the group’s Read the rest of this entry »
Posted in Financial Result | Tagged: Tata Steel | Leave a Comment »
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