Archive for September 8th, 2008
Posted by Yogesh on Monday, 8 September, 2008
MUMBAI, Sept 8 (Reuters) – Private equity firms including Kohlberg Kravis Roberts & Co (KKR) are eyeing BT Group’s the Economic Times said, citing unidentified sources. BT has put a price tag of more than $800 million on its stake valuing Tech Mahindra, 44.25 percent owned by India’s top utility vehicle maker Mahindra & Mahindra at nearly $3 billion, the newspaper said on Monday. Tech Mahindra’s current market value is $2.1 billion. KKR is preparing a potential bid while UK-based Apax Partners, America’s Texas Pacific Group and Carlyle and Singapore’s Temasek have also evinced interest, the paper said. Tech Mahindra officials could not be immediately reached for comment.
Source CNBC
Posted in Corporate News | Tagged: British Telecom, Tech Mahindra | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
AMSTERDAM, Sept 8 (Reuters) – Royal Philips Electronics NV :
* Philips further expands healthcare business in emerging markets by acquiring India-based Alpha X-Ray Technologies
* Philips says deal gives significant presence in the high-growth economy segment for cardiovascular X-Ray systems
Source CNBC
Posted in Corporate News | Tagged: Alpha X-Ray Technologies, Mergers Acquisitions, Philips | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
MUMBAI (Thomson Financial) – India’s Aban Offshore Ltd. said it has won a contract for the deployment of the new build jack-up rig Deep Driller 7 offshore Thailand, for a firm period of three months, extendable up to six months.
The estimated revenue from the contract is 792 million rupees ($18 million), the offshore rig company said. It added that the rig is likely to start mobilizing to the location during the second week of September.
Source CNBC
Posted in Corporate News | Tagged: Aban Offshore, Contract | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
MUMBAI (Thomson Financial) – RPG Group unit KEC International Ltd. said it has won two new orders worth 2.17 billion rupees from National Thermal Power Corp. (NTPC) and Power Grid Corp of India.
The power transmission company said in a filing to the Bombay Stock Exchange that with these two wins its order book now stands at about 47.50 billion rupees.
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Posted in Corporate News | Tagged: KEC International, orders | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
MUMBAI (Thomson Financial) – Indian commercial vehicle maker Ashok Leyland Ltd. (ALL) said its light commercial vehicles (LCV) joint venture with Nissan Motor Co Ltd. will invest about 40 billion rupees over 7-8 years, for its LCV and medium density vehicles (MDV) facilities in the southern Indian state of Tamil Nadu.
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Posted in Corporate News | Tagged: Ashok Leyland, Nissan, venture | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
MUMBAI (Thomson Financial) – Indian spot gold prices closed slightly higher on Monday, driven by leads from the international markets, with gains were capped on weak buying interest.
In London, gold jumped 2 percent before a rising dollar capped further advances, but a firm oil price supported precious metals.
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Posted in Commodities | Tagged: Gold, Silver | 1 Comment »
Posted by Yogesh on Monday, 8 September, 2008
NEW DELHI, Sept 8 – Indian state-run refiner MRPL has agreed its first sale of jet fuel since January last year, and a company source said exports would continue as they offered better margins than diesel.
“We go by market economics, so we have resumed exporting jet fuel … We will continue to export ATF,” said an MRPL official, who could not be named.
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Posted in Corporate News | Tagged: jet fuel, MRPL | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
NEW DELHI, Sept 8 – Naphtha exports by Indian state-run oil firm Hindustan Petroleum Corp Ltd will fall to a trickle in the next fiscal year as a part of the output will be used to make clean gasoline, a company source said.
Output of the fuel from Mumbai refinery will fall to 20,000 tonnes a month from 60,000 tonnes, while naphtha production from its Vizag unit will drop to 30,000 tonnes a month from 80,000 tonnes in the fiscal year that begins next April.
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Posted in Corporate News | Tagged: HPCL, Naptha | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
BHUBANESWAR, India, Sept 8 – National Aluminium Co Ltd’s alumina refinery in east India has resumed normal production after a four-day disruption caused by shortage of coal, a senior company official said on Monday.
P.K. Mahapatra, executive director of the Damanjodi refinery in the coastal state of Orissa, said the shutdown of its boiler plant on Thursday had resulted in a production los of 3,000 to 4,000 tonnes of alumina over four days.
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Posted in Corporate News | Tagged: NALCO | Leave a Comment »
Posted by Yogesh on Monday, 8 September, 2008
NEW DELHI, Sept 8 – India’s oil ministry will soon seek cabinet approval to charge higher diesel prices for industrial users and power plants to curb surging demand and rising subsidies, a top government official said on Monday.
The ministry is also seeking an additional 25 percent tax on large cars running on diesel, theofficial, who did not want to be named, told Reuters on Monday.
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Posted in Corporate News | Tagged: Diesel, Oil Ministry | Leave a Comment »
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