Business Fwire News - Page 16

Apax in talks to sell stake in Apollo Hospitals

Apax's holding in Apollo is currently valued at about $190 million as per Thursday's closing price.

Yes Bank gets retail equities broking licence

Yes Bank expects to launch operations of the securities broking business during fiscal 2013-14 that begins in April

Power Grid to invest Rs 1,327 cr in two projects

State-run Power Grid Corporation of India today said it would invest Rs 1,327.74 crore for strengthening two transmission systems in the Northern region.

Invesco may buy 49% in Religare asset mgmt unit for Rs 450 cr

While India's crowded mutual fund industry is facing headwinds in the near term because of new regulations and rising competition, some foreign asset managers such as Japan's Nippon Life Insurance Co are betting on long-term gains in India.

Daimler trucks available in India from 3 October

Making competition in the heavy commercial vehicles segment harder, German truck-maker Daimler today rolled out its first series of trucks under the brand name BharatBenz.

Why Harley-Davidson bets big on North-Eastern market

US-based cult bike maker Harley-Davidson is looking at North-Eastern states as a major market in coming years and expects double-digit sales growth from the region.

Labelling irregularities found in Ramdev's food products

The six sampled food products in which irregularities have been found are salt, mustard oil, honey, black pepper, pineapple jam and Arogya Besan.<br /><br />

ONGC Videsh sees lower oil, gas production this year

Oil and gas output from ONGC Videsh in 2012-13 will be less than last fiscal year's 8.7 million tonnes, its managing director said on Monday.

'Tata's charitable culture will continue even post Ratan'

Lord Kumar Bhattacharyya, the Warwick-based engineer and academic who was a member of the panel that chose Cyrus Mistry as the next chairman of the Tata group of companies, says that the "same charitable culture" will continue in the company.

International Coal Ventures looking to acquire coal assets in US

International Coal Ventures Ltd (ICVL), a consortium of five leading steel and mining PSUs, is looking to buy coking coal assets in the US, a senior company official said today.

Suzlon's REpower to supply wind turbines for Polish wind farms

Suzlon group subsidiary REpower Systems SE has signed a contract for delivery and construction of 22 wind turbines in Poland for the country's biggest wind farm project.

Suzlon subsidiary REpower wins windfarm project in Austria

Suzlon Group subsidiary REpower Systems said that it has signed a 25.6-MW contract with Windkraft Simonsfeld to supply eight turbines for its windfarm project in Austria.

M&M to export mini SUV Quanto to Europe and South Africa

Mahindra & Mahindra, India's biggest utility vehicle maker, plans to export Quanto, its first mini SUV, to Europe and South Africa, said Pravin Shah, chief executive of its automotive division.

Glenmark gets tentative USFDA nod for migraine tablets

Glenmark Pharmaceuticals said it has received tentative approval from the US health regulator for its generic Rizatriptan Benzoate tablets used for treating migraine attacks.

IDFC PE invests Rs 155 crore in Parag Milk Foods

IDFC Private Equity, a unit of Infrastructure Development Finance Co, has invested about 1.55 billion rupees in private dairy firm Parag Milk Foods, the companies said.

Apparel body AEPC wants retailers to source 50% from MSME

Days after the government relaxed FDI norms in the retail sector, the country's apex apparel body AEPC today said foreign retailers must be made to source up to 50 percent from MSMEs to protect domestic manufacturers.

TCS opens new solutions centre in Minneapolis

Country's largest software services firm Tata Consultancy Services today opened its Solutions Center in Minneapolis, US.

Reliance Cement enters market, to focus on Vidarbha

Reliance Cement Company, the cement subsidiary of Reliance Infrastructure, on Monday commercially launched its product and said it would initially focus its marketing efforts in the Vidarbha region

Business class travel likely to dip further in 2012: IATA

"After signs of faster growth in the first half of this year, the expansion in premium travel has now clearly flattened out," IATA's assessment of premium and economy travel in July has found.

RBI issues guidelines on treatment of banks' illiquid assets

RBI said that illiquid positions are generally disposed of at much lower price than the value reflected by banks in the books of accounts.

Wockhardt receives USFDA approval for anti-ulcer drug

Drug firm Wockhardt said it has received approval from American health regulator to market Lansoprazole, a drug used in treatment of ulcers, in the US market.

Blackstone ups stake over 6% in Financial Tech

Financial Technologies India said private equity firm Blackstone GPV Capital Partners, Mauritius, has increased its stake in the company to over 6 percent through open market transactions.

Reliance MF, IOB ink distribution pact

As per the agreement, IOB will sell Reliance MF products through its 2,689 branches.

Ranbaxy to set up plant in Malaysia with $40 mn investment

Drug major Ranbaxy Laboratories said it has received approval from Malaysian authorities to set up its second manufacturing plant in the country at an investment of $40 million (around Rs 220 crore).

Lupin gets USFDA approval for anti-depressent tablets

Drug firm Lupin said it has received American health regulator's approval to market Escitalopram tablets, used in treating depressive disorders, in the US market.

Strides Arcolab gets USFDA approval for its sterile facility

Pharmaceutical firm Strides Arcolab said its injectables unit Agila Specialties has received US Food and Drug Administration (USFDA) approval for its Polish sterile facility.

Karl Slym takes over as Tata Motors head ahead of schedule

Tata Motors today said Karl Slym, who was slated to take over as the company's Managing Director from October 1, has taken up the assignment ahead of schedule.

Now, Andhra Bank also slashes interest rates on retail loans

Andhra Bank has slashed its interest rates on retail loans, deputy general manager G Ravi Kumar said.

Women directors help in value addition: Moily

Gender balance board is more likely to pay attention and helps in controlling the risk, the minister said.