Public Relations
Market leader in utility vehicles in India, Mahindra & Mahindra (M&M), today said the company was open to alliance in the two-wheeler space, but nothing is on the anvil.
Move comes within months of acquiring Wockhardt hospitals.
Dabur"s promoter family member Gaurav Burman-led Atlas Acquisition today said it will acquire US-based staffing and employment services company Koosharem Corporation for $840 million (around Rs 3,900 crore) and merge with itself.
They have different names, but as many as 38 foreign venture capital investors (FVCIs) incorporated in Mauritius and registered with the Securities and Exchange Board of India (Sebi) have the same address and phone and fax numbers.
Production to begin in 12-15 months; second such venture.
Certain private universities have given affiliation to colleges and started off-campus centres beyond their territorial jurisdiction in violation of the University Grants Commission (UGC) norms and the direction of the Supreme Court.
Concerns over climate change are only second to profit amid the slowdown, but in India it is rising and over 54 per cent continue to be "very concerned" about global warming, a survey says.
India saw one of the worst terrorist attacks in November last year, when Mumbai was under siege for four days. Little under a year later, Indians perceive rising food prices as a bigger threat than terrorism.
State-run gas utility GAIL India has bought an LNG cargo for $6.65 per mmBtu, about $2 million more than the rate at which Petronet LNG imported a shipload just two days later.
The state government intends to develop 12 airstrips in order to enable them to handle small aircraft suitable for air charter services for tourism purposes.
The premium brand banks on them to boost market share. Till a few months back, Hindustan Unilever was banking on renowned Indian hair stylists to co-create Sunsilk, its premium shampoo brand. The fast-moving consumer goods major has now set its sights higher and has just requisitioned the services of seven global hair experts to give consumers salon-quality products.
Pureit and Acquasure are fighting hard for leadership in the entry-level market.
The Airports Authority of India (AAI) raised Rs 380 crore till September this year through short loans for funding various development projects but the borrowings will not lead to increase in passenger fares, the Rajya Sabha was informed today.
Following fare reduction by Jet Airways, national flag carrier Air India has cut fares by 20-46 per cent on certain flights on select domestic routes for travel up to September 18.
Axis Bank, India’s third-largest private sector bank, today entered into a strategic alliance with Motilal Oswal Securities (MOSL), one of India’s largest financial services intermediaries, to facilitate online trading for the bank’s 10 million customers.
The Sensex is now at 17,664, down 23 points. The NSE Nifty is at 5,268, down nine points.
Andhra Bank ended at Rs 109, stronger by 1.5%, on the BSE.
At least half a dozen flights of Jet Airways were cancelled from here today as a large number of pilots did not report to work in protest against sacking of two of their colleagues. Flights from Hyderabad to Chennai, Mumbai, Goa, Delhi and Rajahmundry were cancelled, a Jet Airlines spokesman said here today.
A fresh $1-billion (nearly 4,600-crore) loan from the World Bank under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), to be routed through the Union government, would be linked to cities adopting certain efficiency parameters.
Global financial services firm Citigroup is in advanced talks with regulators over its plans to raise more than $15 billion through an equity offering, a media report says.
DTH player Dish TV today unveiled a new brand logo and TV commercials featuring brand ambassador Shahrukh Khan as part of its Rs 30-crore brand restructuring plan.
The Mysore Mandakalli Airport will become operational by September 15 just before the Dasara, commencing on September 18, chief minister B S Yeddyurappa said in Mysore yesterday.
Friends,
The current outlook is poor and how the future will look is critically dependent upon government policy on spectrum and on allowing mergers and acquisitions.
Motilal Oswal Financial Services reported a 74 per cent year-on-year growth in net profit to Rs 47.2 crore for the quarter ended September 30, 2009.
Signals to look for before deciding when to enter, lie low or get out of stock markets.
In spite of the Reserve Bank of India (RBI) missive advising banks to reduce their exposure to mutual funds (MFs), banks pumped in an additional Rs 6,261 crore in these instruments in the week up to November 6. The total outstanding investment by banks in MFs stands at Rs 1,60,483 crore compared with Rs 36,781 crore on March 27.
Bharti Airtel, India"s number one cellular operator today received the nod from Bangladesh"s telecom regulator to purchase 70 per cent stake in Warid Telecom and to invest $300 million in the company.
Worries of rising food prices and a hike in interest rates weighed on the market sentiment. During the week, the BSE Sensex fell 400 points or 2.3 per cent to 16,720, while Nifty fell 130 points or 2.5 per cent to 4,988. However, mid-cap and small-cap stocks performed better, BSE Mid-Cap index fell by 1.6 per cent and Small-cap index declined by 1.04 per cent during the week.
US medical devices maker Boston Scientific Corp today said it will pay $1.73 billion to settle three patent disputes with healthcare firm Johnson & Johnson (J&J).
The Sensex has opened at 17,378 - up 33 points. The index is now up 126 points at 17,473.
Iron ore producer Sesa Goa, a part of mining major Vedanta Resources, today said it expects a 25 per cent growth in output this fiscal and plans to ramp up production around threefold to 50 million tonnes in next 2-3 years.
The stock touched a low of Rs 274 - down over 13% and finally ended at Rs 276 - down 12.5%. Over 5.59 million shares were traded on the BSE today.
Tatas is planning to introduce its small car Nano in Latin America in partnership with Italian auto maker Fiat.
Private sector Dhanalakshmi Bank has kickstarted a Mini Dairy Funding project in the backward Idukki district of Kerala and has plans to start a similar project in Tamil Nadu in two weeks time.
Even as the Telecom Regulatory Authority of India (Trai) has started investigating into the complaints of predatory pricing offered by some of the new operators, experts are divided over whether the current scenario actually resembles predatory pricing.
The Reserve Bank of India"s (RBI) decision to up commercial real estate property loan provision of banks may force the lenders to hike lending rates to the sector in the near term, said bankers.
The new rules on perks make it better to use the company car than to get usage reimbursed.
Hit by a drop in corporate tax revenues, direct tax collections rose marginally to Rs 20,822 crore in October, compared with Rs 19,708 crore in the corresponding month last year.
The stock gained 3.1 per cent to Rs 236.95 on reports that the company earned $4 million (approximately Rs 18 crore) by creating 200 of the 1,600-odd shots in James Cameron’s mega Hollywood movie Avatar. The film, with a reported budget of at least $300 million, is one of the most expensive films ever made.
India and Britain have a responsibility to work together for "long overdue structural reforms" of the global financial system in the wake of recent global downturn, President Pratibha Patil has said.
India Inc is expected to witness a salary hike of 8 per cent, one of the highest pay increases in the Asia Pacific region, in 2010 riding on the country"s improved economic performance, said a survey.
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan of Rs. 2.14 crore to the state government for implementation of a drinking water scheme at Lingdok Bazaar in East Sikkim, an official release said today.
Cadbury said the bid "fundamentally undervalues" the company.
The Department of Telecommunications (DoT) is hopeful that the defence ministry would release more spectrum for the 3G auction scheduled for next month.
A big controversy on procurement of Rs 35,000-crore worth of equipment by telecom behemoth BSNL is brewing, with the position taken by the two government nominees on the board threatening the expansion programme of the state-owned telecom major.
A US federal grand jury has indicted billionaire Raj Rajaratnam, founder of Galleon hedge fund, in a multi-million-dollar Wall Street insider-trading probe.
At the end of 2008, banks were staring at a slowing economy, souring retail loans and a tanking stock market. The focus, especially of private and foreign banks, was on containing losses rather than growing.
Falling revenues from both mobile as well as fixed line subscribers have forced state-run telecom major Mahanagar Telephone Nigam (MTNL), which operates in Delhi and Mumbai, to post a steep 77.5 per cent fall in net profit to Rs 20.5 crore for the second quarter ending September 30, against Rs 91.5 crore in the same quarter last year. In the same period, the total income was Rs 972 crore against Rs 1,231 crore in the same quarter last year, a 21 per cent decline.
Former President Bill Clinton did not carry any message on behalf of US Government to the North Korean regime, the Obama Administration clarified today.
Can the best automobile in the world drink diesel?
Trade talks resumed in World Trade Organization (WTO) headquarters at Geneva today, 10 days after 30 ministers broke the impasse on Doha negotiations, aimed at reaching a global pact for opening $32 trillion international commerce.
The Hang Seng has slipped 111 points to 22,516.
The Asian markets have advanced for the fourth day on reports that the Chinese factory output jumped to a 19-month high in October.
The Sensex after touching a low of 17,028, has recovered a bit and is now down 100 points at 17,080.
Manufacturing and marketing of portable gensets firm, Honda Siel Power Products today said it has appointed BSR & Company an Indian associate of KPMG, as statutory auditors of the company.
Toyota Motor said today that global sales of its hybrid vehicles had topped the two-million mark since their launch in 1997, led by the Prius — Japan"s top-selling car for the past four months.
The country"s largest two-wheeler maker Hero Honda today said it will upgrade all its existing models to meet Bharat Stage-III emission compliant norms by the end of this financial year.
Vehicle maker Eicher Motor will invest Rs 95 crore during this fiscal to expand its India business, and will also launch two heavy vehicles next year.
As the government wants to make accreditation mandatory for all institutions, the IITs have said they would like to be accredited by a statutory body and not by the National Board of Accreditation (NBA).
Kirtika Suneja / New Delhi November 13, 2009, 0:57 IST
Lancor Holdings, a realty major, has approved the further issue of securities up to a value of Rs 75 crore with domestic and international markets through various instruments. The decision ws taken in its board meeting yesterday.
Diamond and jewellery maker Goldiam International today said it will hold a meeting of its board of directors on October 30 consider the buy back of shares and financial results for the quarter ending September 30, 2009.
Construction firm Sobha Developers today said it has raised Rs 526.89 crore through qualified institutional placement (QIP) by allotting over 2.51 crore equity shares of Rs 10 each.
Kumbakonam-based City Union Bank (CUB) is planning to raise Rs 300 crore through the qualified institutional placement (QIP) route.
The government is considering a proposal to elevate some Navratna PSUs to Maharatna companies to allow them more freedom regarding investment, Bhaskar Chatterjee, secretary of the Union government"s department of public enterprises, today said.
In what could be termed as a victory for home grown FMCG player Emami, the Kolkata Civil Court has restrained Hindustan Unilever (HUL) from running a campaign using the word "Boro" in its advertisement for Vaseline.
Like many, Britain’s queen will also not get a pay hike, at least till elections next year. According to the Daily Express, British Prime Minister Gordon Brown has told the queen, she will have to wait until after the general elections to discuss her bid for a rise in her £7.9 million a year Civil List payment. Brown has decided not to fix a new 10-year deal covering the queen’s costs, fearing that the plea for a huge pay rise over the next 10 years could become an election issue, the report said.
With the luxury liquor segment in India growing by 30-40 per cent annually, the coming year could see a number of premium overseas brands entering into the domestic market.
The stock gained 5 per cent to close at a 52-week high of Rs 236.10 on reports that steel companies may increase prices next month to cash in on the demand surge in the domestic market and recovery in the global steel prices.
RBI is expected to increase CRR next month to signal a rate increase.
Sidhartha / Mumbai December 25, 2009, 0:43 IST
In a ruling that would bring cheers to thousands of customers, the National Consumer Commission has ruled that banks cannot unilaterally change its schemes as it might amount to "deficiency of service."
In a recent landmark judgement in Coca Cola India Pvt. Ltd. vs. Commissioner of Central Excise (2009-VIL-06-HC-BOM-ST), the Mumbai High Court has interpreted the relevant provisions of service tax law in a broad and inclusive manner in order to hold that expenses incurred by a company in relation to advertising and promoting a brand owned by it would be eligible for input tax credits as such services will qualify as ‘input services’. The decision has extended the present understanding of the service tax provisions to a significant extent and beneficially at that.
Leading home-loan lender HDFC plans to disburse Rs 3,000 crore over the next two-months under its special housing loan plan, offering an interest rate of 8.25 per cent, launched early this month.
India"s exports fell by 28 per cent in July, for the tenth month in a row, due to the ongoing global downturn, Commerce Secretary Rahul Khullar said today.
The power supply in the state was disrupted when around 20 armed Naxalites attacked Balimela hydro power station in south Orissa on Saturday night damaging its Valve House and thus affecting generation at the station.
The signs of global economic recovery have given new life to the Indian diamond processing industry, with export orders rising sharply by 20 per cent for execution on the occasion of Christmas and New Year.
State-run, Union Bank of India has revised its interest rates on foreign currency deposits with immediate effect.
The mystery surrounding Black Rose, the Mongolian ship which sank near Paradip port a couple of months back, appear to be unfolding gradually with the officials of the Criminal Investigation Department (CID) unearthing some vital facts in their probe.
The economy might be recovering, but the small and medium (SME) auto parts industry in Kolkata is still looking for the green shoots that would end their struggle to keep their businesses afloat.
Two-wheeler maker India Yamaha Motor today said its sales have grown by 2.12 per cent in November to 17,055 units, against 16,701 units in the same month last year.
Asian economies must handle their monetary and currency policies carefully to avoid unleashing a wave of potentially destabilising inflation, World Bank President Robert Zoellick said today. The US and European economies, which are barely starting to recover from the global meltdown, are less at risk, but in Asia, the massive liquidity flowing into regional markets could push asset prices up dangerously high, Zoellick said.
With fears of its flights being disrupted, Air India today warned its employees of wage and allowance cuts if they participated in the proposed two-hour "illegal" walkout this afternoon to protest delayed payment of salaries.
The first elections to the Greater Municipal Corporation of Hyderabad, formed by merging 12 surrounding municipalities in April 2007, ended on a peaceful note and polled 42 per cent. Counting will be held on November 26.
Technical Textiles sector is poised for growth with rise in salary levels in developing nations, particularly India, where the middle class population is expected to reach half a billion by 2030, an expert has said.
Indian Railways will be paying a higher dividend of Rs 5,479 crore during the current fiscal despite over Rs 3,000 crore dip in cash surplus on account of higher wage bill following implementation of the Sixth Pay Commission award.
Cigarette to hotel major ITC today said it is open to demerger of its business verticals into separate entities if needed as they grow in size.
In advanced discussions with many domestic lenders, including SBI, Axis Bank and IDFC for raising the debt.
The Life Insurance Corporation of India (LIC) today launched it"s second micro insurance product - "Jeevan Mangal" aimed at lower income groups, as well as those living in remote rural areas.
With the number of hit-and-run road accidents seeing a sharp rise last year, non-life insurance companies have seen a three-fold rise in claims settled under the Solatium Fund.
The Kerala High Court today held as legal, the sale of about 70 acres of land by public sector HMT to Mumbai based Blue Star Realtors,a subsidiary of the Housing Development Infrastructure Ltd (HDIL), to set up a Rs 4,000 crore cyber city project in Kochi.
Bank of Baroda (BoB) would open five new branches in Uganda, Trinidad and Malasiya during 2009-10, a top bank’s official said today.
Public sector lenders, Bank of Baroda (BOB), Indian Overseas Bank (IOB) and Andhra Bank have signed a joint venture agreement for setting up India BIA Bank (Malaysia) Bhd, a banking subsidiary in Malaysia.
- Traders expect resistance above 5,100 - Expiry effect in overbought market - Traders expect index to move below 5,000 in near future - Market may open on a steady note - Far from money spreads could pay - Nifty likely to see more corrections in near term
Mukesh Ambani and Anand Jain promoted Mumbai SEZ Ltd has suspended, for an indifinite period, its land acquisition for the MahaMumbai special economic zone (SEZ) in coastal Raigad. The company may drop the project altogether, as it was not able to acquire “a minimum of 1,000 hectares of contiguous land” as mandated by the SEZ Act.
State-owned BSNL today said it was negotiating hard with telecom equipment suppliers — Ericsson and Huawei — for its Rs 32,000 crore project, to expand GSM network by 93 million lines, but has kept open the option for re-inviting bids if the talks lead nowhere.
Virudhunagar, near Madurai in Tamil Nadu is to house one of the handloom clusters which was announced in the Union Budget 2009, said Union Minister for Textiles Dayanidhi Maran.
The transaction values XTO at $51.69 a share, 25 per cent higher than its last closing - MCL decision on coal transport to help land oustees - UBI likely to float IPO by early February - 25 suspended workers reinstated at Dunlop"s Sahaganj unit - Elder gets bolder - Ruia Group acquires 60% stake in Henniges Automotive Grefrath - "Declare oil palm a plantation crop"
Broking firm Kotak Institutional Equities today revised upwards the growth estimate of Indian economy at 7.5 per cent for the current fiscal on the back of increased economic activities and turnaround in industrial production growth.
M J Antony / New Delhi November 4, 2009, 0:59 IST
My father is a senior citizen and wants to invest around Rs 3 lakh in mutual funds. He wants to derive monthly returns from the investment, like through pension. Please suggest some funds that do not carry risk.
Less than a week after deflecting calls for his resignation, Timothy Geithner sold bonds on behalf of US taxpayers at the lowest yields on record in a show of confidence in the Treasury Secretary’s policies.
BofA: Bank of America chief executive Ken Lewis may have fouled things up by poorly executing on a series of takeovers during the financial crisis. But with BofA"s imminent payback of $45 billion of U.S. government assistance, unveiled Wednesday evening, his successor will be able to focus on reawakening the dormant banking monster — and can even get paid for the job.
General Electric Co (GE) is seeking to sell its security unit, which builds surveillance cameras and alarms, and may fetch about $2 billion, people aware of the details said.
While many of his fans, particularly in the US, appear disappointed, I, for one, believe that Mr Obama has had an extraordinarily successful first year as president.
Jamal Mecklai / New Delhi October 16, 2009, 0:14 IST
Rupee fell, reversing earlier gains, on speculation importers were buying foreign exchange to save on costs. It retreated from the highest in more than a year as importers such as Indian Oil Corp, the nation’s largest refiner, may have bought foreign exchange to pay for crude oil, the price of which has increased more than 68 per cent this year.
Swiss banking major Credit Suisse today reported 29.75 per cent growth in net income at 1.57 billion Swiss francs for the second quarter backed by strong results from its investment banking segment.
Power producer JSW Energy, which raised Rs 2,700 crore through initial share sale last month, will list its shares on the bourses tomorrow.
Media house DB Corp, which publishes Hindi daily Dainik Bhaskar, will list its equity shares on the bourses on January 6.
Barclays Global Retail Banking (GRB), India, the retail banking business of financial services provider Barclays, is evaluating possible targets for mergers and acquisitions to accelerate its growth in the country. It has been growing at two branches a year in the last three years, according to interim managing director and chief operating officer Ram Gopal.
Societe Generale SA, France’s second-largest bank by market value, said third-quarter earnings doubled as its investment-banking unit returned to profit.
For just about Rs 120 a month, you can now access the online version of Microsoft’s Office ’07. Thanks to ‘cloud computing’ company Nivio, it is now possible to rent MS Office for a fraction of its shelf cost and use it at the click of an icon without having the memory-guzzling software residing in your computer. And, it’s completely legal.
Business Standard / New Delhi October 28, 2009, 0:02 IST
ICBC-Standard Chartered: Industrial and Commercial Bank of China is already the world’s biggest bank – but it could be bigger and broader still. The time may have come to pursue a longstanding idea of a deal for emerging-markets lender Standard Chartered. While the combination was often rumoured before the financial crisis, in a more stable world it makes more sense than ever.
Tata Sons, the holding company of the Tata Group, sold close to 25 million shares in Tata Consultancy Services (TCS) in the 2008 financial year, raising Rs 2,500 crore to increase stakes in other group companies like Tata Steel, Indian Hotels, Tata Power, Tata Tea and Trent.
Following reports that the cigarettes-to-hospitality major, ITC, could make a hostile bid to increase its stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C Deveshwar today asserted that his company could even raise its stake up to 25 per cent in EIH.
Realty developer Godrej Properties will be listed on the Bombay Stock Exchange (BSE) on January 5.
The government should continue with the fiscal stimulus packages in the medium term to facilitate recovery in the economy hit by global economic meltdown, a top official with JSW Energy said.
Asserting that it has positive cash-flow position, debt-ridden Dubai World"s subsidiary DP World, which operates container terminals in the country, today said the debt crisis would have no impact on India operations.
Giving relief to individual taxpayers, the government today raised the income tax exemption limit by Rs 10,000 for general taxpayers, and by Rs 15,000 for senior citizens.
There are several ugly faces of fashion: anorexic models who survive on cigarettes and coffee is just one such instance. But, by far the ugliest thing that has happened to Indian fashion is the ongoing fight between the various “bodies”. Two bodies — FFI and the government mandated FDPC — have triumphantly announced that they have now merged and will work for the betterment of fashion. FDCI, the original fashion apex body, continues to stay aloof of this merger and may or may not also merge with FDPC.
Adani Power Rajasthan, a 100 per cent subsidiary of Adani Power (APL), has been awarded letter of intent (LoI) by Rajasthan Rajya Vidhyut Utpadan Nigam (RRVPNL) for purchase of upto 1,200 MW of power on long-term basis.
Average participation in the last 12 offers was just 2.39 times
The Insurance Regulatory and Development Authority (IRDA) today said it would come with initial public offer guidelines for the insurance sector within a fortnight to allow companies to raise funds from the capital market.
Great Offshore Ltd on Thursday said it had not received any offer from Bharati Shipyard and ABG Shipyard for its acquisition and also Sebi was yet to approve the acquisition.
Suzlon Energy announced last week the repayment of its entire outstanding acquisition loan facility of about $780 million. The repayment was funded through the sale of Suzlon’s stake in Hansen Transmissions International NV and a new five-year dollar denominated loan of $465 million from the State Bank of India. Effectively, its consolidated net debt is now lower by roughly $350 million or Rs 1,700 crore.
Power producer Jindal Power Ltd (JPL) is planning to raise about Rs 10,000 crore through an initial public offering.
The government today said no headway has been made regarding the disinvestment of state-run power equipment maker Bharat Heavy Electricals Ltd (BHEL).
TOP SEED Boris Gelfand edged Ruslan Ponomariov to take the World Cup and a place in the next Candidates. Gelfand held his nerve after the four normal games were drawn without much excitement. Gelfand won the second rapid tiebreaker and lost the fourth. Then, he won the second blitz, lost the third and finally won the fourth and last blitz game.
Aminah Sheikh / Mumbai December 17, 2009, 0:19 IST
Business Standard / New Delhi November 11, 2009, 0:19 IST
Tech Mahindra’s equity infusion into Mahindra Satyam should comfortably bankroll the pay-off.
Satyam Computer Services Ltd (SCSL) founder, B Ramalinga Raju, his brothers and their spouses have acquired 1,065 properties with a registered value of Rs 350 crore.
Less than a year after joining Tata Capital as its private equity (PE) venture head, Shailendra Bhandari is quitting.
Acting chief Vasudevan caught taking Rs 7 lakh.
New Delhi, Oct 19 (PTI) The Company Law Board today dismissed a petition challenging the appointment of Harsh Vardhan Lodha, son of late R S Lodha, on board of Birla Corporation.
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
The recovering IPO market is set to breathe life into pre-IPO placements, which were virtually dead for the past one-and-a-half years. Sources said a number of companies slated to hit markets soon were scouting for strategic investors to benchmark their public issues.
The country"s second-largest realty firm, Unitech, is likely to raise $200 million (nearly Rs 1,000 crore) within the next three months by selling stake in its affordable housing projects to private equity players.
Unitech Ltd, the country’s second-largest property developer, reported a decline of 22 per cent in its consolidated net profit for the quarter ended March 31 to Rs 279.7 crore, compared with Rs 360.2 crore for the corresponding period last year. Net profit for the full year 2008-09 also fell 28 per cent at Rs 1,197.7 crore, compared with Rs 1,661.9 crore for the corresponding period last year. Revenue for the year came down 23 per cent, to Rs 3315.6 crore, as compared with Rs 4,280.1 crore for the corresponding period last year.
Leading tour and travel operator Cox and Kings today said it has fixed the price band for initial public offer (IPO) between Rs 316 and Rs 330 per share.
A couple of real estate initial public offers (IPOs) may falter from around 15 lined up over the next few months if the issues are not reasonably priced, a realty consultant said.
Public sector hydropower producer Satluj Jal Vidyut Nigam (SJVN) today said its proposed initial public offer is likely to come in the next fiscal and the company is in the process of appointing independent directors, a prerequisite for firms planning to hit the market.
With profit-making not being the sole motive of public units, caution needs to be exercised while investing in their IPOs.
Sunil Jain / New Delhi November 17, 2009, 0:41 IST
Pantaloon Retail, the country’s largest listed retailer, was likely to open its qualified institutional placement (QIP) issue from Friday, sources said. The company plans to raise anywhere between Rs 300 crore to Rs 400 crore from the issue.
Logistic solutions provider Aqua Logistics is aiming to raise up to Rs 150 crore through its proposed initial public offer and has already filed draft papers with the market regulator Securities and Exchange Board of India (Sebi) for this purpose.
The budding corporate managers need to tap the huge potential offered by the retail sector which is the second largest employer in the country after agriculture and the retailers need to imbibe a work culture driven by productive performance.