TCS shareholders approve merger with CMC
Tata Consultancy Services Ltd has won shareholder approval for its ongoing merger with unit CMC Ltd. TCS had announced the merger late last year. A court convened meeting of shareholders of TCS was...
View ArticlePVR buys DT Cinemas from DLF Utilities for Rs 500 cr
Debt-laden DLF group has sold its cinema chain, DT Cinemas, to the biggest operator in the space – PVR Ltd – for Rs 500 crore. In a statement, PVR said the acquisition of DT Cinemas would add 29...
View ArticleCairn Vedanta merger unlikely, LIC holds key – Edelweiss
The proposed merger between petroleum producer Cairn India and its parent Vedanta Plc is “likely to be unlikely”, Edelweiss Securities said. Raising the question of minority interest, Edelweiss said...
View ArticleBharti Airtel, Helios cancel Africa tower deal in Tanzania and Tchadu
Bharti Airtel said its deal with Helios Towers Africa to sell telecom towers in Tanzania and Tchad has fallen through. “…the agreements for sale of tower assets in Tanzania and Tchad between the...
View ArticleGVK Power & Infrastructure sells power plant to AP Transco
GVK Power & Infrastructure Ltd said it has sold its 217 MW (Phase 1) Power Plant situated at Jegurupadu Village, in Rajahmundry in Andhra Pradesh to AP Transco, the Andhra Pradesh power...
View ArticleJet Airways denies rumors of Etihad stake increase
Jet Airways, one of India’s top three airlines, denied rumors of its foreign partner Etihad Airways, approaching the government for permission to increase its stake in the Indian airline. “With...
View ArticleMphasis to sell much of domestic business to Hinduja Global
Mphasis, a leading IT services provider, said it has signed a definitive agreement to transfer a significant portion of its domestic business, subject to regulatory approvals, to Hinduja Global...
View ArticleJK Tyre denies report on acquiring Birla Tyres
JK Tyre has denied that it was in a transaction to acquire Birla Tyres from Kesoram Industries Ltd. Shares of Kesoram Industries was up 9% today on news that it would be able to sell the tyre-making...
View ArticleRussia’s Rosneft to invest in and supply crude to Essar Oil
Essar group has signed a non-binding Term Sheet with Russian oil and gas major Rosneft to explore the possibility of the Russian company investing in Essar oil with a share of up to 49% of equity, the...
View ArticleMphasis to transfer another 2,000 employees to Karvy Data Management
Two weeks after announcing that it would sell much of its India business to Hinduja Global Solutions, India-based outsourcing company Mphasis said it is transferring part of the remaining India...
View ArticleEssel Propack sells Packaging India Pvt Ltd at enterprise value of Rs 165 cr
Essel Propack Limited, a provider of plastic tubes catering to the FMCG & Pharma space, said it has sold its wholly owned subsidiary, Packaging India Pvt. Ltd. to Amcor Flexibles India Pvt. with...
View ArticleHCL Technologies buys assets of US-based Trygstad Technical Services
HCL Technologies Limited (HCL) said it has entered into a definitive agreement to acquire certain assets of privately held Trygstad Technical Services Inc. (“Trygstad”), a US based provider of IT...
View ArticleZee Entertainment acquires Orissa’s biggest GEC channel Sarthak TV
Zee Entertainment Enterprises Ltd agreed to acquire 100% equity stake in Sarthak Entertainment Pvt Ltd which operates ‘Sarthak TV’, the number 1 GEC in Odia language. “The acquisition shall be from...
View ArticleIdea Cellular says not aware of Bharti Airtel’s plan to take over towers
Idea Cellular said it was “not aware of” any move by Bharti Infratel, a unit of Bharti Airtel, to takeover telecom towers owned by Vodafone and Idea Cellular. The Business Standard yesterday reported...
View ArticleAcquisition to boost Cyient’s MRO, aftermarket capabilities
The acquisition of Singapore-based Global Services Engineering Asia from Pratt & Whitney (P&W) will strengthens the Indian IT provider’s aftermarket capabilities in the aerospace segment,...
View ArticleGovt partially allows sale of radio stations by TV Today to ENIL
TV Today Network Ltd said the government of India has allowed the sale of its FM radio stations in in Amritsar, Jodhpur, Patiala and Shimla, but rejected the sale of stations in Delhi, Mumbai and...
View ArticleIndusInd Bank completes acquisition of Diamond financing unit from RBS India
IndusInd Bank said it completed the acquisition of Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India. With this, the Bank said, loan...
View ArticlePramerica buys Deutsche Bank’s asset management business in India, Dewan...
Pramerica Asset Managers, the asset management business in India of Pramerica Investment Management, said it had agreed to buy Deutsche Bank’s India asset management business. Separately, Dewan Housing...
View ArticlePosco, Uttam Galva to set up JV in Maharashtra
Shree Uttam Steel and Power Ltd, a part of Uttam Galva Group and POSCO Korea, today signed a Memorandum of Agreement to set up an integrated steel manufacturing facility under a Joint Venture...
View ArticleSymphony Ltd buys Chinese manufacturer to enhance international play
World’s largest air cooler company, Symphony Limited has agreed to acquire Munters Keruilai Air Treatment Equipment (Guangdong), China, the Indian company said. “MKE is a market leading brand in China,...
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