Adani Ports and SEZ’s logistics subsidiary is in final stages to acquire Snowman Logistics, as per the direct sources with the knowledge of the development told CNBC-TV18. Gateway Distriparks, the parent company of Snowman Logistics, is pursuing to divest its majority stake in the loss-making firm to arrange more funds and reduce debt, said the […]
IT services firm Tech Mahindra Limited (Tech M) has acquired the New York-based digital content and production agency BORN Group for $ 95 million . The acquisition will help boost the electronic and mobile commerce sector globally and provide an enhanced user experience to Tech Mahindra’s customers globally.
Everstone-backed Burger King India to file IPO prospectus soon. Burger King’s India unit looks to raise 4 billion rupees in Initial Public Offering. Fast-food major Burger King India is looking to go public next year and as per media reports the company plans to file a document for an IPO this week with the SEBI.
Ajay Singh reveals plans for cargo arm SpiceXpress IPO by 2020. The one-year-old cargo division, known as SpiceXpress, could be listed on a stock exchange within 12 months. Indian budget carrier SpiceJetNSE 0.00 per cent plans to sell shares in its logistics business in an initial public offering, as the rise of e-commerce drives demand […]
French petroleum company Total has now given a clear indication of playing a big role in India’s petroleum sector by buying a stake in Adani Gas. The company has entered into an agreement to buy a 37.4 percent stake in Adani Gas. The company will invest around Rs 5,700 crore for this equity. The total […]
Reliance Jio has gone back on its 2016 promise to keep voice calls free. India’s only profitable telcom companies has started charging 6 paise per minute for calls to rival networks, though it will compensate users with additional data. Jio said it was “compelled” to take the step following the telecom regulator’s decision to review […]
National Thermal Power Corporation Ltd (NTPC Limited), India’s Largest Power Utility, is planning to build a large solar power park in the western part of the country. The company expects to build a 5 GW solar power park in the Kutch area of Gujarat. The total investment of the project is about 2.8 billion US […]
Domestic auto company Mahindra & Mahindra (M & M) recently announced in a press release about the acquisition of majority stake in Ford Motor Company’s wholly-owned entity. This acquisition will give Mahindra control over Ford’s automotive business in India. The new unit will develop the market in India and sell Ford brand vehicles. The joint […]
BPCL at the end of market close on September 27 had a market capitalization of about Rs 1.02 lakh crore and even a 26 per cent stake sale at this valuation would fetch the government Rs 26,500 crore plus a control-and-fuel-market-entry premium ranging anywhere between Rs 5,000 crore to Rs 10,000 crore, officials said.
Sharekhan, the retail broking arm of BNP Paribas, has asked over 400 employees to quit the leave and the company, said people familiar with the development. A shift to online broking model and shrinking revenues have prompted the brokerage to cut staff cost, they said.
ICICI Bank said on Monday that it would open 450 new branches in the current financial year to expand its retail network. Of these, 320 branches have been made operational for customers, while 130 branches will be opened soon.
Indian multiplexes won’t be hit by telecom Reliance’s day-and-date film service ‘FDFS’. “Besides pricing, content is the ultimate crowd puller, and good content-oriented films have drawn massive audiences at multiplexes.”
Tata Group had acquired JLR from Ford in 2008 for $2.3 billion. The Indian salt-to-software conglomerate has been planning and eastablishing strategic options for JLR, including a potential stake sale, people familiar with the matter have said. Tata Group has initially denied the rumours.
