Markets To Trade Today; NSE Opens Down – SEBI Chief CB Bhave has said that the markets will open today. Forex, money, bond and commodity exchanges have already opened. The ongoing terror attacks in Mumbai will have an impact as shaky foreign institutional investors are expected to pull out money. But the long term growth story of India remains intact, and will continue to attract investors from around the globe.
Crompton Greaves Looking For Overseas Buys – The power solutions provider is looking to acquire firms in US or Europe as valuations have gone down owing to global financial crisis. Crompton is looking for acquisitions in power manufacturing and industrial systems space. The
company has completed several acquisition in Europe, the last one being acquisition of French transformer maker Sonomatra in June this year.
Soham Renewable In Talks With PE Funds – Bangalore-based Soham Renewable Energy India (SREIPL) is in talks with private equity funds ICICI Venture and FE Clean to raise Rs 130 crore. The funds are being raised to part-fund eight hydel power projects in Karnataka, which
will generate 85 mw of power. Soham raised $15 million from global hedge fund DE Shaw for one of its projects.
Jaguar and Land Rover To Lay Off 850 – Jaguar and Land Rover (JLR), he iconic motor brands which were acquired by the Tata Motors, is to cut 850 jobs of agency workers. The company will lay off 850 agency workers in West Midlands and Warwickshire. Earlier the company had announced layoff of 600 jobs through voluntary redundancy scheme.
Totem Infra To Raise Rs 150 Cr – Hyderabad-based Totem Infrastructure is planning to raise Rs 150 crore, and is in talks with three private equity funds. Last year Totem divested a 20% stake to raised to Singapore-based Aquarius Capital for Rs 30 crore. The company is currently executing cash contracts for highway, irrigation and power projects.
Medplus and Wockhardt Forge Partnership – MedPlus Healthcare Services, a community pharmacy chain would be to improve its cardiac care services and make them available at affordable prices. The partnership offers special privileges to Wockhardt patients from MedPlus and vice versa. the service will be launched on December 1, 2008 from Hyderabad nad will be initially available in Andhra Pradesh.
Heath Care Global To Invest Rs 200 Cr – Health Care Global, a cancer care provider, has planned an expansion in through an investment of around Rs 200 crore.The Oncology major will expand it operations to Bangladesh, Srilanka,
Middle east, Africa and USA. It will also increase the number of its centres in India to 20 from 15.
Max New York Life Announces Alliance With MIMO Finance: Private sector Insurance Firm max New York Life with Mimo finance, a non banking finance company for the distribution of its micro insurance product, Max Vijay. The product will be distributed by Mimo finance across 7 districts of Uttarakhand, Uttar Pradesh, Haryana and Himachal Pradesh. Max Vijay is a product specifically designed for the undeserved section of the society, comes with a minimum enrollment premium of Rs 1000, for a ten year tenure policy.
BHEL To Acquire Transmission Companies : Bharat Heavy Electricals Ltd. is aiming at doubling its turnover to Rs. 50,000 crore in the next five years by acquiring companies in the non conventional energy and transmission business. The company is also holding talks with two Japanese companies for technical and strategic partnership to foray into solar power. BHEL is also planning an integrated facility in West Bengal with an investment of about Rs. 3000 crore.