Sanraa Forms JV With US Firm - Sanraa Media, a media technology company, has formed a joint venture with US-based World Studio Group to float Sanraa-WSG Films Inc. The JV will have an initial capital of $10 million and focus on animation projects.The JV will be headquartered in Hollywood with affiliates in China and Eastern Europe and would specialise in family entertainment-based films, programmes and animation projects. The company has set a target of $50 million revenues in the first three years. (Business Standard)
Spice, Virgin Bid For MTNL 3G Deal - BK Modi-promoted Spice Group and British Virgin Mobile have bid for MTNL’s franchise deals to offer 3G services in Mumbai and Delhi. Virgin already has a franchise agreement in India with Tata Teleservices, while Spice sold its telecom services business to Idea last year. International players like AT&T and France Telecom were also expected to bid. (Economic Times)
Barista Expecting Profits Next Year - Barista Coffee Company, India's second-largest coffee chain after Cafe Coffee Day, is expecting to register first net profit next financial year. Currently the company is registering operating profit with a turnover of Rs 150 crore. Barista is also planning to invest Rs 40 crore through internal accruals for setting up 100 new outlets every year. (BS)
TCS To Hire 25,000 This Year- Tata Consultancy Services plans to hire 25,000 people globally this year, 90% of which will be India. Though significantly large when compared to the current recruitment numbers, the figure is 10,000 short of the number of people TCS hired last year. The company will need 25 lakh sqft of work space and is looking to expand to Tier-II cities. (ET)
Apollo Pharma Looks For Strategic Partner - The Apollo Hospitals group may consider taking in a strategic partner for its vast and growing pharmacy business. The business contributes 40% to the group revenue to the Rs 1,635-crore healthcare major. The group has 970 standalone pharmacies across the country and about 50 are attached to hospitals. (HindusBusinessLine)
