| Log in

News Roundup: Sunil Mittal Meets Finance Minister

25 August, 2009

Reliance Money To Buy Another 5% in NMCE – Anil Ambani-run Reliance Money may acquire 5% more in the National Multi-Commodity Exchange of India (NMCE) to take its holding to 15% in line with the new guidelines. Last year, Reliance Money had acquired 10% in NMCE. The new FMC guidelines say that no single investor can hold more than 15%. (Business Standard)

Keshab Panda Quits Mahindra Satyam – Keshab Panda, a top executive in Mahindra Satyam, has quit. Panda was responsible for the key area of Business Development and Delivery Operations for the Americas. He was considered to be a Ramalinga Raju man, and Rakesh Soni (who is responsible for delivery of the same segments for the Americas), will take care of job handled by Panda. (HinduBusinessLine)

BHEL Looks To Invest Rs 1,500 crore in JVs – Bharat Electronics Ltd expects to invest Rs 1,000-1,500 crore in joint ventures to create critical technologies for national security over the next three years. The defence public sector company has been in talks for technology tie-ups with Israel’s Rafael Advanced Defense Systems Ltd and Elbit Systems Electro-optics (El-Op), Europe’s Selex Galileo and Thales, Boeing and the Hyderabad-based Astra Microwave. (HBL)

Sunil Mittal Meets Finance Minister – Bharti Airtel Chairman Sunil Mittal today met Finance Minister Pranab Mukherjee and is understood to have discussed proposed deal with South African firm MTN. This comes as Bharti Airtel and South Africa’s MTN last week extended their merger talks for the second time till September 30. Mittal also met Corporate Affairs Minister Salman Khurshid. (BS)

Reliance Money, Dubai International Securities Break Alliance – ADAG-promoted Reliance Money and Dubai International Securities (DIS) has come to an end with both the entities deciding to end the partnership mutually. Reliance Money had tied up with the Al Rostamani Group-promoted DIS in February 2008 to start broking services and distribute investment products among non-resident Indians in United Arab Emirates. (Economic Times)

Sistema To Go Public Next Year – Sistema Shyam TeleServices, which offers CDMA technology-based mobile services in India under the MTS brand, is looking at listing the company on local bourses next year. Sistema, one of the largest public diversified corporations in Russia and the CIS, holds a 74% stake in the telecom company.(ET)

Cinepolis Looks At Acquisitions – Mexico-based theatre operator Cinepolis is looking at acquisitions in India in order to reach its  500-screens target before its slated 2016 timeline. Indian market is dominated by PVR, Big Cinemas, Inox, Fame and Fun Cinemas. Cinepolis has started discussions with several national and regional operators. (ET)

 


Leave Your Comment
Bajaj Holdings Takes 12.8% In NMCE For Rs 25Cr

Bajaj Holdings Takes 12.8% In NMCE For Rs 25Cr

Madhav A Chanchani 7 years ago
National Commodity Exchange of India (NMCE), one of the oldest commodity...
Anil Ambani's Reliance Money To Pick Up 26% In Commex For $25 million

Anil Ambani's Reliance Money To Pick Up 26% In Commex For $25 million

Madhav A Chanchani 2 years ago
    Anil Ambani’s Reliance Money has entered into an agreement with...
News Roundup: Indiabulls Power Plans Rs 1,500 Crore IPO

News Roundup: Indiabulls Power Plans Rs 1,500 Crore IPO

TEAM VCC 8 years ago
      ArcelorMittal’s Rs 40,000 Crore Project Put on Hold...
No Comments

News Roundup: Sunil Mittal Meets Finance Minister

Powered by WordPress.com VIP