News Roundup: Glaxo Eyes Piramal, Dr Reddy’s Labs
Patni To Buy ERP, Insurance Companies In US, Europe - Patni Computer Systems has identified two acquisition targets - one each in the US and continental Europe. The company has around $300 million in cash reserve to fuel its buyout plans and plans to close the deals, at least one ......
IT industry seeks simpler tax rules, e-governance push
India’s $132-billion IT services industry is looking for simpler tax rules and hopes government initiatives such as Digital India will boost domestic demand at a time when muted global technology spends, increasing visa restrictions and pricing pressures have tempered its growth outlook for 2016-17.“Against the backdrop of rising protectionism, the ......
Religare Capital names Varun Lohchab MD & head of research
Religare Capital Markets Ltd, the investment banking arm of financial services group Religare Enterprises Ltd, has named Varun Lohchab its managing director and head of research.The company also appointed Sanjay Vaid as director and head of cash sales trading, it said in a statement. Both executives will be based at ......
India Inc’s overseas natural resources hunt flounders
The resource flow for M&A bankers seems to have shrunk to a trickle as Indian companies shelve their overseas hunt for natural assets in a tough economic environment.For the last two years, any investment bank worth its salt had its M&A team crisscrossing the globe, checking out mines in Latin ......
Styletag.com raises $7.6M from Embassy Group’s Virwani
Styletag.com, a flash sale venture for curated designer wear, has raised $7.6 million (Rs 50 crore) in angel funding from Jitu Virwani, chairman and managing director of real estate developer Embassy Group.The company will use the money raised to expand its range of private labels, acquire more designer brands and ......
Sensex falls on global worries, Cognizant’s muted guidance
Extending its losing run for a second straight day, the BSE Sensex slumped by 266.44 points to 24,020.98 on sustained foreign fund outflows, while IT stocks fell after Cognizant lowered revenue guidance for the year.The BSE Sensex after opening lower at 24,076.85 continued to slide on selling in blue-chips, forcing ......
DataWeave raises seed funding from Blume Ventures, TLabs, 5ideas, Rajan Anandan & others
Bangalore-based startup DataWeave Software Pvt Ltd has raised seed funding worth Rs 1.5 crore ($270,000) from Blume Ventures, TLabs (Times Internet), 5ideas Startup Superfuel, Meta Studio Advisors and a group of angel investors, namely Rajan Anandan, Pankaj Jain, Bharathram Thothadri, Krishna Mehra and Abhishek Gupta.This is the first disclosed investment from 5ideas Startup ......
3i Invests $61M In Supreme Infra’s BOT Road Projects
Private equity major 3i India is investing around $61 million (Rs 302 crore) for a minority stake in SIBHPL, a portfolio of BOT (build, operate and transfer) road projects of Supreme Infrastructure India Ltd (SIIL), a mid-size EPC contractor. The investment has been done through 3i’s $1.2 billion India Infrastructure ......
Altico Capital names Naina Lal Kidwai as non-executive director
Mumbai-based non-banking financial company (NBFC) Altico Capital India Pvt Ltd has appointed Naina Lal Kidwai as an independent non-executive director on its board, according to a press release.Kidwai retired as executive director on the board of HSBC Asia Pacific and chairperson of HSBC India last year, after a 13-year stint. She ......
News Roundup: Philips Leads Race To Buy Halonix From Actis
Philips Leads Race To Buy Halonix From Actis - Philips India is leading the race to acquire a controlling stake in lightings maker Halonix (formerly Phoenix Lamps) from private equity fund Actis for around Rs 300 crore. Actis is currently demerging the general lighting business of Halonix into a subsidiary ......
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