Business Blogs

StanChart IL&FS Asia Infra Fund Invests Rs 130 Cr In ITNL

admin — Thu, 04 Dec 2008 21:00:16 -0500

Standard Chartered IL&FS Asia Infrastructure Growth Fund is making its maiden India investment. It is picking up a 5% stake in IL&FS Transportation Networks (ITNL) for Rs 130 crore, valuing the firm at Rs 2,600 crore ($520 million). A subsidiary of IL&FS, ITNL is into transport infrastructure services and construction projects.

Greater transparency at SEBI

admin — Thu, 04 Dec 2008 14:06:00 -0500

I have often written about the gaps in transparency at RBI. Yesterday, the SEBI board took a major step forward in improving their transparency. Their press release says:

CashURdrive Set To Get Rs 2.5 Crore Funding

admin — Thu, 04 Dec 2008 12:08:39 -0500

The firm expects a monthly turnover of Rs. 84,00,000 by April 2009 by covering 10% of the total market share.

TPG India Gets Govt's Nod For Rs 805 Cr Investment Into Shriram Retail

admin — Thu, 04 Dec 2008 08:31:44 -0500

Mauritian private equity firm TPG India Investment today got government approval to invest up to Rs 805.61 crore in South India-based Shriram Group’s retail finance venture — Shriram Retail Holdings.

TPG India Gets Govt's Nod For Rs 805 Cr Investment Into Shriram Retail

admin — Thu, 04 Dec 2008 08:22:11 -0500

Mauritian private equity firm TPG India gets government approval to invest up to Rs 805.61 crore in South India-based Shriram Group’s retail finance venture — Shriram Retail Holdings.

Indian Markets Thursday Wrap-Up: Lower Inflation News Cheers the Markets

admin — Thu, 04 Dec 2008 07:22:31 -0500

Equitymaster submits: Buying activity in the index heavyweights continued unabated in the final trading hour causing the indices to close well above the dotted line. While realty and metal stocks garnered investors’ interest, select stocks in the consumer durable, software and pharma sectors lost favour.

Two Legal Viewpoints On The Vodafone Tax Case

admin — Thu, 04 Dec 2008 06:50:03 -0500

In a significant verdict, that may result in $2 billion (Rs 10,000 crore) flowing into the Income Tax Department, the Bombay High Court on Wednesday dismissed a petition by the Britain-based global mobile giant Vodafone, challenging a $1.7-billion tax notice served on the company related with the acquisition of majority stake in an Indian company last year for $11.1 billion.

Mauj Takes FHM Mobile

admin — Thu, 04 Dec 2008 06:15:21 -0500

Mauj Mobile, the mobile VAS company from the People Group, has tied up with FHM (For Him Magazine), to make

Standard Chartered Private Equity Ups Its Stake In M&M Fin Services

admin — Thu, 04 Dec 2008 06:05:04 -0500

Standard Chartered Private Equity(SCPE) has hiked its equity stake in Mahindra & Mahindra Financial Services by 2%. The private equity firm bought shares from the open market to take its holding to 7.4%.

Vodafone Challenges $2 Billion Tax Bill On Hutch Essar Purchase

admin — Thu, 04 Dec 2008 05:38:01 -0500

Vodafone (NYSE: VOD) has suffered a setback in its plans to expand its business in India after the Mumbai High Court threw out the company’s challenge against a $2 billion capital gains tax bill for its