General News
Satyam board mulls option for additional funding, may announce new CEO soon
Hyderabad, INDIA, January 23, 2009: Satyam Computer Services Limited (NYSE: SAY) today announced key decisions concluded at its Board meeting, held on 22nd and 23rd January, 2009 in Hyderabad.
This meeting, the third in thirteen days since its reconstitution, was chaired by Mr. Tarun Das. The meeting focused on issues that are a priority for ensuring [...]
TATA MOTORS LTD BOARD MEETING on Jan 30
A meeting of the Board of Directors of the Company will be held on Friday, January 30, 2009 to consider, inter alia, the Audited Results for the third quarter ended December 31, 2008 of the Accounting Year 2008-2009, pursuant to Clause 41 of the Listing Agreement
Satyam Raju admits fraud: quits the post
The chairman of Satyam Computer Services, India’s 4th-biggest software services exporter, resigned on Wednesday, saying the company’s profits had been inflated over recent years, sending Satyam shares plunging more than 70 percent.
Following are recent key events at Satyam.
December 16 – Satyam announces plan to buy two building firms part-owned by the outsourcer’s founders for $1.6 [...]
NYSE Euronext: The World’s Largest IPO in US history
Mumbai, 5 Jan 2009 – During the year gone by, NYSE Euronext markets attracted the largest IPO in the US history, with Visa (NYSE: V), raising $17.86 billion/€11.5 billion, and the second-largest IPO this year in Europe, where EDPR (NYSE Euronext: EDPR) raised $2.42 billion/€1.566 billion.
Other large offerings on NYSE Euronext markets in 2008 included [...]
Bajaj Family Settlement announcement
Mumbai, Date: January 1, 2009
The Bajaj Group which comprises of Rahul, Shekhar, Madhur and Niraj Bajaj and their families is pleased to announce that it has come to an amicable settlement with the Shishir Bajaj Group (SKB Group) under a Family Settlement Agreement on December 21, 2008. The petition filed by SKB Group with the [...]
Navneet Publications (India): Margins to remain under pressure
We had a conference call with the management of Navneet Publications India (Navneet) and the key takeaways from the same are as follows.
Publication business: Navneet’s core publication business, which registered a moderate growth of 4.3% year on year (yoy) in H1FY2009 (adversely affected by government’s initiative to provide free books in schools under Sarva Shiksha [...]
Independent Director at Satyam quits
In an another jolt to Satyam Computer Services Ltd Chairman B. Ramalinga Raju, one of the company’s independent directors Mangalam Srinivasan has resigned on Thursday. The company has confirmed the development on Friday by notifying the same to Bombay Stock Exchange.
Mangalam Srinivasan, a US based prominent personality is believed to be upset with the ongoing [...]
Sun Pharmaceutical Extends Tender Offer for Taro
Mumbai, India: December, 2008: Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUN PHARMA, BSE: 524715) today announced its subsidiary, Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida), has extended the Expiration Date of the Tender Offer for the purchase of all outstanding Ordinary Shares of Taro Pharmaceutical Industries Ltd. (Taro). The Offer will [...]
Shoppers Stop extends its option of acquiring 51% of Hypercity
Mumbai, December 20, 2008: The Company, Promoters of Hypercity Retail (India) Limited (Hypercity), has executed an Option Agreement; whereby the Company has an option to acquire upto 51% of the equity share capital of Hypercity from Promoters at any time prior to December 31, 2008. The Company has already acquired 19% stake in Hypercity in [...]
Chanda Kochhar is Managing Director & CEO of ICICI Bank from May 1, 2009
Mumbai, December 19, 2008: Mr. N. Vaghul, non-executive Chairman of the Board of Directors of ICICI Bank Limited (NYSE: IBN) would retire from the Board on completion of his current term on April 30, 2009. The Board has, subject to the approval of Reserve Bank of India (RBI) and the shareholders, decided to appoint Mr. [...]
