Your SlideShare is downloading. ×
0
Weekly news
18th October – 23rd October 2010
PE stars may team up to buy
18% in Hero Honda THREE leading US-based private equity (PE) firms
Carlyle, Kohlberg Kravis &...
Spice Mobility to spend 25
crore in marketing
 Spice Mobility on Sunday said it will launch nine
models and invest about ...
ONGC fuel subsidy bill up 15%
in second quarter
 State-owned Oil and Natural Gas Corporation's fuel subsidy bill will
inc...
Britannia enters baked snacks
market with Time Pass
 Britannia Industries entered the baked snacks
category with its bran...
IMIMobile acquires UK co WIN
for $26 m
 HYDERABAD-BASED IMIMobile,a company that provides
mobile technology,has just acqu...
China Q2 growth slowest in a
year
 CHINA said its economy expanded at the slowest pace in 12
months during the September ...
World Bank approves $13 m
for Mizoram road project
 The World Bank has approved $13 million to modernize the
road network...
Upcoming SlideShare
Loading in...5
×

Weekly news 18 23oct

253

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
253
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Transcript of "Weekly news 18 23oct"

  1. 1. Weekly news 18th October – 23rd October 2010
  2. 2. PE stars may team up to buy 18% in Hero Honda THREE leading US-based private equity (PE) firms Carlyle, Kohlberg Kravis & Roberts (KKR) and Warburg Pincusare likely to acquire an effective stake of 15-18 % in Hero Honda Motors, as part of a two-legged transaction that could see Japans Honda completely exit the country's largest motorcycle company, said two persons familiar with the development,  BM Munjal-owned Hero group is in advanced discussions with these three PE firms to sell 60-70 % stake in a special purpose vehicle (SPV) to fund the acquisition of Hondas 26% shareholding which at current market price is valued at around 9,300 crore in the joint venture company.  Munjals will emerge as the largest shareholder in Hero Honda with a combined direct and indirect holding of 34-36 % and the PE funds will own an indirect stake of up to 18%.Honda,on its part, will completely exit the joint venture and focus solely on its wholly owned company, Honda Motorcycles and Scooters India (HMSI). 18th October 2010
  3. 3. Spice Mobility to spend 25 crore in marketing  Spice Mobility on Sunday said it will launch nine models and invest about 25 crore in marketing and promotional activities during the festive season.  The new handsets, to be launched in the price range of 2,000-6,000,will include basic and qwerty keypad phones.  The company will also launch an Android-based tablet and handset, but has not disclosed the pricing yet. They are expecting good sales in the festive season (October-November ) and have offering at various price points. 18th October 2010
  4. 4. ONGC fuel subsidy bill up 15% in second quarter  State-owned Oil and Natural Gas Corporation's fuel subsidy bill will increase by nearly 15% to.3,019 crore in the second quarter this fiscal.  PSU fuel retailers Indian Oil Corporation Ltd, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) together lost about.11,295 crore in revenues on selling diesel, domestic LPG and kerosene below cost of production in July-September quarter.  The under recovery, upstream companies like ONGC, Oil India and Gail India will bear one-third. As per this subsidy sharing formula, ONGC will chip in with. 3,019 crore by way of discount on crude oil it sells to IOC,BPCL and HPCL. The subsidy outgo of ONGC will be.2,630 crore higher than in the second quarter of last fiscal.  OIL will pay.399 crore in subsidy during Q2 of this fiscal and GAIL.346 crore. Of the.3,765 crore upstream subsidy contribution, IOC will get.2,135 crore,HPCL.808 crore and BPCL.821 crore. 19th October 2010
  5. 5. Britannia enters baked snacks market with Time Pass  Britannia Industries entered the baked snacks category with its brand, Time Pass, in Bangalore on Tuesday.  While Britannia sells salted biscuits under its youth centric Time Pass brand, the new offering will directly compete with Parles Monaco smart chips, Frito Lays Aliva and Parle Agros Hippo.  The company will add about two variants every quarter and intends to roll out the brand nationally in a year.  The salted snacks category is estimated to be at Rs 6,000 crore. Our Bureau 20th October 2010
  6. 6. IMIMobile acquires UK co WIN for $26 m  HYDERABAD-BASED IMIMobile,a company that provides mobile technology,has just acquired WIN for $26 million,its first major overseas acquisition.UK-based WIN,a mobile content and services company,has revenues of around $60 million.  The combined entity will have a workforce of about 650,and provide managed mobile services to over 100 operators and business in 70 countries.  IMIMobile provides managed mobile services to customers like Star,Idea,Orange and MTN.WIN specialises in providing companies with customer management and communication solutions,and its client list includes names like T-Mobile,Orange,Cenrical AOL,Vodafone,and E- On.Based in Buckinghamshire,it also has offices in Greece and Kuala Lumpur. 21th October 2010
  7. 7. China Q2 growth slowest in a year  CHINA said its economy expanded at the slowest pace in 12 months during the September quarter as a World Bank report tipped it to slow down further in 2011,raising the possibility of India becoming the fastest-growing economic powerhouse next year.  The worlds second-largest economy grew 9.6% in the three months to September, just two days after the World Bank pared its growth forecast for the year ending December 2011 to 8.5%.  This is a tad below the banks growth projection of 8.6% for India during the same period. For the fiscal year 2011-12,the multilateral lender has forecast an 8.7% growth for India.  Faced with a 23-month-high inflation and growing pressure from the rest of the world to let its currency appreciate, China faces severe headwinds to growth.  With weak global growth and fading impact of the stimulus package, the projected growth to slow to 8.5% in 2011. 22nd October 2010
  8. 8. World Bank approves $13 m for Mizoram road project  The World Bank has approved $13 million to modernize the road network of North Indian state Mizoram.  The project will help widen and improve 180 km of state highways, and rehabilitate and maintain another 300 km.  It will also finance improvements in equipment and training for the state Public Works Department. Improvements in basic infrastructure including highways are critical to stimulate economic development.  With growth there has been an increase in demand for better infrastructure. Continued investments in improving Mizoram's road infrastructure will support the region's growth and service delivery goals. 23rd October 2010
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×