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News of the month november till 22nd

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Hello Friends, this is my news compilation for the Month till November 22nd.

Hello Friends, this is my news compilation for the Month till November 22nd.

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  • 1. NEWS OF THE MONTH NOVEMBER TILL 22nd
    Compiled By:
    Soumya Deb Barma
    MBA(2009-2011)
    PCTE, Ludhiana.
  • 2. RCOM set to raise $500m Abroad
    Flag Telecom, a part of its international network arm Reliance Globalcom, could raise at least $500 million by selling bonds to European investors, said a number of investment banking sources.
    RCOM has appointed Deutsche Bank’s investment banking arm to spearhead the latest fund-raising effort. If successful, the funds will be used to meet debt obligations, including $200 million worth of convertible bonds held by overseas investors, due May 2011
  • 3. News Continued…
    The company has another $900 million of foreign currency convertible bonds, or FCCBs, maturing February 2012. The company has a current net outstanding debt—which rose over 700 crore between July and September this year—exceeding 30,000 crore. Failed attempts to sell assets 
    The company reported a 40% plunge in profits in the second quarter of this fiscal to Rs 446 crore—its fifth-straight quarter of profit fall.
    Reliance Communications acquired Flag Telecom, the undersea cable business, in 2003 for about $207 million. After a recent restructuring, the company’s Indian enterprise business has been added toRelianceGlobalcom
  • 4. Dabur India chairman AnandBurman said…
    “Namaste’s hair straightening lotions and hair oils are hugely popular with African Americans in the US and sell well in Africa and Nigeria too,”
    “The acquisition of HobiKozmetick and Namaste Laboratories along with our existing businesses overseas will contribute nearly 25% to Dabur’s consolidated revenue in 2010-11,” Dabur India group director PD Narang said. Dabur recorded a revenue of Rs 3,400 crore in 2009-10 of which 20% came from sales in international markets.
  • 5. Axis wins Enam, buys its best for 2,067 cr
    Enam exits with handsome gains while deal will pay off for Axis in long term given strengths & profitability of investment banking & institutional broking units Snaps Up Investment Banking, Institutional & Retail Broking Our Bureau MUMBAI 
    Axis, led by CEO Shikha Sharma, a former ICICI Bank director, will acquire Enam Securities’ key businesses such as investment banking, institutional and retail broking, and distribution of financial products in an allstock deal worth 2,067 crore.
  • 6. News Continued…
    Enam is expected to have a profit after tax of Rs 100 crore for the full year. So, 2,000-odd crore for the full stake looks all right,” For the seven months between April 1 and October 20, the Enam arm recorded a pre-tax profit of 77 crore against a turnover of 182 crore. 
    “With Axis bank’s distribution platform of almost 1,100 branches and Enam’s retail network, the combined entity will have an opportunity to build a dominant retail franchise as well.”
  • 7. MERV working to electrify M&M
    Mahindra Reva’s Electric Vehicles(MERV) world largest maker of Electric technologies to fit into Mahindra & Mahindra other products like Scorpio etc.
    M & M has acquired 55.2% stake in Reva Electric vehicles in May this year.
    It has already tested the prototype of its commercial GIO with electricity driven technology & already sells two electric vehicles– Bijlee and Maxximo.
  • 8. BPO companies' overseas strength multiplies
    • Mumbai-based BPOcompany aegis has more employees overseas (27,000) than in India (20,000).
    • 9. Its operations are spread across ten countries, from the us and Argentina through Kenya and south Africa to Australia.