Weekly news1

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Weekly News

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Weekly news1

  1. 1. Weekly news 25th oct. to 31st oct. By: Mandeep Singh
  2. 2. Coke brings Nestle tie-up to India to take on Pepsi  COCA-COLA, extending its global joint venture with Nestle for ready-to-drink tea — Beverage Partners Worldwide — to India, at a time when a joint venture between its archrival PepsiCo India and Tata Tea for functional beverages is on the verge of being kicked off.
  3. 3. Videocon’s Kim to quit India in April  KWANG Ro Kim, one of the most successful expat professionals in the country, has decided to end his decade- long career in India in April next, when his three-year contract as vice chairman & CEO of Videocon Industries expires. “Back in Korea, I want to start a consultancy which will assist Korean small and medium enterprises to attain global scale,” the soft-spoken Korean told ET.
  4. 4. Qualcomm looks to sell broadband biz  US-BASED chip maker Qualcomm has hung the ‘For Sale’ sign on its yet-to-start wireless broadband service in India, less than five months after it won these permits in a keenly-contested auction and paid 4,913 crore for its licences.  The company has sought a minimum price of 5,000 crore for its airwaves and permits in the four circles of Mumbai, Delhi, Haryana and Kerala.
  5. 5. Bharti, Aircel keen on Qualcomm BWA biz  Bharti Airtel, India’s largest mobile phone company, is primarily interested in Qualcomm’s airwaves and permits for Delhi.  Aircel, a unit of Malaysia’s Maxis Communications and the country’s seventh-biggest operator, has shown interest in the Mumbai and Kerala circles.
  6. 6. FII biggies cashing out on listing gains  FUNDS run by Citigroup, Morgan Stanley and Goldman Sachs are among those that sell shares on the listing day to reap the riches from initial public offerings (IPOs), contrary to popular perception that top institutions are long-term investors.  Most recent listings have plunged below their IPO sale prices, partly due to these funds cashing out
  7. 7. Higher auto sales lift Mahindra Q2 profit  MAHINDRA & Mahindra, India's largest utility vehicles maker, reported a 7.8% rise in quarterly net profit, driven by higher sales in a fastgrowing auto market.  India's auto sector has been growing at 25- 30%.
  8. 8. Ctd…  The company, reported net profit of . 758 crore for the second quarter ended September compared with . 702 crore in the year-ago period. Total income for the quarter was higher by 20% to . 5,434 crore.

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