Weekly news 13th sept to 18th sept


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Weekly news 13th sept to 18th sept

  1. 1. By: Nitin KochharMBA 2C<br />WEEKLY NEWS<br />
  2. 2. Shriram, TPG to buy Vishal for Rs. 100 crore<br />Vishal retail would sell its retail trading business to Chennai – based Shriram Group, and the wholesale division to the provate equity firm TPG.<br />Combined value of the deal is Rs. 100 crore.<br />Shriram is a diversified group which focuses on areas like financial services, property and engineering services.<br />
  3. 3. Contd…<br />Vishal Retail, one of India’s largest discount chains got into financial trouble about a year ago, with a pile up of Rs. 730 crore in debts.<br />The company operates retail outlets across India under brands like Vishal, Vishal Retail, Vishal Mega Mart and Vishal Fashion Mart. <br />
  4. 4. Big price swings may go with launch of WPI <br />Calculation of Inflation in India will undergo a change.<br />The base year against which price rise is measured is being shifted from the current base of 1993-94 to 2004-05, starting from monthly inflation data for August.<br />The change in base would improve the accuracy and make the index less prone to fluctuations.<br />
  5. 5. Contd…<br />More than 200 products such as refrigerators, televisions, communication equipment, precious metals, petrochemicals and automobile parts will be added to the expanded WPI. <br />200 outdated items will also be dropped. <br />
  6. 6. HP to buy ArcSight for $ 1.5 billion<br />HP – Hewlett Packard, the world’s largest personal - computer maker<br />California - based HP agreed to buy ArcSight for about $1.5 bn in cash to gain security software.<br />The deal follows purchases by Hp in the areas such as services, networking equipments and smartphones, lessening its dependence on lower-margin computers and servers. <br />ArcSight, a software maker used to identify suspicious activity on a corporate network. <br />
  7. 7. Contd…<br />Intel Corp. agreed last month to pay $7.68 billion for McAfee Inc., a provider of programs that protect computers from viruses and malware.<br />The chip maker paid a 60% premium, underscoring the growing importance of computer security.<br />
  8. 8. Metro Cash & Carry to start operations in Punjab next year<br />Metro Cash & Carry is German Retailer.<br />It will make its two wholesale distribution centers at Zirakpur and Ludhiana operational by mid-2011.<br />Two more distribution centers at patiala and Jalandhar would be launched by the end of 2011.<br />The wholesale retailer signed a MoU with the Punjab Govt in 2009 to open six such stores over the next few years and committed an investment of Rs. 900 crore in the state. <br />
  9. 9. Cond…<br />The group had already set up two such distribution centers each at Hyderabad, Bangalore besides one each at Kolkata and Mumbai. <br />The stores across the state would result in creation of over 1,000 jobs for local youth.<br />
  10. 10. ZTE bags $200-m RCOM contract<br />ZTE Corp. is a leading Chinese Telecom Equipment supplier.<br />After having a recent Rs. 300-crore WiMAX deal with BSNL, ZTE has clinched a near Rs. 920 crore contract from Anil Ambani’s RCOM to supply a mix of 3G and 2G gear in 8 circles.<br />
  11. 11. tHaNkyOu<br />