M&M plans to bring SsangYong vehicles to India after completing the acquisition of South Korean automaker.<br />SsangYong will be retained as a separate unit and the acquisition will complete within 4 months.<br />The range of SUV’s will start from 12 lakhs, a level where M&M’s flagship Scorpio SUV price band ends.<br />Mahindra-SsangYong Deal<br />
SsangYong is currently having a debt of $640 mn and according to the analysts the takeover could be around $500 mn.<br />Continued…….<br />
Panasonic will be investing Rs 1,400-cr in India in coming three years to establish the brand as home appliance leader in India.<br />Panasonic is also planning to open 40 new exclusive showrooms this year. Currently it has 110 such outlets.<br />Panasonic India<br />
<ul><li>Tax Slabs</li></ul>Rs 2,00,000- 5,00,000 : 10%<br />Rs 5,00,000- 10,00,000 : 20%<br />Above Rs 10,00,000 : 30%<br /><ul><li>Incase of Senior citizens and women the limit is Rs 2.5 lakhs.
Corporate Tax will be brought down to 30% from present 34%.
These changes will come into effect from April 1, 2011.</li></ul>Provisions Under Direct Tax Code<br />
HUL has pitched Pureit Marvella against Aquaguard to break Eureka Forbes’ grip over the market.<br />HUL has priced Marvella at Rs 6,999 with the same USP- that it does not run on electricity.<br />Eureka Forbes says, “There will be no knee-jerk reaction because comparing Aquaguard and Marvella is like comparing a Honda Accord and Maruti 800.”<br />Hindustan Unilever Targets Rival Eureka Forbes<br />
Reliance Communication is in discussions with global players like Motorola, HP, Sony and Intel for its infrastructure and 3G mobile business.<br />Recently RCOM has invested Rs 8,500-cr for securing the spectrum to offer 3G mobile services.<br />Analysts have estimated that RCOM will be needing Rs 5,000-cr for rolling out the networks.<br />RCOM looking for Partners <br />
Over 650 Indian’s are on Interpol’s Wanted list.<br />After Blackberry, Govt. turns heat on ISPs (Google, Yahoo, Skype etc.)<br />Dell has overtaken global rival HP first time in the Indian market with 15.2% share (According to IDC).<br />Petrol prices are set to rise by 70p per litre.<br />Miscellaneous News<br />
Tech Mahindra CEO Sanjay Kalra has resigned and Vineet Nayyar, who is the vice-chairman, will take over the operational responsibilities of CEO. <br />7 Pak players in 1,50,000 pound match fixing scandal.<br />Continued……….<br />