Weekly news5


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Weekly news5

  1. 1. Weekly <br />News updated<br />20-09-2010 to 26-09-2010<br />Compiled by :<br />NavneetSuri<br />Mba- 2(a)<br />
  2. 2. Deutsche Bank gets HC stay on Vishal Retail sale<br />DEUTSCHE Bank and its asset management arm—lenders to retail major Vishal Retail—have received stay orders from the Delhi High Court which has asked Vishal not to dispose assets, putting a question mark on the struggling retailer’s plans to sell its business to Chennai-based Shriram Group and private equity fund Texas Pacific Group for 100 crore. <br />
  3. 3. Deutsche Trustees Services had filed the winding-up petition in February this year after it failed to recover 50 crore it had invested in the discount retailer through subscription of non-convertible debentures in June 2008<br />
  4. 4. Slated to mature in February 2009, the debentures were rolled over till August 2009 as Vishal Retail could not repay Deutsche. At that time, Vishal Retail issued three post-dated cheques towards the payment of interest and principal of the debentures. The cheques bounced. Deutsche Bank had provided a loan of 10 crore. <br />
  5. 5. Rains take the fizz out of cola majors’ sales After a scorching show, <br />Coke and Pepsi see dip in demand as heavy rains hit impulse buying <br />INCESSANT and prolonged rains have dampened sales for beverage majors Coca-Cola and PepsiCo.<br />Though neither Coca-Cola nor PepsiCo divulged numbers, beverage industry officials said unit case volume growth is down to about 8-9%. PepsiCo India (beverages) CEO Praveen Someshwar said: “The unusual rains have impacted growth.” <br />
  6. 6. Coca-Cola had posted unit case volume growth of 37% in the July-September FY09 quarter, PepsiCo had recorded an all-time high 50% volume growth in the same quarter last year<br />In the April-June quarter this year, Coca-Cola India’s unit case volume had expanded by 22% while PepsiCo’s growth in the quarter was about 19%<br />
  7. 7. Reliance missing in Euphoria<br />Investors are disappointed with the Reliance Contribution’s to the market in the last four months.<br />PIL shares have risen only 3.7% in the last four months as compared to total market increase which was 22% it is very less<br />
  8. 8. C-17 deal between India-US<br />Largest defence deal between India-US of acquisition of 10 C-17 globe master transport aircraft by the Indian air-force is likely to be inked during US president’s visit to India during November<br />C-17 are used for airdropping paratroopers, suppliers, emergency evacuation and carrying heavy equipments like tanks<br />Total costs for this deal would be around $3.5 billion, making it the biggest defence deal.<br />