Sandstone Capital and Sequoia Capital have acquired a minority stake of less than 10% in Micromax, India's largest domestic handset maker, for approximately Rs. 200 crore. Micromax has hired investment banks to handle its planned Rs. 600-800 crore public offering, which would make it the first domestic handset maker to go public. Foreign institutional investors have pumped $4.4 billion into the Indian equity market so far this month, attracted by strong economic growth. Hyundai said its plans for a new small car in India to compete with the Maruti Alto are "well in course". Bank of Baroda has the second highest profit per employee among nationalized banks in India. The Sh

1. Top News of this Weekend (20 Sep. to 26 Sep) Presented By SupriyaNayyar

3. It is the 1st domestic handset maker to go Public.

4. It has hired CitiGroup Global Markets, Edelweiss & JPMorgan to be the Lead bankers for the public offering to raise Rs.600-800 crore.

6. Foreign funds have been investing heavily in the Indian Capital Market for the last four weeks driving the country’s benchmark Sensex over 11% higher.

9. The profit per employee of BoB staff at Rs 8,000.

11. It is a part of a strategy to further reach out to masses and plans to build on the current business of the debt-ridden firm.

12. Vishal is a good opportunity for it as the business model and the mass market appeal of the brand is in-line with Shriram Group's core strategy.

14. The acquisition & its future plans is subject to legal and shareholders' approval.

15. It is an investment into the non-financial business.