Mahindra & Mahindra interested in bankrupt Saab Automobile: report
India's biggest utility vehicle manufacturer Mahindra & Mahindra (M&M) is reportedly interested in buying a part or the whole of the bankrupt Swedish carmaker Saab Automobile.
Two people familiar with the matter said that M&M is organizing meeting with the court-appointed administrators, viz. Hans Bergqvist and Anne-Marie Pouteaux, who are Saab Automobile's bankruptcy and finding potential buyers for the bankrupt manufacturer.
TCS overtakes RIL in market capitalization
Tata Consultancy Services (TCS) on Friday surpassed Reliance Industries Ltd to become India’s largest company by market capitalization.
On the last trading day of 2011, TCS’ market capitalization stood at Rs 2.27-lakh crore, while market value of RIL slipped to Rs 2.26-lakh crore as shares in RIL fell a 52-week low.
Shares in RIL on Friday slipped to Rs 689. However, shares later recovered to close at Rs 693.10, but the figure was still down by 2.6 per cent from previous day trading.
It may be noted here that RIL shares have never traded below Rs 700 since March 2009.
Overall inflation may recede to 6% by March: Finance Minister says
Overall inflation may recede to 6 per cent and the Reserve Bank of India (RBI) may start cutting key rates by March next year, Finance Minister Pranab Mukherjee has said.
The government data released on Thursday revealed that prices of primary food articles, which accounts for 14 per cent of the wholesale price index, jumped merely 0.42 per cent over the week to December 17 from the year-ago period.
Speaking to reporters, Mr. Mukherjee said, "If this trend continues then you will have (fiscal) year-end (headline) inflation around six per cent."
Godrej Properties raises Rs 45 cr by selling 49% stake in Gurgaon project
Godrej Properties Ltd has sold 49 per cent stake in its subsidiary Godrej Premium Builders to private equity firm Sun-Apollo India Real Estate Fund for Rs 45 crore, the Mumbai-headquartered real estate arm of Godrej Group confirmed.
Godrej Premium Builders is developing a project at sector 104 in Gurgaon, Haryana, called Manesar Urban Complex. It is the firm's second project in Gurgaon. Previously in 2010, the firm launched its first project, called Godrej Frontier, in sector-80 of Gurgaon.
Union Bank of India cuts rate by 10 basis points
While the Reserve Bank of India (RBI) is still brooding over plans to cut key rates, Union Bank of India on Thursday astonished the market by announcing a cut of 10 basis points in its lending rate.
State-owned Union Bank of India's lending rate now stands at 10.65 per cent.
Union Bank of India chairman MV Nair said that the cut in lending rate would boost loan demand and provide the bank with an edge over peers.
The lender's prime-lending rate is at 15.50 per cent.
Identity Finder report details extent of ‘Anonymous’ hack on Stratfor
In its recently-published report, New York-based data loss and identity theft prevention service Identity Finder has drawn attention to the extent of the recent hack of the Stratfor website, mentioning that AntiSec - which is a hacktivist group affiliated to `Anonymous' hacking group - has thus far released personal details of Stratfor clients whose first names begin with A through M.
Microsoft’s Windows Phone Marketplace hits ’50,000 apps’ milestone
With the Microsoft Windows Phone Marketplace hitting the `50,000 apps' milestone this week, it is being reported that the app store managed to go past the mentioned landmark in a much lesser time than had been predicted.
According to All About Windows Phone, Microsoft's mobile app store has recently gone past the `50,000 apps' figure; within nearly a month and a half after having touched the `40,000 apps' mark on November 17.
Google+ may reach 400 million users by 2012 end
According to an independent analysis of the growth of the Google+ social-networking service, at least 625,000 new users are signing up for Google+ which appears to be on track to boast a total of approximately 400 million members by the end of 2012.
As per the information shared by Ancestry. com's founder Paul B. Allen, who is the "unofficial statistician" keeping track of the Google+ numbers, the recent weeks have witnessed a notable increase in the popularity of Google+, with nearly 25 percent of its total user base signing up for the service in December alone.
US strengthening alliances with Japan, India to creating anti-China axias: People’s Dily
Washington is strengthening its alliances with Japan and rising-power India to create an anti-China alignment in Asia, according to a commentary published in China's state-owned People's Daily.
Making a commentary on the US's security policy in Asia, the People's Daily said that Washington was trying to create Atlantic network-like model to in the Pacific region by strengthening its alliances with old allies like Japan and new partners like India to hold back China's growth.
Companies must conduct AGMs & send annual reports regularly: SEBI
The listed companies that do not conduct annual general meetings (AGMs) and are not sending annual reports regularly to its shareholders will face investigations, market regulator Securities & Exchange Board of India (SEBI) has warned.
On Monday, SEBI chairman UK Sinha stressed that he would ask his team to launch probe into all cases where annual general meetings haven't been called and annual reports haven't been sent.