Month: January 2009

Lazard sells 35.74 mn Satyam shares in open market deals

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Overseas investor Lazard Asset Management LLC has liquidated 35.74 million shares of fraud-hit Satyam Computer Services. The global investor offloaded the stake through open market deals on January 15, according to the IT major’s filing with the FreePress. The stake sale works out to 5.3% of the equity of Satyam. Lazard stated that the shares … Read more Lazard sells 35.74 mn Satyam shares in open market deals

Indian IT sector emerges as laggard in creating jobs

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The one time favorite IT space has lost its sheen as a hot spot for employment and the prospects of job creation has slipped by 46% in the last quarter of 2008 further denting the sentiments post Satyam saga. In the third quarter of 2008, the sector has witnessed a staggering 484% growth, while job … Read more Indian IT sector emerges as laggard in creating jobs

Jet Airways slashes international biz class fare by 25-40%

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Private carrier major, Jet Airways, has slashed its international business class fare by 25 to 40% for destinations including London, New York and Toronto to Singapore, Bangkok, Hong Kong and Gulf countries. The airline has come up with a special Mumbai-London and Delhi-London first class base fare at Rs 2 lakh per person, down from … Read more Jet Airways slashes international biz class fare by 25-40%

Vishal Retail Megamart – Leans on franchisees for expansion

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Vishal Retail came out with the financial performance for the quarter ended December’08 and held a tele conference call on 21st December’08 to discuss the performance as well as future course of actions. Highlights of the call Standalone net sales for the quarter ended December 2008 reported a growth of 24% to Rs 355.45 crore … Read more Vishal Retail Megamart – Leans on franchisees for expansion