L&T emerging as front-runner for Satyam acquisition

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Engineering giant Larsen & Toubro has shown a keen interest in buying the embattled Satyam Computers, a move which has gained support from institutional shareholders such as Life Insurance Corporation of India (LIC) and ICICI Prudential Life Insurance. It is expected that the engineering heavyweight would present the revival proposal before the newly-constituted board of … Read more L&T emerging as front-runner for Satyam acquisition

FIIs net sellers of Rs 787 cr in cash segment on Wednesday

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Foreign institutional investors (FIIs) were net sellers of Rs 786.62 crore (provisional) in the cash segment on Wednesday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 863.51 crore, their gross sales aggregated Rs 1,650.13 crore. Domestic institutional investors (DIIs) were net buyers of Rs 282.73 crore (provisional) on … Read more FIIs net sellers of Rs 787 cr in cash segment on Wednesday

Wipro – No Wage Hike for American Staff

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Wipro held its conference call to discuss the third quarter of FY2009 and future prospects. Mr Azim Premji, Chairman alongwith others addressed the call. Highlights of Call The Company is seeing pricing pressure from clients. The margins would be maintained in narrow range going forward. The IT services segment dipped 0.9% at US$ 1100.1 million. … Read more Wipro – No Wage Hike for American Staff

Tata Steel – Corus Purchase Agreement with Klesch

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Tata Steel Ltd has informed FreePress that Corus and Klesch & Company have signed Share Purchase Agreement for acquisition of Corus’ aluminium smelters by Briand Investments B.V., an affiliate of Klesch. Corus and Klesch have today announced that they have signed a Share Purchase Agreement (SPA) for the acquisition of Corus’ aluminium smelters by Briand … Read more Tata Steel – Corus Purchase Agreement with Klesch

Dr Reddy’s Laboratories – Banks on Product Innovation

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Dr Reddy’s Laboratories declared the results for the quarter ended December’08 and held a tele conference call on 20th January 2009 to discuss the same and its future growth strategies. The key takeaways from the meet are as follows: Financial Performance The consolidated total operating income reported growth of 49% to Rs 1846.32 crore for … Read more Dr Reddy’s Laboratories – Banks on Product Innovation