GVK Power and Infrastructure Ltd (GVKPIL), which provides generation, operation, and maintenance services to power plants in country is presently looking to divest stake in its roads and power ventures.

Latest reports suggest that the company is presently in talks with at least five players for divesting up to 49 per cent stake in these two segments. However, the company said that it would retain a majority stake of at least 51 per cent in these segments.

State run Power Finance Corporation has declared the results for the three-month period ended March 31, 2009.

For the period under review, the New Delhi-based firm said that it has posted a growth of 32.22% in its net profit after higher loan disbursals.

The company’s net profit in the fourth quarter stood at Rs 390.58 crore, as compared to net profit of Rs 295.40 crore during the corresponding period of the last year.

ICICI Prudential AMC, a joint venture between ICICI Bank - one of India's foremost financial services companies, and UK-based Prudential plc - a leading international financial services group, has announced the launch of an open ended equity diversified fund, called the 'ICICI Prudential Target Returns Fund' in the Indian market.

The fund seeks to generate capital appreciation by investing predominantly in equity shares of the large market capitalization companies constituting the BSE 100 index.

Ashok Minda Group, Country’s leading auto component manufacturer, has plans to set up a new manufacturing facility in Uzbekistan with an initial investment of $25 million.

Sources reported that the raw material for the proposed Uzbekistan plant would be shipped from India to control input costs as key inputs like steel and plastic cost, which is available lower cost in India compared to abroad.

BEML Limited, second largest maker of earth moving equipment in Asia, announced that it has established an assembly division, BEML Brasil Industrial Ltda, at Rio de Janeiro in Brazil.

Shri Pradeep Kumar, Secretary (Defence Production), Govt of India inaugurated the BEML BRASIL INDUSTRIAL LTDA in the company of His Excellency Shri BS Prakash, Ambassador of India to Brazil and Shri V RS Natarajan, Chairman and Managing Director, BEML LTD.

Substantiating the December 2008 reports that some top-rung executives of ICICI Bank may quit after Chanda Kochhar's appointment as the new CEO and MD, two business chiefs - Renuka Ramnath ICICI Ventures' Managing Director and CEO; and Shikha Sharma, Managing Director of ICICI Prudential Life Insurance - are likely to put in their papers, sooner than later.