Plethico Pharma to Take Over 20% stake in Tricon Holdings arm for $20 mn

A global pharma company with a strong emphasis on herbal and neutralceutical segments, Plethico Pharmaceuticals Ltd, is all set to acquire 20% stake in the Sputnik Regional Aptika Holdings Ltd, a drug retailer in the Commonwealth of Independent States, or CIS, from Hong Kong-based Tricon Holdings Ltd for $20 million (Rs100 crore).

India's third largest software exporter, Wipro has asked its latest batch of recruits to join its business process outsourcing (BPO) division instead of technical and software division. The management has intimated all engineers, selected from various Engineering colleges, about the decision of the company through e-mail. The company has sited unfavorable market conditions and economic slowdown as a reason for its recent decision.

One of the country’s top incorporated financial group, Religare Enterprises has received clearance from SEBI to acquire the entire shareholding of Lotus India Asset Management Company (Lotus India AMC) from its shareholders.

DLF Assets (DAL), promoted by K P Singh will raise USD 450 million from private equity investors by December for part payment to another promoter group firm DLF Ltd. DLF Assets Ltd has been established to acquire commercial projects of DLF, the country's largest realty firm.

Bangalore-based BPO Easiprocess is ready to set up its new office in Pune, which can house 500 employees in one shift.

The expansion of the new office is in view of potential third party clients that Easiprocess is confident of securing shortly.

Presently, Easiprocess has two offices in Bangalore - one that is functional and accommodates 100 workers and another that serves as a Disaster Recovery site.

President and CEO of Aramco, Mr. Abdallah S. Jum'ah said that the speculations are the major reason for fluctuation in the oil prices and it would take some time for the price stability. Aramco is Saudi Arabia based largest company in the world in oil production and exploration.