Company News

Satyam gets nod from NYSE Euronext to delist its American depositary shares

Satyam gets nod from NYSE Euronext to delist its American depositary sharesHyderabad-based Satyam Computer Services Ltd. notified on Tuesday that it has got regulatory approval from NYSE Euronext, to delist its American depositary shares, effective May 20.

NYSE Euronext is a Euro-American corporation that operates multi-securities exchanges.

The latest development comes after Venturbay Consultants Private Ltd, a subsidiary controlled by Tech Mahindra last week emerged as the highest bidder to acquire a majority stake in the troubled software company.

Religare raises stake in Vistaar Religare Capital

Religare raises stake in Vistaar Religare Capital Financial

Welspun Gujarat to demerge its Plate-cum-Coil mill into separate entity

Welspun Gujarat to demerge its Plate-cum-Coil mill into separate entitySteel-pipe producer, Welspun Gujarat Stahl Rohren Ltd has announced the demerger of its Plate-cum-Coil mill into a 100% subsidiary.

A senior company executive commenting on latest situation said, "The move will allow better financial control, better fiscal efficiency by rationalization of various applicable taxes, duties and create an independent identity of high-end steel business."

Following the demerger, a separate team with independent board and management would be structured, he added.

Tata Teleservices launches location-based A-GPS service

Tata-TeleservicesA new, location-based service has been launched by Tata Teleservices Ltd on Monday. Called the 'Quickfinder Assisted Global Positioning System' (A-GPS) service, it aims at facilitating for the CDMA subscribers the pin down of locations of interest, and the en-route tracking of vehicles and consignments.

The latest offering from Tata Teleservices is powered by Qualcomm's 'QPoint' solution and 'gpsOne' technology incorporated into its chipsets. The Navigator application of the service will provide end-users with driving instructions, and information about the shortest route to a preferred destination.

PepsiCo offers 6 billion dollars for control of bottlers

PepsiCoWashington  - PepsiCo Inc, the chief rival to Coca-Cola for world domination of the drinks market, Monday offered 6 billion dollars in cash and stock to buy out other shareholders of its two biggest bottlers in North America.

The move represents an about-face from the 1990s, when Coca-Cola and then PepsiCo spun off their capital-intensive bottling operations.

The offers of 29.50 dollars per share for stock it doesnt already own in Pepsi Bottling Group Inc and 23.27 dollars for PepsiAmericas Inc. shares reprsent a 17 per cent premium over closing priceirs on Friday.

SpiceJet joins Jet Airways and Kingfisher in increasing fuel surcharge on tickets

SpiceJet joins Jet Airways and Kingfisher in increasing fuel surcharge on tickets Close on the heels of the last week announcement of an increase of fuel surcharge on air tickets by Jet Airways and Kingfisher Airlines, the economical airlines, SpiceJet Ltd, has also decided to raise fuel surcharge on domestic sector air tickets by up to Rs 300.

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