Mumbai: Larsen & Toubro (L&T) formed Buildings & Factories Ope

The largest Indian drug maker, in terms of market value, Sun Pharmaceutical Industries Ltd has started initiatives to end acquisition dispute of Taro Pharmaceutical Industries Ltd. The company has offered to raise purchase price of stake to close the deal out of court.

With a noble cause in mind, Nokia India has announced its “recycling campaign” for the Indian region. Under this program, the mobile phone users would be encouraged to dump their used handsets and accessories, no matter what brand they are, at any of the 1,300 green recycling bins put up across Nokia priority dealers and Nokia care centers. The basic aim of this effort is to actually spread awareness among the users regarding the recycling of e-waste. 

Vijay Mallya-run private air-carrier Kingfisher Airlines is planning to start daily flight between Mumbai and London from Monday. The move is aimed to expand its overseas operations. The new flight would leave for Heathrow's Terminal at 1.50 pm IST from Chhatrapati Shivaji International Terminal, Mumbai and reach London at 5.55 pm GMT. The company would use brand new Airbus 330-200 aircraft which is configured in two classes namely Kingfisher First and Kingfisher second Class.

The State Bank of India (SBI), the largest bank in the country, has picked up 19.7 per cent equity in Orissa-based Mayfair Hotels and Resorts (MHRL) through a private equity (PE) deal, for an undisclosed sum.

The group currently has four hotels in the state and plans to use the funds to expand organically and geographically.

The deal was for 37.33 lakh shares with a face value of Rs 10 each. Post-deal, the promoters' share will be 80 per cent.

Quippo Telecom Infrastructure Ltd (QTIL), a SREI Group subsidiary, has finally acquired a 49 percent stake in Wireless Tata Telecom Infrastructure (WTTL), Tata Teleservices' tower arm.

Under the deal, QTIL will pay Rs 2400 crore to Tatas, and transfer its 5000 towers into WTTI. In addition, QTIL will have management control in the firm.