India's second largest real estate firm, Unitech has terminated the services of about 10 percent of its employees, following the slowdown in the industry. The reality sector is facing the heat of the global financial turmoil and is applying many cost cutting measures to mitigate its impact.
Fortis Healthcare would raise funds with rights issue by the end of June 2009. The company board has approved the plan to raise Rs 1,000 crore. The funds would be used for debt adjustments and further expansion of the business. Significant parts of the fund would be used for the proposed Medi-City project in Gurgaon. Fortis would also upgrade its existing facilities and explore more investment opportunities in the market. The company currently has 23 hospitals and wants to add more by 2012.
Auto makers may extend production cuts in the wake of the severity of global financial crisis and slowdown in the coming times. Both commercial and passenger vehicle segments reported decline in the month of November and auto sector growth rate may further decline as per reports.
It has been announced by the Mahindra Ugine Steel Company that it has decided to align the company's production plans with the expected demand due to the ongoing economic slow down in the steel as well as the automotive industry and taking into account the slowdown in demand for the company's products.
On Tuesday, it was announced by Morgan Stanley's private equity unit that it had invested 1.82 billion rupees ($37.5 million) in unlisted Indian castor oil maker, Biotor Industries, with the motive to mark its first private equity investment in India. Via a statement, Chin Chou, managing director and head of Morgan Stanley Private Equity Asia said, "We are pleased to be making our first investment in India." He further added, "The Company expects to deploy a significant amount of the Asia fund in India in the next two years."
India's second largest real estate firm, Unitech has terminated the services of about 10 percent of its employees, following the slowdown in the industry. The reality sector is facing the heat of the global financial turmoil and is applying many cost cutting measures to mitigate its impact. 
Fortis Healthcare would raise funds with rights issue by the end of June 2009. The company board has approved the plan to raise Rs 1,000 crore. The funds would be used for debt adjustments and further expansion of the business. Significant parts of the fund would be used for the proposed Medi-City project in Gurgaon. Fortis would also upgrade its existing facilities and explore more investment opportunities in the market. The company currently has 23 hospitals and wants to add more by 2012.
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Auto makers may extend production cuts in the wake of the severity of global financial crisis and slowdown in the coming times. Both commercial and passenger vehicle segments reported decline in the month of November and auto sector growth rate may further decline as per reports. 
It has been announced by the Mahindra Ugine Steel Company that it has decided to align the company's production plans with the expected demand due to the ongoing economic slow down in the steel as well as the automotive industry and taking into account the slowdown in demand for the company's products.
On Tuesday, it was announced by Morgan Stanley's private equity unit that it had invested 1.82 billion rupees ($37.5 million) in unlisted Indian castor oil maker, Biotor Industries, with the motive to mark its first private equity investment in India. Via a statement, Chin Chou, managing director and head of Morgan Stanley Private Equity Asia said, "We are pleased to be making our first investment in India." He further added, "The Company expects to deploy a significant amount of the Asia fund in India in the next two years."
