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On Monday, PE giant, Carlyle Group has announced to sell its 65% stake in Chennai-based publishing BPO Newgen Knowledge Works to a group of investors led by Franklin Templeton. These shares were acquired by Carlyle about seven years ago for $9.4 million in one of the first private equity buyouts in the country. No financial details of the deal are available as of now.

The BPO Newgen Knowledge Works serves some of the largest publishing groups in the United States and the United Kingdom. It has a workforce of 800 people, who are working in India, the UK and the US.

A new plan introduced by SBI Life will ensure stable returns to investors. ‘Flexi Smart Insurance’ initiated by SBI aims at security for customer’s investment and stable returns.

The investors will be provided with an option to change the assured amount and elasticity of premium payment, along with interim and additional interest rates.

SBI Life MD and CEO, M. N. Rao said, “We will continue to strengthen our simple and smart series so as to cater to the protection and savings needs of multiple customer segments with varied risk— appetite”.

Telecom watchdog, the Telecom Regulatory Authority of India (TRAI) gave out the advice to service suppliers for offering Value-Added-Services (VAS) to users. These directives were given by TRAI today, keeping in mind the interest of customers.

According to TRAI, the suppliers should confirm the VAS within the 24 hours of confirmation from the customers by mails, messages or Fax or in a written form.

“He should charge the consumer only if the confirmation is received from him for such value added service and shall discontinue if no confirmation is received", TRAI said.

Sakthi Sugars Managing Director, M. Manickam said that though in the sugar markets the decisions are quite unsure but he has hopes from the government for decontrolling the sugar industry.

The Managing Director of Chennai based Redington India Ltd., R Srinivasan notified that company has requested its two large shareholders to bring down their stakes to less than 26%. They have responded positively to the management request and dragged down their shares.

June has been a fruitful month for two-wheeler makers where the market ruler Hero Honda along with third biggest company TVS Motors have gained a growth of 20% and 14%, respectively.

In the same month, the Bajaj Auto had reported a perceptible hike in its sales , 16% year-on-year to 3.67 lakh units, which is a high ever figure for any month of June, claimed the company in a statement. Further, it has notified a nice figure for its exports for the month accelerated 25% to 1.42 lakh units.