Reliance Money, FTIL plan to set up their own stock exchanges

Reliance Money, the broking arm of Reliance Capital and Financial Technologies India (FTIL), which operates one of the world`s largest exchange networks are pondering over the idea to setup their own stock exchanges


Reliance Money, the broking arm of Reliance Capital and Financial Technologies India (FTIL), which operates one of the world`s largest exchange networks are pondering over the idea to setup their own stock exchanges

Wipro hunts for acqusitions

Wipro, one of India`s leading IT company is scouting for acquisition in IT firms servicing oil, telecom and healthcare industries, repots Economic Times. The company had recently acquired Citi Technology Services (Citos) from Citi Bank.

Second stimulus package in the next few days: Montek

The government is likely to come out with a second stimulus package for this fiscal in the next few days to spur economic growth, said planning commission deputy chairman Montek Singh Ahluwalia.

Noting that the world economy was going to be worse next year, Ahluwalia said, the task is to prepare a suitable fiscal strategy both for this year and the next year. He said the main thing is to make sure that expenditure that has already been provided, and the new expenditure, gets done.

UK could lose up to 600,000 jobs

As per a report by Chartered Institute of Personnel and Development at least 600,000 jobs could go in the UK in 2009.

The report says that while total unemployment will not hit three million, the time between New Year and Easter will be the worst for job losses since 1991. According to official statistics, there were 1.86 million people out of work in the UK in October.

M&M to sell 14% stake in Swaraj Mazda

Mahindra & Mahindra (M&M) is likely to exit from commercial vehicle maker Swaraj Mazda by selling its stake to Japan`s Sumitomo Corporation.

M&M is preparing to sell its 14.04% stake in Swaraj Mazda, it inherited after the acquisition of Punjab Tractors, according to sources close to the development.

Tantia Constructions bags contract worth Rs 423.3 mn

Tantia Constructions announced that the company has received the prestigious project on Dec. 22, 2008, for upgradation and strengthening of Aizawl Civil Hospital, Mizoram and strengthening of Champhai Civil Hospital, Mizoram, amounting to Rs 423.3 million.

Suzlon Energy hikes stake in REpower

Suzlon Energy announced that it has acquired the first tranche of Martifer Group`s stake in REpower Systems AG, Germany (`REpower`) for a payment of approximately Euro 65 million.

Jain Irrigation bags order worth Rs 270 mn

Jain Irrigation Systems announced on Dec. 30, 2008 that it has won an order worth Rs 270 million to supply dehydrated onions and vegetable to Europe in the calendar year 2009.

Punjab tractors inks MoU to sell stake in Swaraj Mazda

Punjab Tractors announced that it has entered into a Memorandum of Understanding (MoU) dated Dec. 30, 2008 with Sumitomo Corporation, Japan expressing its intention to sell 1,472,000 equity shares in Swaraj Mazda to Sumitomo Corporation, Japan.

Transgene Biotek inks pact with Heber Biotec

Transgene Biotek announced that it has entered into a commercial and development agreement with Heber Biotec S.A, Havana, Cuba for the development and commercialization of three vaccines, Hib conjugate vaccine, DPT+Hib quadrivalent combination vaccine, DPT+Hib+Hepatitis B pentavalent vaccine