Let’s count the events of the day

 

1. Just Dial to raise up to $174 million through IPO

Just Dial said on Monday it will raise up to Rs. 950 crore through an initial public offer, which is scheduled to be launched on May 20.

The Mumbai-based local search firm, which is backed by Sequoia Capital and Tiger Globe, will sell 17.5 million shares priced between Rs. 470 and Rs. 543 each, it said in a statement.

2. Dabur India set to expand portfolio in Middle East region

DUBAI: Indian major Dabur is set to broaden its current product portfolio in the Middle East region, looking to expand geographically and increase its penetration across various ethnic groups, a media report has said.

Dabur is focusing on its Middle East operations this year, with a strategic launch of a new face care range, natural hair colour creme and an innovative deodorant range for teenagers, the Khaleej Times report said.

Source: http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/dabur-india-set-to-expand-portfolio-in-middle-east-region/articleshow/20027515.cms

3. JLR opens new engineering test centre in Dubai

NEW DELHI: Tata Motors-owned Jaguar Land Rover today said it has opened a new engineering test centre in Dubai to conduct extreme hot weather vehicle research, development and testing.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/jlr-opens-new-engineering-test-centre-in-dubai/articleshow/20026289.cms

4. Maruti Gypsy to be phased-out from Army, Mahindra Scorpio & Tata Safari in race to fill gap

The Indian Army has decided to phase-out Maruti Gypsy from its inventory with Mahindra Scorpio and Tata Safari in the race to replace the vehicle under a project expected to cost the force more than Rs 3,000 crore.

The Indian Army is the biggest customer of the Maruti Gypsy utility vehicles with more than 25,000 such vehicles in service and uses them in all light vehicle operations including counter-terrorist and counter-insurgency operations.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/maruti-gypsy-to-be-phased-out-from-army-mahindra-scorpio-tata-safari-in-race-to-fill-gap/articleshow/19990741.cms

Worth reading: http://www.reuters.com/article/2013/05/12/net-us-google-social-idUSBRE94B04W20130512

Let’s count the events of the day

 

Alibaba Seen Avoiding Facebook Flop With IPO Below $100 Billion

(Jack Ma, Founder, Alibaba)

Alibaba Group Holding Ltd. doesn’t want to be the next Facebook Inc. -- at least for its prospective initial public offering. The world’s biggest online retailer is considering a more conservative valuation than what the social-networking company achieved last year, a person familiar with the situation said.

Ma, the executive chairman, said last year the company may go public within five years. Jonathan Lu will replace Ma as chief executive officer in May. It’s not known how much of the company might be listed.

Source: - http://www.bloomberg.com/news/2013-05-05/alibaba-seen-avoiding-facebook-flop-with-ipo-below-100-billion.html 

'Iron Man 3' has second best box office debut in history

Super-hero blockbuster sequel "Iron Man 3" smashed to the top at the US box office with a mega $175.3 million take -- the second best opening weekend ever -- industry estimates showed Sunday.

Source: AFP

Nano's downhill drive continues, just 948 units sold in April

Amid a slowdown of automobile market in India, Nano sales declined over 88 per cent during the month compared to 8,028 units sold in April last year, according to the information provided by Tata MotorsBSE 1.95 % to the BSE.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/nanos-downhill-drive-continues-just-948-units-sold-in-april/articleshow/19892833.cms

Meanwhile, Apache has crossed the one million mark. TVS, The Chennai-based company, launched the motorcycle equipped with a new Race-To-Response engine in 2006. Currently, it is being exported to more than 20 countries.

The Reserve Bank has allowed Tata Communications Payment Solutions, a subsidiary of Tata Communications, to set up and operate White Lable ATMs in the country.

White label ATMs – ATMs set up by parties other than banks.

 

Malabar Gold to open 220 stores across the globe by 2015

Kerala-based jewellery retailer Malabar Gold plans to open 220 stores across the globe by 2015 including South Asia and far East countries, a company official said today.

Jhunjhunwala buys 25 lakh SpiceJet shares, stock zooms

Shares of low-cost carrier SpiceJet today soared on bourses after big bull Rakesh Jhunjhunwala’s wife Rekha bought 25 lakh shares of the company on Friday.

Source: http://www.firstpost.com/investing/jhunjhunwala-buys-25-lakh-spicejet-shares-stock-zooms-754419.html

Infiniti Retail to launch ‘Croma’ 3G tablets in 2 weeks

Tata group firm Infiniti Retail, which runs ‘Croma’ chain of consumer electronics and durables stores, is planning to expand its range of private label items by introducing 3G-enabled tablet within next two weeks and high-end refrigerators by Diwali this year.

The company has already started offering affordable range of Croma-branded smartphones, which are sourced from China.

Source: http://www.firstpost.com/tech/infiniti-retail-to-launch-croma-3g-tablets-in-2-weeks-754161.html

Jet sells 24% to Etihad for Rs2,060 cr

The Naresh Goyal-promoted Jet Airways on Wednesday became the first Indian airline to sell a stake to a foreign carrier since last year’s relaxation in foreign direct investment rules. The company’s board approved a decision to allot 2.73 crore shares on a preferential basis to Abu Dhabi’s Etihad Airways for around R2,060 crore ($379 million). It was in September 2012 that the government allowed foreign carriers to buy up to 49% in Indian airlines.

Earlier, a proposal to start a new airline by Malaysia’s AirAsia and the Tata Group was cleared by the Foreign Investment Promotion Board.

The deal values Jet at nearly R8,500 crore, which is nearly double its market capitalisation of R4,954 crore as per Tuesday’s closing price. After the allotment, Etihad will hold a 24% stake in Jet while promoters will continue to hold 60.80% stake. Shares will be allotted at R754.73 each, a 31% premium to Tuesday’s closing price of R573.85 on the BSE.

Source: http://www.financialexpress.com/news/jet-sells-24-to-etihad-for-rs2060-cr/1107099

Bharti Gets $1.26 Billion Investment From Qatar Foundation

Bharti Airtel Ltd. (BHARTI), India’s largest mobile-phone operator, will sell a 5 percent stake to the Qatar Foundation Endowment for $1.26 billion after the carrier posted quarterly profit that missed estimates.

Bharti will issue 199.9 million new shares to the Qatar endowment at 340 rupees ($6.3) each, according to an e-mailed statement from the New Delhi-based company. That’s 7.3 percent higher than yesterday’s closing price. The stock closed 0.3 percent higher after climbing as much as 4.7 percent in Mumbai.

Source: Bloomberg

Intel CEO-Designate Krzanich Plans Faster Shift to Mobile

http://www.bloomberg.com/news/2013-05-03/intel-ceo-designate-krzanich-plans-faster-shift-to-mobile-chips.html

Tata Housing announces first housing project for senior citizens, called Riva.

Worth Reading:

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/pg-takes-away-some-work-from-india-to-cut-down-on-outsourced-it-work/articleshow/19903428.cms

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/techno-classica-the-biggest-car-show-you-might-never-have-heard-of/articleshow/19893944.cms

http://economictimes.indiatimes.com/features/corporate-dossier/billion-dollar-team-how-micromax-is-gearing-up-to-touch-1-bn-mark/articleshow/19850080.cms

Let’s count the events of the day

 

1. Uninor appoints Yogesh Malik and the new CEO

 

“Norwegian telecom major Telenor's Indian arm Uninor today announced the appointment of Yogesh Malik as the firm's Chief Executive Officer (CEO).

The company added that Managing Director Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India as the Head of Telenor Group's Asian operations.”

Source: http://economictimes.indiatimes.com/news/news-by-company/corporate-announcement/uninor-appoints-yogesh-malik-as-ceo-brekke-steps-down-as-md/articleshow/19830529.cms

 

2. Mercedes Benz to introduce five new models in India.

The company is all set to launch a diesel version of its B-Class , the new A-Class as well as the GL-Class over the next one month with the compact SUV GLA and 4-door coupe.

 

3. Honda Car India asked to pay a excise duty of 164 crores

The Central Boad of Excise and Customs has claimed that Honda Car India ought to have paid excise duty on the actual cost of production of the car and not on the discounted price.

These discounts were offered on Honda Brio and Honda Jazz.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/hondas-discount-offers-on-brio-jazz-under-cbec-scanner-asked-to-pay-rs-164-crore-more-as-excise-duty/articleshow/19793621.cms

 

4. Apple to Samsung Develop Smartwatch as Sony’s Time Passes

With growth slowing in the $358 billion handset market, Apple Inc. (AAPL) and Samsung Electronics Co. (005930) are developing digital watches that allow users to make calls, check map coordinates, or monitor their physical activity.
They might want to talk to Tokyo-based Sony Corp. (6758), whose feature-laden SmartWatch, on sale for more than a year, isn’t mesmerizing the masses.

Source: http://www.bloomberg.com/news/2013-05-02/apple-to-samsung-develop-smartwatch-as-sony-s-time-passes-tech.html

 

 

 

In other news:

Bankrupt investment bank Lehman Brothers has sued Intel Corp, accusing the chip maker of seizing $1 billion in collateral in breach of a swap agreement, a court filing showed.

 

Restaurants step up deals & discounts as footfalls drop after rise in menu rates

http://economictimes.indiatimes.com/news/news-by-industry/services/hotels-/-restaurants/restaurants-step-up-deals-discounts-as-footfalls-drop-after-rise-in-menu-rates/articleshow/19825478.cms

Consumer is the king: Supreme Court clears hurdles for FDI in retail

http://economictimes.indiatimes.com/news/news-by-industry/services/retail/consumer-is-the-king-supreme-court-clears-hurdles-for-fdi-in-retail/articleshow/19821412.cms

Asian Development Bank’s advisory for delegates visiting Indian for the annual meeting:

http://www.thehindubusinessline.com/news/adb-issues-dress-code-for-women-delegates/article4676117.ece

http://www.bloomberg.com/news/2013-05-02/unilever-wagers-billions-on-india-economic-revival.html