As per latest reports, the giant Drug manufacturer company Strides Arcolab Ltd has recently announced that the company has sold its 94 percent shareholding in Ascent Pharmahealth Ltd, its subsidiary with operations in Australia and Southeast Asia, to United States generic drug company Watson Pharmaceuticals Inc.
Meanwhile, the deal was from Watson values Ascent at the market value of around A$375 million.
Further, the reports have said that the transaction includes that the Watson has taken-over the other 6 percent shareholding associated with Ascent’s chief executive officer Dennis Bastas. The deal was inked and closed at the same time. Read the rest of this entry…
Wipro reports 10% growth in profit
As per the fresh business updates, Wipro has recently announced in its reports that the company has reported a solid revenue of Rs 9,997 crore in the third quarter ended December 31, 2011, a growth of 28% as compared to the same period of last year.
Meanwhile, the revenue of the IT major company has been increased by 10% in the third quarter to Rs 7,608 crore.
Though, the company’s operating margin in IT services fell 150 basis points compared to previous year. Wipro has made a profit of Rs 1,456.40 crore, up 10.4% compared to previous year.
In a conversation with media, Chairman Azim Premji said that in spite of uncertain global nature, the company reported growth and its performance in the US market is good. He said, “Overall, this year looks much better than 2008.” Read the rest of this entry…
As per the latest reports, the giant auto sector company, Bajaj Auto has recently announced its third quarter earning reports, showing a growth of 19.19 percent in net profit at Rs 795 crore in the quarter ended December last year.
In the same period of 2011, the company reports a growth of Rs 667 crore.
Bajaj Auto reports a growth of Rs 4840 crore for the quarter under review. However, a loss on derived hedging is announced as Rs 59 crore.
The major automobile company announced high sales of over 1 million units for the third successive time in a row, and reported a revenue of around Rs 5154 crore and export revenue of Rs1710 crore. Read the rest of this entry…
According to the latest news from the business sector of India, Reliance Communications Ltd. (R-Com), the major mobile telephony company of the Anil Ambani-headed Reliance Group, has recently announced a tied up foreign debt to refund the redemption of outstanding foreign currency convertible bonds (FCCB) issued by the firm.
In a statement issued by the company during the stock exchange filing, it announced that the company had managed to gain around $1.18 billion from Industrial and Commercial Bank of China, China Development Bank and Export Import Bank of China and few more lenders to refund the FCCBs that are due for redemption on 1 March.
As per the statement issued by the company, it is said, “R-Com will benefit from extended loan maturity of seven years and attractive interest cost of about 5 percent.” Read the rest of this entry…
The telecommunication firm Airtel that is known for its fast networking service, now introduces its new ‘BBM Plan’ for BlackBerry’s customers.
The Black Berry Messenger service is popularly liking by India youth and keeping that thing in mind Airtel has launched its new plan of fixed fee that subscribed by postpaid mobile customers.
As per plan the customers should have access unlimited the BlackBerry Messenger service along with 300 national messages to only Black Berry Mobile phone users by paying a fixed fee of Rs. 129 per month.
Along with Airtel, Vodafone Company has also launched same plan on next week except name change that is of ‘Go BBM’.
There are two options for Vodafone customer regarding the plan that is they can usage the unlimited access of BBM service on Rs. 5 per day or Rs. 129 per month for prepaid. And for post paid there will be fixed price of Rs 129 per month.
However at this time BBM, the instant messaging service, seems to be one of the most liking social networks with over 50 million users. Read the rest of this entry…
Infosys reports 33% growth in net profit
As per latest business sector news, the Bombay Stock Exchange market fell 54 points at 16,122.38 and Sensex over 100 points in the early trade, disappointment with 8% crashed made by the Bangalore-based Infosys, India’s second-largest software company.
But Market forecast of a 33 per cent rise in quarterly profit of Infosys after the company reduced its revenue outlook in dollar terms for the entire year as a debt crisis in Europe which is its second-biggest market.
However such revenue reduction guidance intimates by macroeconomic headwinds in Europe and the US from where most IT companies earn a majority of their revenues, and does not augur well for Infy’s business. Due to debt crisis in Europe all India’s export-driven software services companies are bracing for a slower pace of outsourcing contracts as a weak rupee boosted margins. Read the rest of this entry…
Having unclear outlook, the Indian software companies are facing a difficult situation for a slower pace of outsourcing contracts in 2012.
While the quarterly earnings this week has kicked off by the IT companies because of the lingering debt crisis in Europe, their biggest market after the United States, their outlook is hazing.
However the bigger rival of Tata Consultancy Services Ltd , Infosys Ltd, the country’s No.2 software services exporter and third-ranked Wipro Ltd , they get three-quarters of their revenue from the United States and Europe.
The research firms Gartner Inc revealed a statement, Global spending on IT will raise at the slowest pace around 3.7 percent against its earlier estimate of 4.6 percent in three years in 2012 as Europeans, worried about the region’s sovereign debt crisis are cutting back on investments. Read the rest of this entry…
The new ES8000 55-inch “Super OLED” 3D smart TV of Samsung that has a dual core processor is capable of multitasking. Samsung announced that it would release TVs of this form as large as 75 inches.
Now OLED, having brighter and thinner screens, is replacing LCD. It features of using less power so it is cheaper to manufacture.
Today Samsung make announcement that like the LG 55-inch OLED (organic Light-Emitting Diode) its TVs would be controlled by voice, gestures and face recognition.
Interestingly users can switch the TV on, open apps and perform searches using their voice or hand gestures and such move deals Microsoft’s Kinect no longer controls the gestures space. Read the rest of this entry…
According to the fresh news from the technology sector, the well-known Japanese car maker [Toyota Motor Corporation] has recently announced to start the production of its sedan Etios and Live in India from 2013.
During the launch of new cars in the 11th Auto Expo 2012, Toyota Motor Asia Pacific President Hiroji Onishi said, “We are going to start the first production outside India from next year. It will be for the Latin American nation and the production base would be Brazil.”
Though, no further information was declared by the company officials about the production volume and the amount of investment for the new project. Read the rest of this entry…
The India’s Kingfisher Airlines is downed more than 11 percent in share market on Friday morning.
It has happened just a day after a report said the country’s aviation regulator had concerns about safety standards. State Bank of India, the company’s largest creditor, declared its exposure to the air-carrier a non-performing asset when Kingfisher Airlines has not paid lending funds of Rs 1,457.78 crore to Bank.
The Times of India said that an audit by the Directorate General of Civil Aviation (DGCA) suggested Kingfisher’s licence may be under threat as its financial predicament could impinge on safety.
However in turn back, Kingfisher strongly denied that safety was compromised and the DGCA later said, “There is no threat of cancellation, although it has asked for rectification measures.” Read the rest of this entry…