Satyam Computer Services has postponed a board meeting set for Monday, 29 December 2008 until 10 January 2008 to mull options beyond just a possible share buyback. The board will consider measures to strengthen Satyam's governance structure, including increasing the size and altering the composition of the board, the company said in a statement issued late on Saturday, 27 December 2008. New York-listed Satyam has hired DSP Merrill Lynch to conduct a review of the company's strategic options to enhance shareholder value, the statement said, without giving details.
Core Projects & Technologies is reported to be in advanced stages to acquire K12 Education Division, part of US-based online education provider Princeton Review for an estimated $20 million-$25 million.
Lanco Infratech has reortedly stacked cash, sufficient to survive till 2010, by putting off its diversification plans for at least 18 months.
Tata Metaliks will reportedly raise Rs 100 crore by issuing non-convertible debenture on a private placement basis, bonds or through syndicate loans, the company said in a statement.
Kirloskar Brothers will shut its production unit in Madhya Pradesh from 25 December 2008 to to 4 January 2009 to avoid excess inventory.
The board of Bharat Forge has approved issue of non-convertible debentures for Rs 250 crore on private placement basis to Life Insurance Corporation of India.The issue is being made to meet the normal capital expenditure, general corporate purposes and long-term working capital requirement, it said in a statement to the stock exchange.
Punjab National Bank has received in-principle approval from Royal Monetary Authority of Bhutan for its joint venture with Bhutanese promoters to set up a bank in the country.
The settlement between the estranged Bajaj brothers - Rahul and Shishir - will reportedly lead to board reshuffle in many group companies, with the Rahul Bajaj faction resigning from Bajaj Hindusthan, the flagship company of Shishir Bajaj Group.
Jet Airways and Kingfisher Airlines will reportedly cut fares by 15% - 40% following a fall in aviation turbine fuel prices.
Rolta India is reportedly close to acquiring a US-based specialist IT firm, which provides software and related services to the oil and gas industry. Financial details of the deal were not available. The finance ministry has reportedly asked state-run banks to look at ways to cut their holdings in government securities so that they can lend more in a credit-starved economy.
Indian banks are reported to have an exposure of over $1 billion to the five troubled global financial institutions including Lehman Brothers and AIG, according to an assessment by the RBI.
The Reserve Bank of India (RBI) has reportedly put a hold on a proposal by the finance ministry and market regulator Securities and Exchange Board of India (Sebi) seeking to allow foreign institutional investors in Indian Depository Receipts.
Powered by Capital Market - Live News