Reliance Communication may see action

Reliance Communication (RCOM) and the South African telco MTN will reportedly decide the share swap ratio at which Anil Ambani will transfer his stake in RCOM to get stake in MTN. Both the companies have reportedly agreed for the deal, which will result in RCOM promoter ADAG emerging as the single-largest shareholder in MTN and the foreign company becoming the holding firm of the Indian telco, however the swap ratio is yet to be decided.

Modis, who own 40.8% of Spice Communications, are reportedly learnt to have roped in Bahrain Telecommunications Co (Batelco) to buy out Telekom Malaysia`s 39.2% stake in the company.

The union government is reportedly considering raising export cess on long steel products to 15% from 10% to check surging steel prices.

J.K. Lakshmi Cement reportedly plans to invest Rs 100 crore to add five more ready mix concrete units by the end of this fiscal year. It currently has 10 units, the reports added.

United Breweries group, which acquired a controlling stake in Deccan Aviation, is reportedly considering operating under one brand, Kingfisher Airlines and doing away with the low-cost Deccan model altogether

Jet Airways has reportedly deferred the commencement of its Delhi-Hong Kong operations till November possibly due to delays in deliveries of some of the Boeing aircraft.

Tata Motors may reportedly charge the losses on its small car Nano against the profit it earns from selling trucks.

Eicher Motors, which owns the Royal Enfield motorcycle brand, reportedly plans to introduce two new motorcycles solely for the export market to raise overseas sales and combat domestic competition.

At least three insurance firms, ICICI Lombard General Insurance, National Insurance Co and HDFC Standard Life Insurance, have reportedly filed details of their property title insurance products they wish to launch with the regulator Insurance Regulatory Development Authority.

France`s Lafarge and Vicat and Germany`s HeidelbergCement are reportedly eyeing a stake in Sagar Cements.

The board of S.Kumars Nationwide will meet on 14 June 2008 to consider international acquisition of a business.

Hindustan Oil Exploration Company reported net profit of Rs 7.45 crore in Q4 March 2008 as against net loss of Rs 9.82 crore in Q4 March 2007. Sales rose 46.1% to Rs 36.21 crore in Q4 March 2008 over Q4 March 2007.

Gokaldas Exports, Indraprastha Medical and INOX Leisure, among others will declare their March 2008 ended quarterly results today.

Powered byCapital Market - Live News