Tata Steel checks Stemcor India assets before bidding
Tata Steel is examining the assets of Stemcor India before it considers bidding for it. Tata Steel managing director Hemant Nerurkar told FE, The expression of interest is on; we have to get a lot of information, we know something about their pelletization plant, we also need to know about the other things (assets), we have to check everything properly then only we can bid. British company Stemcor Indias assets which are up for sale include a majority ownership in an iron ore mine, a pellet plant and a 230-km long slurry pipeline connecting the iron mines with a pellet factory in Orissa.
Shriram Group honcho joins Sanlam arms board
GS Sundararajan, group director of the Shriram Group, has been appointed on the board of directors of Sanlam Emerging Markets (SEM) with effect from August. Sundararajan is a director on the boards of the financial service subsidiaries and represents the promoter group in providing oversight in critical areas of strategic growth opportunities for each of these companies. He is the designated owner for leading the banking initiative for the group , a statement said on Friday.
Wockhardt promoter releases pledged shares
Wockhardts promoter Khorakiwala Holdings & Investments released pledge on its 6.97 crore equity shares (63.62%) on Wednesday. Now only 4.4 lakh shares or 0.4% equity of Habil F Khorakiwala is pledged. Promoters hold 73.54% stake in the company as of June 2013. Wockhardt shares closed 4.5% up to R460.15 on the BSE on Friday.
Tecpro Systems Q1 net loss at R60 crore
Lower income led Tecpro Systems into the red with the material handling firm reporting R60 crore net loss during the April-June quarter over a year ago. The firm had clocked R7.03 crore net profit in the corresponding quarter a year ago. Total income of the company fell to R308.64 crore from R558.15 crore recorded in the April-June quarter of 2012-13 fiscal. While expenses came down to R271.88 crore during the reporting quarter from R484.44 crore a year earlier, finance costs rose by around R32 crore to R97 crore.
IndiGo to launch 2 daily Delhi-Ranchi flights
Expanding its domestic network, low-cost carrier IndiGo on Friday announced launching of two daily flights to Jharkhands capital Ranchi from here via Patna. The new flights are most likely to have corporate and leisure passengers travelling to and from Ranchi and to neighbouring Jamshedpur. The airline also announced launching of the third daily direct flight from Delhi to Patna.
Windows Phone OS posts largest growth in Q2: IDC
Windows Phone operating system posted the largest growth among the top five smartphone platforms shipments in the second quarter this year surpassing struggling BlackBerry which dropped to the fourth spot. The market share of Windows Phone OS rose to 3.7% in the quarter from 3.1% in the year-ago period, while BlackBerrys share declined to 2.9% from 4.9% during the same period, latest data from research firm IDC showed.
Tata Docomo launches plans with free tablets
In a bid to promote high-speed wired broadband service, Tata Docomo on Friday launched plans with speed of up to 100 Mbps wherein the company is offering free tablet PCs ranging from R5,000 to R40,000 for all annual subscription plans starting from R1,099 per month. Every subscriber to the 100 Mbps annual plan will get a tablet worth R40,000 free whereas subscribers opting for other annual plan of R1,099 or above per month, will get a free tablet worth R5,000, the company said in a statement. The monthly subscription for the 100 Mbps plan is R6,666.
Ashutosh Karnatak is Gail India director of projects
Ashutosh Karnatak, executive director (projects) at Gail India, was on Friday selected to become the next director (projects) at the state-owned gas utility. Government headhunter, The Public Enterprise Selection Board, after interviewing 12 shortlisted candidates chose Karnatak to replace RD Goyal in March 2014, PESB said on its website. Goyal retires on February 28, 2014 on attaining super-annuation age of 60 years. PESB said among those it interviewed included eight executive directors at Gail and one each at IOC and BP.