ICRA Techno Analytics (ICTEAS), a part of ICRA, is picking up a 50.1% stake in California-based IT solutions company BPA Technologies. While ICTEAS will pick up 50.1% stake in the company initially it will gradually increase that, a company spokesperson said. The valuation of BPA will be performance linked and is expected to be at around $16 million. BPA Technologies, a global technology services firm delivering enterprise content management, portal and collaboration solutions, registered a turnover of $10 m as on December 31, 2011.
Diesel DZire price hiked by up to R12,000
The countrys largest car maker Maruti Suzuki India has raised the prices of the new diesel variants of its sedan DZire by up to R12,000 from this month, citing input costs pressure. The company is feeling the pressure of input costs. To mitigate the impact, we have hiked the prices of only diesel variants of the new DZire with effect from May 1, a senior Maruti Suzuki India official said. The company has increased the rates of the model between R8,000 and R12,000, he added.
Arun Sawhney reappointed as Ranbaxy CEO & MD
Drug major Ranbaxy Laboratories on Tuesday said its shareholders have approved reappointment of Arun Sawhney as CEO and MD of the company for a period of five years. The shareholders of the company at their annual general meeting held here have unanimously approved the reappointment of Arun Sawhney as CEO and MD of the company for a period of five years with effect from January 1, 2012..., Ranbaxy said in a filing to BSE. The AGM has also approved the reappointment of Takashi Shoda as the director of the company, it added.
Shriram Transport Finance net up 2.24%
Shriram Transport Finance Company (STFC), part of the Shriram Group, has reported a 2.24% growth in its net profit for the year ended March to R1,257.46 crore against R1,229.88 crore in the previous fiscal. For the fourth quarter the profit declined sharply to R308.07 crore against R340.62 crore reported during the same quarter of previous financial year. Net interest income during the quarter grew 5.35% to R805.60 crore against R764.68 crore of the same period previous year.
Jubilant FoodWorks starts Dunkin Donuts rollout
Jubilant Foodworks (JFL) on Tuesday said it will invest around R12 crore to open a minimum of 10 Dunkin Donuts stores in the country this fiscal. JFL, the master franchisee of US-based Dunkin Donuts brand in India, has opened a store in Delhi to sell baked food and coffee. The company said it will mostly focus on the Delhi-NCR area in this year before it moves on to other locations. In this fiscal we will make a capital expenditure of around R12 crore to open 10 stores of Dunkin Donuts, JFL CEO Ajay Kaul said.