Quick view: Noel Tata appointed as Trent chairman

Noel Tata appointed as Trent chairman

Tata Group?s Trent Ltd announced the appointment of vice-chairman Noel Tata as chairman of the company from March 31. Tata will take over from from FK Kavarana, who has been the chairman since 2006. Trent, which operates retail chains like Star Bazaar and Westside, had recently entered into an agreement with Tesco for hypermarket stores. In a separate announcement, the company said Dodona Holdings has increased its stake in the company from 2.2% to 5.36%.

ABG Shipyard board okays move to up share capital

ABG Shipyard?s board approved the company’s resolution to increase the share capital from R100 crore to R17,000 crore at the extraordinary general meeting on March 29. Additionally, the company also approved the borrowing limit of R20,000 crore and the appointment of Syed Waheed Zafar Abdi as the managing director & CEO.

M&M completes merger with truck, bus divisions

Mahindra & Mahindra has completed the merger of trucks and buses vertical of its subsidiary MTBL with itself for greater synergy with the group business. The vertical was first demerged from Mahindra Trucks and Buses and then merged with M&M. In a filing on the BSE, M&M said the scheme of arrangement has become effective from March 30. The Bombay HC had approved the scheme of arrangement between M&M and MTBL on March 7. The Mumbai-based firm had last year approved the de-merger of its trucks and buses operations from MTBL into M&M to derive greater synergies.

Political activists vandalise toll plaza, claims R-Infra

GF Toll Road Private ltd, the Reliance Infrastructure subsidiary that operates the Gurgaon-Faridabad expressway, has alleged that the toll plaza on the road was vandalised by some political activists who refused to pay the levy. According to sources, local political workers ransacked the plaza and damaged property and manhandled employees. Reliance Infrastructure, in a complaint to the Gurgaon police, said the hoodlums forcibly removed barriers, refused to pay toll, broke booths, blocked traffic and beat up and threatened the staff.

NTPC boosts solar power capacity to 75 mw

NTPC has more than doubled its solar capacity to 75 megawatts as India?s largest electricity generator seeks to diversify its portfolio of conventional power plants to help overcome fuel shortages. Three new solar plants comprising 45 megawatts capacity are ready for commercial operation, the company said in a filing on Monday. The projects are at Faridabad in Haryana, Unchahar in Uttar Pradesh and Rajgarh in Madhya Pradesh. The utility, which has 43,000 megawatt of mostly coal-fired capacity, has been forced to increase its purchases of expensive coal imports due to domestic fuel shortages. It plans to develop 1,000 megawatt of renewables by 2017.

Suzlon?s German unit stake sale report ?speculative?

Wind turbine company Suzlon Energy called the reports of its plan to sell stake in Senvion SE, its German subsidiary earlier know as RePower, and list it on the London Stock Exchange, as speculative and based on market rumours. The unconfirmed reports said that Suzlon was planning to sell shares in its German subsidiary Senvion SE to raise R10,000 crore by listing it on the LSE, adding that Suzlon would be diluting a 25% stake in Senvion giving Senivion a market cap of R40,000 crore.

Snapdeal, Mahindra ink deal to sell bullet-proof kits

Snapdeal.com has partnered with Defense Land Systems India, a Mahindra group company, to sell bullet-proof kits for Scorpio vehicles in the country. In a strategic tie up with Defense Land Systems India, the products (bullet proof kits for Scorpio) will be made available on Snapdeal for the first time, especially keeping in mind the election season, Snapdeal.com said in a statement. ?This is the first time, Indian customers will be able to access such a product in the online space,? Snapdeal.com business development vice-president Tony Navin said.

Sify, Akamai join hands for web acceleration

Sify Technologies (Sify), an IT and software services company, has entered into a partnership with Akamai Technologies, a cloud service provider, for delivering, optimising and securing online content and business applications. The partnership will enable Sify Technologies to offer Akamai’s global expertise and solutions in web acceleration and applications delivery to its enterprise customers across India. The collaboration is intended to help enterprises, especially those in BFSI, ITeS and manufacturing verticals to enhance cloud adoption for business and functional applications. By mitigating the complexities, enterprises will be able to enhance user experience, providing a comprehensive and secure platform for online applications.