Warburg Pincus-controlled WNS Holdings is reportedly working on an outright acquisition, or a strategic merger, with rival outsourcing firm, Firstsource Solutions, in which ICICI Bank holds 26.8% stake.
Kirloskar Electric Company has reportedly placed a bid to acquire Germany's Lloyd Dynamowerke based on an estimated enterprise valuation of about $100 million.
State Bank of India is likely to earn an entry premium of more than Rs 400 crore to tie up with Insurance Australian Group, the reports suggested. The premium is highest in the insurance business so far.
Tata Motors is reportedly in the process of reorganizing its commercial vehicles facilities to create vehicle-specific hubs. According to reports, the company is expected to relocate the production of of nearly 10,000 heavy commercial vehicles from Pune to Jamshedpur in the current fiscal.
The founders of Amara Raja Batteries have reportedly decided to form a holding corporation that will take under its wing five group companies and the newly formed Amara Raja Infra.
HTMT Global is reportedly planning to acquire a mortgage-specific company in the UK. The BPO and IT services provider may invest more than $150 million for the buyout. HTMT has internal accruals of $110 million which will be used for the acquisition, the reports added.
Omaxe is reportedly planning to venture into power generation by forming a joint venture with a Spanish firm, Isolux. The New Delhi-based developer is expected to control 51% stake in the joint venture, while the remaining stake will be held by Isolux. The JV will set up a 150 megawatts unit at Ennore near Chennai, the reports suggested.
Everest Kanto Cylinder reported 124.8% surge in net profit to Rs 11.51 crore on a 34.9% rise in sales to Rs 108.05 crore in Q4 March 2008 over Q4 March 2007.
HTMT Global Solutions reported 12.29% decline in net profit to Rs 14.98 crore on a 3.30% rise in sales to Rs 98.52 crore in Q4 March 2008 over Q3 December 2007.
Bajaj Electricals, Emco, Gwalior Chemical, Jindal Steel, Lloyds Steel, Neyveli Lignite, Opto Circuits, Sundaram Finance, and Tata Coffee, among others will declare their March 2008 ended results today.