Indian digital media circles have been abuzz with rumors of potential targets being looked at in the social media analytics space by Twitter, Adobe and even WPP, the worldâs biggest advertising company. The latest to join the list of potential targets is Simplify360, a Bangalore-based social media analytics startup that counts over 100 paying customers including big names such as Yamaha, Revlon, Target and Wipro. (TechCrunch)
Sapa Profiles eyes acquisitions: Even as it is doubling production at its Kuppam unit, Sapa Profiles India, a leading global manufacturer of aluminium extrusions, is actively scouting for acquisition opportunities in the country. The company is looking to buy firms engaged in the aluminium extrusion business in the northern and western regions, said Keith Jones, business area president, Sapa Extrusions Asia. The company has also made an initial investment of $3.5 million for a precision tubing plant at its Kuppam facility. (The Times of India)
CRI Pumps to acquire European firm for sewage treatment business: After opening its sixth foreign subsidiary company in China, Coimbatore based CRI Pumps is set to acquire a company in sewage treatment processing sector in Europe. The deal will be finalized within a month. However, CRI has not disclosed name of the company and other financial details, this will help CRI Pumps to enter in European markets particularly in sewage treatment processing sector with all kind of technology support as well. (Business Standard)
IDFC plans to raise $300 mn through foreign loans: Infrastructure Development Finance Company (IDFC) has said it is considering raising $300 million through foreign loans. The company raised $150 million (Rs p38 crore) in the third quarter (Q3) of the current financial year through international loans with a five-year maturity. It has been raising funds from international markets regularly, through bonds and loans. This round of fund-raising is meant to diversify sources and keep the interest of international investors alive, said S J Balesh, senior director (resources). (Business Standard)
Centre to infuse Rs 175 cr into Corporation Bank: The Centre proposes to infuse Rs 175 crore ($28 million) in Corporation Bank. The infusion will increase the governmentâs stake in the bank by 5%.Speaking on the sidelines of the launch of the bankâs loan centre for small and medium enterprises (SME), Chairman and Managing Director S R Bansal said so far this financial year, the government had already infused Rs 450 crore ($72 million). The bank plans to open 300 branches. The process to open 150 is underway; of these, 30% will be in un-banked areas. (Business Standard)
United Stock Exchange, DSE in talks for merger: The United Stock Exchange (USE) is in talks with the management of the Delhi Stock Exchange (DSE) for a possible merger, amid opposition by the latter's broker shareholders, concerned the deal will erode value. The proponents tout it a win-win for the USE, which has operations in the currency segment but no presence in the equity space, and the DSE, which has hundreds of companies listed on it but has been struggling to revive trading amid technological and marketing challenges. The move comes months ahead of a May deadline by the Securities and Exchange Board of India (Sebi) for winding down unviable exchanges. The USE-DSE deal could help the DSE meet the Rs 1,000-crore ($160 million) turnover criterion. (Business Standard)
Hindustan Zinc divestment unlikely this fiscal: The cabinet may have cleared it, but the mines ministry fears that the governmentâs sale of a residual stake in Hindustan Zinc Ltd (HZL) may not go through this financial year due to a lack of time to complete the process. The finance ministry hopes to garner Rs 17,000 crore ($2.7 billion) from the stake sale money that will help it meet the fiscal deficit target of 4.8% of GDP for the current fiscal year. The cabinet committee on economic affairs approved the sale of governmentâs 29.5% residual stake in HZL through an open market auction on 20 January. HZL, a subsidiary of London-based Vedanta Reosurces Plc, is the worldâs largest integrated producer of zinc. (Live Mint)
Singapore's Temasek plans to sell its 27.74% stake in First Flight Couriers: Temasek is looking to exit its 27.74% stake in Mumbai-based First Flight Couriers, after being invested in the company for more than six years, a person familiar with the matter told ET. YES Bank has been mandated to initiate talks with potential investors, and the process to seek a buyer for the stake has been on for some time, the person said. Rest of the stake is held by the promoter Saboo family. Singapore state investor Temasek bought 27.74% stake in the company for about Rs 107.5 crore. The promoter family might also have to divest some stake if the incoming investor looks at buying a majority stake. ()
Adanis close to buying Dhamra port: The Adani Group is a step closer to acquiring Odisha's Dhamra port, which secured the environmental clearance from the government last week. As its management consultant, the Adani Port and Special Economic Zone already looks after the operations of the port, which is a 50:50 joint venture between L&T and Tata Steel. The Gautam Adani-led group's Rs 5,000-crore ($798 million) deal is likely to be completed by early next month as the sellers would like the transaction to be reflected in their balance sheet to boost profitability before the year-end. (The Times of India)
Rajapalayam Mills plans to sell assets: Rajapalayam Mills Ltd. is looking to sell the assets arid liabilities of Rajapalayam Mills - Subramaniapuram Unit subject to the consent of the Members of the Company to be obtained by way of Special Resolution to be passed through Postal Ballot. The company has decided the proposed sale in its board meeting held on February 03, 2014. The present installed capacity of the Company is 1,46,480 spindles and the Installed capacity of Rajapalayam Mills - Subramaniapuram Unit is only 15,264 spindles. (BSE)
Courtesy: VCCEdge