Tata Motors to buy Ford India’s Plant in Gujarat
Tata Motors’ subsidiary, Tata Passenger Electric Mobility Ltd (TPEML), and Ford India Private Limited (FIPL) have signed a Memorandum of Understanding (MOU) for the potential buying of FIPL’s Gujarat based Sanand vehicle manufacturing facility. This includes...
Singtel Plans $1-2bn Stake Sale in Bharti
Singaporean telecom company Singtel Group is planning to sell a $1-2bn stake in Bharti Airtel to the latter’s Chairman Sunil Mittal family as per sources. Bharti Telcom is the promoter company of Bharti Airtel with a 35.85% holding. Since 2000, Singtel has been...
Indian Steelmakers May Suffer Losses on European Deals over Export Taxes
The Government of India on Saturday unexpectedly imposed an export tax of 15% on eight steel products. Thus, companies like Tata Steel, Jindal Steel and Power Ltd. (JSPL), JSW Steel, SAIL, ArcelorMittal, Nippon Steel India etc. may be forced to cancel European orders...
Future Group’s Sale of Insurance Business Helps Banks Recover Some Money
Future Enterprises Ltd (FEL) has sold a 25% stake in its general insurance joint venture (JV), Future Generali India Insurance Co Ltd (FGIICL) to its JV partner, Generali Participations Netherlands N.V. for consideration of INR 12.66bn ($160mn). On receipt of key...
