The Airtel Net PC is a plug-and-play online computer, inclusive of a 15-inch LCD monitor, keyboard, mouse and Nivio companion (which enables the PC to connect to a backend Linux-run server for storage and applications) and priced at Rs 7,999 exclusively for Airtel broadband customers.
The prospect of a revival of the disinvestment agenda has prompted bureaucrats in the power ministry to revive plans for utilities to raise money from the markets, so that the government gains the opportunity to sell its shares.
Even with a clear mandate, the Congress-led United Progressive Alliance government is unlikely to allow foreign direct investment in sensitive sectors such as retail and may like to revisit the recently issued norms that give companies elbow room in dealing with the FDI norms.
The head of India's largest realtor is known as a businessman who likes to cut his losses.
The group also plans to nearly halve DLF's debt from Rs 13,958 crore to Rs 7,000 crore by the end of the current financial year by selling around Rs 5,500 crore worth of assets and raising Rs 2,000 crore from the DAL listing, said Singh. Wednesday's divestment will also help reduce DLF's debt by around Rs 1,500 crore since this amount will be given to DAL to repay part of the Rs 4,900 crore it owes the realtor, he added.
Strong response from institutional buyers has prompted the promoter family of India's largest real estate company DLF to raise the shareholding it had put up for sale from 100 million shares or 6 per cent to 168 million shares or nearly 10 per cent to raise Rs 3,850 crore from qualified institutional investors, including foreign investors.
The press notes, issued in February this year, simplified the method for calculating FDI and broadly stated that as long as Indian promoters hold a majority stake (that is, more than 51 per cent) in an operating-cum-investment company, they can bring in investments up to 49.9 per cent through FDI.
K P Singh and family, promoters of DLF, are in advanced stages of discussions with leading foreign institutional investors to sell 6 to 7 per cent in India's largest realtor to raise Rs 2,000 crore to Rs 2,500 crore.
Maytas Infrastructure Ltd, the listed company floated by the promoters of Satyam Computer Services, plans to raise Rs 800 crore to Rs 1,000 crore through asset sales plus loan and guarantees from banks to complete various projects, including the prestigious Hyderabad Metro, and to bid for some new projects that are coming up for auction.
Delhi International Airport Ltd, the five-company consortium led by Bangalore-based infrastructure conglomerate GMR Group that is upgrading Delhi airport, has managed to raise over Rs 1,000 crore (10 billion) to meet its financial obligations for the Rs 8,890-crore (80 billion) project.
A two-day board meeting of Maytas Infrastructure's six-member new board, which comprises four government-nominees, is likely to divest some projects nearing completion in a bid to raise funds to complete other assignments.
Market regulator Securities and Exchange Board of India (Sebi) is understood to be contemplating legal action against P S Saminathan, managing director and one of the promoters of Pyramid Saimira Theatre (PSTL), and Nirmal N Kotecha, another promoter of the company.
Jet Airways, India's largest privately-owned airline, has approached the US Exim Bank and European export credit agencies to reschedule a $2 billion loan (Rs 10,000-crore) loan that was raised to buy 27 Boeing and eight Airbus aircraft.
Wipro sees a silver lining in Q1; others say recovery by 2009-end.
The jury is still out on whether Tech Mahindra should retain the Satyam name. Srinivasan Swamy, CMD, R K Swamy BBDO, says. "Brand Satyam took a beating for only one reason -- accounting irregularities by its erstwhile chairman. The employees were not even aware of the fraud. The company's core values and foundation have not been impacted." The task for the new management, he believes, is to retain its clients and people and the brand image would get resurrected.
Though the family controls and runs DLF, CFO Ramesh Sanka is said to be playing a key role in mapping the group's future strategy -- including the move to, now, construct lower-cost housing.
State Bank of India has agreed to lend Vodafone-Essar, the joint venture between United Kingdom's Vodafone and Essar, Rs 10,000 crore to finance the company's entry into 3G (third generation) telecom services and expansion of its broadband operations.
Google allows users to phone a toll-free number and make a query. The 'voice search' uses a combination of automated voice recognition engine and operators to provide this facility. To make the service faster and better, Google is also experimenting with voice recognition technology, which will ensure 24-hour support. Currently, the automated system offers results in English, but the operator-driven system offers results in only Hindi and Telugu.
The company had invested around Rs 1,500 crore in the business; may exit at Rs 1,100 crore.
It's a digital prototype called "sixth sense" that is currently being evaluated by major companies like Microsoft, Google, Hewlett-Packard and Samsung. The brain behind this device is the 28-year-old Indian-born Pranav Mistry, a researcher at the Media Lab, Massachusetts Institute of Technology (MIT).
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