Intel IT Update
ABB opts out of Videocon power project ABB Alstom has sold its 26% stake in the Rs 6,500 crore North Madras II thermal power project being promoted by Videocon International and National Power. Gujarat Ambuja draws up defence, says it has not taken control of ACC Gujarat Ambuja Cements is readying its defences to demolish the argument that there has been a "change in management control" at ACC following its acquisition of a 7.2% stake from the Tata group and the appointment of its MD, NS Sekhsaria as deputy chairman of ACC. Tata Tea takesover Tetley for £271m The Tatas have clinched the largest-ever cross-border acquisition in corporate India with Tata Tea finally announcing that it is acquiring the UK-based Tetley group for £271 million. The agreement was signed on Saturday. Cement firms in south to hike rates by Rs 7 per bag Cement manufacturers in south, backed by a sharp increase in offtake, have firmed up plans to effect yet another hike, post-budget. The quantum of increase, expected to be around Rs 5 to Rs 7 per bag, may take effect from March 1. Sinha may offer Rs 1,400cr recap for Indian Bank Finance minister Yashwant Sinha is expected to announce the paring of RBI's stake in the SBI from 55%. The announcement on slashing Government stake in public-sector banks to below 49% may, however, not find a place in the budget. Nokia puts Net in the pocket If technology pundits at Nokia, the Finnish mobile-phone maker, are to be believed, you can soon say goodbye to your PC.
ABB opts out of Videocon power project
Gujarat Ambuja draws up defence, says it has not taken control of ACC
Tata Tea takesover Tetley for £271m
Cement firms in south to hike rates by Rs 7 per bag
Sinha may offer Rs 1,400cr recap for Indian Bank
Nokia puts Net in the pocket