2. Shriram, TPG to buy Vishal for Rs. 100 crore Vishal retail would sell its retail trading business to Chennai – based Shriram Group, and the wholesale division to the provate equity firm TPG. Combined value of the deal is Rs. 100 crore. Shriram is a diversified group which focuses on areas like financial services, property and engineering services.
3. Contd… Vishal Retail, one of India’s largest discount chains got into financial trouble about a year ago, with a pile up of Rs. 730 crore in debts. The company operates retail outlets across India under brands like Vishal, Vishal Retail, Vishal Mega Mart and Vishal Fashion Mart.
4. Big price swings may go with launch of WPI Calculation of Inflation in India will undergo a change. The base year against which price rise is measured is being shifted from the current base of 1993-94 to 2004-05, starting from monthly inflation data for August. The change in base would improve the accuracy and make the index less prone to fluctuations.
5. Contd… More than 200 products such as refrigerators, televisions, communication equipment, precious metals, petrochemicals and automobile parts will be added to the expanded WPI. 200 outdated items will also be dropped.
6. HP to buy ArcSight for $ 1.5 billion HP – Hewlett Packard, the world’s largest personal - computer maker California - based HP agreed to buy ArcSight for about $1.5 bn in cash to gain security software. The deal follows purchases by Hp in the areas such as services, networking equipments and smartphones, lessening its dependence on lower-margin computers and servers. ArcSight, a software maker used to identify suspicious activity on a corporate network.
7. Contd… Intel Corp. agreed last month to pay $7.68 billion for McAfee Inc., a provider of programs that protect computers from viruses and malware. The chip maker paid a 60% premium, underscoring the growing importance of computer security.
8. Metro Cash & Carry to start operations in Punjab next year Metro Cash & Carry is German Retailer. It will make its two wholesale distribution centers at Zirakpur and Ludhiana operational by mid-2011. Two more distribution centers at patiala and Jalandhar would be launched by the end of 2011. The wholesale retailer signed a MoU with the Punjab Govt in 2009 to open six such stores over the next few years and committed an investment of Rs. 900 crore in the state.
9. Cond… The group had already set up two such distribution centers each at Hyderabad, Bangalore besides one each at Kolkata and Mumbai. The stores across the state would result in creation of over 1,000 jobs for local youth.
10. ZTE bags $200-m RCOM contract ZTE Corp. is a leading Chinese Telecom Equipment supplier. After having a recent Rs. 300-crore WiMAX deal with BSNL, ZTE has clinched a near Rs. 920 crore contract from Anil Ambani’s RCOM to supply a mix of 3G and 2G gear in 8 circles.
