The Telegraph
Since 1st March, 1999
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Business Briefs

Aftek buys 49% in Arexera

Mumbai, May 30:Aftek Infosys Ltd has acquired a 49 per cent equity stake in Munich-based Arexera Information Technologies GmbH in an all-cash deal for a consideration of € 8.86 million. Aftek retains the right to acquire 100 per cent equity in Arexera over the next three to four years. The acquisition is expected to help Aftek secure sizeable service contracts from Arexera’s clients, including Siemens, BMW, Axel Springer Publishing among others.

Tax returns

New Delhi, May 30:The Central Board of Direct Taxes has extended the last date for submitting income-tax returns for this fiscal in electronic format to September 30.

FDI proposals

New Delhi, May 30:The government today cleared 21 foreign direct investment (FDI) proposals worth Rs 35.55 crore. Advanced Mineral Asia’s Rs 27-crore proposal to acquire shares in its Indian venture was also cleared.

Principal plan

Mumbai, May 30:Principal Financial Group has decided to increase its shareholding in IDBI Principal Asset Management Co to 100 per cent. Currently, IDBI and Principal Financial each has a 50 per cent stake in the joint venture. Principal will also increase its stake to 100 per cent in IDBI Principal Trustee Company Ltd.

Eterno launch

Calcutta, May 30:Honda Motorcycle & Scooter India (HMSI) today unveiled the Eterno, its first 150-cc geared scooter. It is available at an ex-showroom price of Rs 31,000.

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