Subex stake sale

Mumbai, Feb. 9: Co-promoter Alex P J of the Bangalore-based Subex Systems has sold his 14 per cent stake to institutional investors. On the Bombay Stock Exchange today, the Subex stock dipped to an intra-day low of Rs 360 after opening at Rs 419. However, it closed at Rs 422.35 in a gain of Rs 6 over the previous day.

Bharti move

New Delhi, Feb. 9: Bharti today announced restructuring of its management for the mobility business under which it has set up an eight-member board. It is to be headed by Manoj Kohli, president, mobility.

UBI bonds

Calcutta, Feb. 9: United Bank of India?s Rs 300-crore bonds issue to raise capital towards tier-II was foreclosed today, seven days before schedule, because of oversubscription.

HSBC Global

Mumbai, Feb 9: The HSBC Global Investment Fund (Mauritius) has acquired additional 27 lakh shares of Associated Cement Companies Ltd on February 7. The fund?s shareholding in ACC now stands at 1.11 crore shares, representing 6.27 per cent of the company's total paid-up capital.

Income rise

New Delhi, Feb. 9: An average Indian will see only 5.2 per cent rise in income at Rs 12,414 though the economy is expected to log 6.9 per cent growth this fiscal, according to the Central Statistical Organisation.