Sanyo, BPL in tie-up
Sanyo Electric Company of Japan and BPL have announced a new joint venture company, Sanyo BPL Private Ltd. Both BPL and Sanyo will be 50:50 equity partners in this venture. The new company aims to become one of India's leading and technologically advanced consumer electronics firm. BPL will transfer its existing business undertakings, including the colour TV business, to Sanyo BPL . Sanyo will provide the technological know-how.
Reliance Infocomm has come out with a new offer for Bengal, Bihar and Jharkhand. Called Go Mobile for Rs 799, the offer includes an LG 2430 handset, priced at Rs 1,799, with a free talk time worth Rs 1,000. This offer is available on all new connections of RelianceIndiaMobile . The free talk time will be credited to the subscriber's account at the rate of Rs 200 per month and the facility can be used to make calls to any mobile or landline anywhere in India.
Punjab National Bank has paid Rs 54.67 crore dividend to the Government of India for the half year ended September last. The bank's chairman, S.C. Gupta, has handed over the dividend cheque to the Union finance minister, P. Chidambaram. The bank has earned a net profit of Rs 780.20 crore during the first six months of the current financial year.
Investec Bank (Mauritius) has signed a deal with Misys Banking Systems to use its Bankmaster Plus core banking solution. Misys will configure, build, install and implement the banking software solution for Investec's all lines of business, including private banking, treasury and strategic finance.
Bartronics India has decided to tap the capital market on December 20 with an initial public offering of 65 lakh equity shares of Rs 10 each. The price band for the 100 per cent book-built issue has been pegged at Rs 63-Rs 75. The issue closes on December 24.
Sonata software has launched SonnetBI packaged analyser suite catering to the analytic and reporting needs of enterprises. Built on Microsoft SQL Server 2005, SonnetBI covers areas such as finance, sales, promotion, procurement, inventory and production.
Carborundum Universal has set up a 100 per cent subsidiary in Ras al Khaimah Free Trade Zone in UAE for marketing its products in the Gulf countries. Once the marketing operations stabilise, the company will also consider setting up manufacturing operations there.
Zandu Pharmaceutical Works will pay an interim dividend of Rs 35 per equity share, the company has told BSE.