Yes Bank move
Yes Bank has completed the infusion of Rs 120 crore ($26.5 million) in its equity capital from Zurich-based Swiss Reinsurance Company (Swiss Re). The infusion of equity capital of Rs 120 crore, which includes private placement of 10 million equity shares to Swiss Re, has received necessary approvals from the Reserve Bank (RBI) as well as its shareholders.
Dubai-based Hot Brands International has entered into an agreement with Dabur Foods Ltd to develop Hot Brands outlets in the Delhi and NCR region. The companies will introduce quick service restaurant brands in the region.
Escorts Ltd’s turnover in the year ended September 2006 rose 72 per cent to Rs 1,750 crore from Rs 1,015 crore a year ago. Operating EBIDTA was Rs 107.31 crore. Profit before tax was Rs 34.44 crore against Rs 24.82 crore a year ago.
Rediff.com India Ltd has acquired a minority stake in Tachyon Technologies, a Bangalore-based software firm for an undisclosed sum. It is part of Rediff’s efforts to boost its competitiveness by investing in start-up companies.