Volvo India move

Mumbai, April 17: Volvo’s wholly owned subsidiary in India will buy the road development business of Ingersoll Rand for a consideration of not less than Rs 231.82 crore. Ingersoll Rand has informed the bse that an extraordinary general meeting will be held on April 28 to seek shareholders’ approval on the sale. The proposed sale includes all fixed assets located at Ingersoll’s establishment at the Peenya industrial area in Bangalore, movable assets and other liabilities.

Deora visit

Mumbai, April 17: Petroleum minister Murli Deora, accompanied by the chiefs of ONGC, Indian Oil and GAIL, is leaving tomorrow for a seven-day tour to scout for opportunities in Syria, Algeria and Egypt.

uti Goldshare

Mumbai, April 17: uti Goldshare has set a target of raising the assets under management to Rs 750 crore by the end of this year. The fund was listed on the National Stock Exchange today.

Rupee dips

Mumbai, April 17: The rupee today eased marginally and ended at 41.98 against the dollar, lower than yesterday’s close of 41.92 due to dollar purchases by importers and oil companies.

L&T pact

Mumbai, April 17: Larsen & Toubro (l&t) will set up a boiler manufacturing facility along with Mitsubishi Heavy Industries. The companies have signed a joint venture agreement.