TFCI to raise funds
The Tourism Finance Corporation of India (TFCI), a subsidiary of IFCI, will raise over Rs 63.82 crore by making preferential allotment to six financial institutions, including the State Bank of India. TFCI’s board has approved the allotment of 1.32 crore shares at a price of Rs 48 each, aggregating Rs 63.82 crore, the company informed the Bombay Stock Exchange.
Hyundai Accent GLE has been selected by the Directorate General of Supplies & Disposals for usage by all government departments across the country. The company, which sells around 1,000 units of the Accent GLE per month, expects that this move will increase the model’s sale. The car will be supplied to all government agencies at the Union and state levels at a special rate.
Synergy Log-in Systems Ltd has posted a 57.87 per cent rise in net profit at Rs 56.39 lakh for the six-month period ended December 2007 against Rs 35.72 lakh a year ago. Turnover for the reporting period stood at Rs 2.05 crore compared with Rs 1.87 crore in the corresponding period of the previous fiscal.
Wipro has won a five-year $50-million IT outsourcing contract from Pantaloon Retail (India) Ltd. Wipro will roll out and manage IT operations across all Pantaloon outlets, deliver infrastructure management and application support services.
Tata AIG Life has launched Health Investor, a critical illness cover with return of premium. The plan provides cover against 12 critical illnesses and surgeries and pays an amount on the first diagnosis of a critical illness or first performance of any surgery.
Centurion Bank of Punjab (CBoP) has bagged two awards at the Global HR Excellence Awards 2008 given at the Asia Pacific HRM Congress held in Mumbai. The bank was awarded in the “Organisation with innovative HR practices” category.
Yamaha has launched its sports bikes — Gladiator Type SS and Type RS — in the country. The 125-cc bikes come with four-stroke, 11-bhp engines. The bikes will be priced at Rs 46,350 onwards (ex-showroom).
YEN Expo Pvt Ltd will organise a private equity fair at Grand Hyatt, Mumbai on February 27. The fair will provide B2B platform to over 25 companies to showcase their business and growth plans to around 150 private equity funds in India and abroad.
Britannia Industries Ltd has reported a net profit of Rs 45.4 crore in the quarter ended December 31. Sales stood at Rs 656.4 crore in the quarter.