Spencer’s widens reach

UTV deal

UTV Software Communications has announced the closure of its preferential allotment to The Walt Disney Company. The committee allotted 93,52,500 equity shares of Rs. 10 each at an issue price of Rs. 860.79 per equity share aggregating to around $203 million. The promoter group has also subscribed to 45,32,000 warrants at the same issue price. With this the promoter group and Disney will have an equal stake of 32.10 per cent in UTV.

Genpact net

Genpact Ltd’s revenues for the first quarter ended March 31, 2008 stood at $234.4 million, a rise of 33 per cent over that of the corresponding quarter in the previous fiscal. Net income increased 966 per cent to $19.7 million from $1.8 million in the year-ago period.

Union Bank

Union Bank of India (UBI) has posted a net profit of Rs 521.13 crore for the quarter ended March 31 compared with Rs 228.58 crore in the corresponding period of the previous fiscal.Total income increased to Rs 2,913.10 crore in the fourth quarter of this fiscal against Rs 2,336.72 crore in the year-ago period.

Arvind tie-up

Arvind Brands has joined hands with Hartmax Corporation. Besides Hart Schaffner Marx Suits, the agreement would also enable Arvind Brands to retail Pierre Cardin shirts and suits and Sansabelt trousers. The new line brands would hit the stands in New Delhi, Mumbai and Bangalore around November or December this year.

Tata contract

Tata Consultancy Services (TCS) has renewed its IT management services contract with Virgin Atlantic Airways till 2011. Under the renewed pact, the Tata group firm will continue to manage Virgin Atlantic’s global IT systems including the infrastructure and application support services.

Samsung

Samsung India Electronics has launched Super-WriteMaster SH-S223, a DVD writer, in India. The product includes free software, enabling users to create music, video, photo and data discs.

Titan launch

Titan Nebula has launched the Duet collection for the wedding season that comprises three pairs of gold watches in leather and gold straps. The collection is priced between Rs.30,500 and Rs.1,35,000.