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Business Briefs

Fortis growth plan

Mumbai, Dec. 27: Healthcare major Fortis Hospitals plans to invest Rs 250 crore over the next financial year to expand its facilities in three metro cities. “We plan to invest Rs 250 crore in Calcutta, Mumbai and Bangalore. This investment will be done over the next financial year,” Fortis Hospitals chief executive officer Vishal Bali said. With this investment, Fortis plans to set up multi-specialty hospital projects each in Calcutta with 414 beds and Bangalore with 120 beds, besides expanding its existing facility in Mumbai.

Oriental Bank

New Delhi, Dec. 27: Five years after acquiring Hyderabad-based Global Trust Bank, the Oriental Bank of Commerce has begun the hunt for another lender in south India to expand its footprint. The bank has a strong presence in the northern region. To strengthen its position in the south, it will go in for inorganic growth if some good opportunity came up.

DoT hope

New Delhi, Dec. 27: The department of telecom (DoT) is hopeful that the defence ministry will release more spectrum for 3G radiowave auction scheduled for next month.

Nano

New Delhi, Dec. 27: Tata Motors has said all existing bookings of the Nano will be delivered at current prices, despite the rise in input costs.

Farm sops

New Delhi, Dec. 27: The government should give more incentives such as low-cost loans and tax sops to encourage the use of agricultural machinery and boost foodgrain production, a Ficci-Yes Bank study said.


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