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Business Briefs

Bajaj Auto move

New Delhi, April 16: Bajaj Auto has hiked its stake in European motorcycle manufacturer KTM Power Sports AG to 35.67 per cent with an additional investment of 20 million euros (about Rs 120 crore). The Pune-based firm had a 31.92 per cent stake in KTM that was hiked by participating in a 42.99 million euros capital increase exercise undertaken by the latter.

Indigo float

Mumbai, April 16: Budget carrier Indigo has hired Citigroup, Credit Suisse, Morgan Stanley and UBS for an initial public offering to raise about $400 million, sources said. The IPO plans are still in the initial stages and the company will list after about six months.

BRIC banks

Brasilia, April 16: The state-run banks of Brazil, Russia, India and China (BRIC) have entered into a pact to enhance trade and economic cooperation. The four countries have also agreed to develop a scheme to provide financing and banking services for investment projects and study the feasibility to set up an inter-bank entity.

Satyam ruling

Hyderabad, April 16: A city court has dismissed the petitions of Price Waterhouse auditors S. Gopalkrishnan and Talluri Srinivas — two accused in the Satyam accounting fraud — seeking issuance of directions to the CBI to defreeze their savings bank accounts.

SBI offer

Mumbai, April 16: The State Bank of India has extended its concessional interest loan offer to farmers, under which it gives loans at 8 per cent interest against warehouse receipts, till June 30.

Dr Reddy’s

Hyderabad, April 16: Dr Reddy’s Laboratories has voluntarily recalled 78,876 bottles of 2mg and 4mg Risperidone in the US because of out-of-specification results observed during testing.

Air India

New Delhi, April 16: The National Aviation Company of India has selected SITA, the aviation IT specialist, to provide its hosted horizon passenger services system to Air India on a turnkey basis.


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