TOP CORPORATE NEWS-3 january

                                                   

TOP CORPORATE NEWS

·        Vodafone in talks with Tata Group to buy stake in Tata Teleservices

Vodafone is in talks with the Tata Group to buy its controlling stake in Tata Teleservices for India's largest telco by subscribers.

·        Biocon's chief executive contender Bamzai quits

Biocon announced that Rakesh Bamzai, president (marketing) has decided to leave. Bamzai has played a major role in globalising Biocon in the US and Europe, from where the company gets bulk of its revenues.

·        Reliance Industries market turnover slips

The total market turnover in RIL stock dropped to Rs 75,817.60 crore at the end of 2013, due to lower gas output.

·        Maldives May revive GMR project to guard Indian investment

Maldives is in talks with GMR whose over US$500mn Male airport project was scrapped, for an out-of-court settlement and not through arbitration.

·        Tata Motors falls post December sales numbers

Tata Motors was down 2.4% after reporting a 42.28% year-on-year decline in its total vehicle sales at 37,852 units in December 2013. The company had sold 65,582 units in the same month last year.