Thursday, February 21, 2013

Azim's pledge to philanthropy!

Corporate/General News

Azim Premji pledges more contribution to philanthropy!

Air Asia and Tatas form a new Joint Venture!

Posco India is to get 1554 acres from Odisha government for setting up a mega steel plant in Jagatsinghpur district. The government has already handed over 546 acres and very soon this additional 1554 acres will be given to the company.
Export of agri-seeds from the country is likely to be doubled to Rs.1000crores in the next 2-3 years, because, as many as 38 varieties from the country have been registered in the OECD list, NSA said.

There is a possibility of an early polls this year, feels M.Venkaiah Naidu, senior BJP leader. He says, “Congress- led UPA government was seriously thinking of going for an early election after presenting a pro-people budget so that it can fetch votes”.

“To tackle the hard technology problems facing business today”, Infosys Limited and Australia’s premier ICT research organization NICTA have signed a joint collaboration agreement. The potential outcome of the collaboration, the companies feel, could see ageing technology systems readily modernized for the cloud. “Logistics department could find faster and greener transport routes” they feel.

Petrol and diesel prices have been hiked by Rs.1.50 per litre and 45 paise per litre respectively.

With a view to pacify the lenders of Kingfisher Airlines, the parent company UB Group has said that it would find an early solution to the financial mess of the Airlines.

The India Australia series looks to turn out to be a money spinner for broadcaster ‘Star Sports’. It has been able to rope in top advertisers including Hero Motor Corp. It may be recalled that Hero Motor Corp has recently decided to sever the relationship with IPL and Mumbai Indians.

Ford India has launched a new variant of its sport utility vehicle “Endeavour”, which is priced at Rs.23.2 lakhs ex-showroom, New Delhi. This launch comes when the company is trying to increase its reach in the country to boost sales. The company has also announced its association with National Geographic Channel for a 5-part series featuring 5 celebrities and the latest variant “Endeavour Alterrain”.

Wipro Chairman Azim Premji has pledged to contribute more of his wealth to philanthropic activities. This will be through the Azim Premji Foundation. The exact amount he is going to contribute has not been specified. However, it may be recalled that in the year 2010, he donated around $2 billion representing 8.7% of the total stock of Wipro from his personal holding for philanthropy.

Unilever, a major FMCG, is to set up a deodorant manufacturing plant in Khamgaon, Maharashtra. For this purpose, the company is proposing to invest Rs.360 crores.

Air Asia and Tatas join to form a new venture. And it is reported that Chennai will house the headquarters of the joint venture.

Market this week so far!

Market this week so far!

The week started with market looking upwards. While on Monday, Sensex and Nifty gained 33 and 11 points to close at 19501 and 5898 respectively, the market went up still further on Tuesday. On Tuesday, Sensex gained 135 points to close at 19636 and Nifty gained 42 points to close at 5940. On Wednesday, both Sensex and Nifty made very negligible gains of 7 and 3 points respectively to close at 19643 and 5943. 

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