Kitara Capital Invests Rs 78 Cr In Tvs Asl

CHENNAI: TVS Automobile Solutions (TVS ASL), a group company of industrial conglomerate, TVS Group, has announced the investment of Kitara Capital, a Muscat-based firm in the company. Kitara Capital has invested about Rs 78 crore for a minority stake in TVS ASL.
As per as reports, TVS ASL will take over the business of multi-brand car services that was earlier provided by group entity, My TVS. My TVS was operated through two verticals — MyTVS 24X7 Emergency Road Assistance and MyTVS All Car Service.
Mr R Dinesh, TVS & Sons Joint MD and TVS ASL director, said, “This is the second group company to have attracted PE investment.”
Earlier in 2008, the first group company to attract $25 million (Rs 100 crore) private equity was TVS-Logistics from Goldman Sachs. TVS ASL will seek to establish a strong partnerships with vehicle and parts manufacturers.

Pvr To Foray Overseas Market Soon

MUMBAI: PVR Cinemas is on a lookout for potential options in order to extend its existing portfolio in overseas operations. The company has planned to roll out special theatres based on management contracts in order to accomplish the same.
Post this expansion, PVR Cinemas would become the second Indian media and entertainment player to make its international presence felt in overseas markets. The first one to do the same is Big Cinemas by Anil Ambani that already has its theatres working in United States as well as Malaysia.
"We will be present in at least 27 cities by the end of this fiscal. By then, we will have around 242-screens. The new additions this year would be cities like Kolkata, Howrah Ranchi and Patna," said, Pramod Arora, President, PVR Group. At present, the company already has access to as many as 142 screens across 18 cities all over India, which is soon to be followed by 80-100 more screens as a part of their expansion.

Crisil Upgrades Credit Ratings Of Vip Industries

MUMBAI: The rating agency Crisil has reviewed and upgraded the Bank loan ratings of the VIP Industries Ltd.
The agency has upgraded the rating to A+/Stable from A-/Stable (a two notch improvement) for cash credit facilities & term loan and to P1 from P2+ for short term loan.
VIP Industries Limited engages in the manufacture and sale of luggage products and accessories in India and internationally. It provides travel products, hard and soft-sided luggage, bags, backpacks, duffels, shoulder bags, waist pouches, sling bags, duffel trolleys, vanity cases, office bags and satchels, suitcases, and briefcases.
The company offers its products primarily under the VIP, Carlton, Delsey, Footloose, Alfa, Aristocrat, Skybags, and Buddy brands. It also manufactures molded furniture under the Moderna brand.

Crisil Keeps 'Aa+/Stable' Rating On Birla Corporation

KOLKATA: Rating agency Crisil, has reaffirmed the "AA+/Stable" (pronounced "double A plus with stable outlook") rating Birla Corporation Ltd, the flagship of the MP Birla empire.
The rating indicates high degree of safety with regard to timely payment of interest and principal on the instrument.
The rating has been assigned to the proposed issue of long term non-convertible debenture programme of up to Rs. 500 crore of the company.
Birla Corporation Limited, together with its subsidiaries, primarily engages in the manufacture and sale of cement. The company’s Cement division offers various cements, such as ordinary portland cement, 43 and 53 grades, portland pozzolana cement, fly ash – based PPC, low alkali portland cement, portland slag cement, low heat cement, and sulphate resistant cement under the Birla Cement SAMRAT, Birla Cement KHAJURAHO, Birla Cement CHETAK, Birla Cement, and Birla Premium Cement names.

Inventum Bags Best Stall Award In Kolkata Cable Tv Show

KOLKATA: Inventum has won the best stall award in the single category at the three day Cable TV Show 2011 held here. The major cable operators,traders, manufacturers,channel partners,distributors and multi-system operators participated in the show from across India,Bangladesh,Bhutan and Nepal.
Inventum, a provider of Bandwidth Management and Billing solutions, has displayed its UNIFY SMP, MSG Gateways and MSC Controller range of solutions.
More than 10,000 cable operators, traders, manufacturers, channel partners, distributors, broadcasters and multi-system operators (MSOs) had participated in the show. A special demo room at the Cable TV Show 2011 showcased the evolution of cable TV in India from the black and white era to the current 3D technology.

India Can Become Milk Importer: Economic Survey

NEW DELHI: The city-based Ansal Properties & Infrastructure, has entered into a joint venture with Real estate private equity firm Red Fort Capital for the expansion of a residential township in Gurgaon.
According to the statement issued by Red Fort, the company will pump in Rs 200 crore in the project.
Beside expansion, the JV will develop an additional 108-acre township project adjacent to Ansal’s existing 112-acre Esencia township project in Gurgaon.
In June, 2010, Ansal Properties has raised Rs 58 crore ($12 million) through a preferential allotment to a string of high net worth individuals besides financial services firm Enam Investment Services.
Ansal Properties & Infrastructure Limited operates as a realty business. It develops integrated townships, and mixed-use and stand alone developments in residential, commercial, retail, and hospitality segments, as well as engineering SEZs, IT/ITES, and industrial parks.

Shortage Would Be Resolved Soon: Chandrasekaran

CHENNAI: M Chandrasekaran, Director, ISM, Tamil Nadu, has issued a statement in context with the chaos in state hospitals on account of supply shortage of medicines, stating that certain effective measures are taken in effect, and the problem would soon be resolved in the next few months..
The Director further revealed that he paid a visit himself to a number of hospitals across the state in order to make sure that the requirements for medicines are met properly. In addition, he is even in talks about few plans which would transform the current ISM into a modern centre of Indian medicines.
However, he said the process would take some time and a solution would be eventually provided for the concern issue well in time. “We will not delay anything from our end. But we have to comply with the rules and regulations of Ayush department,” said, Chandrasekaran. On the other hand, the health department of the state is suffering from acute shortage off late, leading the need for Secretary to look into the concern matter and issue a statement.