Company Updates

Piramal sells 11% stake in Vodafone India to its British parent

Piramal sells 11% stake in Vodafone India to its British parent

Piramal Enterprises Ltd's sale of 11 per cent stake in Vodafone India to its British parent Vodafone Group plc is consistent with the company's objective of making investments that generate attractive long-term returns, Ajay Piramal said.

U.K.-based telecom services provider Group plc has agreed to buy Piramal's 11 per cent stake in its India subsidiary for Rs 8,900 crore. Following the transaction, the British telecom giant will gain full control of the Indian unit.

Collaboration between TVS and BMW Announced on Monday; Line of Products to be Launched by 2015

Collaboration between TVS and BMW Announced on Monday; Line of Products to be La

Considering the falling market share value of TVS Motor Co Ltd, a tie-up has been decided among BMW AG's motorcycle division and the Indian automaker.

On Monday, it has been announced that both these divisions will collectively develop bikes. This way, TVS Motor Co Ltd will get the right to use BMW technology which would further result into shooting up of its market share value.

The main purpose behind this deal was to help TVS refurbish an old-fashioned product and give a quality competition to brands like Honda Motor Co and Yamaha Motor Co.

Virtual Dressing Room will be Available soon on Myntra

Virtual Dressing Room will be Available soon on Myntra

Myntra - the online fashion and lifestyle products retailer said in a statement that it has acquired FITIQUETTE - San Francisco-based technology platform provider. Though, Myntra has not disclosed the amount yet, but said that the acquisition was partly done by cash and partly done by stock. The company is of the view that technology innovation offered by FITIQUETTE will be able to solve issue of online shoppers related to size and fit.

L&T Bags Contract Worth Rs 1,400 crore in Abu Dhabi

L&T Bags Contract Worth Rs 1,400 crore in Abu Dhabi

Larsen and Toubro, an engineering major, has revealed that it has bagged a contract worth 943.11 million UAE dirham (nearly 1,400 crore) to develop a midfield complex at the Abu Dhabi International Airport. Abu Dhabi Airport Company has awarded the contract to L&T.

The contract is the part of company's plan to expand the Abu Dhabi international Airport. L&T will be building the hard stands of aircraft parking around the new midfield terminal building. It also includes contact and remote stands.

Air India puts up Dreamliners for sale, leaseback

Air India puts up Dreamliners for sale, leaseback

State-owned carrier Air India has decided to put all of its recently acquired six Dreamliner 787 aircrafts up for sale.

Air India has a fleet of six Dreamliners that it took delivery of in 2012. One more Dreamliner is scheduled to join the fleet in a few months.

The carrier has invited quotations from lessors on or before February 5 on a Request for Proposal. In its recently issued bid document, the carrier said it would lease Dreamliners back from the purchasers for a minimum of 12 years immediately after the sale.

T-Mobile announces release date for HTC One S

T-Mobile announces release date for HTC One S

US carrier T-Mobile has confirmed that HTC's One S smartphone, formerly called the HTC Ville, will available from 25th of April.

To be available for $199.99 with a service contract, the HTC Ville runs Google's Android 4.0 (Ice Cream Sandwich), and features 4.3-inch qHD 960 x 540 Super AMOLED display.

Its rear-facing 8-megapixel camera comes with LED flash and a prominent lens circled by blue trim. The high-definition 1080p camcorder allows users to capture HD video as well as still images simultaneously.

Yahoo lawsuit complicates looming Facebook IPO

Yahoo lawsuit complicates looming Facebook IPO

With the patent-infringement lawsuit filed by Yahoo against Facebook evidently hinting at the aggressive strategy being followed by the new Yahoo CEO Scott Thompson - who took over the reins of the company in January -, the legal proceedings have clearly put Facebook in a somewhat awkward position, complicating the looming launch of the social network's initial public offering (IPO) expected in May.

Apple wins important victory against Motorola in Germany

Apple wins important victory against Motorola in Germany

Apple won an important victory in its ongoing patent war with handset maker Motorola Mobility as a Germany court suspended the enforcement of a ruling that might allow Motorola to bar the Cupertino firm from using its "standard-essential patents" in Germany.

The Karlsruhe Higher Regional Court suspended the enforcement of a ruling by the Mannheim Regional Court, and prevented Motorola from further enforcement of its standard-essential patent injunction the iPhone/iPad-maker.

Zune brand to be replaced with "Xbox Live for Windows" in Windows 8

Zune brand to be replaced with "Xbox Live for Windows" in Windows 8

Windows 8, the next-generation of Microsoft's flagship operating system, will rename "Windows Live ID" as "Microsoft Account" and replace Zune music & video service brand with "Xbox Live for Windows" name, according to a report by The Verge.

The Verge also reported that Windows Live applications will be a component of a bundle of "Windows Communications" preinstalled apps in the Windows 8.

It means Windows Live brand will finally be killed off. The brand remained confusing as it combined applications and services which had little to do with one another.

BAE Systems may move some business overseas

BAE Systems may move some business overseas

BAE Systems, Britain's leading defence equipment manufacturer, has little option but to move some of its expertise overseas to make up for wide cuts in spending in the UK and US.

Analysts believe that BAE shall have to move some of its business to foreign countries if it wants to break into new markets.

Speaking on the topic, a defence analyst said, "They are going to have to do something tangible in return for breaking into new markets and keeping customers and that means shifting more manufacturing abroad."