Indian automotive major, Mahindra & Mahindra, has announced two major joint ventures in the defence sector that will target revenues of around $1 billion over the next 10-year period.
The JV with Israel's Rafael Advanced Defense Systems will develop and manufacture naval systems at a factory in Pune, western India.
Indian software major Tech Mahindra has completed its takeover of Satyam Computer Services Limited in a stock deal valued at around $1 billion. The merger will create India's fifth-largest software exporter with annual revenues estimated at $2.4 billion and more than 350 clients across different geographies and industrial sectors.
London-listed Indian mining giant, Vedanta Resources, has offered an estimated $3.2 billion to buy the Indian government’s stakes in Hindustan Zinc Limited and the erstwhile Bharat Aluminium Company.
Vedanta chairman Anil Agarwal said: “They have asked for the offer.
London-listed Indian mining giant, Vedanta Resources Plc, plans to streamline its structure by placing all but one of its subsidiaries under a single unit.
The re-structuring is part of its efforts to improve access to cash and cut its debt burden after a $8.67-billion purchase of oil producer Cairn India Limited.