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.
The power sector holding firm of the Hinduja Group has formed a joint venture with German energy giant STEAG for the operation and maintenance of various power projects in 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.
Indian telecom major, Tata Communications Limited (Tata Comm), is likely to enter the bidding war for Cable & Wireless Worldwide (CWW). The British firm sells telecom and Internet services to major UK businesses.
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.
