2. ZF Hero in talks with Suzuki, Honda to supply parts in India ZF Hero Chassis Systems , a joint venture between Hero Motors and Germany's auto component major ZFis in talks with Suzuki and Honda to supply components in India. The company, which currently supplies axle assembly to General Motors India, also said it will be investing Rs 100 crore to set up a new plant as part of an expansion strategy in India. The company currently has a production capacity of about 50,000 tones annually from its two existing locations. The new plant will increase it by up to 70 per cent .
3. Continued….. Hero Motors provides engineering services for the automotive industry, including development and design, and also produces chassis components, including axle systems. ZF on the other hand, is a leading worldwide automotive supplier for driveline and chassis technology.
4. RBI sells almost all its stake in NABARD to Government The Reserve Bank of India divested its stake amounting to Rs 1,430 crore in National Bank for Agriculture and Rural Development (NABARD) on October 13, 2010. With this, the Reserve Bank's holding in NABARD has come down to 1% of shareholding in NABARD. The Government of India now holds 99% of the stake.
5. Continued…….. The Reserve Bank held 72.5% of equity in NABARD amounting to Rs 1,450 crore. The remaining shareholding worth Rs 550 crore was with the Government of India.
6. GSM operators add 12.4 mn new subscribers The total number of GSM-based mobile phone users in the country has gone up to 494 million with the addition of 12.4 million new users by telcos in September. BSNL registered 2.3 million subscriber additions, the highest amongst all the telcos during the period, taking its total user base to 72.6 million. Uninor garnered the second highest number of new users in September, taking its base to over 11.2 million in the 13 circles.
8. E-land close to buying Mudra Lifestyle South Korea-based $7-billion textile chain E-land is acquiring Mumbai-based MudraLifestyle. South Korean major has agreed to buy a minimum 51% stake in Mudra Lifestyle which can go up to 67% after the open offer. The total deal size is expected to be over Rs 200 crore.
