Equities Correspondent, New Delhi
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Jul 25, 2014

Wipro shares fall as U.S. revenue growth lags rivals

MUMBAI (Reuters) – Shares in Wipro Ltd (WIPR.NS: Quote, Profile, Research) fell as much as 8.1 percent on Friday after India’s third-largest IT services exporter reported quarterly revenue growth in its key U.S. market that lagged its larger rivals.

Wipro competes with Tata Consultancy Services Ltd (TCS.NS: Quote, Profile, Research) and Infosys Ltd (INFY.NS: Quote, Profile, Research) in India’s more than $108 billion IT outsourcing industry and the United States is the biggest market for all three companies.

Jul 25, 2014

India’s Wipro shares fall as U.S. revenue growth lags rivals

MUMBAI, July 25 (Reuters) – Shares in Wipro Ltd
fell as much as 8.1 percent on Friday after India’s
third-largest IT services exporter reported quarterly revenue
growth in its key U.S. market that lagged its larger rivals.

Wipro competes with Tata Consultancy Services Ltd
and Infosys Ltd in India’s more than $108 billion IT
outsourcing industry and the United States is the biggest market
for all three companies.

Jun 17, 2014

Ratnakar Bank plans IPO of up to $250 mln in 2015 – sources

MUMBAI (Reuters) – Ratnakar Bank Ltd plans to launch an initial public offering of shares worth up to $250 million in the first quarter of 2015, sources involved in the process said, in what will be the first Indian bank listing in four years.

The offer will include an issue of new shares as well as some of the shares owned by the bank’s private equity investors, said three sources. All the sources declined to be named as the details of the IPO are not public yet.

Jun 17, 2014

India’s Ratnakar Bank plans IPO of up to $250 mln in 2015-sources

MUMBAI, June 17 (Reuters) – India’s Ratnakar Bank Ltd
plans to launch an initial public offering of shares
worth up to $250 million in the first quarter of 2015, sources
involved in the process said, in what will be the first Indian
bank listing in four years.

The offer will include an issue of new shares as well as
some of the shares owned by the bank’s private equity investors,
said three sources. All the sources declined to be named as the
details of the IPO are not public yet.

Jun 5, 2014

Idea raising up to $506 million via share sale as markets revive

NEW DELHI (Reuters) – Mobile operator Idea Cellular is raising up to $506 million through a share sale, it said on Thursday, seeking to tap growing demand for equities after a landslide election victory for new Prime Minister Narendra Modi.

The phone carrier, part of the diversified Aditya Birla conglomerate and about a fifth owned by Malaysia’s Axiata, will use the funds raised to buy radio airwaves, according to a deal termsheet seen by Reuters.

Jun 5, 2014

India’s Idea raising up to $506 mln via share sale as markets revive

NEW DELHI, June 5 (Reuters) – Indian mobile operator Idea
Cellular is raising up to $506 million through a share
sale, it said on Thursday, seeking to tap growing demand for
equities after a landslide election victory for new Prime
Minister Narendra Modi.

The phone carrier, part of the diversified Aditya Birla
conglomerate and about a fifth owned by Malaysia’s Axiata
, will use the funds raised to buy radio airwaves,
according to a deal termsheet seen by Reuters.

May 29, 2014

RIL seeks control of Network18 for $680 million

MUMBAI (Reuters) – Reliance Industries (RELI.NS: Quote, Profile, Research) will spend about $680 million to buy a majority stake in Network18 Media and Investments (NEFI.NS: Quote, Profile, Research), it said on Thursday, as a potential content provider for its planned 4G internet services.

Cash-rich Reliance, controlled by India’s richest man, Mukesh Ambani, has been diversifying into businesses including retail, financial services and telecommunications to counter slowing growth in its core oil and gas business.

May 29, 2014

India’s Reliance seeks control of Network18 Media for $680 mln

MUMBAI, May 29 (Reuters) – India’s Reliance Industries
will spend about $680 million to buy a majority stake
in Network18 Media and Investments, it said on
Thursday, as a potential content provider for its planned 4G
internet services.

Cash-rich Reliance, controlled by India’s richest man,
Mukesh Ambani, has been diversifying into businesses including
retail, financial services and telecommunications to counter
slowing growth in its core oil and gas business.

May 28, 2014

Jet Airways to restructure after record loss

NEW DELHI (Reuters) – Jet Airways Ltd(JET.NS: Quote, Profile, Research) laid out a three-year restructuring plan on Tuesday vowing to take tough measures to return India’s No. 2 airline by market share to profit after posting its worst ever loss.

All but one of India’s big airlines loses money, with high costs, low fares and heavy competition which is likely to increase with two new carriers set to enter the market this year.

May 28, 2014

India’s Jet Airways to restructure after record loss

NEW DELHI, May 27 (Reuters) – Jet Airways Ltd laid
out a three-year restructuring plan on Tuesday vowing to take
tough measures to return India’s No. 2 airline by market share
to profit after posting its worst ever loss.

All but one of India’s big airlines loses money, with high
costs, low fares and heavy competition which is likely to
increase with two new carriers set to enter the market this
year.

    • About Devidutta

      "I cover the telecoms sector in India. With Reuters since 2005. Previous stints were in Bangalore and Mumbai, where I covered metals and construction companies and also the stock markets, before I moved to New Delhi in 2008. @dtripathy on Twitter."
      Joined Reuters:
      August 2005
      Languages:
      English, Hindi, Oriya
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