News

Ford India plans to export Figo to newer markets

• Car maker Ford India, the 100 per cent subsidiary of Ford Motor Corporation , USA plans to export its hatchback Figo to newer markets.

• Next year onwards they are planning to cover 48 countries. Initially they will export it to North African market, South America, Mexico and in the Emirates region.

• The car manufacturer since its launch in South Africa was ranked among the Top 10 car manufacturers.

IPO limit for individual investor enhanced

• SEBI has doubled the limit for maximum application for individual investors from Rs 1 lakh to Rs 2 lakhs across all public issues.

• Once categorized as HNIs these investors had only 15 percent of the shares at their disposal, as against 35 percent reserved for the retail players.

• The remaining 50 percent is set aside for institutional investors.

Bajaj Auto arm raises KTM stake

• Bajaj Auto International Holdings (BAIHBV), a Netherlands-based wholly-owned subsidiary of Bajaj Auto, has raised its stake in KTM Power Sports .

• India’s second-largest motorcycle maker purchased 2.44 lakh shares in KTM, taking the total shareholding to 38.09% .

• Bajaj Auto is the second-largest shareholder in KTM. The largest shareholders — Stefan Pierer and Rudolf Knuenz hold more than 51%.

MFIs agrees to reduce interest rates to 24 pc

• Micro finance companies agreed to reduce interest rates they charged from borrowers to 24 per cent.

• A cut in rates comes from as high as 34 per cent in the backdrop of an unsavory situation in Andhra Pradesh, where many borrowers have committed suicides due to coercive methods adopted by micro finance institutions (MFIs) to recover money.

Fortis draws up Rs 650-cr investment plan

• Fortis Healthcare plans to invest around Rs 650 crore in the next 18 months to open 7-8 hospitals and is scouting for acquisition opportunities in India.

• Fortis Healthcare had lost out a corporate takeover battle for control of Singapore’s Parkway early this year.

• The company disclosed that it booked Rs 342.6 crore as gain on the sale of its investment.