Latest News

E-land close to buying Mudra Lifestyle• South Korea-based $7-billion textile chain E-land is

acquiring Mumbai-based Mudra Lifestyle. • The South Korean major has agreed to buy a

minimum 51% stake in the company, which can go up to 67% after the open offer.

• The promoters of the company—the Aggarwal family—currently hold a 54.5% stake.

• E-Land group is a Seoul-based fashion and garment conglomerate with substantial presence in the fast growing Asian markets.

Hyundai launches luxury SUV Santa Fe• Hyundai Motor India, country's second largest car

manufacturer has launched its luxury SUV Santa Fe, priced between Rs 20.95 lakh- Rs 22.95 lakh.

• In India Santa Fe will be imported as completely built units (CBU) from South Korea.

• With this launch, HMIL now has seven models in the country, including the popular i10.

• MD and CEO of HMIL- H W Park.

RBI sells almost all its stake in Nabard to Govt• The Reserve Bank of India divested its stake amounting to Rs

1,430 crore in National Bank for Agriculture and Rural Development (Nabard).

• The Government of India now holds 99 per cent of the stake.

• Earlier Reserve Bank held 72.5 per cent of equity in Nabard.

• Now, the only major institution where RBI holds a stake is National Housing Bank (NHB). The central bank hold 100 per cent stake in the housing finance regulator.

Tata Motors plans small car to take on Alto• Tata Motors is planning to launch a new car that will be

positioned between the Nano and the Indica.

• With the launch of this small car, Tata Motors will take on the Maruti-Suzuki Alto , currently the largest selling hatchback in the Indian market.

• The auto major is looking to have products at every price point.

• Currently the Tata Motors car portfolio includes the Nano, Indica, Indigo, Manza, Sumo, Safari and the Aria.

Philips launches new range of televisions• Philips, a pioneer in television technology launched

its new range of LCDs, LEDs and ultra slim TVs.

• Philips unveiled 15 models of LEDs, eight models of LCDs and five models of ultra slim TVs.

• The LED sets would be available in sizes ranging from 22-55-inch, while LCD models would be available in sizes ranging from 24-46-inch.

• The price range of LED TVs would start from Rs 26,500 while the LCDs are priced at Rs 16,499. The price range of ultra slim TVs starts from Rs 5,290.