Ashok Leyland, the Hinduja Group flagship, has won an order worth $26 million from the Sri Lanka-based People's Leasing Company to provide 1,000 buses.
The delivery of the 1,000 'Viking' buses, varying from 42-58 seaters, has to be completed before March 2011. The order is being part funded by the Asian Development Bank, said the company in a press release.
On Wednesday, Ashok Leyland shares closed 0.4% down to Rs70 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.8% lower to 18,070 points.
Telecom services provider Bharti Airtel Ltd said it will buy Telecom Seychelles Ltd for $62 million (about Rs288 crore).
With this acquisition, Bharti Airtel will expand its African footprint to 16 countries and its overall presence to 19 countries. Recently it acquired mobile operations of Zain group in 15 countries across Africa, Bharti Airtel said in a regulatory filing.
When asked whether Bharti Airtel had presence in Seychelles, a company spokesperson clarified that the company never had any stake in Telecom Seychelles and it was only using its brand name, reports PTI. Now Bharti Airtel will acquire all stake from its promoters to make it part of African operations.
Telecom Seychelles began operations in 1998 by launching mobile services and today it offers 3G mobile and integrated wireline services across the island nation under the Airtel brand and has over 57% share of the mobile market.
On Wednesday, Bharti Airtel shares declined 1.4% to Rs319 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.8% lower to 18,070 points.
Automotive parts supplier Bosch Ltd reported a second quarter net profit of Rs209.7 crore compared with Rs188.3 crore a year ago.
During the quarter to end-June, its total revenues increased to Rs1,716.6 crore from Rs1,310.7 crore same quarter last year, the company said in a regulatory filing.
On Wednesday, Bosch shares declined 0.7% to Rs5,783 on the Bombay Stock Exchange, while the benchmark Sensex ended 0.8% lower to 18,070 points.