Tata Capital Ltd said its Singapore-based unit Tata Capital Pte Ltd signed a limited liability partnership agreement with Mizuho Securities Co Ltd (MHSC) to establish a private equity fund and to invest in unlisted Indian companies in the mid-market space.
As part of the agreement, Tata Capital will partner with MHSC to raise private equity funds in Japan and other key international markets like South-East Asia, Middle-East and parts of Asia-Pacific for its Singapore-based growth fund, it said in a release.
The Tata Capital Growth Fund aims to provide capital and operational excellence to mid-market companies through classic private equity transactions. It is estimated that over $35 billion of equity capital would be required per annum to enable Indian mid-market companies to achieve their growth potential and Tata Capital Growth Fund aspires to provide a part of this risk capital.
Hindalco Industries Ltd, an Aditya Birla Group company, reported a net profit of Rs534 crore for the first quarter ended 30 June 2010, a growth of 11% from Rs481 crore last year.
The company's total revenues were at Rs5,178 crore in the first quarter of the current fiscal a rise of 33% compared to Rs3,897 crore the same quarter last year, it said in a regulatory filing.
On Tuesday, Hindalco shares ended 0.6% up to Rs165 on the Bombay Stock Exchange, while the Sensex closed 0.2% higher at 18,114 points.
Melbourne: It is not just the stadiums, even the security arrangements for the Delhi Commonwealth Games are running behind schedule, as the Indian authorities were a "bit slow" in their planning, a security consultant of the Commonwealth Games Federation has claimed, reports PTI.
Neil Fergus -- the chief executive of Intelligent Risks, which has been advising the CGF on security in sporting events for over six years, feels the 3 to 14 October Delhi Games have to work a lot to become truly secure.
"As (federation) chief executive (Mike Hooper) has said on a number of occasions, there is a lot more work to be done between now and the ... Commencement of the Games (on October 3)," Mr Fergus told the 'Sydney Morning Herald'.
Mr Fergus said Intelligent Risks reviewing security planning for the Delhi Games under an agreement between the CGF, the organising committee and the Indian government.
Mr Fergus said his company has been doing extra work because, "(Indian authorities) were a bit slow in getting the planning up to the level that was expected and in fact required under the technical plan ... Given to each host city."
"There's been good progress. But when you start as late as has happened on this occasion it all becomes quite a rush. We have another scheduled CGF review in early September. We're focused on some of the key issues in terms of delivery at that time," he said.
The Delhi Games have been hit by allegations of corruption and shoddy construction work in the past few weeks but Fergus said the organisers are doing all they can to make the event a success.
"There's no cast-iron guarantee about terrorism anywhere on this planet. They are doing everything that is possible to deliver a safe and secure Games environment. I really do believe that they are serious in leaving no stone unturned to try to deliver a safe and secure Games.
"There's no such thing as a faultless international major event because the scale and complexity of it is such ... That that's just not achievable. There are too many people involved," he said.