Month: December 2007

Phoenix Mills in a communication has told Dalal Street that they will acquire the majority stake in Big Apple Real Estate through the swap of Phoenix’s stake in its Agra project (Market City in Agra) and through an infusion of around Rs 80 crore as fresh capital.

The funds infused by Phoenix are likely to be deployed across Big Apple’s projects in Meerut, in building a second large mall in Lucknow, and also in its proposed projects in Gorakhpur, Allahabad, Kanpur and Dehradun.

Phoenix Mall in Mumbai is one of the most expensive Retail spaces in India.

Maruti Suzuki India (MSIL)’s domestic sales rose 24% to 65,216 units in November 2007 over November 2006. This is its highest ever monthly domestic sale posted by the company. The growth was propelled by newer models such as Zen Estilo, Swift and SX4 even as older models, including Wagon R and Alto, did well, the company said in a communique issued to Dalal Street reporter. However, the main purpose of this terrific sales was the Holiday shopping by Indians.

The company’s exports jumped 82% to 4,483 units in November 2007 over November 2006.

Gateway Distriparks has announced that the company’s subsidiary, Gateway Rail Freight (GRFL) has signed an agreement with Container Corporation of India (CONCOR) in March 2007 to form a joint venture company and operate the rail-linked inland container depot (ICD) at Garhi Harsaru, Gurgaon.

The parties to the above agreement reached closure of the terms of the agreement and the joint venture company, Container Gateway (CGL) has become operational with effect from 01 December 2007. GatewayRail and CONCOR have shareholding in the ratio of 51:49 respectively in Container Gateway.

Diamond Cables has invested in the financial & managerial restructuring of India’s one of the leading power and distribution transformer manufacturer, Apex Electricals in June 2007.
Apex Electricals Ltd. established in 1967, was India’s Leading Power Transformer manufacturer operating with collaboration with ELIN of Austria and manufactured power transformer upto 315 MVA, 220 KV class.

The company has informed that, pursuant to investment and management restructuring from Diamond Power Infrastructure and Financial Investment from Clearwater Capital Partners India, the power transformer manufacturing facilities at Vadodara was totally rewamped to bring to its world class manufacturing facility.

Further, the company pleased to announce the operations of the power transformer facility with 7500 MVA have commenced operations with effect from 03 December 2007 at 10.00 hrs.