Singapore: HSBC Holdings Plc’s Robert Prior-Wandesforde said he will join Credit Suisse Group AG as its economist covering India and South-East Asian nations.
Prior-Wandesforde, 42, said he will join Credit Suisse in mid-August after resigning from HSBC on 14 May. At HSBC, he was a senior Asian economist.
Honda to build new plant in Rajasthan
New Delhi: Two-wheeler maker Honda Motorcycle and Scooter India Pvt. Ltd (HMSI) has commenced construction of a new facility at Tapukara in Rajasthan. The new plant, located 40km from its existing facility at Manesar, will roll out its first motorcycle in the second half of 2011 and will have an annual production capacity of 600,000 units.
Honda, which sold 1.27 million motorcycles and scooters last fiscal, expects sales to grow 20% this year to 1.55 million units, according to Shinji Aoyama, president and chief executive, HMSI.
Suzlon drops after reporting net loss
Mumbai: Shares of Suzlon Energy Ltd fell in Mumbai trading on Monday after the company reported a net loss of Rs188 crore for the March quarter, against a profit of Rs315 crore in the year-ago period. The shares closed at Rs56.30 each, 7.78% lower than the previous close of Rs61.
Manipal to buy out investor’s stake
Bangalore: Manipal Health Systems, the hospital arm of the Manipal Education and Medical Group (MEMG), plans to raise Rs330-350 crore to buy out a 21% stake held by IDFC Private Equity Fund in it and to fund expansion. ‘VC Circle’ first reported this slated deal.
Out of the total amount, MEMG will bring in Rs230 crore. “We are looking at raising another Rs100-120 crore of equity from a PE (private equity) fund for any acquisition that may arise in the future,” MEMG chief executive officer and managing director Ranjan R. Pai said.