Hong Kong: Nomura Holdings Inc. has hired Sandeep Singh from Citigroup Inc. as head of telecommunications, media and technology investment banking for Asia excluding Japan, two people familiar with the matter said.
Singh, 38, resigned from Citigroup last week after spending a decade at the company, one of the people said.
A Hong Kong spokesman at Citigroup declined to comment.
Nano may be sold in Germany in 2 years
Frankfurt:Tata Motors Ltd’s low-priced car, the Nano, will go on sale in Germany in two-three years at the earliest, ‘Die Zeit’ reported, citing chief executive officer Carl-Peter Forster.
The current model of the car doesn’t feature some safety features needed for use in Europe, the German newspaper cited Forster as saying.
JSW may start iron ore mines in two yrs
Mumbai:JSW Steel Ltd, India’s third biggest producer, expects to start operating new iron ore mines in the country within the next 18-24 months, vice-chairman Sajjan Jindal said in the company’s annual report published on Tuesday. JSW, which gets around one-fifth of its ore requirements from its own mines in India, expects the share to go up to 70% after the new mines are started, he said.
SAIL cuts steel prices by up to Rs1,500
Mumbai:Steel Authority of India Ltd (SAIL), the country’s second biggest producer, has lowered the prices for flat and long products, spokesman R.K. Singhal said on Tuesday. Prices have been reduced by Rs1,000-1,500 a tonne, he said.
Lanco net up 63.55% on low expenses
New Delhi: Infrastructure firm Lanco Infratech Ltd said its net profit for the year ended 31 March rose 63.55% over the previous year due to low operating expenditure and foreign exchange earnings. Net profit touched Rs458.55 crore. Revenue rose 34.56% to Rs8,082.49 crore, Lanco said in a statement.
For the March quarter, net profit rose 26.08% to Rs113.3 crore, on a 18.23% increase in sales to Rs2,403.72 crore. Lanco registered Rs4.64 crore as forex gains in the year, against a loss of Rs25 crore in fiscal 2009.
--Utpal Bhaskar & Reuters
Ansal API reports 132% rise in profit
New Delhi: Real estate firm Ansal Properties and Infrastructure Ltd (Ansal API), reported a 132% increase in net profit for the year ended 31March.
On a consolidated basis, net profit stood at Rs71.32 crore against Rs30.69 crore in the fiscal 2009. Total income for the year was Rs871.32 crore on a consolidated basis, against Rs756.32 crore in 2009. The company’s board, which met on Monday, has approved a dividend of 10% for the year.
--Devesh Chandra Srivastava