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HCL Tech may close 5 deals in M&E space by year-end
Delhi-based HCL Technologies expects to sign around five deals in the media and entertainment (M&E) space. Talks are on with four global companies and one Indian firm, and HCL plans to close these deals by the end of this year. Most deals will be in the range between $50 million and $200 million (Rs 240-950 crore).

FII-TO-FII TRADES: PNB traded at 5% premium
Trades between FIIs generated a volume of Rs 30 crore on the BSE Wednesday-an decrease of 44.03% from Rs 54 crore clocked on Tuesday. As many as five stocks witnessed trades of 3.47 lakh shares on Wednesday.

News of the day

Steel min sticks to 10% disinvestment in NMDC
The Steel Ministry today said it will stick to its earlier proposal of divesting up to 10 per cent of the government"s equity in iron ore miner NMDC even as the finance ministry has proposed 15 per cent sale of Centre"s holding in the navratna company.
Small Business

Axis PE, IL&FS announce investment of Rs 90 crore in SGEL

Axis Private Equity (Axis PE) and IL&FS Financial Services have announced an investment of Rs 90 crore in Shalivahana Green Energy Ltd (SGEL). - Hutch warns investors of tax, other obligations in Vodafone India deal - GM India says all investments complete - Victor Blank to quit Lloyds Banking Group: Report - Murugappa group to invest Rs 586 cr in group firms - Tube Investments posts Q4 net loss of Rs 4.43 crore">Tube Investments posts Q4 net loss of Rs 4.43 crore - PTC India, Tube Investments Q4 result Axis PE will invest Rs 54 crore directly in SGEL, while IL&FS Financial Services will invest Rs 36 crore, a statement said here today. This is Axis PE"s fifth investment following previous investments aggregating Rs 320 crore in water supply and sanitation, laying oil and gas pipelines, railway EPC and hospitality sectors, the statement said. SGEL is a leading renewable energy player with focus on development and operation of biomass and small hydro power projects. Currently, SGEL has four operational projects having aggregate capacity of 35mw and is at an advanced stage of developing a number of biomass and small hydro power projects, it said. With the capital infusion, SGEL is well-positioned to expand its capacity to over 250mw, it added. This investment further reaffirms Axis PE"s commitment to invest in infrastructure-related companies in high-growth segments such as renewable energy, Axis PE Managing Director and CEO Alok Gupta said. SGEL Managing Director M Komariah said, "We are glad that Axis PE and IL&FS have chosen to invest in our company and look forward to receiving strategic inputs from them. The investment will nurture future growth and enable the company to rapidly scale up its business." IL&FS Limited Managing Director Hari Sankaran, said that the company has created a dedicated institutional platform that provides access to all forms of growth capital, knowledge and best practices framework to emerging companies in the renewable energy space.


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