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Briefly Business: Carlyle,Warburg sell stakes in HDFC,Kotak

Carlyle sold 1.3 per cent of its stake in HDFC,raising about $270 million. In another deal,Warburg Pincus sold about 17.5 million shares in lender Kotak Mahindra Bank

Written by Express News Service | Published: February 2, 2012 1:36:58 am

Carlyle,Warburg sell stakes in HDFC,Kotak

Mumbai: Carlyle sold 1.3 per cent of its stake in HDFC,raising about $270 million (Rs 1,354 crore). In another deal,Warburg Pincus sold about 17.5 million shares in lender Kotak Mahindra Bank Ltd through stock market deals to raise about $170 million.

IOC to pay R979 cr unpaid entry tax to UP by Feb 14

New Delhi: Cash-strapped Indian Oil Corp (IOC) will have to pay over Rs 979 crore in unpaid entry tax to Uttar Pradesh government in the next two weeks after the Supreme Court asked the company to deposit half of the unpaid liability in cash.

State Bank Of Patiala net profit up 21.31 per cent

Mumbai: State Bank of Patiala has registered a 21.31 per cent jump in its net profit for the quarter ended December 31,2011,at Rs 520 crore as against Rs 429 crore last year.

Binani buys European fibre glass company

Mumbai: Binani Industries Limited,the holding company of $1.6 billion Braj Binani Group,has announced the acquisition of 3B — The Fibreglass Company,for euro 275 million.

Sony’s Stringer to step down as president,CEO

Tokyo: Sony’s president and CEO Howard Stringer is to step down,the firm said. He will be succeeded by Kazuo Hirai,who will take over as president and CEO in April.

US prosecutors expand case against Rajat Gupta

New York: US prosecutors expanded their insider trading case against former Goldman Sachs Group director Rajat Gupta on Tuesday,saying the illegal activity lasted longer and involved more trades than alleged.

Fortis buys 85% in Singapore’s RadLink

New Delhi: Fortis Healthcare (India) has said it has acquired a majority stake in Singapore-based RadLink-Asia Pte Ltd for about Rs 245 crore.

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