Monitor

L & Ttrade.com pact with bplnet

CHENNAI: L & Ttrade.com and bplnet.com have recently announced a strategic partnership to provide financial services on the bplnet.com portal. Under the agreement, L & Ttrade.com will be exclusive provider of financial products to bplnet.com's users through a co-branded section on the portal's finance channel. This will enable bplnet.com to provide a comprehensive range of financial services, according to a release.

- PTI

HDFC plans to raise FII stake

MUMBAI: The board of HDFC will meet on May 8 to consider a proposal for raising the ceiling of investment by foreign institutional investors from 40 per cent to 49 per cent, according to a notice to the BSE here. At present, the FIIs hold 38-39 per cent in HDFC and it has already obtained shareholders permission for the same.

- PTI

Kesoram to merge three cos.

MUMBAI: The board of Kesoram Industries is to consider a proposal to merge/amalgamate three companies including Birla Century Finance with itself at a meeting on April 23. KIL directors would consider feasibility of the merger or amalgamation of Birla Century Finance, (a company promoted by itself), its subsidiary, Bharat General & Textile Industries and Hindustan Heavy Chemicals, an unlisted company at its board meeting, KIL said in a notice to the Bombay Stock Exchange.

Winphoria's second round VC funding

NEW DELHI: The Bangalore-based Winphoria Networks, a core infrastructure company for mobile wireless service provider networks, has raised $42 million in its second round of venture capital funding taking its total financing to over $50 million. The latest round for fund raising was led by Matrix Partners, North Bridge Venture Partners, Norwest Venture Partners and Amerindo Investment Advisors Inc.

British firm teams with ZDNetIndia

CHENNAI: Softwrap, a London-based software technology company, has tied up with Jasubhai Interactive to distribute its namesake secure peer-to-peer (P2P) electronic software distribution (ESD) solution to Indian software developers through ZDNetIndia. ZDNet is a technology information and services web site for Indians who want to buy, use and learn about technology, is a joint venture between the Jasubhai Digital Media group and CNET Networks inc.

Aditi Tech's new CEO

BANGALORE: The Bangalore-based Aditi Technologies, e-business and software development services company, has appointed Mr. Vivek Chopra as it's new chief executive officer. The appointment signals Aditi's increased focus on its services business. Mr. Chopra was the vice president and country manager, Wipro, North America.

Sonar to head Escorts JCB

NEW DELHI: Mr. Onkar Sonar has been appointed Executive Director, Escorts JCB, the Rs. 471-crore manufacturer of earthmoving equipment. He will be responsible for all its operations in India.

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Section  : Business
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