Following are the important reports carried by leading financial dailies and post market business news:
Business Standard
Tata Motors partners Royal Challengers Bangalore
Tata Motors, India's fourth largest passenger vehicle maker, today announced its second association with a Indian Premier League. The Mumbai-based company announced its partnership Vijay Mallya-owned Royal Challengers Bangalore becoming its official car partner. RCB players in their inaugural match against Mumbai India wore jerseys having the Tata Bolt branding. Tata Bolt is the yet-to-be-launched hatchback which will be introduced in a few months.
GMR may bid for Ahmedabad airport's privatisation
Infrastructure and aviation major GMR Group may bid for the upcoming privatisation of the Sardar Vallabhbhai Patel International Airport at Ahmedabad, said its group chairman GM Rao. Speaking on the sidelines of a convocation ceremony at the Entrepreneurship Development Institute of India (EDI) here, Rao said, ''We may bid for the Ahmedabad airport privatisation whenever the bid opens.'' Rao was the chief guest at EDI's 15th convocation ceremony for its 'Post-Graduate Diploma in Management - Business Entrepreneurship' and 'Post-Graduate Diploma in Management - Development Studies'.
Leela Group to sell Delhi, Chennai hotels
Hotel Leelaventure is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell its prime properties in Delhi and Chennai for around Rs 18.5 billion to pare debt. The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities.
Business Line
Tata Steel set to finalise investment in Canada
With the financial viability of its iron ore mining and pellet project in Canada confirmed by a study, Tata Steel is set to decide on an investment, says the project team. Tata Steel is a strategic partner and the biggest stakeholder in the Toronto Stock Exchange-listed New Millennium Iron Corp (NML), which is pursuing the project. NML did not disclose the size of the proposed investment.
Future Retail calls off merger with Future Generali
Future Retail on Monday called off the merger of its insurance joint venture company, Future Generali India Insurance Company, with L&T General Insurance Company. The transaction had envisaged the sale of a partial stake by Future to L&T and its other joint venture partner, Participatie Maatschappij Graafschap Holland NV (a subsidiary of Assicuranzioni Generali SPA), in the merged entity.
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