Wipro accepts revised land offer at Rajarhat

The desperate efforts of Buddhadeb Bhattacharjee and Azim premji, has helped Wipro to come out of the company’s most probable option of aborting the plan to set up a second campus at a cost of Rs 500 crore in Bengal.

According to the state IT department, a Wipro team, which has inspected the plot embarked for it in Action Area III, found the land suitable for project. But, the team was not consistent with the offered price of Rs 2.16 crores per acre. Wipro has demanded concession in the price, which is around Rs 1.25 crores per acre.

Debesh Das, IT minister of Bengal appreciated the decision of Wipro to start a second campus in Bengal, and said that this decision is going to encourage employment opportunity to a considerable extent and boost the economic activities in the state.

The site of the land is in Action Area III of new Town Rajarhat, near the Shapoorji pallonji Mass Housing project. According to a HIDCO official, it is a 50 acre land parcel in possession of HIDCO.

Although, the state has been in controversies since the TATA Motors was unable to acquire land for their project in Singur, Buddhadeb Bhattacharjee is very much optimistic for this deal.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.