Wipro may accept land at Rajarhat

Wipro Technologies

Wipro Technologies has announced to accept the land offer in Rajarhat, West Bengal, apprising the government through formal channel. The proposed chunk of land is owned by Hidco in New Town and the body is in the process to allot 50 acres of land to the IT firm on concessional price.

The state IT department recently held a meeting with Wipro officials, who visited the site in Action Area III.

IT minister Debesh Das, said, “The decision of Wipro to start its second campus in Bengal is quite encouraging. I believe that this facility will augment employment opportunity to a considerable extent and boost the economic activities in the state.”

A Hidco official said that Wipro is satisfied to after inspecting the location and asked for certain concessions in land allocation. But the firm is yet to define the actual mean of concessions. Hidco proposes Rs 2.16 crore per acre but IT majors Wipro and Infosys has urged government to provide concessions to make the deal financially viable for the companies.


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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.