WEEKLY NEWS

By: Kapil Singh Pathania

PE stars may team up to buy 18% in Hero
Honda
 THREE leading US-based private equity (PE)
firms—
 Carlyle,
 Kohlberg Kravis &
 Roberts (KKR) and Warburg Pincus — are likely to
acquire an effective stake of 15-18% in Hero Honda
Motors
 It may result into Japan’s Honda completely
exit the country’s largest motorcycle
company.
 BM Munjal-owned Hero group is in
discussions with these PE firms to sell 60-
70% stake in a special purpose vehicle (SPV)
 to fund the acquisition of Honda’s 26%
shareholding—which at current market
price is valued at around 9,300 crore.
L&T Q2 net rises 32% to 765 cr on
order rush
 L & T, India’s largest engineering and
construction company, said its 2Q profit
grew 32% due to higher orders.
 L&T, which earns more than 80% of its
revenue from engineering and
construction businesses, booked a net
profit of 765 crore for the quarter ended
September, compared to 580 crore last
year.
 “Execution of major project orders picked
up during the quarter,” group chief financial
officer YM Deosthalee said.
 A moderate growth of 11% at 20,464 crore in
order flows during the period, mainly due
to a delay in prospect orders from public
sector and private companies. 
    
 “Orders worth 40,000 crore have been
shifted for the third and fourth quarter by
the companies that reflected a slower
orderflow in the book. However, we are
confident of an order book growth of 25%
by the end of the current fiscal year,” said
Mr Deosthalee. 
 Indian cos see red over lal dant
manjan patent

 Now patented in the US by Colgate

Palmolive.
 Indian ayurvedic companies have sought
government intervention to cancel the
potenting of its traditional product. 
 Mahindra Two Wheelers sales up
451% in September

 Best monthly sales of 16,569 scooters

in September.
 A whopping 451% increase year-on-
year.
 ‘Powerscooter strategy’ targeting
youth with its peppy looks and
125cc power engine.
 300cc Mojo is a lifestyle bike, an
TCS joins $2b revenue club in
Q2, net up 32%
 Profit rose 32% to 2,169 crore for the July-
September quarter.
 Globally, the company is now the ninth-largest
IT services firm when measured by sales and
the third by market capitalisation.
 Wipro fails to match peers, net up just
10% to 1,285 cr
 Net profit for the September quarter
rose 10% to 1,285 crore.
 Lower than 1,319 crore reported
during the first quarter ended June this
year.
 Operating margins, also came down to
22.2% during the second quarter, from
23.7% reported during the same period
last year.
 Honda recalls 528,000 cars
 Recalling 528,000 vehicles world-wide due to
potential problems with a master brake
cylinder seal.
 Recall, similar to one by Toyota Motor Corp for
about 1.5 million vehicles worldwide.
 Ctd…
 The same supplier, ADVICS Co Ltd, a privately
held Japanese company with a unit in the
United States, made the seals for both major
automakers.