Author: CP

We have just been alerted by the management of Sita Shree Food Products that the company has received 400 metric ton orders from one of its valued customer Reliance Retail’s subsidiary Reliance Fresh, prevailing month to deliver Wheat flour and pulses which is increased about 250% from the last order of 160 MT.

Sita Shree is equipped with own manufacturing and marketing unit to increase and grow their sales with their well experienced personnel. The directors of the company has wide & depth knowledge of grains and pulses market to expand and grow the profitability of the company.

WNS holdings is looking to buy out ICICI Bank’s entire stake and mop up shares held by some other private equity investors in Firstsource Solutions. ICICI Bank is the single largest shareholder in Firstsource Solutions (FSL), holding 24.84% stake (as at end March 2008).

Firstsource is among India’s leading business process outsourcing (BPO) companies providing business process management services to global leaders in banking & financial services, telecom & media and healthcare domains.

On fear of more than 20% hike in Petrol prices [Rs 10 to Rs 16 / litre hike expected], Auto stocks were unloaded on the bourses mercilessly. Bajaj Auto is down 11%, Maruti Suzuki down 4%, Hero Honda down 2%, Tata Motors down 2.5% and TVS Motors down 3%.

Auto firms are already facing a facing a challenging time. On the one hand, sales has slowed down due to higher interest rates and on the other hand a surge in raw material prices has squeezed margins.