Dalal Street

Phoenix Mills in a communication has told Dalal Street that they will acquire the majority stake in Big Apple Real Estate through the swap of Phoenix’s stake in its Agra project (Market City in Agra) and through an infusion of around Rs 80 crore as fresh capital.

The funds infused by Phoenix are likely to be deployed across Big Apple’s projects in Meerut, in building a second large mall in Lucknow, and also in its proposed projects in Gorakhpur, Allahabad, Kanpur and Dehradun.

Phoenix Mall in Mumbai is one of the most expensive Retail spaces in India.

Maruti Suzuki India (MSIL)’s domestic sales rose 24% to 65,216 units in November 2007 over November 2006. This is its highest ever monthly domestic sale posted by the company. The growth was propelled by newer models such as Zen Estilo, Swift and SX4 even as older models, including Wagon R and Alto, did well, the company said in a communique issued to Dalal Street reporter. However, the main purpose of this terrific sales was the Holiday shopping by Indians.

The company’s exports jumped 82% to 4,483 units in November 2007 over November 2006.