1. IPL-8 gives World Cup a run for its ad-money
The Indian Premier League has beaten the ongoing ICC Cricket World Cup when it comes to television ad rates. According to a report in the Economic Times, the official broadcaster of the Indian Premier League, Multi Screen Media is selling initial 10-second match-time ad spots on television for Rs 4.75-5 lakh each, 15% more than the previous edition. Read here.
2. Towering ambitions crushed by debt, GTL Infra seeks a buyer
GTL Infrastructure, which aspired to build India’s largest telecom towers firm by acquiring Reliance Communications’ (RCom) towers in 2010, is now seeking to quit the business altogether after running into losses for years, as reported by the Financial Express. Read here.
3. Flipkart eyes more buys to boost mobile ad biz
The country’s largest e-commerce player is looking to strengthen its mobile advertising platform, a vertical that promises to boost revenue with better margins. Until now, the online shopping portal has only been guzzling cash. Co-Founder and CEO of the Bangalore-based Flipkart, Sachin Bansal told the Times of India that it will build a 200-people strong team in a year for its ad business as mobile becomes its focus area for investments going forward. Read here.
4. Edelweiss buys 1 lakh sq ft office space in Mumbai
The Financial Express reports that the online share-trading portal, Edelweiss has purchased office space of over one lakh sq ft of in Mumbai’s eastern suburb of Kurla, in a deal that could be valued at up to Rs 130 crore, inclusive of all costs. Read more.
5. Meru looks to tank up with Rs 627 crore to take on up starts
Hedge funds Valiant Capital Partners and Falcon Edge Capital are in talks with Meru Cabs to raise Rs 627 crore ($100 million). If the deal comes through, Meru could become a serious competitor in what was presumed to be straight fight between cab aggregators Uber and Ola, according to an Economic Times report. Read here.
6. The dangers of banning cow slaughter
Murad Ali Baig writes in the Business Standard that banning cow slaughter in the country could lead to a massive economic set-back. He says that according to the 9th Livestock Census of India, 2012, cows in India are under no grave danger. Read here.
7. Naval chopper: Tata, M&M among firms in race
Several top Indian companies including Tatas, Mahindra & Mahindra, Anil Ambani’s Reliance Group and Baba Kalyani’s Bharat Forge are vying for the nearly USD 1.5 billion Naval Utility Helicopters Programme under the ‘Make in India’ initiative. The contract is for 100 helicopters.
8. Black money law is no magic
SS Khan, a former member of the Central Board of Direct Taxes writes in the Financial Express that for the government to really make a difference when it comes to ‘black money’, it’ll have to target the hydra-headed monster simultaneously at multiple fronts—generation, holding/conversion or laundering, detection and recovery/deterrence. Read here.
9. Banks may extend Bhushan Steel’s nearly $6 billion loan
The country’s sixth-biggest steel producer by capacity, which owed banks nearly $6 billion, could extend the maturity of the Indian steelmaker’s debt under a central bank scheme that would spare the lenders from booking hefty provisions.
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