Industry News

SYNNEX Corp. for $420 million, SYNNEX said on Monday. SYNNEX, a Fortune 500 corporation, will integrate Minacs into its wholly-owned subsidiary Concentrix. SYNNEX is a leading business process services company, optimizing supply chains and providing outsourced..."/>
BPO firm Minacs sold to US-based SYNNEX [Mint, New Delhi]
Aegon Provides Update on UK Annuity Book Divestments
LafargeHolcim, Karsanbhai Patel, founder chairman of Nirma Ltd, looks set to storm India's lumbering Rs.2 trillion cement industry. Once the proposal receives regulatory and shareholder approvals, Nirma will be among the 10 largest cement producers in the country with an installed capacity of 13 million tonnes. The move marks a second coming for Patel, the feisty founder of the..."/>
Nirma's Karsanbhai Patel back in spotlight with Lafarge India deal [Mint, New Delhi]
HDFC to issue masala bonds this week [Mint, New Delhi]
Igarashi Motors India Ltd Monday said one of its large shareholders will sell over 3.3 million shares amounting to 10.35% in the company in an offer for sale at a floor price of Rs.650. P. Mukund, who is selling the stake, owns 32.60% or nearly 10 million shares in Igarashi. The offer will be open on 12 and 13 July, the company informed the stock exchanges."/>
P Mukund to sell 10.35% stake in Igarashi Motors [Mint, New Delhi]
IndusInd Bank Ltd on Monday reported a 26% increase in its June quarter net profit on higher interest on loans, fees, and commissions. Net profit in the fiscal first quarter rose to Rs.661.38 crore from Rs.525.04 crore a year ago. Ten analysts polled by Bloomberg had forecast a net profit of Rs.651.30 crore."/>
IndusInd Bank Q1 profit rises 26% to Rs.661.38 crore on higher income [Mint, New Delhi]
Tata Steel Ltd rose on Monday as investors reacted positively to the company's weekend announcement that it would seek a joint venture partner for its entire European business, putting the sale of its UK assets on the back-burner. Shares of Tata Steel rose 2.72% to Rs.327.25 apiece on BSE, while the benchmark Sensex gained 1.84% to 27,626.69 points. On Friday night, Tata Steel said it was looking at alternatives to the sale of its UK assets, plans for which..."/>
Tata Steel shares rise on Europe joint venture bid [Mint, New Delhi]
LafargeHolcim at an enterprise value of $1.4 billion, in what could be the largest deal financed by bonds in India. The company, best known for its success in the detergent business in the 1970 s and 1980 s--it was a formidable competitor to Hindustan Unilever Ltd--plans to raise about Rs.4, 000 crore from the domestic corporate bond market to part-finance its purchase, said three bankers familiar with..."/>
Nirma to buy Lafarge India assets from LafargeHolcim for $1.4 billion [Mint, New Delhi]
IndusInd Bank Ltd's strong run continues. Its loan book grew 30% in the June quarter. Net interest income rose by 38%, with margins being stable; and while growth in non-interest income fell as expected, the drop was negligible."/>
IndusInd Bank meets high expectations [Mint, New Delhi]
Rural Electrification Corp. and Power Finance Corp. will offer loans specially designed for renewable energy projects as they seek to help the sector meet its massive financing requirements, minister for power, coal, mines and renewable energy Piyush Goyal said. Goyal told reporters that the government was also planning to set up a dedicated fund for making equity investments in renewable projects, but was waiting for..."/>
REC, PFC to step up clean energy funding: Piyush Goyal [Mint, New Delhi]
KeyCorp announced its deal for First Niagara Financial Group last fall, elected officials warned massive job cuts could follow the acquisition. There were fears Key would eliminate hundreds of branch jobs. And no one knew how many jobs might be lost at operations like those at First Niagara's Larkinville headquarters, due to duplication with positions Cleveland-based Key already had."/>
Region dodges dire job-cut predictions for Key-First Niagara deal [The Buffalo News, N.Y.]
Nordstrom has built a reputation for going the extra yard for customers. During its upcoming anniversary sale, the high-end department store, along with the owner of Northgate Mall, will literally be going a few extra yards for customers. The two are partnering to extend by a few yards a valet service currently in place while the mall is building a parking deck where parking lots used to be."/>
Nordstrom extends Northgate valet service during big sale [The Seattle Times]
KeyCorp is planning to shutter five First Niagara branches in Pennsylvania, including one in Emmaus, as it completes its $4.1 billion acquisition of the Buffalo-based financial institution. As part of its branch consolidations announced Monday, KeyCorp plans to close the First Niagara branch at 502 State Ave. in Emmaus in October. That branch will be consolidated into the nearby First Niagara branch at 731 Chestnut St. in Emmaus."/>
KeyCorp to close First Niagara branch in Emmaus [The Morning Call (Allentown, Pa.)]
Biggest Mortgage Lenders and Servicers [Mortgage Daily]

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