Wal-Mart, India Bharti to hold news conference

(Reuters) - NDTV Profit television said Bharti Enterprises chief Sunil
Mittal said 8 joint stores had been finalised, with the first
store formats to be cash-and-carry.




Earlier this year, Bharti and Wal-Mart agreed to form a
joint venture for cash-and-carry stores and back-end operations
in India.


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JPMorgan India loses 4 senior executives to rival

(Reuters) - "We reiterate that India continues to be a priority focus for JPMorgan. We propose to make additional announcements shortly," he said.




An Indian newspaper said the four executives -- Sameer Lumba, its head of equity sales; Rohit Shah, its head of sales and trading; Rajiv Gala and Manish Dabir -- were joining the institutional equities arm of JM Financial


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India Tata Steel to buy 35 pct in Mozambique project

(Reuters) - India's top private steel maker Tata Steel Ltd. said on Friday it would spend A$100 million to buy a 35 percent stake in a Mozambique coal project run by Australia's Riversdale Mining Ltd..

Tata Steel, which bought Anglo-Dutch Corus for $12.9 billion this year to become the world's sixth-largest steel maker, said it would source coking coal from the project for Corus' plants in the U.K. and Europe, and for Tata's Indian units.


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UPDATE 1-Virtusa says IPO priced at $14/shr

(Reuters) - The company said it expects net proceeds of about $53
million, of which it plans to use about $30 million to fund the
construction and build-out of a facility on its planned campus
in Hyderabad, India.




The remainder of these proceeds will be used to finance the
expansion of its global delivery centers or capacity in
Chennai, India and Colombo, Sri Lanka, the hiring of additional
personnel, sales and marketing activities, capital expenditures
and the costs of operating as a public company.


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UPDATE 1-India Dr. Reddy's Q1 net up 30.5 pct, lags forecast

(Reuters) - MUMBAI, July 23 - Indian drug maker Dr. Reddy's
Laboratories Ltd. on Monday missed expectations with
a 30.5 percent rise in first quarter net profit, although
demand for cheaper generic drugs was strong as countries look
to cut healthcare costs.




"We remain confident about our performance. This year it
will be all-round secular growth, traditional businesses are
showing good potential. There could be mix of organic and
inorganic growth," Chief Executive G.V. Prasad told Reuters.


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Zanzibar to privatise clove industry

(Reuters) - Zanzibar will soon privatise its clove industry in a bid to revive what was once the Indian Ocean Islands' main foreign exchange earner, the archipelago's finance minister said on Thursday.

Cloves were once the main foreign exchange earner on the so called "spice islands", but the industry collapsed in the 1980's after international prices tumbled.


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Vodafone posts solid Q1 as India, Turkey shine

(Reuters) - By Kirstin Ridley, European Telecoms Correspondent



LONDON, July 18 - Mobile phone giant Vodafone Group Plc posted robust first-quarter revenue and customer growth on Thursday as booming business in India and Turkey helped offset tough German and Italian markets.


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First Indiana says to delay Q2 results

(Reuters) - On July 9, Marshall & Ilsley, Wisconsin's largest bank,
agreed to buy First Indiana for about $529 million, or $32 a
share in cash.





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