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India to get more Apple suppliers as iPhone production picks up: Experts

If reports that Apple Inc plans to triple its iPhone production in India come true, it is likely to help the country become a supply hub for the American company. There are some 190 Apple suppliers globally, but only 12 have manufacturing facilities in India now.

Apple’s strategy is to focus on India and a clutch of other countries as it diversifies its supply chain out of China. The American technology giant has reportedly instructed three of its biggest vendors, Foxconn, Pegatron, and Wistron, to increase production capacity in India. A report by JP Morgan said recently that Apple, to diversify production, is considering making 25 per cent of its handsets in India by 2025.

Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities

The Tata Group is looking to buy a majority stake in India's eighth largest mutual fund UTI Asset Management Co (AMC). The group is in final stages of negotiation to buy the stake from four state-owned financial entities -- Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda – which together own 45.16 per cent stake in UTI AMC.

According to a report in The Economic Times, a final agreement is being sought on the deal valuation. People privy to the development said the internal approvals are in and the Tata Group has received in-principle nod from the other big investor in AMC -- global investment management firm T Rowe Price Group, which holds around 23 per cent.

Wipro acquires packaged traditional food and spices brand Nirapara

Wipro Consumer Care on Monday announced its entry into the packaged food and spice segment by acquiring Nirapara, one of the largest-selling traditional food brands in Kerala. The deal size was not disclosed by the company.

The Wipro group arm has signed a definitive agreement with Nirapara, a company statement said.

With this acquisition, Wipro Consumer Care joins FMCG firms such as Dabur, Emami, Tata Consumer Products Ltd and ITC, which are already present in the spices market.

BSNL to raise up to Rs 4,200 crore via 10-year bonds on December 21

Bharat Sanchar Nigam Ltd (BSNL) plans to raise up to Rs 4,200 crore through government of India-guaranteed bonds maturing in 10 years on December 21, a merchant banker close to the issue said.

The total size of the issue consists of a Rs 500-crore base issue and Rs 3,700 crore in greenshoe, dealers said. Bidding for the bonds will take place between 10:30 am and 12 pm on December 21 and pay-in will take place on December 23.

HDFC Bank in talks for loan of up to $1 billion

HDFC Bank is seeking to raise as much as $1 billion via an offshore loan, Bloomberg reported on Dec 19 citing people with knowledge of the matter.

The loan tenor could range from 1-5 years, the report said citing unidentified sources. HDFC Bank is seeking to tap the market as early as the coming month, in anticipation of an increase in credit demand.

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