Mahindras win bid for Satyam

Tech Mahindra, India’s sixth-largest software exporter, on Monday won the race for a 31% stake in embattled Satyam Computer Services for Rs 1,756 crore, at a bid price of Rs 58 a share.

Venturbay Consultants Private Ltd, a 100% subsidiary of Tech Mahindra, a part of the Rs 33,500-crore Mahindra Group, will acquire over 30 crore shares in Satyam for the 31% stake and an additional 20% through the mandatory open offer to the public.

The Satyam board will now recommend the winner to the Company Law Board for its approval.

The acquisition would catapult Tech Mahindra into the big league of IT services companies, with the likes of Tata Consultancy Services (TCS), Infosys Technologies and Wipro Technologies.

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Auto majors gear up to develop greener, smaller cars

The Indian automotive industry is set for a major transition, with manufacturers in the country looking at developing greener and more compact cars, in a bid to combat the on-going surge in the fuel prices and to stay competitive in the budget conscious market.

"In the next three to five years,the Indian automotive sector will see a major transition from conventional cars to greener and more compact cars," say Manish Khurana and Saurabh Jain, automotive analysts, Data monitor Ltd.

The work has already begun. Companies like Tata Motors have not only gone ahead and developed cars like Nano, which is set to race through the super mini segment in the country, but have also announced plans to introduce a petrol electric hybrid version of Indica. Market leader Maruti Suzuki is also set to launch an LPG (liquid petroleum gas)version of its popular model M800. This is over and above the company's LPG variant of WagonR.

Even Mahindra & Mahindra does not want to be left behind and has already unveiled a diesel electric hybrid version of Scorpio at the recent Auto Expo in New Delhi.

Says Arun Jaura, chief technology officer, Mahindra group, "We have a presence in hydrogen-hybrid, bio-fuel, electric, and CNG technologies.And now are working with the government on hydrogen-CNG technology." He ex plains that in addition to the technology changes the company is undertaking, there has also been reduction in the weight of the cars with more use of aluminum, while engines have been made smaller but with more power."All this is in line to make cars more fuel efficient." "The power density in the engine has gone up than what it was in the past, "Jauraadds." Earlier,the power in the engine was 25-30KW/litre,which now stands at 40KW/litre," he said.

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