ICICI to invest $287 m in Jaypee Infratech
Jaiprakash Associates, on Tuesday, announced that its group company Jaypee Infratech Ltd has entered into a strategic investment agreement with ICICI Bank under which the Bank will be investing approximately Rs 11,50 crore (US$287.5 million) by way of subscription to 1 crore equity shares of Rs 10 each (representing one per cent of the paid up share capital), for cash aggregating to Rs 250 crore (US$62.5 million) and the balance Rs 900 crore (US$225 million) as long term loan in Jaypee Infratech Ltd.

Corporation Bank to raise Rs 500 crore
Corporation Bank, on Tuesday, said it would raise Rs 500 crore through bonds to meet its capital requirement even as it declared interim dividend of 45 per cent for the year 2007-08.
The board of directors of the bank has approved the raising of the capital funds by Rs 500 crore through Tier II Bonds, the Bank said in Mumbai. Earlier, in August 2007, the bank had announced to raise Rs 500 crore through issue of Tier II capital bonds. The bank had raised Rs 300 crore last year and in the second tranche, it completed raising of the remainder Rs 200 crore on March 19.

New container service from City to Mumbai
Pearl Harbour Container Terminal (PHCT), on Monday, announced in Bangalore that it has joined hands with Hind Terminals Pvt Ltd (HTPL), a part of Samsara group, to offer a train service from Bangalore to Nhava Sheva port (near Mumbai) for movement of export and import containers. HTPL ventured into the container freight station & inland container depot development and management business with a very long term business objective in mind. HTPL will provide a one-stop solution for logistics services covering transportation from and to the ICD/CFS, warehousing, de-stuffing, stuffing, handling and transportation- rail and road- and all allied activities. HTPL has also obtained licence from Indian Railways for operating container trains for a period of 20 years for “All India” category, said the company.

Dell laptops to be sold through Croma

Dell and Croma, a consumer electronics retailer in India, announced on Tuesday the availability of Dell laptops and desktops (Dell Products) in Croma stores. From April, customers will be able to experience and place order for a wide range of Dell Products at select Croma stores in Mumbai, said the company. This is the first time that Dell Products will be made available in India through a retail outlet . The Dell XPS and Inspiron systems will be available at the Croma stores with Dell branding & support.

BEML declares all time high dividend of 55 pc
BEML Ltd has declared an all time high dividend of 55 per cent as interim dividend for the financial year 2007-08. BEML CMD V RS Natarajan, on Monday, presented a cheque of Rs 12,37,50,000 to A K Antony, Minister of Defence as interim dividend for 54 pc of company’s shares held by govt.

Federal Bank’s three new branches in K’taka 
Kerala-based Federal Bank, on Tuesday, announced that it is opening three more branches in Karnataka on Wednesday as part of its plan to open 26 branches across India. The new branches will commence operation at Tumkur, Gulbarga and Chithradurga. With the addition of these three branches, Federal Bank will increase its number of branches to 36 in the state.
Federal Bank Additional General Manager CP John said the bank is expanding indirect financing in Karnataka and Bangalore region’s business volume stood at Rs 2,900 crore for the current fiscal, he added.

HSBC India launches Platinum credit card
HSBC India, on Tuesday, launched the HSBC Platinum Card targeted at the mass affluent class of India, with relatively high disposable income. Positioned on the “Never Settle for Less” platform, the HSBC Platinum card targets customers who do not compromise on their travel, lifestyle or health requirements and seek the best in every aspect of life, said a company release.
The HSBC Platinum Card offers a range of privileges, ranging from the welcome gift that a customer can get (a Mont Blanc Pen or 5000 reward points), to an attractive rewards programme that helps cardholders earn points faster.
Customers will get additional points when they make purchases outside the country. The annual fee for the card is Rs 3,999 and the joining fee is Rs 1,999.