Big Bazaar, the retail chain of the Kishore Biyani spearheaded Pantaloon Group, revealed its plans to open 48 new hypermarkets in Maharashtra in the next two years.

Presently, Big Bazaar has 103 hypermarkets in 62 cities across the country, including 23 in Maharashtra. The company has selected location to open hypermarkets in Ghatkopar, Malad and Solapur in Maharashtra.

Rajesh Exports Ltd, the country's largest manufacturer of Gold & Diamond Jewelry has postponed its real estate development plans by at least 18-24 months on concerns over slowdown in property demand.

A top company official said, "This is not a wise time to get into real estate business. We will not get into construction activities for the next one-and-a-half to two years."

Piramal Healthcare has acquired New York-based Minrad International, a manufacturer of generic inhalation anaesthetic drugs for $40 million.

Under the arrangement, the shareholders of Minrad will receive $0.12 a share in cash and Piramal will also acquire Minrad's 8 per cent senior secured convertible notes from the note holders.

The Union Government announced to issue the oil bonds worth Rs 22,000 cr to three oil marketing companies of the country. Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum would get Rs 11,975.51 crore, Rs 4,693.73 crore and Rs 5,330.76 crore respectively.

Indian software and outsourcing giant Wipro Technologies, is all set to buy the IT arm of Citigroup for around $127 million. Citi Technology Services deals with IT services and solutions of City group's Indian operations.

Citigroup would outsource all future infrastructure management contracts to Wipro. The Indian firm would also absorb about 2000 employees of City in its Mumbai and Chennai offices. It would provide all infrastructure and development related aids to the bank for six years, to assure revenue of at least $500 million.

The family reunion between the DMK and the Marans has boosted the investor sentiment in Kalanidhi Maran owned, Sun Network.  

Singapore based, Nalanda Capital has picked up 1.8% stake in the company, for a little over Rs 100 crore through an open market transaction on the Bombay Stock Exchange and also by deals through   Kirloskar Oil Engines and Carborundum Universal.

Nalanda bought 70 lakh shares of Sun at Rs 145 a share from Indiabulls Financial Services and the total deal is worth Rs 101.5 crore.