Global financial services giant Merrill Lynch has acquired 50% stake in the Salarpuria Group’s Rs 150 crore five-star hotel project in Bangalore.

The company has picked stake in the special purpose vehicle (SPV) floated to build a five-star hotel in Bangalore. The proposed hotel, which will have 250 rooms, is to come up on 300,000 sq. ft. on the Outer Ring Road (ORR) between Sarjapur and Marathalli, opposite Cisco corporate office.

SAP and Wipro have jointly launched a ready-to-use ERP solution for mid-market Indian companies.

The solution package includes SAP Business All-in-One integrated with Wipro NetBlade, Modular Servers based on Intel Multi-Flex technology, complete with implementation services and lifecycle support services together with operating system SUSE Linux Enterprise from Novell, which would deliver short time-to-deployment of end-to-end business processes. The solution will offer low total cost of ownership (TCO) to mid-sized companies in the manufacturing, service and trade industries.

Tata Motors has revoked the proposed Rs 7,200-crore Rights Issue on Wednesday. The right issue was planned to acquire the Jaguar and Land Rover brands by TATA. The factors such as sliding stock markets and a steady decline in its share price have forced TATA group to roll back on the matter.

The company has also decided to scrap its proposed Convertible Preference Share issue of Rs 3,000 crore. The company will divest its investment in the next six to eight months. The funds from divest investment would be used for repaying the bridge loan taken for the JLR acquisition.

BSEL Infrastructure Realty, one of the leading infrastructure development company, has informed that its board of directors has decided to raise up to US$100 million.

The fund would be raised by way of GDR/ADR/FCCB/ and or other securities linked to equity / preference shares and or any instrument or securities representing convertible securities.

Hero Honda, the country’s largest two-wheeler manufacturer, has increased motrocycle prices across various models by up to Rs 1,500 owing to rising input costs.

The price hike makes its high-end bike ‘Karizma’ dearer by Rs 1,500, while mid-range bikes like ‘Splendor Plus’, ‘Passion Plus’, ‘Hunk’ and ‘CBZ’ will be costlier by Rs 600 to Rs 850.

The CD Deluxe, entry level two-wheeler manufacturer will now be costlier by Rs 100. Earlier this month, the company has increased the price of its 100cc bikes by up to Rs 850 to offset rising costs.

Kirloskar Electric Company (KEC), one of India's leading manufacturers of electrical and power equipment, has informed that its board of directors has finally approved acquisition of about 95% stake in German manufacturing company, Lloyd Dynamowerke & Co. KG (LDW) and acquisition of 100% holding in Lloyd Beteiligungs from CMP Fonds I.

LDW, a former member of AEG, manufactures electrical rotating machines and drive systems. Its clientele includes Siemens, Alsthom, Thyssen Krupp and Gottwald. The acquisition cost is, however, not available.