Pfizer Inc., the world's leading research-based pharmaceutical company, announced that it has decided to buy additional 33.77% equity stake in its Indian division in order to increase its holding stake to 75%.  

The New York based pharmaceutical major said that it will spend around Rs 6.8 billion on the deal.

The acquirement will be done through Pfizer’s wholly-owned arm, Pfizer Investments Netherlands B.V.

The company seeks to purchase additional stake at Rs 675 per share.

Tata Group-owned British car maker Jaguar Land Rover (JLR) has entered into the advanced stages of talks with the British government and banks on a loan of £800 million (Rs 5,840 crore), which could help the company on stream and save 15,000 jobs.

According to reports, talks were at a delicate stage and depended upon whether the Midlands-based car manufacturer could give enough security to the administration and a syndicate led by Royal Bank of Scotland and Lloyds for the loans needed.

Fortune Park Hotels Pvt Ltd has made announcement about the opening of four new hotels in India by July 2009.

A top company representative said that the wholly-owned subsidiary of ITC Ltd will be set up in Mussoorie, Jaipur, Bangalore and Manipal by July.

The hospitality firm also announced that it plans to build two such hotels in Bangalore and Coimbatore in the next two years with a total investment of Rs 120-150 crore.

The company opened Fortune Inn Grazia at Noida on Friday.

Nissan Motor Company, a multinational auto manufacturer, has big plans for India.

The Japanese company aims to launch 4-5 models by the next four years
out of which the first car would roll out before summer 2010.

Mr. Kiminobu Tokuyama, Nissan Motor India's Managing Director and CEO,
said, “We propose to launch four to five models over the next four-five
years in the Indian market. Our first car is scheduled for launch by
summer 2010.”

Nissan is establishing Rs 4,500-crore car-manufacturing plant in

New Delhi - With business shrinking in face of a global economic downturn, Indian outsourcing major Infosys has sacked 2,100 employees, and described them as "poor performers," news reports said Saturday. "Some of these employees have been asked to go while some have left on their own," V Balakrishnan, chief financial officer of Bangalore-headquartered Infosys was quoted as saying by the PTI news agency.

The company put the employees on a performance improvement courses and those who showed no change were asked to leave, while some quit, Balakrishnan said.

Industrial Development Bank of India Limited (IDBI) a leading public sector bank, has revealed its plan to raise capital worth Rs 5,000 crore through senior, upper and lower Tier II bonds in 2009-10.

The decision was taken by the company to shore up its capital adequacy ratio for supporting business growth.