The downturn has claimed another victim. The memorandum of understanding (MoU) between the Hero group and German insurer Ergo — a part of
the Munich Re group — has been called off. Hero, the country’s largest two-wheeler maker, said it has decided to focus on its core business.
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Economic Times

Mahindra and Mahindra has increased its stake in the joint venture with its South African partner to 90% from 51%, and invested a
further 30 million rands ($3 million) in the country’s automotive business.
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Economic Times

Tata Teleservices Maharashtra (TTML) is expected to close this fiscal with the highest-ever revenues of Rs 2,000 crore. The Tata Group
company has invested over Rs 1,750 crore in its wireline and wireless networks, and will launch GSM services in Mumbai in the second-half of this year.
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Economic Times