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Market valuations of older IPL franchises are less than 30 per cent of the bids of the newer ones - Pune and Kochi - even taking future cash flows into account.

Cognizant with $4.59 billion revenues as of 2010 has been ranked at 484 in the Fortune 500 list, a company statement here said today.
Tata International Managing Director Noel Tata has taken over as the Chairman of group's logistic arm - DIESL and has revamped its board in view of expansion.
Global auditors PricewaterhouseCoopers, however, did not specify the amount it has agreed to pay to settle the suit with US investors in the multi- crore Satyam fraud.
The second-biggest software exporter has selected Kamath as a replacement to its present chief mentor N.R. Narayana Murthy, in a bid to spur its growth.
In 2009, Vishal Retail got into financial trouble and piled up around Rs 730 crore in debt and was forced into a corporate debt restructuring programme.

he company, a 50:50 joint venture between India's Bharti Enterprises and US-based Walmart Stores, announced opening of a cash-and-carry store in Ludhiana in Punjab.
Oberoi Realty on Wednesday reported 30.16 per cent jump in its consolidated net profit for the quarter ended March 31, 2011, at Rs 136.66 crore.
Having started off on the wrong foot in India, in a joint venture with Titan, Timex has been struggling to reinvent itself after the JV ended a few years ago.