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Reliance Energy, as Reliance Infrastructure, to better reflect its business portfolio. The change is subject to receiving approval from shareholders. Anil Ambani’s REL is constructing India’s tallest ‘100-storey’ corporate park in Hyderabad and has plans for SEZs in Noida and Mumbai.

Print Edition: April 6, 2008

Anil Ambani
Anil Ambani
Renamed: Reliance Energy, as Reliance Infrastructure, to better reflect its business portfolio. The change is subject to receiving approval from shareholders. Anil Ambani’s REL is constructing India’s tallest ‘100-storey’ corporate park in Hyderabad and has plans for SEZs in Noida and Mumbai.

Grew: By 3 per cent, car sales in February to 94,756 units, compared to 92,618 units in the same month last year. Overall car sales in the first 11 months of the current financial year have grown 11.7 per cent, despite high interest rates. For motorcycles, the negative trend continued in February as sales fell 17.7 per cent to 425,000 units compared to 516,000 units in the corresponding month last year.

Opened: By the State Bank of India, its 10,000th branch at Puduvayal in Tamil Nadu. It is only the second bank in the world, after China’s ICBC Bank, to have there many branches. SBI Chairman O.P. Bhat has said that his bank plans to open 2,000 more rural branches over the next two years.

Ranked: By the Washington-based Future Industry Association (FIA), India’s National Stock Exchange as the ninth largest exchange in the world for derivatives trading. According to its annual report on global trading volumes, NSE has moved up six places from its rank last year. Two other Indian bourses, MCX (#28) and NCDEX (#30) have retained their places in the top 50.

Scrapped: By Japanese electronics giant Sony Corp, the production of cathode ray tube televisions marketed under the popular Trinitron brand. Sony’s CRT production for the year ending March 31, at 2.8 million units, is expected to be 40 per cent lower than in the previous year.

Sabeer Bhatia
Sabeer Bhatia
Named: By World Economic Forum, 17 Indians, including Sabeer Bhatia, founder of the Hotmail e-mail brands, now owned by Microsoft, in its list of Young Global Leaders for 2008. GoAir Managing Director Jeh Wadia, SEBI Executive Director Sandeep Parekh, and SKS Microfinance CEO and Founder Vikram K. Akula were also similarly honoured.

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