Ortel IPO fails to liquidate PE's holding AbhiBus to raise $10 million from PE funds Private equity-venture capital space witnesses churning at top From despondency to hope in one year If there is one sour point for private equity (PE) investors in India, it's the lack of exits. Most PE fund managers have struggled to generate enough number of exits on their investments and return capital to their investors. However, ICICI Venture has posted exits worth $975 million across 41 deals since April 2009, including $760 million in PE exits.

April 2009 is when Vishakha Mulye took over as the managing director and chief executive officer of ICICI Venture Funds Management Company.

The Directorate General of Civil Aviation (DGCA) recently issued show-cause notices to a little over two and a half dozen Air India pilots for reporting late. The regulator said they did not follow regulations and the airline’s operation manual on reporting time, adding that was tantamount to a violating safety. Pilots, however, contend this might be outside DGCA’s remit.

DGCA sent the notice after surprise checks at Mumbai and Delhi airports earlier this month. Last month, it sent a notice to a Jet Airways pilot for being late by 10 minutes. This comes in the wake of the Air India management’s move to cut salaries of staff responsible for flight delays.

With Microsoft setting up three data centres in India, the Redmond (US)-based company is expected to get a leg-up in grabbing a bigger share of the Indian cloud computing business.

Globally, Microsoft has spent about $4.5 billion on setting up 19 data centres, as it accelerates its strategy to be a ‘mobile first, cloud first’ company. In 12 months, the company has expanded such centres from eight countries to 19, including Australia, Japan, China, and India.

Now travellers can book train tickets four months in advance as the Railways has decided to extend the advance reservation period from 60 days to 120 days, with effect from April 1.

Officials said the decision also seeks to check the tout menace and facilitate genuine passengers to avail the reservation facility.

The benchmark BSE Sensex rose over 70 points in early trade today on the back of gains in stocks of metal, IT, healthcare, technology and FMCG sectors amid a mixed trend in other Asian markets ahead of the outcome of the US Federal Reserve’s policy meet.

The 30-share barometer, which rose 298.67 points in the previous session, gained 70.59 points, or 0.24 per cent, to 28,806.97 in early trade.

Tata Motors shares may fall on lower-than-expected sales at key unit Jaguar Land Rover (JLR) in February.

JLR’s Feb 15 wholesales came in at 38,541 units, down 1.2 pct yoy; below estimates of about 42,200 units – Analysts.

Domestic natural gas prices are likely to be slashed by over 10% to $5.02 per unit from April 1, hitting revenues of companies like ONGC and Reliance Industries.

The prices of natural gas are due to be revised from April 1, based on average rates at key international hubs. The new rate will be around $5.02 per million British thermal unit (mmBtu) as compared to the current price of $5.61, sources privy to the development said.

ICICI Bank has under-performed both Axis Bank and the S&P BSE Sensex in 2015 so far. As compared to gains of 13.3 per cent in Axis scrip and 3.4 per cent in Sensex, the ICICI scrip has corrected about six per cent this year. Consequently, ICICI Bank now trades at a 16 per cent discount to Axis on a price/book value basis, higher than its historical valuation discount of about 10-11 per cent vis-à-vis Axis. ICICI Bank trades at 2.2 times FY16 estimated book value versus Axis' 2.6 times. Analysts, however, believe this valuation discount is unjustified and should reduce over time.

H-1B workers replacing Americans have minimal skills and little or no business knowledge, a whistleblower from Indian IT giant Infosys has said and asked lawmakers not to increase the number of much sought-after visas and plug in the loopholes in the immigration system.

Jay B Palmer, whose visa fraud case against Infosys had led to a $34 million visa fraud settlement -- the largest in US history -- alleged that no matter who is chosen, no matter what their skill set is, H-1B workers are coming to the US and they have to learn the needed skills once they get here.

The government has firmed up a list of PSUs to be divested next fiscal, starting with BHEL in April, in a bid to meet the Rs 41,000 crore stake sale target for 2015-16.

Official sources said the Disinvestment Department has completed overseas roadshows for BHEL stake sale in London, Singapore and Hong Kong.

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