Business News Stories in Brief

ICICI Bank up 5.4% on RBI statement
The Reserve Bank of India has come out in support of ICICI Bank, saying the bank has sufficient liquidity, including in its current account with the central bank, to meet the requirements of its depositors.

TCS wins Wall Street Journal Global innovation technology award
Tata Consultancy Services, India’s biggest services and business solutions firm has announced that The Wall Street Journal, the world’s leading business publication, has selected TCS’ mKrishi service as the winner of its 2008 Technology Innovation Award in the wireless technology category.

Philips to enter baby-care segment
Consumer electronics and lifestyle products giant Philips is all set to kick off Avent brand of mother- and baby-care products in India.

Renold buys Indian chain business
British industrial chain maker Renold Plc has taken a 75 per cent stake in the industrial chain business of Indian-quoted group LG Balakrishnan & Bros (LGB). The terms of the deal remain undisclosed.

Reliance Money to enter investment banking business
The Anil Dhirubhai Ambani Group Reliance Money on Tuesday said it will foray into the investment banking sector and has obtained a merchant banking licence from market regulator Securities Exchange Board of India.

HPCL Partners With IBM To Deploy A Path-Breaking RFID Solution
IBM recently announced that it is implementing an innovative Radio Frequency Identification (RFID)-based solution for Hindustan Petroleum Corporation Limited (HPCL), a Fortune 500 company and a leading downstream petroleum organization (Refining and Marketing) in India.

Ashok Leyland signs JV with John Deere
Ashok Leyland, India's second largest commercial vehicle maker today signed a joint venture agreement with John Deere for manufacturing and marketing of construction equipment's. John Deere is one of the world's leading providers of products in the agriculture and construction sector.