Much more than hot air

The Ambanis are ready to announce their next big gusher. This time it’s on the West Coast which is really their turf. At the same time,...

The Ambanis are ready to announce their next big gusher. This time it’s on the West Coast which is really their turf. At the same time, geologists have raised questions about their East Coast find. They say the Ambanis’ claims that they know the size of what they have found already were premature since the detailed drilling has not reached the target depths yet. Also, the plans of converting natural gas into liquid fuel have been economically questioned. But, of course, the Ambani managers probably know more on technology’s next big leap than the average oilman.

So, while the Ambanis try to dispel all these false claims, the series of finds and subsequent statements are creating quite a tizzy in the industry. But meanwhile, what they’ve managed to do is, as usual, keep the industry guessing about their next move.

Takeover tales

It’s not surprising to see Rana Talwar making news again, and creating a stir in the business world. Not to be outdone by the market, Talwar has decided to keep abreast of the latest mergers in the banking sector, by trying his hand at an acquisition. The fund floated by Talwar, Sabre Consulting Worldwide, has submitted a formal offer for taking over Centurion Bank. And since the new investors are expected to induct professionals of their choice at the board and senior levels in the bank, Talwar might just be introducing his old colleague, Ravi Behl into the bank. The merger marks the resurgence of the banker-entrepreneur. This is not the first time Talwar has created a stir in the banking sector. He did it when he resigned from Citicorp as head of retail banking in North America and Europe, to become head of corporate banking in India, Pakistan, Africa and the Middle East for Britain’s Standard Chartered Bank PLC. Citicorp colleagues at that point, had expressed surprise at why Talwar was once again trying his hand at corporate banking.

Story continues below this ad

They soon realised that this was just a stepping stone for Talwar, who soon became CEO of Stanchart. While at Stanchart, Talwar spearheaded a number of ventures and acquisitions such as the acquisition of Grindlays. Going by his past record it is very probable that Talwar will indeed make a success of this bid. With his banking acumen and verve to try out new ventures, one can’t thing of anyone better to front-end the deal.

Bengal not taboo any more

Yet another new software development in Kolkata, and this time it is India’s leading software solution provider Tata Consultancy Services who is expanding its presence in the State. The company already has a software development centre in Salt Lake and has acquired another 1.3 acres to set up the new software development centre as part of its expansion plans in Bengal. For the Tatas, this is a major foray into Bengal, not one of their favourite destinations in recent years. TCS CEO S. Ramadorai is gung ho about the new centre and said that the TCS employee base in Kolkata will soon exceed 2000. Investment for the project, word has it, would be upward of Rs.50 crore. TCS maintains that the expansion plan decision comes in the wake of an upsurge of business from offshore contracts and international clients. However with the computer major IBM Global Services investing in a new software development centre in Kolkata and also doubling its core software developer strengths, TCS is clearly not about to be left behind.

(Dilip Cherian, runs a public affairs firm Perfect Relations. He is an economy watcher and tycoon tracker. None of the people he writes about are his clients. Your insider tales are welcome at dilipcherian@now-india.net.in)