If the early signs are right, then Network 18’s letting go of 200 people may just be an aberration. Across the Rs 80,000 crore Indian media and entertainment industry, hiring is picking up.
Global rating agency Fitch today downgraded long-term rating of Ansal Properties and Infrastructure (API) due to restructuring of company"s debt.
Herta Müller, the new Nobel laureate in literature, has been a fierce critic of Ceausescu’s regime in Romania. She is highly regarded in Europe’s academic circles. She had received over 20 literary awards, including the IMPAC, before winning the Nobel this year. And I must confess an unliterary complaint: having read only two of her books, The Land of Green Plums and The Appointment, I have about as much enthusiasm for reading her as I do for swimming through a pool of cold porridge.
Higher MAT, depreciation also take their toll, says company
After having launched a new IT policy this month offering incentives to attract investments in the sector, the Punjab government will now review the proposed 18 IT SEZ projects and IT parks in a meeting tomorrow to decide on "serious" IT players.
Domestic passenger car sales have recorded 33.88 per cent increase at 1,32,615 units in October from 99,052 units in the same month last year.
Focusing on the education sector, the Uttarakhand government has announced setting up of a National Institute of Technology (NIT) in Pauri district at a cost of Rs 400-Rs 500 crore.
Ram Prasad Sahu / Mumbai November 09, 2009, 0:04 IST
The first whiff that something had gone bad came 18 months ago, when officials from the Enforcement Directorate (ED) apprehended an individual at the Mumbai international airport as he was about to board an aircraft bound for Bangkok.
Hinduja Group company, Gulf Oil Corporation today said its subsidiary has entered into an agreement with Biocon to sell its Active Pharmaceuticals Ingredients (API) undertaking, for an undisclosed amount.
First issue to attract investors under anchor investor scheme.
State-run National Hydro-electric Power Corporation (NHPC) Limited, the largest hydel power company of the country, is betting big on Arunachal Pradesh which is estimated to have hydro-power potential of more than 50,000 megawatt(Mw).
The country"s largest passenger car manufacturer Maruti Suzuki India (MSI) is planning to hike prices on rise in input costs, a company official said.
Auto major Hyundai Motor India Ltd (HMIL) on Monday entered into a memorandum of understanding (MOU) with Chennai-based Indian Bank.
In spite of a 15 per cent decline in the kharif rice output, the government’s rice procurement in the ongoing kharif marketing season is marginally up at 14.85 million tonnes due to an increase in purchase from the ‘grain bowl’ states of Punjab and Haryana even though procurement is down in states like Uttar Pradesh (UP), Andhra Pradesh (AP).
India’s sugar output in the first two months of the new season that began October fell to 1.7 million tonnes, down 100,000 tonnes from the year ago level, due to delayed crushing in the key state of Uttar Pradesh and lower recovery from cane, a senior industry official said today.
Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter ended the year on a high note with domestic sales growing by 42.6 per cent while exports grew by 9 per cent, said a company press release. Cumulative growth stood at 22.6 per cent for the month ending December, 2009.
Healthcare chain Apollo Hospitals today said it has opened a multi-specialty care centre, Apollo Bramwell Hospital, in Mauritius.
After storming back to power, the Congress Legislature Party (CLP) in Maharashtra on Saturday authorised party chief Sonia Gandhi to choose its new leader who will be the chief minister, senior party leader A K Antony said.
The Konark Knowledge Park, a Rs 100-crore biotech-pharma-IT park being developed by Hyderabad-based Bharat Biotech International Limited on around 65 acres of land at Andharua on the outskirts of the city, would have a Biotechnology Incubation Centre spread over 10 acres.
ISRO initially planned to have Russian lander, rover for project.
Euphoric over finding traces of water by a Chandrayaan payload, confirmed by NASA"s spacemate onboard the country"s maiden moon mission, India is mulling exploring lunar surface deeper for water in its next Odyssey.
Two persons died of swine flu today taking the total deaths to four in Andhra Pradesh.
Leading tyre maker MRF today posted a net profit of Rs 119.41 crore for the quarter ended December 31.
Sanjaya Baru / New Delhi December 28, 2009, 0:52 IST
T N Ninan / New Delhi August 29, 2009, 0:12 IST
The Supreme Court today dismissed a special leave petition (SLP) filed by multinational drug major Hoffman-La Roche challenging a Delhi High court order of April that allowed domestic drug major Cipla to sell a generic version of lung cancer drug Tarceva (erlotinib) in India.
Swine flu worries and weak cues from the Asian markets dragged the markets today, despite strong June IIP numbers. However, markets recovered towards the close, to settle near the day"s high, led by fresh buying in select index heavyweights. Realty stocks, led by DLF, were the major benefeciraies in the pull back.
Private hospitals in Mumbai today agreed to set up isolation wards for treatment of swine-flu affected as government said patients can get admitted to such hospitals once officials found the facilities satisfactory.
Domestic pharma major Ranbaxy, now owned by Japan"s Daiichi Sankyo, cut the remuneration to its directors by about Rs 3.5 crore in last fiscal, but the payout still exceeded the limits prescribed by the government.
Dr Reddy"s Laboratories (DRL), the second largest drug maker in the country, would invest about Rs 750 crore ($ 150 million) in setting up two special economic zones (SEZs)- one in Visakhapatnam and another in Hyderabad.
The Supreme Court will decide whether mutual fund brokers can resort to a process (dividend stripping) of creating a short-term loss to avoid tax.
Spencer’s, the retail arm of the Rs 13,500-crore RPG Enterprises, will be focusing more on large format stores this fiscal and prune down investments per store in order to beat recession blues and turn the company profitable.
The Supreme Court today allowed TVS Motor Co to manufacture ‘Flame’, the 125 cc bike which was caught in a patent row with Bajaj Auto Ltd. But the finished two-wheelers would not leave the company’s warehouse. Both parties were also restrained from using the order for any purpose, including publicity.
Oriental Green Power (OGP), a renewable energy generation company, promoted by Chennai-based Shriram EPC, has said that the company has concluded financial closure to the tune of Rs 400 crore to set up six bio-mass based power plants.
Drug maker Aurobindo Pharma today said its US-based joint venture firm has received approval from the drug regulator for its anti-bacterial veterinary medicine.
Indian fashion designers should call their fraternity The Fight Club. It has been said before in this column that the very inception of the Fashion Design Council of India (FDCI) happened amidst intense internal wrangling. But ever since some designers walked out of the FDCI to set up the Fashion Foundation of India (FFI), the bitterness between the different factions came out in the open for all to see. There are reports that there might be another spilt. There are also rumours that there could be a patch-up between the three fashion bodies (for those who tuned in late, there is also a Fashion Design Promotion Council) sometime in the near future.
Chowdhury Mohan Jatua, the minister of state of information and broadcasting (I&B), has solved many important cases in his career. But the former police officer is yet to learn to put his mobile phone in the silent mode. Recently, I&B Minister Ambika Soni had a press interaction along with Jatua. During the meeting, Jatua’s phone rang at least thrice and every time the meeting was interrupted as his ring-tone screamed the “Mitwa” song of Kabhi Alvida Na Kehna. A peeved Soni was forced to tell Jatua: “Either you attend the calls or find a way to put the phone in the silent mode.”
Reduction in the fringe benefit tax (FBT) from 20 per cent to 5 per cent for media personnel working for both print and electronic media companies was among the demands submitted to the finance ministry today by Ambika Soni, the minister for information and broadcasting (I&B).
Business Standard / New Delhi December 21, 2009, 0:38 IST
OPEC oil producers gathered in poverty-stricken Angola today said they would hold output firm amid comfortably high prices at their first ever meeting hosted by Africa"s new crude-pumping giant.
Andhra Pradesh chief minister K Rosaiah said a meeting of the state Legislative Assembly and Council would specifically be convened to condole the death of former chief minister, Y S Rajasekhara Reddy.
Terming inflation turning positive after a gap of three months as "expected", Finance Minister Pranab Mukherjee today said inflationary pressure would rise further in the days to come.
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
Never let it be said that the Justice Department can’t move quickly when it gets a hot tip about an alleged crime at a Wall Street bank. It does help, though, if the party doing the complaining is the bank itself, and not merely an aggrieved customer.
Foreign companies hunt for buyouts in growing market with lower production costs.
Compensation to squatters would push up land acquisition cost.
Having acquired contiguous land of over 8,000 acres at Jhajjar in Haryana, Reliance Haryana SEZ Ltd (a joint venture between Reliance Ventures Ltd and Haryana State Infrastructure and Industrial Development Corporation, or HSIIDC) is likely to rope in Infrastructure Leasing & Financial Services Ltd (IL&FS) as a consultant and co-partner in the project.
In its efforts to revive ailing public sector units under the steel ministry, the government today decided to hand over management control of three sick units to steel major Rashtriya Ispat Nigam (RINL).
Ishita Ayan Dutt / Kolkata September 11, 2009, 0:52 IST
India-origin billionaire Lakshmi Mittal-led ArcelorMittal today made an offer to buy an additional 29.4 per cent stake in domestic steel firm Uttam Galva Steel at Rs 120 a share.
India’s policies for the software sector and China’s promotion of special economic zones (SEZs) for the manufacturing sector suggest that well-designed and sector-specific government policies can overcome weaknesses in investment climate and allow developing countries to compete globally in new fields, according to a study by the International Finance Corporation (IFC), the private lending arm of the World Bank.
Scam-hit Satyam Computer has entered again the elite club of the top 100 companies in terms of market valuation -- a status it had lost after being hit by the country"s biggest corporate fraud.
Fraud-hit Satyam Computer Services Ltd is planning to cut real estate costs by terminating the lease contracts of four facilities in Hyderabad.
If you can get past the first dozen pages of this book, you’ll probably keep going. In the very first scene, old-school lefty journalist Ian wakes up to BBC Radio’s breakfast news talk show hosted by James Naughtie and John Humphrys — during which Gideon Crawford, the secretary of state for Scotland, will face tough questioning over the government’s approach to the forthcoming elections to the Scottish Parliament, at which the Scottish Nationalists will take on the ruling Labour Party, in power in Westminster after many years and with a sizeable majority, thanks to their young and dashing new PM, Harry White, whose obituary Ian must go to work today and bring up to date, just in case...
Trades between FIIs generated a volume of Rs 57 crore on the BSE Tuesday-an decrease of 13.67% from Rs 67 crore clocked on Monday. As many as six stocks witnessed trades of 5.36 lakh shares on Tuesday.
Dubai World Group has confirmed that its debt restructuring process of $26 billion would apply only to the Dubai World and the Nakheel and Limitless.
T N Ninan / New Delhi September 26, 2009, 0:39 IST
Home minister says the January 5 meeting of political parties is to devise a roadmap on resolving the statehood issue.
Aditya Birla Capital Advisers, the private equity arm of Aditya Birla Financial Services Group, today announced closure of its first fund with the investment commitment of about Rs 675 crore.
Imperial Energy, the Russia- focused oil firm that India"s Oil and Natural Gas Corp (ONGC) acquired recently, is likely to post its maiden cash profits next fiscal as it ramps up output.
India"s exports of agricultural products is likely to cross Rs 1,00,000-crore mark in the next five years and account for five per cent of the world"s agri exports, Agricultural and Processed Food Products Export Development Authority (APEDA) today said.
Global rating agency Moody"s today expressed concern on India"s high fiscal deficit projected at 6.8 per cent for 2009-10 and cautioned that the situation may become complicated in the absence of measures like clear road map for disinvestment and structural reforms.
Devika Banerji / New Delhi December 6, 2009, 0:28 IST
Despite the global economic downturn, medical tourism has emerged as the fastest growing sector of the Indian tourism industry as it provides first world treatment to patients at an affordable rates.
Vemagiri Power Generation Limited (VPGL), a subsidiary of Bangalore-based GMR Energy Limited, is planning to put up an additional capacity of 750 Mw in Vemagiri, adjacent to its existing natural gas-fired combined cycle power plant of 388.5 Mw.
French power equipment maker Areva"s Indian arm, Areva T&D, today said it has bagged an order from aluminium major Hindalco for erecting 440 kilo volt (Kv) substations at its plants in Singrauli (Madhya Pradesh) and Sambalpur (Orissa).
The Orissa government has made it clear that mining of bauxite in the Niyamgiri hills in Kalahandi district will not be allowed till all the statutory clearances are obtained.
Bajaj Auto recorded a near three-fold increase in net profit at Rs 475 crore in the quarter ended December 31, 2009, beating market estimates. India’s second-largest motorcycle maker saw high demand for its vehicles, essentially driven by the high-margin, but low-capacity bikes introduced recently.
The setting is very playful with a fit Mahendra Singh Dhoni asking an even fitter Bipasha Basu out on a date. She agrees, only if he can beat her in a race. The next morning, the two set out to race. Basu creates hurdles for Dhoni by distracting people on the way. Thus, when he finally makes it to the finish line, she’s already waiting for him, but is willing to give him a second chance.
General Motors Co and Ford Motor Co announced sales incentives aimed at luring owners of Toyota Motor Corp vehicles, after the Japanese carmaker expanded recalls to fix accelerator pedals that may stick in some models.
GMR Infrastructure, the Bangalore-based infrastructure firm, has posted a 40 per cent decline in net profit to Rs 53.6 crore for the second quarter ended September 30, 2009 as compared to corresponding quarter of last fiscal.
Wipro Limited, backed by increases in price realisation, utilisation and fixed price contracts at its flagship IT services business, posted a 19 per cent increase in its net profit to Rs 1,162 crore for the second quarter ended September 30, 2009 as compared to the corresponding quarter of the previous financial year.
Auto component maker Sona Koyo Steering Systems reported an unaudited profit after tax (PAT) of Rs 3.71 crore for the quarter ended September 30.
Reliance Communications today said it has bagged contracts to develop telecom infrastructure in Kerala, Mumbai and Maharashtra circles.
The Sensex after moving in the negative terrain for quite some time has rebounded into the green on the back of buying in the IT shares. The Sensex is now at 16,898, up 21 points.
Likely to kickstart its hybrid plans for India by a preview at Auto Expo 2010
Foreign institutional investors (FIIs) were net sellers of Rs 2,813.06 crore (provisional) today, according to data released by BSE.
The country paid over 7 per cent higher amount in repaying its external debt at $7.67 billion during the first six months of this fiscal over the year-ago period, despite a soft interest rate regime globally.
Improved passenger numbers in the last three months helped low-cost carrier SpiceJet post a profit of Rs 108.9 crore in the third quarter ending December 31, 2009. The airline had incurred losses of Rs 17.96 crore during the same period last year.
Orchid Chemicals & Pharmaceuticals reported a net loss of Rs 13.20 crore for the quarter ending on September 30, 2009 as compared to Rs 40.66 crore loss last year.
State-owned IDBI Bank is believed to have zeroed in on Kerala-based private sector lender Federal Bank for acquisition.
India has emerged as the second most targeted nation among the BRIC region, after China, for merger and acquisitions activities clocking deals worth $2.8 billion so far this year.
The country"s largest power producer NTPC has asked the government for abolition of import duty on coal, which currently stands at 8 per cent.
Karnataka Chief Minister B S Yeddyurappa is not likely to initiate any legal action against former Prime Minister H D Deve Gowda for using unparliamentary language against him but the state unit of BJP has threatened to file a suit against the JD(S) Chief.
The government today allowed prospective 3G bidders to raise funds from domestic markets, which could later be refinanced through debts raised abroad, giving a major boost for 3G spectrum auction.
After a brief lull, mobile operators have begun clashing over the fee paid for spectrum (air-waves), with Vodafone claiming Tata Teleservices and RCom were underpaying the government — a charge denied by the two companies.
Mansi Taneja / New Delhi January 15, 2010, 0:05 IST
The Department of Telecom (DoT) has opposed general security clearance to few major equipment vendors like Ericsson, Nokia-Siemens, Motorola and Huawei and has sought Home Ministry"s view on the issue, a move that could delay execution of expansion plans of telcos.
L&T Infotech, the software solutions providing company of Larsen & Toubro, announced today that it has bagged the e-governance implementation project of the All India Council for Technical Education (AICTE).
Karur Vysya Bank has reported a net profit of Rs 75.87 crore for the quarter ended December 2009, registering an increase of 28 per cent over the corresponding period previous year. The bank had reported a net profit of Rs 59.25 crore in the same period last year, Karur Vysya Bank said in a filing to the Bombay Stock Exchange.
President of Karnataka Pranta Raitha Sangha Maruti Manapade has threatened that the farmers would launch serious agitation against the state government which is “contemplating acquisition of 200,000 acres of fertile land across the state to set up special economic zones (SEZ)”. He told reporters here he has urged the state government to stop the process immediately.
Chief minister B S Yeddyurappa will lead an all-party delegation to meet Prime Minister Manmohan Singh on January 13 seeking his intervention to withdraw the revocation order on the Kalasa-Bandori Nala drinking water project.
You have to rub your eyes hard to believe the Tata Prima and Mahindra Navistar trucks can rival the best that Mercedes-Benz, Volvo and Scania have to offer. Their stylish cabs, with the multitude of buttons and gizmos and quality fittings, make you feel you are in a European truck. But then again, both have been developed by Indian manufacturers to rival the best the world has to offer and beat these in markets outside India as well.
India will on Sunday hold a meeting with its BASIC group partners comprising China, Brazil and South Africa in the capital to firm up a common position on the climate front post-Copenhagen.
India and Canada will soon finalise the civilian nuclear cooperation agreement that will pave the way for new opportunities for both the countries, a senior Indian diplomat has said.
Shilpy Sinha / Mumbai January 8, 2010, 0:47 IST
Shobhana Subramanian / Mumbai December 15, 2009, 0:08 IST
Broadcasters are increasingly opting for non-exclusive rights of films this year.
The ongoing attacks on Indian students studying in Australia have received a strong reaction from the Indian film fraternity.
Notwithstanding the high voltage overseas road shows and Incredible India campaign, the decline in foreign tourist arrivals in the country continues.
The government today said it does not intend to increase borrowing target for the current fiscal 2009-10, which has been pegged at Rs 4.51 lakh crore.
LG Electronics, the global manufacturer and marketer of consumer electronics and home appliances, today opened one brand showroom ‘LG Shoppe’ at Samantarapur in Bhubaneswar. Arvind Kumar, the branch head of Orissa, inaugurated the premium brand showroom.
South Korean consumer durables major LG today said it plans to give a push to its LED TV sales by launching more advanced versions of it in 2010 and expects to sell up to 3 lakh units by the end of next year.
The move will encourage setting up of diamond bourses.
The Ashok Leyland stock continues to trade at a fairly high multiple of 25 times estimated 2009-10 earnings and 15.5 times 2010-11 earnings. The Street is pencilling in a recovery in the commercial vehicles (CV) cycle but almost all of that appears to be in the price.
Having placed nearly 70 per cent of their students in just over a month, the IITs are hopeful of wrapping up the placements season much before March
The Andhra Pradesh government has awarded the State Wide Area Network (Swan) project to Tata Consultancy Services (TCS), the country"s largest information technology company, on a five-year build, own, operate and transfer (Boot) model.
World Bank President Robert Zoellick today said India is likely to return to high growth of 8 to 9 per cent in a year or two, helped by strong fiscal and monetary actions to counter the global financial crisis.
The country"s largest carmaker, Maruti Suzuki India today said it is considering increasing the production capacity at its Manesar facility, and a decision on this is likely in a day or two.
Celebrity restaurateur Bill Marchetti is settling down after a wildly experimental life, discovers Kishore Singh
Karun Chandhok can kiss his Force India ambitions good-bye, at least for the time being, after chairman of the resurgent outfit Vijay Mallya said he doesn"t consider any Indian driver good denough for Formula One.
With Formula One Supremo Bernie Ecclestone giving a categorical assurance that the Indian Grand Prix is very much on, Force India Chairman Vijay Mallya today said the 2011 race would be a huge boost both for motorsports and the outfit he owns.
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
State-run steel maker SAIL today said it may cut prices of some of its products in near future.
High prices along with floods and poor monsoon led to the fall
Tata Communications, a leading provider of a new world of communications, announced that India-based NDTV Convergence has chosen its LiveBroadcast service, a high-quality, flash-based streaming service, to broadcast three national channels in India — two news and one business — over the internet to a global audience.
Business Standard / New Delhi December 18, 2009, 0:21 IST
India would set up five energy parks by 2032 to raise the generation of nuclear energy.
Kolkata-based United Bank of India (UBI) has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offer (IPO). The issue size will be Rs 50 crore. The bank had appointed SBI Capital Markets (lead merchant banker), Enam Securities and Edelweiss Capital as merchant bankers for the issue, T M Bhasin, executive director, UBI, said.
A local court today extended the judicial remand of all the ten accused in Satyam fraud till January 6 and handed them over documents related to the supplementary chargesheet filed against them by the CBI.
A two-member CBI team will soon leave for Britain to follow the trail of about Rs 120 crore allegedly received by an Indian entity from a Russian firm to secure an equipment supply order from the state-owned power major NTPC.
When reporters asked former Railway Minister Lalu Prasad for a reaction on why his successor Mamata Banerjee was trying to mock his work by bringing out her White Paper, he asked, “Do you know any tantric? I need to consult one.” As the reporters wondered why the RJD chief needed a tantric, Prasad added, “I think there is something wrong with the time of my birth. Earlier, I faced this fodder scam and now people are after me for unnecessary reasons.
Riding on the back of rising auto sales last month, the non-life insurance industry has recorded a marginal rise in premium collection.
Business Sandard / New Delhi October 29, 2009, 0:50 IST
The country"s exports in December have grown to $14.6 billion, up 9.4 per cent over November, on the back of a strong growth in pharma, engineering and auto components sectors, Commerce and Industry minister, Anand Sharma said today.
Fear of rising inflation dragged the Sensex into the red at the beginning of the trading day. However, Reserve Bank of India governor D Subbarao"s positive comments perked investor sentiments in noon trades.
Nearly a decade and a half ago, a leading south-India based group with four sugar factories resigned the membership of Indian Sugar Mills Association (ISMA) leaving the industry then guessing about the compulsion of the move. What, however, was of some comfort for ISMA was that the group gave a commitment that it would neither work at cross purposes with the association nor would it ever say anything critical about it.
India exports 100 million tonnes of iron ore to China.
Indian companies have raised about $ 2.6 billion from the international market through external commercial borrowings and foreign currency convertible bonds (FCCBs) in October to fund overseas acquisitions and import capital goods and modernisation and lending.
RBI wonders if banks are doing enough to push the service.
Maharashtra Electrosmelt (MEL), a SAIL subsidiary, will invest Rs 200 crore to set up a furnace with capacity of 42,000 tonnes per annum at its Chandrapur plant.
The financial supervisors in Asia have tightened the norms to make provisions for non-performing loans after the crisis hit many countries in late 1990s. But the provisioning stance still remained reactive to shifts in the business cycle, according to a Bank of International Settlements (BIS) study.
Top BJP leaders skip JMM chief’s oath-taking ceremony.
Promoters aim to hike stake; Dalmia’s stake over 25%
Delhi-based businessman Sanjay Dalmia and Indiabulls Financial Services (IFS) have arrived at an out-of-the-court settlement to their legal dispute, the Bombay High Court was informed today.
The Bombay High Court today asked the Economic Offences Wing (EOW) not to arrest Delhi-based businessman Sanjay Dalmia after senior counsel Ram Jethmalani said that he was trying to negotiate an out-of-court settlement with Indiabulls Financial Services (IFS).
The new five-party coalition in Jharkhand which is all set to assume power tomorrow has 31 MLAs with criminal cases against them.
Essar Oil is on track to complete expansion of its facility at Vadinar refinery in Gujarat to 16 million tonnes by December 2010, brokerage firm IDFC-SSKI said in its report on the firm while putting a price target of Rs 194 on its stock.
Essar Oil Ltd (EOL) is on track to complete expansion of its facility at Vadinar refinery in Gujarat to 16 million tonnes by December 2010, brokerage company IDFC-SSKI said in its report on the company while putting a price target of Rs 194 on its stock.
Citibank today launched CitiHome One, a first-of-its-kind universal mortgage product, that would enable customers to get a home-loan as a combination of a conventional term-loan and credit line.
With inflation on the rise and projected to rise further, the real return on your fixed deposits could soon turn negative.
Steel Authority of India Ltd (SAIL), the nation’s biggest state-run producer, said it was considering buying coking coal mines in Australia, Indonesia and Mozambique with an Indian government joint venture.
Kishore Biyani-led Future Group is planning entry into hotel business and may set up the first one in the next six months.
T N Ninan / New Delhi December 5, 2009, 1:54 IST
T N Ninan / New Delhi November 14, 2009, 1:01 IST
Bank of New York Mellon Corp"s Chief Executive Robert Kelly has emerged as the front-runner for the top job at Bank of America (BofA), but compensation issues are making a hurdle to the deal, says a media report.
The stock soared to a high of Rs 136 and finally ended at Rs 134, up 4% from its previous close. The counter clocked volumes of 1.75 million shares as compared to the two-week daily average traded volumes of 466,405 shares on the BSE. ______________________________________________________
Bangalore-based medical diagnostics products maker, Opto Circuits (India) Ltd (OCI) has announced that its wholly-owned US-based
The country emerges as a bigger player on the global scene
Around 67 per cent of these funds have beaten debt funds and gold over 10 years
Stock markets were propelled by robust industrial growth data, the government’s reform initiatives and strong global markets. The Sensex ended the week higher by 690.55 points, or 4.27 per cent, at 16,848.83, while the Nifty closed at 4,998.95, up 202.80 points, or 4.23 per cent.
Asian markets ended flat at the end of a lacklustre day.
After a massive 387 points fall on the Sensex yesterday. The index today opened on a weak note at 16,699 owing to negative cues from the global markets. The index then started slipping further into the red and is now at 16,229, down 123 points.
The Forward Markets Commission (FMC), the commodity markets regulator, says it is willing to discuss the issue of extending trading hours, in line with what the equity markets regulator, the Securities and Exchange Board of India (Sebi), did last week. Sebi has allowed trade timing in equities to be extended, from 9 am to 5 pm; the current hours are 9:55 am to 3:30 pm.
Insiders who have been chosen as chief executive officers (CEOs) of companies, like Mukesh Ambani of Reliance Industries and Steve Jobs of Apple, have fared better than those who have been brought in from outside, says a survey.
Government today filed its affidavit in the Supreme Court on the ongoing gas row between the Ambani brothers saying that the arrangement for public sector NTPC cannot be equated with any agreement between RIL and RNRL.
The Sensex has come off from the day"s high and is now at 17,203, up 71 points. The NSE Nifty is at 5,106, up 15 points.
Having faced delays in land acquisition for several projects, Tata Steel would have to sharpen its skills in dealing with people issues, said Managing Director H M Nerurkar.
And, India chose to break ranks consistently to be with its new friends.
- GEECL completes laying gas pipeline from Asansole to Durgapur - Petro board to identify 300 cities for gas networks - ONGC Videsh to join Chinese gas pipeline from Myanmar - GAIL to raise Rs 2,000 cr for expansion - Delhi HC rejects Man"s plea challenging GAIL"s re-tending - GAIL to invest Rs 7,500 cr in Dabhol, Kochi pipelines
India is now the new battleground for two of UK’s ultra luxury car makers.
More law firms slap class action suits against Caraco.
Sun Pharmaceutical Industries’ US subsidiary Caraco Pharmaceutical is facing more trouble in the US. A law firm, Izard Nobel LLP, has initiated a lawsuit seeking class action status against the company in the United States District Court for the Eastern District of Michigan on behalf of its investors.
- Bhupesh Bhandari: The basket case of Uttar Pradesh">Bhupesh Bhandari: The basket case of Uttar Pradesh - Bhupesh Bhandari: Headhunters feel hunted">Bhupesh Bhandari: Headhunters feel hunted - Bhupesh Bhandari: Are celebrities worth their price?">Bhupesh Bhandari: Are celebrities worth their price? - DCGI to issue CoPP & WHO certificates for export from October - Bhupesh Bhandari: Royal challenge">Bhupesh Bhandari: Royal challenge - Bhupesh Bhandari: Brand them into the dust">Bhupesh Bhandari: Brand them into the dust
Rolls-Royce thinks India will be a good market for its new luxury car, the Ghost
Investor wealth has increased by over Rs 25 lakh crore in just over five months from the beginning of the current financial year, on improving sentiments in the domestic and global markets.
As many as eight out of the top 10 most valued companies added over Rs 23,000 crore to their market capitalisation in the last week.
The Rural Development Department of Andhra Pradesh government and Infosys BPO Limited today signed a Memorandum Of Understanding(MoU) for setting up rural BPO centres in 22 districts across the state.
Oil fell in Asian trade today on profit-taking after overnight gains driven by hopes for improved demand as the global economy recovers, analysts said.
Country"s eight of the top-10 firms together added over Rs 53,000 crore to their market capitalisation last week, while two state-run firms NTPC and NMDC-- saw an erosion in their valuation.
Animation and gaming firm DQE India is planning to hit the capital market initial public offer to raise Rs 150 crore to part finance its expansion plans.
The Prime Minister’s Office (PMO) has asked for comments from the petroleum ministry on Anil Ambani’s letter, wherein he accused the ministry of siding with estranged brother Mukesh Ambani’s Reliance Industries Ltd (RIL) in an ongoing gas dispute.
Sunanda K Datta-Ray / New Delhi October 10, 2009, 0:34 IST
After getting the power to requisition any aircraft during emergencies, the NSG has got the approval of the Indian Air Force (IAF) to use its planes to transport commandos for anti-terror duties.
The market turned weak on the cusp of settlement and made a partial recovery in the first session of the December settlement. The Nifty ended with a net week-on-week loss of 2.2 per cent, closing at 4,941.75 points while the Sensex was down 2.3 per cent at 16,632 points. The Defty lost 2.5 percent with the rupee losing ground.
The scrip zoomed to a high of Rs 94 and finally ended at Rs 93, up 2.5% from the previous close. The counter clocked volumes of 30.16 million shares on the BSE as compared to the two-week daily average traded volume of 14.87 million shares .
The tremors from the Dubai World crisis are unlikely to be felt by Indian information technology (IT) service providers, since they do not have a major exposure to the market in that region.
On January 7, Ramalinga Raju confessed to his monumental fraud. He had, Raju said in a letter to the stock exchanges, cooked Satyam’s books for seven long years — revenue, profit, bank balance et al. Raju was soon arrested and put in the Chanchalguda prison. The Union government swung into action. A board was appointed to manage the affairs of the company. In a matter of months, Satyam was sold to Tech Mahindra.