Corporate
The stock slipped to a low of Rs 429 and finally ended down 1.5% at Rs 434. The counter witnessed trades of 272,562 shares on the BSE today.
Bank of Baroda has set a target to sanction Rs 3,095 crore to small and medium enterprises (SMEs) in Gujarat by March 2010 through its six SME loan factories.
Tata Steel today said it has deposited Rs 25 crore for reviving ailing cable manufacturer, Incab, following directions from the Board for Industrial and Financial Reconstruction (BIFR). The company is learnt to have submitted a Rs 100-crore revival plan for the cable manufacturer, awaiting clearance from BIFR, two persons close to the development had said.
State-owned Central Bank of India is planning to restructure its home finance as well as financial and custodial services arms.
The decline is Rs 21,186 crore from the fortnight ended July 3
Public sector Syndicate Bank today reported a 32 per cent drop in net profit to Rs 177.8 crore for the second quarter ended September 30 as compared with the corresponding quarter of last year. Its operating profit for the second quarter declined 5.2 per cent to Rs 443.3 crore compared to the year-ago period.
IDBI Bank today announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009.
JSW Energy, a part of Jindal South West (JSW) group headed by Sajjan Jindal, has received SEBI (Securities & Exchange Board of India) nod for IPO (initial public offering).
Many index funds charge less than equity-diversified funds. Select a fund that has a low tracking error.
More CCTV surveillance and tighter security norms are likely to prevail in nuclear installations across India after “an act of mischief” in the Kaiga nuclear plant in Karnataka, almost 500 km from Bangalore, left 50 scientists exposed to radiation.
Hang Seng is quoting at 21,624, stronger by 325 points or 1.5% and Nikkei is placed at 10,085, higher by 68 points or 0.6%. Straits Times is at 2,685, up 4 points or 0.1%.
The latest calendar from the rural development ministry has a picture of the minister and two ministers of state. The third minister of state was upset enough to call up the minister, CP Joshi, to protest. The minister has now ordered that the calendars not be circulated — a fresh calendar will soon be sent around.
Sri Lanka’s former top general Sarath Fonseka, who quit following a spat with President Mahinda Rajapaksa, today announced that he will be the joint candidate of opposition parties in the Presidential polls slated for January 26 next year.
Reliance Communications (RCom) today introduced 1 paise per SMS plan taking the tariff war to the data front from voice calls.
Bank employees owing allegiance to four Left-leaning unions today went on a strike protesting the proposed merger of the State Bank of Indore with parent SBI, disrupting normal banking operations in the country, a top union official said.
Hospital chain Fortis Healthcare"s Rs 1,000-crore rights issue is likely to hit the market by October, with the firm taking fresh steps to realise the plan.
DLF Pramerica Life Insurance is expecting new business of about Rs 90 crore in 2010, three times the business generated in the first year of operations.
After opening weak, the Asian markets have rebounded into the green. The Hang Seng is now up 19 points at 21,9212. The Nikkei is trading flat at 10,105.
Upscale hotels to see occupancy rates of 40 per cent, mid-scale 25-30 per cent.
Sixth such switch between rival fronts in a decade
Ranju Sarkar / December 4, 2009, 0:36 IST
With an aim to rope in a strategic partner for its Haryana SEZ project, corporate giant Reliance Industries is believed to be in talks with IL&FS and a couple of other players for part-sale of its stake.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
The markets have resumed their upmove after retreating on Monday. The Sensex has again crossed the 17k mark to 17,045, higher by 62 points, and the Nifty is at 5,090, up 23 points. Metals, energy and realty stocks are in the limelight.
The US markets ended on a mixed note. Dow Jones closed at 10,390, higher by one point, Nasdaq ended at 2,189, lower by four points and the S&P shed two points or 0.25% at 1,103.25.
Former Haryana DGP SPS Rathore, against whom fresh cases involving serious charges have been registered, was today granted interim bail till January 7 by a local sessions court hearing the Ruchika molestation case.
Kerala Tourism has launched an online training programme to help travel agents and tour operators in the UK get acquainted with the state’s tourism products and in turn increase UK sales to Kerala.
For promoting a planned and healthy real estate development of colonies and apartments in big cities, Union Housing and Urban Poverty Alleviation Ministry has drafted a bill and invited suggestions from experts.
Fixed Maturity Plans (FMPs) seem to be generating some amount of interest among mutual fund investors once again. These plans were the target of investors’ ire during the later part of 2008.
China had recently objected to Asian Development Bank"s (ADB) funding an irrigation project in Arunachal Pradesh which is a "clear violation" of the charter of the multilateral lending agency, the government informed the Rajya Sabha today.
The Centre plans to allow the (for-profit) private sector to set up educational institutions and tap the capital market, thus aiming to plug the funding gap in the education sector. In this regard, the Human Resource Development (HRD) ministry has asked Max India Chairman Analjit Singh to prepare a feasibility paper.
The stock slipped to a low of Rs 56 and finally ended at Rs 56, down 1.5% from the previous close. The counter clocked volumes of 3.98 million shares on the BSE.
Kingfisher Airlines Ltd, the Indian carrier owned by the nation’s largest brewer, may raise as much as $175 million selling shares and global depository receipts to repay debt.
Poor performance from Whyte and Mackay and adverse foreign exchange movements pulled down United Spirits’ consolidated numbers for 2008-09. The liquor firm reported a loss of Rs 410 crore.
Liquor manufacturer Radico Khaitan today said it will seek shareholders approval for raising Rs 375 crore by share sale from domestic and international markets.
Foreign airlines can now use larger aircraft and operate additional flights to India during the peak tourist season under the fresh guidelines issued by the government.
The stock extended gains and touched a high of Rs 107 - up 5%. It finally ended flat at Rs 102. The stock is down 16% from its 52 week high of Rs 122, but has surged 240% from its 52-week low of Rs 30.
Air India pilots, protesting management"s moves to cut their salaries and allowances, today deferred their strike threat from November 24 by six days, even as the conciliation talks remained inconclusive.
BA: British Airways has become one of those companies that is trapped in an endless restructuring. Over the years, the UK airline has undergone successive rounds of cost cuts. The need for yet more is as urgent ever. Sales fell 14 per cent in the first half of BA’s financial year, but costs were not removed fast enough to avert a record pre-tax loss of £292 million. And that was in the normally buoyant summer months.
Kolkata-based Jai Balaji Industries has raised Rs 198.50 crore through a qualified institutional placement (QIP) issue.
After increasing it four times in a row, the state-run oil firms today cut jet fuel prices by 5.7 per cent on easing international rates.
The crowd of 600 falls silent as an employee asks Chief Executive Officer Carlos Ghosn if he’s staking too much of Nissan Motor Co’s future on electric cars and not enough on green alternatives like Toyota Motor Corp’s Prius gas-electric hybrid.
Come 2010 and the small-car market is likely to witness intense competition with at least four new players set to launch their products in the market.
Asian stocks rose, lifting the MSCI Asia Pacific Index to a two-week high, on speculation the Bank of Japan would enact measures to limit the yen’s gains, and as Chinese manufacturing grew at the fastest pace in five years.
Wipro today inked a new partnership with Symantec Corporation to provide data back up and loss prevention, in addition to recovery infrastructure consultancy services.
Eicher Motors Group company Royal Enfield today launched two bikes, Classic 350 and Classic 500, priced at Rs 98,086 and Rs 1.25 lakh (ex-showroom Delhi) respectively.
Heavy-weight motorbike maker Royal Enfield today said it will launch two models by early next year and plans to expand its overall production capacity by over 35 per cent by 2010.
Dampening the Christmas mood, leading steel maker Tata Steel has jacked up prices by Rs 2000 a tonne, while the state-run Steel Authority of India (SAIL) has discontinued the discounts with immediate effect, on the back of rising demand.
The issues of land acquisition and ways to remove problems faced by foreign and domestic investors, especially at the implementation stage, are likely to come up at a meeting the Centre will hold with state industry ministers here tomorrow.
Prime Minister Manmohan Singh has conveyed to the United States, India"s concern over misuse of its military and other kind of aid by Pakistan.
The area under wheat rose a marginal 2 per cent this year on favourable climatic conditions. Late monsoon left adequate moisture content in the soil that suited the wheat sowing for this rabi season.
Auto sales numbers for almost all companies in October 2009, are in. With growth ranging between 15-60 % and teamed with impressive quarterly top line and bottom-line growth, the sector is a poster-child for the domestic growth potential.
British Prime Minister Gordon Brown has promised to talk to Tata Group Chairman Ratan Tata, as a final effort to stop the Corus steel plants in Teesside from being shut at the month-end, thus saving 1,700 jobs.
The multi-million dollar production contract for the Commonwealth Games (CWG) 2010 may be decided between two entities — consortium of Nimbus Communications and Canadian Broadcasting Corporation, and Satellite Information Service Live of United Kingdom — as only these two entities are said to have submitted the bids today, highly places sources said.
With an average internet connection speed of 1,100 Kbps for the second quarter of 2009, Karnataka has been ranked second in a study of the top 10 Indian states for their average connection speeds. The state has recorded a 32 per cent increase in the average connection speed over last year.
Indian business spreads its footprint across the globe.
A third strike in nine months loomed large over Hyundai Motor India (HMIL) today with a section of workers saying they will go ahead with a tools-down agitation if the management or the state labour department do not act positively on their demands.
A third strike in nine months loomed large over Hyundai Motor India (HMIL) with a section of workers today saying that they will go ahead with a tools-down agitation if the management or the state labour department do not act positively on their demands.
Maruti Suzuki is the latest auto major in the country preparing for trading in carbon credits.
World"s largest car maker Toyota today said it is looking to expand its dealership network in the country with plans to have a total of 150 outlets by 2010.
The country"s second-largest car maker Hyundai Motor India today said it would invest $40 million for setting up an R&D centre in India next year.
The Insurance Regulatory and Development Authority (Irda) has asked insurance companies to be more cautious while concluding contracts with “high risk customers”, particularly the “proposals of Politically Exposed Persons (PEPs)”.
Brussels is gearing up for an Indian summer, but this has less to do with the weather than India Inc, which is all set to strut its stuff in the heart of the European Union. The largest India-related business summit ever to be held in the city will see top CEOs and political heavyweights join hands to send a clear message to Europe, of engagement and interest.
Adidas, which launched its premium lifestyle product – Originals — in India two years ago, is still in the process of educating customers about the different story that the collections, represented by the Trefoil logo, has to tell vis-à-vis its regular "performance’ brands. Timo Pape, adidas’ Director Sport Style, Asia Pacific, spoke to Suvi Dogra about the German sports wear company’s strategy to increase the share of Originals to one-fifth of its business in India. Excerpts:
Reserve Bank of India Deputy Governor K C Chakrabarty said today the weak southwest monsoon could put upward pressure on inflation.
The government has decided to cut the minimum export price (MEP) for basmati, Finance Secretary Ashok Chawla said today.
Buoyed by healthy growth in the first quarter, public sector Corporation Bank today said it expects its total business to cross Rs 1,50,000-crore mark during the current fiscal.
Consumer electronics major Philips Electronics India has decided to float an buyback offer of Rs 242 per share, to enable minority shareholders make an exit.
Despite the economic recovery, the government"s direct tax collections increased by a marginal 3.7 per cent to Rs 1.83 lakh in the first eight months of this fiscal compared to the same period a year ago.
The Sensex has slipped once again into the red and is now down 70 points at 16,780. The Nifty is down 33 points at 4,971.
The stock jumped 4.24 per cent to Rs 227.65 to an all-time high, after the company acquired Vale Do Ivai SA (VDI), a Brazil-based sugar and ethanol firm. The acquisition includes two sugar and ethanol production facilities with a combined cane crushing capacity of 3.1 million tonnes per annum.
Industry says fiscal stimulus must continue
In an apparent climbdown, the Supreme Court today agreed before the Delhi High Court to reveal information under Right to Information (RTI) Act pertaining to action taken by Chief Justice of India on a complaint against an Allahabad High Court judge.
GTL today reported a 31 per cent growth in net profit at Rs 50.22 crore for the quarter ended September 30, 2009. In the year-ago period, the company had a consolidated net profit of Rs 38.30 crore, GTL said in a filing to the BSE.
Sugar major Bajaj Hindusthan today said it has fully utilised Rs 710 crore raised by private placement of shares for repayment of its debt in accordance with the terms of the issue.
Siemens closed at Rs 571, down by 2.5% or Rs 14 on the BSE. The stock opened at Rs 590 and touched a high of Rs 605 and a low of Rs 565 during the day. A total of 272,659 shares were traded on the BSE as against the 2-week average of 109,271 shares.
Tata Power today announced the completion of allotment of $300 million Foreign Currency Convertible Bonds (FCCBs) on November 20.
Balrampur Chini Mills, one of the leading sugar producers of the country, has posted a rise of 193 per cent in its net profit at Rs 42.73 crore for the quarter ended September compared with Rs 14.58 crore in the corresponding quarter last year. The company"s net sales during the quarter, however, decreased around 8 per cent to Rs 378.9 crore from Rs 411.72 crore.
The world"s largest retailer, Wal-Mart Stores Inc, today reported a 3.2 per cent rise in profit at $3.25 billion for the quarter ended October this year, with rise in productivity and improved inventory management supporting its profitability.
The Supreme Court today rejected Uttar Pradesh Chief Minister Mayawati"s plea for quashing a PIL filed against her in the Taj corridor scandal which had involved construction of a massive shopping mall and recreational centres near the world famous monument.
Maytas Infra Ltd (MIL) has announced that it has bagged the Rs 790-crore Pune-Solapur road contract from IL&FS Transportation Networks Ltd (ITNL). The project is to be completed in 20 months.
Expectations are on the rise that the second term of chief minister YS Rajasekhara Reddy would give a boost to the manufacturing sector with the state bagging four major projects, including two manufacturing units, involving an investment of Rs 8,750 crore in the past fortnight.
Maharashtra is set to get a new government tomorrow as Chief Minister Ashok Chavan and his Deputy Chhagan Bhujbal are expected to take oath of office.
Shree Renuka Sugars has applied to the NCDEX for surrendering its trading membership, which will pave the way for the country"s leading sugar refiner to buy 5 per cent stake in the exchange.
Sreelatha Menon / New Delhi October 27, 2009, 0:11 IST
Driving consumption among middle and lower income consumers, collaboration between retailers and suppliers, understanding consumers is the mantra to grow modern retail in the coming days as the sector comes out of slowdown blues, say fast moving consumer companies (FMCG) and organised retail chains.
Private carrier Jet Airways" plan to raise funds from international institutional investors will come up for approval by the Foreign Investment Promotion Board this week.
Public sector Indian Overseas Bank today said it will raise an amount totalling to Rs 800 crore by issue of bonds on private placement basis.
The banking stocks continue to rule high on the back of stimulus measures by the Reserve Bank of India that helped revival of economic growth and attraction of foreign funds. Key economic data like the recent Index of Industrial Production (IIP) indicated likely swift recovery of the economy. Factory output at 10.4% in August registered the highest growth rate in 22 months.
Crisis in Karnataka BJP continued today with dissidents persisting with their demand for the removal of Chief Minister B S Yuddyurappa, who said that the party leadership is evolving a "new formula" to end the stalemate.
How do fund houses charge the various taxes like dividend distribution tax, capital gains tax and securities transaction tax that a mutual fund is subject to? Are these deducted from the returns the fund generates?
I had invested Rs 25,000 each in HDFC Top 200, HSBC Equity, Reliance Growth and Magnum Taxgain in April 2009. At the time of investment, all these funds were 5-star rated, but now I notice their ratings have come down to 4-star. Have I chosen the correct funds? And, should I remain invested or withdraw? Also, please guide me where I should invest Rs 2-3 lakh for a period of around three years.
The government has asked the Serious Fraud Investigation Office (SFIO) to discontinue its enquiry into the siphoning of funds by Satyam Computer to avoid duplication of work as the CBI is trailing the funds parked abroad by the IT company.
Sequoia Capital India today announced that it has invested Rs 40 crore in Just Dial, a local search engine.
ICICI Prudential AMC has emerged as the top earner by providing a return of 8.73 per cent on the EPFO funds, invested by the private fund house during the nine months period ended June 30.
The first series of monthly wholesale price index (WPI) data showed that headline inflation rose marginally to 1.34 per cent in October, primarily due to a year-on-year increase in fuel prices. The inflation rate was 0.5 per cent in September and 11.06 per cent in October 2008.
Bimal Jalan / New Delhi July 26, 2009, 0:03 IST
Surjit S Bhalla / New Delhi December 26, 2009, 0:41 IST
Business Standard / New Delhi December 22, 2009, 0:28 IST
Pricol has reported a net profit of Rs 6.29 crore for the quarter ended September 30, 2009 as compared to net loss of Rs 8.10 crore, a year ago.
Over 3000 Indian Institute of Technology (IIT) alumni from across the world will gather near here to participate in a global conference on technology and innovation that would be attended by President Barack Obama"s Chief Technology Officer Aneesh Chopra.
Salaried employees may burn a hole in their pockets with the government all set to impose tax on all perks --residential accommodation, conveyance and others -- paid for by the company, under a new law that replaces the already abolished Fringe Benefit Tax (FBT).
Market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares in the year 2000.
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
Bank ROEs: What is an acceptable return on equity (ROE) for a bank? That question is likely to dominate the debate among executives, investors and regulators in the coming year. After the spectacular losses of the crash, there is no doubt that banks’ future returns should be lower than the super-charged profits earned during the credit boom. But if ROEs fall too far, the consequences could be severe.
Shree Renuka Sugars ended at Rs 229, up by Rs 7 or 3.3%, on the BSE. Over 4.07 lakh shares have changed hands at the counter. The stock hit a high of Rs 230 and a low of Rs 223 during the day.
In a bid to attract more Indian students to the US, ten universities from the US have collaborated with IDP Education, a student placement service provider.
Oil & Natural Gas Corporation (ONGC), India’s biggest energy explorer, plans to raise $1 billion (Rs 4,669 crore) in a month to refinance debt its unit incurred in the purchase of UK-based Imperial Energy Plc amid low interest rates.
The yen"s sharp rise is harmful to Japan"s export-led economy, the finance minister said today as the greenback traded around 85 yen, its lowest level since the mid-1990s.
The Committee for Determination of Terms of Reference (CDToF) under the Central Environment and Forest Department has turned down the application of Bhoruka Power Corporation Ltd (BPCL) to set up a thermal power plant at Halga village beside Hanakon in Karwar taluk in Uttara Kannada district.
Steel czar Lakshmi N Mittal today said initial installations at the Bhatinda oil refinery is likely to come up in the first half of 2011 and the project is not facing any major hurdles.
The rupee today depreciated by 16 paise to 45.50 a dollar in early trade as the US currency strengthened against major world currencies.
Indian Olympic Association chief Suresh Kalmadi was today re-elected unopposed as the president of Asian Athletic Association (AAA) in Guangzhou, China, to serve his third consecutive term at the office.
Public sector oil major Indian Oil Corporation (IOC) will double its spend on research and development (R&D) to Rs 200 crore from the next financial year to help the company explore new opportunities and technologies.
Riding on lower crude oil prices and a reduced under-recovery, Indian Oil Corporation (IOC), the country’s largest oil marketing company, has reported a net profit of Rs 284 crore for the quarter ended September 30, compared to a loss of Rs 7,047 crore in the corresponding quarter last year. Net sales, however, declined 18.7 per cent to Rs 60,392 crore on account of lower prices of petroleum products.
Two senior officials of AES Corporation are likely to visit Orissa on 17 November to hold discussion with the government officials pertaining to the proposed expansion of the unit-3 & 4 (660Mw x 2) of the IB Thermal Power Station of the Orissa Power Generation Corporation (OPGC).
The Nifty closed below its support zone of 4,400-4,500 on weak global cues and profit-booking. Worries about the pace of the global economic recovery and poor monsoon added to the gloom. Metals, realty and oil & gas stocks led the sell-off. By the close of the Indian trading session, European markets were down over 2 per cent. The 158 declines in Dow futures indicated a weak opening.
Candidate may not need two-year residual service.
After a below par performance in the last two weeks, analysts are predicting another month of volatility for the Indian bourses, despite their firm belief in its long-term potential.
How Wills Lifestyle hopes to stand out in the crowded readymade apparel market.
Sidhartha / Mumbai December 25, 2009, 0:43 IST
In a significant development, Qatar today agreed to look into India"s demand for an additional 5 million tonnes a year of liquefied natural gas (LNG) to meet its growing energy needs.
Finance Minister Pranab Mukherjee attributed the 4.78 per cent spurt in inflation in November to rising prices of food articles.
Inflation more than trebled to 4.78 per cent during November on account of rising prices of food items like potato, sugar and pulses, and may prompt the Reserve Bank to squeeze money supply to tame price rise.
Sunil Jain / New Delhi October 30, 2009, 0:38 IST
Imagine walking into a washroom at one of the multiplexes and being welcomed with a message that terms you “the Fourth Idiot”. Don’t feel offended as you are just watching the promotion of 3Idiots, an Aamir Kan-starrer to be released this Friday.
China today started operation on its fastest rail link in the world with a high-speed train connecting the modern cities of Guangzhou and Wuhan at an average speed of 350 kilometres an hour.
Millions of fans of Hindi movies will soon be able to watch their favourite Bollywood films in multiplexes, with highly-placed sources in the film production and exhibition business saying a resolution is expected before June 12 to the two-month dispute over revenue-sharing between producers, distributors and multiplex owners.
The Orissa government plans to woo major players in the food processing industries to promote investment in this sector. They will be contacted for setting up manufacturing base in the state.
The US Treasury has received $45 billion from Citigroup and Wells Fargo as repayment of loans which the Obama administration had given to the two American banking giants to help them recover from financial crisis.
One of the positive fallouts for India from the BASIC powwow at Copenhagen was the thaw in India-China relations after the recent chill over Dalai Lama and Arunachal Pradesh. A warm and friendly Chinese premier Wen Jiao Bao bent over backwards to reassure Prime Minister Manmohan Singh that China was a good friend of India, adding that contrary to the impression created by the China-US joint statement issued during the visit of US President Barack Obama, China had no intention to interfere in India’s disputes with Pakistan. Perhaps feeling that Manmohan Singh was not fully convinced of his good intentions, Premier Wen insisted, “I am telling the truth, I am not a liar”!
Business Standard / December 27, 2009, 0:21 IST
India and China have not only agreed to act to cut down emissions but are also willing to be accountable for their action, Australia"s environment minister has said.
- Many poverties - How many mouths to feed? - High inflation numbers derail Dalal Street - Sunil Jain: And now, quotas for Muslims">Sunil Jain: And now, quotas for Muslims - New rule raises number of poor by 100 million - "Over 27% were living below poverty line in 04-05"
Business Standard / New Delhi December 17, 2009, 0:56 IST
Over 27 per cent of the population in the country were living below poverty line during 2004-05, government said today.
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
Shobhana Subramanian & Shyamal Majumdar / Mumbai November 24, 2009, 0:00 IST
Some time in the summer of 1997, LG had thrown a party in Delhi. The Korean chaebol had set up shop in the country and was in a mood to celebrate. It had earlier joined hands with C K Birla but the joint venture fell through even before it could start. Globally, it had gone through a brand makeover from Lucky Goldstar to LG. It was now ready to have a go at India. At the party, K R Kim, the head of LG in India, took a few guests aside and said he knew how to make a nuclear bomb. The nasal voice was little more than a whine. Before anybody could ask how, he called a bearer, mixed whiskey in beer and handed it over to the guests — enjoy the nuclear bomb!
Mukesh Ambani, India’s richest man and chairman of the country’s largest private sector company, Reliance Industries, has been ranked the fifth-best CEO in the world by Harvard Business Review.
Videocon thinks integrating set-top boxes with consumer appliances will prove disruptive in the crowded DTH market.
National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 793.85 crore to implement various projects in Tamil Nadu.
Dish Tv India, an Essel Group Company, reported a net loss of Rs 69.2 crore for the quarter ended June 30. 2009. Its net sales have gone up from Rs 246.3 crore from Rs 164.5 crore.
Videocon Industries today said it will consider selling equity shares on right basis and has called a board meeting on October 31 to discuss the issue.
Uttar Pradesh today organised an investors’ conclave in Mumbai, ‘Invest UP’, to promote ‘Brand UP’ before top industrialists and business houses of the country.
Debt sold by Citigroup Inc, Goldman Sachs Group Inc and JPMorgan Chase & Co is among the $450 billion of securities that Moody’s Investors Service said it may downgrade.
Infrastructure major Larsen and Toubro (L&T) has accepted all the demands in its implementation agreement with the Uttarakhand government on the 99-Mw Singoli-Bhatwari hydel project in the hilly Rudraprayag district.
Rises only 2% from Q1, with cement, oil & gas, power, telecom all holding back.
Nuclear Fuel Complex (NFC) has made history by supplying 11,016 fuel rods from the imported natural Uranium to the Nuclear Power Corporation of India (NPCIL) in a record time of six months for three reactors.
The aluminium major National Aluminium Company Limited (Nalco) and the state owned Nuclear Power Corporation of India Limited (NPCIL) have signed a memorandum of understanding (MoU) for collaboration with each other for setting up nuclear power plants in the country.
Nuclear Power Corporation of India (NPCIL) and National Aluminium Company (Nalco) today signed a Memorandum of Understanding (MoU) for setting up nuclear plants in the country.
Municipal Corporation of Greater Mumbai (MCGM) would regularise water connections to slums in the city that came up before 2000. The decision comes in the wake of an announcement made by Chief Minister Ashok Chavan to regularise water connections to pre-2000 slums.
The Vedanta Group has asked the Orissa government to restrict the entry of foreign non-government organisations (NGOs) in the area where it proposes to mine bauxite, as part of its $8-billion project in the state, saying they were instigating locals. “These NGOs comprising Survival International and Action Aid are instigating locals to go to the hill top, where we have proposed to mine bauxite, and set up houses. The Orissa government has already said there is no tribal population in our proposed mining site. Such efforts by these NGOs are aimed at harming the project and investments in the state; their movement has to be regulated,” Vedanta Aluminium Ltd COO Mukesh Kumar told PTI.
Post Copenhagen, Indian exporters are more likely to face non-tariff barriers on the grounds of environment. The commerce ministry needs to identify potential areas of conflicts and put in place a mechanism to respond to them.
M J Antony / New Delhi December 16, 2009, 0:59 IST
The World Bank has said it has barred a Russian subsidiary of Germany"s Siemens from participating in bank projects for four years, citing evidence of fraud and corruption.
Uncertainty surrounds the proposed IT investment region in Orissa with the state government not showing any resolve to expedite the project.
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
Kishore Biyani-promoted Future Group is expanding its private labels in various categories with plans to launch more products in new segments, such as toothpaste, as part of plans to become a Rs 25,000 crore conglomerate by 2013-14.