Public Relations
The Uttar Pradesh sugar industry, the largest in the country, may engage Ajit Singh-led Rashtriya Lok Dal (RLD) in talks for resolving the cane price impasse, which is delaying the full fledged crushing in the state.
The boundary between a television set and a computer is blurring. Consider Zenith Computer-promoted Vu Technologies’ offering, the Intelligent TV, which is a television-cum-PC with a Microsoft Windows operating system (OS).
The sugar industry is all set to challenge the recent amendment to the Essential Commodities Act, which seeks to introduce a fair and remunerative price (FRP) for sugarcane, besides absolving the government of a Rs 14,000-crore levy price obligation arising out of several court rulings.
The Tamil Nadu government attracted investments worth Rs 15,000 crore during 2009, majority of which was driven by the automobile industry.
In the past three sessions, the market has tested 5,015 and pulled back.
New government policy on biofuels may consider financial incentives.
Manufacturers upbeat on account of economic revival, year-end sales
A section of Air India employees owing allegiance to ACEU has threatened to strike work from December 22 to protest the management"s proposed move to withdraw some facilities now available to them from January 1.
Jharkhand Mukti Morcha (JMM) supremo Shibu Soren is set to become the chief minister of Jharkhand with the support of the Bhartiya Janta Party(BJP) and the All Jharkhand Students Union (AJSU).
Global information and media house Nielsen today said it has appointed Shubhranshu Das as the Regional Head for its Global Financial Services Practice group in South Asia.
A status quo on “title and possession” is to be maintained on four properties that were owned by the late patriarch of the Ranbaxy family, Bhai Mohan Singh, and his wife, according to an order of the High Court here. Further proceedings will be taken up in March 2010.
What was till now a popular model in the road sector has now become a strategy for cash-strapped Indian Oil Corporation to save on capital investment. The company has managed to bring down the cost of its Rs 29,777-crore Paradip refinery by Rs 5,000 crore, by taking recourse to the build-own-operate-transfer (BOOT) model.
The Rs 1,000 crore heath city project coming up in Bardhaman, a Tier II city about 150 kilometres north of Kolkata, is expected to generate direct and indirect employment of over 9,400 people when fully operational besides promoting health tourism in the state.
Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure Ltd (GVKPIL), on Sunday acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects Ltd in Bengaluru International Airport Ltd (BIAL) for a total consideration of Rs 686 crore.
Online trading platform eBay India today said its India business is likely to grow by over 35 per cent on the back of increasing participation from semi-urban and rural areas.
After its success from b2b online trading platform for coal and steel, Mjunction services, a 50:50 e-commerce Joint Venture of Tata Steel and SAIL today forayed into retail space with a shopping portal straightline.In.
The Sensex opened at 17,719 and soon touched a high of 17,790 - the highest level in the last 22 months. Weakness in the IT shares however pulled the index into the negative terrain to touch a low of 17,636, down 153 points from the day"s high. The BSE benchmark index kept on swinging zones for the rest of the trading session and finally ended flat at 17,701, up 15 points. The NSE Nifty is at 5,282, up four points.
The Sensex opened at 17,719 and touched a high of 17,790 on mixed cues from global markets. However, it has slipped and is now up 40 points at 17,726.
Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure (GVKPIL), today acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects in Bengaluru International Airport (BIAL) for a total consideration of Rs 686 crore.
Bangalore International Airport Limited (BIAL) has extended its end-to-end managed services contract with Nortel for three years. Nortel will manage BIAL’s entire IT infrastructure, which includes data and wireless network systems and will oversee network security. This network will be managed remotely through Nortel’s Network Operations Center (NOC) in India, which will continue to ensure the high level of reliability and dependability the airport requires.
The Centre has expressed confidence that by 2020 the polluted river Ganga would be cleaned and Rs 15,000 crore will be spent on it.
HINDUSTAN UNILEVER
The stock soared to a high of Rs 429 and finally ended at Rs 421, up 5.5% from its previous close. The counter clocked volumes of 323,029 shares as compared to the two-week daily average traded volumes of 20,162 shares on the BSE. _________________________________________
Business Standard / New Delhi November 11, 2009, 0:27 IST
COMMENT: VK Aggarwal, Former Chairman, Railway Board
The $100-million (Rs 470-crore) equity infusion through issue of global depository receipts (GDRs) to US-based buyout specialist Apollo Management and Rs 410 crore expected from the third tranche of its rights issue should help India’s largest direct-to-home (DTH) service provider, Dish TV, increase its subscriber base and post an improvement in performance.
Domestic brokerage firm India Infoline today said its consolidated net profit rose by 44.27 per cent to Rs 58 crore for the second quarter ended September 30, over the same period last year.
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said.
A majority of large private equity (PE) players are gearing up to raise fresh funds for investing in the infrastructure sector. According to a survey of the leading PE firms conducted by management consultancy Ernst & Young and industry body Asscoham, 84 per cent of the PE firms said that they found the present environment conducive to raise infrastructure-focused funds.
You can use it to outguess the market.
Domestic mutual funds booked Rs 12,639 crore profit in the first half of the financial year by selling equity.
Domestic institutional investors (DIIs) were net buyers of Rs 86.72 crore (provisional) today, according to data released by BSE.
The Sensex has slipped further and is now at 16,623, down 220 points.
Reliance Communications on Friday tied up with Chennai-based UniverCell, a telecom services retail company.
Brand experts are divided on the move to drop the 10-year old name of the European steelmaker, which contributes 70% of Tata Steel’s production.
Rajeswari Venkatesh, 26, a software professional, was looking to invest Rs 50,000. And while friends and colleagues suggested a plethora of stocks or mutual fund schemes, she wasn’t feeling very confident about taking a decision on their advice.
The Forward Markets Commission (FMC), the commodity futures markets regulator, has warned exchange members not to accept trade request from clients whose account witnessed no trade since the past six months.
With turnaround in exports, the finance ministry is likely to withdraw a string of fiscal stimulus given to exporters to fill in the "budgetary hole", commerce secretary Rahul Khullar said today.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 278.37 crore in futures and options segments on Wednesday.
Titan Industries, a Bangalore-based watch and jewellery arm of Tata Group, today reported 41 per cent jump in its net profit at Rs 46.04 crore for the quarter ended June 30, 2009 compared to the corresponding quarter last fiscal.
Dr Kushagra Katariya, CEO and chief cardiothoracic surgeon of Artemis Health Institute, Gurgaon, thinks that YouTube can be the smartest way to reach millions in the field of medical science. So long as he is not reading about electricity-generating solar panels, he has no gadget wish-list, and buys whatever he likes, whenever he likes.
The government has now decided to go for electronic trading of wheat for bulk consumers like flour millers to boost sales of the grain in the open market.
While the battle lines for folding the Forward Markets Commission into Sebi have been drawn — and good luck with that — I believe that there is a more important, and easier, battle that needs to be fought as well. This has to do with the evolution of the corporate bond market. No less an authority than the prime minister has acknowledged that this is a crucial piece of India’s development and I have little doubt that you are already working with RBI on how best to turn this need into a reality.
Inflation, a number of large issues and high valuations may weigh on indices; Sensex expected to trade at a historical average P/E of 15 on FY11 earnings.
A hundred and fifty years after photographer James Waterhouse charmed Nawab Sikander Begum of Bhopal to sit for him, an illustrated tome on the encounter, and other Indian trysts, enthralls Gargi Gupta.
New tax rules on perks need some smart changes in what you claim.
The stock gained 3.1 per cent to Rs 236.95 on reports that the company earned $4 million (approximately Rs 18 crore) by creating 200 of the 1,600-odd shots in James Cameron’s mega Hollywood movie Avatar. The film, with a reported budget of at least $300 million, is one of the most expensive films ever made.
State-run Union Bank is not likely to cut lending rates although the cost of funds may start coming down from the third quarter of the current financial year (2009-10).
Private sector-lender, Dhanalakshmi bank today said that it has reduced its interest rate on deposits across various slabs.
IDBI Bank Chairman and Managing Director Yogesh Agarwal has emerged the frontrunner for the post of the chairman of the Pension Fund Regulatory and Development Authority (PFRDA).
With the objective to create awareness regarding banking services among people in remote villages of North-East, Reserve Bank of India (RBI) has undertaken a series of financial outreach programmes in the region.
The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 159.86 crore under Rural Infrastructure Development Fund (RIDF) XV to West Bengal. This includes an innovative Heifer Production Project (Rs 8.61 crore) in Kalyani. The project would generate and supply good quality crossbred cows and buffaloes throughout the state to boost milk production.
Advance tax payments by several automobile, power, cement and banking majors in the third quarter have been stronger compared to the year-ago pay-outs.
More than 500 farmers of villages in Sanand block took out a rally in protest against the land acquisition by Gujarat Industrial Development Corporation (GIDC) for setting up a huge industrial zone in the area.
The National Bank for Agriculture and Rural Development (Nabard), has extended its financing scheme through Joint Liability Groups (JLGs ) to the non-farm sector, to cover the micro entrepreneurs and artisans among others. The scheme was earlier available to small and marginal farmers and tenant farmers and small farmers cultivating land without possessing proper title of their land.
Cadbury Plc, the confectioner that rejected Kraft Foods Inc’s bid on Monday, may attract suitors ranging from Nestle SA to Hershey Co and sell for as much as $21 billion, according to analysts.
Indian fast moving consumer goods (FMCG) players are once again on the prowl to acquire companies, as the economy picks up.
Kraft Foods Inc, which this month proposed to buy Cadbury Plc, is poised to make an 11 billion-pound ($17.6 billion) hostile bid for the chocolate maker, the Observer reported, citing unidentified “City sources”.
Sachin Tendulkar could be the face of the Brihanmumbai Municipal Corporation’s (BMC) forthcoming campaign on water. If everything falls in place, the star cricketer will be seen endorsing the cause of water conservation — a pressing issue in the city which requires upto 4,550 million litres per day shortly.
A big controversy on procurement of Rs 35,000-crore worth of equipment by telecom behemoth BSNL is brewing, with the position taken by the two government nominees on the board threatening the expansion programme of the state-owned telecom major.
Competing with Vedanta Resources, Grupo Mexico has come up with a $1.6 billion reorganisation programme for regaining control of its bankrupt firm Asarco.
The country"s leading public sector general insurance player, Oriental Insurance Company, is seeking insurance regulator Irda"s approval to open an office in Doha, the capital city of Qatar.
The Asian markets have today ended on a negative note.
Volkswagen, Europe"s biggest carmaker, and luxury auto manufacturer Porsche said they had approved a plan to merge by 2011 and create an automotive giant.
The move will shorten the 30-40 days it has to wait for between producing cars and delivering them.
The country"s largest two-wheeler maker Hero Honda today said it will upgrade all its existing models to meet Bharat Stage-III emission compliant norms by the end of this financial year.
Flagging investor segment ensured that merger and acquisitions, and private equity (PE) activity paled in 2009 in comparison with 2008. PE deal value took a 65 per cent knock in 2009 with deal volumes barely crossing $4 billion as compared to $11.96 billion in 2008. Harish H V — partner, National Management at investment advisory Grant Thornton, shares his views to Ravi Menon on what lies ahead.
Patel Engineering, a construction company, has raised Rs 344.32 crore through the fresh issue of shares to qualified institutional buyers (QIBs) at a price of Rs 477.03 per share.
Lancor Holdings, a realty major, has approved the further issue of securities up to a value of Rs 75 crore with domestic and international markets through various instruments. The decision ws taken in its board meeting yesterday.
The country’s largest liquor maker, United Spirits, today said it had raised Rs 1,615.60 crore by private placement of shares with qualified institutional buyers and the net proceeds would be primarily used to repay debt.
India, China and other developing nations have played a key role in checking the economic crisis, World Bank President Robert Zoellick has said, adding there is need of multiple poles of growth as the global economy can no longer rely on the US consumers.
Business Standard / New Delhi December 30, 2009, 0:33 IST
Shobhana Subramanian / Mumbai December 4, 2009, 0:53 IST
Four Seasons Wines Limited (FSWL), a subsidiary of UB Group’s spirits arm United Spirits Limited (USL), has cornered a 26 per cent share in Andhra Pradesh’s wine market within six months of the launch of its products, according to company director Abhay Kewadkar.
Vijay Mallya-promoted United Spirits is focusing on football as platform for promoting McDowell"s Celebration rum.
Tata Group auto component firm York Transport Equipment (Asia) today said it plans to set up a new factory in the country to produce axles as it looks to increase sales volume by 10 times in the next five years.
The stock market could see 17-18 such issues next year
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 apex body of state-run firms SCOPE welcomed the Cabinet decision to grant Maharatna status to four CPSUs, saying it will enable them to take major financial decisions quickly and compete globally.
The stock gained 5 per cent to close at a 52-week high of Rs 236.10 on reports that steel companies may increase prices next month to cash in on the demand surge in the domestic market and recovery in the global steel prices.
The financial institutions in the state have identified 1690 sick industries for revival as per the guidelines of the Reserve Bank of India (RBI). While 667 units have already been revived, seven such proposals are under consideration. The rest 1016 sick units were later found to be not in a position to be revived and hence, have been left out of the process, said industry minister Raghunath Mohanty.
In a ruling that would bring cheers to thousands of customers, the National Consumer Commission has ruled that banks cannot unilaterally change its schemes as it might amount to "deficiency of service."
Reviving its plans to hit the capital market, software product development services firm Persistent Systems, has filed a Draft Red Herring Prospectus (DRHP) with market regulator the Securities and Exchange Board of India (Sebi) to offload around 5.42 million equity shares.
India achieved the distinction of being the second-fastest growing economy amid the global recession in 2009, but the joy was marred by the decade"s sharpest rise in food prices to the chagrin of common man.
Alok Industries closed at Rs 22, higher by Rs 1 or 5%, on the BSE.
Vedanta Group has asked Orissa government to restrict entry of foreign 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.
The central trade unions would press for shelving a proposal that wants to tax withdrawals from savings schemes, including provident funds, at the pre-Budget meeting with Finance Minister Pranab Mukherjee on January 14.
Among many fallouts of the general elections in West Bengal in 2009, the resurgence of trade unionism, in particular, has significantly affected industry in the state during the last year.
Kanika Datta / New Delhi December 10, 2009, 0:53 IST
Domestic companies are expected to embark on a mega fund raising spree this year with plans to raise over Rs 50,000 crore by way of public offers, driven by the sharp recovery in the stock market.
Domestic companies are expected to embark on a mega fund raising spree this year with plans to raise over Rs 50,000 crore by way of public offers, driven by the sharp recovery in the stock market.
Hindalco Industries, India’s largest aluminium maker, plans to sell shares to institutional investors at Rs 130.90 each to raise Rs 2,900 crore this week. The board of directors met here today to fulfill the formalities before the issue is opened.
China"s top 500 companies outperformed their US counterparts for the first time last year, a survey conducted by a business group has revealed, as the financial crisis wreaked havoc in the United States.
Despite the ongoing global economic crisis, people worldwide will spend more this year on consumer electronics, IT and telecom and are expected to take the total market size to $706 billion, according to a survey.
Chinese banks: Economic crisis or not, China’s lenders are in good shape. The country’s big listed banks – Industrial Commercial Bank of China (ICBC), Bank of China and China Construction Bank (CCB), all unveiled mid-year balance sheets enviously light on bad debts. Thank China’s rapid growth – and an astonishing $300 billion vanishing act.
Indian Railways will be paying a higher dividend of Rs 5,479 crore during the current fiscal despite over Rs 3,000 crore dip in cash surplus on account of higher wage bill following implementation of the Sixth Pay Commission award.
Stumbling blocks for resolving the gas row between the Ambani brothers can be removed by putting together the family MoU and the demerger scheme, Anil Ambani-led Reliance Natural Resources (RNRL) told the Supreme Court today.
Reserve Bank of India Governor D Subbaro today said there is scope for banks to lower lending rates further.
The nationalised Indian Overseas Bank (IOB) today opened its new regional office Puducherry today.
Mukesh Ambani and Anand Jain promoted Mumbai SEZ Ltd has suspended, for an indifinite period, its land acquisition for the MahaMumbai special economic zone (SEZ) in coastal Raigad. The company may drop the project altogether, as it was not able to acquire “a minimum of 1,000 hectares of contiguous land” as mandated by the SEZ Act.
Public sector lender Bank of Baroda (BoB) today reported a jump of 60 per cent in net profit to Rs 634.18 crore for the second quarter ended September over the corresponding period a year earlier.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 1,594.16crore in futures and options segments on Tuesday.
The Finance Ministry today said the RBI"s move to retain almost all key rates unchanged will give a positive signal to the economy, which is on the path of recovery.
The chief executive officers of JPMorgan Chase & Co, Goldman Sachs Group Inc and Morgan Stanley will headline the inaugural hearing of a congressional panel investigating Wall Street’s financial crisis.
Brazil"s Petrobras has decided to quit Oil and Natural Gas Corp"s (ONGC) prolific gas discovery block in the Krishna Godavari basin, a vacancy that Royal Dutch/Shell and BP Plc are keen to fill-in.
The fiscal deficit rose by 73 per cent to Rs 3.06 lakh crore in the first eight months of the fiscal against Rs 1.77 lakh crore a year ago, as the government cut taxes and stepped up expenditure to stimulate the economy hit by the global financial crisis.
The Andhra Pradesh police have registered cases at 96 places and arrested 185 persons in the state in connection with the attacks on the outlets of Reliance Industries Ltd (RIL). The damage to the company’s properties was “not much and there is no major problem,” a RIL spokesperson told Business Standard.
Last week, the markets traded in a narrow range and finally ended in red. The Smart Portfolios benchmark, S&P CNX 500 index, shed 2.12 per cent (89.85 points) to settle at 4,153.05. In the process, the benchmark"s portfolio value depreciated to Rs 10.81 lakh from Rs 11.04 lakh in the preceding week. In the process, the benchmark-based portfolio"s net worth is now higher by 8.15 per cent when compared to the initial corpus of Rs 10 lakh at the start of Smart Portfolios on September 1, 2009.
Over-exposure to mid-caps and small-caps, feel analysts.
The recent surge in domestic sugar prices along with a strengthening rupee has made imports viable once again. About 400,000 tonnes of raw and refined sugar is estimated to have been contracted over the last two weeks. For last couple of months, millers had stopped contracting imports due to lack of price parity.
Wind power major Suzlon Energy today said financial services major Indiabulls Financial Services has reduced stake in the company to 0.6 per cent, by way of releasing pledged shares.
The year 2009 saw the industry combating the shadows of global slowdown. A year full of challenges, which kick-started with the Vibrant Gujarat summit, was also a blessing in disguise in some cases especially with pharma companies returning homewards to Gujarat or brain drain from the reputed insitutes like IITs and IIMs being contained for the time being. While acquisitions and mergers gained some momentum in the later half of 2009, some of the special economic zone projects were hit. Companies responded with more innovative solutions while waking up to newer challenges. Problems in land acquisitions continue to remain although the process has been far more peaceful in Gujarat as compared to other states. This can be guaged from the fact that the first Nano by Tata Motors at Sanand got ready this year
New Delhi, Dec 18 (PTI) A person seeking global trade mark now need not apply for it in several countries incurring a big cost, as Lok Sabha today amended the trade mark law to simplify the procedures.
Away from the glamour, but important nevertheless
It was a classic case of the davids of the world outpacing the goliaths. While the Sensex touched a 22-month high of 17338 in the earlier part of the week, only to turn sideways, the broader indices were the outperformers of the week. The mid-cap sector appreciated by 3.4% and the BSE small-cap space gained 4%.
The Ministry of New and Renewable Energy (MNRE) has announced an incentive of 50 paise per unit of wind power fed by independent power producers into the grid.
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.
The Indian consulate in Chicago today said the papers related to issuance of visas to terror suspects David Coleman Headley and Tahawwur Rana had not gone missing and the "relevant information" in this regard is available with the Indian government.
Treasury Secretary Timothy Geithner said US banks weren’t hurting their ability to lend as they repaid the loans of the Troubled Asset Relief Programme and backed away from government assistance.
The bailed out fat cats on the Wall Street woke up to stringent compensation norms this year sans hefty bonuses, as the Obama regime cracked down on excessive risk-taking ways of financial chieftains.
A V Rajwade / New Delhi November 09, 2009, 0:05 IST
- US economy moving in right direction: Obama - US economy expands 3.5% in Q3 - White House defends Obama"s economic policies - It may take US over seven yrs to wipe off job deficit: Report - Oil lower in Asian trade - Job mkt still grim; 27 people lose job per hour
Financial services major Bank of America today said its consumer banking chief Brian T Moynihan will replace Kenneth D Lewis as President and Chief Executive Officer of the company on January 1, 2010.
Companies in dire straits often roll the dice in a bid to stave off bankruptcy. The problem is that last-ditch efforts to raise new funds or restructure often come at the expense of bondholders. Struggling companies, their advisers and lenders should think twice about such strategies after an almost $700-million judgment last month against Citigroup Inc, Bank of America Corp, Wells Fargo & Co and other lenders, in connection with the bankruptcy of home builder Tousa Inc.
Credit Suisse Group AG, Switzerland’s biggest bank by market value, reported the highest quarterly profit in more than two years on gains from trading.
Jamal Mecklai / New Delhi November 13, 2009, 0:16 IST
Viceroy Hotels Limited, a city-based hospitality player, is planning to raise an amount of up to $15 million (approximately Rs 70 crore) through a qualified institutional placement (QIP) of equity shares not exceeding 10 million of Rs 10 each at a premium.
Bloomberg / October 27, 2009, 0:05 IST
Credit Suisse bonuses: Credit Suisse seems to think the best form of defence is attack. The banking industry is facing heavy criticism over bonuses. In response, the Swiss group is the first to set out the details of a new compensation structure, upholding a recent tradition of forward thinking on pay.
The Nifty closed marginally above the support level of 4,940 on short-covering at lower levels. The trading pattern in the Nifty futures and options suggests the index may fall below the 4,900 mark soon. The 5,000 call option added 2.24 million shares in open interest (OI), mostly through change of hands and sell-side trades, indicating strong resistance above the 5,000 level.
The foreign institutional investors (FIIs) were net buyers of Rs 1,770.73 crore in futures and options segments on Wednesday.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said today.
With the friendly policy initiatives and the funding mechanism, the Gujarat government may be moving in the right direction to promote entrepreneurship. However, India remains a tough place to be an entrepreneur, according to a report by KPMG India and The Indus Entrepreneurs (TiE).
Business Standard / New Delhi October 28, 2009, 0:09 IST
FIIs back in the game, buy shares worth Rs 769 crore.
Godrej Properties ended the debut day at Rs 534, which is a premium of 9% to its issue price of Rs 490.
JSW Energy ended Day 1 at Rs 101, a premium of Rs 1 to the issue price.
Power producer JSW Energy, which raised Rs 2,700 crore through initial share sale last month, will list its shares on the bourses tomorrow.
The UPA government"s austerity measures was dubbed as "tokenism", by BJP leader Yashwant Sinha today.
ING Life Insurance is expecting a 60 per cent growth in renewal premiums during this fiscal.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 899.75 crore in futures and options segments on Thursday.
Adani Power Rajasthan, a 100 per cent subsidiary of Adani Power (APL), has been awarded letter of intent (LoI) by Rajasthan Rajya Vidhyut Utpadan Nigam (RRVPNL) for purchase of upto 1,200 MW of power on long-term basis.
Cairn India, part of the UK-based Cairn Energy, said it would merge the oil and gas businesses of four of its subsidiaries with itself, a move that would improve administrative efficiencies.
Sebi should change the way issues are graded, say experts.
Naveen Jindal-controlled Jindal Steel & Power Ltd (JSPL) is in the race for Mongolia’s Tavan Tolgoi coal project, one of the 10 biggest deposits in the world.
THIS YEAR will be remembered as the beginning of the Magnus Carlsen era. Carlsen is not yet world champion. In fact, he can’t be, earlier than 2011-12. However, the world championship looks inevitable, even if it"s tempting fate to say it.
Dishman Arabia, the 50:50 joint venture between Dishman Pharmaceuticals & Chemicals and Saudi Arabia based Takamul, is bullish on touching a turnover of $50 million within two years of commencement of production at its JV plant in Riyadh.
Sixty per cent of the country’s services sector enterprises are in rural areas, according to a report by the National Sample Survey Organisation (NSSO). The report is based on the 63rd round of survey by NSSO to estimate the economic characteristics of services sector enterprises in India in 2006-07.
Set to turn the company around this year.
Foreign firms helping domestic oil explorers need to pay tax at lower rate of 10 per cent only as their business is technical services, the Authority for Advance Ruling (AAR) has ruled.
Aminah Sheikh / Mumbai December 17, 2009, 0:19 IST
Seeking to take forward the strategic partnership to new heights, Prime Minister Manmohan Singh today made it clear that India"s relations with third countries will never be at the cost of "time-tested ties" with Russia.
Raju and associates ‘forged board resolutions’ to secure loans.
Satyam Computer Services Ltd (SCSL) founder, B Ramalinga Raju, his brothers and their spouses have acquired 1,065 properties with a registered value of Rs 350 crore.
The year 2009 was one of the most challenging years for the Indian information technology (IT) services sector. Even as IT spends went down by almost 6-8 per cent globally, Indian IT companies had to grapple with the confession by Ramalinga Raju regarding a nearly Rs 8,000-crore fraud at Satyam Computer Services.
A government agency official today confirmed India has raised the minimum export price (MEP) of onion by $50 a tonne for all destinations to discourage exports and curb price spiral in the commodity.
State-run gas utility GAIL India has sought $0.18 as marketing margin to make up for the effort it undertakes to sell natural gas, Petroleum Minister Murli Deora said today.
The tri-nation gas pipeline between India, Bangaladesh and Myanmar may take shape in two to three years time, Myanmar Ambassador U Kyi Thein said here today.
The recovering IPO market is set to breathe life into pre-IPO placements, which were virtually dead for the past one-and-a-half years. Sources said a number of companies slated to hit markets soon were scouting for strategic investors to benchmark their public issues.
The markets rebounded strongly towards close, riding on the back of a recovery in Europe. The Sensex recovered more than 400 points from its intra-day lows to close at 16,632, down 222 points and the Nifty ended at 4,943, lower by 62 points.
India’s highest broad gauge rail station at Qazigund, about 80 km from Srinagar, at an altitude of 1,722 metres would become operational on October 28 when Prime Minister Manmohan Singh inaugurates the Anantnag-Qazigund section of the ambitious Kashmir rail link project.
India may go beyond the purchase of 126 medium multi-role combat aircraft.
Just days after an aborted deal for merger with South Africa"s MTN, Bharti Airtel today said it may bid to acquire Luxembourg-based telecom firm Millicom"s operations in Sri Lanka.
With profit-making not being the sole motive of public units, caution needs to be exercised while investing in their IPOs.
The restructuring should help strengthen the balance sheet and create value for shareholders.
Fastrack, a branded chain of retail stores from Titan Industries Ltd (TIL), has set the target of Rs. 360 crore sales turn over for the current FY 2009-10.