Corporate
The bourses have opened firm, tracking gains in the US and Asia. The Sensex is quoting at 17,314, higher by 125 points, and the Nifty is at 5,170, up 35 points.
Shares of Voltas spurted 20.55 per cent to Rs 118.2 on announcement of decent FY09 results. Net profit for the year ended March 31, 2009, increased by 21 per cent to Rs 251.40 crore, while total income rose 34 per cent to Rs 4,361.72 crore during the period.
The market is in a short-term downtrend and should find support between 5,000 and 5,050.
Upscale hotels to see occupancy rates of 40 per cent, mid-scale 25-30 per cent.
Rajesh Tandon / October 11, 2009, 0:26 IST
Welcoming Prime Minister Manmohan Singh"s announcement of Rs 1,000 crore assistance to flood-hit Karnataka, Chief Minister B S Yeddyurappa today sought an additional Rs 2,000 crore for providing relief to the lakhs of victims of the rain fury in northern districts.
Bacardi-Martini India and Hungama Digital Media have launched a music and video download website called Bacardi Mixxology (mixbacardi.com) to promote the Bacardi white rum brand in the country. Similar to iTunes, the internet storefront allows users to download music, videos, ringtones, mobile wallpapers at a reasonable price of Rs 10 a download or Rs 99 for unlimited downloads for a month, both on PCs and mobile handsets.
Australia today became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, declaring the risk of recession over.
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.
Opposition members expressed concern in the Lok Sabha today over the server crash during the CAT examinations that affected hundreds of students all over the country.
Over 2.4 lakh aspirants will vie for entry to the prestigious Indian Institutes of Managements (IIMs), the Common Admission Test (CAT) for which will be computer-based for the first time this year.
Sunil Jain / New Delhi November 17, 2009, 0:41 IST
Liquor manufacturer Radico Khaitan today said it will seek shareholders approval for raising Rs 375 crore by share sale from domestic and international markets.
Jet Airways, Kingfisher Airlines and SpiceJet today announced a hike in fuel surcharge by up to Rs 200 on their domestic flights. It translates into a maximum hike of up to 7.5 per cent on existing average fares.
United Breweries (UBL), India"s largest brewery controlled by Indian billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit to Rs 35.5 crore for the first quarter of current fiscal as against the corresponding period of last fiscal. Net sales at Rs 556.4 crore was up 17 per cent, powered by a 25 per cent growth in strong beer.
Kingfisher Airlines, owned by UB Group, is planning to raise up to Rs 500 crore through issue of further share capital. Company officials indicate that this may be through a number of options including a follow-on public or rights issue.
Swiss telecom firm ByCell has approached the Foreign Investment Promotion Board (FIPB) to reconsider its proposal to start telecom services in India and the matter will be taken up later this week.
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.
More than a month after the unceremonious exit of the controversial oil regulator V K Sibal, the government has begun scouting for a new head of the Directorate General of Hydrocarbons (DGH).
Kolkata-based FMCG major Emami Limited has raised Rs 310 crore through a qualified institutional placement (QIP) issue.
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.
Mihir Mishra / New Delhi November 11, 2009, 0:30 IST
I am a first time buyer of a four wheeler. I don’t change my vehicles often and plan on using my next acquisition for the next 12 to 15 years. I have shortlisted the Chevrolet Spark LT, Hyundai Santro Xing GLS, and Maruti Suzuki Zen Estilo LXI.
Should I buy the Maruti Suzuki Swift or the Ritz? I’d like to go for the petrol VXi model of either of these two. My daily travel is not more than 30 km maximum. Do you think I should go for a diesel instead?
Bharti Airtel and Cisco today announced a strategic business alliance to create products and services for the small, medium and large enterprises.
AstraZeneca, an international healthcare company engaged in research, development and manufacturing of prescription medicines, and Nektar Therapeutics, a biopharmaceutical company headquartered at California with research and development operations in Hyderabad, have entered into an exclusive license agreement for two drug development programmes.
Biofuels have a limited role in India due to land limitation and food security issues, Environment Minister Jairam Ramesh said today, a view which differs from the official line pushing for a 20 per cent blend of such fuel in gasoline and diesel by 2017.
The Government is in the final stage of notifying the fuel efficiency standards for automobile sector in the country which will be enforced from 2011, Environment Minister Jairam Ramesh said today.
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.
Accusing Pakistan of not doing enough to bring to book the perpetrators of the 26/11 Mumbai terror attacks, Prime Minister Manmohan Singh has said India does not know whom to deal with in Islamabad as the army is the most powerful force in the neighbouring country.
Trying to resolve sticking points on the India-US civil nuclear cooperation agreement on the one hand, and narrow differences on their approach to climate change on the other, India and the US are likely to sign a joint Memorandum on Energy Security, Clean Energy and Climate Change during Prime Minister Manmohan Singh’s visit to the United States this week.
Business Standard / New Delhi November 22, 2009, 0:05 IST
As he prepares to meet President Barack Obama in Washington, Prime Minister Manmohan Singh today said a "sustained and dynamic" Indo-US partnership is essential to meet major global challenges like international terrorism, climate change and economic slowdown.
Viceroy Hotels ended at Rs 54, higher by Rs 1 or 2.6%, on the BSE.
To help India attain low energy-intensive growth, the World Bank aims to increase its lending to the country’s clean-power generation and energy-efficiency programmes.
Sunil Jain / New Delhi January 5, 2010, 0:50 IST
There is a flicker of hope for Tata Motors’ abandoned Singur site. A team from government-owned Bharat Heavy Electricals Ltd (BHEL) today visited the place, along with state government officials, for a possible project with the West Bengal Power Development Corporation.
The benchmark indices rose for the second straight day today with S&P CNX Nifty closing at a 22-month high of 5,278. Nifty January futures closed at a premium to the spot and added 1.05 million shares in open interest through buy-side trades, indicating fresh long build-up. However, the Nifty remained range-bound after opening at higher levels.
Eyeing the forthcoming Commonwealth Games in India as an opportunity to promote tourism in the state, the Haryana government has decided to introduce a bed-and-breakfast scheme.
Noted economist Suman Bery is both passionate and learned about this art form.
IT services provider Hexaware Technologies today said its consolidated net profit surged by over three-fold to Rs 41.34 crore for the quarter ended September 30, against the same period in previous fiscal.
The government will impose a hefty penalty of 15 per cent of sale proceeds if farmers produce more export quality tobacco than the quota allotted to them by the Tobacco Board for the current year.
The Central Board of Excise and Customs (CBEC) has issued Circular number 26/2009-cus dated September 30, 2009, clarifying various changes made consequent to announcement of the new Foreign Trade Policy (FTP). Exporters must take note of the following:
On account of exhausting mobile phone numbers starting with the digit 9, the Department of Telecom (DoT) has allotted Reliance Communications (RCom) a new series beginning with the digit 8(055) for its Maharashtra and Goa circle (M&G).
Calls made from the mobile handsets without International Mobile Equipment Identity (IMEI) number are being rejected by the cellular operators from this week, the Rajya Sabha was informed today.
A new sports bar in NCR is a nice hangout place but not meant for genuine fans
With the Indian economy showing signs of leaving the recession behind, companies from the US are once again making a beeline to the India shores scouting for opportunities. Companies from varied sectors are looking to test the waters with an investment in mind at a later stage. “Last year, things were rocky and very few trade delegations came to India. However in the last one and half months, things have turned around,”said Sandeep Mehra, committee member, Indo American Chamber of Commerce (IACC), Karnataka branch.
Bharat Forge
Pennar Industries, a leading player in engineered metal products, has clocked a 24 per cent rise in its first quarter net profit at Rs 38.1 crore as against Rs 30.8 crore in the same period previous year.
State-run telecom operator BSNL would expand its network in naxalite-affected areas of Bihar and update facilities in the region bordering Nepal, Union Minister of State for Communications Sachin Pilot said today. "We will lay thrust on expanding our network in the naxal-hit areas of Bihar, besides updating communication facilities in the areas bordering Nepal," Pilot told reporters here.
Maruti Suzuki India (MSI), the country"s largest car maker, today said it will launch a new van within this fiscal to replace its MPV Versa, whose production has been stopped.
Car maker Maruti Suzuki India Ltd today reported a 41.56 per cent jump in sales for August at 84,808 units.
Business Standard / New Delhi August 26, 2009, 0:43 IST
With the country’s capacity to manufacture medicines at competitive prices and drugs worth $80 million going off-patents soon, there is a big opportunity for investment in the drug manufacturing sector, Health Minister Ghulam Nabi Azad said today.
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:
DLF rallied nearly 3% to Rs 373. The scrip touched an intra-day high of Rs 376. Around 3.9 million shares changed hands at the counter as against its two-week average traded quantity of 3.8 million shares.
Almost a year after its inception, the Indian Institute of Technology, Gandhinagar (IITGn) has got its own director in Sudhir K Jain. An expert in earthquake engineering, Jain graduated with a BE in civil engineering from IIT Roorkee before he went on to pursue a masters degree, as well as PhD in structural engineering. In an interview with VINAY UMARJI & CHITRA UNNITHAN, Jain talks about his plans of making IITGn “one of the finest institutions in the world”. Edited excerpts:
Public sector financial institution Bank of Maharashtra"s (BoM) net profit jumped 118.29 per cent to Rs 101.79 crore during the first quarter of the current financial year as against Rs 46.63 crore posted during the corresponding quarter of the previous fiscal.
Without a strong global economic recovery, the maritime sector will find it tough to overcome the demand-supply mismatch.
PTC India Ltd, the country’s largest power trading firm, has posted a 76.8 per cent rise in net profit for the quarter ended June 2009 owing to increased trading volume and higher treasury income.
This is the third price hike in less than a month; mills will pay Rs 200-205 a quintal.
The Sensex has opened down 22 points at 16,826. The index is now down 25 points at 16,825.
While sugar prices are likely to stay at high levels, stock valuations reflect most of the positives.
Japanese two-wheeler firm Yamaha today said it will introduce a new version of its super-bike YZF-R1 in the country next year, and a range of other models and variants from its stable to strengthen its position in India.
NLC net rises marginally
Here"s another reality show, but of a different kind — this one includes engineering and management students who will vie for funding for their business ideas from real time investors.
Announce intense agitation against Rs 30,000-cr project
Zensar Technologies today reported an over two-fold jump in net profit at Rs 27.74 crore for the quarter ended September 30, 2009.
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.
Despite uncertainties over cane pricing, sugar mills in Uttar Pradesh plan to commence crushing as early as possible, in order to avoid any recovery loss which may impact their operating performance.
Vodafone’s much talked about Zoozoos were in the news again. This time round it was thanks to a merchandising tie-up with Shoppers Stop. Now Zoozoo fans had the opportunity to bring the fictional, winsome characters back into their lives, as a part of their apparel and attitude. Thinking back to the release of the Vodafone Campaign during the IPL, the response and stir created seemed almost unprecedented. By the time the first few ads were on air, Zoozoos had mutated from television screens to laptop wallpapers, editorial features, mobile screen savers and facebook wall posts and fan pages. The campaign managed to convert consumers into fansumers, i.e. endorsers and subscribers to the brand.
The British government is planning to pump in an additional capital of up to 19 billion pound into the Royal Bank of Scotland (RBS) and hike its stake to as much as 84 per cent, a move that would virtually nationalise the bank.
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.
The stock touched a high of Rs 233 and finally settled 4% higher at Rs 228. The counter clocked volumes of 1.93 million shares on the BSE.
The Steel Ministry has sent the proposal to sell 10 per cent of the government"s holding in state-run Manganese Ore India Ltd to the Department of Disinvestment, Parliament was told today.
The initial share sale offer of Indiabulls Power attracted five anchor investors, raising over Rs 316.46 crore, before the slated opening of the issue on Monday.
Gross non-performing assets up 23% in 12 months.
Central banks plan to raise gold holdings in view of dollar’s fall.
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 government may selectively extend more sops to exporters rather than withdrawing the stimulus given to them last year in the face of global slowdown, Commerce and Industry Minister Anand Sharma has said.
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.
The rift between Karnataka chief minister B S Yeddyurappa and his mine-owning ministerial colleagues continued as they stepped up their campaign against a new cess imposed on lorries transporting iron ore. Tourism minister G Janardhana Reddy, himself a mine owner in the ore-rich Bellary district, took the lead in holding parleys with like-minded fellow miners since yesterday to mobilise support against the Rs 1,000 cess on each lorry load of iron ore, sources close to them said here. There are 92 licenced owners of mines in the district and about 40 of them have been carrying on mining.
The Mittal brothers-led Ispat Industries plans to repay Rs 800 crore of debt in the next financial year to evade the risk of conversion of a part of its debt into equity by creditors. The company has total debt of Rs 7,000 crore lent by 14 creditors, who have got shareholders’ approval to convert a part of this into equity in case of default.
Natco Pharma net up 13%
I have invested Rs 1 lakh in Reliance Diversified Power Sector Fund. Its value has come down to Rs 74,000. What is the future outlook of this fund? Should I stay invested or redeem?
Business Standard / New Delhi November 06, 2009, 0:34 IST
The stock of Infosys Technologies rose nearly 2 per cent to close at Rs 2,235, a level not reached in over two years.
Buoyed over 22-month high industrial growth of 10.4 per cent in August, Finance Minister Pranab Mukherjee today said it is a recovery process from the earlier slowdown caused by the global financial crisis and possibly there could be some higher growth projection.
The Indian Institute of Public Health Gandhinagar (IIPHG), which launched a one-year diploma course in public health management for government servants a year ago, is now planning to introduce a postgraduate programme in emergency management.
Subir Gokarn / New Delhi November 16, 2009, 0:04 IST
Sequoia Capital India today announced that it has invested Rs 40 crore in Just Dial, a local search engine.
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.
Sanjaya Baru / New Delhi November 4, 2009, 0:58 IST
Finance Minister Pranab Mukherjee today signalled that the government’s economic reform strategy would focus on fiscal consolidation, debt management and mobilising additional resources through disinvestment proceeds. The emphasis would be on curbing subsidies and promoting private sector investment by continuing stimulus measures.
The government is planning to import up to two million tonnes of rice to augment domestic supply, as production of the foodgrain is projected to decline due to the twin impact of drought and floods. The Centre, which had scrapped import duty on rice last month, may also consider incentivising imports, sources said.
Facing a fiscal deficit of 6.8 per cent of Gross Domestic Product for the current financial year, the government is likely to delay for a year or two the National Investment Fund (NIF), a move that will enable it to keep disinvestment proceeds in the Consolidated Fund of India (CFI).
India Inc today saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10.
Economic think-tank Centre for Monitoring Indian Economy (CMIE) today revised down India"s growth forecast to 5.8 per cent in the current fiscal on account of lower agricultural output and slower industrial recovery due to the poor progress of monsoon.
Surjit S Bhalla / New Delhi December 26, 2009, 0:41 IST
The Indian Institute of Management-Lucknow is organising an ‘India SME conclave’ on December 21 to discuss the competitiveness of the sector in the backdrop of the Free Trade Agreement (FTA) era. The small and medium enterprises (SME) sector is the growth engine of the Indian economy and contributes over 40 per cent to the country’s industrial output and around 35 per cent to direct exports. The theme of the conclave is ‘Low cost financing options and the impact of FTAs on the SME sector in India’.
With the Indian economy regaining its robustness, the Income Tax Department has collected an additional Rs 2,477 crore from the top 90 advance taxpayers in the third quarter (October- December) this financial year.
Even as the economy is showing signs of revival, industry"s fears about dumping by other countries is on the rise, prompting the government to initiate as many as 20 fresh anti-dumping investigations since the beginning of current financial year, compared to 21 in all of 2008-09.
India’s recovery from the global financial crisis is “still fragile”, according to Reserve Bank of India (RBI) Governor D Subbarao.
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.
The Reserve Bank today said it will ask banks to furnish details regarding their exposure in the Dubai World, a government-owned firm that has requested postponement of $59 billion loan repayment, said RBI deputygovernor Shyamala Gopinath here.
Tata Motors ended at Rs 827, higher by Rs 34 or 4.3%, on the BSE.
In its first overseas venture, Cairn India has begun work on an exploration block in the Mannar Basin, off Sri Lanka.
The Indian rupee today depreciated by 8 paise to 46.28 against the US currency in early trade on expectations of capital outflows by foreign funds.
For the second time this month, state-owned oil firms today hiked jet fuel prices, this time by 2.4 per cent following a spurt in international oil rates.
The Union Cabinet today approved additional fund for the expeditious completion of capital"s infrastructure for the 2010 Commonwealth Games.
The Deputy Chief Minister of Punjab Sukhbir Singh Badal today urged Farooq Abdullah, Union Minister for New and Renewable Energy to enhance the central subsidy for solar water pumping systems for irrigation and allied purposes from Rs 30 per watt to Rs 100 per watt to make the system viable for small and marginal farmers.
Shareholders will get 4 shares of UltraTech for every 7 shares of Samruddhi
HPCL-Mittal Energy Limited (HMEL) has paid Rs 60 crore to insure its planned refinery in Bathinda in Punjab against risks during the construction phase.
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.
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.
Blaze still on, investigation ordered
Orissa government today said it would seek people"s support for the implementation of mega projects, including Rs 51,000 crore proposed steel plant to be set up by South Korean firm Posco.
The industry minister Raghunath Mohanty today asked the sponge iron units to adopt clean, green and sustainable technologies in their production process while assuring to look into various problems faced by them.
Industrial output, as measured by the index of industrial production (IIP), grew by 9.12 per cent in September, up from 6 per cent in September 2008. It was mariginally lower than the 10.4 per cent in August this year.
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.
S M Krishna / October 4, 2009, 0:45 IST
The country"s largest software exporter, Tata Consultancy Services (TCS), today said various promoter group entities sold over 2.73 crore shares in the company, representing a 2.03 per cent stake, over a period of a little more than one year.
The government today said that more companies should go for listing as it would help a large number of investors to become partners in the development of the corporate sector.
Centrally-funded technical Institutions, including IITs and IIMs, are suffering due to about 25 per cent shortage of faculty, the Lok Sabha was told today.
The petition filed by Nandini Raju, wife of Satyam Computer Services’ jailed founder, B Ramalinga Raju, seeking the court’s permission for her to bear his medical treatment expenses, has been posted for tomorrow.
Reliance Industries Limited (RIL) has come out with a statement saying its cost of production of gas from its Krishna-Godavari Basin is $2.9 per million metric British thermal units (mmBtu). In other words, the company will incur a loss if it is to supply 28 million metric standard cubic meters per day (mmscmd) to Reliance Natural Resources Limited, as it has been asked to do by the Bombay High Court. But the Bombay High Court judgement quotes RIL’s advocate Harish Salve as saying ‘that even at that price ($2.34 per mmBtu) RIL makes a profit’.
Finance Minister Pranab Mukherjee attributed the 4.78 per cent spurt in inflation in November to rising prices of food articles.
Some trends of the decade in popular music, encompassing hits, losses, challenges, rivalries, victories, tv, movies — and himesh reshammiya.
3 Idiots has passed the cinegoer’s test with flying colours. The Aamir Khan-starrer raked in Rs 12.5 crore on Friday. Experts estimate the movie to net Rs 40 crore over the first weekend from the box office, with gross collections of Rs 65 crore. Khan’s last release, Ghajini, earned around Rs 40 crore net in the first four days, since the movie released on a Thursday. Aamir Khan said: “The response is huge, we are still gathering the enormity of opening collections. To match Ghajini’s opening day collections is something, to surpass Ghajini is completely overwhelming.”
Mukesh Ambani Group firm Reliance Industries (RIL) and Anil Ambani"s Reliance Natural Resources (RNRL) today joined hands to oppose the plea of a shareholder in both the companies to be made party in their ongoing dispute in the Supreme Court over the gas price to be supplied from the KG basin.
Troubled financial services firm Citigroup has said that any allegation that the Federal Bureau of Investigation (FBI) is working on a case involving breach of the company"s systems resulting in millions of dollars losses is false.
The Satyam Computer accounting scam, slowdown and resultant hiring freeze by many made 2009 a forgettable year for the Indian Information Technology industry.
Business Standard / New Delhi December 20, 2009, 0:28 IST
Sanjaya Baru / New Delhi December 21, 2009, 0:42 IST
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
Nearly two years after Amitabh Bachchan laid the foundation of a girls college named after his daughter-in-law and actress Aishwarya Rai in Barabanki district, legal formalities have been completed to transfer the land to the organisation building it.
These phones and laptops will make you look like a million bucks.
Sunil Sethi / New Delhi August 22, 2009, 0:04 IST
Imagine you are having dinner with some friends, and in walks Shahrukh Khan or someone equally famous. You get a picture clicked with him and want to share it with the world instantly. But how do you go about it since you can’t possibly wait till you get home and transfer the pictures to home PC.
Some of the operators plan to move court.
Rising coal prices cited as reason.
The road to Lalgarh, in the heart of West Bengal’s Naxal badlands, is now secure. But it is still a distance too far for many of the districts" administrators to travel.
Consumer durables major Videocon Industries today said its board has approved raising Rs 1,245 crore by issuing shares on rights and preferential basis.
Survey expresses serious concern at food prices, farm growth.
GVK Power & Infrastructure, which recently took a 12 per cent stake in Bangalore International Airport Ltd (BIAL), has said it is open to taking a controlling stake in the airport.
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.
Engineering and construction major L&T and Nuclear Power Corporation of India Ltd (NPCIL) today announced the formation of a joint venture to produce critical components for nuclear power plants such as special steels and ultra-heavy forgings.
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.
Ranbaxy Laboratories, received the final approval in Canada to manufacture and market Ran-Simvastatin tablets from Health Canada, Therapeutic Products Directorate. The total generic market size of Simvastatin tablets in Canada is $CAD153 million.
Zandu Pharmaceutical Works, the manufacturer of ayurvedic health care products, today reported a growth of over twofold in its net profit for the quarter ended June at Rs 11.12 crore, over the corresponding period a year ago.
Bloomberg / January 5, 2010, 0:16 IST
Kishore Biyani-led Pantaloon Retail India has booked a total of 22-million sq ft of retail space and plans to make 3-million sq ft operational every year over the next 3-4 years.
Higher depreciation charges, interest and employee costs have brought down the net profit of Pantaloon Retail, the country’s largest retailer, by 54 per cent for the financial year 2009.
Citigroup Inc, Marshall & Ilsley Corp and Huntington Bancshares Inc ended 2009 with the biggest drops in the Standard & Poor’s 500 Index, weighed down by defaulting property loans that may add to their declines this year.
Airtel DTH seeks to break out of the clutter in the direct-to-home service space by banking on a Bollywood-like plot
Reliance Webstore, the retail arm of Reliance Communications, today said it has forayed into handset distribution and plans to have a network of 10,000 outlets across the country in the next three years.
Reliance Communications today said it has entered into an agreement with Financial Technologies Group firm atom technologies for using its mobile financial solutions.
The Comptroller and Auditor General has termed as "unwise" the crores of rupees spent on the upgradation and extension of the airstrip in Safai, the native village of Mulayam Singh Yadav, during his tenure as Chief Minister of Uttar Pradesh.
Petroleum PSUs have not made any significant new find in oil and gas reserves in recent years, Minister of State for Petroleum Jitin Prasada told the Lok Sabha today.
Philip Healthcare today said it will set up 130 sleep labs in various hospitals and clinics in the country by the end of 2010, besides creating awareness about sleep disorders and the problems related to it.