Business Ideas
National Thermal Power Corporation (NTPC) today reported a growth of 5 per cent in net profit at Rs 2,364.9 crore for the third quarter ended December 31, 2009, over the same period last year.
Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10.
Godrej Security Solutions (GSS) Division, one of the divisions of Godrej & Boyce Mgf Co. Ltd and part of Godrej Group, has set the target of around Rs. 400 crore turn over for the current FY 2009-10 and eyeing Rs. 500 crore turn over by FY 2010-11.
Two stores to open in Chennai, hiring begins.
Meenakshi Subramaniam / Mumbai January 24, 2010, 0:03 IST
The first report on impact of climate change, to be out by November 2010, will be on agriculture, the government today informed the Rajya Sabha.
Is the Doha Development Round (DDR) dead, as the anti-globalisation activists claim? Not yet, said trade ministers of the 153 member-countries of the Word Trade Organisation at the seventh Ministerial Conference at Geneva last week. They ended the Conference with a general agreement to recommence the stalled negotiations of the DDR and take it to conclusion by the end of next year. Even such broad agreement was in sharp contrast to the acrimony and bitterness that characterised the earlier failed trade talks at Cancun and Hong Kong.
Sobha Developers, the Bangalore-based publicly held real estate developer, is positioning itself on the springboard as it envisages launching projects worth Rs 2,800 crore over the next 12-18 months covering 8 million square feet. This statement is perhaps is one of the most encouraging one to come from one of the established developers as the real estate market is looking to come out of the woods of global recession.
Corporate Affairs Minister Salman Khurshid"s idea of trimming "vulgar" salaries of CEOs received support from within the government, but the industry warned that any regulation would lead to flight of talent.
Backed by government stimulus measures and a low base effect, growth in industrial output touched a two-year high in November 2009. The index of industrial production (IIP) grew 11.7 per cent, primarily due to growth in manufacturing (12.68 per cent in November as against 2.7 per cent last year), fuelling a debate on withdrawal of fiscal and monetary stimulus measures.
Ashok K Lahiri / November 28, 2009, 0:02 IST
WTO Chief Pascal Lamy is going to the G-20 meeting at Pittsburgh with a clear message that the failure to reach the Doha trade deal would be "hard felt" by the global economy facing the worst crisis since 1930s.
The government today said India is willing to take on more responsibilities than other SAARC members for the economic development of the region but said "bright" prospects of co-operation have been hurt by cross-border terrorism.
Prime Minister Manmohan Singh today said India is open to discussions on a free trade pact with the US on the lines of the agreement New Delhi already has with the 10-nation South East Asian bloc.
Martin Feldstein / December 5, 2009, 0:59 IST
India, Latin America and Africa must be taken on board while framing the rules for globalisation in the post-economic crisis scenario, French President Nicolas Sarkozy said at world economic forum"s (WEF) annual meeting here.
Mulls vigil on deals between generic and innovator firms.
Higher margins and increased sales across regions helped Mumbai-based drug maker Lupin Ltd register 38 per cent growth in its consolidated net profit for the quarter ended December, to Rs 160.6 crore against Rs 116.5 crore in the corresponding quarter of the previous year.
Anil Dhirubhai Ambani Group company Reliance Infrastructure (R-Infra) will soon be the official owner of the second phase of the Mumbai Metro project. The state government and the company would sign a concession agreement for the Rs 11,000-crore project on Thursday, according to sources.
Anil Dhirubhai Ambani Group (ADAG) today alleged in the Supreme Court that their corporate rivals were behind the petitions filed by farmers against the land acquition for the company’s proposed 8,000 MW Dadri power project in Uttar Pradesh.
Auto components maker Cooper Corporation today said it will foray into manufacturing of commercial vehicles, mainly to compete with Tata Motors" LCV Magic, and has earmarked Rs 300 crore to set up a plant and expand facility in Maharashtra in next 18 months.
Anil Dhirubhai Ambani Group (ADAG) today alleged in the Supreme Court that their corporate rivals were behind the petitions filed by farmers against the land acquition for the company’s proposed 8,000 MW Dadri power project in Uttar Pradesh.
India"s eight ambitious missions to address climate change may get funds in the Union Budget that will be presented in Parliament next month.
Slamming claims that it poses a threat to oil and gas sector regulator V K Sibal’s life, the Anil Dhirubhai Ambani group today said it would file criminal proceedings against the Director General of Hydrocarbons (DGH) for “defamation and character assassination”.
Seeking to put behind the recent verbal spat between India and China over Arunachal Pradesh, Prime Minister Manmohan Singh and his counterpart Wen Jiabao today agreed to build trust and understanding and strengthen the bilateral strategic ties.
On the back of 14 per cent growth in sales in the first quarter of financial year 2009-10, two-wheeler makers have reported 24 per cent growth in sales in July. The segment comprises motorcycles and scooters. The growth is a result of low base as annual sales growth last year was a mere 3 per cent.
India will on Sunday hold a meeting with its BASIC group partners comprising China, Brazil and South Africa in the capital to firm up a common position on the climate front post-Copenhagen.
After receiving Stage –II clearance from the Ministry of Environment and Forest (MoEF) for its 12 million tonne steel plant in Orissa, Posco-India has initiated various activities including infrastructure development to expedite the project work.
Barun Roy / New Delhi December 31, 2009, 0:27 IST
Women continue to play regressive roles on the small screen
Bollywood actress Deepika Padukone was the star attraction at a dinner hosted by Prime Minister Manmohan Singh for his Japanese counterpart, Yukio Hatoyama. “She was not only one of the tallest guests but also the bravest. While all others wore heavy winter dresses, she was wearing a saree. She didn’t seem to be bothered about the Delhi winter,” said a Cabinet minister. Padukone was invited as the Japanese prime minister’s wife, Miyuki Hatoyama, had seen Padukone’s debut film, Om Shanti Om, and expressed her desire to meet the actress.
In a well-researched book, Shoma Munshi argues that the bahu-soaps, far from being regressive, had strong women protagonists.
With the Indian Premier League (IPL) cricket tourney behind them, general entertainment channels are back in business, with as many as seven leading broadcasters having invested around Rs 100 crore in launching over 25 new television shows on the small screen.
Abhilasha Ojha / New Delhi October 25, 2009, 0:40 IST
A moving documentary about a baby with "two faces".
The ongoing attacks on Indian students studying in Australia have received a strong reaction from the Indian film fraternity.
The Delhi High Court today allowed entertainment channel NDTV Imagine to continue its reality TV show "Pati Patni Aur Woh," by staying the National Commission for Protection of Child Rights order to cease telecast.
The ongoing attacks on Indian students studying in Australia have received a strong reaction from the Indian film fraternity.
Linking the Kashmir problem with the Middle East conflict, President Asif Ali Zardari has asked the US to demonstrate "neutrality" and step up efforts to "mediate" on the issue between India and Pakistan.
Oil prices were stable in Asian trade today as dealers weighed recent price falls against a firming US dollar, analysts said.
With just two trading days in the current week and a decision likely on the government borrowing plan for the second half, the yield on government bonds are expected to remain range-bound.
The government"s high borrowings may not push up interest rates sharply towards the end of this year and are likely to hover around the current levels, Prime Minister"s Economic Advisory Council chairman C Rangarajan said.
Swine flu claimed eight more lives across the country raising the total number of deaths to 359 till now.
Consumer durables major LG Electronics today said it will invest Rs 25 crore in promotional activities of its home appliances during the festive season, as it targets a 30 per cent share in the segment by next year.
An acute labour shortage is hurting coffee production in Karnataka, which accounts for around 70 per cent of the country’s coffee output.
The country"s biggest two-wheeler maker Hero Honda Motors Ltd today reported 32 per cent jump in November sales at 3,81,378 units as against 2,89,426 units in the same month last year.
Kishore Singh / New Delhi November 10, 2009, 0:00 IST
The country"s second largest carmaker, Hyundai Motor India, today reported 11.03 per cent growth in sales in October compared to the same period a year earlier, at 51,736 units.
General Motors Co, seeking to shed brands after emerging from bankruptcy, is nearing an agreement to sell its Hummer sport-utility vehicle business to China’s Sichuan Tengzhong Heavy Industrial Machinery Co for about $150 million, said three people familiar with the deal.
US-based car maker General Motors today joined hands with Reva Electric Car Company to develop and produce electric vehicles in the Indian market as part of its plan to make the country a global hub for environment friendly vehicles.
The Andhra Pradesh government has decided to invite fresh global bids for the Rs 12,200 crore Hyderabad Metro Rail Project that was taken away from Maytas Infra after funding related problems.
New government policy on biofuels may consider financial incentives.
Terming as "most immature and irresponsible" the UPA government"s handling of the Telangana problem, BJP today said the Centre "should apply its mind" to solve the problem.
The Centre today sought to downplay the growing momentum for carving out of small states in some regions after the decision on Telangana and said cooperation of (undivided) states and political parties is needed in addressing such demands.
HCL Technologies closed at Rs 355, higher by Rs 6 or 1%, on the BSE. It opened at Rs 350 and touched a high of Rs 357 and a low of Rs 349 during the day. The stock saw trading volumes of 517,850 shares as against the 2-week average of 172,036 shares.
Gammon India, the company in-charge of construction at the metro site where a mishap killed six people, today said it is carrying out the projects as per the highest standards of quality and safety and promised to help the families of the victims.
The stock erased all its losses and rebouned in to the positive in late trades. The stock finally ended at Rs 166, up 3%.
Your holiday in Dubai just got a little cheaper. Thanks to Dubai World’s crash, travel portals and agencies like MakeMyTrip, Yatra, Cleartrip and SOTC are offering packages at prices almost 40 per cent lower than a week or two ago.
Foreign Institutional Investors raised their holdings in as many as 25 Sensex companies in the first quarter of the current fiscal, riding on positive global cues and a decisive verdict in the general elections.
Private sector life insurer DLF Pramerica, promoted by realty firm DLF and US-based Prudential Financial, today said the two shareholders were committed to the venture, repudiating reports that the Indian partner was mulling over a possible exit.
Tata Capital, the non-banking finance arm of Tata Group, today said it expects revival of demand in auto, housing and personal loans from the third quarter and plans to raise Rs 2,100 crore through bond issue by the end of next fiscal.
Andhra Pradesh chief minister K Roasiah said the central and state governments had a task to strike a balance between growth and inflation. The three fiscal stimulus packages announced by the central government infused liquidity for maintaining economic growth.
Telecom services provider Neotel, which is majority owned by Indian conglomerate Tatas, is expanding its network across South Africa.
The Tata Group would be happy to do anything that suited the state of West Bengal or the present government, said Tata Group chairman Ratan Tata , in response to Tata Tea share holders on Singur.
The government will make electronic filing of service tax mandatory within a couple of months, said a senior official of the Central Board of Excise and Customs (CBEC).
The summer internship placements at XLRI School of Business and Human Resources, Jamshedpur, concluded with the entire batch of 240 students of the 2009-2011 batch being placed in reputed Indian and international firms. The presence of some of the biggest names in the various sectors indicated that good times are back, giving XLRI an optimistic outlook for the impending final placements of the batch of 2008-2010.
Low demand due to high prices will make a dent in India"s gold imports this month which will be down to 10-15 tonnes, experts have said.
Brushing aside reports that India is moving away from Russia, President Pratibha Patil has said New Delhi"s ties with other countries would not be at the cost of Moscow.
The government on Tuesday said it would not withdraw the fiscal stimulus, provided in the last one year to help the economy deal with the global slowdown, in the current financial year.
A K Bhattacharya / New Delhi December 2, 2009, 0:09 IST
Shanghai Automotive Industry Corporation Group (SAIC) and General Motors, US, today announced the formation of a 50:50 joint venture exclusively to cater to the Indian market and to South East Asian countries. The new company will be called General Motors SAIC Investment Ltd (GMSIL) and will be based in Hong Kong.
Ahead of the Copenhagen summit on climate change, India today announced that it would reduce carbon emission intensity by 20-25 per cent by 2020 on the 2005 levels through a series of policy measures, including mandatory fuel efficiency standards on all vehicles.
I am buying a German high-end car and have shortlisted the Mercedes-Benz C-Class 200 K, Audi A4 and the BMW 3 Series. I am interested in a petrol car as I believe they are more silent than diesels, also the engine is smoother. Further, the car will be driven about 600 km per month, add two trips a year to Mahabaleshwar and maybe a trip to Mumbai. I live in Pune and am 65. I am looking for comfortable ride quality and easy handling within the city. I have just read that Audi has introduced the A4 in 1.8 — and 2.0-litre petrol versions. Kindly advise me as to which car would be most suitable.
The country’s largest carmaker, Maruti Suzuki India (MSI), today said its exports are expected to achieve the 100,000 units mark in the current financial year (2009-10).
The country"s largest car maker, Maruti Suzuki India Ltd, today reported a 33.36 per cent jump in sales at 78,074 units in July.
Maruti Suzuki India (MSIL) has been allotted 700 acres in IMT Rohtak for setting up a research and development (R&D) facility, test course and accommodation of ancillaries. The state government has already approved allotment of 700 acres; 600 acres for setting up R&D facility and test course and 100 acres for leasing out to MSIL ancillaries.
Maruti Suzuki will expand its passenger vehicle production capacity at Manesar by around 2 lakh units over the next 2 years.
Consumers in India appear to be shifting their focus from camcorders to digital still cameras. Camcorder sales remained flat in 2008, recording single-digit growth rates, according to industry estimates.
Glenmark Pharmaceuticals (Switzerland), a subsidiary of Glenmark Pharmaceuticals India (GPL) said that its molecule under development Oglemilast has failed to yield positive results in clinical trials for Chronic Obstructive Pulmonary Disease (COPD), an acute form of smoking induced lung disease.
IN MY MIND
With Formula One Supremo Bernie Ecclestone giving a categorical assurance that the Indian Grand Prix is very much on, Force India Chairman Vijay Mallya today said the 2011 race would be a huge boost both for motorsports and the outfit he owns.
Vijay Mallya-led Kingfisher Airlines board today approved an enabling resolution to raise $100 million (nearly Rs 487.8 crore) by various fund raising instruments.
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
Apart from the cityscapes, the Commonwealth Games provide the opportunity to improve the mindscapes of the people of Delhi. The Delhi Government has embarked on a civility campaign, Come on Delhi, to make the city a good host for the upcoming event.
The captive power plant of National Aluminium Company (Nalco) in Angul has started regulating power supply to the smelter, located next to it, owing to acute coal crisis.
Barely a day after Force India’s historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government’s refusal to acknowledge Formula One as a sport.
After four days of vehement denial, Force India on Thursday announced that its Italian driver Giancarlo Fisichella is joining Ferrari with immediate effect, while also insisting that there was no financial settlement involved in his move.
Brushing aside government’s stand that Formula One is not a sport, F1 supremo Bernie Ecclestone on Wednesday said the foundation stone of the race track in India would be laid in October for the showpiece event next year. Ecclestone said it’s been long time that they have signed the contract with the promoters in India and there was no question of the event being shelved despite the Indian government’s refusal to give concessions.
Force India will give Karun Chandhok an opportunity to prove his F1 mettle but team owner Vijay Mallya is bemused by the romanticism that the Chennai driver deserves a seat in the outfit just because he is an Indian.
Business Standard / New Delhi January 16, 2010, 0:54 IST
The world"s largest steel maker ArcelorMittal may cut 10,000 jobs globally next year and plans to reduce costs in order to regain its lost market share particularly in Europe, a media report says.
State-run Bharat Sanchar Nigam"s (BSNL) net profit dipped to Rs 104 crore in 2008-09 as staff costs rose and revenues fell in the period, Rajya Sabha was informed today.
State-run Bharat Sanchar Nigam"s (BSNL) net profit dipped to Rs 104 crore in 2008-09 as staff costs rose and revenues fell in the period, Rajya Sabha was informed today.
The government will take stock of Bharat Sanchar Nigam"s (BSNL) poor financial showing - wherein net profit fell to Rs 104 crore in FY09 compared to over Rs 3,000 crore a year ago - and also talk to the management for selling government stake in the telecom company.
Novartis has ended the day at Rs 572, stronger by Rs 14 or 2.6%, on the BSE.
Godrej Properties ended the debut day at Rs 534, which is a premium of 9% to its issue price of Rs 490.
Novartis has ended the day at Rs 572, stronger by Rs 14 or 2.6%, on the BSE.
The Sensex opened marginally in red this moning but rebounded almost immediately on positive global cues.
The Nifty futures moved in a narrow band and closed higher at 5,239 on poor volumes in both cash and derivates segments. The trading volume in Nifty January futures declined to 11.86 million shares from around 42 million shares on the first day of the December series. It is difficult to predict the market movement in the near future due to extremely poor volumes. However, the intra-day trading pattern in Nifty futures and options suggested that traders booked profits while bears built short positions at higher levels.
As gold prices move higher, there is a clear shift in the way consumers buy it. Traditionally, gold-savvy customers used to buy in grammes on various occasions. For investment, too, orders were placed in grammes. Now, as prices move higher, “an interesting trend is that in contrast to the past, consumers now have a ‘rupee budget’, rather than a ‘weight (gramme) budget”, says Rohini Malkani, economist, Citi India.
Jewellery makers and gold retailers are pulling out all the stops to bring back customers. The sharp rise in gold prices has meant dwindling sales and so discount offers have gone through the roof.
The Great Indian Gold Rush, a month-long event organised by the World Gold Council (WGC), has received an overwhelming response despite the sky-high prices of the precious metal.
Over 175 exhibitors from India and abroad are expected to showcase their designs and products at the second edition of the Kerala Gem and Jewellery Show, which begins here from November 21.
On saturday, gold prices hit yet another high. Should you invest or book profits?
Demand for gold waned by 49 per cent in the third quarter this year over the corresponding period last year, thanks to a surge in its prices, the World Gold Council (WGC) said today.
Foreign institutional investors (FIIs) were net buyers of Rs 366.81 crore (provisional) today, according to data released by BSE.
The scrip gave up mostly all its gains and finally settled flat at Rs 422, up 0.5% from the previous close. The counter clocked volumes of 1.19 million shares as compared to 910,991 shares traded on the BSE.
The Sensex opened at 17,204 owing to negative global cues. The disappointing economic numbers from Japan had a negative impact on the Indian bourses. The index tried to recover but could only manage to rebound in green for a brief while. The benchmark index then slipped to a low of 17,057 following profit booking in the banking and metal stocks.
The Centre plans to induct Kerala in the list of ‘special status’ states, which are given relaxation in their requirement for areas for special economic zones (SEZ). This is in response to a state government’s request to the Ministry of Commerce and Industry for the relaxation in an effort to promote exports and generate employment.
The Sensex is at its day"s low of 14,999 - down 411 points. The Nifty is down 129 points at 4,459.
Luxury hotel chain operator Orient Express, in which Indian conglomerate Tata Group holds a significant stake, has reported a net loss of $24.3 million for the second quarter ended June 30, 2009.
Mahanadi Coalfields Limited (MCL) organized an awareness camp at its headquarters at Burla near Sambalpur in association with the Young Men Christians" Association (YMCA) on the occasion of the World AIDS Day. Free comdoms and pamphlets on HIV/AIDS were distributed to the truck drivers on the occasion.
The miming operations at the mega Bhubaneswari open cast coal project of Mahanadi Coalfields Limited (MCL) may come to a grinding halt unless the villagers of Jilinda provide the land as per the agreement.
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
Vishesh Chandiok, the national managing partner of Grant Thornton India, now spends a lot of time while signing on new clients. He runs thorough background checks on any new company that comes to him – is the management too aggressive, what is its attitude towards financial reporting? Even old clients who want to renew the contract are put through the tests. “In the last one year, we have dropped 15 clients,” says Chandiok. “Some of them for this reason.”
The European Commission (EC) has objected to Oracle Corp"s proposed $7.4 billion acquisition of Sun Microsystems, saying that the deal could threat competition in the market.
Normal life was paralysed across the Kashmir Valley today due to a strike called by a local outfit to protest the CBI report in the Shopian case even as authorities placed top Hurriyat leaders under house arrest as a precautionary measure.
A Union finance ministry notification has extended the basic customs duty concession applicable on equipment for entirely new (‘greenfield’) power projects to expansion (‘brownfield’) of existing units, too.
The white paper (official position statement) on organisational, operational and financial performance of the railways, presented in Parliament today, busted former railway minister Lalu Prasad’s claims of raking in record profits during his 2004-09 stint.
Ahmedabad-based Adani Group is looking at increasing the area of its multi-product SEZ at Mundra in Kutch.
Facing complaints from container operators, Indian Railways has decided to come up with a time table, the first of its kind, for freight trains, giving an assured transit time.
In yet another twist to the issue at Singur—the erstwhile Tata-Nano project site— the West Bengal government has written to the Railway Board, seeking a formal proposal for the rail coach factory on the site, mooted by Trinamool Congress leader and Railways Minister Mamata Banerjee.
As many as nine transactions, including Pfizer"s takeover of Wyeth Corp and Merck & Co"s buying of Schering-Plough Corp, are under investigation by the US regulator Securities and Exchange Commission (SEC) for possible insider-trading violations, says a media report.
Ethanol producers are cheering the government’s decision to raise the price of ethanol to Rs 27 a litre, as the decision may fetch long-term profits. Sugar companies, the main producers of ethanol, a by-product, have been selling it at Rs 21.50a litre.
Around 67 per cent of these funds have beaten debt funds and gold over 10 years
Both Nifty and Sensex on Thursday closed in the red on profit-booking and weak global markets. Automobiles, information technology, realty, healthcare and FMCG (fast moving consumer goods) stocks led the fall. The Nifty, as expected, moved in a narrow range, faced resistance above 5,300, and closed at 5,263, down 19 points.
Realty major DLF has decided to bring all of its rental properties under a single umbrella, as part of business restructuring, to optimise the value of its various realty verticals.
Anticipating an adverse impact of the new Direct Tax Code, life insurance companies have demand amendments in the proposed code. The draft code had recommended a maturity tax on all life insurance products, if the term was less than 20 years and the premium exceeded 5 per cent of the sum assured.
The market is in a short-term downtrend and should find support between 5,000 and 5,050.
IndiaFirst Life Insurance has received regulatory approval to launch three products and expects to commence its operations by the month-end, a senior official said.
India’s life insurance sector is expected to grow by almost 15 per cent in the current financial year and touch a total premium income of Rs 2,55,000 crore (about $ 50 billion).
The promoters of Aegon Religare Life Insurance today infused fresh capital of Rs 70 crore into the company taking the total base to Rs 465 crore.
Shobhana Subramanian / Mumbai December 4, 2009, 0:53 IST
Kotak Mahindra Bank has won a cybersquatting case at the World Intellectual Property Organisation (WIPO) against a South Korea-based person, who was using the name "Kotak" in an internet domain.
Betting big on the Indian market US-based sugar-free sweetener maker Merisant Inc, which sells its product under the brand "Equal" is planning to introduce three more flavours within the next one year, besides, increasing presence in Tier II cities and rural markets.
Casual dining chain Pizza Hut is planning to extend its ‘Enhanced Dine-in’ brand transformation concept to almost a third of its 147 stores across India by next month.
The stock jumped 8.4 per cent to Rs 377.30, a 52-week high, after the foreign institutional investor (FII) — Capital International A/c Emerging Markets Growth Fund Inc bought 1.09 million equity shares at a price of Rs 374.18 per share through block deal on the National Stock Exchange.
Corporate Affairs Minister Salman Khurshid today opined that India Inc should focus on CSR activities in their own interest.
Four new cases of swine flu were reported in Canada, bringing the total number of people infected with the virus nationally to 285.
Business Standard / New Delhi December 10, 2009, 0:42 IST
Government hopes to surpass last year"s all-time high production of 80.58 million tonnes of wheat, Agriculture Minister Sharad Pawar told the Rajya Sabha today and described as manageable the current food security situation in the country.
The stock gained 4.7 per cent to close at Rs 83.05 after the company’s German unit REpower got an order to deliver 70 wind turbines to US-based enXco.
The government today approved road projects worth Rs 6,152 crore in five states for upgrading nearly 562 km of four-lane highways into six lanes.
Move aimed at expediting projects undertaken in collaboration with foreign technology providers
India"s sugarcane production is projected to fall short of the demand by 17 million tonnes(MT) at the end of this Plan period (2007-2012) from a surplus supply of 14 MT now, as per the Planning Commission.
Reebok has gotten bold. Last month, the company introduced its EasyTone footwear for women, which are meant to tone the leg and butt muscles. According to the company, its lab tests confirmed an increase in muscle activation due to the miniature balance balls underneath the shoe.
Cricket fans were not the only ones left disappointed by the cancellation of the India-Australia one-day international (ODI) match today that was to be played at the DY Patil Stadium in Navi Mumbai. Public sector insurer Oriental Insurance will have to pick up the tab for claims worth Rs 6.75 crore.
I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete?
The Securities and Exchange Board of India’s (Sebi’s) move to ban entry load on mutual funds (MFs), in spite of being an investor-friendly step, has created a problem for smaller investors.
The market turned weak on the cusp of settlement and made a partial recovery in the first session of the December settlement. The Nifty ended with a net week-on-week loss of 2.2 per cent, closing at 4,941.75 points while the Sensex was down 2.3 per cent at 16,632 points. The Defty lost 2.5 percent with the rupee losing ground.
Stock markets skidded today, commodity prices took a beating, Kerala panicked and even Bollywood worried as Dubai’s $60-billion debt woes sparked fears over corporate and bank exposure to the crisis. Indian companies and banks played down the impact, saying the exposure was not significant.
Exporters, hit by a demand slump in the global market, have sought RBI"s intervention for dollar credit from banks at competitive rates.
Amid speculations, that the Reserve Bank of India (RBI) may buy more gold from the IMF, the Prime minister’s Economic Advisory Committee (PMEAC) has said the central bank should wait for some more time before going for another round of purchases.
Taking its “In India, for India” initiative further, GE Healthcare today launched MACi, a low-cost portable ECG device.
Amidst sugar prices touching Rs 44 a kg in the retail market, the government today said it is keeping a watch on the prices.
Commodity exchange ICEX made a business of Rs 2,559 crore in just four days after it went live on November 27, the market regulator Forward Markets Commission (FMC) said today.
Encouraged by the outcome of earlier initiatives, the Centre is preparing a roadmap to take the disinvestment process forward over the next two years.
India’s nuclear power generator, Nuclear Power Corporation (NPCIL) has projected an investment of Rs 1 lakh crore for nuclear capacity addition of 10,000 Mw by 2020. The cumulative funding for these projects would be on a 70:30 debt equity ratio.
The Nifty has a strong support at the 5,000 mark.
The Cabinet is likely to consider tomorrow granting the coveted "Maharatna" status to select profit-making Central Public Sector Enterprises (CPSEs), including ONGC, SAIL, BSNL, NTPC and CIL, that will offer them greater functional autonomy.
Tighter norms, better economy reduce credit card non-performing assets.
Citibank India today said it has launched a new rewards platform-CitiRewards, targeting customers who hold Citi-branded credit cards.
The Visakhapatnam zone of Andhra Bank is targeting to end the current financial year with a total business of Rs 3,600 crore.
Barclays today appointed Suvrat Saigal as Consumer Banking Director, Global retail and commercial banking (GRCB) India.
Anil Ambani-led Reliance Natural Resources (RNRL) today accused Reliance Industries (RIL) in the Supreme Court of unilaterally inserting provisions in the agreement for gas supply, saying it went against the family MoU of 2005 providing for fixed quantity of gas from the KG Basin for 17 years.
Sreelatha Menon / New Delhi November 15, 2009, 0:36 IST
Mahindra & Mahindra gave all its gains and slipped to a low of Rs 813. The scrip finally settled flat at Rs 820. The counter clocked volumes of 239,425 shares as compared to the two-week daily average traded volumes of 277,548 shares.
To meet concerns that hybrid debt failed to absorb losses.
Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc will receive 31.3 billion pounds ($51 billion) in a second bailout from the UK taxpayer as the two banks agreed to cap bonuses.
Jharkhand chief minister Shibu Soren has assured Bokaro Steel Plant (BSP) managing director V K Srivastava that SAIL’s needs would be met by Chiria mines.
The industrial sector in Chhattisgarh government termed 2009 as good while the investors said it was bad.
State Bank of Mysore has extended its two 8 per cent home loan schemes till March 31, but has begun levying processing charges from this month, a source in the bank’s personal and services banking department said. The schemes were set to expire on November 30.