Business Opportunities
Derivatives expiry, higher food inflation and lower earnings also weigh on indices.
Markets have extended gains. The Sensex has touched a high of 17,531 and is now up 181 points at 17,524.
A cartoon in a Delhi newspaper, which allegedly depicted a Victoria policeman as a member of hate group Ku Klux Klan in the wake of attacks on Indians, has sparked an outrage in Australia with acting Prime Minister Julia Gillard condemning it as "deeply offensive".
Sun TV erased all its gains and finally ended in the negative terrain at Rs 333. The counter clocked volumes of 6,969 shares as compared to the two-week daily average traded volumes of 18,919 shares on the BSE
Private sector insurer Aviva Life Insurance today announced a nation-wide strategic partnership with India Post, which will help it collect its premium through post offices.
The 60s are the new 40s. You can stay fit even after crossing six decades of your life by following a routine of exercise, morning walks and eating healthy. Still, at this juncture of life, the fear of failing health persists. And many a time, such fears come true. To overcome such a situation, the solution is health insurance. Medical insurance enables senior citizens to pay for health checkups, emergency medical costs and long-term treatment. It is provided through several private insurance companies and public sector general insurance companies.
Greenpeace, the ecology campaigners, have okayed Pepsico, ITC, MTR, Dabur and Haldiram. But given a thumbs-down to Britannia, Cadbury, Hindustan Unilever, Nestle, Kellogg and Safal.
May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
State-run Coal India is eyeing strategic partnership with mining behemoths like BHP Billiton and Rio Tinto to mine coal abroad and has floated an Expression of Interest (EoI) for the same.
The stock soared to a high of Rs 136 and finally ended at Rs 134, up 4% from its previous close. The counter clocked volumes of 1.75 million shares as compared to the two-week daily average traded volumes of 466,405 shares on the BSE. ______________________________________________________
India"s retail industry boom gave way to despair in 2009 as consumers held back big spending, forcing some companies to restructure finances, while recession-battered western retail chains would have felt glad they were not allowed to set shop.
Future Group, the company that promotes India’s largest publicly-traded retailer, Pantaloon, is planning a joint venture company by bringing together Future Money, its consumer finance business; Future Generali, its insurance business; and Centrum Direct, the foreign exchange service provider. The JV, under a single management, will provide its service through the stores of Pantaloon Retail.
The stock gained 10 per cent at Rs 233.05, has frozen the upper limit of circuit filter on reports that the government is considering divesting its stake in copper producer. The Government of India holds a sizable 99.59 per cent stake in the company.
Sical Logistics, has reported a net profit of Rs 3.47 crore for the quarter ended September 30, 2009 as compared to Rs 1.59 crore,a year ago. Company"s total income rose to Rs 127.17 crore from Rs 123.08 crore, an increase of around three per cent.
Copper manufacturer Hindustan Copper Ltd has said the unaudited financial results for the first quarter of 2009-10 would be delayed, and is likely to be published by August end because of technical problems in the newly installed software for enterprise resource planning (ERP) system.
Many players have talent matching Sachin’s, but perish early.
Power, tourism, transport, education, expressways and sugar on priority list.
Bank of America Corp and JPMorgan Chase & Co, the two biggest US banks by deposits, are cutting overdraft fees amid criticism from lawmakers over the way the lenders charge customers.
Infrastructure player C&C Constructions today said it has cleared the technical qualification round for building several highway projects worth around Rs 20,000 crore in the country.
Indian healthcare providers have not fully explored the opportunities in indigenisation of medical equipment and textiles, training of medical and paramedical staff and treatment of out-patients among others.
Hospital chain Fortis Healthcare today said it has got approval from the regulatory body Sebi for its Rs 997-crore rights issue for funding some of its expansion projects and its recent acquisition of Workhardt Hospitals.
Opto Circuits (India) Ltd. (OCI), a manufacturer of invasive and non-invasive medical devices, today announced that Criticare Systems Inc, its wholly owned subsidiary, has signed a long-term development agreement with an OEM customer. The agreement provides for a joint development programme focused on a new modular and MRI-compatible patient monitoring system.
Opto Circuits (India) Ltd. (OCI), a manufacturer of invasive and non-invasive medical devices, today announced that Criticare Systems Inc, its wholly owned subsidiary, has signed a long-term development agreement with an OEM customer. The agreement provides for a joint development programme focused on a new modular and MRI-compatible patient monitoring system.
The Indian Space Research Organisation (ISRO) plans to send miniaturised payloads aboard the Chandrayaan-II satellite, in line with the international standards, though the weight of the satellite is expected to be about double that of Chandrayaan-I. The second moon mission by India aims to have fewer scientific instruments than the ones on Chandrayaan-I spacecraft.
Zydus Cadila group"s Zydus Infrastructure is planning to create a knowledge park in Ahmedabad in a sprawling 500 hectares area. The park, which is a concept to bring together various academic institutions under one roof, will also see many foreign universities extend their presence.
Wiser from last year"s free-fall, realty firms discovered a new mantra in "affordable housing" and found help from banks who offered low interest home loans to build their businesses in 2009.
FMCG major Godrej Consumer Products today said the Bombay High Court has given its approval for the merger of the company"s two group firms — Godrej ConsumerBiz and Godrej Hygiene Care — with itself.
The Asian markets have closed negative. The Hang Seng slipped 136 points to 21,479 and the Nikkei dropped 127 points or 1% to 9,717.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
The stock slipped to a low of Rs 478 and finally settled at Rs 483, down around 4% from the previous close. The counter clocked volumes of 3.17 million shares as compared to the two-week daily average traded volumes of 1.81 million shares on the BSE.
Jet Airways surged further and zoomed to a high of Rs 412, up 25% from the day"s low. The scrip finally settled at Rs 398, up 9% from the previous close. The counter clcoked volumes of 1.28 million shares as compared to the two-week daily average traded volumes of 572,048 shares on the BSE.
After a massive 387 points fall on the Sensex yesterday. The index today opened on a weak note at 16,699 owing to negative cues from the global markets. The index then started slipping further into the red and is now at 16,229, down 123 points.
Decides to provide extra helping hand after a sectoral review
US markets slipped at the end of the week as worries about the economic recovery loomed once again.
The Sensex finally ended (provisional) at 17,032, up 247 points. The NSE Nifty ended (provisional) at 5,060, up 71 points.
The Sensex after rebounding into positive zone has surged singificantly mainly on account of fresh buying in index heavyweights. The index has now re-gained the 17,000-mark, and is now up 224 points at 17,010.
The markets continue to trade in the negative on the back of weakness in realty, metals and IT pack.
The Sensex after rebounding into positive zone has surged singificantly mainly on account of fresh buying in index heavyweights. The index has now re-gained the 17,000-mark, and is now up 224 points at 17,010.
The Sensex after rebounding into positive zone has surged singificantly mainly on account of fresh buying in index heavyweights. The index has now re-gained the 17,000-mark, and is now up 224 points at 17,010.
The markets have recouped most of their losses and are now trading flat. The oil, pharma and FMCG stocks are seeing buying interest.
Though the Nifty closed slightly below 5,000 today, the trading volume in the put and call options suggests that bulls will find it difficult to hold on to this level.
Ahmedabad-based Intas Pharmaceuticals Ltd (Intas) has entered into a strategic partnership with US biotechnology company Amarillo Biosciences, Inc (ABI), whereby Intas will sponsor clinical trials of ABI’s orally administered interferon-alpha lozenges for influenza, which could also be used in combating the H1N1 virus.
The Shipping Minister said today that the ministry is taking all possible measures to encourage private sector investment in the shipping sector as major ports alone require over Rs 36,000 crore private investment by March 2012.
While closing his arguments before the Supreme Court Bench in the Reliance Industries versus Reliance Natural Resources (RIL-RNRL) case, RNRL lawyer Ram Jethmalani said, “I won’t trouble you (the Bench) tomorrow…I could have said a lot. But I am tired myself”.
The Uttarakhand government has told a high-powered committee that four cumax of water flow would be sufficient to maintain perennial flow of the Bhagirathi in Uttarkhand where three key hydropower projects have been suspended on environmental and religious grounds.
Kingfisher Airlines is planning to raise around $600 million worth of funds in the current financial year to pay off its debt and strengthen its bottom line, in the backdrop of a turbulent time for the country’s aviation industry.
Business Standard / New Delhi December 21, 2009, 0:38 IST
Nandan M Nilekani, who was appointed as head of Unique Identification Authority of India(UIAI), today said the government would take steps to end ID card duplication leading to fraud and create a network of verification and authentication.
Home Minister P Chidambaram today said the government was ready to hold talks with ULFA and asserted that dignity of the leaders of the banned outfit will be maintained when the peace dialogue happens.
Snapping its two-day losing string, the Bombay Stock Exchange (BSE) Sensex today surged over 240 points on the back of a good show by European markets and realty and metal stocks.
Sunil Jain / New Delhi November 16, 2009, 0:07 IST
Banks and co-operatives have disbursed farm loans to the tune of Rs 1.38 lakh crore in the first half of 2009-10, meeting over 42 per cent of the target set by the government for the whole financial year.
Leading home loans lender HDFC expects its credit growth to exceed 20 per cent in the current fiscal, a top company official said.
The Nifty futures faced resistance at 5,060 and closed in a Doji pattern, indicating indecisiveness among traders. The trading volume on the futures & options segment suggests the index is set for an either side breakout in the coming days. The Nifty is expected to face strong resistance above 5,100 and support for the time being is seen at 4,800-4,900.
Enquiry into the helicopter crash in which Andhra Pradesh Chief Minister Y S Rajashekhara Reddy was killed will be completed by this month end, Civil Aviation Minister Praful Patel informed the Lok Sabha today.
B-Trac 2010 Bangalore, a project to address issues of traffic congestion and safety by using latest traffic management technology, will become operational by March 2010, a top police official said.
ONGC Videsh, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), may pick up a stake in the $1.95 billion gas pipeline that China is building for ferrying natural gas found off the Myanmar coast.
Sun Pharmaceutical Industries, India’s largest drug firm in terms of market capitalisation, posted a 11.49 dip in net profit during the quarter ended September 30, compared with the same period last year, due to regulatory issues and the resultant loss of revenue for its US subsidiary, Caraco Pharmaceuticals.
The world"s largest car maker, Toyota, today unveiled concept small car -- Etios -- which has been specifically developed for the Indian market.
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Sun Pharmaceutical Industries has settled a patent dispute with MedImmune, a unit of drug major Astra Zeneca, to dismiss an ongoing litigation in a US District Court. This was on patent rights of Ethyol (amifostine), a drug used to reduce toxicities associated with chemotherapy and radiation in head and neck cancers.
Indian drug companies Wockhardt and Sun Pharmaceutical Industries have received final approval from the United States Food and Drug Administration (USFDA) to market generic versions of Nicardipine, the hypertension drug.
For the second time in last one year, the government is likely to inspect financial books of Uttam Galva Steels for alleged manipulation of share prices, funds diversions and some other related matters.
Farm equipment and utility vehicle maker Mahindra & Mahindra (M&M) today said its joint venture with China"s Yueda Group will invest around $40 million (Rs 188 crore) in China to set up a new R&D centre, engine plant and in modernising its tractor unit at Yancheng.
The stock has ended at Rs 1,220, up 1% from its previous close. The counter witnessed trades of 108,641 shares as compared to the two-week daily average traded volumes of 59,413 shares on the BSE.
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. _________________________________________
Aurobindo Pharma, a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), has received final approval for Zidovudine tablets in 60mg strength and tentative approval for Lamivudine tablets in 30mg – indicated for the treatment of HIV-I infection in combination with other anti-retrovirals (ARVs) – from the US Food and Drug Administration (USFDA).
Bangalore-based Life sciences firm ReaMetrix today said it is looking for strategic tie-ups with global players for marketing and distribution of its new product, used for diagnosing HIV.
Sun Pharmaceutical Industries and its subsidiary, Caraco Pharmaceutical Laboratories, have reached a settlement agreement with drugmaker Forest Laboratories and licensing partner H Lundbeck AS, over a pending patent infringement dispute over Forest’s blockbuster antidepressant, Lexapro.
Sun Pharmaceutical Industries announced that USFDA has granted its subsidiary an approval for an Abbreviated New Drug Application (ANDA) for generic Casodex Bicalutamide tablets.
Indian drug firm Sun Pharma may have to shell out up to Rs 1,000 crore this fiscal for acquiring Israel-based Taro Pharmaceuticals.
Second-largest shareholder Templeton seeks management change, to vote against directors.
A K Bhattacharya / New Delhi December 2, 2009, 0:09 IST
The country’s largest liquefied natural gas (LNG) importer, Petronet LNG, said On Saturday that its net profit rose by 16.74 per cent to Rs 120.67 crore for the second quarter ended September 30, 2009, over the same period last year. Total income of the company surged over two-fold to Rs 3,425.73 crore in the latest quarter, against Rs 1,672.69 crore in the same period of the corresponding financial year, Petronet LNG said in a filing to the Bombay Stock Exchange (BSE). Shares of Petronet LNG closed at Rs 72.20 on the BSE yesterday, up 0.21 per cent from its previous day’s close.
The stock markets ended the holiday-shortened week with a huge gain of 2.5%. The Sensex soared past 17,000 for the first time since May, 2008.
Sensex ends up 35pts
Bharti Airtel today announced offering both local and STD calls at a flat rate of 50 paisa per minute to its 110 million subscribers.
Promoters of around 200 large- and mid-cap companies have sold parts of their holdings to raise a combined Rs 50,000 crore in the second quarter of this financial year (July-September), according to the shareholding pattern filed by these companies with stock exchanges.
Wants to expand within the country and outside, while Star Aviation, yet to begin operations, has three aircraft ready
While quite a few people are starting to imbibe wine in India, not too many really know how wine is made, or what constitutes “good” wine. Since I’ve been carrying on about the stuff for some time now, it’s high time I delved into the subject, on the principle that to appreciate anything one needs to understand it a little.
The Andhra Pradesh government, which won four oil blocks in the VIII round of the New Exploration Licensing Policy (Nelp) bidding on Monday, will invest about Rs 160 crore in oil and natural gas related activities over the next five years.
Nagarjuna Agrichem Limited (NACL) is setting up a greenfield manufacturing facility with an outlay of about Rs 150 crore in the special economic zone at Achutapuram, about 40 km from Visakhapatnam, within the Petroleum, Chemicals and Petrochemical Investment Region.
Oil fell in Asian trade today on profit-taking after overnight gains driven by hopes for improved demand as the global economy recovers, analysts said.
The sale of paints and colouring items for households is witnessing almost 25 per cent fall compared with last year despite the ongoing festive season.
Oil prices rose above $72 a barrel today in Asia as investors looked to a slew of US corporate earnings reports this week for signs of economic recovery.
Oil prices rose above $72 a barrel today in Asia as investors looked to a slew of US corporate earnings reports this week for signs of economic recovery.
Oil rebounded in Asian trade today, lifted by strong regional stocks, which rallied after US aluminium giant Alcoa said it swung to profit in the third quarter.
Farmax Retail (India) today said its board has approved to raise funds up to Rs 500 crore through various routes including issue of foreign currency convertible bonds (FCCBs) and global depository receipts (GDRs).
IRB Infrastructure Developers is all set to raise further funds to the tune of Rs 1,200 crore through various instruments.
Steel products maker Adhunik Metaliks today said it will raise over Rs 137.13 crore by issuing around 1.39 crore shares to qualified institutional buyers (QIB).
As many as seven of the top-10 firms added more than Rs 81,000 crore to their market capitalisation during the week, while three state-run companies -- NMDC, NTPC and ONGC -- saw erosion in their valuation.
As many as six among the top 10 firms added over Rs 28,415 crore to their market capitalisation in the past week, while companies like NTPC, NMDC and IT bellwether Infosys Technologies saw their valuations dipping.
The original drummer of the iconic ‘60s band, Pete Best performed in Delhi and spoke about his past, present and the future.
American researchers claim to have proved that regular practise of meditation twice a day can significantly reduce chances of death in heart patients.
As many as six among the top 10 firms added over Rs 28,415 crore to their market capitalisation in the past week, while companies like NTPC, NMDC and IT bellwether Infosys Technologies saw their valuations dipping.
The country"s top-10 firms added over Rs 39,000 crore to their market capitalisation last week, with Oil and Natural Gas Corporation (ONGC) gaining the most.
Reliance Industries has threatened to stop oil and gas exploration if it is not granted the promised drilling moratorium to cover for the acute shortage of rigs.
Drawing a poor response, India"s largest oil and gas licensing round saw a total of 76 bids being received for 36 out of 70 blocks on offer.
The Prime Minister"s Office (PMO) is believed to have asked for urgent comments from the Petroleum Ministry, which has been accused by industrialist Anil Ambani of siding with Mukesh-led Reliance Industries (RIL) in an ongoing gas dispute.
Many private equity companies are interested in acquiring the management of Bank of America Merrill Lynch"s Asian real-estate investment business, a media report said.
Hit by volatile crude oil prices, Oil and Natural Gas Corporation (ONGC), the country’s largest oil exploration and production company, today reported a 26.94 per cent dip in its net profit for the quarter ended June 30. Net profit for the quarter was Rs 4,848 crore as against Rs 6,636 crore last year. The company’s turnover during the quarter slipped 25.84 per cent to Rs 14,922 crore.
State-run Oil and Natural Gas Corporation"s deep-sea project in Brazil has begun crude oil production and output is projected to touch 1,00,000 barrels a day soon.
Country"s biggest GSM mobile company Bharti Airtel and South African MTN today apprised the Telecom Ministry of their proposed $23-billion deal that could create one of the top three wireless companies in the world.
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.
Subir Roy / New Delhi January 6, 2010, 0:11 IST
The Tamil Nadu Housing Board (TNHB) is planning to carry out projects worth Rs 1,459 crore in 2009-10. The state-run agency, which is promoting affordable housing and commercial properties, is also looking at developing some of its properties through public private partnership.
The Association of Unified Telecom Service Providers of India (AUSPI), the CDMA operators group, today hit out at Bharti Airtel saying contrary to the allegation of predatory pricing, it is the large incumbent operators who are driving away the smaller players.
No terrorist atrocity in India has produced as much distorted reportage as Mumbai 26/11. The ill-equipped and untrained city police got all the blame, while journalists failed to ask even basic questions. Why, for instance, did the Indian Army and the Navy commandos refuse to fight the Pakistani jihadis inside the Oberoi hotel?
Meghnad Desai admits in the preface that it is an ambitious book. Written by “someone who cannot claim to be a professional historian”, the book is the author’s own and “somewhat opinionated” account of how India became a nation. In the process, it outlines a new premise based on which Indians should “rediscover” the new India.
Flow of personal loans declines 0.1 per cent in the year to October 2009.
Former Maharashtra Deputy Chief Minister Gopinath Munde was today made Deputy Leader of the BJP in Lok Sabha in place of Sushma Swaraj who has been elevated as Leader of the Opposition.
Sunanda K Datta-Ray / New Delhi August 15, 2009, 0:51 IST
Passing by the florist’s yesterday, I had to restrain myself from buying tuberoses — not for decoration, but for consumption. Tucked away among the many treasures in the Virago Book of Food is this gem, marrying the domestic art of flower arrangement with an opulent exoticism: “Put an ounce of tuberoses in a vase, having removed the leaves of the plant. Pour six quarts of (lukewarm) water on top, in which you have already dissolved 12 ounces of sugar…” and so on, until you have made tuberose ices.
The young ruled in the Indian cyberspace in 2009 with Rahul Gandhi emerging as the most popular politician and Bollywood star Katrina Kaif the most popular celebrity, according to a Google India survey.
Bank of Baroda (BoB), Andhra Bank and Legal & General’s insurance joint Venture, IndiaFirst Life Insurance Co, has received all regulatory approvals for its products, and would launch operations in the second or third week of December, P Nandagopal, chief executive officer, IndiaFirst Life Insurance, said.
Mysoreans will have the opportunity of witnessing for the first time thrilling aerobatic demonstration by the renowned Suryakiran team of the Indian Air Force (IAF) during this Dasara.
Bank employees’ unions have rejected the proposal during the current round of wage negotiations.
The Rs 1,12,000 crore domestic gems and jewellery industry has urged the government to modify tax deduction at source (TDS) structure suitably in the proposed Direct Tax Code (DTC).
Air India has convened a meeting of foreign pilots" recruitment agencies on Wednesday to discuss its proposal to slash wages by 10 per cent, in its bid to reduce costs and the differences between the pay packets of Indian and foreign pilots.
Shares of Satyam Computer (now Mahindra Satyam) today plunged over 13 per cent on the Bombay Stock Exchange after the CBI said that the loss suffered by investors in the Satyam scam may stretch to a staggering Rs 14,000 crore, nearly double of what it was estimated to be earlier.
Union Minister for Corporate Affairs Salman Khurshid has asked the industry to propose a corporate social responsibility (CSR) system that rewards the industry.
With the industry gradually emerging from recession, business hotels are hoping to ring in the good times with more travellers demanding "smart hotels" with prompt service and good communication systems sans the luxury frills.
Wind turbines manufacturer Suzlon Energy today said it has bagged an order from conglomerate ITC for supplying 27 MW of wind power turbines to projects in Karnataka and Maharashtra for an undisclosed amount.
Homegrown FMCG major Dabur India is keen on penetrating deeper into the hinterland of Uttar Pradesh to market its products.
Taking a serious note of Union Bank of India (UBI) not reporting high-value transactions to it, the government has asked the state-owned bank to immediately carry out an audit of all its branches to check for such large deposits that have gone unreported.
The Sensex is now trading at 17,002, weaker by 48 points and the Nifty is at 5,053, lower by 9 points.
Country’s largest direct selling FMCG company Amway India is eyeing revenues of Rs 1,400 crore in this fiscal, up from Rs 1,130 crore last year.
FMCG firm Dabur India today reported a 30.7 per cent jump in consolidated net profit during the second quarter ended September to Rs 140.34 crore compared with Rs 107.41 crore in the corresponding period last year, driven by strong volume growth across key categories. Revenue was at Rs 855.06 crore compared with Rs 698.45 crore in the corresponding period last year, up 22.4 per cent, the company said in a statement.
Offers, high ones, are coming in before placements officially start.
Google India Managing Director Shailesh Rao has been appointed as Chairman of industry body The Internet and Mobile Association of India (IAMAI).
The government today said no headway has been made regarding the disinvestment of state-run power equipment maker Bharat Heavy Electricals Ltd (BHEL).
Vijay Kelkar, chairman of the thirteenth finance commission, has called for a “much stronger” disinvestment process of public sector companies, saying the money raised should be used to take care of environment degradation.
The Planning Commission today expressed optimism that economic growth during the current year will exceed 7 per cent, up from 6.7 per cent recorded during 2008-09.
Defending the Bus Rapid Transit (BRT) system, government today said it will be implemented in nine more cities.
The Delhi High Court has rejected a claim of exclusivity by global alcoholic giant Pernod Ricard over usage of the word "Imperial", thus allowing other liquor makers to use it in their respective brands.
India’s commodity futures turnover from four national exchanges and 18 regional ones during the December 1-15 period stood at Rs 4.44 lakh crore, up 131 per cent from the same period a year ago, said an official with the Forward Markets Commission (FMC).
Commercial vechicle manufacturer Ashok Leyland (AL) expects its overall sales to drop by 3-5 per cent in the second half of the year, in case the poor monsoons this year hits the economy hard. The company, at the same time, is bullish on its bus segment on the back of the impetus provided by the Jawaharlal Nehru National Urban Renewal Mission(JNNURM) order book.
Only Sri Lanka, Indonesia and Brazil better Sensex returns.
Commerce and Industry Minister Anand Sharma will meet US Trade Representative Ron Kirk and other ministers from both developed and developing countries during the three-day Cairn"s Group meeting in Bali, beginning Sunday.
The tri-nation cricket tournament in Colombo, involving India, Sri Lanka and New Zealand, ended a few days back. But for brand Compaq, it’s the start of a new innings – something it wants to repeat every year.
Despite the economic recovery, the government"s direct tax collections increased by a marginal 3.7 per cent to Rs 1.83 lakh in the first eight months of this fiscal compared to the same period a year ago.
Abhineet Kumar / Mumbai December 24, 2009, 0:03 IST
The Dubai crisis could have major ramifications similar to the global credit turmoil last year.
Emerging-market stock funds lost $1.87 billion in the week ended June 24, the first week of net outflows since early March, on concern that a rebound in exports will be delayed, EPFR Global said.
Global mergers and acquisitions (M&A) are projected to fall 56 per cent in 2009 compared to last year, mainly on account of sharp declines in such activities in rich and emerging markets including India.
JSW Energy will open its Initial Public Offer (IPO) on December 7, to raise Rs 2,700 crore. The issue will close on December 10.
Agro-chemical and pharma company Astec LifeSciences today said that it has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band.
About 50 employees are being interrogated.
About 20 million mobile phones without International Mobile Equipment Identity (IMEI) will be non-functional from tomorrow as the government’s deadline to ban mobile handsets without the unique identification number came to an end today.
Finance Minister Pranab Mukherjee will meet Sri Lankan President Mahinda Rajapaksa over lunch on Sunday to deliver a message of a worried United Progressive Alliance (UPA) government to address the rehabilitation issue more effectively and expedite the long-pending devolution of power for the Tamils.
Bank employees owing allegiance to four Left-leaning unions today went on a strike protesting the proposed merger of the State Bank of Indore with parent SBI, disrupting normal banking operations in the country, a top union official said.
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
TDP members today vociferously opposed the creation of Telangana leading to a brief disruption of the Question Hour in the Lok Sabha.
Enthused by robust performance of the economy in the second half of 2009-10, Finance Minister Pranab Mukherjee today said fiscal deficit would not exceed the target of 6.8 per cent of the gross domestic product (GDP).
Soft drinks and snacks major PepsiCo India today said it may use Stevia as an alternative sweetener if the Government permits it do so.
Markets open strong; Tata Steel up 2%
Exclusive talks between Essar Oil and Royal Dutch Shell over the sale of three European refineries — Heide and Harburg in Germany and Stanlow in Britain — will continue for an unspecified period beyond today’s earlier deadline, Essar Oil said in an emailed statement.