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The Dubai crisis could have major ramifications similar to the global credit turmoil last year.
To safeguard the interest of policyholders and ensure transparency, the sectoral regulator the Insurance Regulatory and Development Authority (Irda) today came out with public disclosures norms for insurers and has asked them to follow it from the next fiscal.
The high level coordination committee (HLCC) on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.
Higher prices of staple vegetables such as onion and potato pushed food inflation higher to 13.68 per cent in the last week of October.
Sun Pharma ended at its intra-day high of Rs 1542, stronger by Rs 38 or 2.5% 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. _________________________________________
I’m considering buying a hatchback for local commutes for my children. My requirement is for a car that is easy to drive, fuel efficient, low on maintenance and has a refined engine. I am considering the Maruti Suzuki Alto, the Hyundai i10, Hyundai Santro, Maruti Suzuki A-star and Chevrolet Spark. The Alto has good manoeuvrability but seems to be outdated. My budget is Rs 3-3.50 lakh. Which car would you suggest?
The new five-party coalition in Jharkhand which is all set to assume power tomorrow has 31 MLAs with criminal cases against them.
Funds will have to launch products tailor-made for semi-urban, rural markets.
The Serious Fraud Investigation Office (SFIO) has initiated an inquiry into Vedanta group company Sesa Goa. The scope includes verifying the past eight years’ financials, said a government official. “The investigation period also includes the time after Vedanta acquired Sesa Goa in April 2007. The movement of the share prices will be checked as part of the investigation,” said the official.
India Inc today asked Finance Minister Pranab Mukherjee to introduce Goods and Services Tax (GST) "as early as possible", amid speculations that the indirect tax reform may not be implemented from the scheduled date of April 1.
Though Senior Counsel Harish Salve concluded his arguments in the Ambani brothers’ case on the eleventh day today in the Supreme Court, another counsel for the RIL started arguments challenging the Bombay High Court’s judgment on the sharing of gas from the K-G basin.
The multilateral lending agency Asian Development Bank (ADB) will grant a loan of $200 million to finance Assam"s rural electrification drive.
Naveen Jindal-controlled Jindal Steel & Power Ltd (JSPL) is in the race for Mongolia’s Tavan Tolgoi coal project, one of the 10 biggest deposits in the world.
Brokers have discovered a golden opportunity in the positive market sentiment to add investor accounts, even if it means offering these services for free.
The Union Government may reduce the price of wheat and rice it plans to sell in the open market to check food inflation, after an earlier sale received poor response possibly due to high rates quoted by it.
Dish TV, the direct-to-home (DTH) arm of Subhash Chandra’s Essel group, will raise Rs 1,000 crore from foreign markets, issuing foreign currency convertible bonds (FCCBs) in a month.
Keeping in view the robust demand for mobile downloads during the festive season, Mumbai-based Nazara Technologies Limited, one of India’s leading mobile entertainment companies, plans to roll out three games soon on the mobile platform.
Metal producers’ earlier plan to raise funds through equity issues may get delayed, as the flush of liquidity has slowed and the market has turned weaker. Sterlite Industries, JSW Steel, Hindalco and Tata Steel together plan to raise about $5 billion through different equity issues.
The Centre today asked industries and research laboratories to develop alternate technologies using iron ore and non-coking coal so as to reduce production cost for the steel industry.
Group in alliance with global majors to gear up for the decade of innovation.
BEML, the mining and construction, defence, rail and metro coach manufacturer under the ministry of defence, today reported a healthy 45.1 per cent rise in its net profit at Rs 172 crore for the fourth quarter ended March 31, 2009 compared to the corresponding quarter last year. The rise was mainly on account of a 75 per cent rise in orders for rail and metro coaches.
The government today said that the United States has not expressed support for a permanent seat for India in an expanded United Nations Security Council.
The government today admitted its failure in dealing with the losses suffered by tribals in land acquisition for various projects, but said one solution was that tribals must benefit from the projects for which they had been displaced.
Retired, but not yet a senior citizen seems to be the plight of many. For instance, the Union ministry of Social Justice and Empowerment defines a senior citizen as someone who is 60, but the income tax department allows benefits for the category only after 65.
City-based Centurion Group of Institutions (CGI) will sign an MoU (memorandum of understanding) with the University of South Queensland (USQ), Australia, for collaboration in education field.
Indian Oil Corp, the nation"s largest oil firm, today said it will take 26-49 per cent stake in the Rs 10,000-crore nuclear power plant it will set up in collaboration with the Nuclear Power Corp of India.
Demanding higher prices for sugarcane in Uttar Pradesh, Rashtriya Lok Dal President Ajit Singh has said that if sugarcane farmers did not get the right price for their crop, they will gherao the cane mills and stop the supply of their produce to them.
The Uttar Pradesh today said it will not allow the sugarcane farmers of the state to sell their produce to mill owners in neighbouring states of Haryana and Uttarakhand, which they claimed offered better prices.
Latha Jishnu / New Delhi January 28, 2010, 0:56 IST
The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.
The Union Government has given consent for setting up the centre of National Institute of Urban Development (NIUD) in the Chhattisgarh. Sources in the government said that after discussion with state officials, the union government had given consent for setting up the NIUD centre in the state. The centre had also sanctioned Rs 35 crore for the project.
The Mumbai-based Avon Corporation has posted first ever quarterly net profit at Rs 3.38 crore in the first quarter of the current fiscal on a turnover of Rs 25.79 crore.
Pension reform remains among the unfinished agenda of the UPA government in 2009 even as it gave every citizen an option to get an old age safety net for the first time in Indian history.
Dubai World: Lenders to Dubai probably face writedowns. But the few available numbers suggest the losses won’t be huge.
Google, the world’s largest search engine and one of the biggest internet brands, is understood to be eyeing opportunities in the third generation of mobile telephony, or 3G, in India.
Galleon Group LLC, the US hedge fund whose founder Raj Rajaratnam has been charged with insider trading, has exited domestic brokerage firm Edelweiss Capital by selling entire 7.02 per cent stake in the company.
The Indian team of intelligence officials, which went to the US in connection with probe into Lashkar-e-Toiba (LeT) operative David Coleman Headley"s terror designs, has come back with "good information", Union Home Minister P Chidambaram said today.
When US Secretary of State Hillary Clinton said on her visit to ITC’s Green Centre in Gurgaon that it was a “monument to the future”, she was emphasising what ITC had seen long before most of the world did.
Displays no eagerness on DoT suggestion to retender.
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Private equity fund Pi Capital is often described as “the investment club of the wealthy”. Its CEO David Giampaolo has his eye firmly trained on India, he tells Archana Jahagirdar
The Union government has finally accepted that in spite of a major setback in cane production during the season ended September 2009, the country’s sugar production would not have been as dismal as 14.6 million tonnes compared with 26.33 million tonnes in 2007-08, had there not been such a massive diversion of the crop to gur and khandsari units.
A research on top-10 searched terms by volume has rated ‘facebook’ as number one in the ‘net communities and chat’ category, indicating the brand recall that Facebook enjoys globally and how it has reached a massive audience since its general availability in December 2008.
The Orissa tourism department"s plan to start a luxury train modeled on the famed Palace on Wheels has gained ground as a private player has evinced interest in investing in the project.
IT company HCL Infosystems today said it will raise funds to the tune of Rs 847 crore by private placement of shares with qualified buyers and issuing warrants.
High-value post-paid subscribers are more likely to use number portability in India where the market is dominated by pre-paid subscribers who look for the cheapest service.
HCL Security today said it has signed an agreement with technology firm Cisco for delivering IP-based safety and security solutions.
Business Standard / New Delhi November 11, 2009, 0:27 IST
Catamaran Venture Fund, promoted by Infosys Technologies Chairman and Mentor Narayan Murthy will be active for investments from March 2010.
The Nifty is likely to move around 5,200 in a day or two on the back of long build-up in December futures and key stock futures. The December futures rose 100 points and closed at 5,132, the highest since October 16, but on thin volumes, indicating absence of bears.
Abhineet Kumar / Mumbai December 24, 2009, 0:03 IST
The Mukesh Ambani-run Reliance Industries (RIL) has reopened about two-thirds of its 1,432 petrol pumps in the country and is selling about 2,000 kilolitres of auto fuel per day, RIL President (Refinery Business) P Raghavendran said today.
State-owned defence and aerospace company Hindustan Aeronautics Ltd (HAL) said today that it was not trying to monopolise the aerospace sector in the country.
The Department of Telecom (DoT) is likely to seek approval for auctioning three blocks of 5 MHz each of 3G spectrum pan-India except Rajasthan and North East, from the Empowered Group of Ministers (EGoM) scheduled to meet tomorrow.
The advance tax collection from India Inc rose 20 per cent during the first nine months of the current fiscal compared to the same period last year, with automobiles, consumer goods and metals leading the pack.
The creation of a single national media policy and a single-window clearance for companies involved in the media and entertainment sector will give required fillip to the domestic media industry, says India Inc.
Rajya Sabha was today adjourned sine die after a month-long session, which witnessed passing of 17 government bills and discussions on a range on issues, including the Liberhan report and price rise.
From now on, ministers will be able to take "any number of companions or relatives" along by air for free with Parliament giving nod to a bill providing for such facilities to them.
Real estate firm CHD Developers" is looking to expand its education business and plans to open around 500 pre-schools in the next five years across the country.
The Bombay Stock Exchange (BSE) brokers plan to take up extending trading hours with the Prime Minister and market regulator Sebi.
The Indian markets have opened in the green on the back of positive global cues. The Sensex is quoting at 17,134, higher by 33 points and the Nifty is up 4 points at 5113.
After Karnataka, the steel giant ArcelorMittal has set its eyes on the mineral-rich Chhattisgarh for setting up a steel plant.
Drug maker Suven Life Sciences is in talks with four global pharma majors for a licensing deal for its Alzheimer drug SUVN-502, a top company official said today.
India"s largest retailer, Pantaloon Retail (India), today said it will raise Rs 500 crore by way of private placement of shares with qualified institutional buyers.
Japanese drug maker Daiichi Sankyo, which holds 64 per cent stake in Ranbaxy Laboratories, today reported a 45 per cent drop in net income for the April-September this year. The company has a net income of ¥18.69 billion for six months ended September compared with 33.97 billion yen in the same period last year, Daiichi Sankyo said in a statement.
Japanese drug maker Daiichi Sankyo, which holds 64 per cent stake in Ranbaxy Laboratories, today reported a 45 per cent drop in net income for April-September this year.
India’s biggest drug maker, Ranbaxy Laboratories, has posted a net profit of Rs 116.6 crore for its third quarter ended September, against a net loss of Rs 394.5 crore in the same period last year, which had been largely attributed to mark-to-market exchange losses.
Bharati Shipyard ended at Rs 165, higher by Rs 1 or 0.88%, on the BSE. The stock had opened at Rs 166 and touched an intra-day high of Rs 174 and a low of Rs 164. Total trading volumes of 218,525 shares were registered on the counter as against the two-week average of 99,782 shares.
The government today said in the Lok Sabha that a special audit has observed that Reliance Communication and its other subsidiaries under reported revenues during 2006-07 and 2007-08.
India is not facing any shortage in onion supplies and prices of the key vegetable have now started easing, Minister of Commerce and Industry Anand Sharma said in the Lok Sabha today, replying to a member"s query.
The government today admitted in Rajya Sabha that almost half of 951 central sector projects are delayed resulting in cost overrun to the tune of over Rs 40,000 crore.
Government today ruled out a CBI probe into the Jaipur oil depot fire of November and informed the Lok Sabha that a Committee had already been formed to look into the safety aspects and lapses that led to the incident.
Reason: Few issues have enabled investors to make listing gains.
UTI Mutual Fund would revise the exit load for 18 schemes from Monday, the fund house said on Friday, amending the scheme’s offer document.
A day after the Reserve Bank of India (RBI) tightened norms governing external commercial borrowings (ECB), Governor D Subbarao said the capital flow into India was in line with the requirement and current account deficit.
This erstwhile plain vanilla product has been made attractive by banks through bundled deals and flexible options
Oil has started leaking from MV Black Rose, the ill-fated vessel which sank near Paradip port two weeks back, raising serious concerns of sea pollution among the fishermen communities and the environmentalists.
The Union ministry of environment and forests has directed the Orissa government to take legal action against the Paradeep Port Trust (PPT) authorities for violating the Wild Life Protection Act, Environment (Protection) Act and Water Pollution Act.
- Malegaon accused wants to contest LS polls
At least six persons were injured when striking workers of CPI(M)’s labour wing Citu clashed with members of Trinamool Congres-affiliated union near the Haldia Petrochemicals’ (HPL) supermax project site in Purba Medinipur district on Sunday. Police said the Citu workers were picketing near the plant site in support of their indefinite strike, which began yesterday, when some members of INTTUC (Indian National Trinamool Trade Union Congress) tried to forcibly enter the HPL complex.
The government today approved the conversion of its Rs 128 crore loan to state-run Hindustan Prefab (HPL) into equity to help the company becoming a viable enterprise.
Focus is on underground, abandoned mines.
The Coal Ministry is working on a proposal to disinvest 5-10 per cent stake in navratna PSU Coal India Ltd, a move which may pave way for early listing of the country"s largest producer of the dry fuel.
The ONGC scrip rose 7 per cent to close at Rs 1,126.45 on fuel price hike. The government raised the price of petrol by Rs 4 a litre and diesel by Rs 2 after market hours on July 1. Following the hike, experts believe that the ONGC"s subsidy burden for the current year would reduce if the crude prices stay at around $70 a barrel. The stock opened at Rs 1,081.1 and made a high of Rs 1,155.7 and a low of Rs 1,076.1. The total traded volumes stood at 1.9 million shares (around 4 times its two-week average).
The pre-Diwali rally fizzled out last week as markets players opted to book gains. However, in Smart Portfolios only Amar Ambani got into profit-taking mode. Ajay Parmar was the only other active fund manager with one trade on each side (buy & sell). On the other hand, Amar Ambani executed 12 trades, out of which 10 were on the sell side. He was a net seller of stocks worth Rs 3.65 lakh. Phani Sekhar and Praveen Panjwani continued to remain on the sidelines.
Most people think that small investments will lead to lower risks. But the returns are adversely impacted.
All offer documents of fund houses run a mandatory declaration: “Mutual funds are subject to market risk. Read the offer document carefully before investing.” But ‘market risk’ per se is not all that the investor should be worrying about, especially those who are investing in an existing fund.
Essar Oil is in talks with Royal Dutch Shell to buy two of its refineries in Germany and one in the UK.
In order to reduce costs, global oil major Shell will soon transfer additional office jobs from Houston and elsewhere to India and the Philippines.
Home Minister P Chidambaram today said he has invited TRS chief K Chandrasekhar Rao here to discuss the next step for formation of a separate Telangana state.
Y S Jaganmohan Reddy, son of late Y S Rajashekhara Reddy, today met Congress President Sonia Gandhi at her residence here, amid demands by his supporters to make him chief minister of Andhra Pradesh.
Diwali was celebrated for the first time at the 10 Downing Street here amid chanting of Vedic prayers for world peace, with British Prime Minister Gordon Brown terming it a "historic event".
Larsen & Toubro (L&T) has sold a third of its holding in Mahindra Satyam, or 27.24 million shares, for Rs 306.54 crore, taking the software company’s share price down by 6.6 per cent, the biggest fall in five months.
The markets chose to ignore the strong index of industrial production (IIP) numbers to shed nearly one per cent in a volatile session of trade. The Sensex closed at 15696.03, lower by 153.57 points, and the Nifty faced resistance around the 5,000 mark to end at 4,952.65, down 51.30 points. Realty, metal and banking sectors were the major draggers.
The "most appropriate" timing for a gradual rollback of the fiscal stimulus package would be the next financial year, Chairman of the Prime Minister"s Economic Advisory Council C Rangarajan said today.
Joe C Mathew / New Delhi September 22, 2009, 0:22 IST
Sreelatha Menon / New Delhi September 20, 2009, 0:08 IST
The Andhra Pradesh government has decided to order a CBI inquiry into the helicopter crash in which former chief minister YS Rajasekhara Reddy and four others died.
The central government would invest Rs 9,000 crore for the expansion of the Vizag Steel Plant, Andhra Pradesh Chief Minister K Rosaiah said here today.
A section of Air India (AI) employees, owing allegiance to the Air Corporation Employees Union (ACEU), has threatened to strike work from December 22 to protest the management’s proposed move to withdraw some facilities from January 1.
Trinamool Congress chief Mamata Banerjee today claimed that the CPI(M) was importing Naxalites from Nepal and providing them with arms to terrorise the people.
Rajesh Bhayani / Mumbai December 24, 2009, 0:12 IST
IRB Infrastructure Developers today said it has qualified to bid for projects worth Rs 22,000 crore from the National Highway Authority of India (NHAI) and Gujarat State Road Development Corp (GSRDC) among others.
Most private players see a decline in premium income.
RBI tells banks to draw a roadmap for financial inclusion.
Wholesale food prices touched 10-year high with food inflation inching to 19.95 per cent for the week ended December 5, prompting Finance Minister Pranab Mukherjee to commit food imports to maintain supply in the domestic market.
The process may begin with banks where govt holds around 51%
New Year resolutions are common. Every year, during this time, a lot of people decide that they would do a number of things to improve their lifestyle, careers and finances. However, many times things do go awry and the best-laid plans fail to fructify.
No one can repair the BJP, former party ideologue K N Govindacharya tells Sreelatha Menon
Union Bank of India is planning to raise $500 million through bonds by the end of this financial year to fund its global operations. The money would be raised under its medium-term note (MTN) programme from the overseas market by March.
IT firm HCL Infosystems today announced its partnership with global chip maker Intel and state-run telecom operator BSNL to launch low-cost computing devices offering broadband wireless connectivity.
State-run Bharat Sanchar Nigam Ltd (BSNL) today announced the launch of per-second billing plan, joining a host of mobile phone operators who have already introduced such tariff scheme.
The total telecom subscriber base in India crossed 500 million at the end of September, taking the overall teledensity to 43.5 per cent. India is the second-biggest and fastest market for wireless services, behind China, which has over 600 million users.
Multiplexes may push for an embargo of up to two weeks on Bollywood producers releasing their films on Direct-to-Home (DTH) television platforms, after the films hit the theatres.
The next time you call up Finance Minister Pranab Mukherjee’s Delhi mobile, you could well get to hear “services to this number have been temporarily disconnected”. A few days ago, while Mukherjee was holding a meeting with his top bureaucrats, he got a call from a Vodafone customer service executive who said that since the bill, of a fairly large amount, had not been paid, the company would have no option but to disconnect the phone in another day or so.
Tata Group Chairman Ratan Tata today said the stimulus packages provided to the economy to cushion the impact of the global economic downturn should not be withdrawn.
A K Bhattacharya / New Delhi January 5, 2010, 0:48 IST
Power and telecom solutions vendor Sterlite Technologies Limited has won networking contracts worth Rs 54 crore from Bharat Sanchar Nigam Ltd (BSNL) to be executed in the current fiscal.
Awards its 3G management franchise to Virgin.
In an attempt to improve telecom services in rural areas, state-owned BSNL would set up about 10,000 towers across the country, many of which would be installed in villages bordering Bangladesh and Pakistan.
China/anti-trust: China’s campaign against market bullies has a long way to go. Some individual customers have taken on dominant companies under a new antitrust regime launched over a year ago. The targets have included big game such as telecoms operators China Mobile and China Netcom, petroleum group Sinopec, and technology giant Baidu. But the results of two early cases show consumer power hasn’t yet reached the Middle Kingdom.
Indian Railways’ ambitious plan to install ‘green’ toilets in all its 9,000 trains by 2011-12 have got postponed once again, with the process of tendering for procurement of biotoilets being scrapped last week. A revised tender agreement is likely to be approved by the Railway Board shortly.
General Electric"s financial services arm GE Capital has appointed Steve Sargent as the President and CEO for its Asia Pacific operations.
Support at 5,150, resistance at 5,300.
With the launch of utility vehicle Grande MK II, an upgraded version of its premium Sumo Grande, Tata Motors is looking to increase its market share by 2-3 per cent in the utility segment. Utility segment at present constitutes 17-18 per cent of the total car market in the country.
Launches new Sumo Grande MK II
India Inc"s staff cost went up by 11.2 per cent during January-March last fiscal growing at a lesser pace than the previous three quarters of 2008-09, reflecting the economic slowdown, according to a Reserve Bank of India (RBI) study.
In a landmark discovery, India’s maiden moon mission Chandrayaan-I has found evidence of water on the lunar surface, a finding that could trigger a serious hunt for life in outer space.
An all-party meeting chaired by Home Minister P Chidambaram to devise a mechanism and a road map to resolve the vexed Telangana issue began here today with TRS chief K Chandrasekhar Rao, spearheading the movement for a separate state, and Chief Minister K Rosaiah attending it.
A meeting of eight political parties convened by Home Minister P Chidambaram here tomorrow will try to devise a mechanism and roadmap to resolve the vexed Telangana issue, even as leaders from three regions of Andhra Pradesh are sticking to their known stands.
Asian markets are trading in red this morning. The Hang Seng has dropped 80 points to 21,419. The Nikkei, after touching a four-month high, has dropped 27 points to 10,611 on continued concerns of Japan Airline"s debt.
The markets have firmed up after a soft start this morning. The Sensex opened a point lower at 17,118, and soon touched a low of 17,089 owing to weak cues from the global markets.
A former Silicon Valley serial entrepreneur sets up India’s first commercial solar power plant
Vrishti Beniwal & Ajay Modi / New Delhi November 21, 2009, 0:57 IST
The world’s third largest wind energy turbine maker, Suzlon Energy, has shifted most of its management operations back to its headquarters in Pune.
REpower, the German subsidiary of Suzlon Energy, has posted a 21.5 per cent increase in net profit at ¤17.5 million (Rs 121.9 crore) for the first half of 2009-10, from ¤14.4 million (Rs 100.3 crore) in the previous year, thanks to its healthy order book position.
Mobile handset maker China Wireless Technologies today forayed into the Indian dual-sim smart-phone market in partnership with Reliance Communications (RCom), aiming to clock Rs 800 crore revenue in the next five years.
The Asian markets are trading flat to positive.
The markets have recover after slipping into negative terrain for the second time since morning trades. The NSE Nifty is now at 4,535, up eight points.
The Sensex is now at 15,375, up 144 points. The NSE Nifty is at 4,566, up 43 points.
The markets are now exhibiting sideways movement, after initial volatility.
The Airports Authority of India (AAI) raised Rs 380 crore till September this year through short loans for funding various development projects but the borrowings will not lead to increase in passenger fares, the Rajya Sabha was informed today.
Allahabad Bank is restructuring its financial services subsidiary, AllBank Finance Ltd, to widen its operations, currently limited to merchant banking services and allied fee-based activities like distribution of mutual funds.
At a time when the finance ministry is abuzz with talks of divestment, the existing disinvestment corpus -- the National Investment Fund (NIF) -- has managed to give only single-digit returns.
SBI Mutual Fund will launch SBI Debt Fund Series 13 Months Fund-10 on Friday. Subscriptions to this plan will remain open until March 23, the fund house said in a notice On Thursday.
Upon the advice of many people, I liquidated all my investments to book profits by June-end. I was waiting for markets to correct and now I am cursing all those who gave free advice to book profits. My money in a savings bank account is earning 3.5 per cent. Should I invest right now or wait until the bears take over? -Manjunath
PROFILE
Political expediency should not stunt a great city’s growth.
All offer documents of fund houses run a mandatory declaration: “Mutual funds are subject to market risk. Read the offer document carefully before investing.” But ‘market risk’ per se is not all that the investor should be worrying about, especially those who are investing in an existing fund.
Investors have sold units worth Rs 16,507 cr in the past 3 months.
American aviation giant Boeing today rolled out its first "P-8A Poseidon", claiming it to be the world"s most advanced multi-mission maritime patrol and reconnaissance aircraft, with the Company saying that India would be its first buyer country.
Investors have sold units worth Rs 16,507 cr in the past 3 months.
REpower, the German subsidiary of Suzlon Energy, has posted a 21.5 per cent increase in net profit at ¤17.5 million (Rs 121.9 crore) for the first half of 2009-10, from ¤14.4 million (Rs 100.3 crore) in the previous year, thanks to its healthy order book position.
Taking the disinvestment process in iron ore producer NMDC forward, the government today invited applications for appointment of lead managers to advise it on the timing of the public issue, among other aspects.
As Anil Ambani helicopter sabotage case took a mysterious turn with the death of a witness, Maharashtra government today said no evidence has been found to suggest that a "corporate rivalry between two groups" was behind the incident.
The Centre, in an attempt to end the imbroglio over Telangana, today convened a meeting here on January 5 of eight recognised political parties in Andhra Pradesh for a discussion on the issue, a move welcomed by a grouping of all parties spearheading the statehood stir.
This is one of the few IPOs to be oversubscribed in the retail category this year.