Small Business
With the increase in offer price the size of the proposal now stands at Rs 438.3 crore
The Supreme Court today asked the Madras High Court to first hear on Thursday the amalgamation plea of cash-strapped retail chain Subhiksha Trading Services Ltd with its subsidiary Blue Green Construction and Investments Ltd. The retailer was forced to shut its network of supermarkets across India due to acute financial crunch.
Fastrack, a branded chain of retail stores from Titan Industries Ltd (TIL), has set the target of Rs. 360 crore sales turn over for the current FY 2009-10.
Tuticorin-based Tamilnad Mercantile Bank (TMB) has set a target of Rs 20, 000 crore business by March 2010 from the present Rs 16,000 crore.
Income Tax (I-T) authorities are carrying out search operations at various establishments of the ship- building and repairing firm, ABG Shipyard, for alleged tax evasion, an Income tax Department source said.
As the takeover battle between Bharati Shipyard and ABG Shipyard for Great Offshore heats up, analysts feel it is the right time for retail investors to book profits as the fundamentals of the target firm"s stock do not support sustainability of its current price.
Ship building firm ABG Shipyard is getting ready to counter the offer price of rival Bharati Shipyard to acquire offshore drilling company Great Offshore.
Ending months of campaign, which prompted the Institute of Chartered Accountants of India (ICAI) to issue some of the oddest directives such as those requesting a curb on SMSes and emails sent by candidates, the apex body of auditing professionals in the country is going to polls tomorrow.
The last date for sale and submission of request for qualification (RFQ) applications for the Rs 12, 132-crore Hyderabad Metro Rail project is extended till December 14, 2009, from the earlier November 27.
The Union Ministry of Consumer Affairs has proposed to the prime minister that the Forward Markets Commission, the regulator for commodity futures, also be the regulator for all warehouses.
The country’s foreign exchange reserves fell $1.13 billion in the week up to September 11 to $284.4 billion on the back of portfolio investments and revaluation of currencies.
India"s foreign exchange reserves rose by $684 million for the week ended October 23 to $285.520 billion from $284.836 billion in the previous week.
New technology allows access to webpages without internet.
Aluminum consumption in Asia may continue to grow next year as stimulus measures in China, the world’s biggest metals consumer, and rest of the region lift demand for the metal, an executive at Novelis Korea said.
The government today said it has not deputed any police official to go US to question David Coleman Headley, who was planning to target key installations in the country at LeT"s behest.
Faced with a major downslide in business traffic, airlines are now adopting innovative schemes to attract high-end and corporate travellers to fill in the seats on the front rows.
The Janpath Hotel is fighting the odds with a novel plan to bring it into the limelight.
Cabinet Secretary K M Chandrasekhar today did some plain-speaking, asking administrative ministries to allow Central Public Sector Enterprises (CPSEs) to function independently.
The global petrochemical industry’s centre of gravity is shifting to the feedstock-rich West Asia as dozens of new projects are coming up in the region while production falters elsewhere. According to Chemical Week, co-organiser of the Fourth Annual GPCA Forum, 19 million metric tonne ethylene, the key building block for petrochemicals, is scheduled to be added annually to the Gulf region capacity over the next five years, nearly doubling the current capacity and providing extensive raw materials for downstream industries.
Chairing a meeting of the full-time members of the Planning Commission, Prime Minister Manmohan Singh today asked the commission’s members and officials to keep track of state-level development.
State-run telecom firm MTNL today reported a 77.5 per cent decline in its net profit at Rs 20.58 crore for the second quarter ended September 30, 2009.
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.
The IRB Infrastructure Developers scrip rose 6 per cent to Rs 148.15 on securing a highway project in Rajasthan. The company emerged as the lowest bidder for the highway project to be built between Jaipur to Deoli section of NH12. The Rs 1,500-crore project is on a grant basis with a concession period of 25 years. It has sought a grant of Rs 306 crore for the project from NHAI.
Mixologist Max Warner makes us cocktails with Chivas Regal
The Indian bourses opened in the positive at 17,604 but soon slipped into the red owing to lack of buying activity and no major trigger to boost the sentiment. The index exhibited lacklustre movement for major part of the trading day. The benchmark index towards the end slipped deeper into the red to touch a low of 17,509, down 149 points from the day"s high.
Brazilian firm wants to concentrate on gas finds back home
Consequent to the sharp run up in markets in 2009, investors will have to be careful in picking stocks while lowering their return expectations
Asian stocks fell for the first time in three days as Japan Airlines Corp and Asiana Airlines Inc plunged on debt concerns and as lower oil and gold prices dragged down commodity producers.
Asian markets have ended in the green today. The Hang Seng surged 237 points ( 1.12%) to 21,329.
Fears of rising interest rates in the US dampened investor sentiments on Monday. The Sensex dropped over 100 points, to end below 17,000 after four trading sessions.
Bilcare ended at Rs 512, lower by Rs 2 or 0.3%, on the BSE.
The Nifty faced strong resistance above 5,300 and closed in a Doji pattern, indicating indecisiveness among participants.
Hyderabad-based drug maker Dr Reddy"s Laboratories plans to launch generic version of the world"s largest selling anti-cholesterol medicine "Lipitor" in the US market in the next 2-3 years.
Turnover of the 23 commodity exchanges in the country surged by 42.63 per cent to Rs 47,29,971 crore till November this fiscal on the back of significant improvement in agricultural and other commodities, the Forward Markets Commission (FMC) said today.
Stocks of 127 companies on the Bombay Stock Exchange (BSE) have raced to touch their lifetime highs this month, even while the key domestic benchmark index, the 30-share Sensex, is still well below its all-time high of 21,000 that it had touched in January 2008.
After decades of hunt for fortune abroad, India’s pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy’s and Piramal Healthcare are all headed to rural India to boost their revenues.
The country"s second-largest two-wheeler maker, Bajaj Auto, today reported its highest ever net profit recorded in a quarter at Rs 402.83 crore, driven by good sales in the profitable bigger and sportier motorcycles category.
Motilal Oswal Financial Services reported a 74 per cent year-on-year growth in net profit to Rs 47.2 crore for the quarter ended September 30, 2009.
A higher generation of implantable hearing technology is slated to be soon released in India by Cochlear Limited, engaged in cochlear and bone conduction implant technology.
Deutsche Equities India is among the dominant players in the domestic capital market and ranks second based on funds raised since January 2008 till date in the equity market. Sanjay Sharma, head, Equity Capital Markets, Deutsche Equities India spoke to Rajesh Bhayani on the trends in capital market, especially in the IPO segment and the recent lacklustre listings among other issues. Excerpts:
Eyes February roll-out with 10 mn capacity in phase one
The state health and family welfare department is looking to forge partnerships with the healthcare institutions in the private sector.
The Supreme Court today issued notice to state-run telecom major Bharat Sanchar Nigam (BSNL) on a petition by Telecom Regulatory Authority of India (Trai), which had objected the PSU"s charging higher tariff from subscribers by way of reducing the pulse rate of each call.
The tremors from the Dubai World crisis are unlikely to be felt by Indian information technology (IT) service providers, since they do not have a major exposure to the market in that region.
Taking its “In India, for India” initiative further, GE Healthcare today launched MACi, a low-cost portable ECG device.
- BofA likely to pay bonuses close to 2007 level - Future Group pulls the plug on "Bijli Ghar" - PowerMin wants gas at $2.34 for NTPC - Another RIL cash raising on anvil - RIL to drill six new wells in KG-D6 block this year - Reliance Industries: Filling its coffers
Nasscom, the apex body representing the Indian Information Technology (IT) industry, today proposed that it would like to work closely with the government “to drive an inclusive (which benefits all sections of society) economic growth agenda”.
New Telecom and IT Minister Andimuthu Raja said he will "fight for" the extension of tax sops to IT and ITeS firms for another two years in the coming Budget.
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.
Madhya Pradesh"s biggest Birsinghpur based 1340 Mega Watt (Mw) thermal power generation station is facing fuel crisis with a coal stock of just 10,000 metric tonnes (MT) to generate power against its daily need of around 15,000-16,000 MT if plant functions at its full capacity.
Software major Microsoft Corporation has held talks with News Corp for a possible deal which would involve paying the Rupert Murdoch-led firm for removing its news content from the website of Internet search giant Google, says a media report.
Image spam has made an unwelcome comeback by contributing 16 per cent to all the spam messages recorded at the end of April 2009.
Police are on the lookout for Congress MP L Rajagopal, who escaped from a city hospital where he was admitted after being brought from a hunger strike site over the Telangana issue.
If a telephone company had a heart, Google Inc would be inspiring terror in it. As the newspaper, book and video industries can attest, Google has a knack for invading established markets and turning them upside down. Next up are the phone companies: Google Voice, still in testing, provides a free, powerful suite of Internet-based services that makes it a personal communications hub.
Mafatlal Industries, a flagship company of Arvind Mafatlal Group, is planning to increase production of school uniform and corporate uniform by reducing capacity of non-profitable product ranges like industrial fabrics, sheeting’s, government supply products etc.
Chennai-based fast moving consumer goods firm Cavin Kare Private Limited has planned to double its exports this year by reaching out to new overseas markets like the US and Australia, a top company official said.
The annual plan ceiling of the water resources department (WRD) for 2010-11 has been fixed at Rs 2222.64 crore. It is the highest among all the departments.
Rehabilitation and Peripheral Development Advisory Committee (RPDAC) for the Posco steel project in Orissa will meet next month to finalise the rehabilitation and resettlement (R&R) package for the project affected persons.
The 1200 MW thermal power project of Jindal India Limited at Kaniha near here, estimated to cost Rs 6,000 crore, is under a cloud as the twelfth meeting involving the local administration, company authorities and the affected villagers remained inconclusive.
The Rehabilitation and Peripheral Development Advisory Committee (RPDAC) meeting for three Angul based industries including the Rs 15000 crore steel project of Jindal Steel and Power Limited today failed to resolve issues related to land rate for the Jindal India Power’s 1200 Mw project in the area.
The proposed Vedanta University is likely to get chairman of the Knowledge Commission Sam Pitroda as its first Chancellor, Orissa"s Higher Education minister Debi Prasad Mishra said today.
It is towards Ireland that all eyes in Brussels, the headquarters of the European Union, are currently trained. On October 2 the Irish will hold a referendum for the second time to decide whether or not to approve the Lisbon Treaty. The island-nation will thus decide the fate of a much beleaguered set of proposed changes to the 27-member EU’s rule book that has its opponents frothing at the mouth even as its supporters tout its transformational potential.
Cox & Kings Q3 net jumps 88% to Rs 19 cr
Mahindra and Mahindra (M&M) and global weapon system manufacturer BAE Systems have signed an agreement to create a joint venture defence company in India to focus on land-based systems.
Plans majority stake in JV; to offer NLD, ILD, ISP services.
Martin Feldstein / December 5, 2009, 0:59 IST
For those, who are just struggling to find the right software for technical analysis, here’s some help
Planning Commission Deputy Chairman Montek Singh Ahluwalia said Rajya Sabha member Krishnaswamy Kasturirangan will be appointed as a member of the commission.
On August 13, the National Remote Sensing Agency — a part of the Indian Space Research Organisation (Isro) — put India on the global cyberspace map. It launched Bhuvan — a geoportal which allows users to explore the virtual earth on the internet for free in a 3D environment with specific emphasis on India.
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.
The Supreme Court today asked the Madras High Court to first hear on Thursday the amalgamation plea of cash-strapped retail chain Subhiksha Trading Services with its subsidiary Blue Green Construction and Investments (BGCIL).
Delhi-based Vishal Retail’s Rs 730 crore of loans will be restructured, its bankers agreed today. It has become the second major retailer after Subhiksha to go into a corporate debt restructuring (CDR) process after it said it couldn’t pay its loans.
Four public sector giants — ONGC, Steel Authority of India Ltd (SAIL), Indian Oil Corp (IOC) and National Thermal Power Corp (NTPC) — were likely to get in next ten days the Maharatna status, which would empower these Public Sector Undertakings (PSUs) with greater autonomy, a top government official said today.
Oil and Natural Gas Corp (ONGC) has bid for Venezuela"s Carabobo oil auction along with Spain"s Repsol YPF SA and Petroliam Nasional Bhd of Malaysia.
DLF, the country’s largest real estate developer, posted a 30 per cent dip in its consolidated net profit for the quarter ended December 31, 2009, on account of losses arising from non-core businesses of the company as well as continuing stress in the business environment.
Tata Communications today said its net profit surged over three fold to Rs 281.80 crore for the third quarter ended December 31, over the same period previous fiscal.
Backed by a healthy growth in core fee-income, Bank of Baroda (BoB), overcame challenging market conditions to post a 17.5 per cent jump in net profit in the third quarter, overshadowing the muted earnings posted by many of its peers.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.
Indian IT major HCL Technologies today said the cost-cutting phase necessitated by the global economic downturn is over and it will work with its global customers to help redesign their business.
With five more entities folding up, the total number of American bank failures has touched nine in 2010.
Ii can give high profits, but the sugar industry is volatile and influenced by many factors
Chandrayaan-II moon mission, which will help in analysis of mineral composition and undertake terrain mapping of the moon, will be completed by 2012-13, Project Director of Chandrayaan Dr M Annadurai said today.
Global Outlook, a white label hosted Microsoft Exchange and collaboration services provider with its data centres in Hyderabad and Dallas in the US, is targeting to achieve Rs 25 crore revenues from the Indian market by the end of this calendar year, according to its executive chairman Dayakar Puskoor.
Apollo Hospitals today reported a 48.6 per cent increase in its net profit at Rs 43.91 crore for the quarter ended on December 31, 2009, as compared to the similar period last fiscal.
Jammu & Kashmir Bank today reported 32 per cent jump in net profit at Rs 78.68 crore for the fourth quarter ended March 31, 2009, on the back of high interest income and other earnings.
Domestic institutional investors (DIIs) were net buyers of Rs 2,330.25 crore (provisional) today, according to data released by BSE.
Away from the glamour, but important nevertheless
The markets slipped as a knee jerk reaction to the 75 basis points CRR hike announced by the RBI, but has soon recovered again. The CRR (Cash Reserve Ratio) hike was suprisingly higher than the 50 bps expected by the markets.
Under attack for making knowledge of Marathi a must to get new taxi permits in Maharashtra, Chief Minister Ashok Chavan today did a quick U-turn insisting that fluency in any local language like Hindi and Gujarati was also enough.
Asian stocks rebounded from earlier losses after Dubai secured $10 billion of funding to repay its debt. Japan shares dropped as a measure of business confidence showed companies are scaling back investment plans.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.
Hang Seng is quoting at 20,332, down 530 points or 2.5%, and the Nikkei is at 10,554, lower by 313 points or 2.8%.
The Asian markets continue to trade weak.
In a major boost to India"s Sun Pharma, which is locked in a takeover battle with Taro, shareholders of the Israeli drug firm today rejected a proposal to re-elect directors.
Although Smart Portfolios kicked off on September 1, 2009, it feels good to end the calendar year on a cheerful note. The net returns in the second season are at the highest point currently. The benchmark S&P CNX 500 portfolio value has appreciated by 12.73 per cent to Rs 11.27 lakh as against its starting corpus of Rs 10 lakh. Ajay Parmar and Amar Ambani continue to outperform the benchmark with a wide margin. While the former"s return has zoomed 20.46 per cent, the latter"s portfolio value has soared nearly 19 per cent. Phani Sekhar has reported gains of 6.72 per cent so far, and Praveen Panjwani"s net worth is up by 6.3 per cent.
- FIIs infuse Rs 24,800 cr in Dec quarter - FIIs net buy Rs 516cr, DIIs net sell Rs 472cr - FIIs net sellers Rs 278cr in F&O on Wednesday - FIIs net buyers Rs 695cr in F&O on Tuesday - FIIs net sellers Rs 900cr in F&O on Thursday - Positive returns on the cards, but no sharp surge
India witnessed only one air accident -- the helicopter crash that claimed the lives of Andhra Pradesh Chief Minister Y S Rajasekhar Reddy and four others -- this year, a period that saw airlines improve their safety record, says IATA.
The government today said it will not relook into the investigations handled by arrested CLB member R Vasudevan, when he was heading the inspection department of the ministry of corporate affairs.
Private sector lender ICICI Bank today reported a 26.36 per cent drop in consolidated net profit at Rs 1,148.66 crore for the third quarter (Q3) ended December 31, 2009.
Kolkata-based Shree Cement today said it will invest Rs 450 crore to increase the annual capacity of its existing units in Rajasthan by 2 million tonnes by mid-2010.
The Indian markets continue to languish in the red and the Sensex is now at 17, 592, down 50 points. The NSE Nifty is at 5,258, down 16 points.
The Sensex fell 0.88 per cent, or 155.02 points, at 17,486.06, as weak global markets encouraged investors to lock in profits in outsourcers such as Tata Consultancy Services and Infosys Technologies.
Seven companies, including Reliance Industries and JP Associates, have raised over Rs 14,000 crore by way of treasury stock sale, private placements and bond issues in the second quarter of this fiscal.
Dhanalakshmi Bank is planning a brand transformation initiative which will include changing the logo and related branding treatment across all its customer touch-points.
The markets have opened in the positive, mirroring the gains in the US and firmness across Aia. The Sensex is quoting at 17589, higher by 103 points and the Nifty is at 5254, up 29 points.
The affordable housing projects launched by Tatas in Mumbai would be extended to more cities since the concept had evinced keen interest from all parts of the country, Tata group Chairman Ratan Tata has said.
It"s called initial public offer, but it was promoters who walked away with a lion"s share in this market during 2009, when they sold shares worth about Rs 20,000 crore in their companies to the public shareholders.
Raghavendra Kamath / Mumbai September 29, 2009, 0:19 IST
Telecom major, Bharti Airtel, has announced that it has agreed to acquire 70% stake in Bangladesh-based, Warid Telecom. Bharti plans to make $300 million fresh investment in the company, thus taking the overall investment to $1 billion. The new funding will be for capacity expansion, coverage and innovative products.
South Korean steel giant Posco has finally got the clearance from the Environment Ministry for acquiring forest land for its proposed Rs 54,000-crore steel project in Orissa, which has been already delayed more than a year.
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
South Korean car maker Hyundai will invest around Rs 800 crore to develop a small car for the Indian market that is likely to be launched in the next two years.
Arvind Subramanian / New Delhi November 25, 2009, 0:54 IST
The Prime Minister"s Economic Advisory Council Chairman C Rangarajan today suggested that the Reserve Bank of India (RBI) could reduce money supply and raise interest rates to tame the rising prices of food articles.
Eyes Rs 700 cr premium income this fiscal.
Helped by cash subsidy from the government, Hindustan Petroleum Corporation Ltd (HPCL), India’s third-largest refiner, managed to report a net profit of Rs 31.4 crore in the quarter ended December 2009. It posted a net loss of Rs 422 crore in the corresponding quarter last year.
Backed by a healthy growth in core fee-income, Bank of Baroda (BoB), overcame challenging market conditions to post a 17.5 per cent jump in net profit in the third quarter, overshadowing the muted earnings posted by many of its peers.
Cox & Kings (India) ended Day 1 at Rs 426, a premium of around 30% to its issue price of Rs 330.
US hedge fund makes 40% profit; KP Singh family to go for DLF Assets IPO in the first quarter of 2010
While oil and gas companies are cash rich, focus on managements’ credibility and ability to run the business.
GMR Hyderabad International Airport Limited (GHIAL) has signed an agreement with aircraft engine manufacturer, CFM International (CFM), to establish a new CFM56 maintenance training centre to support its customers in the South Asian region.
Land in Navi Mumbai to be used for building Bollywood theme park.
GMR Hyderabad International Airport Limited (GHIAL) has signed three memoranda of understanding with Jet Airways, Malaysia Airports Consultancy Services (MACS) and Asia Pacific Flight Training Sdn Bhd (APFT).
Three persons, including a lawyer, have been arrested in connection with the murder of RTI activist and graft whistle-blower Satish Shetty at Talegaon near here, police said today.
The Securities Appellate Tribunal (SAT) has set aside charges of insider trading against Dilip Pendse, former managing director of Tata Finance, and his wife Anuradha Pendse and Nalini Properties.
Gujarat NRE Coke ended at Rs 81, stronger by Rs 2 or 2.6%, on the BSE.
Diversified business conglomerate Godrej Industries today reported an eight-fold jump in its net profit at Rs 43.80 crore for the quarter ended December 31, 2009, over the year-ago period.
Despite a sharp fall in treasury income compared to the year-ago quarter, private sector lender Yes Bank recorded a 19 per cent growth in net profit to Rs 125 crore for the quarter ended December 31, 2009.
Pharmaceutical patents are just over a fourth of all patents granted in the country, but domestic drug makers account for almost all post-grant patent opposition filed, official data reveals.
Auto components maker Jay Bharat Maruti today reported an over five-fold jump in net profit at Rs 5.41 crore for the third quarter.
French car maker giant Renault today said it will launch two models in India in 2011 that will be rolled out from the company"s upcoming Chennai plant.
The Copenhagen accord on climate change was a partial success for India but it has certain “inbuilt hazards” of which the developing countries have to be wary, Environment Minister Jairam Ramesh has said.
India Inc is likely to post 15-20 per cent growth in net profit in the third quarter, thanks to a low base year and a promising show from automobiles, capital goods, construction, metals, pharmaceuticals and sugar companies. The telecom sector, for the first time after several quarters of strong performance, is expected to show decline in net profit on the back of decline in revenue per phone.
US car manufacturer General Motors today hoped to get 20 per cent revenue from overseas markets by 2011 once it starts exporting to these countries, a top company official said.
Toyota Kirloskar Motors Limited (TKML) is looking to make further inroads into the Indian market as it puts its strategy into overdrive. With the launch of the Prius and its small car in 2010, it is looking to add another volume product to its portfolio,
Japan"s top five auto makers have reported smaller year-on-year declines in their global production in August compared with July, showing signs of a bottoming out in auto production.
Auto makers Maruti Suzuki, Hyundai and Hero Honda today reported robust sales in November, lending optimism that the good economic showing in the second quarter would continue.
Apollo Hospitals today reported a 48.6 per cent increase in its net profit at Rs 43.91 crore for the quarter ended on December 31, 2009, as compared to the similar period last fiscal.
Jammu & Kashmir Bank today reported growth of 16 per cent in its net profit at Rs 139.99 crore for the quarter ended December 31, 2009, over the same period last year.
Apollo Hospitals today reported a 48.6 per cent increase in its net profit at Rs 43.91 crore for the quarter ended on December 31, 2009, as compared to the similar period last fiscal.
Trades between FIIs generated a volume of Rs 167 crore on the BSE Wednesday-an increase of 133.97% from Rs 72 crore clocked on Tuesday. As many as five stocks witnessed trades of 26 lakh shares on Wednesday.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 692.18 crore in futures and options segments on Tuesday.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 1,625.66 crore in futures and options segments on Monday.
With a view to spread the reach of banking, bankers will meet telecom industry and government officials here next week to explore the marriage of mobile phone technology with the proposed citizen identification project.
The stock settled 10% higher at Rs 59 and witnessed trades of 240 lakh shares on the BSE.
Airlines in the country are expected to cut down their losses in the third quarter of this financial year, thanks to a consistent increase in passenger numbers and the consequent surge in yields.
Improved passenger numbers in the last three months helped low-cost carrier SpiceJet post a profit of Rs 108.9 crore in the third quarter ending December 31, 2009. The airline had incurred losses of Rs 17.96 crore during the same period last year.
Maruti Suzuki India is the most searched car maker among potential buyers looking for online information, says a Google India study.
Wholesale prices-based inflation leaped to 7.31 per cent in December, shooting past RBI"s forecast of 6.5 per cent-level by this fiscal end, as food items such as sugar, potatoes and pulses turned costlier. Overall inflation in November was 4.78 per cent.
IDBI Bank Chairman and Managing Director Yogesh Agarwal today said that the public sector player had completed due diligence on a private bank for possible acquisition.
The United States has said it has held several rounds of meetings with China on the allegations of search engine giant Google that Chinese authorities were indulging in email hacking and censorship, a top Obama Administration official said.
Business Standard / New Delhi January 20, 2010, 0:47 IST
Coal India Ltd (CIL), which is actively pursuing the issue of disinvestment with the Centre, aims to raise Rs 6,000 crore through a stake sell of 10 per cent.
Google/cybersecurity: Google’s cyber-complaint is the tip of an iceberg. Coordinated attacks on IT systems are common, yet companies and governments have kept largely silent. The growth of computer services that rely heavily on the Internet means the stakes are growing higher. That may explain why Google spoke up about recent attempts to steal its intellectual property -- and why the U.S. State Department has also taken China to task.
Spurred by growth in the number of policies renewed, commission expenses of the life insurance industry grew by 5.64 per cent in 2008-09 to Rs 15,533 crore as against Rs 14,704 crore in the corresponding period last year.
The Mines Ministry is expected to send the 20-per cent share sale proposal of state-run Hindustan Copper to Disinvestment Department next week, a move that may help realise an estimated Rs 11,000 crore.
State-run NTPC has undertaken 17 projects across the country for capacity addition of 17,930 Mw of power in the road map to achieve 75,000 Mw generation capacity by 2017.
Economists were "slightly surprised" by the extent of hike (75 basis points) in mandatory cash reserves of banks held by the Reserve Bank, but felt that the apex bank"s move was strongly influenced by rising inflationary pressures.
The Reserve Bank of India, in its Monetary Policy review today has hiked the Cash Reserve Ratio (CRR) by 75 basis points (bps) to 5.75 per cent, while holding the repo and reverse repo rates steady in line with market expectations.
As corporate India expands globally, it must communicate diplomatically. Excellent communication is the key to effective corporate public affairs and global diplomacy. Without a comprehensive communications strategy that embraces all important stakeholders, those who interact with the company and form its business environment, global corporate diplomacy cannot be effective.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.
Talking to the civil servants, Prime Minister Manmohan Singh today asked them to be innovative and quick, saying people resent "apathy, sloth and corruption" at any level of government more than ever before.
Kiran and Shiv Nadar will throw open their collection of art this evening at the HCL Technologies campus in Noida. Kishore Singh gets a preview before the formal opening of this private art museum, the first of its kind
A major tax reform like goods and services tax (GST) is a challenge and considerable preparation is necessary before implementing it. There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy (NIPFP).
Bharti Airtel, in a major management restructuring today, appointed Sanjay Kapoor as CEO of India and South Asia operations. Kapoor replaces Manoj Kohli, who will now be the CEO of newly created entity International Business Group of Bharti Airtel and joint managing director.
Tata Communications has signed an agreement with the Qatar-based Qtel for a new undersea cable network that will connect a number of regional operators in the Gulf region with the country.
The government is unlikely to allow any merger or acquisitions among the third generation, or 3G, mobile service providers to ensure competition.
Finally starting the process to auction 3G spectrum to potential telecom operators, the government is likely to issue guidelines giving details about the number of blocks to be sold and other related information.
The government is unlikely to allow any merger or acquisitions among the third generation, or 3G, mobile service providers to ensure competition.
Indian stocks trading on American bourses lost $3.85 billion (around Rs 18,000 crore) from their total market valuation last week, with HDFC Bank and Sterlite Industries leading the pack.
The scrip erased all its gains and slipped into the negative to touch a low of Rs 356 and finally ended at Rs 362, down 2% from the previous close. The counter witnessed trades of 36,792 shares on the BSE as compared to the two-week daily average traded volumes of 4,417 shares on the BSE.
Tata Communications has signed an agreement with the Qatar-based Qtel for a new undersea cable network that will connect a number of regional operators in the Gulf region with the country.
The Bharti group, which has just acquired a majority stake in the Bangladeshi mobile operator Warid Telecom, is on the lookout to acquire government-owned telcos in developing countries like Africa which are up for divestment.
The Institute of Company Secretaries of India (ICSI) and Aptech Limited, the global provider of learning solutions, have entered into a tie-up to impart information technology training to ICSI students and members across India. Accordingly, Aptech’s specially designed task-oriented programme titled ‘Understanding Information Technology in the Corporate Environment,’ trains students in high-end personal computing skills including MS Office, computerised accounting with special modules on IT laws and security, e-commerce.The programme will be conducted across over 170 Aptech centres in India. The duration will be 70 hours followed by an 80-minute long online assessment.
GTL Infrastructure, which today agreed to buy the tower business of Aircel, plans to have a footprint of 50,000 towers over the next three years, company"s Chairman Manoj Tirodkar said here today.
Global mining major Vedanta group today said that the Orissa government has assured it of raw material supply to run its aluminia refinery in the state.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.