Corporate
The bourses have opened firm, tracking gains in the US and Asia. The Sensex is quoting at 17,314, higher by 125 points, and the Nifty is at 5,170, up 35 points.
Essar Group today said it will invest $400 million in upgrading the refinery it had bought in Kenya.
The Sensex is swinging between zones owing to alternate bouts of buying and selling. The index is now at 16,878, down 34 points.
The Sensex touched a high of 16,943 and is now flat at 16,931, up 18 points.
Shares of Voltas spurted 20.55 per cent to Rs 118.2 on announcement of decent FY09 results. Net profit for the year ended March 31, 2009, increased by 21 per cent to Rs 251.40 crore, while total income rose 34 per cent to Rs 4,361.72 crore during the period.
The markets are likely to open on a flat note this morning on the back of mixed global cues. The indices yesterday attempted a pullback but eventually ended with marginal gains as selling pressure persisted on every rise.
In a first at the National Institute of Design (NID), academic profiles were offered to the graduating batch of young designers during placements this year. The annual industry interface at NID campuses in Ahmedabad and Gandhinagar saw around 70 firms visiting the campus. Apart from academics, profiles in auto design, apparel design, retail, and product design were offered by some of the biggies like Honda R&D, Bajaj Auto, LG, Madura Garments, TAFE, Luxor, Godrej Industries Limited, and Godrej & Boyce Manufacturing.
After the contents of his note to the prime minister were made public, Environment Minister Jairam Ramesh called up the AIADMK leader in the Rajya Sabha, D Maitreyan, to see if his ideas could get some support across the political spectrum. When Jairam said he wanted to discuss the policy on climate change with him, Maitreyan was quick to respond, “ Look Jairam, if it is political change, our Madam is ready…” Never one to be caught without a reply, Jairam was equally quick to quip, “I am now tasked with only geographical climate change … political climate is in the hands of our Madam…”
German commercial vehicle maker Daimler today said it would introduce lightweight trucks from Mitsubishi Fuso stable in the Indian market by 2010 as part of its expansion strategy in the country"s auto mart.
Bhushan Steel (Australia)’s acquisition of Australian coal and mineral exploration company, Bowen Energy, has hit the Australian Takeovers Panel hurdle, with the board ordering a re-valuation of the coal tenements held by Bowen.
The US-based private equity firm Norwest Venture Partners (NVP) today said it would pick up a little over 2 per cent stake in NSE, the country"s largest stock exchange in terms of trading volume, for about Rs 252 crore, valuing the bourse at over Rs 12,000 crore.
The Asian markets ended in the red.
Kerala Tourism has launched an online training programme to help travel agents and tour operators in the UK get acquainted with the state’s tourism products and in turn increase UK sales to Kerala.
The National Consumer Commission has held that commercial users cannot move against service providers for any deficiency in service under the Consumer Protection Act.
Falcon Realty today announced its plans to build eco-friendly housing projects at affordable prices starting from Rs 5.5 lakh in various cities of Bihar.
Poor performance from Whyte and Mackay and adverse foreign exchange movements pulled down United Spirits’ consolidated numbers for 2008-09. The liquor firm reported a loss of Rs 410 crore.
General Electric"s financial services arm GE Capital has appointed Steve Sargent as the President and CEO for its Asia Pacific operations.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
DHL, world"s leading logistics company announced today that its freight forwarding division DHL Global Forwarding has signed a security partnership with Air India-SATS, Bengaluru.
The government today said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore for delay in the payment of tax deduction at source (TDS).
Kolkata-based FMCG major Emami Limited has raised Rs 310 crore through a qualified institutional placement (QIP) issue.
Asian stocks rose, lifting the MSCI Asia Pacific Index to a two-week high, on speculation the Bank of Japan would enact measures to limit the yen’s gains, and as Chinese manufacturing grew at the fastest pace in five years.
Pricing problems, poor localisation put the Mahindra-Renault sedan in reverse gear.
To add punch to IAF’s fleet of Sukhoi, Mig-29, Mirage-2000, Tejas.
Vandana Gombar / New Delhi January 08, 2010, 0:45 IST
The country"s second largest two-wheeler maker, Bajaj, today reported a 14.62 per cent increase in its motorcycle sales at 2,49,133 units in September.
Eicher Motors Group company Royal Enfield today launched two bikes, Classic 350 and Classic 500, priced at Rs 98,086 and Rs 1.25 lakh (ex-showroom Delhi) respectively.
The market is likely to be volatile on the last day of the expiry of the December series as rollovers in index and stocks futures on the penultimate day were substantially lower than the same time last month.
Dampening the Christmas mood, leading steel maker Tata Steel has jacked up prices by Rs 2000 a tonne, while the state-run Steel Authority of India (SAIL) has discontinued the discounts with immediate effect, on the back of rising demand.
The stock extended gains and surged to a new 52-week high of Rs 360 - up 6.5%. It finally ended at Rs 355, up 4.7%. The counter clocked comparatively heavy volumes of 15,401 shares as against its two-week daily average trade of 3,486.
Japanese auto maker Honda today said it will hold the world premiere of the concept model of a new small car that has been developed keeping the Indian market in focus at the Auto Expo here next month.
Volkswagen, Europe’s largest car maker, has bought 19.9 per cent stake in Suzuki Motor Corporation, Japan’s third largest carmaker, for $2.5 billion. Of course, Suzuki’s strength is in small cars and Volkswagen’s stated mission is to become the world’s largest car company, ahead of Toyota and General Motors. And that’s not possible unless you have a bevy of small cars in your portfolio. A full takeover would have given Volkswagen annual volumes of 4.4 million cars — way ahead of Toyota’s 3.5 million. At the moment, Volkswagen-Suzuki is merely an alliance.
The issues of land acquisition and ways to remove problems faced by foreign and domestic investors, especially at the implementation stage, are likely to come up at a meeting the Centre will hold with state industry ministers here tomorrow.
US network equipment major Cisco will be acquiring Norway-based video communications entity Tandberg in an all cash deal worth $3 billion.
While addressing a conference hosted by The Energy and Resources Institute (Teri), its director general RK Pachauri said that Environment Minister Jairam Ramesh would give Teri Rs 1 crore for a campaign to spread awareness about protecting the environment. He then said, “I now request Mr Ramesh to share his wisdom with all of us.” To which , Ramesh replied, “I can only share my wisdom but cannot give you Rs 1 crore.” Before Ramesh could say anything further, Pachauri remarked, “This means now we’ll get Rs 2 crore from the minister. Three cheers for Jairam Ramesh!”
The government will try to pass the National Green Tribunal Bill, 2009, in the current Parliament session. The Bill aims at establishing an autonomous tribunal, independent of the Ministry of Environment and Forests (MoEF), for environmental clearance of development projects and providing relief and compensation to people affected by natural calamities.
India today said it is not looking at finalising negotiations with the US on a pact on reprocessing of spent fuel, a key step in implementation of the nuclear deal, during summit talks between Prime Minister Manmohan Singh and President Barack Obama here.
Buoyed by optimism, offshoots of economic revival and more stable job market vis-à-vis 2009, the people are loosening their purse strings and splurging on shopping sprees to mark the arrival of 2010.
Ending months of uncertainty over their joint project to make an ultra-low-cost car, Bajaj Auto and Renault-Nissan have signed an agreement delineating their roles and fixing 2012 as the year when the car will hit the market.
FIIs like DSP Blackrock, Prudential step in with buys.
Swaraj Baggonkar / Mumbai November 10, 2009, 1:10 IST
The Delhi Development Authority is readying over 5,000 flats in South Delhi for accommodating tourists during the Commonwealth Games 2010.
Noted economist Suman Bery is both passionate and learned about this art form.
The Internet Corporation for Assigned Names and Numbers, or Icann, has set the ball rolling for web addresses in scripts other than Latin. This will allow uniform resource locators (URLs), as web addresses are called in virtual parlance, in languages other than English, including Hindi, Tamil or Bhojpuri.
With an average internet connection speed of 1,100 Kbps for the second quarter of 2009, Karnataka has been ranked second in a study of the top 10 Indian states for their average connection speeds. The state has recorded a 32 per cent increase in the average connection speed over last year.
Galleon Group LLC, the hedge fund firm at the center of a $20-million insider trading prosecution, came to the attention of prosecutors by 2001 for allegedly soliciting internal data on Silicon Valley companies.
On account of exhausting mobile phone numbers starting with the digit 9, the Department of Telecom (DoT) has allotted Reliance Communications (RCom) a new series beginning with the digit 8(055) for its Maharashtra and Goa circle (M&G).
Bajaj Auto is betting big on its Pulsar bike and plans to ramp up production to 90,000 units per month in the next six months with a sales target of 1 million units per annum by the end of next financial year.
With the Indian economy showing signs of leaving the recession behind, companies from the US are once again making a beeline to the India shores scouting for opportunities. Companies from varied sectors are looking to test the waters with an investment in mind at a later stage. “Last year, things were rocky and very few trade delegations came to India. However in the last one and half months, things have turned around,”said Sandeep Mehra, committee member, Indo American Chamber of Commerce (IACC), Karnataka branch.
Cross 1-million mark on surge in commercial vehicle sales.
A third strike in nine months loomed large over Hyundai Motor India (HMIL) with a section of workers today saying that they will go ahead with a tools-down agitation if the management or the state labour department do not act positively on their demands.
As if last year wasn’t difficult enough, Baba Kalyani has said quite clearly that the current year would remain a challenging one for his company. The chairman and managing director of Bharat Forge believes it could be a while before inventories are cleared and sales revive, especially in the commercial vehicle (CV) space. The auto parts maker, a victim of the severe depression in the world automobile markets, saw consolidated sales rise just under 3 per cent last year to Rs 4,774 crore.
Drug firm Merck today reported a net profit of Rs 11.88 crore for quarter ended on June 30, 2009, a decrease of 34 per cent over the same period last year.
Battery major Exide Industries today said its net profit rose by 48.90 per cent to Rs 122.40 crore for the quarter ended June 30, 2009, over the same period last year.
World"s largest car maker Toyota today said it is looking to expand its dealership network in the country with plans to have a total of 150 outlets by 2010.
Tata Steel plunged over 4% to settle at Rs 443. The counter saw trades of around 4.80 million shares against its two-week average quantity of 4.15 million shares.
Fortis advanced 1.5% to Rs 102. The stock touched an intra-day high of Rs 105 and a low of Rs 101. Around 275,716 shares were traded as against its two-week average traded quantity of 338,454 shares.
In order to check price escalation in pulses, Gujarat government has imposed stock limit on pulses. As per the notification issued last week, the stock limit for whole-sellers is 100 tonnes and for retailer it is 50 tonnes.
The outgoing president of SIAM Ravi Kant today called for a need to continue government -industry partnership to ensure investments in the sector are used productively.
Buoyed by healthy growth in the first quarter, public sector Corporation Bank today said it expects its total business to cross Rs 1,50,000-crore mark during the current fiscal.
Without a strong global economic recovery, the maritime sector will find it tough to overcome the demand-supply mismatch.
With the state-owned BSNL’s 93-million-line tender once again the subject of a controversy, it’s but natural to elicit the views of Ericsson’s global president and CEO CARL-HENRIC SVANBERG on this. Svanberg, however, refuses to bite, except to say that the tendering procedures for BSNL have to be so transparent, it is not surprising they take so long. He is more concerned about how telecom can save the world from global warming and how India can transform itself with 3G technologies. Excerpts from an interview with SUNIL JAIN:
Auto major Mahindra & Mahindra today reported 18.72 per cent growth in its total automotive sales in June at 22,999 units compared with 19,371 units in the corresponding month last year.
Shri Renuka Sugars has acquired "Vale Do Ivai S.A Acucar E Alcool (VDI)", a Brazilian sugar and ethanol production company. The acquisition includes two sugar and ethanol production facilities located in the southern state of Parana with a combined cane crushing capacity of 3.1 mn tonnes per annum. In addition, VDI holds strategic stakes in several logistics assets including terminals for staoarge and loading of sugar and ethanol at the port of Paranagua. Larger part of the sugarcane requirements at VDI are met through its own cultivation of more than 18,000 hectares of land on long lease.
The Sensex has opened down 22 points at 16,826. The index is now down 25 points at 16,825.
Tata Steel"s net profit dipped 49.4 per cent to Rs 902.94 crore in the second quarter of 2009 compared to Rs 1787.81 crore in the quarter ended September 30, 2008. Its total income plunged 18.23 per cent from Rs 7054.33 crore for the quarter ended September 30, 2008 to Rs 5768.16 crore for the quarter ended September 30, 2009.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said today.
Despite uncertainties over cane pricing, sugar mills in Uttar Pradesh plan to commence crushing as early as possible, in order to avoid any recovery loss which may impact their operating performance.
Vodafone’s much talked about Zoozoos were in the news again. This time round it was thanks to a merchandising tie-up with Shoppers Stop. Now Zoozoo fans had the opportunity to bring the fictional, winsome characters back into their lives, as a part of their apparel and attitude. Thinking back to the release of the Vodafone Campaign during the IPL, the response and stir created seemed almost unprecedented. By the time the first few ads were on air, Zoozoos had mutated from television screens to laptop wallpapers, editorial features, mobile screen savers and facebook wall posts and fan pages. The campaign managed to convert consumers into fansumers, i.e. endorsers and subscribers to the brand.
Most US companies are not planning to reverse the pay cuts made in executive salaries during the economic crisis in the next six months despite the improving economic climate, a survey by HR consultancy Watson Wyatt says.
Stating that Nationalist Congress Party (NCP) won"t join the Congress-led government in Maharashtra till the issue of portfolio sharing was resolved, Deputy Chief Minister Chhagan Bhujbal today said his party is ready to extend outside support to the new government till then.
The British government is planning to pump in an additional capital of up to 19 billion pound into the Royal Bank of Scotland (RBS) and hike its stake to as much as 84 per cent, a move that would virtually nationalise the bank.
China"s top 500 companies outperformed their US counterparts for the first time last year, a survey conducted by a business group has revealed, as the financial crisis wreaked havoc in the United States.
With government formation in Maharashtra being delayed, Governor S C Jamir has called caretaker Chief Minister Ashok Chavan and Deputy Chief Minister Chhagan Bhujbal for talks.
Trinamool Congress, Left blame each other for starting violence
Sidhartha / Mumbai October 28, 2009, 0:06 IST
IDBI Bank has taken an initiative to strengthen its base in the mid-corporate, SME and retail sectors without compromising its pre-eminent position in the corporate banking business.
With bank deposit rates in a free fall for the last one year, company fixed deposits have started finding many takers.
The Steel Ministry has sent the proposal to sell 10 per cent of the government"s holding in state-run Manganese Ore India Ltd to the Department of Disinvestment, Parliament was told today.
The Chennai-based Indian Overseas Bank (IOB) intends to go for Business Process Re-engineering (BPR) of its operations as a performance boosting measure.
The International Monetary Fund, which sold 200 tonnes of gold for about $6.7 billion to the Reserve Bank of India, today said it got a "good price," and wants to be similarly "lucky" in the next phase sale of the precious metal.
Public sector lender Bank of Maharashtra"s net profit for the July-September quarter stood at Rs 86.68 crore, up 22.86 per cent against Rs 70.55 crore reported over the same period a year back.
Finance Minister Pranab Mukherjee today said it is premature to "exit" the fiscal stimulus as the global economy is not showing robust recovery, but was optimistic about economic growth.
The banking stocks continue to rule high on the back of stimulus measures by the Reserve Bank of India that helped revival of economic growth and attraction of foreign funds. Key economic data like the recent Index of Industrial Production (IIP) indicated likely swift recovery of the economy. Factory output at 10.4% in August registered the highest growth rate in 22 months.
ICICI Bank today said it would reduce its stake in BPO company Firstsource in a phased manner, even as there are reports of appointment of a merchant banker for exiting from the outsourcing company.
The stock dipped further to a low of Rs 19.50 - down 7% from the day"s high. It finally ended with a 5% loss at Rs 19.75. Over 7.41 million shares were traded on the BSE today.
Fortis Healthcare is likely to come up with two low-cost hospitals in two years in an effort to test its affordable health care model. Although the firm is reluctant to divulge the exact locations of these greenfield ventures or the total investment into the project, the health care major is likely to open these hospitals in north and western India while attempting to cut down its capital expenditure there by about 50 per cent.
PROFILE
I am a retired army pensioner and have deposited all my savings in bank fixed deposits. But I am losing a considerable amount on account of TDS, which the bank deducts on the interest payments. Currently, I want to invest Rs 1 lakh in some debt fund with a horizon period of one year. Please suggest some good mutual funds which can yield more income than bank fixed deposits and be tax friendly. Being retired, I cannot go for equity schemes.
PROFILE
While growth signs are visible in the economy, robust earnings growth across sectors is a couple of quarters away
Finance Minister Pranab Mukherjee today signalled that the government’s economic reform strategy would focus on fiscal consolidation, debt management and mobilising additional resources through disinvestment proceeds. The emphasis would be on curbing subsidies and promoting private sector investment by continuing stimulus measures.
Goldman Sachs Group Inc’s forecast that Brazil, Russia, India and China would eventually eclipse the Group of Seven countries economically has been described as “the biggest market call of the decade.”
BS Reporter / Mumbai October 27, 2009, 0:18 IST
Facing a fiscal deficit of 6.8 per cent of Gross Domestic Product for the current financial year, the government is likely to delay for a year or two the National Investment Fund (NIF), a move that will enable it to keep disinvestment proceeds in the Consolidated Fund of India (CFI).
There has been an all-round deterioration in the financial condition of Uttar Pradesh and the state may be heading towards "fiscal stress" in the medium-to-long term, says the Comptroller and Auditor General of India.
The first series of monthly wholesale price index (WPI) data showed that headline inflation rose marginally to 1.34 per cent in October, primarily due to a year-on-year increase in fuel prices. The inflation rate was 0.5 per cent in September and 11.06 per cent in October 2008.
The Indian Institute of Management-Lucknow is organising an ‘India SME conclave’ on December 21 to discuss the competitiveness of the sector in the backdrop of the Free Trade Agreement (FTA) era. The small and medium enterprises (SME) sector is the growth engine of the Indian economy and contributes over 40 per cent to the country’s industrial output and around 35 per cent to direct exports. The theme of the conclave is ‘Low cost financing options and the impact of FTAs on the SME sector in India’.
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
The Reserve Bank today said it will ask banks to furnish details regarding their exposure in the Dubai World, a government-owned firm that has requested postponement of $59 billion loan repayment, said RBI deputygovernor Shyamala Gopinath here.
Loan sanction limit of a year from Oct.
Equity infusion in Max India by Goldman Sachs will help the company expand its insurance and other businesses
Polling for by-elections to two Tamil Nadu Assembly constituencies began this morning amidst tight security.
Engineering and construction firm Jaihind Projects today said it has bagged an order worth Rs 14.05 crore from Bharat Petroleum Corporation Ltd (BPCL) for a pipeline project.
Diversified business house Hero Group has shelved plans to enter the commercial vehicle (CV )segment, for which it had partnered German firm Daimler to produce trucks, due to the economic slowdown.
Using energy more efficiently can reduce our energy needs by 20 per cent; it is a strategy we must pursue even as we promote renewables.
The Deputy Chief Minister of Punjab Sukhbir Singh Badal today urged Farooq Abdullah, Union Minister for New and Renewable Energy to enhance the central subsidy for solar water pumping systems for irrigation and allied purposes from Rs 30 per watt to Rs 100 per watt to make the system viable for small and marginal farmers.
The state-owned oil exploration major ONGC is eyeing 20-25 per cent stake in a giant Iranian gas field even as it awaits Tehran"s nod for its plan to develop a gas field it had discovered two years ago.
Steel magnate Lakshmi Mittal has pulled out of a project involving development of an oilfield in Kazakhstan in partnership with Oil and Natural Gas Corporation (ONGC). It is now looking for buyers for its stake in another company in the Central Asian nation.
Samruddhi Cement, a wholly-owned subsidiary of Grasim Industries, is all set to merge with UltraTech Cement – Grasim’s another subsidiary, on July 1, 2010. The merger, to be completed by September 2010, will result into world’s tenth-largest cement maker.
Steel czar Lakshmi N Mittal today said initial installations at the Bhatinda oil refinery is likely to come up in the first half of 2011 and the project is not facing any major hurdles.
State-run Indian Oil Corporation (IOCL) has proposed to double its investments on its Research and Development in order to develop newer technologies, a top company official said today.
Two senior officials of AES Corporation are likely to visit Orissa on 17 November to hold discussion with the government officials pertaining to the proposed expansion of the unit-3 & 4 (660Mw x 2) of the IB Thermal Power Station of the Orissa Power Generation Corporation (OPGC).
Industrial output, as measured by the index of industrial production (IIP), grew by 9.12 per cent in September, up from 6 per cent in September 2008. It was mariginally lower than the 10.4 per cent in August this year.
The Nifty closed below its support zone of 4,400-4,500 on weak global cues and profit-booking. Worries about the pace of the global economic recovery and poor monsoon added to the gloom. Metals, realty and oil & gas stocks led the sell-off. By the close of the Indian trading session, European markets were down over 2 per cent. The 158 declines in Dow futures indicated a weak opening.
Timothy Geithner / November 1, 2009, 0:58 IST
S M Krishna / October 4, 2009, 0:45 IST
As part of strengthening e-governance initiative, Karnataka government today launched the Karnataka State Wide Area Network (KSWAN) that seeks to establish a state information highway connecting its 2300 offices across the state.
The petition filed by Nandini Raju, wife of Satyam Computer Services’ jailed founder, B Ramalinga Raju, seeking the court’s permission for her to bear his medical treatment expenses, has been posted for tomorrow.
Some trends of the decade in popular music, encompassing hits, losses, challenges, rivalries, victories, tv, movies — and himesh reshammiya.
Imagine walking into a washroom at one of the multiplexes and being welcomed with a message that terms you “the Fourth Idiot”. Don’t feel offended as you are just watching the promotion of 3Idiots, an Aamir Kan-starrer to be released this Friday.
Saurabh Kumar / New Delhi December 20, 2009, 0:30 IST
Subir Roy / New Delhi November 27, 2009, 0:31 IST
Imagine you are having dinner with some friends, and in walks Shahrukh Khan or someone equally famous. You get a picture clicked with him and want to share it with the world instantly. But how do you go about it since you can’t possibly wait till you get home and transfer the pictures to home PC.
Mukesh Ambani, India’s richest man and chairman of the country’s largest private sector company, Reliance Industries, has been ranked the fifth-best CEO in the world by Harvard Business Review.
India’s largest private sector telecom player Bharti Airtel has launched a triple-play arcade puzzle game Getris on all three services of Airtel — mobile, Internet and direct to home (DTH).
Rising coal prices cited as reason.
The road to Lalgarh, in the heart of West Bengal’s Naxal badlands, is now secure. But it is still a distance too far for many of the districts" administrators to travel.
The Videocon Group’s move to set up a 3-million-tonne-per-annum steel plant and a 1,200-Mw power project over a patch of coal-bearing area at Jamuria, near Asansol (West Bengal), has been opposed by state-owned Coal India Limited (CIL), the world’s single-largest coal miner.
The largest private sector lender ICICI Bank can soon operate as a local bank in Singapore, following an in-principal approval from the city-state.
Amid fierce competition with per second tariff pulse, which is affecting their top line, the mobile operators are now focusing on value added services, such as, callertunes, ringtones and others to make up for the depleting revenues.
GVK Power & Infrastructure, which recently took a 12 per cent stake in Bangalore International Airport Ltd (BIAL), has said it is open to taking a controlling stake in the airport.
Rises only 2% from Q1, with cement, oil & gas, power, telecom all holding back.
Prices are Rs 35 a kg more than last year.
Uncertainty surrounds the proposed IT investment region in Orissa with the state government not showing any resolve to expedite the project.
Mahanadi Coalfields Limited (MCL) has entered into a memorandum of understanding (MoU) with National Informatics Centre Services Incorporated (NICSI) and National Informatics Centre (NIC) of Government of India for providing e-procurement services to MCL on a long term basis.
The rupee today appreciated by 8 paise to hit a month"s high of 46.22 against the US currency in early trade, in line with other firming Asian currencies.
Ranbaxy Laboratories, received the final approval in Canada to manufacture and market Ran-Simvastatin tablets from Health Canada, Therapeutic Products Directorate. The total generic market size of Simvastatin tablets in Canada is $CAD153 million.
The stock recovered some of its losses to finally end at Rs 258, down over 2% from the previous close. Around 691,753 shares were traded on the BSE as compared to the two-week daily average traded volumes of 698,158 shares on the BSE.
The database will be used to find out whether a company has a desirable social diversity.
When telecom executives went into a meeting with Communications Minister A Raja on Tuesday evening inside the peeling walls of Sanchar Bhawan in New Delhi, they may have believed that things were so bad they could not get any worse. They were wrong. The highlight of the meeting was Raja asking mobile telephony operators to reduce termination charges, the money that an operator pays another to whose network the call is made.
Apalya Technologies Private Limited, a Hyderabad-based mobile video platform developer, is planning to enter overseas markets with its flagship mobile live streaming and video on-demand product ‘MimobiTV’ by the second quarter of the next financial year.
Scenting opportunity in the budget hotel segment, diversified conglomerate Tata Group plans to construct 50 hotels of its no-frills chain -- Ginger -- across India in the next four years.
Petroleum PSUs have not made any significant new find in oil and gas reserves in recent years, Minister of State for Petroleum Jitin Prasada told the Lok Sabha today.
Vandana / Mumbai December 9, 2009, 0:28 IST