International Business
Former Maharashtra Pradesh Congress Committee (MPCC) president Ranjeet Deshmukh has urged the newly elected Congress Legislative Party (CLP) leader and incumbent Chief Minister Ashok Chavan to give the post of deputy chief minister to an MLA from Vidarbha region.
SET Max, the official broadcasters of the Indian Premier League (IPL)cricket tournament, has already hit a sixer with the third edition of the twenty20 league. The channel is estimated to rake in over Rs 650 crore, 30 per cent higher than it got in IPL-2.
The Indian Cricket Board today shifted the second one-dayer of the five-match series between India and Sri Lanka to Nagpur after police in Visakhapatnam expressed inability to provide security for the tie in the wake of political crisis in Andhra Pradesh.
The political crisis in Andhra Pradesh over the Telangana issue has hit cricket as well and the BCCI is planning to shift the second India-Sri Lanka one-dayer in Visakhapatnam to another venue due to security concerns.
Business Standard / New Delhi December 11, 2009, 0:03 IST
Significant new capacities in the coming months could depress cement prices leading to a drop in profitability
Environment Minsiter Jairam Ramesh will from Wednesday hold a series of public meetings across the country on the controversial Bt brinjal which was cleared by the country"s bio-technology regulator last year for its commercial cultivation.
Members in the Rajya Sabha today took strong exception to halting of work at Ladakh border road because of Chinese objection and said it was "humiliating" and a "challenge to India"s sovereignty". Raising the issue in Zero Hour, Shreegopal Vyas (BJP) said, "It is very humiliating and a challenge to India"s sovereignty."
Shobhana Subramanian / New Delhi August 28, 2009, 0:44 IST
Cash management solutions provider Fundtech India Ltd is entering the European banking sector with its product Global CashPlus. The Pune-based company has already signed deals with 12 Asian banks and a European bank for its product and plans to have 18 to 20 international banks under its belt by March 2010.
Technology may just get you love, or so it seems according to a new report from internet security firm Symantec which reveals that more than a third of adults have used the web to flirt. The 45 million active internet users in India have been steadily using the web to socialise with people.
The Union government has withdrawn four of the six directors appointed by it on the board of Satyam Computer Services Limited. The government has taken this decision following the permission granted by the Company Law Board (CLB) to this effect.
Bangladesh will send a 10-member parliamentary delegation to India next week to discuss the issue of cross-border Tipaimukh Dam as Dhaka again expressed its concern over the project on Barak River in Manipur.
Concerned over reports of some Indian students in Australia retaliating in the wake of spate of attacks on them, Government today asked them to exercise restraint.
India should not lift ban on the export of non-basmati rice, especially in view of the proposed Food Security Act, as demand under the public distribution system is set to rise, according to the Centre for Environment and Food Security (CEFC).
With the global venture capital industry showing signs of recovery, investment levels into India are expected to increase the most compared to others in the Asia-Pacific region over next three years, says a survey by Deloitte.
The Asia-Pacific region will account for more than one-third of the global airline losses this year, which is likely to touch a whopping $9 billion, due to recession impacting industry"s bottom line.
Section 80-IB (9) of the Income Tax Act, 1961 (‘Act’) provides for a tax holiday to an undertaking engaged in commercial production of mineral oil or refining of mineral oil. Tax holiday is available for a period of 7 consecutive tax years, starting from the year in which the undertaking begins commercial production or refining of mineral oil.
The Sensex ended the holiday-shortened week by gaining 442 points due to the prevailing positive sentiment. While the index touched a fresh 16-month high of 17,196, it also reclaimed the 17,000-mark for two consecutive days on a closing basis. It finally ended the three-day week at 17,135.
The Sensex ended the holiday-shortened week by gaining 442 points due to the prevailing positive sentiment. While the index touched a fresh 16-month high of 17,196, it also reclaimed the 17,000-mark for two consecutive days on a closing basis. It finally ended the three-day week at 17,135.
Disappointed with the arrest of three of its officials in connection with the chimney disaster incident, Vedanta-controlled Bharat Aluminium Company Limited (Balco) has put the ball on the court of construction companies for the collapse of the structure.
Industrialist Rahul Bajaj today said the government should adopt a carrot and stick policy to bring back Indian money stashed in Swiss banks and suggested that identities of account holders should be protected.
A decade earlier, when the Indian auto market was stagnant and there were not many new models to talk about, there were years when even Maruti Udyog, the market-leader, gave the Delhi Auto Expo a miss. Few manufacturers can afford to do so today.
With convenience and interactivity as its plus points, Web TV has emerged in a big way in India
The US government is preparing to steer General Motors into bankruptcy as early as the end of next week, a plan which would provide billions of dollars more in federal funds to the ailing auto maker, says a media report.
Asking the US corporate sector to build a lasting partnership with India in high technology including the defence sector, new Indian envoy Meera Shankar has said that New Delhi is looking at optimising its ability to procure the best equipment from anywhere in the world.
As the Congress held its fort in the key industrial states of Haryana and Maharashtra and strategically important Arunachal Pradesh, the three incumbent chief Ministers — Bhupinder Singh Hooda, Ashok Chavan and Dorjee Khandu — are likely to retain their place in the new governments.
Results come as a shock for BJP-led coalitions.
In today"s world, popular social networking sites like Twitter and Facebook are without a doubt the best way to stay connected with friends and share what is happening right now.
India and Russia are mulling returning to the rupee-rouble trade arrangement, to end the dependency on the volatile dollar and step up economic interactions.
Rupee dropped, completing the biggest two-day loss in two months, as declines in local stocks spurred speculation capital inflows will slow.
The prodigal son who returns but may not stay, the troubled, dying salesman on the road with his young son, negotiating with the censor to write a love story in Iran, depressurising in Ladakh: a to-read list for today.
Five years after the Naveen Patnaik government was embarassed by the controversy over chromite mining at Tangarpada in Orissa"s Dhenkanal district, the government is now being pressured by opposition parties to order a CBI probe into "illegal" mining and mines lease to industrial houses and individuals.
The district administration of Jagatsinghpur has advised the Essar Steel Orissa Limited to provide a uniform rate for land acquisition for its proposed steel project at Paradip.
The Orissa government has decided to introduce e-Registration of land transfer replacing the present system of manual registration.
The Orissa government plans to issue identity cards to the artisans in the coir sector and the salt workers. A similar process is currently on for the handicraft artisans.
I had invested in Magnum Tax Gain and Fidelity Tax Advantage via Systematic Investment Plans (SIPs). Despite the recent regulation by Sebi abolishing the entry loads, my investments in August were made subject to an entry load. Is the new regulation not applicable for existing investors as well?
Non-convertible debentures have some real benefits over fixed deposits.
Eighteen months after Tata Motors took over beleaguered luxury brands, Jaguar and Land Rover, a strategy of cost-cutting and pushing sales have helped the UK labels to post an operating profit of £41 million (Rs 314.55 crore) during the reporting quarter ending 30 September 2009.
The two major ports in Chennai and Tuticorin are planning to set up wind mills to cater their power requirements. The two ports are planning to invest around Rs 82 crore.
State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to meet the requirements of its local plants.
Former ISRO chairman G Madhavan Nair has decried the tendency to prefer imported foreign systems, though they underperform vis-a-vis indigenous technologies and said global companies are setting up R&D units to “exploit” the vast talent pool in the country.
Chennai-based Pyramid Saimira Theatre Ltd (PSTL) said the company suffered a business loss of over Rs 100 crore last year which resulted in an erosion of working capital. Meanwhile, N Narayanan, one of the promoters of the company, took over as the new chairman from P S Saminathan, who will continue to remain managing director.
After receiving encouraging response from private players in developing a 1,320 Mega Watt Rajpura Thermal Power Project, the Punjab State Electricity Board is expecting to issue a Letter of Intent (LoI) to the successful bidder for this project by the end of this month.
The country"s largest auto maker Tata Motors today said its total sales during December last year more than doubled to 51,627 units, up from 25,219 vehicles sold in December 2008.
After the challenging mission to moon, ISRO today said it has begun preparations for sending a spacecraft to Mars within the next six years.
Infrastructure major Unity Infraprojects today said its joint venture with Axelia Utility Management Pvt Ltd has bagged two orders totalling Rs 620.76 crore.
The designer Nano will hit the streets soon. The world’s cheapest car has generated interest of designers like Dilip Chhabria and former Maruti Suzuki India chief Jagdish Khattar, both of whom are working on a re-designed avatar of the car.
Archana Jahagirdar / New Delhi September 13, 2009, 0:48 IST
Industry body Nasscom today urged the West Bengal government to allot alternate land to information technology (IT) companies Wipro and Infosys, after the Vedic Village fiasco which led to scrapping of the 600-acre IT project at Rajarhat.
Media firm New Delhi Television (NDTV) today said it will buy back NBC Universal"s entire 26 per cent stake in its subsidiary NDTV Networks Plc.
Anand Sharma, Union minister for commerce and industry, must have got used to people addressing him in various ways. But Minister of State for Railways E Ahmed stunned him last week when he was about to enter Parliament. Ahmed was talking to someone outside gate number 4 when Sharma stepped out of the car. “Hello commerce, hello commerce,” Ahmed called Sharma. Sharma acknowledged the joke and responded with a warm smile.
Public Sector lender Central Bank of India today said its net profit declined by 13.25 per cent to Rs 306.44 crore for the third quarter ended December 31, over the corresponding period last fiscal.
Madhya Pradesh is once again facing acute fertiliser shortage this rabi season, Chief Minister Shivraj Singh Chouhan has told the Centre. Soon after sowing wheat and other rabi crops urea was needed during the first watering, growers said, adding that fertiliser dealers hoarded and indulged in black-marketing to mint money from them. A few years ago, the state had faced a severe urea crisis, which had even triggered violence in some areas.
PM Manmohan Singh / New Delhi August 23, 2009, 0:52 IST
The Supreme Court today directed the Election Commission to allot a common symbol of "Railway engine" to Raj Thackeray-led Maharashtra Navnirman Sena (MNS) for contesting the coming assembly elections in Maharashtra.
The proposed helipad atop ‘Seawind’, Mukesh Ambani’s residence in south Mumbai, has got clearance from the Maharashtra Coastal Zone Management Authority (MCZMA), a senior official said today.
Anil Ambani group firm Reliance Money has exited financial services firm Wall Street Finance through sale of its entire 36.8 per cent stake in the company.
Leaders from as many as 43 countries, including Prime Minister Manmohan Singh, are scheduled to attend a nuclear summit convened by US President Barack Obama in April, the White House said today.
Nokia, the dominant force in the handset industry, has spent the major part of 2009 guarding its turf against resurgent rivals like Samsung, LG, Sony Ericsson and Motorola, and also tech powerhouses like Research in Motion (RIM), Apple and HTC. Additionally, Nokia has also been deflecting blows at the operating system level, most notably from Google’s Android and Microsoft’s Windows Mobile.
Prime Minister Manmohan Singh and leaders of emerging countries like Brazil, China and South Africa are expected to make a big push for more space and a stronger voice in global financial institutions at the G-20 Summit starting in Pittsburgh this Thursday.
India has said that developed countries should "not expect miracles" at the key Copenhagen climate summit in December and the goals sought for emission controls should be more "realistic".
With an aim provide innovative products, services and solutions to the rural poor, Villgro, a social enterprise incubator is set to launch "Wantrapreneur 09" Business Plan Competition, which challenges entrepreneurs to come out with innovative technology, solutions (products / services) with direct application at the rural level.
Pharma major Orchid Chemicals and Pharmaceuticals Ltd has set a target to become a $1-billion (Rs 4,900 crore) company in the next three years, said its managing director K Raghavendra Rao. The company registered an income of Rs 1,191.44 crore in 2008-09.
Kiri Dyes and Chemicals today said it will raise up to Rs 150 crore through issue of securities in the domestic and international markets for expanding its business operations.
Business Standard / New Delhi November 18, 2009, 0:15 IST
The process of issuing catch certificates for export of marine products to European Union (EU) is now facing another hurdle. The issue of such certificates has become a complex exercise as the local fishing practices are not in tandem with the requirements of the European Commission (EC).
India and the European Union (EU) have agreed to sign a free trade agreement (FTA) by 2010, though it appears to be a far cry as they still have differences over the inclusion of social issues like labour laws, human rights and environment.
Tata Tea, engaged in tea plantation and processing business, today announced a consolidated net profit of Rs 92.23 crore for the third quarter ended December 31, 2009, down 76.71 per cent over the corresponding period last fiscal.
Amid reports about Mumbai Police Crime Branch Chief Rakesh Maria"s offer to resign if Home Ministry does not clarify allegations levelled against him by Vinita Kamte, the slain IPS officer Ashok Kamte"s widow today said she stands by each and every word in the book written by her.
M J Antony / New Delhi October 14, 2009, 0:01 IST
The Insurance Brokers Association of India (IBAI) today demanded implementation of a mechanism to reduce delays in renewal of licences and dub-bed the recommendations of the Swarup Committee as being “unpractical” and “misconceived”.
A Taliban insurgency and the war in neighbouring Afghanistan have put Pakistan"s nuclear arsenal at risk giving rise to a "troubling" situation, an arms control expert who served as former US President George W Bush"s national security adviser has said.
The government has approved an amendment to the Air Service Agreement between India and Saudi Arabia with a view to enhance bilateral economic relations and promote tourism.
Indian Oil Corporation (IOC), the nation"s largest oil firm, will invest Rs 4,650 crore in laying crude oil and petroleum product pipelines over the next three years, Minister of State for Petroleum and Natural Gas Jitin Parasada said today.
As government mulls hiving off Oil and Natural Gas Corporation"s (ONGC) Assam oilfields, state-owned Oil India has said it is willing to take over the assets and can run the fields more efficiently than that the current owner.
Dubai-based Emirates Airlines has become the world"s largest airline operator of Boeing 777 aircraft with the arrival of its 78th Boeing 777.
Disney Interactive Media Group (DIMG), a division of Walt Disney Company, is contemplating introducing localised console and PC games for the Indian market shortly.
Navy Chief Admiral Sureesh Mehta today said negotiations between India and Russia over price of aircraft carrier Admiral Gorshkov could be concluded within next two days.
A few students in Hyderabad could not reach the test centres in time to appear for the Common Admission Test (CAT) today, the penultimate day of the computer-based test, due to the bandh call given by the Telangana Rashtra Samithi, a political outfit fighting for a separate statehood for Telanagana.
Microsoft Windows 7, Adobe, Symantec software stuck at Customs over excise duty
With its advanced features, Microsoft’s Windows 7 comes off better than Vista and the last generation Windows XP
Riding high on a 6-7 per cent expected economic growth and signs of global economy gradually bouncing back, India Inc is likely to hire 20-30 per cent more talent in 2010, a top industry official said.
Corporate India is getting ready with hiring plans and higher pay packets for 2010, as signs of economic recovery are becoming visible along with a rising confidence in the economy"s growth.
Jai Arjun Singh / New Delhi October 10, 2009, 0:51 IST
What does a Taylor guitar worth $3,500 have in common with a pornographic comic-strip Indian bhabhi? The curves, sure, but they both also have songs protesting their mistreatment. In the process, they’ve got the Net buzzing.
For several months, construction work for the Saket metro station has been going on just outside the block of flats we live in, and the sight of a giant crane hovering over the tops of neighbouring houses makes for a grand view, especially after dark. In every other respect our enclosed colony park is quiet as a village green, but here’s an enormous, brightly lit mechanical pulley moving back and forth in a portion of the sky. It makes us feel like characters in John Wyndham novels set in quiet British towns where nothing much was ever expected to happen.
Hopes to capture 7-10% share of the multimedia segment.
A Sharma / New Delhi December 12, 2009, 0:05 IST
Indiabulls Power has fixed a price band of Rs 40-45 per share for its proposed initial public offering (IPO) through which the company aims to mop up more than Rs 1,700 crore from the market.
Sectoral watchdog Insurance Regulatory and Development Authority (Irda) today asked insurance companies to provide information on commission paid to the banks for selling policies.
Ashish Sinha / New Delhi August 25, 2009, 0:40 IST
Media conglomerate News Corp has posted a loss of $203 million for the fourth quarter ended June 30, primarily bogged down by impairment charges.
- Brokerages, fund houses whet Indian appetite for investments abroad - Any hardening of rates due to govt borrowings a worry: Jindal - 'Challenge is to raise credit flow' - RBI"s status quo, HUL numbers take toll - As it should be - RBI sees recovery, but wary of inflation
The budget is big on rural India and allocations for the Bharat Nirman project, for instance, have been hiked 45 per cent over those allocated in Budget 2008-09 — within this, allocations for projects like the Pradhan Mantri Gram Sadak Yojana have been hiked 59 per cent. While that’s all very well, it would be a good idea to see what’s happening on the government’s plans for connecting rural India, not by roads but by telephones. As compared to urban areas where around 90 per cent of people have phones, tele-density is just around 15 per cent for rural India.
- Bank stocks surge on hope of better profits - SBI upbeat on foreign growth, to scale up Singapore ops - Scarce lending by banks hitting tractor sales, complains sector - Unitech Wireless raises Rs 5,000 cr for network roll out - Advance tax collections shore up in Q2 - SAIL"s Bhilai Steel Plant bank account attached
The country’s largest lender, State Bank of India (SBI), has chalked out strategies to grow aggressively in overseas markets, especially Singapore, in this fiscal, a top SBI official said. This would help the Indian banking behemoth to move a step closer to consolidate its position in the global financial services industry.
Unitech Wireless, the joint venture between realty major Unitech and Norway"s Telenor, has raised Rs 5,000 crore as loan from State Bank of India to finance the roll-out of its network as the firm will be launching mobile services in next three months.
The Registrar of Companies has given a clean chit to Reliance Industries, while disposing of complaints that its merger with Reliance Petroleum would benefit only promoter Mukesh Ambani.
Dollar weakness and higher inflation fears are pushing the yellow metal higher
Gold is likely to touch Rs 18,000 per 10 grams during the forthcoming festival season as the demand for the yellow metal peaks around Diwali time, according to a projection by industry body Assocham.
- Getting rid of government controls - For the risk-takers - High on expectations - Commodity to the rescue - Policy to guide infra growth - Betting on bonds
Business Standard / New Delhi September 16, 2009, 0:29 IST
With power situation improving following good rains, Karnataka minister for energy K S Eshwarappa today said urban areas would get 22 hours of supply a day from August one, while load-shedding in rural ones would be to the extent of 14 hours. In Bangalore, the Bangalore Electricity Supply company (Bescom) has said it would make all efforts to provide 24-hour power supply, he told reporters here. Rural areas would get power supply for five hours in case of single-phase and five hours for irrigation purpose (IP sets) which means they would face load-shedding for 14 hours.
The release of the much awaited Goods and Services Tax (GST) discussion paper by the Empowered Committee of State Finance Ministers is a welcome step forward in the reform of the indirect tax regime in India. However, the paper falls far short of expectations. The GST design the State Finance Ministers (SFCSs) have opted for is a compromise, which could prove to be neither good economics nor good politics.
After voting with sworn political enemy Bharatiya Janata Party (BJP) against its one-time ally, the United Progressive Alliance (UPA) last year, the Left is again considering floor co-ordination with the saffron brigade in Parliament.
After trouncing Congress by winning five out of seven seats in Gujarat by polls on Monday, BJP today surprised the rival by taking over the reins of Gujarat Cricket Association (GCA) from Congress. Gujarat chief minister Narendra Modi was elected as its president in the Annual General Meeting (AGM) of the body.
Before the introduction of the goods and services tax (GST), a crucial doubt of many states remains to be cleared: would they be compromising on their fiscal autonomy or the power to tinker with the tax rates when the new regime is rolled out?
Shahana Joshi / New Delhi November 11, 2009, 0:34 IST
The country’s burgeoning mutual fund industry is expected to see its assets growing by 29 per cent annually in the next five years, with high household savings rate and low retail penetration attracting foreign asset managers, a report has said.
Finance Minister Pranab Mukherjee might have to fall back on disinvestment and other non-tax revenue sources while presenting the Budget for 2009-10 on July 6, economists believe.
Former BJP President M Venkaiah Naidu has said the party will not contest the next Lok Sabha elections under the leadership of L K Advani and agreed that it would be logical for the party to get a new leadership at that juncture.
In an attempt to support exporters hit by the ongoing global economic crisis, the commerce ministry has proposed to its finance counterpart to exempt income tax for a period of three years for certain labour-intensive sectors like handicrafts, leather and textiles.
Gail India
Continuous evaluation of investment decisions and an eye for opportunity has helped in delivering consistent returns.
The government is assessing the needs of major export-oriented sectors hit by the economic slowdown to provide support for their fast recovery, Director General of Foreign Trade R S Gujral said today.
Visakhapatnam Port will soon invite fresh bids for construction of two berths under public-private partnership.
Uttar Pradesh Inc has demanded the stamp duty on registration of industrial plots be charged on sale cost/premium lease basis and not on market value/circle rate of the land as notified recently.
Dalal Street is likely to remain volatile this week as negative global cues would act as a drag on the trading sentiment of investors, analysts say.
Amid a hectic rush of investors for subscribing the initial public offer of NHPC, shares of power companies, led by Tata Power, today tanked in afternoon trade on the Bombay Stock Exchange(BSE).
Stock market indices slipped On Thursday as investors rushed to book profit in select sectors such as auto and metals.
IT solutions provider Patni Computer Systems today said it has allotted over 2.11 lakh underlying equity shares to Bank of New York and certain employees under the stock option plan.
The two main indices—the Nifty and the Sensex—staged strong intraday rebound on Friday in choppy trades and extended gains for the second straight day. The Nifty bounced back from an intraday low of 4,766 to close at 4,882 on short-covering in interest rate-sensitive sectors such as auto, banks and realty.
For the first time since its launch four months ago, the market share of Microsoft"s search engine Bing slipped in September while that of its rival Google rose.
IBM today said it has entered into a 10-year strategic outsourcing deal of over Rs 80 crore with the Gujarat Cooperative Milk Marketing Federation (Amul).
The government today said Indian Railways proposes to acquire 18,000 wagons in 2009-10,under rolling stock programme during the current fiscal against 11,000 in the previous financial year.
Despite the inherent attractiveness of the rural market for telecom operators various challenges still mar their entry.
Axe angels are working overtime these days. Ever since Hindustan Unilever launched the ‘Call Me’ campaign that shows a girl giving her phone number to a boy doused in Axe, the angels (as the girls in the commercials are called) have received 3.5 million calls. And the phones just don’t stop ringing these days.
The Supreme Court has restrained the Uttar Pradesh government and others from initiating recovery proceedings against Kotak Mahindra Bank in a matter related to trading of debts by banks.
Following the directive of the Allahabad High Court, the Uttar Pradesh government today said the Ganga Expressway would be constructed according to the recommendations of the Ganga Flood Control Authority (GFCA).
Germany-headquartered BrainLAB group, a privately held manufacturer of software-driven medical technology, is planning to form an Indian subsidiary next year to localise its growing Indian operations.
For promotion of good design practices in country, Indian Design Council (IDC) is likely to come out with design certification mark called "I-Mark" for industry, as a seperate recognition mark for design, an IDC member said here today.
The ambitious project of Reliance Industries (RIL) to put up progressive farming practices in Punjab has been scrapped as the Punjab cabinet has terminated the Memorandum of Understanding (MoU) signed with RIL in 2006 for setting up of Agricultural Mega Projects in the state, saying that no action had been taken in accordance with the provisions of the MoU.
After declaring 26 districts as natural calamity-hit following insufficient rains in the state, the Bihar government today said it would sought a Rs 10,500-crore Central package to meet the situation.
Anil Ambani group today questioned Mukesh Ambani-led RIL"s explanation on over three-fold jump in costs to $8.83 billion for developing gas fields, and asked the government to expedite the CAG audit and appoint an international expert to revalidate the expenses.
The government today imposed stock limit on bulk sugar consumers, allowing them to keep quantities sufficient for only 15 days of their consumption at any point of time. The stock limit would be in force for six months and would be applicable to consumers whose monthly sugar consumption is at least one tonne, the government said in a statement. The move will affect confectioneries, large biscuit and beverage producing units.
Crisis-hit Maytas Infra today said the Company Law Board (CLB) has allowed it to report quarterly accounts for the current financial year by June 30, 2010.
Contrary to my pessimistic mood at the year end, 2010 has been ushered in with good cheer by the announcement that all royalty payments-sectors, quantum, caps notwithstanding, will henceforth be covered by the automatic route, subject to the FEMA Current Account Transaction Rules, 2000.
State-run GAIL India is likely to sign this week a contract with Reliance Industries (RIL) to buy natural gas from the latter"s KG-D6 fields for production of LPG.
JD-U and SP today came together in the Lok Sabha to accuse the government of trying to help some big exporters by allowing rice exports during the time of drought and alleged that it was "big scam".
Vedanta Resources Chairman Anil Agarwal today said he is ready with Rs 8,000 crore for buying the government’s residual equity in Balco and Hindustan Zinc, for which he will meet the finance minister this month.
While HCL Tech’s recent performance beat estimates, a soft demand outlook and a spike in stock price means that the scrip is fairly valued
The BPO industry in India has undoubtedly been a very popular field of employment in recent years but one of the biggest challenges it is facing is a phenomenal rise in attrition rate, says a new book.
Indian stocks trading on American bourses lost over $1 billion last week, with IT bellwether Infosys accounting for more than half of the total loss.
New telecom licensee Etisalat DB Telecom has awarded a $400 million (around Rs 2,000 crore) IT applications and infrastructure outsourcing contract to Tech Mahindra. The contract is spread over a 10-year period.
Banks didn’t have room to further cut lending rates as of now and, in fact, they might look at raising them once credit offtake picked up, ICICI Bank’s Chairman KV Kamath said today.
The Canadian Chamber of Commerce has asked the Indian government to bring a new mining policy to attract foreign direct investment in the sector.
Direct-To-Home company Dish TV today said it will raise up to $200 million (about Rs 1,000 crore) through issue of securities in the domestic and international market.
Back in prehistory, that is, about three decades ago, when Kolkata thoroughly drowned in the monsoon deluge, we looked forward to sarat or autumn. The rains would be gone, the heat would be a bit less though the oppressive humidity would still be around, but that’s not what mattered. The special part was the sky at dusk. The grey of the monsoon clouds, still lingering, would be tinted pink and purple by the setting sun and create a riot of colours. And through this sky would pass large flocks of birds in a V formation.
Enterprise communications services provider Tulip Telecom today said its consolidated net profit has increased by 63.25 per cent to Rs 75.04 crore for the first quarter ended June 30, 2009.
Jaypee Group firm Jaiprakash Power Ventures today said it will raise Rs 1,500-2,000 crore through convertible bonds issued to foreign investors and institutional placement by next month to augment its generation capacity.
India is losing food items worth a whopping Rs 50,000 crore every year due to poor post-harvest handling of farm produce, a development that analysts say may jeopardise the Centre"s plan to formulate a food security law, especially in view of a "below-normal" monsoon.
Business Standard / New Delhi September 06, 2009, 0:55 IST