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Riding the bottom
BA: British Airways has become one of those companies that is trapped in an endless restructuring. Over the years, the UK airline has undergone successive rounds of cost cuts. The need for yet more is as urgent ever. Sales fell 14 per cent in the first half of BA’s financial year, but costs were not removed fast enough to avert a record pre-tax loss of £292 million. And that was in the normally buoyant summer months.

'More upgrades will hike the Gorshkov's price'
A consummate Russian diplomat, Vyacheslav Trubnikov is returning home this week after having served as serving as Russia’s ambassador to India for nearly five years. The period has seen several highs and lows in the bilateral relationship, including the building of the first civil nuclear power plants by Russia and nagging problems over defence spares and equipment. Edited excerpts from an interview with Jyoti Malhotra

News of the day

Andhra to form JV to explore gas reserves
The board of directors of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) on Tuesday approved the proposal to create a joint venture company with APGenco. APIIC would have a majority 51 per cent equity share and APGenco the remaining 49 per cent.
Corporate

Mahindra Satyam down 7% on L&T's stake sale

Mahindra Satyam slipped to a low of Rs 109 and finally ended at Rs 110, down around 7%. The counter witnessed trades of 46.44 million shares on the BSE as compared to the two-week daily average traded volumes of 7.23 million shares. - Ranbaxy up on WHO"s nod for AIDS drug - IT stocks in demand as acquistion clicks - Shree Renuka at new 52-wk high on overseas acquisition - Punj Llyod erases gains, ends down 2% - Pyramid hits 10% lower circuit on Sebi ban - Sun Pharma gains on HC order Larsen & Toubro on the other hand ended flat at Rs 1,643 and clocked volumes of 291,251 shares at the counter. ____________________________________________ (Updated at 1056hrs) Mahindra Satyam has declined today following the news that Larsen & Toubro is selling a third of its 6.9% stake in the company. The stock opened at Rs 114 and slipped in the negative zone to touch a low of Rs 109. The stock is now trading at Rs 112, down 5% from the previous close. The counter has clocked huge volumes of 35.53 million shares as compared to the two-week daily average traded volumes of 7.23 million shares on the BSE. Larsen & Toubro on the other hand is trading flat Rs 1,651. The counter has witnessed trades of 94,903 shares on the BSE. Click here to read more: L&T to sell a third of Satyam stake


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