Corporate
After opening weak, the Asian markets have rebounded into the green. The Hang Seng is now up 19 points at 21,9212. The Nikkei is trading flat at 10,105.
The stock soared 22% to touch a high of Rs 120 and finally settled with a gains of 20% at Rs 118. The counter clocked heavy trading volumes of over 4 million shares on the BSE today.
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.
Bajaj Auto, once known for its scooters which revolutionised the two-wheeler market in the country, today said it will exit the segment by the end of the fiscal to focus exclusively on motorcycles.
Opposition is set to rake up several issues
Why is Tamil Nadu politician, DMK leader and MP from Perambalur, A Raja, the DMK’s man for all seasons?
Rex Cano / Mumbai December 09, 2009, 9:22 IST
Australia today became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, declaring the risk of recession over.
Blackstone Group, the world’s largest private-equity firm, may buy the amusement-park business of Anheuser-Busch InBev for about $2.5 billion to $3 billion, according to a person familiar with the discussions.
‘The Sun Never Sets on Dubai World’, claims the logo of the state-owned conglomerate of the Gulf city government. That’s why it got burnt under towering debts.
The Board of Approval (BoA), the apex body which clears special economic zone (SEZ) projects, will meet next month to approve fresh proposals.
Business Standard / New Delhi July 8, 2009, 0:58 IST
Sunil Jain / New Delhi November 17, 2009, 0:41 IST
The Delhi High court has directed Kingfisher Airlines to return all components leased out to it by Lufthansa Technik India following a petition by the latter that the carrier was using them even after it breached an obligation to make timely payments.
City Union Bank will raise Rs 300 crore by way of private placement of shares with qualified institutional buyers.
The limited review of the first quarter results of Kingfisher Airlines has raised questions about the accounting standards being followed by the airline. The review report says that besides other irregularities, tax expense and employee cost were reported 27 per cent and 21 per cent less, respectively.
Jet Airways, Kingfisher Airlines and SpiceJet today announced a hike in fuel surcharge by up to Rs 200 on their domestic flights. It translates into a maximum hike of up to 7.5 per cent on existing average fares.
Foreign airlines can now use larger aircraft and operate additional flights to India during the peak tourist season under the fresh guidelines issued by the government.
Swiss telecom firm ByCell has approached the Foreign Investment Promotion Board (FIPB) to reconsider its proposal to start telecom services in India and the matter will be taken up later this week.
Kingfisher Airlines, the airline owned by Bangalore-based UB Group, has announced suspension of its Bangalore—London—Bangalore route and its its feeder service on the Colombo—Bangalore—Colombo route with effect from September 15,2009.
Slowly but surely, tourism is picking up in the sylvan highlands of Scotland despite recession, thanks to an increase in the number of Indian tourists, keen to explore the locales where popular Indian films were shot. The Scottish tourism industry has already registered a bumper season so far and hotels and attractions are gearing up for a busy period in the holiday season.
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.
To add punch to IAF’s fleet of Sukhoi, Mig-29, Mirage-2000, Tejas.
With the economy showing signs of recovery, job market is also picking up and hiring is set to pick up pace, a senior official of a job portal today said.
Markets rallied smartly at the beginning of the week owing to strong gross domestic product numbers and easing Dubai debt woes. The benchmark indices consolidated at higher levels in the second half of the week.
Royal Enfield, niche motorcycle maker and a division of Eicher Motors, that has sold around five lakh bikes in its 54-year history now plans to take up its annual sales figures to one lakh by 2013.
Chennai-based TVS Motor today said it may venture into the above 200 cc segment in the bikes market as the company looks to increase its footprint in two-wheeler business.
Low volumes of the "common man"s car", expected to encourage people to buy a brand new car instead of an used one, has, however, put prices in the used car market back on track.
Finance Minister Pranab Mukherjee today ruled out an immediate withdrawal of the stimulus packages, but cautioned that too much delay in the exit would widen the fiscal deficit.
The car major Maruti Suzuki will launch a new family car "Eeco" with a 1,200cc petrol engine in the under-Rs 4 lakh segment, at the upcoming Auto Expo in the capital.
The 26/11 terror trial is not only against Pakistani gunman Ajmal Kasab, who was caught alive, but also against terror organisation Lashkar-e-Taiba, which masterminded the Mumbai attacks, Special Public Prosecutor Ujjwal Nikam said here today.
Pakistan army has arrested a retired Major for his alleged links with terror suspects David Coleman Headley and Tahawwur Hussain Rana, nabbed by Federal Bureau of Investigation (FBI) on charges of plotting attacks against India and Denmark.
Bharti Airtel and Cisco today announced a strategic business alliance to create products and services for the small, medium and large enterprises.
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.
Prime Minister Manmohan Singh has conveyed to the United States, India"s concern over misuse of its military and other kind of aid by Pakistan.
Voicing a desire for a new chapter in the history of the sub-continent, Prime Minister Manmohan Singh has said Pakistan must break with the past, abjure terrorism and come for talks with India in "good faith and sincerity" to resolve outstanding issues.
Prime Minister Manmohan Singh has welcomed US President Barack Obama"s efforts to engage with Iran without preconditions, hoping this will end the stand-off between Tehran and western countries over the issue of nuclear enrichment.
Accusing Pakistan of not doing enough to bring to book the perpetrators of the 26/11 Mumbai terror attacks, Prime Minister Manmohan Singh has said India does not know whom to deal with in Islamabad as the army is the most powerful force in the neighbouring country.
As he prepares to meet President Barack Obama in Washington, Prime Minister Manmohan Singh today said a "sustained and dynamic" Indo-US partnership is essential to meet major global challenges like international terrorism, climate change and economic slowdown.
United Spirits Ltd (USL), the flagship spirits arm of the UB Group, is looking at a bond offering within the next six months in an effort to refinance Rs 3,000 crore of debt.
Shankar Acharya / New Delhi December 24, 2009, 0:49 IST
Abhineet Kumar & Sidhartha / Mumbai December 31, 2009, 0:26 IST
Buoyed by a 100 per cent jump in sales and a 10 per cent increase in market share in September-October, Bajaj Auto is aiming for a 26-27 per cent maket share in motorcycles in FY10.
Bajaj Auto, the country’s second largest motorcycle manufacturer, has quietly discontinued two of its flagship products in the past three months to make way for more expensive models.
Olympic gold medallist Abhinav Bindra tells us how, when he wanted to quit his sport, the competitor in him just didn’t allow it
India’s power sector will be a key destination for private equity (PE) players to park their money, with close to $1.64 billion worth of infrastructure funds, mainly in power, awaiting their launch. According to industry experts, once the liquidity situation improves globally, the sector will see good investment momentum.
Tata Steel Managing Director H M Nerurkar today said the new year would be equally challenging as last year as the global recession is still continuing.
Indian business spreads its footprint across the globe.
The stock could see further re-rating, given that almost every segment has chipped in with better numbers.
The Central Board of Excise and Customs (CBEC) has issued Circular number 26/2009-cus dated September 30, 2009, clarifying various changes made consequent to announcement of the new Foreign Trade Policy (FTP). Exporters must take note of the following:
Cellular service provider Tata Teleservices today said it has become the top grosser of subscribers for the third consecutive month, with over 3.8 million new mobile users in October.
At least 60 crore people would get their Unique Identification Numbers (UIDs), a much-touted initiative of the government, in the next 4-5 years, its project chief Nandan Nilekani said today.
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.
World"s top forging company Bharat Forge reported a sharp decline of 68.03 per cent in consolidated net profit to Rs 20.33 crore during the fourth quarter of the financial year 2008-09 as against Rs 63.6 crore posted over the same quarter a year ago.
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.
Pennar Industries, a leading player in engineered metal products, has clocked a 24 per cent rise in its first quarter net profit at Rs 38.1 crore as against Rs 30.8 crore in the same period previous 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.
The committee set up to look into the issue of regulating investment advice would submit its report to the government by the month end.
Brussels is gearing up for an Indian summer, but this has less to do with the weather than India Inc, which is all set to strut its stuff in the heart of the European Union. The largest India-related business summit ever to be held in the city will see top CEOs and political heavyweights join hands to send a clear message to Europe, of engagement and interest.
India Inc today urged the Finance Minister to continue the stimulus packages till firm signs of economic recovery are visible, and also reducing the corporate tax rates.
The mutual fund industry has come for some serious criticism in the recent past. The reason: It has completely missed the stock market rally that started from early March and has given returns of over 70 per cent to investors. Madhusudan Kela, head (equities), Reliance Mutual Fund, which has the highest average assets under management and investor base, speaks to Palak Shah and explains why fund houses are being judged unfairly. Excerpts:
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:
Utility vehicle maker Mahindra & Mahindra (M&M) Ltd is planning to drive on rural markets to push its latest pick up Mahindra Bolero Maxi Truck.
Automobile manufacturers are expected to post sequential growth in sales, operating margins and profit in the first quarter of 2009-10, driven by Hero Honda, Maruti Suzuki and Mahindra & Mahindra. But Ashok Leyland and Tata Motors are expected to show poor results in the commercial vehicle segment due to lack of demand. TVS Motors should also be showing a decline in sales on lower motorcycles’ volumes.
Consumer electronics major Philips Electronics India has decided to float an buyback offer of Rs 242 per share, to enable minority shareholders make an exit.
While sugar prices are likely to stay at high levels, stock valuations reflect most of the positives.
Zensar Technologies today reported an over two-fold jump in net profit at Rs 27.74 crore for the quarter ended September 30, 2009.
IVRCL has announced a restructuring of its subsidiaries recently. The scheme proposes an amalgamation of IVR strategic resources and IVR Water Infrastructure, which are both wholly owned subsidiaries of IVRCL with IVR Prime urban developers, its real estate arm, where it has a 62.35% stake.
Tata Power today announced the completion of allotment of $300 million Foreign Currency Convertible Bonds (FCCBs) on November 20.
The losses can be attributed to costlier raw material, higher restructuring cost and operating pressure at its Teesside operations.
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Wants earlier rule on mills having to share extra profit with cane growers restored.
Delhi Police today questioned Olympic gold medalist Abhinav Bindra"s industrialist father in connection with two cases of cheating, for which he was arrested 24 days ago.
A group of shareholders of Royal Bank of Scotland (RBS) today said it is planning to take legal action against the bank for allegedly misleading the investors in its May 2008 rights issue prospectus.
An alliance between Congress and JVM appears almost certain for the Assembly elections in Jharkhand later this month and in December.
The faculty of IIT-Madras began a nine-day protest here today against "delay" in implementing the Sixth Pay Commission recommendations and warned of intensifying the agitation if the government failed to take cognisance of their protest.
The government today said it does not maintain statistics of Muslim employees in Central government services but it has data for the five minority communities as a whole.
The condition of Marxist patriarch Jyoti Basu, who is battling pneumonia, remained critical today with doctors putting him back on full ventilation.
Sreelatha Menon / New Delhi November 1, 2009, 1:01 IST
The government today gave a second extension up to March 31, 2010 to commodity exchanges to fall in line with the foreign investment ceiling of 5 per cent for an individual investor within the cap of 49 per cent.
Gross non-performing assets up 23% in 12 months.
Gross non-performing assets up 23% in 12 months.
The nationalised Indian Overseas Bank (IOB) today opened its new regional office Puducherry today.
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.
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.
Trouble in BJP deepened today with Yashwant Sinha quitting as Vice President even as party President Rajnath Singh threatened action against leaders violating party discipline and airing their views in public.
Infosys BPO, the back-office unit of IT firm Infosys Technologies, today said it would hire 1,500-2,000 people by the end of the current fiscal.
The condition of 95-year-old marxist patriarch Jyoti Basu, who is suffering from acute pneumonia, today continued to be critical and he is being given ventilatory support, doctors attending on him said.
I have invested Rs 1 lakh in Reliance Diversified Power Sector Fund. Its value has come down to Rs 74,000. What is the future outlook of this fund? Should I stay invested or redeem?
Trades between FIIs generated a volume of Rs 38 crore on the BSE Tuesday-an decrease of 38.84% from Rs 62 crore clocked on Monday. As many as six stocks witnessed trades of 7.71 lakh shares on Tuesday.
However, it will file a chargesheet on company law violations
Senior Biju Janata Dal (BJD) leader and the state"s agriculture minister Damodar Rout has accused the Paradeep Port Trust (PPT) authorities of tarnishing the image of the port.
Rising prices of food items and industrial goods are likely to push inflation to eight per cent in the next six months, much above the RBI"s projection of 5 per cent, global financial services company Nomura has said.
Industrial output, which grew at a 22-month high of 10.4 per cent in August, is set to accelerate further on inventory restocking and improving external factors, rating agency Moody"s said today.
Business Standard / New Delhi October 13, 2009, 0:04 IST
Public sector lender Bank of Baroda (BoB) today reported a jump of 60 per cent in net profit to Rs 634.18 crore for the second quarter ended September over the corresponding period a year earlier.
HSBC InvestDirect today said its Singapore-based wholly owned subsidiary IL&FS Investmart Asia Pacific will surrender the capital markets services license granted by the Monetary Authority of Singapore.
Sanjaya Baru / New Delhi November 4, 2009, 0:58 IST
The government is planning to import up to two million tonnes of rice to augment domestic supply, as production of the foodgrain is projected to decline due to the twin impact of drought and floods. The Centre, which had scrapped import duty on rice last month, may also consider incentivising imports, sources said.
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.
At last, there is an official admission that there is double-digit inflation in food articles, even according to the Wholesale Price Index. Till about a few weeks ago, this was downplayed on the ground that the total index showed a low inflation level; there was even a fear about deflation setting in! There was a standard, perhaps funny, explanation that the high inflation rate was due to the low base effect. One hears this nonsensical explanation only in India. One would not find it in any article on the subject in an internationally-recognised professional journal. This is an arithmetical and not an economic or technical explanation of the problem.
Economic think-tank Centre for Monitoring Indian Economy (CMIE) today revised down India"s growth forecast to 5.8 per cent in the current fiscal on account of lower agricultural output and slower industrial recovery due to the poor progress of monsoon.
The Sensex ended at 17,088, lower by 31 points and the Nifty shut at 5,102, down 15 points (provisional closing).
Progressive global cuisine, molecular gastronomy, nameless dishes. This one is truly exclusive.
I pay an annual premium of Rs 12,000 on a unit-liked insurance plan (Ulip). An agent mis-sold me this policy three years back, but I continued with it. I will be completing the three-year lock-in period soon. Should I surrender this policy? When does it make sense to discontinue an Ulip?
India"s economic expansion could exceed 7.75 per cent during the current fiscal, helped by high GDP growth numbers recorded during the July-September quarter, the government informed Parliament today.
Pricol has reported a net profit of Rs 6.29 crore for the quarter ended September 30, 2009 as compared to net loss of Rs 8.10 crore, a year ago.
Is Rs 500 enough to start an entrepreneurship venture?
Over 3000 Indian Institute of Technology (IIT) alumni from across the world will gather near here to participate in a global conference on technology and innovation that would be attended by President Barack Obama"s Chief Technology Officer Aneesh Chopra.
Even as the economy is showing signs of revival, industry"s fears about dumping by other countries is on the rise, prompting the government to initiate as many as 20 fresh anti-dumping investigations since the beginning of current financial year, compared to 21 in all of 2008-09.
The chief executive officers of JPMorgan Chase & Co, Goldman Sachs Group Inc and Morgan Stanley will headline the inaugural hearing of a congressional panel investigating Wall Street’s financial crisis.
A new decade started in the year 2010 will witness a radical re-distribution of forces in the world economy.
The Indian rupee today depreciated by 8 paise to 46.28 against the US currency in early trade on expectations of capital outflows by foreign funds.
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.
Bharat Petroleum Corporation (BPCL) informed BSE today that BPCL, Oman Oil Company (OOC) and Bharat Oman Refinery (BORL) signed an agreement on November 15, 2009 in Oman on additional investment in BORL by OOC. OOC will invest be Rs 1,220 crore in BORL to hold 26 per cent of the equity share capital of BORL, after full equity closure.
The much awaited Headends in the Sky (HITS) policy cleared by the Union Cabinet today would not only enable a digital delivery platform for cable operators, but will also result in reduction in subscription rates as competition will increase in the distribution sector.
Joe Mathew / New Delhi August 28, 2009, 0:22 IST
The Confederation of Indian Industry (CII) has called for efforts by both developing and developed nations to intensify efforts for developing a low carbon economy in the backdrop of the Copenhagen climate change summit. Developing countries such as India have a responsibility to their citizens to grow rapidly to meet and exceed the UN Millennium goals. This growth can be consistent with reducing carbon intensity in their economies.
In a bid to remove "fly-by-night" players who import electric two wheelers unlike the domestic ones, members of the Society of Manufacturers of Electric Vehicles (SMEV) are seeking stringent norms to be levied for low speed two wheeler electric vehicles from Automotive Research Association of India (ARAI).
The government today referred to CCEA a proposal of German commercial vehicle maker Daimler to buy out its erstwhile partner Hero Group"s entire 40 per cent stake in a joint venture to produce trucks in India.
- Bonds gain as yields near 15-month high lure investors - Rupee gains 2 paise at 45.69/$ in early trade - Rupee down 16 paise at 45.50/$ in early trade - Imports turn viable on rising domestic prices - Dollar buys, FII inflows take Re to 15-month high - Rupee at 16-month high, rises to 45.34/$">Rupee at 16-month high, rises to 45.34/$
HPCL-Mittal Energy Limited (HMEL) has paid Rs 60 crore to insure its planned refinery in Bathinda in Punjab against risks during the construction phase.
Kirtika Suneja / New Delhi December 07, 2009, 0:16 IST
Business Standard / New Delhi November 17, 2009, 0:10 IST
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.
Andhra Pradesh will soon evolve a policy to encourage the solar energy industry. This will complement the to-be- announced Jawaharlal Nehru National Solar Mission, a dedicated national policy for solar energy that outlines 20 giga watt of solar generation by 2020, said chief minister K Rosaiah.
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).
The Reserve Bank of India (RBI) today said the banking system may increasingly face the problem of staff-attrition in the period ahead and banks will have to gear up to tackle the issue.
The Chartered Institute of Financial Analysts (CFA) of USA, which represents financial analysts worldwide, published "The Comprehensive Reporting Model" in 2007. According to the model, ‘fair value information is the most relevant information for financial decision making’. It argues that fair value measures reflect the most current and complete estimations of the value of the asset or obligation, including the amounts, timing, and riskiness of the future cash flows attributable to the asset or obligation. Such expectations lie at the heart of all asset exchanges.
Global satellite navigation device maker Garmin today said it has entered into a tie-up with Reliance Retail to launch its car navigation products in India.
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.
Centrally-funded technical Institutions, including IITs and IIMs, are suffering due to about 25 per cent shortage of faculty, the Lok Sabha was told today.
Day one of the final placements at the Indian Institutes of Technology (IITs) has brought the smile back on the faces of students, as big recruiters are back on the campuses. IIT placement representatives say salaries could go up by 30-40 per cent this year.
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 government today ordered a safety audit of all oil and gas installations across the country after the massive fire at the Indian Oil Corp"s fuel depot in Jaipur which is raging even five days after breaking out.
A committee set by the Petroleum Ministry to probe into the causes of the devastating fire at the IOC depot near here began its inquiry today by visiting the site.
3 Idiots has passed the cinegoer’s test with flying colours. The Aamir Khan-starrer raked in Rs 12.5 crore on Friday. Experts estimate the movie to net Rs 40 crore over the first weekend from the box office, with gross collections of Rs 65 crore. Khan’s last release, Ghajini, earned around Rs 40 crore net in the first four days, since the movie released on a Thursday. Aamir Khan said: “The response is huge, we are still gathering the enormity of opening collections. To match Ghajini’s opening day collections is something, to surpass Ghajini is completely overwhelming.”
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.
The Indian entertainment and media (E&M) corporates will prefer Hollywood over Bollywood in terms of investment in the near future, as over 90 per cent of the Bollywood movies flop annually, a study said.
Amid criticism from some quarters for the Copenhagen accord on climate change, Prime Minister Manmohan Singh today advocated the need for an “informed and rational” debate on solutions that suit India.
The Satyam Computer accounting scam, slowdown and resultant hiring freeze by many made 2009 a forgettable year for the Indian Information Technology industry.
Saurabh Kumar / New Delhi December 20, 2009, 0:30 IST
Saubhadro Chatterji / December 20, 2009, 0:11 IST
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.
Soaring prices of the raw material had squeezed their margins to almost nil.
National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 793.85 crore to implement various projects in Tamil Nadu.
Rajat Roy / New Delhi November 22, 2009, 0:36 IST
Nuclear Power Corporation of India (NPCIL) today said French power equipment maker Alstom will be the third partner and hold 33.3 per cent stake in the proposed joint venture with Bharat Heavy Electricals (BHEL).
The aluminium major National Aluminium Company Limited (Nalco) and the state owned Nuclear Power Corporation of India Limited (NPCIL) have signed a memorandum of understanding (MoU) for collaboration with each other for setting up nuclear power plants in the country.
Nuclear Power Corporation of India (NPCIL) and National Aluminium Company (Nalco) today signed a Memorandum of Understanding (MoU) for setting up nuclear plants in the country.
Prices are Rs 35 a kg more than last year.
The Vedanta Group has asked the Orissa government to restrict the entry of foreign non-government organisations (NGOs) in the area where it proposes to mine bauxite, as part of its $8-billion project in the state, saying they were instigating locals. “These NGOs comprising Survival International and Action Aid are instigating locals to go to the hill top, where we have proposed to mine bauxite, and set up houses. The Orissa government has already said there is no tribal population in our proposed mining site. Such efforts by these NGOs are aimed at harming the project and investments in the state; their movement has to be regulated,” Vedanta Aluminium Ltd COO Mukesh Kumar told PTI.
The West Bengal tourism department will appoint an international consultant by the end of next month, to chalk out a model for attracting more foreign tourists.
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.
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
HCL Technologies has emerged as the best managed entity in the list of top 50 global outsourcing vendors for 2009 compiled by the Black Book of Outsourcing, which also features atleast eight other Indian IT services firms.
Financial services major Citigroup Inc"s chief of investment banking John Havens received over $9 million in compensation last year, making him the highest paid employee in the firm, a media report said.
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.
To launch in BIG Cinemas in India, abroad.
Bangalore-headquartered Biocon and Amylin Pharmaceuticals Inc today announced that they have entered into an exclusive agreement to jointly develop, commercialise and manufacture a novel peptide therapeutic for the potential treatment of diabetes.
The indices closed flat for the third consecutive session. In line with its Asian peers, the Sensex was down nearly 200 points in opening trades. But a recovery in the Japanese markets engineered a turnaround on Dalal Street. The Sensex finally ended at 16,356, lower by one point, and the Nifty closed at 4,906, up 24 points. Consumer durables, IT and auto sectors traded firm, while FMCG and banking were sluggish.