Management
Abhay Kumar Srivastava, the chairman and managing director of Cement Corporation of India (CCIL) today took over as CMD of navratna public sector unit, National Aluminium Company Ltd (Nalco).
National Aluminium Company (Nalco), a leading producer of aluminium in the country, intends to enter the energy sector as an independent power producer.
The Centre has approved the proposal for grant of mining lease (ML) to the state-owned National Aluminium Company Limited (Nalco) over Gudem and Katamraju Konda bauxite blocks in Andhra Pradesh. The AP government had earlier sent its recommendations in favour of the company to the Centre for the same property. The two deposits are estimated to have 85 million tonne of bauxite.
Business Standard / New Delhi December 15, 2009, 0:24 IST
Mumbai-based Udyog Software, is in talks with Special Economic Zone (SEZ) developers in Gujarat for its tax software solutions. Udyog Software, which provides technology solutions to number of businesses in areas of Payroll Solutions, Tax Compliance Solutions, Integrated Solutions and ERP implementations, now plans to tap both SEZ developers as well as the upcoming units in it.
After having launched a new IT policy this month offering incentives to attract investments in the sector, the Punjab government will now review the proposed 18 IT SEZ projects and IT parks in a meeting tomorrow to decide on "serious" IT players.
Mumbai-based Udyog Software, is in talks with Special Economic Zone (SEZ) developers in Gujarat for its tax software solutions. Udyog Software, which provides technology solutions to number of businesses in areas of Payroll Solutions, Tax Compliance Solutions, Integrated Solutions and ERP implementations, now plans to tap both SEZ developers as well as the upcoming units in it.
India has said it does not visualise any conflict with China on border issues and that the two countries have agreed to resolve their differences through dialogue.
Construction firm Ahluwalia Contracts India today said it has bagged four orders worth Rs 242 crore from various vendors for construction-related works.
Setting up of a rail coach factory in collaboration with the West Bengal government or on the public-private-partnership model at the abandoned Tata Motors’ Nano project site at Singur was today mooted by Railway Minister Mamata Banerjee.
Business Standard / New Delhi November 30, 2009, 0:40 IST
Coordination at the national level will help in the screening of suspected influenza patients.
Domestic passenger car sales have recorded 33.88 per cent increase at 1,32,615 units in October from 99,052 units in the same month last year.
In an apparent damage control in the Rajdhani Express hijack drama, a second FIR naming Maoists and a group backed by them has been filed by the Central Resreve Police Force (CRPF) after the Railway Police Force (RPF) filed the first report against “unknown persons”.
Bharti Airtel, in a major management restructuring today, appointed Sanjay Kapoor as CEO of India and South Asia operations. Kapoor replaces Manoj Kohli, who will now be the CEO of newly created entity International Business Group of Bharti Airtel and joint managing director.
The deadline set by the Income Tax (I-T) Department to record the statements of at least six associates of former Jharkhand Chief Minister Madhu Koda today expired without them appearing.
To raise Rs 80 crore for working capital requirements
In a major setback to India"s oil diplomacy, the ONGC-Hinduja Group alliance has lost the rights to develop Iran"s South Azadegan oilfield to CNPC of China.
In spite of a 15 per cent decline in the kharif rice output, the government’s rice procurement in the ongoing kharif marketing season is marginally up at 14.85 million tonnes due to an increase in purchase from the ‘grain bowl’ states of Punjab and Haryana even though procurement is down in states like Uttar Pradesh (UP), Andhra Pradesh (AP).
Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter ended the year on a high note with domestic sales growing by 42.6 per cent while exports grew by 9 per cent, said a company press release. Cumulative growth stood at 22.6 per cent for the month ending December, 2009.
MRF finally settled with 16.5% increase at Rs 4,454. The counter witnessed trades of 61,745 shares, as against its two-week average traded quantity of 9,607, which is a massive increase of 521,38.
As the Obama administration works to garner support for healthcare reform, about $1.2 billion in grants were announced today to help hospitals and healthcare providers implement and use electronic health records.
Finance Minister Pranab Mukherjee said the production of Kharif or summer crop would decline by 15-20 per cent, as 252 districts in 10 states are drought-hit.
As the Congress endorsed him for another term as Maharashtra Chief Minister, Ashok Chavan said, he did not expect any problem in the government formation exercise, which would begin after ally NCP elected the leader of its legislature party.
Buoyed by the Trinamool Congress’ success in the just-concluded Arunachal Pradesh elections in which it won five seats, party chief Mamata Banerjee has decided to field candidates in the upcoming Jharkhand elections as well. Even as the Congress is irked by Banerjee’s zeal as her party eats into its votebank, Banerjee is determined to make the Trinamool a registered national party by increasing its vote share in other states. The two parties are partners in the United Progressive Alliance but Banerjee is yet to decide if the Trinamool will support the Congress government in Arunachal Pradesh or sit in the opposition. Banerjee is also looking at constituencies in the East Singhbhum area — with a considerable Bengali population — as her target constituencies in Jharkhand.
The Indian Biscuits Manufacturer’s Association (IBMA) has appealed to the government to bring down the prices of wheat, sugar, edible oil and milk powder — the ingredients used for biscuit manufacturing.
Hyderabad-based vaccines and biotherapeutics manufacturer Bharat Biotech, which is getting ready with an indigenous H1N1 swine flu candidate vaccine, would go for clinical trials in two months, according to its chairman and managing director Krishna M Ella.
Reliance Industries Ltd (RIL) has bagged rights to retail CNG to automobiles and pipe gas to households in two cities of Andhra Pradesh and one in Madhya Pradesh.
The Supreme Court is likely to defer the gas dispute between Mukesh Ambani group firm RIL and Anil Ambani group company RNRL to September 4, as the chief justice may lead a Constitutional Bench the same day.
The Delhi High Court today sought an explanation from the Centre as to why it was not appointing chairman of National Human Rights Commission, a post lying vacant since June.
Swiss drug maker Novartis AG has hiked its stake to 76.42 per cent in its Indian subsidiary Novartis India pursuant to the completion of open offer.
Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
The Supreme Court today decided to commence the final hearing on the high-profile gas dispute between the group firms of Mukesh Ambani and his younger brother Anil from October 20.
Private-sector lender, Bank of Rajasthan(BoR) today entered into a tie-up with Bajaj Auto to offer two-wheeler loans.
Japanese drug maker Daiichi Sankyo today reported a loss of $3.45 billion during the financial year 2008-09, and said it was on account of a steep fall in share prices of Ranbaxy, which it acquired last year.
Piramal Life Sciences has commenced phase I trial of a new experimental drug molecule P2202 for diabetes metabolic syndrome in Canada. P2202 is the second compound from Eli Lilly and is part of the collaborative agreement between two companies and is being developed for diabetes metabolic syndrome.
Pakistan Supreme Court summons former President Pervez Musharraf to appear before it.
Spencer’s, the retail arm of the Rs 13,500-crore RPG Enterprises, will be focusing more on large format stores this fiscal and prune down investments per store in order to beat recession blues and turn the company profitable.
The Supreme Court today allowed TVS Motor Co to manufacture ‘Flame’, the 125 cc bike which was caught in a patent row with Bajaj Auto Ltd. But the finished two-wheelers would not leave the company’s warehouse. Both parties were also restrained from using the order for any purpose, including publicity.
The third Software Technology Park of India (STPI), being set up in Orissa at Ambapua on the outskirts of Berhampur, has failed to attract major IT companies even though the construction work on the STPI centre is nearing completion.
Public sector lender Bank of Maharashtra reported 7 per cent drop in net profit to Rs 112 crore for the quarter ended December 31, 2009 as against Rs 120.6 crore in the year-ago quarter.
Shuchi Bansal / New Delhi July 03, 2009, 0:22 IST
In a bid to prevent surrogate advertising of alcohol and tobacco products on television, government has tabled a paper in Parliament to implement various provisions to this effect.
Japan today termed as "unfortunate" the failure of the Copenhagen climate talks to deliver a legally binding agreement to tackle global warming.
Business Standard / December 27, 2009, 0:21 IST
Raising finance for companies eyeing renewable energy projects would no more be a tough task as banks and consultants are working on innovative solutions to help these companies.
After months of tough negotiations, Senate Democrats have come together to back a sweeping health care legislation, providing a powerful boost for President Barack Obama"s top domestic policy goal that promises to extend medical coverage to 31 million Americans.
Chennai-based entertainment company Pyramid Saimira Theatre Limited (PSTL) has moved the Securities Appellate Tribunal (SAT) against market regulator Securities and Exchange Board of India (Sebi)’s order, which had banned the company in November 2009 from trading in the Indian securities market for seven years following irregularities in its initial pubic offering (IPO).
Despite reasonably comfortable liquidity conditions, the long term bond yields have inched up significantly during the last few months. The yield on the benchmark 10-year bond surged by almost 100 basis points between April 17, 2009 and and September 10, 2009. The huge Government borrowing programme for the current fiscal to fund the mounting fiscal deficit has largely been responsible for the spike in the G-sec yields. The net market borrowing of the Central Government through issue of dated securities in FY10 is estimated to be Rs 3,97,957 crore, of which the Government has raised Rs 2,43,911 crore so far (up to September 4, 2009; including Rs 28,000 crore of MSS de-sequestering).
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
Novartis India, a subsidiary of Switzerland-based Novartis AG, is all set to grow its business revenues by four times in the next five years. The company"s over-the-counter business unit is looking at introducing more products in the consumer healthcare segment.
Wall Street investment banker Goldman, which took federal money a few months ago to save itself from bankruptcy, is expected to announce profits for the March-June period, media reports said.
Never let it be said that the Justice Department can’t move quickly when it gets a hot tip about an alleged crime at a Wall Street bank. It does help, though, if the party doing the complaining is the bank itself, and not merely an aggrieved customer.
Suzlon Energy bagged a repeat order from Gujarat Alkalies & Chemicals (GACL) to set up, operate and maintain a 21 megawatt (Mw) wind energy project in Maliya Miyana in the Rajkot district, Gujarat. The project will comprise of 14 units of Suzlon"s S82-1.5 Mw wind turbines.
The Energy Department is lending money to the Ford Motor Co and two other automakers from a $25 billion fund to develop fuel-efficient vehicles, congressional officials said.
Trinamool Congress leader and new Railway Minister Mamata Banerjee has called for a review of the Special Economic Zones (SEZ) policy. Whoever takes over as the Union commerce minister will have to do it in any case, as it is nearly four years since the SEZ Act, 2005, came into effect and over three years since the SEZ Rules, 2006, were put in place. A performance assessment can do no harm but certainly the SEZ developers who have already acquired land and sunk their money in developing infrastructure and the units, which have obtained approvals and started their operations, should not be left wondering for long as to whether any policy changes will affect them. They need to be assured quickly that any policy changes will affect only the intending SEZ developers and SEZ units.
The Nifty formed another Doji pattern today after moving in a narrow band of 50 points, indicating indecisiveness among participants ahead of Christmas holidays in US and European markets. The index closed below its crucial trendline support level of 5,050, while maintaining its 50-day daily moving average (DMA) support at 5,000.
The Nifty formed another Doji pattern today after moving in a narrow band of 50 points, indicating indecisiveness among participants ahead of Christmas holidays in US and European markets. The index closed below its crucial trendline support level of 5,050, while maintaining its 50-day daily moving average (DMA) support at 5,000.
The government today said economic growth rate could decline to 6 to 6.5 per cent in the third quarter (October-December 2009) on account of the impact of drought and floods on agriculture production.
In its hope to see electric two-wheeler sales rising in Gujarat, Chennai-based BSA Motors, a business unit of Tube Investments of India (TII), part of the Rs 15,646 crore Murugappa Group, has submitted a memorandum with the state government seeking eight per cent waiver in road tax, reduction in VAT as well as provision of subsidy for the products. Once implemented, BSA Motors hopes to achieve 15 per cent of its total sales target from Gujarat.
The Chennai-based Murugappa grorup, which crossed Rs 15,500 crore in turnover, is planning to invest Rs Rs 586 crore in 2009-10 through its group companies.
Biocon was scouting for more strategic alliances and exploring opportunities for outlicensing its biotech drugs under development, as it pitches for a slot among the top three bio-pharmaceutical players across the globe, said Kiran Mazumdar-Shaw, chairman and managing director.
Notwithstanding the growing concern over an appreciating Indian rupee against the US dollar which could eat into their operating (Ebitda) margins, major Indian IT services providers believe the worst is behind the sector.
A meeting of chief ministers of Naxal-hit states will be held next month to discuss the menace which has assumed alarming proportions in some states.
Leading auto maker Bajaj Auto today said its technology ExhausTEC, which helps improve performance of a two-wheeler, has been granted a patent by the Munich-headquartered European Patent Office.
With the private distribution companies in the state incurring a cumulative loss of about Rs 2740 crore by the end of 2008-09, the Orissa government is yet to take a decision on the suggestion of Orissa Electricity Regulatory Commission (OERC) to invest about Rs 900 crore for improving the quality of power in the state.
The current power crisis in Orissa, which was a power surplus state till a few months back, is the fallout of the lapses of the officials of the state energy department, according to the Anti Corruption Youth Forum (ACYF).
GMR Infrastructure, the Rs 4,500-crore Bangalore-based infrastructure developer with a focus on power generation, airports development, highways and urban infrastructure, is understood to be initiating plans for an 800-Mw coal-fired power plant on the eastern coast of India.
French power equipment maker Areva is all set to dispose of its transmission and distribution business, including its Indian arm Areva T&D.
The Centre today warned the Vedanta group that it can be prosecuted if it resorts to “illegal mining” of bauxite at Niyamgiri in Orissa since it has been given only in-principle approval. “They have got environmental approval in-principle. They have not got full forest clearance. If mining is taking place in Niyamgiri, then it is illegal,” Environment and Forests Minister Jairam Ramesh said in the Rajya Sabha.Replying to a debate on the working of his ministry, he said the ‘in principle’ nod given to the group would not mean sanction for the mining operations.
The stock zoomed to a new 52-week high of Rs 470, up 12% from the day"s low. It finally closed with a huge gain of 9% at Rs 461. The volumes rose more than three-fold to 59,646 shares from its two-week daily average trade of 18,153 shares on the BSE.
S Kalyana Ramanathan / New Delhi January 29, 2010, 0:51 IST
Tata Motors has started distribution of its Prima range of World Trucks, unveiled in May. The first product, the Prima 4028 S, is a 40-tonne 266-PS (Cummins ISBE engine) tractor with a 9-speed ZF transmission, a matching trailer with new generation brakes, ABS and specialised axles for heavy-duty and high-speed application. The tractor’s air-conditioned cabin includes reclining seats, adjustable steering wheels and arm rests for driver comfort. It has got sleepers to facilitate long-distance travel.
Auto component maker Sona Koyo Steering Systems reported an unaudited profit after tax (PAT) of Rs 3.71 crore for the quarter ended September 30.
Reliance Industries (RIL) is currently producing over 50 million standard cubic meters per day (mmscmd) of natural gas from the KG Basin D-6 fields, the government said today.
Power traders have opposed a Central Electricity Regulatory Commission (CERC) draft suggesting trading margin of 7 paise per unit if the sale rate is more than Rs 3 on a short-term trading market.
The Sensex after moving in the negative terrain for quite some time has rebounded into the green on the back of buying in the IT shares. The Sensex is now at 16,898, up 21 points.
Likely to kickstart its hybrid plans for India by a preview at Auto Expo 2010
The Nifty closed in a Doji pattern on the last day of this month’s expiry today, indicating continuation of indecisiveness in the next series. Global cues are strong and hence the Nifty is likely to trade above 4,800 with strong support at 4,820.
The country paid over 7 per cent higher amount in repaying its external debt at $7.67 billion during the first six months of this fiscal over the year-ago period, despite a soft interest rate regime globally.
The country’s largest power generator, NTPC Ltd, will be officially powering the Commonwealth Games being held next year. It has got marketing rights for the games that will held in New Delhi next year, in return for a Rs 50-crore sponsorship.
State-owned IDBI Bank is believed to have zeroed in on Kerala-based private sector lender Federal Bank for acquisition.
Low interest rates helped banks report healthy growth in the third quarter of the current financial year.
The head of the International Monetary Fund (IMF) warned today against excessive capital inflow in some Asian countries although he said the IMF sees no imminent threat of asset price bubbles.
Talking to the civil servants, Prime Minister Manmohan Singh today asked them to be innovative and quick, saying people resent "apathy, sloth and corruption" at any level of government more than ever before.
India is clearly showing strong growth, as outlined by the RBI which stated that the output gap is narrowing with economy operating close to potential and raised its baseline projection for GDP growth in FY10 to 7.5 per cent from 6 per cent forecast in October 2009 in the monetary policy announced today.
Karnataka Chief Minister B S Yeddyurappa is not likely to initiate any legal action against former Prime Minister H D Deve Gowda for using unparliamentary language against him but the state unit of BJP has threatened to file a suit against the JD(S) Chief.
UK Chancellor of the Exchequer Alistair Darling said bankers should stop complaining and get to work.
Telecom regulator Trai is mulling to bring the tower business of telecom companies under the ambit of regulations so that the Department of Telecom can consider a separate policy for the segment at a later stage.
The Department of Telecom (DoT) has opposed general security clearance to few major equipment vendors like Ericsson, Nokia-Siemens, Motorola and Huawei and has sought Home Ministry"s view on the issue, a move that could delay execution of expansion plans of telcos.
Finally starting the process to auction 3G spectrum to potential telecom operators, the government is likely to issue guidelines giving details about the number of blocks to be sold and other related information.
After committing an investment of Rs 60,000 crore on various projects in Orissa including an aluminium smelter plant, an alumina refinery unit and a mega university project, London-based Vedanta Resources Plc has now evinced interest in setting up a steel plant in the state.
Some big boys disappoint, but India Inc’s Oct-Dec show has been impressive.
Karur Vysya Bank has reported a net profit of Rs 75.87 crore for the quarter ended December 2009, registering an increase of 28 per cent over the corresponding period previous year. The bank had reported a net profit of Rs 59.25 crore in the same period last year, Karur Vysya Bank said in a filing to the Bombay Stock Exchange.
Reliance Infrastructure (R-Infra), part of Anil Dhirubhai Ambani Group, has won Mumbai Metro Line–II project from Maharashtra government. The estimated cost of project is around Rs 11,000 crore.
There is money to be made. But remember the basics
The Sensex is quoting at 16757, lower by 102 points, and the Nifty is at 4996, down 39 points.
Financial services major Bank of America today said its consumer banking chief Brian T Moynihan will replace Kenneth D Lewis as President and Chief Executive Officer of the company on January 1, 2010.
The Anil Dhirubhai Ambani Group’s Reliance Power today reported a 26.45 per cent rise in its third quarter consolidated net profit at Rs 133.64 crore, against Rs 105.68 crore in the year-ago period.
Anil Dhirubhai Ambani Group company Reliance Big TV today said it has reached deals with real estate developers to market its Direct-To-Home television services in their residential building projects.
Internet giant Yahoo! has posted a profit of $153 million (Rs 693 crore) in the quarter ended December 2009 on the back of improving advertising market.
Business Standard / New Delhi January 27, 2010, 0:46 IST
Broadcasters are increasingly opting for non-exclusive rights of films this year.
Notwithstanding the high voltage overseas road shows and Incredible India campaign, the decline in foreign tourist arrivals in the country continues.
LG Electronics, the global manufacturer and marketer of consumer electronics and home appliances, today opened one brand showroom ‘LG Shoppe’ at Samantarapur in Bhubaneswar. Arvind Kumar, the branch head of Orissa, inaugurated the premium brand showroom.
South Korean consumer durables major LG today said it plans to give a push to its LED TV sales by launching more advanced versions of it in 2010 and expects to sell up to 3 lakh units by the end of next year.
The unemployment rate in the OECD region — a grouping of 27 developed and developing nations — stood at 8.8 per cent in November 2009, amid the global labour market slowly witnessing signs of stabilisation.
AV Rajwade / New Delhi December 21, 2009, 0:43 IST
Month-on-month decline arrested; figure expected to turn positive from Jan
Gold continued its rising spree today to set a fresh record at Rs 18,550 per ten gram in the bullion market today as dollar remained weak.
India"s gold imports stood at about 18 tonnes in May, nearly two tonnes less than that in April, on account of high prices and low demand in domestic markets.
Challenges posed by climate change hit centrestage in 2009 which saw the government doing a flip-flop ahead of the crucial Copenhagen summit even as the Opposition and experts alleged that India succumbed to pressure from rich nations on emission cuts.
If something is not taxable at all, can one exempt it? Obviously not. If one does it, it is conceptually meaningless and even absurd. Taking an excise example, it is like saying that free air is exempt. If free air is not taxable, it cannot be exempted by the government. Precisely this type of conceptual error is visible in the exemption list suggested in the Report of the Task Force of the 13th Finance Commission .
The Bombay Stock Exchange (BSE) today said short selling in four scrips, including Corporation Bank and IndusInd Bank will not be available on the bourse with effect from July 31.
What do Cannan Partners and Indian Institute of Management-Ahmedabad have in common? They have both appointed an entrepreneur-in-residence (EIR).
Vishesh Chandiok, the national managing partner of Grant Thornton India, now spends a lot of time while signing on new clients. He runs thorough background checks on any new company that comes to him – is the management too aggressive, what is its attitude towards financial reporting? Even old clients who want to renew the contract are put through the tests. “In the last one year, we have dropped 15 clients,” says Chandiok. “Some of them for this reason.”
The government today said it would come out with a national manufacturing policy by the end of June this year to attract overseas investment and promote industrial activity in the country.
Tanla Solutions Limited, a city-based telecommunications software and services provider, has called off its plans to set up a new development centre in Hyderabad and a backup/ disaster recovery centre in Bangalore. The company had earmarked Rs 77.26 crore and Rs 12.78 crore respectively for its Hyderabad and Bangalore expansion.
The Life Insurance industry paid 20.74 per cent higher death benefit to its policy holders at Rs 1,717 crore during the first quarter of the current fiscal.
India exports 100 million tonnes of iron ore to China.
RBI wonders if banks are doing enough to push the service.
The financial supervisors in Asia have tightened the norms to make provisions for non-performing loans after the crisis hit many countries in late 1990s. But the provisioning stance still remained reactive to shifts in the business cycle, according to a Bank of International Settlements (BIS) study.
JMM chief Shibu Soren was today sworn in as chief minister of Jharkhand for the third time at a ceremony which was skipped by top leaders of coalition partner BJP, and will take a floor test in the Assembly on January 7.
Promoters aim to hike stake; Dalmia’s stake over 25%
The markets ended their four-day winning streak as global indices closed lower. The Sensex closed at 17,343, weaker by 57 points, and the Nifty closed flat at 5,169. The broader indices, however, outperformed the benchmark indices. The consumer durables pack was the leading sectoral gainer for the second day in a row while FMCG and metals showed weakness.
Mega public sector undertakings ONGC, SAIL and NTPC got greater financial and operational autonomy after the government today accorded the Maharatna status to these firms to help them emerge as global giants.
Citibank today launched CitiHome One, a first-of-its-kind universal mortgage product, that would enable customers to get a home-loan as a combination of a conventional term-loan and credit line.
The Centre today informed the Delhi High Court that differently-abled government employees will be eligible for equal benefits for the postal life insurance policy with maximum limit of Rs five lakh.
The Associated Chambers of Commerce and Industry of India (Assocham) has urged the Haryana government to reform its land laws in a bid to attract companies to invest in the state.
The government today said selling 10 per cent of coal through e-auction by the Coal India Limited has helped checking malpractices, corruption and black marketing.
The coal consumers drawing coal from the Basundhara coal block under the command area of Mahanadi Coalfields Limited (MCL) continue to grapple with the problem of inferior quality of coal supplied to them.
Markets continue to trade subdued.
Kishore Biyani-led Pantaloon Retail India Ltd (PRIL) will hive-off its value segments--Big Bazaar and Food Bazaar-- into a separate company called Future Value Retail from January 1.
T N Ninan / New Delhi December 5, 2009, 1:54 IST
Welcoming the government’s plan to cut down carbon emission intensity by 20-25 per cent by 2020, India’s automobile industry said it will compel manufacturers to produce greener cars with improved mileage.
US markets ended flat on Tuesday. The Dow dropped two points to 10,545 while the Nasdaq slipped three points to 2,288.
Providing a sovereign guarantee to the National Highways Authority of India’s (NHAI’s) borrowings will be decided on a case-to-case basis by the finance ministry.
Bangalore-based medical diagnostics products maker, Opto Circuits (India) Ltd (OCI) has announced that its wholly-owned US-based
In yet another move to increase the flow of Japanese investment into India, visiting Japanese Prime Minister Yukio Hatoyama today assured India’s leading industrialists and bankers to look into the option of directly linking the rupee and yen.
Twenty five Indian generic drug makers got a little over 200 approvals from the US Food and Drug Administration (FDA) in 2009, half a dozen more than the number approved in 2008.
The Sensex finally ended (provisional) with a loss of 201 points at 16,993. The NSE Nifty was down 59 points at 4,983.
The Sensex after attempting recovery has once again slipped into the red. The index is now at 16,677, down 108 points. The NSE Nifty is at 4,947, down 42 points.
The Centre has refused to extend the in-principle approvals to as many as 11 SEZ projects, including the Mukesh Ambani-promoted Reliance Haryana SEZ, Posco India and Indiabulls Infrastructure, stating that the rules do not allow giving them more time for implementation.
Sun Pharma today said it would revise the revenue guidance for 2009-10 as the company was not sure when its US subsidiary, Caraco Pharmaceuticals, would be able to meet the regulatory standards of the Food and Drug Administration (USFDA).
Will be available from next year for Rs 2.5 cr.
Rolls-Royce thinks India will be a good market for its new luxury car, the Ghost
Investor wealth has increased by over Rs 25 lakh crore in just over five months from the beginning of the current financial year, on improving sentiments in the domestic and global markets.
Oil prices continued a weeklong rally today in Asia, jumping above $78 a barrel, after US gasoline inventories unexpectedly fell.
The sale of paints and colouring items for households is witnessing almost 25 per cent fall compared with last year despite the ongoing festive season.
Education and placement company EdServ Softsystems today said it plans to raise $25 million through Global Depository Receipts or Foreign Currency Convertible Bonds to fund its expansion in the school and online tuition services markets.
Of the top-10 most valued firms, six lost a combined sum of over Rs 68,000 crore from their market capitalisation last week, while the rest including the country"s most valued firm Reliance Industries (RIL) and oil major ONGC saw rise in their valuation.
Sunanda K Datta-Ray / New Delhi November 21, 2009, 0:08 IST
The year 2010 is going to be another tough year for the retailers in the UK, who are likely to cut more jobs driven by low consumer demand and weakness in the economy, says a survey.
India’s long-criticised Akash anti-aircraft missile is now blazing towards success. Its counterparts in the DRDO’s Integrated Guided Missile Development Programme, the Prithvi and Agni ballistic missiles, were on target from the start; the anti-tank Nag missile will also enter service shortly; the Trishul short-range anti-aircraft missile was abandoned unceremoniously. Now, after years of rejection from the military, the Akash is being accepted as a world-class missile.
The government today said it has shown "no favour" to Mahindra Satyam by extending the deadline for restating of accounts by six months to June 2010.
Mahindra Satyam today said it has received legal notices for claims totalling Rs 1,230.40 crore from as many as 37 companies, to whom it has replied terming these claims as "legally untenable".