Management
In a few weeks, Knopf will publish The Original of Laura: Fragments. The “fragments” is key. The design chosen for the final, unpublished manuscript that the late Vladimir Nabokov wanted destroyed is appropriate to the way he wrote it. The book includes reproductions of the 138 index cards on which the author, suffering from his last illness, wrote the unfinished version of the book he hoped would stand comparison with Lolita and Pale Fire.
Herta Müller, the new Nobel laureate in literature, has been a fierce critic of Ceausescu’s regime in Romania. She is highly regarded in Europe’s academic circles. She had received over 20 literary awards, including the IMPAC, before winning the Nobel this year. And I must confess an unliterary complaint: having read only two of her books, The Land of Green Plums and The Appointment, I have about as much enthusiasm for reading her as I do for swimming through a pool of cold porridge.
Higher MAT, depreciation also take their toll, says company
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.
The problems of the Special Economic Zones(SEZ) with the blueprint on Direct Tax Code, which does not envisage I-T exemption to units in these areas, are being dealt at the "highest level", a senior Commerce Ministry official said today.
Coordination at the national level will help in the screening of suspected influenza patients.
Hours before Maoist-backed activists held the Bhubaneswar-originating Rajdhani Express hostage inside West Bengal near the Jharkhand border, an angry Mamata Banerjee today demanded the anti-Maoist operations in her state should be stopped. And that the Union government prepare the ground for imposing President’s Rule.
Lookout notices issued against two other key associates of the former CM.
The Enforcement Directorate (ED) today arrested Vikas Sinha, brother of Binod Kumar Sinha, an associate of former Jharkhand chief minister Madhu Koda, for his alleged involvement in investing and routing Koda"s money through hawala transactions.
Karnataka Chief Minister B S Yeddyurappa today ruled out the question of dropping any of his ministers, a demanded made by the dissidents, but vowed to change his style of functioning.
Focusing on the education sector, the Uttarakhand government has announced setting up of a National Institute of Technology (NIT) in Pauri district at a cost of Rs 400-Rs 500 crore.
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.
German engineering company Voith today said it has acquired the entire stake held by its joint venture partner, Larsen & Toubro (L&T), in Kolkata-based Voith Paper Technology for an undisclosed amount.
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.
Monday and Tuesday were supposed to be the days for the mock auction for 3G spectrum, with the final auction to be held on January 14. Naturally, then, reporters rushed to meet Telecom Minister A Raja when the last date for the mock auctions passed without anything happening. Instead of announcing a new date, or giving the usual “no comment”, Raja surprised everyone by saying, “The date has not been pushed.”
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.
The country"s largest passenger car manufacturer Maruti Suzuki India (MSI) is planning to hike prices on rise in input costs, a company official said.
Business Standard / New Delhi December 31, 2009, 0:44 IST
Contrary to expectations that car sales dip in December, auto majors Maruti Suzuki and Hyundai Motor India are poised to grow 30 per cent in sales (the two companies control 72 per cent of the domestic market). General Motors is looking at 70-80 per cent increase in sales.
Essar oil gave up some of its gains and finally settled at Rs 140, up around 2% from the previous close. The counter witnessed heavy trades of 658,518 million shares as compared to 248,533 million shares.
Maruti Suzuki zoomed to a high of Rs 1,397, and finally settled at Rs 1,378, up 6.5% from the previous close. The counter witnessed trades of 482,292 shares, four times its two-week daily average traded volumes of 143,563 shares.
The signs of economic revival notwithstanding, the unemployment rate in the 16-nation euro zone climbed to 10 per cent in November 2009, the highest in 12 years.
The US confectionery giant Kraft is preparing to tap the bond markets to raise as much as 7 billion pounds to help finance its 11.9 billion pound takeover of the British chocolate maker Cadbury, say media reports.
Singapore sovereign wealth fund GIC today signalled it would shift its focus to Asia after its portfolio shed more than 20 per cent following heavy losses on Western investments.
Prime Minister Manmohan Singh will chair the meeting of the Inter-State Trade Council, which is expected to meet next month, to discuss ways to reduce transaction cost for exporters, besides simplification of procedures.
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.
Euphoric over finding traces of water by a Chandrayaan payload, confirmed by NASA"s spacemate onboard the country"s maiden moon mission, India is mulling exploring lunar surface deeper for water in its next Odyssey.
A day after the path-breaking revelation by the international scientific community that India"s maiden mission to the moon, Chandrayaan-I has succeeded in tracking presence of water on the lunar surface, ISRO chairman G Madhavan Nair today said that the mission was 110 per cent success.
Loan flow remains low, banks hike g-sec investment.
The company faced solvency margin issues recently.
The government today fixed the issue price of the initial public offer (IPO) of state-run explorer Oil India at Rs 1,050 per share, raising a cumulative Rs 4,982 crore.
State-run Canara Bank today reported a 50 per cent jump in net profit to Rs 1,052.58 crore for the third quarter ended December 31, 2009.
The Supreme Court has admonished drug major Ranbaxy Laboratories Ltd for not raising on the relevant occasion the issue of refunding Rs 1 crore penalty the government had imposed on it for allegedly overcharging drug prices.
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 Anil Ambani group today asked the Oil Ministry to follow a uniform policy and become party to power PSU NTPC"s case against Mukesh Ambani-led RIL to save power consumers from paying additional Rs 30,000 crore for the benefit of "private monopoly" gas producer.
Telecom regulator Trai today said it could not give its fresh views on the crucial issue of capping of licences by September 5 as licensing policy needed a closer look for the growth of the industry.
Analysts feel even this may not induce many shareholders to sell.
DLF rallied nearly 3% to Rs 373. The scrip touched an intra-day high of Rs 376. Around 3.9 million shares changed hands at the counter as against its two-week average traded quantity of 3.8 million shares.
Maharashtra allows eight private hospitals to treat patients.
Cox & Kings (Australia), the wholly-owned subsidiary of Cox and Kings (India), a travel and tour company, has bought MyPlanet Australia and Bentours International through a share sale agreement from First Choice Holdings Australia. The acquisition is being done through an ‘earn-out mechanism’ and is not being paid for from funds raised for acquisition from the company’s recent initial public offering (IPO).
Travel and tour company Cox & Kings today said one of its overseas arm has acquired Australia-based MyPlanet Australia Pty Ltd and Bentours International Pty Ltd for an undisclosed amount.
The Supreme Court will decide whether mutual fund brokers can resort to a process (dividend stripping) of creating a short-term loss to avoid tax.
The Supreme Court today sent the Ambani brothers’ cross appeals against the Bombay high court judgment to a three-judge bench to be constituted by September 1, which indicates that there would be no early decision on the myriad questions raided by the parties.
The US Supreme Court has refused to stay the much-touted Chrysler-Fiat deal, paving the way for the bankrupt American auto maker to steer itself out of bankruptcy soon.
The country’s largest special economic zone (SEZ), promoted jointly by Reliance Industries Chairman Mukesh Ambani and his confidant Anand Jain, is in danger of being scrapped. The zone was being set up by a company called Mumbai SEZ Ltd in the Raigad district of Maharashtra.
Tata Tea today said that it has evolved a strategy to compete globally with Coca Cola, Pepsi and Unilever in the beverages business.
Reduction in the fringe benefit tax (FBT) from 20 per cent to 5 per cent for media personnel working for both print and electronic media companies was among the demands submitted to the finance ministry today by Ambika Soni, the minister for information and broadcasting (I&B).
Drug maker Sun Pharmaceutical Industries today said its net profit rose by 22.24 per cent to Rs 1,817.73 crore in 2008-09 over the same previous fiscal.
Insisting that the Copenhagen accord was reached to the satisfaction of all concerned, government today told the Rajya Sabha that the provision for "international consultation and analysis" will in no way affect India"s sovereignty.
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).
India"s concerns on non-binding emission cuts have been met at the Copenhagen summit though the climate deal does open a window for a new legal treaty that may kill Kyoto Protocol based on principle of equity, a top government climate expert said today.
OPEC oil producers gathered in poverty-stricken Angola today said they would hold output firm amid comfortably high prices at their first ever meeting hosted by Africa"s new crude-pumping giant.
As the US and BASIC countries struck a deal on climate change, President Barack Obama today lauded India for setting forth "very significant mitigation" efforts and for voluntarily saying that it will reduce carbon emissions relatively.
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.
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.
Foreign companies hunt for buyouts in growing market with lower production costs.
Compensation to squatters would push up land acquisition cost.
Says the co-promoter deal will give it technology access, assured raw material supplies.
Global steel major ArcelorMittal, which has lined up Rs 1 lakh crore investments for India, said today it is in race for a chunk of the mineral-rich Chiria mines in Jharkhand.
The Orissa government today said it would assess the local situation in the trouble-hit site for Posco"s proposed Rs 50,000-crore steel plant before allowing South Korean President Lee Myung-bak to visit the place in January.
In the same way that you should get massages and take naps or meditate, you should, everyone should, make a point to eat out by yourself from time to time,” wrote Amanda Hesser in her wonderful Cooking for Mr Latte. “You should be kind enough to yourself to lavish your appetite with good food without the interruptions of company.”
Two-wheeler maker Ultra Motor Company today launched two new electric scooters priced between Rs 28,300 and Rs 31,900 (ex-showroom, Delhi).
P B Jayakumar / Mumbai September 25, 2009, 0:10 IST
Luxury car maker Honda Siel said today that it will commence exports of engine components like the crank shaft and connecting rod manufactured at its Rajasthan plant to its parent, Honda, in Japan, beginning from October this year.
The Sensex has gained 53 points to the day"s high of 16,412. The Nifty is up 32 points at 4,914.
Cotton exports from India, the world’s second-biggest grower, may double in the crop year starting October as higher domestic prices encouraged farmers to grow the fiber amid a forecast global production shortfall.
The global economic downturn has cast its shadow on venture capital investments in India which have slumped 72 per cent to $117 million in the first 6 months of the current year.
Engineering firm Larsen & Toubro (L&T) today said it has received an order worth over Rs 2,000 crore from GMR Energy for setting up a gas-based power plant in Andhra Pradesh.
The small car being developed by Bajaj Auto that will be marketed by Renault-Nissan alliance in India will be smaller than Maruti Suzuki"s Alto, according to the French car maker.
Bosch Ltd, a supplier of automotive, industrial consumer and building technology products, has failed to meet its target for the year-long share buyback programme. Robert Bosch GmbH of Germany, the parent company of Bosch, currently holds 71.18 per cent stake in Bosch Limited.
Though CM has shown confidence, Bihar is still not getting private sector investment.
The Gujarat government has requested the Union Finance ministry to exempt electricity transmission from service tax and keep transmission charges outside the purview of TDS, a senior state minister said.
Gail India
30 companies in queue for Cabinet nod in Jan
The Sensex has ended (provisional) at 16,912- up 74 points.
Bank of Baroda (BoB) ended at Rs 556, higher by Rs 33 or 6.4%, on the BSE.
A number of Reliance Retail outlets in Andhra Pradesh today came under simultaneous mob attack after a news report on some Telugu channels alleged the role of the Ambani brothers in the sudden death of former chief minister Y S Rajasekhara Reddy in a chopper crash last year.
After successfully conquering Europe with its hatchback A-Star, the country"s largest car maker Maruti Suzuki India (MSI), is turning its eyes to the South East Asian market with its latest compact car Ritz.
State-owned IDBI Bank is believed to have zeroed in on Kerala-based private sector lender Federal Bank for acquisition.
Delphi, a leading global supplier of electronics to the automobile sector, today said it has introduced CNG kits for vehicles that have been sold to consumers.
IDBI Bank had completed due diligence on a private bank for a possible acquisition, Chairman and Managing Director Yogesh Agarwal said today. “Talks are on. Due diligence has been done. I cannot commit on the time-frame,” he said on the sidelines of Bancon 2009-10.
IDBI Bank Chairman and Managing Director Yogesh Agarwal today said that the public sector player had completed due diligence on a private bank for possible acquisition.
All the 13 Congress ministers from Telangana region in Andhra Pradesh today decided to withdraw their resignation after the Centre"s announcement on holding discussions with political parties the state.
ECB will have to be raised within 12 months from the date of payment of the final instalment.
Tata Communications today launched its data centre in Pune and said it plans to invest up to Rs 500 crore over the next three years.
The mobile operators together added a whopping 19.10 million new subscribers in December, taking the mobile user base to 525.15 million, according to the data released by the sectoral watchdog Trai.
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.
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.
Public sector lender Bank of Maharashtra reported a 7 per cent drop in net profit to Rs 112 crore for the quarter ended December 2009 against Rs 120.6 crore in the year-ago quarter. Net interest income, or the difference between interest earned and interest paid, grew 5 per cent to Rs 361 crore from Rs 343 crore in the December 2008 quarter.
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
Sobha Developers, the Bangalore-based publicly-held real estate developer, is understood to be in discussions to raise Rs 300 crore at project levels.
The race to succeed Kenneth Lewis as the Bank of America Corp chief executive has narrowed to two internal candidates, though the board is still looking for a new face for the USA’s largest bank by assets, says a media report.
New Delhi today cautioned against countries taking protectionist measures to safeguard their economies saying trade barriers can diminish growth and create instability.
Most of the business leaders surveyed across the world sounded optimistic about growth prospects and are planning to raise headcounts this year, indicating that fears of world financial meltdown have receded, said a survey.
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 Infrastructure (R-Infra) will soon be the official owner of the second phase of the Mumbai Metro project. The state government and the company would sign a concession agreement for the Rs 11,000-crore project on Thursday, according to sources.
Harley Davidson Motor Company India (HDMCI), the wholly owned subsidiary of Harley Davidson Motor Company, the US-based motorcycle producing company, today announced the appointment of its national leadership team.
Japanese two wheeler major Yahama today launched its super-bike "VMAX" in the country priced at Rs 20 lakh (ex-showroom-Delhi). The company also launched limited edition of its "FZ" series in three variants.
The iconic US cult bike maker Harley Davidson is set to enter Indian markets tomorrow, two years after it was first granted permission to start operations in the country.
Prime Minister Manmohan Singh has rejected the UN deadline of January 31 for submission of emission targets and climate actions under the Copenhagen Accord.
Shilpy Sinha / Mumbai January 8, 2010, 0:47 IST
Led by market leader Hero Honda, two-wheeler manufacturers posted an impressive growth in sales during the month of November on the back of favourable bank lending rates and a good response to new launches. Heavy promotional campaigns and sales offers by most companies also aided demand.
The country"s largest real estate player DLF today announced a fully privately financed metro rail project for its townships in Gurgaon with a project cost of Rs 900 crore.
LG Electronics Inc, South Korea"s second-largest electronics maker, said today it has stopped the production of personal computers and is fully outsourcing it to local and Taiwanese companies.
Dismissing Australian suggestions that Indian reaction on the issue of attacks was "hysterical", External Affairs Minister S M Krishna today said India expects that its citizens, whether they are students or otherwise, should be safe in that country.
Customers now have many reasons to look beyond luxury sedans.
Having placed nearly 70 per cent of their students in just over a month, the IITs are hopeful of wrapping up the placements season much before March
President Pratibha Patil’s son is fighting on a Congress ticket against the powerful two-term sitting MLA and Maharashtra finance minister Sunil Deshmukh, who has quit the party to contest as an independent.
World Bank President Robert Zoellick today said India is likely to return to high growth of 8 to 9 per cent in a year or two, helped by strong fiscal and monetary actions to counter the global financial crisis.
The country"s largest carmaker, Maruti Suzuki India today said it is considering increasing the production capacity at its Manesar facility, and a decision on this is likely in a day or two.
Jagdish Khattar-led Carnation will start selling vehicle spare parts under its own brand by next year, even as the company plans to expand its used car business.
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
Bharat Sanchar Nigam Limited (BSNL) today launched its new service delivery platform "BSNL Live" - a web portal that would offer videos on demand and movie streaming for its 3G customers for the first time in the country.
NIIT Technologies surged 3% to settle at Rs 130. The counter clocked a volume of 4.82 million shares as against its two-week average traded quantity of 321,073 shares.
India would set up five energy parks by 2032 to raise the generation of nuclear energy.
What do Cannan Partners and Indian Institute of Management-Ahmedabad have in common? They have both appointed an entrepreneur-in-residence (EIR).
The recent top-level changes at PricewaterhouseCoopers (PwC) have not gone down well with some local partners, who see it as an attempt by PwC Global to take control of the Indian operations. PwC officials say such fears are highly misplaced.
Trinamool Congress MP Sudip Bandopadhyay has a fetish for shawls. During the winter session of Parliament, Bandopadhyay found many opportunities to show off his shawls that he wears in a trademark style.
Bank of Maharashtra and State Bank of India Funds Management have joined hands to distribute mutual funds of the latter through the bank"s branches across the country.
The liquidity crunch in the real estate sector has hit Indian Railways’ efforts to lease out surplus land for commercial development on public-private partnership.
Amid rising food inflation, the Reserve Bank of India (RBI) today said it will take "prompt action" if it felt the price rise is due to demand factors.
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.
The Shipping Minister said today that the ministry is taking all possible measures to encourage private sector investment in the shipping sector as major ports alone require over Rs 36,000 crore private investment by March 2012.
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.
After months of low-key response, the H-1B visa scheme, which was once most sought-after among Indian professionals, is suddenly appearing to be in demand again, with just 800 of the 65,000 slots remaining vacant.
Secondary steel maker Uttam Galva Steels today hiked prices of its products by Rs 3,000 a tonne citing increase in its input cost and firming global demand trend.
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.
2009 was a bumper year for bullion investors as both gold and silver reached record highs in domestic and international markets.
The Gurgaon Industries’ Association (GIA) has welcomed the initiation of the Haryana government for introducing frachisee system of power distribution in Gurgaon. Speaking at a meeting with the Managing Director, Dakshin Haryana Bidyut Vitran Nigam (DHBVN), Anurag Agarwal, here, GIA president V P Bajaj said that shortage of staff marred the quality of service by DHBVN.
As expected, the S&P CNX Nifty closed at 5,201 levels on long rollovers in index futures and key stocks futures. The index is expected to consolidate above 5,200 in the new series before moving above the short-term target of 5,350. The rollovers in the Nifty January futures, at 22 million, were at a five-month low, which indicates that bears are waiting in the wings. At similar point in July 2009, the Nifty had gained over 500 points in a couple months to move above 5,000 in September 2009. A similar trend may see the Nifty moving above 5,500 in the near future.
Shipping Corporation of India (SCI) has gained in early trades on plans of purchasing new container ships.
Aviva Life Insurance-joint venture between Dabur and Aviva and DBS Bank-Singapore headquartered financial services group today announced a bancassurance partnership in India. DBS has branches across 10 cities in India.
Shishir Prashant / Dehradun January 1, 2010, 0:23 IST
The markets have recovered from the lows and are flat again. The Sensex is now up one points at 17,403. The Nifty is down three points at 5,185.
As BJP grappled with dissidence among its MLAs, opposition Congress today fielded T B Jayachandra as its candidate to contest the post of assembly Speaker to be held tomorrow.
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.
Mines minister B K Handique today said the government is considering divesting its stake in copper producer Hindustan Copper.
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.
Bank of America Corp, the largest US lender, raised $19.3 billion selling securities at $15 apiece in the biggest sale of stock or preferred shares by a US public company since at least 2000.
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
TCG group-promoted TCG Life Sciences, a contract research firm in the area of drug discovery, has signed an agreement with pharma giant Pfizer.
Stock markets were propelled by robust industrial growth data, the government’s reform initiatives and strong global markets. The Sensex ended the week higher by 690.55 points, or 4.27 per cent, at 16,848.83, while the Nifty closed at 4,998.95, up 202.80 points, or 4.23 per cent.
SAT upholds Sebi order banning Sharma from the securities market for a year.
The share of SGX Nifty has risen from 2% in March to 5.9%.
Despite the 2.72 per cent-correction last week, the Nifty managed to close above its trendline support on Friday. The index ended the week with a loss of 138 points at 4,945. Although, the Nifty has ended marginally below its short-term (20-day) Daily Moving Average (DMA)of 4,957, the index ended above its trendline support around 4,920.
Management consulting firm Boston Consultancy Group (BCG) will soon start consultations with National Bank for Agriculture and Rural Development (Nabard) to prepare a roadmap for its restructuring.
Late-noon short covering boosted markets to stage a spectacular recovery on the last trading day of this week. The Sensex gained 173 points from last week"s close to end with a gain of 1% at 17,022. The Nifty surged 1% to 5,052, helped by banking and oil stocks.
Admittedly, Nehru was there at the start of things, the end of an age, the awakening of a nation, that tryst with destiny. So he and others of his generation were better placed than we are to think laterally, to explore all of history for models towards which to incline the path of our future. He also spent years in prison, an enforced separation from the bustle and fire of the freedom movement which enabled him to look beyond the constrained present to the past and future, all in the service of his country. In other words, he used his time in prison to think big for India.
The Sensex opened in the red at 16,772, mirroring negative global cues. Follow-up selling saw the index slip to a low of 16,636 - down 150 points from the previous close.
The Sensex finally ended (provisional) at 17,032, up 247 points. The NSE Nifty ended (provisional) at 5,060, up 71 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.
The Union government has told the Supreme Court that the rights and obligations of NTPC and RIL could not be regarded as similar in status to the private arrangement between RIL and RNRL. In an affidavit filed yesterday in the appeals by the Ambani brothers on their gas dispute, the government stressed that NTPC “is not only a public sector undertaking but the process involved for price determination in the case of NTPC gas was by international competitive bidding.”
GE Healthcare is bullish on the public sector in India and is aiming to rake in substantial earnings through the public-private partnership (PPP) route. The company has already worked on projects with the Gujarat and Maharashtra governments and is looking to partner with West Bengal, among others.
Sun Pharmaceutical Industries’ attempts to take over Israeli drug major Taro Pharmaceutical has received support from Proxy Governance, an investment advisory agency.
94% foreign investment in aerospace alone.
The Nifty futures faced resistance at 5,060 and closed in a Doji pattern, indicating indecisiveness among traders. The trading volume on the futures & options segment suggests the index is set for an either side breakout in the coming days. The Nifty is expected to face strong resistance above 5,100 and support for the time being is seen at 4,800-4,900.
Great Eastern Energy Corp today said it has completed laying a gas pipeline from Asansol to Durgapur in West Bengal.
Sensex ends up 35pts
As many as five companies among the elite club of top-10 Sensex firms have witnessed an erosion of over Rs 24,000 crore from their market capitalisation previous week, while Reliance Industries (RIL) maintained the top position with a valuation of Rs 3.49 lakh crore.
A revival in the US financial services sector and better cost management would help TCS sustain profitable growth.
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.
Oil prices fell to near $71 a barrel today in Asia, giving up part of the previous day"s big gains, as the US dollar rebounded.
A global tea shortage may widen this year and extend into 2011 as a rebound in production in Africa, Sri Lanka and India trails demand growth, the world’s biggest tea-plantation company said.
Nine of top-10 country"s most valued firms added nearly Rs 49,000 crore last week with the exception of power equipment maker Bharat Heavy Electricals (BHEL).
Sidhartha / Mumbai January 12, 2010, 0:22 IST
Lower than expected refining margins have dragged down the company"s profits.
- Malegaon accused wants to contest LS polls
Wants to use the aircraft for light cargo purpose in North East region
On January 7, Ramalinga Raju confessed to his monumental fraud. He had, Raju said in a letter to the stock exchanges, cooked Satyam’s books for seven long years — revenue, profit, bank balance et al. Raju was soon arrested and put in the Chanchalguda prison. The Union government swung into action. A board was appointed to manage the affairs of the company. In a matter of months, Satyam was sold to Tech Mahindra.
Microsoft had set a target of having Windows 7 installed on over 100 PC models.
Mahindra Satyam is reportedly on the verge of finalising a deal to payback an undisclosed sum to the Victorian government following the collapse of a $75 million IT project in Geelong.