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Senior Samajwadi Party leader Amar Singh today ruled out withdrawal of his resignation from party posts, saying he would "not slog" for the organisation the way he used to.
PricewaterhouseCoopers’ (PwC’s) head of tax practice Dinesh Kanbar, and close to a dozen other senior tax executives, are leaving the firm to join rival KPMG.
A K Bhattacharya / New Delhi December 22, 2009, 0:02 IST
A major tax reform like goods and services tax (GST) is a challenge and considerable preparation is necessary before implementing it. There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy (NIPFP).
Bangladesh Prime Minister Sheikh Hasina today left for Kolkata along with several Cabinet ministers to attend the funeral of Marxist patriarch Jyoti Basu.
The Telecom Regulatory Authority of India (Trai) is planning to make the one-second pulse a mandatory tariff option for all operators, a move that will benefit consumers by potentially reducing call charges and adding transparency to their tariff plans.
Aditi Phadnis / New Delhi November 28, 2009, 0:00 IST
Suzlon Energy Limited (SEL), India’s largest wind turbine manufacturer, has completed and commissioned a 19.5 MW wind farm project for state-run Gujarat Mineral Development Corporation (GMDC) at the Maliya –Miyana site in Rajkot district of Gujarat.
India said the Chinese government had assured it no dam on the Brahmaputra was proposed
Financial services firm Edelweiss Capital today announced that it had entered into a joint venture (JV) agreement with Japanese insurer Tokio Marine Holdings for a foray into life insurance.
Novartis finally ended with a Rs 21 or 3.6% gain at Rs 590. Around 30,063 shares changed hands at the counter today.
Overseas borrowing by India Inc declined by around 9 per cent in November to $2.35 billion compared to the previous month.
The government has identified 10 lucrative mega highway projects to be awarded to private developers. These projects, involving investment of Rs 45,000 crore, will be awarded in the next two years.
With the economic slowdown impacting the demand for credit, the credit-deposit (CD) ratio of the commercial banks in Orissa declined by 4.08 percent by the end of September compared to the same period last fiscal.
Disinvestment in three power PSUs - NTPC, Rural Electrification Corporation and Satluj Jal Vidyut Nigam - would be completed during the current financial year while the process of selling stake in other profit-making PSUs is already underway.
While many politicians lobby to get a Rajya Sabha berth, former Lok Sabha Speaker Somnath Chatterjee has politely turned down a proposal from the government to become a nominated member of the Upper House. According to top sources in the government, Prime Minister Manmohan Singh was keen to bring Chatterjee — who played a crucial role during the government’s tension with the Left parties over the Indo-US nuclear deal and defied his party’s diktat to resign from the Speaker’s chair — in the Rajya Sabha. But Chatterjee told Congress managers that after having been Speaker, he did not see merit in occupying the back benches of the Rajya Sabha.
Public sector telcos BSNL and MTNL together have Rs 41,471 crore cash on hand as of September 2009, the government said today.
Cases of attacks on Indians in Australia have increased more than five fold this year compared to last year, the Rajya Sabha was informed today.
Government today said it is concerned about development of backward districts and of "BIMARU" (Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh) states and has allocated Rs 4,670 crore for underdeveloped districts for the 11th Plan period.
ICICI, Kotak Mahindra announce fixed-cum-floating rate schemes.
Allcargo Global Logistics today said it will raise Rs 100.97 crore by issuing debentures to Black Entities (Investors) on preferential basis.
The Karnataka government is contemplating sending a proposal to the Centre seeking compensation for big farmers who lost their crops during the floods that ravaged parts of north Karnataka in October.
India’s oldest exchange, the Bombay Stock Exchange (BSE), has approached the Securities and Exchange Board of India (Sebi) for listing its shares. Sources said the listing would be through an initial public offering. This will make BSE India’s first listed exchange.
The Trinamool Congress got a letter from the parliamentary affairs ministry asking it to nominate a party MP for an overseas tour. Railway Minister and Trinamool chief Mamata Banerjee took less than a second to decide and nominated singer-turned-politician Kabir Suman.
Natco Pharma touched a high of Rs 134 and a low of Rs 124. The stock finally ended with a 5.2% at Rs 129. Around 2.96 lakh shares were traded on the BSE as against the two-week average trade of 1.06 lakh shares.
Nitin Gadkari today became president of the main opposition Bharatiya Janata Party (BJP), replacing Rajnath Singh. He is the first Maharashtrian to reach the party’s top post.
In the words of our present Chief Justice of India,“….. the citizens’ faith in the judicial system will begin to wane because justice delayed is justice forgotten, excluded and finally discharged “ The quote certainly does not auger well if one were to look at pendency of tax cases in different layers of our judicial hierarchy – 28,000 cases in high courts with disposal rate of roughly 6000 each year. Ironically, the situation is worse in Mumbai, Delhi, Kolkata & Chennai where the wait time ranges between 10-15 years. Not to forget the figure of 2 lac crores often debated in the Parliament as arrears of tax in dispute. These could be more staggering in the future.
The Goods and Services Tax (GST), the new tax regime, would have four slabs and these were likely to be unveiled within 15 days, Chairman of the Empowered Committee of State Finance Ministers Asim Dasgupta said today.
N Ram has been chosen for this year"s prestigious Lokmanya Tilak National Journalist award.
Twelve journalists, including one in India, were killed in South Asia this year, mostly in conflict areas, according to a report released today by an organisation working for the rights of media persons.
The year was the best in more than a decade. 2010 could churn out modest returns while being increasingly volatile.
Indian diplomats are expected to meet Australian officials in a bid to difuse diplomatic tension between Canberra and New Delhi after the murder of 21-year-old Indian migrant in Melbourne.
The Centre will spend around Rs 31,000 crore to support the state universities across the country to improve the quality of higher education, said the Union minister for Human Resources Development (HRD), Kapil Sibal.
Australia will ask New Delhi to crack down on the unscrupulous education agents in India who give misleading information to students willing to pursue studies in the private institutes Down Under.
Seeking to strengthen bilateral cooperation in the petroleum space, India has called for partnership with companies in the African hydrocarbon sector.
By far the most important skill in business,” wrote the London Times’s Sathnam Sanghera in a recent column (also carried in this paper), “is the ability to tell a decent anecdote.” I think he’s right, especially when it comes to the old-fashioned way of doing business — face to face. “Frankly,” said Sanghera, “banter should be taught at school alongside Geography and Maths. Nothing will benefit your career more.”
The Organization of Petroleum Exporting Countries (Opec) members had a consensus to keep oil production quotas unchanged as demand remained weak in developed economies, officials from Saudi Arabia and other Opec nations said.
International mergers and acquisitions are forecast to decline by 56 per cent this year compared with 2008, the largest year-on-year decline since 1995, the Organization for Economic Cooperation and Development (OECD) said in a report.
Gold futures prices declined by 0.11 per cent on the Multi Commodity Exchange today as speculators indulged in reducing their positions in tandem with weak overseas trend.
Coca-Cola launched its energy drink brand Burn in the Indian market a few days ago, targeting high-spending, young, urban consumers. Positioned as an after-hours drink, Burn is setting its sights on pub-goers and the clubbing crowd.
French car maker giant Renault today said it will launch two models in India in 2011 that will be rolled out from the company"s upcoming Chennai plant.
US jobs: Optimism over the small decline in the US unemployment rate is premature. The stock market enjoyed a mini-rally after the government reported that the jobless rate had fallen to 9.4% from 9.5%. But this was caused by a decline in the labour force, which is not a sign of economic revival. The fiscal and monetary mess could lead to a halting recovery with ongoing job losses.
The number of jobs lost in the US came down sharply by 247,000 as the unemployment rate declined to 9.4 per cent in July, one of the strongest indications yet that recession in the world"s largest economy is easing.
SRF Ltd has commissioned its project for manufacturing polyester industrial yarn at its Gummidipoondi plant in Tamil Nadu. The project has a capacity of 14,500 tonnes per annum and had been set up at a cost of around Rs 186 crore, it said in a filing to the Bombay Stock Exchange.
Kolkata-based Pawan Kumar Ruia Group, which owns Dunlop India, today said that it had acquired a 60 per cent stake in Germany"s Henniges Automotive Grefrath GmbH, a supplier of automotive sealing systems to leading carmakers, for an undisclosed sum.
Sunil Jain / New Delhi January 04, 2010, 0:20 IST
Reliance Industries Executive Director R Ravimohan is no more. He died Monday night due to a severe cardiac arrest. He was 52. Ravimohan is survived by wife Madhuralakshmi, daughter Hridaya and son Jagad.
India will soon have its own dedicated satellite for providing satellite phone (satphone) services, instead of depending on foreign satellites. The Indian Space Research Organisation (ISRO) is launching a satellite next year which will carry a large S-band transponder to help India provide its own signals for satellite phones.
Dilip Kumar Jha / Mmbai August 11, 2009, 0:24 IST
Financial behemoth Citigroup was under pressure from US regulators to replace its chief financial officer Ned Kelly, says a media report.
Exporters today appealed to Prime Minister Manmohan Singh to suspend export of raw cotton saying rising prices of the commodity has become a double whammy for textiles industry, hit by the global demand slump.
India is unlikely to achieve the $200 billion export target this fiscal due to the continuing global financial crisis, the Rajya Sabha was informed today.
India"s exports were in line with the Foreign Trade Policy (FTP) 2004-09 targets but for the last fiscal when the country"s merchandise trade became a victim of demand recession in the US and Europe and ended flat.
The Reserve Bank of India (RBI) on Friday said it would ask banks to furnish details of their direct and indirect exposure to Dubai World, the beleaguered Dubai government-owned holding company which asked for more time to repay its debt.
The government today said edible oil output is likely to decline 7.4 per cent to 7.96 million tonnes in the 2009-10. Edible oil production, last year, stood at 8.6 million tonnes. Oil season runs from November to October.
Encouraged by the outcome of earlier initiatives, the Centre is preparing a roadmap to take the disinvestment process forward over the next two years.
The reversal of easy monetary policy would be a gradual process as the central bank is focusing on striking a balance between growth and inflation, Reserve Bank of India (RBI) Deputy Governor said here today.
Women will be able to avail a single window service for all programmes run by the government for them under a new national mission for empowerment of women. Minister of State for Women and Child Development Krishna Tirath today said the mission will help make development programmes easily accessible to women from all sections of society.
The government expenditure on setting up 2,500 model elementary schools through public private partnership (PPP) during the Eleventh Plan period (2007-2012) would be less than Rs 500 crore, even as the allocation for it was originally planned to be Rs 1,250 crore.
As part of the energy conservation awareness, Orissa State Co-operative Milk Producers’ Federation (Omfed) launched packets of milk sold by it with a message on energy conservation.
As the Obama Administration moves ahead with its new policy of engaging the Burmese military junta, a top US official today said it will actively consult India along with China on its new strategy.
Prime Minister Manmohan Singh was scheduled to meet President Barack Obama on November 24th and be in Washington for another day after that. Later, after the dates had been fixed, officials here realised the 27th was Thanksgiving and it was very possible officials would be in a holiday mood well before this. So, the dates for Singh’s departure have been advanced and he will meet Obama on the 23rd — even accounting for the holiday spirit, Washington will still be in working mode when Singh’s there.
The Punjab region registered its first swine flu death today after a 12-year-old school girl from Ambala fell victim to the virus.
Pharma majors Ranbaxy and Aurobindo Pharma today said that they have received final approval from the US Food and Drug Administration(USFDA) to manufacture and market Sumatripan Succinate.
Two days after a student at the Indian Institute of Management, Ahmedabad (IIMA) tested positive for H1N1, the management institute has got its act together to handle the situation.
A strong market rally triggered by the government"s encouraging economic growth forecast helped the country"s top-10 companies add over Rs 70,000 crore in the past week.
The Orissa government today approved 16 investment proposals worth about Rs 30,000 crore, including the expansion plan of domestic major Aditya Alumina.
Ratan Tata’s recent revelation that his successor could be a foreigner may have been too much for other Indian businessmen to swallow. Few, after all, are ready to turn their business over to a professional to run, let apart a foreigner. Yet, many of them have begun to appoint foreigners in key leadership positions.
Reliance Brands, a part of Reliance Retail, today said it has joined hands with US-based Timberland to distribute the latter"s footwear and apparel in the country.
Bharatiya Janata Party (BJP) leader Rajiv Pratap Rudy had egg on his face today over his earlier statement that as the BJP did not get the mandate to rule in Jharkhand it should sit in the Opposition.
DuPont India, a wholly-owned subsidiary of US-based E I du Pont de Nemours and Company, plans to invest about Rs 150 crore in DuPont Knowledge Centre at Hyderabad over the next three years.
Car maker Premier Limited (formerly Premier Automobiles Limited) re-entered the Indian passenger vehicle market with the launch of its compact sports utility vehicle (SUV) ‘Rio’ on Thursday. The new vehicle, which seats five people, aims to cater to the segment between mid-size passenger cars and larger utility vehicles.
IT industry body Nasscom today said the sector will regain double-digit growth from April next year leaving behind the prolonged recession.
TRS today said it is confident that the UPA leadership will fulfill the announcement it made for the formation of a separate Telangana state despite vehement opposition from other regions of Andhra Pradesh over the issue.
Pharma major Wockhardt today said it has completed the sell-off process of its animal health division to France-based Vetoquinol SA.
The government and various PSUs may be on an austerity drive, but this didn’t stop ONGC from sending a calendar to a director in the oil ministry by registered post — the stamps on the calendar were worth Rs 122. It would have been cheaper for ONGC’s office in the capital to send it with a driver.
Market-regulator, Securities and Exchange Board of India (Sebi) wants listed Indian entities to disclose sufficient information to the market to ensure transparency in their functioning.
The Indo-US strategic relations deepened further in 2009 which saw installation of Barack Obama as the first black President, who attached high importance to bilateral ties and invited Prime Minister Manmohan Singh as his first State Guest.
West Bengal Chief Minister Buddhadeb Bhattacharjee on Saturday discussed with Prime Minister Manmohan Singh the law and order including Naxalite violence in the state. Some of the developmental issues also came up for discussion during the 30 minutes meeting Bhattacharjee had with the Prime Minister.
A meeting of officials of the Orissa government, ArcelorMittal and Posco will be held this week to clear the hurdles delaying investment of around Rs one lakh crore in the state by the two global steel giants.
Long before L N Mittal told a British newspaper that he may pull out of the 12 million tonne greenfield steel project in Orissa, the writing was on the wall. The sequence of developments on the projects, since the signing of the agreement between ArcelorMittal and the state government in December, 2006 had already put it in the ‘doubtful’ category.
Reliance Industries, the operator of India"s biggest gas field, today said it is paying over $9 for buying liquefied natural gas from spot market as the government has not allowed use of fuel pumped by it for captive use, a company official said.
The status would enable the institute to offer graduate, post graduate and PhD degrees instead of diplomas
Ethanol producers are cheering the government’s decision to raise the price of ethanol to Rs 27 a litre, as the decision may fetch long-term profits. Sugar companies, the main producers of ethanol, a by-product, have been selling it at Rs 21.50a litre.
Mahindra Satyam today said its financials are not necessarily bad as has been made out, even as investors were roiled by reports that the accounting fraud in the company could be double the initial estimate of Rs 7,800 crore.
The Mukesh Ambani-led Reliance Industries (RIL) is not responding positively in connection with the contract awarded to it for revival of the closed sugar mill at Motipur in Bihar"s Muzaffapur district, according to state Industry minister Gautam Singh.
After a year long slump due to global meltdown, first year students of elite B-schools are back in the radar of companies in finance and banking sectors which are now hiring them for summer internship programmes.
Facing allegations of irregularities in spectrum allotment, Telecom Minister A Raja today hit out at the BJP saying free distribution of radio frequency among operators during the NDA regime may have cost the country over Rs 1.6 lakh crore.
The rift in the ruling BJP in Karnataka widened further today with the two Reddy brothers, who are ministers in the state cabinet, intensifying their efforts to make chief minister B S Yeddyurappa yield to their pressures.
Finance Minister Pranab Mukherjee is leaving for Saudi Arabia today to attend a meeting of the joint commission formed by the two countries to promote bilateral ties.
Telecom Minister A Raja is understood to have broached the issue of BSNL"s Rs 35,000- crore expansion programme with Prime Minister Manmohan Singh, amid controversy following propriety issues raised by two government nominees on the company"s Board.
You can purchase property Directly or go for Sect0ral stock picks and PMS.
RIL to revise development plan for these fields.
RIL Director PMS Prasad addresses the many charges laid at the company’s door
A move is afoot to transfer a major shipyard to the Defence Ministry, a step aimed at creating capabilities to construct nuclear submarines.
The board examinations for Class-X and Class-XII under the Central Board of Secondary Education (CBSE) will commence from the first working day of March next year.
The Indian private industries who are keen to participate in the large growth of civil nuclear power programme in the country should immediately concentrate on the manufacturing of equipments to become a major N-supply chain provider and later even exporters, Chairman, Atomic Energy Commission, Dr Anil Kakodkar said.
Shyam Ponappa / New Delhi December 3, 2009, 1:35 IST
Ever since the Clinton visit, rumours have been flying fast and furious. Insiders claim that India has fast forwarded the Nuclear Civil Liability Bill, and the media has held forth at length on the probable facts and interpretations. Some angst is misplaced, for example the exclusion of the jurisdiction of civil courts.
Competing with Vedanta Resources, Grupo Mexico has come up with a $1.6 billion reorganisation programme for regaining control of its bankrupt firm, Asarco.
Competing with Vedanta Resources, Grupo Mexico has come up with a $1.6 billion reorganisation programme for regaining control of its bankrupt firm Asarco.
The World Health Organisation (WHO) has said that 33 countries have reported 5,728 laboratory confirmed cases of swine flu with Cuba, Finland and Thailand the latest to join the list.
With no clarity on availability of third-generation (3G) mobile spectrum, the government is considering, among others, restricting the number of private players to just two to avoid a situation where it would need to pay damages to operators.
The big three US automakers - Ford, Chrysler and General Motors - saw their US sales decline by double digits in 2009 as growing unemployment and a sluggish economy curbed demand for vehicles.
Global automobile giants converged here as the 10th edition of the Auto Expo opened today, rolling out an array of cars mostly the small ones with a green theme.
The Planning Commission today said it would start interacting with Union ministries over the next two-three weeks over their demands for gross budgetary support for 2010-11.
Tata Group Chairman Ratan Tata today said that deadline for his retirement was still intact, but before hanging his boots he would like to find a successor.
Martin Feldstein / January 2, 2010, 0:55 IST
Rajat Roy / New Delhi November 22, 2009, 0:36 IST
More than lobbying for concessions, CII strove to be an instrument of change.
The Delhi-based franchise of audit firm PricewaterhouseCoopers today approached the Delhi High Court seeking quashing of proceedings initiated against it by the government in the aftermath of Satyam scam.
The government is to shortly consider the recommendation to sell three units of Burn Standard Company Ltd, an ailing public sector undertaking.
The prices of flat steel — used in automobile and consumer durables — are set to increase by Rs 700-1,500 a tonne from January 1, after showing a soft-to-downward trend in the last five months.
Coffee exports globally have fallen 7.8 per cent to 13.4 million bags (1 bag= 60 kg) in the first two months of the 2009-10 crop year, whereas those from India have risen over 20 per cent to 516,000 bags in the same period, the International Coffee Organisation (ICO) has said.The coffee year runs from October to September.
Steel Minister Virbhadra Singh today said that the government has given the nod for divesting an additional 8.38 per cent stake in iron ore producer NMDC, a move which may fetch the exchequer over Rs 13,500 crore.
The power situation is expected to see a dramatic change once the Kudagi thermal power plant goes operational. The foundation stone for the thermal plant near Basavana Bagewadi in Bijapur district will be laid in January next. The National Thermal Power Corporation has approved the proposal for setting up the coal-based 4,000 Mw plant at its meeting held in New Delhi on November 27.
Digital imaging equipment maker Nikon plans to go "aggressive" with its marketing campaigns as it looks to take on rivals like Canon and Sony for brand visibility and gain better growth momentum in the country.
With post-monsoon construction about to take off, major producers of steel have announced a rise in prices across product categories.
Gujarat’s Ahmedabad Stock Exchange (ASE) plans to tie up with the country’s top equity bourse, the National Stock Exchange (NSE), say sources within ASE.
The government today said it is considering a 20 per cent stake sale in steel major SAIL, proceeds of which would partly fund the company"s Rs 70,000-crore expansion projects.
Three states, Andhra Pradesh, Rajasthan and West Bengal, don’t have governors. ND Tiwari resigned and vacated the Raj Bhavan in Hyderabad recently. Gopal Krishna Gandhi quit the Raj Bhavan in Kolkata and Jaipur is vacant after the death of former foreign secretary SK Singh. The result is that various people in the race are making rounds of politicians they think will give them a leg-up to the post. Finance Minister Pranab Mukherjee’s residence is obviously one pilgrimage centre. Watch this space for more on this front.
Buoyed by the diplomatic success of former US president Bill Clinton in securing the release of two American journalists from North Korea, a top Senator has asked Pyongyang and Washington to now resume dialogue on the denuclearisation of the Korean Peninsula.
The government today said it has initiated several projects to develop high-temperature tolerant superior foodgrain varieties and also to study the impact of climate change on agriculture.
With India having reservations on putting a cap on emissions, the United States today said it is willing to have discussions on climate change rather than dictating terms.
British telecom major Vodafone today reported a 9 per cent rise in revenue at 10.74 billion pounds in the first quarter ended June 2009, primarily helped by good performance in some markets, including India.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today pitched for monthly release of inflation data as it is more sensible than the current practice of coming out with weekly figures.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said food prices would ease during the coming months and economy would grow more than 6.3 per cent, as estimated earlier by the Plan panel.
US-based auto component maker Arvin Meritor today said it has opened its first technical centre in India and would be recruiting 100 engineers for the facility as part of its efforts to improve product development.
The Polo produced at the Volkswagen plant in Chakan in Maharashtra may be good enough for the Indian market, but made in India is not good enough for Volkswagen. At the Polo’s launch in the auto fair in the Capital, most things in the company’s stall, right down to the chairs, had been imported.
Tamilnad Mercantile Bank (TMB) is targeting a business of Rs 50,000 crore by 2012-13 for which it would require around Rs 1,000 crore capital.
Steel Minister Virbhadra Singh today said the proposals for diluting stake in two state-run companies SAIL and NMDC will soon be taken to the Cabinet for its approval.
Steel Minister Virbhadra Singh today said the proposals for diluting stake in two state-run companies SAIL and NMDC will soon be taken to the Cabinet for its approval.
Bharti Airtel is likely to sign an agreement with Bangadeshi firm Warid Telecom for acquiring 70 per cent stake during Prime Minister Sheikh Hasina"s visit to India next week.
Long delays in environment and forest clearances are turning out to be a major hindrance to implementation of various development projects.
India has cautioned against immediate withdrawal of stimulus packages by the governments as it may lead to "collapse" of the world economy.
Markets opened weak this morning following cues from the Asian markets. The Securities and Exchange Board of India’s (Sebi’s) move against Reliance also dampened the sentiment. The stock slipped below the Rs 1,000-mark in early trades.
Swinging into action to defuse the rebellion in the Congress party, Prime Minister Manmohan Singh and the Congress brass today assured MPs that the United Progressive Alliance (UPA) was in no hurry to form a separate Telangana state.
Baltic Dry Index touched 4,381 on Tuesday, a 14-month high.
A rise of about 70 per cent over 45 days in the Baltic Dry Index (BDI), the global benchmark for shipping freight rates of dry bulk carriers, has failed to cheer Indian companies, who see it as only a temporary surge.
Freight rates for shipping tankers and bulk carriers have seen a reverse trend in the last three weeks, as the approaching winter increases the demand for crude carriers while the rising inventory of iron ore in China dampens the requirement for the vessels it is carried by.
Piramal Life Sciences, a research and development (R&D) arm of Piramal Group is investing Rs 200 crore in the next two year"s period for its ambitious programme to discover and develop new chemical entitities (NCEs) and Novel Drug Delivery Systems (NDDSs), a top company official said here.
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
Emerging-market stock funds lost $1.87 billion in the week ended June 24, the first week of net outflows since early March, on concern that a rebound in exports will be delayed, EPFR Global said.
The prospect of a revival of the disinvestment agenda has prompted bureaucrats in the power ministry to revive plans for utilities to raise money from the markets, so that the government gains the opportunity to sell its shares.
The European Commission today said it will initiate an anti-trust probe of as many as six pharmaceutical companies including Indian entities -- Lupin and Matrix Laboratories -- for restrictive business practices and abusing dominant market positions.
Tata Motors, the third biggest player in the passenger car market in the country, is aiming to double its market share in the utility vehicles (UVs) segment in Orissa from eight per cent at present to 16 per cent in the next few months.
Mines Minister B K Handique today said the Rs 4,402-crore expansion project of the National Aluminium Corporation (Nalco) will be completed shortly.
Swiss cement maker Holcim today said its strong presence in emerging markets, including India, has helped the company balance the fall in earnings in other regions.
The Madras High Court today ordered issuance of notice to Union Home Minister P Chidambaram on a petition from his AIADMK rival challenging his election from Sivaganga constituency in the May Lok Sabha elections.
The stock settled at Rs 1,438, up 2% from its previous close. The counter clocked volumes of 25,792 shares as compared to the two-week daily averegae traded volumes of 49,619 shares on the BSE.