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Foreign institutional investors (FIIs) were net sellers of Rs 459.18 crore (provisional) today, according to data released by BSE.
Axis Private Equity (Axis PE) and IL&FS Financial Services have announced an investment of Rs 90 crore in Shalivahana Green Energy Ltd (SGEL).
Pantaloon Retail, the country"s largest retailer, today said it plans to raise as much as Rs 1,000 crore by selling shares to investors. The company board gave its approval for the fund raising plans today.
Mercedes Benz’s latest offering in India, the new E-class sedan, could well reclaim the top spot within the Germany luxury car makers’ stable in eastern India. Since 2007, the automobile giant"s lower-priced C-class model has dominated the Kolkata market by selling substantially more, especially during 2008.
In order to step up the regulatory grip on commodity derivatives market, Forward Markets Commission (FMC) has recently instructed bourses to ensure compliance of the Prevention of Money Laundering Act 2002 (PMLA) by their members. “This is more of a pre-emptive step to prevent unscrupulous money coming into our (commodity futures) market,” BC Khatua, chairman, FMC, said.
T here’s a reason that many writers have odd personalities: writing is such a solitary exercise that you can see why they might eventually go quite postal, or at least start wearing funny hats and divorcing their spouses. I love to look at the Guardian’s online edition where they have a column called ‘Writers’ rooms’, which features a photograph of some one, well, writer’s room, and a short write-up outlining the space and how the person uses it, according to their particular routines, eccentricities and superstitions. It makes me feel very well adjusted because I don’t have, for instance, giant paper fish hanging from the ceiling, or a dessicated crocodile on the wall.
Abheek Barua / New Delhi January 6, 2010, 0:09 IST
Finance ministry begins internal discussions.
Pakistani-origin American David Coleman Headley, charged by FBI of being involved in the Mumbai terror attacks, was using US as a base to plan future attacks outside the country, a top Senator said today.
Gold prices today spiked to a new high of Rs 16,900 per 10 gm in the bullion market here on strong marriage season demand amid firmimg global trends. Gold gained Rs 75 to close at Rs 16,900, a level never seen before. The precious metal in the US markets scaled a new high of $1,099 an ounce.
Ailing Jyoti Basu is responding to treatment and there is a positive change in his health condition, CPI(M) politburo member Sitaram Yechury said today.
The B K Chaturvedi committee set up to recommend ways to implement road projects faster and more efficiently, has recommended that the National Highways Authority of India (NHAI) be given sovereign guarantees on the loans it raises from the market.
The stock slipped further into the red to touch a low of Rs 131, down 8% from the days high. It rebounded to end with a gain of 3.5% at Rs 136. The counter clocked relatively hefty trade volume of 1.18 million shares, as compared to its two-week daily traded average of 820,391 shares.
Hinting at a buoyant economy in 2010, Uday Kotak, vice chairman and managing director, Kotak Mahindra Bank Ltd said that the total inflow of funds in India, comprising of insurance, FIIs and mutual funds may touch $ 40 billion.
Commercial vehicles major Ashok Leyland, Hinduja group"s flagship company, today reported an increase of 164 per cent in its sales in December 2009.
While the finance ministry today admitted to Rs 20,000-22,000-crore shortfall in the indirect tax collections during the current year, it went on to assure the industry that the tax burden on people would come down by 25-30 per cent with the introduction of the proposed goods and services tax (GST).
Asian stocks fell, led by banks and developers, as UBS reported a wider-than-estimated loss amid investor concern that the withdrawal of stimulus measures will cause the global recovery to falter.
Aiming to expand its global footprint, JK Tyre is exploring possibilities to acquire a company in the South East Asian region.
Marxist patriarch Jyoti Basu, who is battling for his life, today had Prime Minister Manmohan Singh visiting him and offering help in bringing experts from other parts of the country for his treatment.
Kolkata is one place where domestic water supply isn’t billed. The Hooghly river is the primary source and there’s no supply crisis looming, unlike some other cities. That apart, there are no charges for supplying, for the most part.
With a year of downturn behind us, all major economic think tanks and forecasters who earlier expected the growth rate to dive below 6 per cent, are hopeful of above 6 per cent growth in 2009-10 (it was 6.7 per cent last year) and a growth of around 7 per cent in 2010-11. Such a rate of growth would be one of the highest in the world.
JD-S today intensified its agitation against the Bangalore-Mysore express highway project promoted by Nandi Infrastructure Corridor Enterprise (NICE), with party chief and former prime minister H D Deve Gowda staging a dharna with farmers at a village coming under the scheme.
While the run-up in prices have made metal stocks expensive, medium term prospects are unattractive due to weak demand and inventory pile-up.
The Sensex today opened at 17,702 mirroring subdued global cues and slipped into the negative terrain within few minutes of trading. Selling in IT and auto shares dragged the markets further into red. The index touched a low of 17,566, down 177 points from the day"s high. The Sensex languished in the red for the rest of the trading session and finally ended at 17,616, down 85 points. The NSE Nifty ended at 5,263, down 19 points.
State-run gas utility GAIL India Ltd today declared a 20 per cent (Rs 2 per share) interim dividend for the current fiscal.
The Bill & Melinda Gates Foundation, created by the billionaire founder of Microsoft Corp, sold almost all its pharmaceutical holdings, including Wyeth, Merck & Co and Eli Lilly & Co, and bought shares of energy companies.
The state health and family welfare department is looking to forge partnerships with the healthcare institutions in the private sector.
Government today said it will not compromise on India"s interests at the Copenhagen climate change summit, but a dissatisfied opposition walked out in the Rajya Sabha.
A 26-year-old teacher became the first swine flu fatality in Bangalore, while an infant and an elderly woman died in Pune today, taking the nationwide toll to 20, even as Prime Minister Manmohan Singh said panic should not be created and the government is doing its best.
Anil Ambani’s Reliance Natural Resources Ltd (RNRL) has told the Supreme Court through an affidavit that the government has no scope to alter the utilisation of gas or the fixation of its price with regard to the former’s disputed contract with Reliance Industries Ltd (RIL).
Software companies continued to constitute the fastest growing firms in the Deloitte Technology Fast 50 India 2009 programme. This year, the composition of software companies amounted to as much as 80 per cent.
IT giant Wipro Limited, as part of its energy efficiency initiatives, is planning to reduce the carbon footprints from the present 3.96 tonne per employee to 2.5 tonne in the next five to seven years, said Laxman K Badiga, chief information officer of the company.
Acer, the world"s third-largest PC vendor, today said it will launch nine models of handheld mobile devices in the country, making its foray into the increasingly competitive smartphone sector in India.
Indian bourses rose to one-month highs as Reliance Industries leaped on its mega merger plan. The Bombay Stock Exchange (BSE) Sensitive Index today opened at 17,067.14 tracking positive global vibes.
Nasscom, the apex body representing the Indian Information Technology (IT) industry, today proposed that it would like to work closely with the government “to drive an inclusive (which benefits all sections of society) economic growth agenda”.
M J Antony / New Delhi June 3, 2009, 0:51 IST
Hiring activity is finally picking up steam among Indian companies. The job index, Naukri JobSpeak, increased by 4.1 per cent in September, compared with August. In terms of the three-month moving average, the index inched up from 715 in August to 719 in September this year, making it one of the best months since April-May when the job index was as low as 664.
Hyderabad-based Indian School of Business (ISB) has launched two new initiatives in an effort to encourage entrepreneurship among students. ISB’s Wadhwani Centre for Entrepreneurship Development (WCED) has launched the Entrepreneurs Development Initiative (EDI) and Planning an Entrepreneurial Venture (PaEV) to incubate and promote entrepreneurial ventures by students.
India"s top two law officers have advised NTPC to move Supreme Court at once to secure gas at a contracted price from Reliance Industries (RIL), a position in variance with Oil Ministry"s plea on the Ambani borthers" gas dispute.
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is planning to invest the money to support its customer coal requirements in India and to meet its captive requirement for the upcoming project Rs 4,300 crore power at Tuticorin.
Andhra Pradesh government today said it had no objection to Congress MP L Rajagopal, who escaped from the Government Hospital here, being admitted to the Nizam"s Institute of Medical Sciences (NIMS) in Hyderabad as desired by him.
Mafatlal Industries, a flagship company of Arvind Mafatlal Group, is planning to increase production of school uniform and corporate uniform by reducing capacity of non-profitable product ranges like industrial fabrics, sheeting’s, government supply products etc.
Despite the economic slowdown, India’s Fast Moving Consumer Goods (FMCG) sector has grown consistently during the past three to four years, reaching a size of $25 billion (Rs 120,000 crore) at retail sales in 2008. The industry is poised to grow 10-12 per cent yearly for the next 10 years to reach $43 billion (Rs 206,000 crore) by 2013 and $74 billion (Rs 355,000 crore) by 2018.
Chennai-based fast moving consumer goods firm Cavin Kare Private Limited has planned to double its exports this year by reaching out to new overseas markets like the US and Australia, a top company official said.
Jindal India Limited"s 1200 MW thermal power plant proposed to come up at Kaniha near here at an investment of Rs 6,000 crore has faced yet another roadblock.
Hundreds of villagers belonging to Nuagaon panchayat in the proposed site of the Posco steel project near Paradip, today staged demonstration and mass dharna in front of the company’s office at Kujanga demanding compensation for destruction of betel vines.
Protracted problems in land acquisition, availability of raw-material, supply of power and water are among others causing inordinate delay in implementation of various projects in the state.
Chairman of Godrej Industries Adi Godrej today said the company would dilute stake in case it finds a good acquisition opportunity.
Godrej Consumer Products is in discussions with Sara Lee Corp to acquire 100 per cent stake in Godrej Sara Lee, a joint venture (JV) between Godrej group and the US-based firm, a top company official has said.
Renu Modi celebrates twenty years of life as a gallerist with an ambitious show, a glimpse of what lies ahead, and a wish to return to the hearth.
There might be political uproar over the meager revision of MSP of wheat (Rs 20 per quintal hike), but the farmers in Punjab are firm on expanding the area under wheat cultivation. The state agriculture department is hopeful that this year also the total area under wheat would surpass the designated target of 35.20 lakh hectares.
Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”
L&T Infotech, the infomation technology arm of Larsen and Toubro, the engineering and construction major, is sharpening focus on its consulting business. The company set up a separate consulting business unit this March and already has close to 20 clients, representing 2 per cent of the overall revenue.
S Kalyanasundaram, former managing director of GlaxoSmithKline Pharmaceuticals, will join Sun Pharmaceutical Industries, the country’s largest drug manufacturer in terms of market capitalisation, as one of its top three executives.
The process is expected to begin next summer.
For those, who are just struggling to find the right software for technical analysis, here’s some help
India would, by the second-half of September, launch Oceansat-2 into the space, Indian Space Research Organisation (ISRO) Chairman G Madhavan Nair said.
India"s maiden moon probe Chandrayaan-I has developed a malfunction that puts some experiments in jeopardy and raises questions on completion of the mission that was intended to last two years.
The industry of the North East is euphoric with Bangladesh government agreeing to grant access to Mongla and Chittagong ports for movement of goods to and from India.
Oil and Natural Gas Corporation (ONGC), India"s largest oil and gas producer, will see crude output fall short by 1 million tonnes of the targeted 25.76 million tonnes this fiscal.
DB Realty today said it plans to raise as much as Rs 1,500 crore through an initial public offer (IPO) and will sell each share at a minimum of Rs 468 and a maximum of Rs 486.
The stock market was volatile and moved in a narrow range during the week. Global cues were mostly subdued, and news flows were largely positive, resulting in limited downsides on weak days. However, the indices failed to give a clear breakout on the upside as well.
State-run Oil India Ltd today reported a 23.5 per cent jump in net profit for the third quarter ended December 31, 2009, on the back of higher price-realisation for the crude oil it produces.
Idea Cellular today said that its consolidated net profit dropped 22.5 per cent to Rs 170 crore during the quarter ended December 31, 2009, as against Rs 219 crore in the third quarter of the last financial year.
FMCG major Marico Ltd today said its net profit increased by 22.2 per cent to Rs 62.19 crore for the third quarter ended December 31, 2009.
Indian IT major HCL Technologies today said the cost-cutting phase necessitated by the global economic downturn is over and it will work with its global customers to help redesign their business.
With five more entities folding up, the total number of American bank failures has touched nine in 2010.
Ii can give high profits, but the sugar industry is volatile and influenced by many factors
Business Standard / New Delhi December 31, 2009, 0:44 IST
Trust Kishore Biyani, the founder of Future Group, to spot new revenue streams before anybody else. The latest from Biyani is Indian-style hotels and schools to train entrepreneurs and help understand consumer behaviour. Both initiatives are expected to go on stream in the next six to eight months.
Extended trading hours starting today did nothing to boost the volumes on the bourses that opened nearly an hour earlier at 0900 hrs, as part of conscious efforts to align trade timing with the Asian markets.
After Reid & Taylor, S Kumars Nationwide wants to try its luck in all segments.
The year 2009 ended on a high note, with benchmark (BSE & NSE) indices registering best yearly gains in the last two decades and touching fresh 19-month peaks. The year, however, will be most remembered for the Sensex and the Nifty hitting the upper circuit for the first time.
Bangalore-based public sector lender, Canara Bank, is aiming to double its home loan portfolio to around Rs 17,500 crore by December 2010. The bank’s home loan portfolio stands at Rs 8,464 crore, little over 5 per cent of the total advances, as of December 2009, the bank’s executive director K L Jagadish Pai said.
Hyundai Motor"s net profit nearly quadrupled in the fourth quarter on higher sales following a strong performance during 2009 in the fast-growing Chinese and Indian auto markets.
With budgetary preparations on in full swing, the Reserve Bank of India (RBI) today advised the Finance Minister to at least partially rollback the stimulus that was provided to help the industry cope with the financial crisis.
Hedge funds: Hedge funds have many reasons to thank President Barack Obama. His proposed curbs on proprietary trading should push assets from banks’ balance sheets into the hedge fund industry. They should reduce competition for trading ideas, translating into bigger profits for the funds. And they should make it easier for hedge fund managers to pick off star traders. But proponents of reform should be careful: moving risk about doesn’t make it disappear.
The demand for a separate Vidarbha state out of Maharashtra is gaining momentum, as the supporters of the region have called a Vidarbha bandh on January 20.
A concoction of politics and sport leaves a bitter aftertaste.
Rejecting Pakistan"s charge that its players were snubbed for IPL at the behest of India, External Affairs Minister S M Krishna today said it should draw a line between government programmes and private events.
Birla Sun Life Insurance, which belongs to the Aditya Birla Group, has roped in four cricketers — Yuvraj Singh, Virender Sehwag, Suresh Raina and Rohit Sharma — to endorse its wealth and protection solution plans.
Sun Pharma, backed by minority shareholders of Israel’s Taro Pharmaceuticals, has succeeded in preventing Taro’s founder family led by Barrie Levitt from appointing independent directors of their choice to the Taro Board.
The Prime Minister"s IT advisor Sam Pitroda today said the government is not planning to merge BSNL and MTNL, but efforts are on to sell stake in BSNL.
What you need to flaunt this season are touchscreen phones that are smart and sassy.
Commercial vehicle manufacturer Ashok Leyland today showcased a bus with wireless connectivity --iBUS2 -- useful for disaster management, mobile education and medical emergency response targeted at the government and the defence sectors.
A peak into gizmos you can safely invest in and carry over to the next year without feeling the itch to upgrade.
Mobile phone major Nokia today indicated that multi-sim mobile handsets were on the anvil for the Indian consumers with expansion in demand.
US markets slumped on Thursday.
US markets edged up on Monday. The Dow added 30 points to 10,501. The Nasdaq gained 22 points (1%) at 2,212.
Far from the chaos of the city, Abhilasha Ojha finds a spacious farmhouse transformed into an exotic sea of green
I am a first time buyer of a four wheeler. I don’t change my vehicles often and plan on using my next acquisition for the next 12 to 15 years. I have shortlisted the Chevrolet Spark LT, Hyundai Santro Xing GLS, and Maruti Suzuki Zen Estilo LXI.
In my mind
The Department of Telecom (DoT) has sought legal opinion from the Law Ministry on the schedule and guidelines for auction of 3G spectrum.
The Asian markets continue to trade weak.
The Asian markets ended on a mixed note. The Hang Seng advanced 218 points or 1% to 21,678. The Nikkei declined 91 points or 1% to 10,764.
Eveready Industries India has recorded a profit after tax of Rs 11.03 crore in the third quarter ended December 31, 2009, an increase of 31 per cent over the same period last year on the back of higher sales. Net sales for the quarter stood at Rs 245.96 crore, an increase of 15 per cent. Prices of zinc, a key input material, was higher during the quarter compared to the same period last year, but was compensated by the appreciating rupee during the quarter. Battery and flashlights turnover registered a growth of seven per cent and 24 per cent during the current quarter. An overseas company, Everspark Hong Kong Private Limited has been incorporated by the company for commercial benefits on the company’s sourcing of input materials and goods from China.
Cadila Healthcare ended at Rs 695, higher by Rs 46 or 7%, on the BSE.
Things went from bad to worse since December 2008 for people who purchased bungalows, villas and apartments at Maytas Hill County, promoted by Maytas Properties Limited (MPL) -- the company run by B Rama Raju (Jr), the younger son of Satyam Computer Services founder and former chairman B Ramalinga Raju.
Education and placement company Edserv Softsystems today said it has bagged an order worth Rs 100 crore from the government for providing training to unemployed and under-employed youth across India.
The 224-million-tonne cement industry is yet again set to strike a growth of 10 per cent in June. If the initial numbers from the top cement makers are anything to go by, industry analysts said, the continuous robust growth will be maintained.
Abu Dhabi could well be the major draw in Asia for its focus on promoting art and culture.
Renewable Energy Minister Farooq Abdullah will join policy makers, industry experts, who will be attending the third World Future Energy Summit to be held in Abu Dhabi next January.
Raghavendra Kamath / Mumbai September 29, 2009, 0:19 IST
India"s largest manufacturer of passenger cars, Maruti Suzuki launched Eeco, a multipurpose vehicle here.
Posco India has sought more time from the Centre for implementing Rs 54,000 crore SEZ project at Jagatsinghpur in Orissa, as the South Korean steel giant could not get land due to protests by tribals.
Madan Sabnavis / New Delhi December 27, 2009, 0:17 IST
The country’s largest car maker, Maruti Suzuki India, has said it will hold the world premiere of a concept multi-purpose vehicle (MPV), designed exclusively by Indian engineers, at the Auto Expo starting here from January 5.
South Korean car maker Hyundai will invest around Rs 800 crore to develop a small car for the Indian market that is likely to be launched in the next two years.
Shree Ashtavinayak ended at Rs 84, lower by Rs 1 or 1.3%, on the BSE.
IPO guidelines next month; derivatives products on cards.
The stock dropped to a low of Rs 89 and has finally ended with a loss of 2% at Rs 90. The counter clocked a volume of 15.6 lakh shares, as against the two-week daily average trade of 6.9 lakh shares on the BSE.
‘The country loses crops worth Rs 1,40,000 crore annually to pests & diseases’
President Barack Obama will today propose new limits on the size of US banks after spending billions of tax-payer dollars to bail out "to-big-to-fail" firms, a senior official said.
After swelling to a nine-month high in the previous fortnight, the outstanding credit of Indian banks decreased by Rs 11,898 crore in the 15 days up to January 15 — its first fall in two and half months.
A 20-member delegation from Karnataka today met Union mome minister P Chidambaram and demanded special incentives for its five districts.
LIC Housing Finance has posted a rise of 14.32 per cent in its net profit after tax at Rs 153.57 crore for the quarter ended December, 2009 compared with Rs 134.33 crore in the corresponding previous quarter. Its net sales during the period stood at Rs 833.61 crore against Rs 734.33 crore last year, up 13.52 per cent.
GMR Hyderabad International Airport Limited (GHIAL) and the Geneva-based Airports Council International (ACI) today signed an agreement for appointment of GMR Aviation Academy as a global training hub for the Asia-Pacific region.
The Sensex finally ended (provisional) with a gain of 48 points at 17,147. The Nifty was up 17 points at 5,129.
The Securities and Exchange Board of India (SEBI) is reported to have appealed a decision by the Securities Appellate Tribunal (SAT) that over-ruled the Bombay Stock Exchange’s (BSE) refusal to issue an in-principle listing approval to a listed company.
Anil Ambani’s Reliance Power today started power generation at its Rs 6,000-crore Rosa Power Project in Shahjahanpur district of Uttar Pradesh.
Eminent economist Jagdish Bhagwati today said India had made a mistake in aligning with China at the recent climate conference in Copenhagen. Instead, the country should have taken a leadership role in climate talks by coming forth with fresh ideas.
The Securities Appellate Tribunal (SAT) has set aside charges of insider trading against Dilip Pendse, former managing director of Tata Finance, and his wife Anuradha Pendse and Nalini Properties.
Market regulator the Securities and Exchange Board of India (Sebi) today confirmed its earlier order barring proprietors and directors of 75 companies from trading in stock markets for allegedly helping Pyramid Saimira Theatre Promoter Nirmal Kotecha carry out suspicious banking transactions.
Foreign institutional investors (FIIs) were net buyers of Rs 259.17 crore (provisional) today, according to data released by BSE.
Money transfer firm Western Union Financial Services plans to tie up with e-governance service providers and microfinance institutions to expand its reach in India.
Gujarat NRE Coke ended at Rs 81, stronger by Rs 2 or 2.6%, on the BSE.
Foreign institutional investors (FIIs) were net sellers of Rs 361.67 crore (provisional) today, according to data released by BSE.
The country"s largest two-wheeler maker Hero Honda today reported a huge 78.34 per cent jump in its third quarter net profit at Rs 535.77 crore on the back of a quarterly sales volume of over a million units, and said it may go in for a new facility soon.
The Vedanta group firm Hindustan Zinc today posted a three-fold jump in its Q3 profit to Rs 1,148.65 crore as against Rs 369 crore in the corresponding period a year ago, driven by improved output, sales and prices realisation.
Private sector lender Yes Bank today said that its net profit rose by 19 per cent to Rs 125.9 crore during the quarter-ended December as against Rs 105.8 crore a year ago.
That Petroleum Minister Murli Deora comes from the country’s commercial capital was made obvious today when reporters asked him about whether there was going to be a petroleum price hike. “Arre baba, I’m not running a private limited company”, he told reporters, “there has to be a larger consultative process.”
Civil and core infrastructure development company Tantia Constructions is looking at diluting 10 per cent of its total equity to raise money for upcoming projects, according to market sources. The company is considering fund raising through secondary market transactions, though the exact quantum of cash to be realised through the stake offloading could not be ascertained.
Leading auto parts maker Bharat Forge today said its board has approved raising $150 million through equity-cum-debt issue for expansion into non-automotive areas like power and oil and gas.
Ford India will hike the prices of all its models across the board from January 1, 2010. The upward price revision is due to a steady rise in input costs and exchange rate fluctuations. Ford India is a wholly owned subsidiary of Ford Motor Company.
Arvind Subramanian / New Delhi December 23, 2009, 0:13 IST
Toyota Kirloskar Motors Limited (TKML) is looking to make further inroads into the Indian market as it puts its strategy into overdrive. With the launch of the Prius and its small car in 2010, it is looking to add another volume product to its portfolio,
In a sprawling factory south of Shanghai, Li Shufu, the self-made Chinese billionaire who is poised to buy Volvo Car Corp from Ford Motor Co, is presiding over a new-model launch party. If he has any concerns that his Geely Automobile Holdings Ltd’s rising sales and surging stock price could falter, he’s not showing them on that summer day.
German automobile giant Volkswagen, which has picked up almost 20 per cent stake in Japanese car major Suzuki Motor Corporation, may source small cars from Maruti Suzuki (in which Suzuki has 54 per cent stake) for the European market and sell them under its own brand name.
The country"s largest carmaker Maruti Suzuki India (MSI) today said its flagship export model, A-Star, has crossed 1 lakh-mark of overseas shipments in less than a year of selling the car in the global markets.
Ford Motor Co narrowed talks on the sale of its Volvo Car unit to one bidder, a consortium led by China’s Zhejiang Geely Holding Group Co.
The combined turnover of 23 commodity exchanges in the country surged by 47.47 per cent to Rs 5,174,274 crore till December 15 this fiscal, commodity market regulator FMC said today.
The foreign institutional investors (FIIs) were net buyers of Rs 14.90 crore in futures and options segments on Monday.
High-profile Samajwadi Party spokesperson Amar Singh today resigned as its General Secretary and other posts following deepening differences with party chief Mulayam Singh Yadav, saying his priority now was his health, wife and children.
The Sensex is now at 16,262, down 27 points. The NSE Nifty is at 4,853, down two points. Meanwhile the European markets have opened on a positive note. FTSE is up 37 points.
Foreign institutional investors (FIIs) were net buyers of Rs 3,041.56 crore (provisional) today, according to data released by BSE.
Overseas borrowings by India Inc fell by nearly half to $1.08 billion in August against $2 billion during the previous month.
Exports of spices fell 1.3 per cent in volume and 1.6 per cent in value during the April-October period of the current financial year.
Indian food delicacies with flavour and taste of spices are becoming a big hit in China, Spices Board sources said here.
The government today said that it would act as a patriarch and bless public sector bank mergers that are based on synergy.
Highway projects worth about Rs 110,000 crore will be executed in the country over the next three years, Minister of State for Road Transport and Highways R P N Singh informed the Rajya Sabha today.
Jamal Mecklai / New Delhi January 22, 2010, 0:05 IST
The government today said three firms of Anil Ambani group - Reliance Infrastructure, Reliance Natural Resources and Reliance Communication -- have violated overseas debt norms.
HDFC Bank’s board today decided to give a three-year extension to Managing Director Aditya Puri. His term was to end in March. Puri has been with the bank since its inception. HDFC Bank said the appointment was subject to shareholder and regulatory approvals.
Job seekers can get their resume ready as India Inc"s hiring outlook improves considerably with over 70 per cent recruiters predicting new job additions in 2010, a survey says.
Tractor and utility vehicle (UV) manufacturer, Mahindra & Mahindra (M&M), today posted a net profit of Rs 413 crore for the quarter ended December 31, 2009. This was an increase of 849 per cent, aided by the low profit base of Rs 43 crore in the same quarter of the previous financial year.
The ripple effects of the fall of Lehman Brothers in September last year is evident in the field of global mergers and acquisitions (M&A), which shrank by nearly 40 per cent in the 12-month period since then.
Merger and acquisition (M&A) activities gained traction globally in the fourth quarter of 2009, witnessing a rise in value by 46 per cent to $739.6 billion.
US Defense Secretary Robert Gates today said there has been a remarkable advancement of defence relationship between India and the United States in the last few years.
The spat between Google and China is unlikely to have any impact on Islamabad"s ties with Beijing, the Obama Administration has said.
There is unanimity in thinking among the intelligentsia that if India is to become an economic power, growth has to be inclusive and touch the lives of millions of people living in rural India. It is heartening to note that the Government is conscious of the fact and has taken unique steps to which will go a long way in alleviating the sufferings of poor people.
With virtually no rain in Himachal Pradesh for the past four months, farmers are deeply worried over the drought-like conditions in the hill state.
Finance Minister Pranab Mukherjee’s core team for the Budget will witness a crucial change on February 1. With the government announcing the appointment of Sunil Mitra as revenue secretary, the West Bengal cadre official will now move to North Block from the Department of Disinvestment, where he spearheaded the recent divestment drive of public sector companies.
Karnataka Chief Minister B S Yeddyurappa, who is facing fresh bout of dissidence from his party legislators demanding ouster of recently inducted minister M P Renukacharya, today held talks with a four-member dissident group to defuse the crisis.
US President Barack Obama today announced that the Federal government would reduce its greenhouse gas pollution by 28 per cent by 2020.
United Breweries Holdings (UBL) has forged an alliance with Heineken to distribute the Heineken brand in India. The partnership in India is expected to drive growth in one of the world"s fastest growing beer markets. As part of the agreement, Heineken will acquire Asia Pacific Breweries (APB) India -- Asia Pacific Breweries (Aurangabad) and Asia Pacific Breweries-Pearl -- for Euro 25 million (Rs 174 crore). Following completion of this transaction in the first quarter of 2010, Heineken intends to transfer these businesses into UBL during 2010. APB is a joint venture partnership between Heineken and Fraser and Neave.
Software company HCL Technologies today said it has received a contract worth around Rs 231 crore from UK-based defence equipment maker Meggitt for providing engineering services.
Kiran and Shiv Nadar will throw open their collection of art this evening at the HCL Technologies campus in Noida. Kishore Singh gets a preview before the formal opening of this private art museum, the first of its kind
Stung by the Centre’s indication to compensate half of what was promised as full compensation against phasing out of Central Sales Tax (CST), the Madhya Pradesh government may increase the upper slab of value added tax to 15 per cent from the existing 12.5 per cent before goods and service tax (GST) comes into effect.
The country"s largest public sector lender, ICICI Bank, is raising up to Rs 1,200 crore by issue of bonds.
State-run power major National Thermal Power Corporation (NTPC) today said its follow-on public offer (FPO), through which the government plans to divest 5 per cent stake, would open on February 3.
The country"s largest power producer National Thermal Power Corporation"s (NTPC)
GTL Infrastructure, which today agreed to buy the tower business of Aircel, plans to have a footprint of 50,000 towers over the next three years, company"s Chairman Manoj Tirodkar said here today.
Bharti Airtel Chief Sunil Mittal today said the company has not initiated any tariff war with the launch of per-second billing and is merely responding to the market needs.
Tata Communications has reached an agreement to acquire BT Group"s Mosaic business, which offers on-demand digital media management platforms, that manage content and workflow from production to distribution across collaborative market ecosystems.
Tata Communications has signed an agreement with the Qatar-based Qtel for a new undersea cable network that will connect a number of regional operators in the Gulf region with the country.
Finance Minister Pranab Mukherjee has asked Communications Minister Andimuthu Raja to complete the auction of the third generation (3G) spectrum within the agreed deadline (February 15), so that the revenue from it can be reflected in the Union Budget for 2009-10. Mukherjee had earmarked Rs 30,000 crore as revenue from 3G auction, which has already been delayed by a year, in the Budget.
The government is unlikely to allow any merger or acquisitions among the third generation, or 3G, mobile service providers to ensure competition.
The auditor for Bharti Airtel has asked for more time from the department of telecommunications (DoT) to finalise the special report sought by the government on the company, as they have yet to fully get the needed information.
Telecom service provider Bharti Airtel today reported a low net profit growth of 2.3 per cent at Rs 2,209.80 crore for the quarter ending December 31, 2009, weighed down heavily by low tariff and severe competition.
India’s largest private telecom company, Bharti Airtel, wants to help international players deliver multimedia content to Indian players, while simultaneously helping local companies to deliver content to foreign ones. It has tied up with Limelight Networks to launch content delivery network (CDN) services in the country. Limelight is the second-largest CDN player globally in terms of revenues.
FXLabs Studios, a city-based developer of game products for PCs and video game consoles, has received the 24 FPS animation award for the best game design by Maya Academy of Advanced Cinematics (MAAC) for its game based on Bollywood movie ‘Ghajini’. MAAC is the academic wing of US-based 3D animation and visual effects house Maya Entertainment, a press release said on Wednesday.
State owned Bharat Sanchar Nigam Limited (BSNL) has achieved a subscriber base of over 20 lakh for its mobile services in the Orissa circle.
Growing competition and declining revenues in India have prompted state-run Mahanagar Telephone Nigam Ltd (MTNL) to revive plans to enter overseas markets.
Malaysia-based Scomi International is scouting for partners to tap the monorail market in India, which is estimated to be around $15 billion (Rs 72,000 crore) in the next five years.
Hit by international student attack crisis, Australia has experienced a huge decline by 46 per cent of Indians applying for student visas in the country last year, country"s Immigration Department has said.
Public sector lender Syndicate Bank today said its net profit declined by 42.27 per cent to Rs 205.72 crore for the third quarter ended December 31, 2009, over the same period last fiscal.
Auto component maker Sona Koyo Steering Systems today reported a profit after tax (PAT) of Rs 6.89 crore for the quarter ended December 31, 2009, on account of improved efficiencies and stable foreign exchange rates.