Business Opportunities
Abhineet Kumar & Sidhartha / Mumbai December 31, 2009, 0:26 IST
Markets have extended gains. The Sensex has touched a high of 17,531 and is now up 181 points at 17,524.
The 50-share Nifty also ended almost flat at 5,041.
The Sensex, after touching a low of 17,373 recovered to touch a high of 17,453. The index is now up 71 points at 17,431.
Over 100 global endowment funds intend to invest in this asset class
Fund-raising to the tune of Rs 8,500 crore underway.
Anil Ambani group firm Reliance Infratel is looking to raise about Rs 5,000 crore (close to $1 billion) through sale of shares, for which it is in talks with a number of private equity firms.
With states speeding up distribution reforms in the power sector, the requirement for Central funds has gone up by over a half in the next financial year.
The coal consumers drawing coal from the Basundhara coal block under the command area of Mahanadi Coalfields Limited (MCL) continue to grapple with the problem of inferior quality of coal supplied to them.
Swati Piramal, Director of Piramal Healthcare, was elected president of Assocham today.
State-owned Steel Authority of India (SAIL) today said its Chairman Sushil Kumar Roongta has been appointed a member of the Executive Committee of the World Steel Association, which comprises of CEO"s of top global steel companies.
The country’s largest steel maker, Steel Authority of India Ltd (SAIL) today reported 14 per cent growth in its sales at over 3 million tonnes during the second quarter ended September 2009, over the year-ago period. “The company achieved record Q2 sales of over 3 million tonnes, registering growth of 14 per cent over the corresponding period last year,” SAIL said in a statement.
State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh metric tonnes of non-coking steam (thermal) imported coal. The company has invited bids from coal suppliers for supply of coal on high seas sale basis.
The coal consumers drawing coal from the Basundhara coal block under the command area of Mahanadi Coalfields Limited (MCL) continue to grapple with the problem of inferior quality of coal supplied to them.
Three years before Kishore Biyani set up his first Pantaloon store on Kolkata’s high-street, Gariahat, in 1997, Ram Chandra Agarwal had set up a large garment store, Vishal Garments, at Kolkata’s Tiger Cinema, which was converted into a sprawling store.
Logistics and transport major VRL Logistics Ltd (VRL) is looking at exiting its 42.5 Mw wind power venture at Mundargi in Gadag district of Karnataka, because of delayed receivables from the sale of power as well as its high operational costs. The Hubli-based company had forayed into the wind energy business in 2007 by setting up the venture for Rs 250 crore.
The public sector copper producer Hindustan Copper (HCL) today said it will come out with a follow-on public offer (FPO) to raise Rs 1,700 crore by diluting 10 per cent stake for part-funding its expansion plans.
A K Bhattacharya / New Delhi January 5, 2010, 0:48 IST
Many players have talent matching Sachin’s, but perish early.
T N Ninan / New Delhi November 7, 2009, 1:34 IST
Kishore Biyani-led Future Group is planning entry into hotel business and may set up the first one in the next six months.
Shobhana Subramanian / Mumbai December 4, 2009, 0:53 IST
Facebook: Stock markets have wobbled of late, but has Facebook’s value really plunged by 35 per cent in just two months? For those unacquainted with Silicon Valley’s quirky financing that would be one conclusion to draw from the social networking website’s latest stock sale.
It’s rather peculiar,” said a friend recently, “that of late, almost every time that I have tried to buy a train ticket, even if it is a month in advance, I have found myself wait-listed…” She was desperately trying to send off Sushil, her trusted right-hand man to Kolkata for some urgent business, and was unable to get tickets on any train going eastwards. “The air tickets cost upwards of Rs 12,000 — I don’t know what to do!” said she. Just then, her courier service provider, who happened to overhear some of this conversation, said, “Why are you getting so hassled madam? Just send him to the railway station and meet this travel agent friend of mine … he’ll get him on today’s Rajdhani to Kolkata!” But how could he do that when the train was full, she asked bemusedly. “It’s the unofficial Tatkal service,” said he.
The Orissa High Court on Thursday ordered a CBI probe into the alleged Rs 25 lakh-crore derivative scam in the foreign exchange market of the country.
After bagging the Pune-Satara highway project last week, R-Infra, a unit of Anil Dhirubhai Ambani Group (ADAG) has now bagged the Rs 1,000 crore Kandla-Mundra Road Project from NHAI.
A high-powered group of state finance ministers today indicated that the proposed Goods and Services Tax (GST), which will consolidate indirect taxes, may not be introduced as scheduled from April 1, 2010.
The stock rose 5.5 per cent to close at an all-time high of Rs 827.60, on reports that the company might launch its qualified institutional placement (QIP) book this week.
India’s power sector continues to attract private equity (PE) players. According to industry sources, more than 51 per cent PE investments in India between January 2008 and November 2009 went into the power sector. The value of these 15 investments is estimated at $ 751.2 million (Rs 3,600 crore).
Opto Circuits gained over 2% to Rs 172. The stock touched a high of Rs 177 and a low of Rs 168 during the day. The counter saw trades of 194,633 shares as against its two-week average traded quantity of 470,711 shares.
BS Reporter / Bangalore August 11, 2009, 10:27 IST
The ITC Green Center that Hillary Clinton visited last month is an early adopter of sustainable construction.
The stock touched a high of Rs 177 and finally settled at Rs 175, up 6% from the previous close. The counter witnessed trades of 537,952 shares as compared to the two-week daily average traded volumes of 651,329 shares on the BSE.
BS Reporter / Bangalore August 11, 2009, 10:27 IST
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said.
America"s increasing unpopularity in Pakistan is an issues of concern for the United States, the Obama administration has said.
As many as nine transactions, including Pfizer"s takeover of Wyeth Corp and Merck & Co"s buying of Schering-Plough Corp, are under investigation by the US regulator Securities and Exchange Commission (SEC) for possible insider-trading violations, says a media report.
Drug firm Zydus Cadila today said it has acquired the remaining 30 per cent stake in its South Africa-based subsidiary Simayla for an undisclosed amount.
Tata Consultancy Services (TCS), an IT services, business solutions and outsourcing organisation, announced plans to form an innovative business alliance that will provide critical business services to Dow, a diversified chemical company, its subsidiaries and joint ventures.
Sectors with export focus account for a majority of downgrades.
US markets closed at 13-month highs after China reported growth in industrial production and a reputed homebuilder forecasted higher revenues.
Secretary of State Hillary Clinton will embark on a seven-nation African Safari next week as part of Obama Administration"s commitment to make Africa a priority in the US foreign policy.
When the year 2009 dawned, there was widespread apprehension on how the export sector would cope with the recession in the rich countries. Throughout the year, the government took various steps to help exporters and, as a result, the mood at the year-end is far more upbeat, although some sectors like textiles, leather and handicrafts still face uncertain prospects.
Resisting Japan"s push for signing Comprehensive Test Ban Treaty (CTBT), India today made it clear that the onus of taking the lead in this regard lies with the US and China which are yet to ratify the pact.
The Sensex is now flat at 16,880, down 13 points.
After an initial slide, the Sensex turned volatile on the back of mixed cues from the Asian markets. The index gained strength and touched a high of 16,910 - up 243 points from the day"s low of 16,667.
Oilmeal exports from India are falling due to higher prices and low quality compared to those from the US, Brazil and Argentina, which are offering better quality of soybean and rapeseed at lower prices. Exports are expected to come down by 15-20 lakh tonnes during 2009-10.
The Bombay Stock Exchange (BSE) will introduce a secured settlement platform for the Rs 1,500 crore Indian Corporate Debt Market (ICDM) next week.
Jet Airways surged further and zoomed to a high of Rs 412, up 25% from the day"s low. The scrip finally settled at Rs 398, up 9% from the previous close. The counter clcoked volumes of 1.28 million shares as compared to the two-week daily average traded volumes of 572,048 shares on the BSE.
Sunil Jain / New Delhi October 26, 2009, 0:22 IST
The Sensex after attempting recovery has once again slipped into the red. The index is now at 16,677, down 108 points. The NSE Nifty is at 4,947, down 42 points.
Netherlands-based LyondellBasell Industries (LBI) today said it has got creditor support for a reorganisation plan, under which around $18 billion debt will be converted into common equity.
Energy major Reliance Industries today said that Production Sharing Contracts (PSCs), like the one it had signed for KG-D6 fields with the government, should not be tampered with by anyone.
Ahmedabad-based Intas Pharmaceuticals Ltd (Intas) has entered into a strategic partnership with US biotechnology company Amarillo Biosciences, Inc (ABI), whereby Intas will sponsor clinical trials of ABI’s orally administered interferon-alpha lozenges for influenza, which could also be used in combating the H1N1 virus.
Anil Ambani’s radio business, Reliance Media World, which operates radio station BIG FM 92.7, will list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, December 4. This makes BIG FM 92.7 the second radio station to be listed on the stock exchanges.
Big Cinemas, a division of Reliance MediaWorks and a member of the Reliance ADA Group, said it has crossed the global milestone of 500 screens with the opening of its newest multiplex in Malaysia.
The markets have held on to their gains in the past one hour. The Sensex is quoting at 17,239, up 108 points, and the Nifty is at 5,122, up 32 points.
Along with Subir Gokarn’s appointment as the fourth deputy governor, the Reserve Bank of India (RBI) today reshuffled some of the key portfolios of its deputy governors and executive directors.
India Inc"s overseas shopping spree has dipped to a four-year low of $27.3 billion so far this year, but a possible acquisition of LyondellBasell by Reliance Industries (RIL) would be one of the largest ever by an Indian company, according to deal tracking firm Dealogic.
Fast-unto-death by Congress MP L Rajagopal and several other leaders, pressing for a unified Andhra Pradesh continued today even as Chiranjeevi-led Praja Rajyam Party (PRP) came under pressure from its MLAs to end its support for separate Telangana.
Australian Prime Minister Kevin Rudd today praised the very completion of the Copenhagen climate summit as progress, saying that the talks had hovered near collapse.
The Maharashtra government today said it has sought around Rs 1,170 crore Central relief aid for Phyan cyclone affected victims.
Finance Minister Pranab Mukherjee"s ambition to collect Rs 30,000 crore from the auction of third generation (3G) telecom licences this year is in jeopardy, with the department of telecommunications (DoT) saying it is being forced to curtail its auction plans from four slots to three.
Sun Pharma has got a shot in the arm in its ongoing takeover battle with Israeli drug firm Taro as investor firm Templeton has announced its intention to vote against the Taro board in upcoming annual general meeting later this month.
Second-largest shareholder Templeton seeks management change, to vote against directors.
The proposal to divest government"s stake in SAIL and NMDC is final and would be sent to the Union Cabinet next month for approval, Union Steel minister Vir Bhadra Singh said today.
The Great Eastern Energy Corporation (GEECL) is likely to be one of the bidders for the fourth round of Coal Bed Methane (CBM) block auction.
ONGC Videsh, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), may pick up a stake in the $1.95 billion gas pipeline that China is building for ferrying natural gas found off the Myanmar coast.
Israeli drug maker Taro Pharma has alleged that Sun Pharma is attempting to seize its control by waging a proxy war.
Bangalore-based public sector lender Vijaya Bank today said it is looking to a business growth of 22 per cent, to Rs 1,10,000 crore. This will comprise of Rs 64,000 crore under deposits and Rs 46,000 crore under advances for year-ending March 2010 compared to the last financial year.
Alleges the Indian drug maker misled shareholders.
Also considering selling some of its third-party products.
Sun Pharmaceutical Industries scrip rose Rs 32 or 2.3 per cent to close the day at Rs 1,429.20 on reports of US Food and Drug Administration’s (USFDA’s) nod for a generic drug.
Israeli drug firm Taro Pharmaceuticals has filed a law suit in a US district court against Mumbai-based Sun Pharmaceutical Industries alleging violation of non-disclosure agreement and misleading shareholders.
For the second time in last one year, the government is likely to inspect financial books of Uttam Galva Steels for alleged manipulation of share prices, funds diversions and some other related matters.
The stock soared to a high of Rs 429 and finally ended at Rs 421, up 5.5% from its previous close. The counter clocked volumes of 323,029 shares as compared to the two-week daily average traded volumes of 20,162 shares on the BSE. _________________________________________
The stock has ended at Rs 1,220, up 1% from its previous close. The counter witnessed trades of 108,641 shares as compared to the two-week daily average traded volumes of 59,413 shares on the BSE.
In spite of a major regulatory clampdown on its US subsidiary, Caraco, Mumbai-based Sun Pharmaceuticals is trying hard to keep its US market share intact. The company is relying on its own manufacturing facilities to deliver goods to the US market. All eight ANDAs (abbreviated new drug applications) for sales permission in the US filed during the first quarter of the current financial year (Q1FY2010) came from Sun’s facilities.
India’s second-largest information technology services provider, Infosys Technologies, has applied for a mere 405 visas till date for financial year 2009-10 — its lowest application count in recent years.
Sun Pharma touched a high of Rs 1,459 and finally ended at Rs 1,436, up 2% from the previous close. The counter clocked volumes of 234,664 shares on the NSE today.
The Madras High Court today directed Ahmedabad-based Zydus Cadila (Cadila Healthcare) not to sell its anti-depressant drug, Venz (venlafaxine), in the domestic market for the time being, based on a trademark complaint from Mumbai-based Sun Pharmaceutical industries.
Business Standard Hindi had, some days ago, organised a roundtable in Lucknow. The idea was to bring together bureaucrats, economists and industry for a discussion on industrial development in the state. From the word go, businessmen proved very difficult to get. Normally, they are more than happy to get a platform to interact with top bureaucrats. Here, on one excuse or the other, they all opted out.
That the market for jobs has improved is fairly well known by now. What is perhaps not so well known is that the improvement has been good enough for headhunters (they like to call themselves executive search firms) to get back in business. Some of them say business has rebounded to the pre-crash levels of 2008. Most of them are hiring at senior levels — people who can get business. Korn/Ferry has restored salary cuts for all partners. EMA Partners is in the process of opening an office in Hong Kong.
The Drug Controller General of India from next month will issue Certificates of Pharmaceutical Products (CoPP) and Certificates of Good Manufacturing Practice for medicinal products required for exports.
Shishir Prashant / Dehradun January 1, 2010, 0:23 IST
In a blow to the Securities and Exchange Board of India (Sebi), the Securities Appellate Tribunal (SAT) has set aside the former’s ruling in the case of Tata Tea, wherein Sebi had asked the company to pay non-compete fees to all shareholders of Mount Everest Mineral Water.
The Bombay Stock Exchange"s (BSE) newly launched IPO Index, that tracks the value of companies for the first two years after listing on the bourse, rose by 5 per cent during the first week of its introduction.
US markets jumped on Monday as more-than-two-year high home sales was reported.
Business Standard / New Delhi November 24, 2009, 0:08 IST
Department of Telecom (DoT) proposes to levy Rs 135.6 crore penalty from telecom operators for missing network roll-out obligations. Tata Teleservices faces penalty of Rs 37.6 crore, Aircel Rs 28.85 crore, Bharti Airtel Rs 31 crore and RCom Rs 19.45 crore, among others.
Infosys BPO Ltd, the business process outsourcing (BPO) operation of Infosys Technologies, is looking at raising its headcount in the Americas through inorganic growth. The company is understood to be scouting for a strategic acquisition in the $40-60 million range either in Canada or the US, according to industry sources.
Wants to expand within the country and outside, while Star Aviation, yet to begin operations, has three aircraft ready
The September 2009 quarter results of leading IT players suggest that the global telecom industry is not out of the woods. Indicatively, Infosys and TCS‘ telecom segments’ share in overall revenues posted a decline of 60-70 bps sequentially — even on an absolute basis, their telecom-vertical revenues were lower sequentially. Given the muted outlook for the telecom sector, the topline and operating performance of Tech Mahindra, which derives 60 per cent from Europe and about 50 per cent from its major client, British Telecom (BT), is reasonably good.
Hinduja group"s flagship company Ashok Leyland today unveiled the country"s first electric plug-in CNG hybrid bus, HYBUS, at the Auto Expo here.
Oil prices rose above $72 a barrel today in Asia as investors looked to a slew of US corporate earnings reports this week for signs of economic recovery.
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.
The Reserve Bank of India (RBI) is not in favour of a multiple benchmark prime lending rate (BPLR) mechanism as proposed by bankers.
Ahmedabad-based Prudent Corporate Advisory and Brokering Services is targetting 100,000 Systematic Investment Plans (SIPs) by March 2011.
Latha Jishnu / New Delhi December 24, 2009, 0:55 IST
IL&FS Transportation Networks (ITNL) today said it would raise Rs 700 crore though an initial public offer (IPO) in Januray for repayment of loan and supporting its growth plans.
GlobalLogic, a software product development services provider, today said it is likely to list the firm on the bourses in the next 18 months.
Of the top-10 most valued firms, six lost a combined sum of over Rs 68,000 crore from their market capitalisation last week, while the rest including the country"s most valued firm Reliance Industries (RIL) and oil major ONGC saw rise in their valuation.
As many as six among the top 10 firms added over Rs 28,415 crore to their market capitalisation in the past week, while companies like NTPC, NMDC and IT bellwether Infosys Technologies saw their valuations dipping.
Intense debate on non-vegetarianism continues with flexitarianism emerging as the new diet fad.
It will be the JMM chief’s third tenure as chief minister
Reliance Industries has threatened to stop oil and gas exploration if it is not granted the promised drilling moratorium to cover for the acute shortage of rigs.
Reliance Industries (RIL) has threatened to stop oil and gas exploration if it is not granted the promised drilling moratorium to cover for the acute shortage of rigs.
Reliance Industries (RIL) raised Rs 500 crore on Tuesday for working capital through short-term finance.
Many private equity companies are interested in acquiring the management of Bank of America Merrill Lynch"s Asian real-estate investment business, a media report said.
The Tamil Nadu Housing Board (TNHB) is planning to carry out projects worth Rs 1,459 crore in 2009-10. The state-run agency, which is promoting affordable housing and commercial properties, is also looking at developing some of its properties through public private partnership.
Last year saw some significant reforms in the education sector, ranging from scrapping of CBSE’s class X board exam to enacting of a law to make education a fundamental right of every child. This year however, say experts, the sector might see even more significant happenings. Business Standard lists some:
The Sensex has added 71 points to 17,536.
If the Lok Sabha and the Rajya Sabha can have their own dedicated television channels, why shouldn’t the Indian Railways have its own channel? A Railways Advisory Committee, packed with supporters of the Trinamool Congress, has recommended the Railways start its own television channel to both inform as well as educate the travelling public. Watch this space for news of Air India TV!
Air Deccan as an airline may have flown into sunset with Kingfisher buying it out two years ago, but the brand continues to fly the Indian skies as about 10 jets of the erstwhile carrier are yet to be repainted by the new owner.
Over eight years ago, engineering and construction major Larsen and Toubro (L&T) decided to join hands with the Shailesh J Mehta School of Management at the Indian Institute of Technology (IIT) Bombay. The purpose was designing a programme in project management to bridge the human resource (HR) gap in the industry.
Meghnad Desai admits in the preface that it is an ambitious book. Written by “someone who cannot claim to be a professional historian”, the book is the author’s own and “somewhat opinionated” account of how India became a nation. In the process, it outlines a new premise based on which Indians should “rediscover” the new India.
Enough has been written about last year’s collapse of insurance giant AIG after it had to make good all the insurance it sold against corporate bond defaults and the fact that the US government bailout happened to help Goldman Sachs, the firm that US Treasury Secretary Hank Paulson once ran. Much less, however, is known about the company’s origins (it was the first reverse MNC, with its headquarters in China), of how it had such tremendous clout it could even threaten governments with US sanctions, or of how in the second World War it allowed US intelligence agency officials to masquerade as journalists of one of the newspapers it owned and collect information against the Japanese.
The young ruled in the Indian cyberspace in 2009 with Rahul Gandhi emerging as the most popular politician and Bollywood star Katrina Kaif the most popular celebrity, according to a Google India survey.
Googlephone: The Googlephone is coming. Google is escalating its effort to upend the mobile market by introducing a phone it has designed and which is currently being tested on its pointy-headed employees. The search giant"s interest in selling it without operator subsidies means the device probably won"t be a huge hit. But the handset is an important showpiece for the company"s mobile operating system.
Bengaluru International Airport said passenger traffic would top 9.3 million in the calendar year 2009 with cargo handled during the 12 months estimated at 161,896 tonnes.
India’s long-criticised Akash anti-aircraft missile is now blazing towards success. Its counterparts in the DRDO’s Integrated Guided Missile Development Programme, the Prithvi and Agni ballistic missiles, were on target from the start; the anti-tank Nag missile will also enter service shortly; the Trishul short-range anti-aircraft missile was abandoned unceremoniously. Now, after years of rejection from the military, the Akash is being accepted as a world-class missile.
Trade unions have asked the government to shelve the proposal in the draft Direct Tax Code to tax all savings and provident fund schemes at the time of withdrawal, saying the move would hit the salaried class hard.
Mahindra Satyam today said it has received legal notices for claims totalling Rs 1,230.40 crore from as many as 37 companies, to whom it has replied terming these claims as "legally untenable".
Government today said the Delhi and Mumbai airports achieved service quality ratings of 4.24 and 4.05 respectively on a scale of five in third quarter of the current fiscal and were aiming at reaching 3.75 at the end of stage II of their development.
Three standalone GE healthcare subsidiaries will be integrated with Wipro GE Healthcare.
Infocrossing, a company acquired by IT firm Wipro, has entered into a multi-year agreement to provide infrastructure services to Cliffs Natural Resources Inc, an international mining and natural resources company.
Microsoft had set a target of having Windows 7 installed on over 100 PC models.
Wind turbines manufacturer Suzlon Energy today said it has bagged an order from conglomerate ITC for supplying 27 MW of wind power turbines to projects in Karnataka and Maharashtra for an undisclosed amount.
BHARTI AIRTEL
General Motors is planning to start the repayment of a $6.7 billion loan it received from the US government later this year, says a media report.
Financial services firm India Infoline today said it plans to begin mutual funds operations in the first quarter of the next fiscal, after securing final approval from capital market regulator Sebi.
It bid adieu over a week later than normal.
About 20 million mobile phones without International Mobile Equipment Identity (IMEI) will be non-functional from tomorrow as the government’s deadline to ban mobile handsets without the unique identification number came to an end today.
Investors today pulled down the stock market benchmark Sensex below 17,000 points-level, as they sold banking, oil and gas and state-run companies’ shares to make profits.
Technical problems and poor management continued on the second day of the computerised Common Admission Test (CAT) for admission to management institutes in the country.
The first administration of Common Admission Test (CAT), being conducted online for the first time for admission to IIMS today, has been successful, Director IIM-B Pankaj Chandra said.
Playground Sports Pvt Ltd is looking at diluting upto 25 per cent equity in the Internet sports start-up to a strategic investor to fund its expansion plans and launch operations in new areas.
The outgoing chairman of the Company Law Board (CLB) S Balasubramaniam on Wednesday said that lack of qualified manpower at independent quasi-judicial body could impede its functioning in the medium-term, especially considering the delay in the implementation of the proposed National Company Law Tribunal (NCLT).
But countries like Canada, Poland, Vietnam are honing their skills
Shivani Shinde / Mumbai October 16, 2009, 0:39 IST
Suddenly, search engines seem to be multiplying. Microsoft is set to unveil Kumo, its latest effort to crack Google’s dominance in search. Meanwhile, sites like Wolfram Alpha and Newssift are trying to find safe and profitable niches for searches that add specialist value. Sadly, Google’s supposed rivals have mostly done better at generating hype than meaningful results.
Google India Managing Director Shailesh Rao has been appointed as Chairman of industry body The Internet and Mobile Association of India (IAMAI).
Internet search major Yahoo! today appointed Arun Tadanki as the managing director of its India operations.
Global majors like Microsoft, Yahoo! and Google may have decided to trim their workforce worldwide to cope with the economic turmoil, but these entities do have openings in India.
Government today said it was carrying out research and development for using hydrogen as an alternative fuel for running transport and other power generation applications.
India and China are likely to treble the high net worth individuals" (HNI) population and add $4 trillion to its wealth by 2018, leading its growth in the Asia-Pacific region, a report says.
The government today admitted that there was "rampant" killing of tigers in the country and said the big cats have became locally extinct in Sariska and Panna Reserves mainly due to poaching.
Shahana Joshi / New Delhi November 11, 2009, 0:34 IST
To be tabled in Winter, Budget sessions of Parliament.
Tourists will now be able to revisit the country’s colonial past from Kolkata to Varanasi through the 1,280 km cruise on the river Ganga with West Bengal Tourism launching the service from tomorrow.
The World Trade Organization will remain in Geneva, Switzerland. That is what the voters of this city decided today in a special referendum.
The country’s third largest public sector lender, Bank of Baroda (BoB), today said it is open to overseas acquisition if a good opportunity comes across.
Fund flows into emerging markets touched $967 million in the second week of this month, the highest in 2009, as investors shifted their focus from US equity funds to these fast-growing markets, says a report.
Developing-nation stocks may rise 32 percent in the next 12 months as a faster-than-expected earnings recovery fuels a long-term bull market, Morgan Stanley said.
India may go beyond the purchase of 126 medium multi-role combat aircraft.
Elections to 57 seats in the 60-member Arunachal assembly began early this morning amidst tight security.
With the explosive growth in the mobile telephony, the government is understood to have begun the exercise to amend the numbering plan to migrate to 11-digit cellular number from the current 10-digit in order to accommodate more users.
Regional differences in Andhra Pradesh Congress burst out in the open today when late YSR"s son Jaganmohan Reddy joined TDP protesters in Lok Sabha only to face demands for disciplinary action from party MPs from Telangana.
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
National Bank for Agriculture and Rural Development (Nabard) has estimated a credit flow potential of Rs 31,254.74 crore for the priority sector in Karnataka, for 2010-11, an increase of 13.5 per cent over the present year.
National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 102 crore to Uttar Pradesh under the Rural Infrastructure Development Fund (RIDF).
As the April 2010 deadline for the goods and services tax (GST) inches closer, the empowered group of state finance ministers plans to meet Finance Minister Pranab Mukherjee on January 7 next year to brief him about the progress on preparing a roadmap for GST and sort out the issues.
After falling continuously for 13 months, the country’s merchandise exports registered a growth of 18 per cent in November, at $13.2 billion (Rs 61,800 crore) against $11.16 billion (Rs 52,250 crore) in the same month last year. However, cumulative growth since the beginning of the current financial year continues to show a decline.
Private carrier Kingfisher Airlines plans to raise up to 175 million dollars (about Rs 840 crore) before March next year through rights issue and global depository receipts (GDR).
The stock finally ended at Rs 135 after touching a high of Rs 136. The counter clocked volumes of 1.10 million shares on the BSE as compared to the the two-week daily average traded volumes of 1.17 million shares on the BSE.
The initial public offer of DB Corp, publishers of Hindi daily Dainik Bhaskar, has received an overwhelming response from investors and got subscribed 14.60 times on the final day of the issue today.
Private sector power producer JSW Energy has fixed the issue price of its public offer at Rs 100 per share, at the lower end of its price band.