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India Inc is likely to post 15-20 per cent growth in net profit in the third quarter, thanks to a low base year and a promising show from automobiles, capital goods, construction, metals, pharmaceuticals and sugar companies. The telecom sector, for the first time after several quarters of strong performance, is expected to show decline in net profit on the back of decline in revenue per phone.
On the back of steady growth in the economy, railway ministry officials indicate that Budgetary estimates outlined last year are likely to be met despite a shortfall in the earnings from passenger traffic and parcel services in the first three quarters of the current financial year (2009-10).
Reliance Capital, the financial services arm of the Reliance-Anil Dhirubhai Ambani (R-ADA) group, reported a 52 per cent fall in consolidated net profit at Rs 63 crore for the quarter ended December 31, 2009, against Rs 132 crore in the same quarter the previous financial year.
The Nifty closed marginally above the support level of 4,940 on short-covering at lower levels. The trading pattern in the Nifty futures and options suggests the index may fall below the 4,900 mark soon. The 5,000 call option added 2.24 million shares in open interest (OI), mostly through change of hands and sell-side trades, indicating strong resistance above the 5,000 level.
The government counsel are understood to have advised the Centre to explore out-of-court settlement in the Ambani brothers" gas dispute as it cannot afford to contradict its position in another matter involving power PSU NTPC.
Aided by strong growth in sales of unit-linked insurance plans (Ulips), new business premium income of life insurers went up by 75 per cent during December to Rs 12,201 crore against Rs 6,961 crore during the corresponding period last month.
The markets struck positive notes at the beginning of the year with the benchmark indices touching their fresh 22-month highs. The Sensex scaled a high of 17,790, but eventually ended with a marginal gain of 75 points at 17,540 this week. Mid- and small-caps outperformed the benchmark with significant gains of 3.4 per cent and 4 per cent, respectively.
Financial regulators including Reserve Bank, and Sebi will meet next month to decide on giving a formal status to HLCC — a co-ordinating body for the sector — to make it more effective.
When Reserve Bank of India Governor D Subbarao meets top bankers in the customary pre-policy meeting on October 12, he can draw comfort from the fact that a majority of the bankers think interest rates may not be hiked till the end of the financial year.
It was a classic case of the davids of the world outpacing the goliaths. While the Sensex touched a 22-month high of 17338 in the earlier part of the week, only to turn sideways, the broader indices were the outperformers of the week. The mid-cap sector appreciated by 3.4% and the BSE small-cap space gained 4%.
It will be the JMM chief’s third tenure as chief minister
Jharkhand Governor K Sankarananaryanan today invited Jharkhand Mukti Morcha (JMM) Chief Shibu Soren to form the new government in Jharkhand.
As is now well known, the Task Force appointed by the Thirteenth Finance Commission, Government of India, has issued a report on December 15, 2009 detailing the recommendations on various issues relating to the design and implementation of the proposed GST in India.
Shipping Corporation of India (SCI) today reported a decline of 53 per cent in its net profit at Rs 87 crore for the third quarter ended December 31, 2009.
Vanita Kohli-Khandekar / Mumbai December 18, 2009, 2:33 IST
Minister faces farmers’ ire
The economic recovery and a low base should help India Inc post robust profit growth for the December quarter.
Tata Group Chief Ratan Tata today termed the buyout of Jaguar and Land Rover (JLR) as a "terrific decision" and hoped to bring back glory for the luxury brands.
Tata Steel expects to resume construction work on its six million tonne per annum greenfield integrated steel plant at Kalinganagar in Orissa’s Jajpur district in the middle of August this year.
Tata Steel Global Mineral Holdings, a unit of Tata Steel, today said it has increased its stake in Australia-based Riverdale Mining Ltd to 19.38 per cent through market purchases.
Shobhana Subramanian / Mumbai May 22, 2009, 0:56 IST
This is the second volume of essays/columns by NK Singh, or NK as he is generally known. These essays span the period of summer 2007 to summer 2009. The first thing that strikes the reader about these columns is the extraordinary variety of topics, ranging from the management of global economic risks to issues of Parliamentary oversight to a blueprint for the revival of Nalanda University. To anyone who knows NK, such variety and range would come as no surprise. Indeed, I was mildly disappointed not to find an essay on the challenges of nurturing roses or one on the finer points of photography, both of which figure among NK’s manifold interests.
The Business & Enterprise Committee in the UK, appointed by the House of Commons to examine the expenditure, administration, and policy of the Department for Business, Enterprise & Regulatory Reform (BERR), has voiced its disappointment over the government’s delays in providing support to the cash-strapped Jaguar Land Rover (JLR), the Midlands-based car maker which is now a part of Tata Motors.
The government is understood to have approached industrialist Ratan Tata to head an advisory board of the ailing Air India.
The government today said there is a need to enhance investment in the agriculture sector to achieve 4 per cent growth during 11th Five Year Plan.
Uttarakhand is rejoicing on the arrival of Uttar Pradesh’s sugarcane farmers, who are coming to the hill state with the hope of getting a better price for their produce.
BHARTI AIRTEL
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.
DLF, the country’s largest real estate developer, posted a 30 per cent dip in its consolidated net profit for the quarter ended December 31, 2009, on account of losses arising from non-core businesses of the company as well as continuing stress in the business environment.
Telecom services provider Tata Teleservices Maharashtra (TTML) today announced a consolidated net loss of Rs 34.26 crore in the first quarter ended June 30, 2009.
Decrease in fuel prices in the Mumbai licence area pulled down Tata Power"s revenues in Q1 FY10 to Rs 2,015.62 crore as against Rs 2,026.13 crore.
The Mumbai-based Avon Corporation has posted first ever quarterly net profit at Rs 3.38 crore in the first quarter of the current fiscal on a turnover of Rs 25.79 crore.
Hinduja Group"s flagship company Ashok Leyland is revising its domestic commercial vehicle sales target to about five per cent this fiscal from an earlier estimation of flat or negative sales, on the back of reviving market demand.
As part of its special audit on selected companies, the Department of Telecommunications (DoT) has told Bharti Airtel to provide all required information to the auditor by December 14.
The Advertising Standards Council of India (ASCI) has pulled up 15 companies, including telecom ones, for running misleading ad campaigns during July to October this year.
Brewberrys Hospitality Pvt Ltd (BbH), which operates the Brewberrys chain of cafes in India, plans to increase its footprint by over 200 per cent in the coming months. The Vadodara-based cafe chain is banking on the franchisee model to gain further scale and depth in its operations, according to Reji Thomas of JenJon Retail & Services Private Limited, the master franchiser for Brewberrys.
The security machinery has been put on high alert in the national capital after inputs that suspected LeT operative David Headley might have conducted a recee for carrying out a terror strike.
Hyderabad-based drug maker Natco Pharma Limited will be releasing into the market over 1 million doses (10 million tablets) of Natflu, its medicine for treatment of swine flu, by the end of next month.
Media and entertainment firm UTV Software today said it plans to acquire the remaining 23.18 stake in its UK subsidiary UMP Plc in a move to consolidate its motion picture business and enhance shareholders value.
The Enforcement Directorate today conducted searches on the premises of realtor Emaar MGF in connection with the multi-crore illegal Hawala and investment case involving former Jharkhand Chief Minister Madhu Koda.
As many as five companies among the elite club of top-10 Sensex firms have witnessed an erosion of over Rs 24,000 crore from their market capitalisation previous week, while Reliance Industries (RIL) maintained the top position with a valuation of Rs 3.49 lakh crore.
The Securities and Exchange Board of India (Sebi) had a hearing today on the controversial issue of the role of the National Securities Depository Ltd (NSDL) in the IPO scam of 2005.
Early last week, the Mumbai revenue department issued show cause notices to Vodafone, proposing to tax offshore transaction, as a result of which Vodafone acquired a controlling interest in GSM licences from Hutch.
The company has ambitious plans for mobile telecom services in Africa. Will it succeed?
Media company Si Adhikari Brothers Television Network will issue 10.1 million warrants carrying an option to subscribe equivalent number of equity shares to promoters on a preferential basis to promoters and private bodies corporate to fund its expansion plans, the company said in a statement to the Bombay stock Exchange.
Villages in Andhra Pradesh will be supplied bottled "mineral water" rather than piped water from the coming Independence Day.
The company has ambitious plans for mobile telecom services in Africa. Will it succeed?
Private equity fund Pi Capital is often described as “the investment club of the wealthy”. Its CEO David Giampaolo has his eye firmly trained on India, he tells Archana Jahagirdar
If Anil Ambani’s Reliance Natural Resources Ltd (RNRL) is aggrieved at Mukesh Ambani’s Reliance Industries Ltd for not proceeding with the private agreement between the two brothers on gas supply from the latter’s fields, it should instead blame the Union government, said RIL’s senior counsel, Harish Salve, at the Supreme Court today.
Barista Coffee Company is looking at registering its maiden net profit next financial year. Currently the company is registering operating profit with a turnover of Rs 150 crore.
Google Inc’s YouTube, the most- visited video website, is in discussions with Hollywood studios to start an online movie rental service, according to two people with knowledge of the talks.
Facebook Inc plans to expand its staff by as much as 50 per cent this year as it benefits from a surplus of engineers amid the recession, Chief Executive Officer Mark Zuckerberg said.
A day after Irda recommended that insurance firms should make public disclosures, insurers said the move would increase transparency in the sector and allow customers to take informed decisions.
Private sector life insurer Aviva India today forged a strategic tie-up with DBS bank for distribution of its insurance products through the bank"s branches to affluent and high net worth (HNI) customers.
The government has shortlisted four candidates for the post of National Housing Bank (NHB) Chairman and Managing Director.
IDBI Bank, which has been mandated to raise Rs 13,000 crore syndicated loan for Reliance Power"s Krishnapatanam Ultra Mega Power Project (UMPP) has put the process on hold.
Caretel Infotech, a business process outsourcing (BPO) services provider from the Dalmia group, has bagged a two-year contract from state-owned Mahanagar Telephone Nigam Ltd (MTNL) to manage the latter’s call centre. The financial terms were not disclosed.
Prime Minister Manmohan Singh today said that 3G telephony spectrum would be auctioned soon, thus ending the uncertainty generated by reported differences between ministries of telecom and defence on vacation of airwaves.
The Securities and Exchange Board of India (Sebi) has asked asset management companies (AMCs) not to compel investors to get no-objection certificates (NoCs) from their existing distributors for shifting their investments.
Iran"s controversial presidential election was the top Twitter topic in 2009, the wildly popular microblogging service said today.
Watch the forthcoming Saffronart auction to decide which segment of the market is recovering fastest and at what value.
West Bengal"s flagship IT district started the week on a tumultuous note with political activists going on a rampage early on Monday in an effort to enforce the 12-hour shutdown called by the Bharatiya Janata Party (BJP). Elsewhere, party activists obstructed trains and set buses on fire, to protest against rising food prices, thereby partially affecting life in the city.
Anil Ambani-led Reliance Natural Resources (RNRL) today asserted in the Supreme Court that family MoU of 2005 was a "sacrosanct" document for resolving the gas row with Mukesh Ambani group Reliance Industries (RIL) and accused it of scuttling efforts to arrive at a bankable agreement for the supply of gas from KG Basin.
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.
In an all-cash deal, a consortium of India Power Corporation Ltd (IPCL) and Srei Infrastructure Finance Ltd has won the bid for a controlling stake of 57.17 per cent in DPSC Ltd (formerly Dishergarh Power Supply Company), which was previously held by public sector units Andrew Yule, Life Insurance Corp and United India Insurance.
Business Standard / New Delhi December 10, 2009, 0:42 IST
Corporate Affairs Minister Salman Khurshid today ruled out inspection of financial accounts of Reliance Communications (RCom), which is under attack for alleged understating revenues and evading licence fee payment, unless the DoT asks the Ministry to do so.
Fresh trouble appears to be brewing over non-vacation of spectrum by Defence Ministry, a move that could frustrate the Telecom Ministry"s scheduled auction of third generation (3G) radio frequency next month.
Vanita Kohli-Khandekar / New Delhi October 27, 2009, 0:52 IST
Though I have been an avid consumer of all sorts of media, I never seriously looked at them from a child’s perspective. Now, with a five- month baby who is fascinated by any screen or newspaper, I have started wondering about his media choices as he grows up. Currently all he thinks of is eating the newspaper or the screen. But eventually these will form the fodder for his mind, as all media does. So what is the appropriate age for him to watch TV? What should he watch? When can he watch films, what kind of films, what books should one allow him to read?
S Tel, a joint venture between the Chennai-based Siva group and Bahrain Telecom, today said it will launch mobile services from tomorrow with twin tariff plans of one paise a second and 50 paise per minute.
The government is likely to take a decision soon on granting the "Maharatna" status to a few central public sector enterprises, which may include PSU heavyweights like ONGC, SAIL, BSNL, NTPC and CIL.
Companies knocking on government doors for bailout funds may have been the norm in the West, but India Inc begged to differ from this rule by raising over Rs 1,50,000 crore of capital for expansion from investors across the world in 2009.
The US-brokered deal with India and three other emerging economies went down to the wire with a personal push by President Barack Obama, even as developing nations appeared to have staved off attempts to subject their voluntary mitigation actions to international review.
Weighed down by the slump in economic activity during the first half of the year, the value of private equity (PE) and mergers and acquisitions (M&As) deals dropped 48.96 per cent to $21.20 billion from $41.54 billion during 2008.
A proposal of Jet Airways to raise $400 million (about Rs 2,000 crore) from foreign investors may come up before the Union Cabinet when it meets here tomorrow, official sources said today.
In a bid to salvage the ambitious ethanol-blended petrol programme, state-run oil firms have agreed to pay 25 per cent higher price at Rs 27 a litre for ethanol they will buy from sugar mills for doping petrol.
The Indian markets have opened in the green on the back of positive global cues. The Sensex is quoting at 17,134, higher by 33 points and the Nifty is up 4 points at 5113.
Daiichi Sankyo, which has a majority stake in Ranbaxy Laboratories, today said it is going to launch some of Ranbaxy"s generic medicine in the Japanese market soon.
India"s largest retailer, Pantaloon Retail (India), today said it will raise Rs 500 crore by way of private placement of shares with qualified institutional buyers.
Japanese drug maker Daiichi Sankyo, which holds 64 per cent stake in Ranbaxy Laboratories, today reported a 45 per cent drop in net income for April-September this year.
Daiichi Sankyo-owned Ranbaxy Laboratories has won a decisive ruling from the District Court of New Jersey that its generic version of valganciclovir, prescribed for HIV/Aids patients and for organ transplantation-related infections, does not infringe the patent rights of Swiss drug maker Roche"s anti-infection drug, Valcyte.
Golden Tobacco today said its board will meet on December 1 for considering a proposal from Pramod Jain to acquire another 25 per cent stake in the Sanjay Dalmia-promoted company.
Bharati Shipyard (BSL) today said it would abide by the guidelines issued by the market watchdog Securities and Exchange Board of India (Sebi) on the Great Offshore open offer.
The government today said in the Lok Sabha that a special audit has observed that Reliance Communication and its other subsidiaries under reported revenues during 2006-07 and 2007-08.
Enthused by robust performance of the economy in the second half of 2009-10, Finance Minister Pranab Mukherjee today said fiscal deficit would not exceed the target of 6.8 per cent of the gross domestic product (GDP).
Two of the top corporate houses --headed by estranged industrialist brothers Mukesh and Anil Ambani --are set for a showdown in the Supreme Court, which will commence hearing on their gas supply dispute tomorrow.
India is not facing any shortage in onion supplies and prices of the key vegetable have now started easing, Minister of Commerce and Industry Anand Sharma said in the Lok Sabha today, replying to a member"s query.
The Lok Sabha today post facto put its seal on merger of the State Bank of Saurashtra (SBS) with State Bank of India (SBI) amid opposition from Left parties.
Government will support public sector banks to merge if they wanted, provided they fulfilled RBI and SEBI guidelines, Finance Minister Pranab Mukherjee said today.
Gammon Infrastructure Projects today said it has entered into an agreement with the Spain-based Dragados for acquiring the firm"s stake in Indira Container Terminal Pvt Ltd (ICTPL) in phases.
Reason: Few issues have enabled investors to make listing gains.
India does not plan to move the World Bank for getting aid for conservation of tigers in the country. “Personally, I was very keen that the World Bank should help us in providing funds, at least for ensuring livelihood for villagers living on the fringes of the tiger reserves, so that they do not try to return to their original habitat (reserves).
Work on checking oil spill from MV Black Rose, the sunken vessel, has taken off a day after the visit of the high-level expert team from the Centre.
TransCare Logistics India Private Ltd, part of the TransCare group of companies based in Germany, has forecast a traffic handling of 100 million tonne for Paradeep Port Trust (PPT) by 2016-17.
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.
In order to reduce costs, global oil major Shell will soon transfer additional office jobs from Houston and elsewhere to India and the Philippines.
Exclusive talks between Essar Oil and Royal Dutch Shell over the sale of three European refineries — Heide and Harburg in Germany and Stanlow in Britain — will continue for an unspecified period beyond today’s earlier deadline, Essar Oil said in an emailed statement.
Almost 50 per cent of all the 350 million-odd active users on the social networking site are members of regional networks.
Minister of State for Environment and Forests Jairam Ramesh said India will forward its domestic goals on climate change as its action plan under the Copenhagen Accord to the Conference of Parties (COP) of the UN Framework Convention on Climate Change (UNFCCC). Under the Accord, nations have to submit their action plans by January 31.
With markets moving up on the disinvestment buzz, Smart Portfolios too registered steady gains last week. It was after a while that all fund managers participated in the markets. While Phani Sekhar and Praveen Panjwani were seen re-building their portfolios, Amar Ambani and Ajay Parmar continued with their churning process.
New technology allows access to webpages without internet.
The Reserve Bank Deputy Governor Subir Gokarn today said exiting from the accommodative monetary policy has to be a gradual process and cannot be done at a single stroke.
Owing to the weak global economy, Royal Dutch Shell reported a sharp drop in third-quarter earnings and production on Thursday and said it would downsize by 5,000 jobs.
Essar Oil is in talks with Royal Dutch Shell to buy two of its refineries in Germany and one in the UK.
In order to reduce costs, global oil major Shell will soon transfer additional office jobs from Houston and elsewhere to India and the Philippines.
Jai Arjun Singh / New Delhi November 21, 2009, 0:27 IST
Ajai Shukla / New Delhi December 29, 2009, 0:19 IST
CPI-M today expressed serious concern over Indian investigating agencies not being allowed to interrogate LeT operative David Coleman Headley and sought to know what steps the government is taking into the matter.
The first elections to the Greater Municipal Corporation of Hyderabad, formed by merging 12 surrounding municipalities in April 2007, ended on a peaceful note and polled 42 per cent. Counting will be held on November 26.
Two senior Congress MLAs and former ministers J C Diwakar Reddy and D L Ravindra Reddy today resigned from their post in protest against the party’s decision to carve out a separate state of Telangana.
Home Minister P Chidambaram has said the process for forming the new state will be initiated.
The six largest lenders to the debt-ridden Dubai World have started discussions with the government-owned conglomerate prior to the firm"s creditors" meeting scheduled for December 21, says a media report.
The government today asked investigating agency Serious Fraud Investigation Office (SFIO) to initiate prosecution proceedings against persons involved in Satyam accounting fraud and partners of Price Waterhouse, the auditors of the IT company.
A second chargesheet in the multi-crore Satyam scam will be filed soon as the CBI team probing the case has returned from Mauritius with some bank details from the island nation.
The Reserve Bank of India (RBI) has pointed out serious lapses in the way banks sold derivative products in 2007 and 2008. This is part of RBI’s reply to a questionnaire sent by the Central Bureau of Investigation (CBI). The Orissa High Court had last year asked the CBI and the Enforcement Directorate to submit a report on the derivative losses incurred by the industry last year.
Even if they are a small part of your portfolio, these funds can help reap rich returns.
Was tipped as a probable to occupy the top seat in Infosys after Kris.
While pay-per-second tariff plans seem attractive, there’s a lot you need to know before switching over.
Sreelatha Menon / New Delhi September 20, 2009, 0:08 IST
Former chief minister YS Rajasekhara Reddy, who died in a helicopter crash two days ago, was laid to rest on Friday by the side of his parents at his private estate at Idupulapaya in Pudivendula, his hometown. The embalmed body, which was kept in a wooden coffin, was buried at 5.30 pm.
The department of disaster management, Andhra Pradesh, would include more mandals, which have not been covered under the drought notification. “We are taking further action to consider the requests based on the eligibility norms,” said state revenue, relief and rehabilitation minister Dharmana Prasada Rao.
A section of Air India (AI) employees, owing allegiance to the Air Corporation Employees Union (ACEU), has threatened to strike work from December 22 to protest the management’s proposed move to withdraw some facilities from January 1.
A section of Air India employees owing allegiance to ACEU has threatened to strike work from December 22 to protest the management"s proposed move to withdraw some facilities now available to them from January 1.
Wipro Technologies has accepted the West Bengal government’s offer of 45-50 acres at New Town in Rajarhat, but wants to pay less.
Dell Services, the new entrant into the information technology (IT) services segment (after its acquiring Perot Systems), is gearing its focus on the growing small and medium enterprises (SMEs) market.
The government today said the postal department is expected to have a deficit of Rs 5,632.46 crore in the current fiscal, which has increased substantially over the past few years following implementation of the Sixth Pay Commission recommendations.
Devangshu Datta / New Delhi October 24, 2009, 0:30 IST
State-run Bharat Sanchar Nigam (BSNL) will appoint a consultant to enhance shareholder value, its Chairman and Managing Director Kuldeep Goyal said today.
Union minister of state for Railways K H Muniyappa has asked the state to submit a list of its demands for development of railway network in the state to the Centre before January 15, 2010.
Tata Group Chairman Ratan Tata today said the stimulus packages provided to the economy to cushion the impact of the global economic downturn should not be withdrawn.
Government today ruled out setting up an ombudsman to redress complaints of poor mobile telephony services like call drops saying state-run BSNL/MTNL were taking effective steps to upgrade technology.
Disapproving the grant of parole to Jessica Lall murder convict Manu Sharma, Congress leader Sachin Pilot has said that he might not have recommended parole to the lifer had he been the chief minister of Delhi.
A consortium comprising BSNL and MTNL looks to acquire 50 per cent stake.
Public sector telcos BSNL and MTNL together have Rs 41,471 crore cash on hand as of September 2009, the government said today.
IT firm Sterlite Technologies today said its net profit jumped nearly nine-fold to Rs 54.67 crore for the second quarter ended September 30, 2009, over the same period last year.
Narayana Murthy, Rajeev Chandrasekhar role questioned in airport project
Indian Railways’ ambitious plan to install ‘green’ toilets in all its 9,000 trains by 2011-12 have got postponed once again, with the process of tendering for procurement of biotoilets being scrapped last week. A revised tender agreement is likely to be approved by the Railway Board shortly.
Aluminum consumption in Asia may continue to grow next year as stimulus measures in China, the world’s biggest metals consumer, and rest of the region lift demand for the metal, an executive at Novelis Korea said.
This refers to “Energy savings can wipe out shortages” (January 8). An integrated approach for energy savings is the need of the hour. Despite efforts by the various organisations like Bureau of Energy Efficiency (BEA) and Petroleum Conservation & Research Association, nothing substantial has been achieved.
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.
A man allegedly involved in illegal land acquisition for the controversial Vedic village resort near New Kolkata township was arrested along with five others from Bankura by a North 24 Parganas police team today.
Nine MLAs and an MP from Andhra Pradesh are among 21 protestors taken into preventive custody today when about 100 activists gathered at high-security North Block violating prohibitory orders, as a meeting on Telengana issue was being held in the Home Ministry.
In many cases foreign companies grant access to Indian companies for using their data base and other copyr-ighted material. The question for consideration is whether the amount received by the foreign company for permitting use of such copyrighted material constitutes consideration which could be treated as royalty under the provisions of the tax laws.
Punjab Chief Minister Parkash Singh Badal today urged Union Power Minister SushilKumar Shinde to advise the Nuclear Corporation of India to bear with the state government for the delay in the site selection process for a nuclear power project.
The global recession and the resultant demand slump has delayed Steel Authority of India"s (SAIL) ambitious Rs 70,000-crore expansion plan for the second time in as many months, as it would now be completed by 2012-13 only.
Asian markets are mixed today.
AE Rotor Holding B.V., a wholly-owned subsidiary of Suzlon Energy today announced that it plans to sell a 35 per cent stake in Hansen Transmissions.
The risk profile of an investor is difficult to gauge because it oscillates with market moods. When the market is on the rise, even the most risk-averse start buying stocks. A sharp correction leads to panic selling, even by risk-takers.
The Nifty has opened at 4,570, up 46 points. The Sensex meanwhile is up 96 points at 15,327, in opening trades.
Akash Prakash / New Delhi December 25, 2009, 0:38 IST
Government today said the major private domestic airlines owed over Rs 274 crore to the Airports Authority of India for availing its services.
The Airports Authority of India (AAI) raised Rs 380 crore till September this year through short loans for funding various development projects but the borrowings will not lead to increase in passenger fares, the Rajya Sabha was informed today.
The government today said inflation was driven by a surge in commodity prices and the monetary policy had only a limited role in managing the price rise.
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.
Quant funds should be used only for portfolio diversification, and are suited for high net worth investors.
Significant inflows into income plans and liquid funds boosted net assets of domestic mutual funds in July, according to data posted by Securities and Exchange Board of India (Sebi) on its website.
Dubai: Abu Dhabi"s $10 billion bailout of Dubai World will boost confidence and please Nakheel bondholders. But this volte-face won"t restore the credibility lost over recent weeks.
Semiconductor revenues in 2010 are expected to bounce back to the same levels as in 2008 at $255 billion, analyst firm Gartner said in its latest outlook.
Indian chief information officers (CIOs) appear to be more progressive as compared with their global counterparts and are looking to ‘make innovation real’ and ‘expand business impact’ for their respective organisations.
Worldwide semiconductor revenue is on track to total $212 billion in 2009, a 17.1 per cent decline from 2008 revenue of $255 billion, according to the latest outlook by Gartner Inc, a global research and advisory body.
The Indian pesticides industry is eagerly looking forward to August 15. Not for the usual celebration of the Independence Day, but for a different reason. It expects the monsoon to recover by this time. If not, its bottom line this year would be hit.
Accelerating mobile PC shipments will drive the worldwide PC market to grow again, according to Gartner Inc, an information technology research and advisory company ‘s preliminary fourth-quarter forecast. In 2010, PC shipments are projected to reach 336.6 million units, a 12.6 per cent increase over 2009.
Travel and tour company Cox & Kings (India) made an impressive debut on bourses today. The stock closed 30 per cent up at Rs 426.05 on the Bombay Stock Exchange (BSE) as against the initial public offer (IPO) price of Rs 330. On the National Stock Exchange (NSE), the stock closed at Rs 430.
DB Corp, the publisher of Dainik Bhaskar, which is planning to enter new markets, would tap the capital market next week to raise around Rs 450 crore through an initial public offer.
Charts out ambitious growth plan for the company over the next five-six years.