Management
Chennai-based software company Zylog Systems posted a 21 per cent dip in its net profit for the second quarter ended Septmeber 30, 2009 to Rs 20.91 crore as against Rs 26.48 crore in the same quarter last year.
Tata Power Company today said it will be able to supply electricity to an additional 30,000 consumers in the city by March next year.
The Indian economy will recover in the next financial year even as concerns over poor monsoon, drought and fall in exports loom large, a survey says.
Business Standard / New Delhi December 15, 2009, 0:24 IST
If the early signs are right, then Network 18’s letting go of 200 people may just be an aberration. Across the Rs 80,000 crore Indian media and entertainment industry, hiring is picking up.
A new sports bar in NCR is a nice hangout place but not meant for genuine fans
With a spurt in demand from overseas for Indian cuisines like saag, rajmah and kurhi pakora, Punjab government-owned Markfed aims to achieve Rs 10-12 crore export turnover from canned food this fiscal.
The launch of Nine Lives, William Dalrymple’s search for the sacred in modern India, was the kind of spectacle that gladdens even a publisher’s withered heart. The Char Bagh in Delhi was packed, and between Baul singers and a dancing Dalrymple (he joined in when the theyyam dancers took stage), we were much entertained.
Driven by improved liquidity and business confidence, mergers and acquisitions (M&A) as well as private equity (PE) activities in the country are showing signs of recovery and the deal space is likely to see an uptrend in the coming months, experts said.
The promoters of Aegon Religare Life Insurance today infused fresh capital of Rs 70 crore into the company taking the total base to Rs 465 crore.
Aditya Birla Private Equity Fund, which is looking to raise Rs 1,250 crore, has finalised some investments, including 0.5 per cent in the country’s oldest exchange, the Bombay Stock Exchange, said sources close to the development.
Real estate in Lutyen’s Delhi zone has the latest reason for rattle between the Congress and its biggest ally of the second UPA—the Trinamool Congress. According to top Trinamool sources, mercurial Mamata Banerjee is again angry with the Congress—even before the previous contentious issues could subside—over non-allocation of a preferred bunglow for her party office in the capital. Banerjee had zeroed in on bungalow number 14 on Bishamber Dass Marg as the ideal place to house her party office in Delhi.
Five-hour tense standoff in rural Bengal finally ends without violence.
The week-long political crisis that paralysed the BJP government in Karnataka blew over today following a compromise between the warring sides under which a coordination committee will be formed, a woman minister may be removed and the Speaker inducted into the Cabinet.
German engineering company Voith today said it has acquired the entire stake held by its joint venture partner, Larsen & Toubro (L&T), in Kolkata-based Voith Paper Technology for an undisclosed amount.
To raise Rs 80 crore for working capital requirements
The Ashok Leyland stock continues to trade at a fairly high multiple of 25 times estimated 2009-10 earnings and 15.5 times 2010-11 earnings. The Street is pencilling in a recovery in the commercial vehicles (CV) cycle but almost all of that appears to be in the price.
The Hinduja Group will invest up to Rs 350 crore in increasing capacity of its hospital in Mumbai by 350 beds in the next four years through expansion of existing facility and setting up of a new unit.
Maximum bids at Rs 95
British banking giant Barclays is curtailing international expansion plans under a crackdown imposed by its new head of retail banking, Anthony Jenkins, a media report says.
Output in 2009-10 to be 15-16 mt against projection of 30 mt.
Jet Airways plans to complete its first tranche of fund raising of around $150-200 million over the next 3-4 weeks, a senior company official said.
Singapore sovereign wealth fund GIC today signalled it would shift its focus to Asia after its portfolio shed more than 20 per cent following heavy losses on Western investments.
India Inc today saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10.
IBM today announced new and extended collaborations with six engineering and technology colleges across Maharashtra to provide a platform for development of software skills among students.
New tax rules on perks need some smart changes in what you claim.
A day after the path-breaking revelation by the international scientific community that India"s maiden mission to the moon, Chandrayaan-I has succeeded in tracking presence of water on the lunar surface, ISRO chairman G Madhavan Nair today said that the mission was 110 per cent success.
Ends ambiguities in Feb guidelines relaxing sectoral limits in FDI rules.
Japan has stockpiled enough Tamiflu and Relenza drugs to treat 50 million influenza-infected patients, the health ministry has said.
Drug maker Natco Pharma today said it has launched anti-swine flu drug Natflu.
Adani Power Maharashtra, which is setting up a 1,320 Mw thermal plant here has tied up for coal linkages with a central PSU, while it has been alloted blocks for captive coal mines by the Union government.
The government is reminding the Chief Justices of High Courts to initiate the process of filling up the vacancies of judges, Law Minister M Veerappa Moily said, pointing out that there are seven vacancies in the Supreme Court and 240 in High Courts.
The Delhi High Court today sought an explanation from the Centre as to why it was not appointing chairman of National Human Rights Commission, a post lying vacant since June.
Swiss pharmaceuticals company Novartis AG said today it has successfully produced a first batch of swine flu vaccine weeks ahead of expectations.
Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
DLF rallied nearly 3% to Rs 373. The scrip touched an intra-day high of Rs 376. Around 3.9 million shares changed hands at the counter as against its two-week average traded quantity of 3.8 million shares.
Cox & Kings (Australia), the wholly-owned subsidiary of Cox and Kings (India), a travel and tour company, has bought MyPlanet Australia and Bentours International through a share sale agreement from First Choice Holdings Australia. The acquisition is being done through an ‘earn-out mechanism’ and is not being paid for from funds raised for acquisition from the company’s recent initial public offering (IPO).
Markets extend losses in noon trades
Swiss pharmaceuticals company Novartis AG said today it has successfully produced a first batch of swine flu vaccine weeks ahead of expectations.
The Supreme Court today refused to give any relief to Swiss pharma firm Hoffman La Roche Ltd that had challenged a Delhi High Court order allowing Cipla to manufacture and sell a generic version of lung cancer drug "Erlotinib".
FMCG major Dabur is stepping up expansion in the skin care segment, on the back of its acquisition of Fem Care Pharma last year, with plans to expand range of products from the latter"s stable besides launching a new brand of its own.
Colours and clothing may waltz in and out of style, but the watch is an accessory that rarely sees an off season. Here are a few picks to flaunt this summer:
Within 45 days of assuming the office of the Minister of Information and Broadcasting (I&B), Ambika Soni is already in the thick of things. She has set the ball rolling on several key policy issues concerning her ministry. Bringing greater efficiency and transparency in the overall functioning of I&B ministry and Prasar Bharati are part of her mission. Soni speaks her mind on all key issues in a candid chat with ASHISH SINHA. Edited excerpts:
Shuchi Bansal / New Delhi July 03, 2009, 0:22 IST
Disappointment at the outcome of a United Nations-sponsored climate change conference in Copenhagen is "justified," US President Barack Obama said in a US television interview.
Environment Minister Jairam Ramesh neatly turned the tables on the BJP when it attacked the government using the comments made by David Axelrod, a key advisor of US President Barack Obama. Ramesh quipped, “Mr Axelrod is the Arun Jaitley of the Obama Administration.
Chennai-based entertainment company Pyramid Saimira Theatre Limited (PSTL) has moved the Securities Appellate Tribunal (SAT) against market regulator Securities and Exchange Board of India (Sebi)’s order, which had banned the company in November 2009 from trading in the Indian securities market for seven years following irregularities in its initial pubic offering (IPO).
US and emerging economies including India struck a face-saving deal to tackle global warming, but the pact ran into rough weather with several developing countries opposing it, saying it was legally non- binding and set no target for curbing carbon emissions.
As the US and BASIC countries struck a deal on climate change, President Barack Obama today lauded India for setting forth "very significant mitigation" efforts and for voluntarily saying that it will reduce carbon emissions relatively.
Swiss drug major Novartis has approached the Supreme Court against a decision of the country’s apex patent complaint redressal forum, the Intellectual Property Appellate Board (IPAB), to deny patent protection for its cancer medicine, Glivec. The court is expected to take up the case for hearing on August 31.
Despite the best efforts of Indian vaccine makers to develop the H1N1(swine flu) vaccine, Swiss drug major Novartis and Australian vaccine maker CSL may be the first ones to bag the orders from the central government for its supply.
The auditors for Indian pharma major Ranbaxy, now owned by Japan"s Daiichi Sankyo, have drawn attention of the company"s board towards remuneration paid to its former chief Malvinder Mohan Singh and current head Atul Sobti.
State"s contribution had tanked below 20% from 42% in last two years.
Investment banking major Goldman Sachs today reported huge profit of $3.44 billion for the second quarter ended June, bolstered by stellar performance in trading operations.
Investment banking major Goldman Sachs today reported huge profit of $3.44 billion for the second quarter ended June, bolstered by stellar performance in trading operations.
Suzlon Energy bagged a repeat order from Gujarat Alkalies & Chemicals (GACL) to set up, operate and maintain a 21 megawatt (Mw) wind energy project in Maliya Miyana in the Rajkot district, Gujarat. The project will comprise of 14 units of Suzlon"s S82-1.5 Mw wind turbines.
Jonathan Weil / June 14, 2009, 0:13 IST
The Orissa government has asked oil companies to open more LPG outlets by appointing agents in all the 314 blocks of the state, official sources said.
In its efforts to revive ailing public sector units under the steel ministry, the government today decided to hand over management control of three sick units to steel major Rashtriya Ispat Nigam (RINL).
The main reason for the move is the volatility in prices and inconsistent supplies for value-added grades
Pantaloon Retail has returned to a double-digit growth rate in same-store sales (SSS) in the lifestyle segment. The country’s largest retailer, which saw either a decline or a single-digit growth rate at best in SSS since November 2008, posted an increase of 11 per cent for the December quarter, aided by higher consumer spending in the category.
Real estate developer K Raheja Universal Private Ltd wants to scrap one of their notified special economic zones (SEZs) and also surrender a part of another zone, citing lack of demand from the information technology sector.
Kishore Biyani-promoted Pantaloon Retail today reported a jump of 51.07 per cent in its third quarter net profit at Rs 50.67 crore.
In the same way that you should get massages and take naps or meditate, you should, everyone should, make a point to eat out by yourself from time to time,” wrote Amanda Hesser in her wonderful Cooking for Mr Latte. “You should be kind enough to yourself to lavish your appetite with good food without the interruptions of company.”
A crucial UN climate summit opened here today amid calls for "early action" to combat the threat and with the hope that emission reductions promised by key countries had put the world closer to a global warming control pact.
Home minister says the January 5 meeting of political parties is to devise a roadmap on resolving the statehood issue.
In a fallout of the Ruchika molestation case, all complaints received at police stations are to be treated as FIRs, while a move is afoot for automatic revoking of police and gallantry medals awarded to convicted officers.
Even as the Telangana Sadhana Joint Action Committee (JAC) is all set to enforce a bandh tomorrow pressing for a separate statehood to Telangana, the students at Osmania University have ‘urged’ the people to boycott New Year celebrations in support of separate state.
A V Rajwade / New Delhi November 7, 2009, 0:40 IST
HC quashes use of emergency power for land buys; ADAG firm says it’s a procedural issue.
Vemagiri Power Generation Limited (VPGL), a subsidiary of Bangalore-based GMR Energy Limited, is planning to put up an additional capacity of 750 Mw in Vemagiri, adjacent to its existing natural gas-fired combined cycle power plant of 388.5 Mw.
General Motors Co will close Saturn, the brand created 24 years ago to emulate successful Japanese carmakers, after Penske Automotive Group Inc broke off discussions to buy the unit.
The small car being developed by Bajaj Auto that will be marketed by Renault-Nissan alliance in India will be smaller than Maruti Suzuki"s Alto, according to the French car maker.
Areva T&D India, the local arm of French power equipment maker Areva, today said it has bagged four contracts worth Rs 350 crore from power transmission utility Power Grid Corporation of India (PGCIL) for developing four substations in the country.
The Centre today warned the Vedanta group that it can be prosecuted if it resorts to “illegal mining” of bauxite at Niyamgiri in Orissa since it has been given only in-principle approval. “They have got environmental approval in-principle. They have not got full forest clearance. If mining is taking place in Niyamgiri, then it is illegal,” Environment and Forests Minister Jairam Ramesh said in the Rajya Sabha.Replying to a debate on the working of his ministry, he said the ‘in principle’ nod given to the group would not mean sanction for the mining operations.
Sterlite Industries, the Vedanta Group diversified base metals producer, has posted 42 per cent decline in net profit at Rs 924 crore in the first quarter of the current financial as compared to Rs 1,595 crore in the same quarter of the previous year. Net sales of the company also plunged by 21 per cent to Rs 4,537 crore from Rs 5,770 crore. Earnings per share (EPS) slipped, therefore, to Rs 9.49 from Rs 16.25 in the first quarter of the previous year.
With the country’s capacity to manufacture medicines at competitive prices and drugs worth $80 million going off-patents soon, there is a big opportunity for investment in the drug manufacturing sector, Health Minister Ghulam Nabi Azad said today.
Imagine walking into a washroom at one of the multiplexes and being welcomed with a message that terms you “the Fourth Idiot”. Don’t feel offended as you are just watching the promotion of 3Idiots, an Aamir Kan-starrer to be released this Friday.
Auto component maker Sona Koyo Steering Systems reported an unaudited profit after tax (PAT) of Rs 3.71 crore for the quarter ended September 30.
Wireless Planning and Coordination (WPC) wing, the highest policymaking wing of the Department of Telecommunications (DoT), has sought clarifications from the department on the licence fees that need to be paid by successful bidders of third generation (3G) auction for acquiring a unified access service licence (UASL).
The power situation is expected to see a dramatic change once the Kudagi thermal power plant goes operational. The foundation stone for the thermal plant near Basavana Bagewadi in Bijapur district will be laid in January next. The National Thermal Power Corporation has approved the proposal for setting up the coal-based 4,000 Mw plant at its meeting held in New Delhi on November 27.
Industry body Assocham today suggested to the government to set up a coal trading company to import the dry fuel to bridge the demand-supply gap.
The Sensex is now at 16,962, up 85 points. The Nifty is at 5055- up 22 points.
After hitting a 13-month high in October, external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) issued by Indian companies dipped slightly to $2.35 billion.
Ajit Ranade / January 26, 2010, 0:35 IST
I am planning to buy a car, which most probably will end up with my father. My budget is in the range of Rs 10-13 lakh. Which one would you suggest — the Honda Civic or the Toyota Corolla Altis? He normally prefers a petrol, but if you think the new Chevrolet Cruze is much better than the rest, then I can convince him for the diesel also. I am also looking at a used, last generation 2007 Audi A4 diesel. It is working out to be more expensive even in terms of finance. What will you suggest?
Trades between FIIs generated a volume of Rs 43 crore on the BSE Thursday-an decrease of 34.61% from Rs 66 crore clocked on Wednesday. As many as four stocks witnessed trades of 8.12 lakh shares on Thursday.
State-owned IDBI Bank is believed to have zeroed in on Kerala-based private sector lender Federal Bank for acquisition.
Flagging investor segment ensured that merger and acquisitions, and private equity (PE) activity paled in 2009 in comparison with 2008. PE deal value took a 65 per cent knock in 2009 with deal volumes barely crossing $4 billion as compared to $11.96 billion in 2008. Harish H V — partner, National Management at investment advisory Grant Thornton, shares his views to Ravi Menon on what lies ahead.
State-owned IDBI Bank is believed to have zeroed in on Kerala-based private sector lender Federal Bank for acquisition.
Financial services provider HSBC InvestDirect (India) today said its subsidiary IL&FS Investsmart Insurance Brokers Ltd will discontinue the insurance broking business.
In a surprise move, the government has postponed to the next fiscal auction of spectrum for 3G telephony which was expected to bring in Rs 35,000 crore to the exchequer.
Tata Communications today launched its data centre in Pune and said it plans to invest up to Rs 500 crore over the next three years.
Country’s largest mobile operator Bharti Airtel today said it was disappointed by 3G spectrum auction being postponed until next financial year, but would participate when it takes place.
Concerned over the continuous assaults on Indians in Australia, External Affairs Minister S M Krishna today spoke to his Australian counterpart asking him to expedite the investigations in these incidents.
R K Pachauri, the head of the UN panel of climate experts, have asked for concrete action at the grass-root level to save the environment and climate for future generations.
India"s eight ambitious missions to address climate change may get funds in the Union Budget that will be presented in Parliament next month.
The Intergovernmental Panel on Climate Change (IPCC) has admitted that a claim made in the 2007 report headed by R K Pachauri — that Himalayan glaciers could melt away by 2035 — was unfounded and unsubstantiated.
The Ministry of Shipping is nearly doubling the initial cost estimates of the controversial Sethusamudram Ship Channel Project, which aims to dredge a navigable channel through the Palk Strait between India and Sri Lanka.
Millions of people from Sydney to Sweden are set to switch off their lights on March 27, as part of the global "Earth Hour" campaign to highlight climate change, organisers said today.
Yash Raj Films (YRF) has formally announced its entry into the television space, by joining hands with Sony Entertainment Television (SET), a leading Hindi genereal entertainment channel. As part of the deal, YRF will produce exclusive fiction and non-fiction content for SET.
India needs to scale up its spending on Science and Technology from the current level of expenditure in this field which stands a one per cent of the GDP, said Prime Minister Manmohan Singh.
The government today said it does not intend to increase borrowing target for the current fiscal 2009-10, which has been pegged at Rs 4.51 lakh crore.
South Korean consumer durables major LG today said it plans to give a push to its LED TV sales by launching more advanced versions of it in 2010 and expects to sell up to 3 lakh units by the end of next year.
Tata group"s Tanishq retail chain of stores, launched a special festive contest for its customers in Gujarat today. The offer gives customers the opportunity to win diamond jewellery along with assured gifts on purchase worth Rs 15,000 or more from Tanishq.
The Ashok Leyland stock continues to trade at a fairly high multiple of 25 times estimated 2009-10 earnings and 15.5 times 2010-11 earnings. The Street is pencilling in a recovery in the commercial vehicles (CV) cycle but almost all of that appears to be in the price.
Customers now have many reasons to look beyond luxury sedans.
Continuing the record-setting spree, gold prices today climbed to Rs 18,399 per ten gram for April delivery amid weak US dollar.
Shivani Shinde / Mumbai September 24, 2009, 0:36 IST
Maruti Suzuki India Limited, the passenger car leader in the domestic market has posted 48 per cent growth in its sales in Orissa during the April-August period of 2009-10 compared to the same period of the previous fiscal.
The country"s largest car maker Maruti Suzuki India (MSI) has firmed up plans to roll out its small car Zen Estilo on August 25 which is equipped with the latest KB-series engines.
Ohio Governor Ted Strickland is quick to admit that he doesn’t “particularly enjoy heights”. So why would he climb into a cherry picker to be lifted 40 feet in the air?
The Ministry of Finance has assured the Planning Commission of at least 15 per cent increase in gross budgetary support (GBS) for 2010-11, over the 2009-10 budget estimates.
With seven of the 16 initial public offers (IPOs) launched this year trading below their issue prices, 2009 has been a mixed year for primary market investors.
Jindal Power, a subsidiary of Jindal Steel & Power (JSPL), has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for a public issue of equity shares through 100 per cent book building method.
Jindal Power, a subsidiary of Jindal Steel & Power (JSPL), has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for a public issue of equity shares through 100 per cent book building method.
A K Bhattacharya / New Delhi December 22, 2009, 0:02 IST
The Union government’s high-level committee on external commercial borrowings (ECBs) has decided to enhance the annual limit of credit on structured obligations to $1 billion from $600 million.
Banks consider raising rates for 3-5 year funds to correct asset-liability mismatch.
T E Narasimhan / December 11, 2009, 0:39 IST
Credit offtake was expected to pick up in the coming months on the back of policy steps taken by the Reserve Bank of India (RBI) to boost credit growth, Minister of State for Finance Namo Narain Meena said today.
I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete?
The commodity market regulator Forward Markets Commission (FMC) today said bourses can achieve the turnover target of Rs 80 lakh crore if resumption of forward trading in rice, urad, tur and sugar and launch of options and indices are allowed.
It will be for the third time that Jharkhand will have two deputy chief ministers in its nine-year long political history.
Anil Ambani-led Reliance Natural Resources (RNRL) today accused Reliance Industries (RIL) in the Supreme Court of unilaterally inserting provisions in the agreement for gas supply, saying it went against the family MoU of 2005 providing for fixed quantity of gas from the KG Basin for 17 years.
2009 was a bumper year for bullion investors as both gold and silver reached record highs in domestic and international markets.
Steel Authority of India Ltd (SAIL), the nation’s biggest state-run producer, said it was considering buying coking coal mines in Australia, Indonesia and Mozambique with an Indian government joint venture.
National carrier to get lion’s share of the Rs 1,978-crore budgetary support demanded by the ministry for 2010-11.
The company needs to raise funds as it continues to report a loss at the consolidated level.
The stock jumped 2.3 per cent to Rs 1,204.55 after the company said Phase-III clinical trial for its anti-diabetic molecule balaglitazone achieved the set parameters.
Pharma company Piramal Healthcare today said it is looking for acquisitions in the fields of patented drugs, contract research and research molecules and will raise Rs 1,000 crore for this purpose.
TCG group-promoted TCG Life Sciences, a contract research firm in the area of drug discovery, has signed an agreement with pharma giant Pfizer.
Healthcare major Zydus Cadila has bought the remaining 30 per cent stake in South Africa-based Simayla Pharmaceuticals for an undisclosed sum, making it a 100 per cent subsidiary of the group.
The market as expected drifted lower after giving a downward breakout. It may test further lows before bouncing back.
The markets have been virtually unchange din the past one hour. The Sensex is at 16,858, down 35 points, and the Nifty is placed at 5028, down 12 points.
The stock slipped to a low of Rs 478 and finally settled at Rs 483, down around 4% from the previous close. The counter clocked volumes of 3.17 million shares as compared to the two-week daily average traded volumes of 1.81 million shares on the BSE.
Foreign institutional investors (FIIs) were net sellers of Rs 548.77 crore (provisional) today, according to data released by BSE.
Admittedly, Nehru was there at the start of things, the end of an age, the awakening of a nation, that tryst with destiny. So he and others of his generation were better placed than we are to think laterally, to explore all of history for models towards which to incline the path of our future. He also spent years in prison, an enforced separation from the bustle and fire of the freedom movement which enabled him to look beyond the constrained present to the past and future, all in the service of his country. In other words, he used his time in prison to think big for India.
Australia today asked the Indian media to exercise restraint and "wait for the full facts" while reporting on alleged racism in this country, but feared the appeal would fall on "deaf ears".
The Supreme Court today issued a notice to Glaxo Smithkline Consumer Healthcare in a case relating to the advertising war between two popular health drink brands Horlicks and Complan in India.
Sensex ends up 35pts
Also considering selling some of its third-party products.
The top 10 companies saw their market capitalisation dipping by over Rs 40,000 crore last week with NMDC losing the most.
Country"s biggest GSM mobile company Bharti Airtel and South African MTN today apprised the Telecom Ministry of their proposed $23-billion deal that could create one of the top three wireless companies in the world.
US fund house TIAA-CREF has exited Oil and Natural Gas Corporation (ONGC) and other Chinese energy companies over their investments in war-torn Sudan, but the Indian company said its operations did not support suppressive activities anywhere in the world.
Even as the Telecom Regulatory Authority of India (Trai) has started investigating into the complaints of predatory pricing offered by some of the new operators, experts are divided over whether the current scenario actually resembles predatory pricing.
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.
IndiaFirst Life Insurance has received regulatory approval to launch three products and expects to commence its operations by the month-end, a senior official said.
The market turned weak on the cusp of settlement and made a partial recovery in the first session of the December settlement. The Nifty ended with a net week-on-week loss of 2.2 per cent, closing at 4,941.75 points while the Sensex was down 2.3 per cent at 16,632 points. The Defty lost 2.5 percent with the rupee losing ground.
IT firm Mahindra Satyam (formerly Satyam Computer) today appointed Deloitte as auditors, within days of CBI charging Price Waterhouse of complicity in the Rs 14,000-crore accounting scam.
Mahindra Satyam, the new brand identity of Satyam Computer Services, a leading global consulting and IT services provider, has selected Malaysia to kick off international expansion - enlarged its global solution center operations in 15 acre campus in Cyberjaya, the company said in a BSE filing.
Microsoft had set a target of having Windows 7 installed on over 100 PC models.