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Troubled insurance giant American International Group is in advance stages to list its Asian life insurance unit on the Hong Kong stock exchange next year, in a move to raise up to $20 billion, says a media report.
Markets have extended gains. The Sensex has touched a high of 17,531 and is now up 181 points at 17,524.
The Rajiv Gandhi Thermal Power Project (RGTPP) at Khedar in Hisar district of Haryana created history on Tuesday by breaking all previous records of project implementation, when its first 600 Mw unit was synchronised with the grid in a record period of 35 months, by Haryana Chief Minister Bhupinder Singh Hooda.
US markets ended flat on Tuesday. The Dow dropped two points to 10,545 while the Nasdaq slipped three points to 2,288.
The Indian car accessory market is estimated at Rs 1,200 crore.
The Coal India Limited"s (CIL"s) move of 11 per cent hike in the price of coal is likely to impose a heavy financial burden on some of the coal-based thermal power stations in the state, Gujarat State Electricity Company (GSECL), sources said.
State-run Coal India is eyeing strategic partnership with mining behemoths like BHP Billiton and Rio Tinto to mine coal abroad and has floated an Expression of Interest (EoI) for the same.
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.
State-run Coal India is eyeing strategic partnership with mining behemoths like BHP Billiton and Rio Tinto to mine coal abroad and has floated an Expression of Interest (EoI) for the same.
The Centre today asked South Korean steel maker Posco’s Indian arm to apply afresh for permission to set up a 12-million-tonne-per-annum (mtpa) plant in Orissa, held up for four years over land acquisition.
Future Group, the company that promotes India’s largest publicly-traded retailer, Pantaloon, is planning a joint venture company by bringing together Future Money, its consumer finance business; Future Generali, its insurance business; and Centrum Direct, the foreign exchange service provider. The JV, under a single management, will provide its service through the stores of Pantaloon Retail.
Mines minister B K Handique today said the government is considering divesting its stake in copper producer Hindustan Copper.
The government is not considering further disinvestment in aluminium major Nalco and Hindustan Copper even as operations of the copper producer are set to be revamped.
GM/Saab: Is General Motors about to pull an Opel on Saab? The sale of its Swedish subsidiary to Koenigsegg has fallen through, and directors are considering whether to keep it going. There may be some on the Detroit carmaker’s board who reckon GM should bring Saab back into its garage — just as the company did earlier this month with its main European operations. They should resist the temptation.
Google is adding World Bank figures to Internet results in a bid to make hard facts about countries worldwide easier to find.
Among professional Indian economists, C Rangarajan comes next only to Prime Minister Manmohan Singh in terms of the number of years spent in economic policy-making. His professional life, like that of the PM, began in academia. Both chose to be teachers and ended up in government. Both served as governors of the Reserve Bank of India (RBI). Both worked closely together during the crisis months of 1991-92. One went on to become prime minister, the other almost became union finance minister!
Retailers may be getting into 2010 with higher monthly sales, but they are not going to ease the cost-cutting measures implemented during the downturn anytime soon.
Bank of America Corp, UBS AG, JPMorgan Chase & Co and other banks were sued by a California public utility over claims they rigged sales of municipal derivatives and shared illegal profits through kickbacks.
The fall in steel prices in the wake of global economic meltdown has consigned many balance sheets of groups taking the metal in the red. The drop in demand in the final quarter of 2008 was so steep and steel product prices turned so uneconomic, particularly for high cost mills in western countries, that the industry in many regions was forced to switch off half the capacity.
Telecom service provider Aircel today said it will finalise a buyer for its 17,000 telecom towers across the country in the next six weeks.
Opto Circuits today said its wholly owned subsidiary, Criticare Systems Inc (CSI), has entered into a long term agreement with a European firm for supplying patient monitoring systems and anesthetic gas delivery products.
Bangalore-based maker of medical diagnostic equipment, Opto Circuits (India) Limited has raised Rs 400 crore from qualified institutional buyers (QIBs).
BS Reporter / Bangalore August 11, 2009, 10:27 IST
Bangalore-based medical diagnostics products maker, Opto Circuits (India) Ltd (OCI) has announced that its wholly-owned US-based
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.
In a landmark discovery, India’s maiden moon mission Chandrayaan-I has found evidence of water on the lunar surface, a finding that could trigger a serious hunt for life in outer space.
The company will supply the main active pharmaceutical ingredient for Valtrex.
Government may not get the targeted Rs 25,000 crore from the sale of radio waves needed for the third-generation telecom services
Fixed income funds saw the largest net inflows among all fund categories in October.
Shyamal Majumdar / Mumbai December 10, 2009, 0:14 IST
Reliance Industries" Executive Director and Crisil former Chairman, R Ravimohan passed away last night here due to cardiac arrest.
Continuing with its losing streak, the rupee today fell by 5 paise in opening trade to 46.93 against the US dollar largely on fears of capital outflows by foreign funds.
The markets extended the previous day"s losses, mirroring the weakness in the US and across Asia. The Sensex ended at 16,719, weaker by 174 points and the Nifty closed below the psychological mark of 5k at 4,987, lower by 54 points. Realty, energy and bank stocks were the major draggers.
Godrej Consumer Products Ltd, the manufacturer and supplier of consumer durables, posted 167 per cent rise in consolidated net profit at Rs 93 crore for the quarter ending September 30, 2009 as compared to Rs 34.73 crore in the corresponding period last year.
The Asian markets have advanced for the fourth day on reports that the Chinese factory output jumped to a 19-month high in October.
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 markets continue to languish in red. The Sensex is now at 16,835, down 60 points.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
The share of SGX Nifty has risen from 2% in March to 5.9%.
Domestic institutional investors (DIIs) were net sellers of Rs 171.16 crore (provisional) today, according to data released by BSE.
Markets can now be open 9 to 5, says regulator.
The Nifty closed above the resistance level of 4,350 on the first day of the new F&O series on short covering by foreign investors and long build-up in key stocks futures. If the Nifty could maintain support around this level, then we may see the index crossing the 4,500 levels during the coming week. Trading in the Nifty options suggests that the index can move above 4,400 with strong support at 4,300.
BS Reporter / Mumbai October 26, 2009, 8:14 IST
The Foreign Institutional Investors (FIIs) were net sellers of Rs 72.74 crore in futures and options segments on Friday.
Ahead of the meeting between the prime ministers of India and Japan, the two countries today signed two agreements for developing the Rs 3,60,000-crore Delhi-Mumbai Industrial Corridor (DMIC) project.
The Union budget for 2010-11 is likely to be presented on February 26, two days ahead of the conventional date.
Considering the weak US and Asian cues, our markets have opened on a quiter note. The Sensex is quoting at 16,714, down 71 points, and the Nifty is at 4962, down 26 points.
Concern over surge in capital inflows making dollar stronger led to the fall.
The Sensex finally ended (provisional) at 17,032, up 247 points. The NSE Nifty ended (provisional) at 5,060, up 71 points.
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.
Considering the weak US and Asian cues, our markets have opened on a quiter note. The Sensex is quoting at 16,714, down 71 points, and the Nifty is at 4962, down 26 points.
Though the Nifty closed slightly below 5,000 today, the trading volume in the put and call options suggests that bulls will find it difficult to hold on to this level.
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.
Gemini Communication Ltd, a Chennai-based wireless networking and Wimax solutions company, has lined up Rs 150-180 crore for acquisitions and to expand its footprint overseas over the next three years.
After having opened marginally in the red, the markets have rebounded in line with their Asian counterparts. Asia is largely trading in the green after the Federal Reserve raised the US growth forecasts for 2010. The US markets also ended off their lows, albeit marginally weak, after the Fed raised the GDP forecast.
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.
Country’s biggest steel producer, Tata Steel, reported a consolidated quarterly net loss owing to lower demand and weak performance of its European unit Corus.
Punjab National Bank will bring all the rural branches under Core Banking Solution (CBS) platform by the end of this financial year.
The need is to identify free land areas, says steel secretary.
Tatas-owned European steel major Corus has appointed Karl-Ulrich Kohler as the new Chief Operating Officer with effect from February 1, 2010.
The National Informatics Centre has raised concerns over privacy and security of proposed database of Unique Identification Authority of India(UIDAI), headed by Infosys founder Nandan Nilekani.
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.
The much-awaited 3G spectrum auction will be delayed beyond the scheduled date of January 14 due to uncertainty over the available spectrum and the number of slots to be put up for bidding.
The government has written to telecom operators, Bharti Airtel, Idea Cellular, Vodafone and Tata Teleservices, asking them to be punctual in sharing information with special auditors looking into revenue leakage.
Government will support public sector banks to merge if they wanted, provided they fulfilled RBI and SEBI guidelines, Finance Minister Pranab Mukherjee said today.
Second-largest shareholder Templeton seeks management change, to vote against directors.
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.
Israeli drug maker Taro Pharma has alleged that Sun Pharma is attempting to seize its control by waging a proxy war.
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.
DLF finally ended at Rs 365, down 4% from its previous close. The counter witnessed trades of 4.98 million shares as compared to the two-week daily average traded volumes of 2.46 million shares on the BSE.
Sun Pharma ended at its intra-day high of Rs 1542, stronger by Rs 38 or 2.5% on the BSE.
Aurobindo Pharma Limited, a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), has received tentative approval for donepezil hydrochloride tablets in 5mg and 10mg strengths from the US Food and Drug Administration (US FDA). The product has a market size of over $1.9 billion.
Suven Life Sciences Limited, a Hyderabad-based biopharmaceutical company specialising in central nervous system (CNS) diseases, has received patents for two new chemical entities (NCEs) from the US Patent office.
The annual Brand Derby, the results of which were published last week in The Strategist, threw up some interesting results. First, right on top amongst the 2008 brand launches were two all-Indian entries — the Indian Premier League and Nano. Second, of the 26 brands rated by the 90 respondents, 13 came from Indian-owned companies — three cars, two direct-to-home services, two films, two apparel brands, two FMCG products, one general entertainment channel and IPL. And third, seven homespun brands made it to the ranks of the 16 most successful brand launches. The lessons to be drawn are: One, Indian marketers, if they want, can build strong brands. IPL and the Nano have gained recognition the world over. Amongst the six FMCG brands in the Derby, the one that was ranked on top was Mother Dairy’s Nutrafit probiotic milk drink. Two, companies across categories have come to realise the importance of a brand in a cluttered market.
Bharti Airtel today announced offering both local and STD calls at a flat rate of 50 paisa per minute to its 110 million subscribers.
Oil rebounded in Asian trade today, lifted by strong regional stocks, which rallied after US aluminium giant Alcoa said it swung to profit in the third quarter.
Oil rebounded in Asian trade today, lifted by strong regional stocks, which rallied after US aluminium giant Alcoa said it swung to profit in the third quarter.
Latha Jishnu / New Delhi December 24, 2009, 0:55 IST
Education and placement company EdServ Softsystems today said it plans to raise $25 million through Global Depository Receipts or Foreign Currency Convertible Bonds to fund its expansion in the school and online tuition services markets.
IRB Infrastructure Developers is all set to raise further funds to the tune of Rs 1,200 crore through various instruments.
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.
Did not figure in last year’s rankings as it did not do any QIP or IPO.
Pushes oil and gas to second and IT to third place.
Expects to earn Rs 3,000 crore each year from new venture.
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.
The government today deferred the implementation of the ground handling policy at airports by a year, allowing private airlines to continue their ground handling services, along with airport operators, Air India and other air carriers, inside the airport terminal during that period.
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.
Latha Jishnu / New Delhi December 24, 2009, 0:55 IST
The Nifty futures moved in a narrow band and closed higher at 5,239 on poor volumes in both cash and derivates segments. The trading volume in Nifty January futures declined to 11.86 million shares from around 42 million shares on the first day of the December series. It is difficult to predict the market movement in the near future due to extremely poor volumes. However, the intra-day trading pattern in Nifty futures and options suggested that traders booked profits while bears built short positions at higher levels.
The Sensex has ended (provisional) at 17,562 - up 97 points.
State-run Oil and Natural Gas Corporation has lost an oilfield in Algeria to a consortium led by a Chinese oil firm.
State-run GAIL India will buy gas from Oil and Natural Gas Corp"s (ONGC) new field to come on production in Mumbai offshore from next month at $5.5 per million British thermal unit (mmBtu).
Eight out of top-10 firms managed to add over Rs 22,000 crore to their market capitalisation (m-cap) in the holiday-truncated past week, with NTPC contributing a major chunk to the kitty.
Pitching for continuance of the stimulus packages, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the concessions given to the industry to combat global financial meltdown need to remain till the economy achieves 7 per cent growth rate.
The Department of Telecom (DoT) is understood to have decided to slap a total penalty of Rs 132 crore on some major telecom operators for not rolling out services on time after the award of licence and spectrum.
Compiling a bunch of unforgettables from Indian cinema is bound to create room for argument. Suveen Sinha finds plenty to disagree with M K Raghavendra’s 50 Indian Film Classics
Subir Roy / New Delhi January 6, 2010, 0:11 IST
Katrina Kaif, Sania Mirza and Rahul Gandhi were the most searched celebrities on Google India in 2009, presumably implying that more and more young users are coming online and ruling the cyber space.
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.
The Indian Air Force (IAF) today said it had sought permission from the government to fire at Maoists if they attacked helicopters.
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.
Business Processing Outsourcing (BPO) centres in India would be subjected to taxation under the new proposed Direct Tax Code (DTC) but some clarifications, especially on double taxation, were still needed, an expert said.
Mahindra Satyam announced today that it has joined the Symbian Foundation, which, together with its ecosystem, is creating an open and complete mobile software platform.
Air India has convened a meeting of foreign pilots" recruitment agencies on Wednesday to discuss its proposal to slash wages by 10 per cent, in its bid to reduce costs and the differences between the pay packets of Indian and foreign pilots.
The Reserve Bank of India (RBI) on Friday said it would ask banks to furnish details of their direct and indirect exposure to Dubai World, the beleaguered Dubai government-owned holding company which asked for more time to repay its debt.
From upgraded portable ECG machines to digital X-ray units, the research lab does them all.
On January 7, Ramalinga Raju confessed to his monumental fraud. He had, Raju said in a letter to the stock exchanges, cooked Satyam’s books for seven long years — revenue, profit, bank balance et al. Raju was soon arrested and put in the Chanchalguda prison. The Union government swung into action. A board was appointed to manage the affairs of the company. In a matter of months, Satyam was sold to Tech Mahindra.
The Sensex is now trading at 17,002, weaker by 48 points and the Nifty is at 5,053, lower by 9 points.
Mahindra Satyam, the rebranded Satyam Computer Services, on Thursday announced the appointment of Vijayanand Vadrevu as the senior vice president – strategic initiatives.
Larsen & Toubro (L&T), one of the failed suitors for scam-hit Satyam Computer, today sold 2.32 per cent stake in the IT company (now Mahindra Satyam) for over Rs 306 crore, exactly a month after the lock-in perid on sale of its holding ended.
Moving away from the shadow of Satyam scam, software exporter Mahindra Satyam today said the company would be repositioned as a complete Information and Communications Technology (ICT) firm from just an IT outsourcing player.
Seema Sindhu / October 31, 2009, 1:17 IST
FMCG major Godrej Consumer Products today said the Bombay High Court has given its approval for the merger of the company"s two group firms — Godrej ConsumerBiz and Godrej Hygiene Care — with itself.
Procter & Gamble, the maker of Pampers diapers and Pantene shampoo, is in talks to buy part of Sara Lee Corp’s international household products unit, according to people familiar with the discussions.
FMCG major Dabur has alleged that US-based firm Aveda, which manufactures and sells Ayurvedic cosmetic products, is infringing on the trademark of its skincare range.
A K Purwar, former chairman of the State Bank of India has been appointed as the chairman of India Infoline Investment Services, the NBFC arm and a material subsidiary of India Infoline.
With strong pricing power in cigarettes segment, revival in hotel prospects as tourism picks up and a healthy other business growth estimates ITC is in a sweet spot right now.
The scrip ended at its 5% upper circuit at Rs 27. The counter clcoked volumes of 23,716 shares as compared to the two-week daily average traded volumes of 248,229 shares as compared to the two-week daily average traded volumes of 248,229 shares on the BSE.
Consequent to the sharp run up in markets in 2009, investors will have to be careful in picking stocks while lowering their return expectations
The director of Indian Institute of Management, Ahmedabad (IIM-A) is constantly in touch with his counterparts in other IIMs to solve problems regarding the first computer-based CAT (Common Admission Test), institute officials said here today.
The Indian Institutes of Management (IIMs) have finally broken their silence. Three days after the computer-based Common Admission Test (CAT) came under fire for its technical glitches, the IIMs and Prometric and NIIT, the companies have revealed that 10-11 per cent of students have been affected so far. Citing a virus "Conflicker" being responsible for glitches in the computer-based test at some centres, they said necessary steps are being taken to repair the damage.
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).
HCL Technolgies, part of the Rs 24,000 crore HCL Group, today announced that it is entering into an outsourcing services engagement deal with MTV networks (MTVN). MTV or Music Television is owned by US-based Viacom.
Kirtika Suneja / New Delhi November 11, 2009, 0:29 IST
In a week marked by high volatility, markets corrected sharply only to bounce back with greater strength. Last week, it was mentioned that the markets might stage a July-like recovery amid high volatility. Although, markets have bounced back sharply, chances of a full recovery look remote currently. Going forward, one needs to watch the 15,530-15,640 zone for the Sensex as crucial for the current upmove to remain intact. As and when it comes below this level, the index is likely to test its long-term support of 14,800.
While the jury is out on this, Onida says its products are the real heroes of the new campaign.
Bank of Baroda (BoB) has launched an initiative to facilitate two-way flow of investments between India and the UAE, a senior bank official has said.
Trades between FIIs generated a volume of Rs 41 crore on the BSE Wednesday-an decrease of 48.69% from Rs 80 crore clocked on Tuesday. As many as six stocks witnessed trades of 6.13 lakh shares on Wednesday.
Bank of Baroda has set a target to sanction Rs 3,095 crore to small and medium enterprises (SMEs) in Gujarat by March 2010 through its six SME loan factories.
The epic, Mahabharata, thinks that human beings are fundamentally flawed and their faults make the world “uneven” (vishama). As a result, they are vulnerable to nasty surprises. Duryodhana is the chief purveyor of “uneveness” in the epic, but the others also contribute to it in good measure — Yudhishthira cannot resist gambling; Karna suffers from status anxiety; Ashwatthama has a revengeful nature; Dhritarashtra is prone to excessive love for his eldest son and so on. These human defects drive the epic towards calamity. Like the Mahabharata’s characters, investment bankers on Wall Street, rating agencies and even regulators suffer from similar failings, and it is these dangerous infirmities that brought the global capitalist system to its knees in 2008.
B A Prabhakar, Executive Director, Bank of India, says the bank’s net interest margins have contracted due to a rise in the cost of deposits. Excerpts:
ICICI Bank on Friday said its consolidated net profit rose 75.7 per cent to Rs 1,144.6 crore in the quarter ended September on the back of a good show by its subsidiaries.
Bank of Baroda (BoB), the country"s third-largest public sector lender, is planning to recruit 3,500 people including officers during the current fiscal.
No clarity yet on brokerage fee, securities transation tax yet.
Polling to elect new assemblies in Maharashtra, Haryana and Arunachal Pradesh began early this morning, in the first crucial test of popularity for major political parties after the Lok Sabha polls six months ago.
The ongoing debt crisis in Dubai offered a great opportunity for India to become the global gold trading hub, said Vinod Hayagriv, chairman, All India Gem & Jewellery Trade Federation.
Indian cricketers are rarely a hit on the silver screen.
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.
Prime Minister Manmohan Singh today voiced confidence that India would quickly return to the path of sustained high level growth of 9-10 per cent.
Congress MPs from Telangana region today met senior party leader and Defence Minister A K Antony demanding disciplinary action against Y S Jaganmohan Reddy for joining a TDP protest in Lok Sabha against the decision to carve out a separate state from Andhra Pradesh.
TDP members today vociferously opposed the creation of Telangana leading to a brief disruption of the Question Hour in the Lok Sabha.
Congress MPs from Telangana region today met senior party leader and Defence Minister A K Antony demanding disciplinary action against Y S Jaganmohan Reddy for joining a TDP protest in Lok Sabha against the decision to carve out a separate state from Andhra Pradesh.
Telugu Desam Party (TDP) and Praja Rajyam Party are in a fix over their stand on Telangana and the leaderships have dropped enough hints about a "re-think" in the wake of mounting pressure from within the ranks for a unified Andhra Pradesh.
Panel shortlists five candidates, decision on winning entry in January.
The poor, as the Bible has it, will always be with us and, therefore, accepted as part of the human condition. But it isn’t the poverty that is unacceptable; it is destitution, the hopelessness of life at the end of its tether that raises the question, What’s to be Done? And to paraphrase Marx, it isn’t enough to understand why India remains an overwhelmingly poor country after more than 60 years of Independence; the task is to change it. Professor Amit Bhaduri’s The Face You Were Afraid to See: Essays on the Indian Economy (Penguin, Rs 250), which is a sequel to his 1996 book, (along with Deepak Nayyar) The Intelligent Person’s Guide to Liberalization, tells us why and what could be done to get out of the hole we have dug ourselves in.
A V Rajwade / New Delhi December 07, 2009, 0:32 IST
Participants from 22 African countries are likely to attend the second India-Africa Hydrocarbons Conference, scheduled to be held here tomorrow and the day after. The objective is to bring together ministers in-charge of oil and gas, top government officers and captains of the industry for exploring partnership opportunities.
The government today said market regulator Sebi does not monitor usage of proceeds of any initial public offers (IPOs) and it is not contemplating any change in the current regulatory framework.