Management
Omaxe net dips 73.6% Real estate player Omaxe on Friday reported 73.6 per cent decline in its consolidated net profit for the quarter ended June 30 at Rs 14.96 crore as against Rs 56.67 crore in the year-ago period. The consolidated net profit during the first quarter also dipped 66.06 per cent to Rs 118.91 crore from Rs 350.33 crore in the same period last year, the company said in a statement.
Nilanjana S Roy / New Delhi December 1, 2009, 0:39 IST
Corpus may touch $500 mn if infrastructure included
Private Equity (PE) investments into South India have dropped 64 per cent between April and September, 2009, to $626 million from $1752 million, during the same period last year. The number of deals fell 48 per cent. Among the four states in South, Andhra Pradesh had attracted the highest investment, in terms of value.
Private Equity (PE) investments into South India have dropped 64 per cent between April and September, 2009, to $626 million from $1752 million, during the same period last year. The number of deals fell 48 per cent. Among the four states in South, Andhra Pradesh had attracted the highest investment, in terms of value.
India’s power sector will be a key destination for private equity (PE) players to park their money, with close to $1.64 billion worth of infrastructure funds, mainly in power, awaiting their launch. According to industry experts, once the liquidity situation improves globally, the sector will see good investment momentum.
One of the largest contracts for thermal power.
Kolkata Metro still in red, but DMRC is making operating profits
Stock markets surged on hopes of a push to domestic economic reforms, positive G-20 talk and firm global markets. The Sensex gained 340 points to end at 16,499 and the Nifty closed at 4,898, up 102 points.
India’s power sector will be a key destination for private equity (PE) players to park their money, with close to $1.64 billion worth of infrastructure funds, mainly in power, awaiting their launch. According to industry experts, once the liquidity situation improves globally, the sector will see good investment momentum.
Five-hour tense standoff in rural Bengal finally ends without violence.
To widen the probe against former Jharkhand Chief Minister Madhu Koda and his associates for alleged illegal investments worth Rs 2,000 crore, the Income Tax (I-T) department and Enforcement Directorate (ED) will share information with various central economic intelligence agencies.
The designer Nano will hit the streets soon. The world’s cheapest car has generated interest of designers like Dilip Chhabria and former Maruti Suzuki India chief Jagdish Khattar, both of whom are working on a re-designed avatar of the car.
Former Jharkhand Chief Minister Madhu Koda was today discharged from a city hospital and claimed he was "innocent" and was not involved in the Rs 2,000 crore hawala scam even as Income Tax officials prepared to question him in connection with the case.
Hinduja Group company, Gulf Oil Corporation today said its subsidiary has entered into an agreement with Biocon to sell its Active Pharmaceuticals Ingredients (API) undertaking, for an undisclosed amount.
In a major setback to India"s oil diplomacy, the ONGC-Hinduja Group alliance has lost the rights to develop Iran"s South Azadegan oilfield to CNPC of China.
Hinduja Group flagship company Ashok Leyland is likely to increase prices of its commercial vehicles across all models by April 2010 to offset rising input costs.
Sun TV Network is planning to restructure its distribution business and team with a creation of two verticals — South India operations and International business and the second would focus on expanding Sun TV bouquet into the north, west and eastern markets of India.
The stock of Thiru Arooran jumped 4 per cent to Rs 165.75, after the government extended by 15 months a deadline for an obligation to export refined sugar against prior raw sugar imports until the March 2011. The move is meant to increase local supplies and rein in prices of the sweetener which rose more than 50 per cent in November 2009 from a year ago due to tight supplies.
The government could be among the least active investors in the stock markets, but it appears to have come out the winner in terms of returns--its equity portfolio appreciated by about Rs 10 crore in every minute of trade in 2009 resulting in a total gain of Rs 6,50,000 crore.
Gulf Oil Q1 FY10 PAT at Rs 21 cr
The government should cover the entire chain of manufacturing medical textile for exports under tax benefits for promoting a promising area of growth in the global market, industry body FICCI said.
Opting for status quo, Congresss ally NCP today named Chhagan Bhujbal for the post of Deputy Chief Minister in Maharashtra and ruled out yielding key portfolios like Home and Finance to the senior coalition partner.
The Indian Biscuits Manufacturer’s Association (IBMA) has appealed to the government to bring down the prices of wheat, sugar, edible oil and milk powder — the ingredients used for biscuit manufacturing.
Hyderabad-based vaccines and biotherapeutics manufacturer Bharat Biotech International said on Wednesday that its anti-staphylococcal molecule Lysostaphin had secured patent rights in US, Europe, China, Australia and other nations.
Drug maker FDC today said it has bought back shares worth Rs 17.78 crore from its shareholders, following which the promoter group"s holding in the company has increased to 65.76 per cent.
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.
Euphoric over finding traces of water by a Chandrayaan payload, confirmed by NASA"s spacemate onboard the country"s maiden moon mission, India is mulling exploring lunar surface deeper for water in its next Odyssey.
Ahead of the climate summit next week, a senior Indian officials has met UN Secretary- General Ban Ki-moon to discuss the country"s stand on climate change.
The global swine flu pandemic will expose the failure of the international community to invest in health protection in poor countries, the world"s top health official warned here today.
Will Hindustan Unilever"s sales pitch for Lifebuoy around swine flu prevention work?
Euphoric over finding traces of water by a Chandrayaan payload, confirmed by NASA"s spacemate onboard the country"s maiden moon mission, India is mulling exploring lunar surface deeper for water in its next Odyssey.
In keeping with the Reserve Bank of India (RBI) guidelines for the Residuary Non-Banking Finance Company to exit deposit-taking business by March 2011, Kolkata-based Peerless General Finance & Investment Company scaling down its RBFC operations, while focusing on new business lines like asset and wealth management.
Aban Offshore slumped over 8% to Rs 1,130 on the back of 65% decline in net profit.
The surge in swine deaths in the country continued today with five more people succumbing to the deadly virus, raising the death toll to 208 even as the government said Tamilflu drug will be available in 480 select chemist outlets.
The Supreme Court today decided to commence final hearing on the high-profile gas dispute between the group firms of Mukesh Ambani and his younger brother Anil from October 20.
T N Ninan / New Delhi August 29, 2009, 0:12 IST
The Supreme Court is likely to defer the gas dispute between Mukesh Ambani group firm RIL and Anil Ambani group company RNRL to September 4, as the chief justice may lead a Constitutional Bench the same day.
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.
Novartis’s famed cancer drug, Glivec, will not get patent protection in India. The apex body on patent and trademark disputes, the Intellectual Property Appellate Board (IPAB), has ruled that the drug “lacks innovation” and the high price tag of Rs 1,20,000 per month per patient would be too high for the common man. “Any patent granted to support such a high monopoly price would be against ‘public order’,” the ruling said.
Swiss drug maker Novartis AG has hiked its stake to 76.42 per cent in its Indian subsidiary Novartis India pursuant to the completion of open offer.
Zenotech Laboratories today said the Madras High Court has ordered Japanese drug firm Daiichi Sankyo not to go ahead with the planned open offer for an additional 20 per cent stake in the pharma firm.
Japanese drug maker Daiichi Sankyo, which has a controlling stake in Indian pharma major Ranbaxy Laboratories, has narrowed its full-year losses at 215.59 billion yen (about $2.2 billion) on account of changes related to accounting guidelines in Japan.
Domestic pharma major Ranbaxy, now owned by Japan"s Daiichi Sankyo, cut the remuneration to its directors by about Rs 3.5 crore in last fiscal, but the payout still exceeded the limits prescribed by the government.
Just over a week after the Madras High Court granted the Chennai-based two-wheeler company TVS Motor the permission to use twin-spark plugs in its motorcycles, Bajaj Auto has decided to move the Supreme Court against the ruling.
After robust 2009, wherein funds garnered via the Qualified Institutional Placements (QIP) route touched a record Rs 41,522 crore, India Inc seem keen to start this year too on an earnest note. Most companies prefer the QIP route as it cheaper and quickest route with minimum disclosures. There"s no lock-in and the whole process takes little time.
AV Rajwade / New Delhi December 28, 2009, 0:57 IST
The government today said the pledge to cut 20-25 per cent emissions intensity by 2020, which is equivalent to the 2005 level, is a voluntary domestic commitment and not globally binding, the Rajya Sabha was informed today.
Dismissing the US claims that India"s domestic climate actions can be challenged, top environmentalist R K Pachauri today made it clear there was no power granted to America in the Copenhagen accord for such interference.
Terming inflation turning positive after a gap of three months as "expected", Finance Minister Pranab Mukherjee today said inflationary pressure would rise further in the days to come.
Despite reasonably comfortable liquidity conditions, the long term bond yields have inched up significantly during the last few months. The yield on the benchmark 10-year bond surged by almost 100 basis points between April 17, 2009 and and September 10, 2009. The huge Government borrowing programme for the current fiscal to fund the mounting fiscal deficit has largely been responsible for the spike in the G-sec yields. The net market borrowing of the Central Government through issue of dated securities in FY10 is estimated to be Rs 3,97,957 crore, of which the Government has raised Rs 2,43,911 crore so far (up to September 4, 2009; including Rs 28,000 crore of MSS de-sequestering).
Swiss drug maker Novartis today said its newly developed vaccine ‘Celtura’ against Influenza A H1N1 (swine flu) has shown effective result during a pilot test conducted by it.
Novartis India, a subsidiary of Switzerland-based Novartis AG, is all set to grow its business revenues by four times in the next five years. The company"s over-the-counter business unit is looking at introducing more products in the consumer healthcare segment.
The puppy has come to life. Calcium Sandoz, the 40-year-old calcium supplement brand for kids from Novartis, has long been synonymous with its cute ‘puppy’ packs. The company has now rolled out a television commercial which for the first time features the puppy in action — it helps a kid do his everyday tasks and activities with ease.
Consumer healthcare products maker Johnson & Johnson today reported a 3.6 per cent drop in profit at $3.20 billion for the three months ended June, mainly on account of overall fall in sales.
While the deal looks beneficial for Uttam Galva as well as ArcelorMittal, the former’s stock has captured most of the positives making valuations expensive
The country"s largest steel maker Steel Authority of India (SAIL) today said it is open to partnering NMDC in setting up a steel plant in Karnataka, primarily catering to sectors like the automobile and consumer durables.
Mid-size steel maker Uttam Galva Steels said today it is not opposed to merger with the world’s largest steel producer ArcelorMittal and is open to all options aimed at taking the company to “new heights.”
Mid-size steel maker Uttam Galva Steels said today it is not opposed to merger with the world"s largest steel producer ArcelorMittal and is open to all options aimed at taking the company to "new heights".
The main reason for the move is the volatility in prices and inconsistent supplies for value-added grades
Says the co-promoter deal will give it technology access, assured raw material supplies.
Fraud-hit Satyam Computer Services Ltd is planning to cut real estate costs by terminating the lease contracts of four facilities in Hyderabad.
Ashok Leyland, the commercial vehicle maker, has reported a 450 per cent increase in net profit for the quarter ended December 31, at Rs 104.6 crore as against Rs 18.9 crore for the corresponding period in the last financial year.
With rising terror threat, the Centre today asked states to beef up security for both public and private aircraft fleet and aviation facilities, including abandoned airstrips, and carry out drills on a regular basis.
Global steel major ArcelorMittal, which has lined up Rs 1 lakh crore investments for India, said today it is in the race for a chunk of the mineral-rich Chiria mines in Jharkhand.
Barely three months after emerging out of bankruptcy, General Motors has launched its luxury Sedan, the Chevrolet Cruze, in India. Built on a global platform called the 300 series, the Cruze will compete with the Honda Civic, Skoda Laura and Volkswagen Jetta for a space in the executive segment.
Munjals-promoted Hero Group today said it will launch up to six premium bicycles, priced up to Rs 35,000, in the country and also enter the category of children"s fancy cycles.
The Delhi high court last week ruled that equity shares cannot be considered as liabilities under the Recovery of Debts Due to Banks and Financial Institutions Act. Therefore, a claim to issuance of shares or delivery of shares in place of debt repayment cannot be regarded as an action seeking the recovery of a debt as defined in Section 2(g) of the said Act. This ruling against the order of the debt recovery tribunal in Delhi came in the case, Cochin International Airport Ltd vs Hudco.
The Centre has expressed confidence that by 2020 the polluted river Ganga would be cleaned and Rs 15,000 crore will be spent on it. “The Union government is confident to clean the holy Ganga river by 2020 and Rs 15,000 crore will be spent for this purpose under the river development fund,” Environment Minister Jairam Ramesh said here.
Deepak Lal / New Delhi December 29, 2009, 0:17 IST
Even as Union Home Minister P Chidambaram appealed to political parties in Andhra Pradesh to restore peace, transport across the state was crippled on Tuesday.
An all-party meeting chaired by Home Minister P Chidambaram to devise a mechanism and a road map to resolve the vexed Telangana issue began here today with TRS chief K Chandrasekhar Rao, spearheading the movement for a separate state, and Chief Minister K Rosaiah attending it.
Students of the joint action committee (JAC) at Osmania University, the nerve centre of pro-Telangana protests, on Sunday said they would block all the entry points to Hyderabad, including national highways, in a bid to prevent leaders of Seemandhra (Rayalseema and Andhra) from entering the state capital on January 5.
Card-check law sought by labour leaders would make union organising easier.
Eleven students of Osmania University, who have been on an indefinite hunger strike demanding a separate Telangana state, were shifted to hospital on Monday after their health deteriorated.
Aditya Birla Capital Advisers, the private equity arm of Aditya Birla Financial Services Group, today announced closure of its first fund with the investment commitment of about Rs 675 crore.
Business Standard / New Delhi October 22, 2009, 0:54 IST
The Sensex has gained 53 points to the day"s high of 16,412. The Nifty is up 32 points at 4,914.
Anil Dhirubhai Ambani Group (ADAG)’s flagship company Reliance Infrastructure Ltd (R-Infra) has won a Rs 1,000-crore road project from the Gujarat government, within a week after winning the Rs 1,725-crore Pune-Satara Road project from the National Highway Authority of India (NHAI).
Devika Banerji / New Delhi November 11, 2009, 0:33 IST
HC quashes use of emergency power for land buys; ADAG firm says it’s a procedural issue.
Leading auto maker Bajaj Auto today said its technology ExhausTEC, which helps improve performance of a two-wheeler, has been granted a patent by the Munich-headquartered European Patent Office.
GMR Energy Ltd, the subsidiary of Bangalore-based infrastructure major, GMR Infrastructure Ltd, has finalised a Rs 400crore investment plan to relocate and restart its barge-mounted naphtha fired power project from Mangalore on the west coast to Kakinada on the east coast in Andhra Pradesh. The new plant, which will use natural gas as basic fuel, will be operationalised by March 2010.
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.
To make up for 80% of losses incurred by component suppliers
Bosch Ltd, a supplier of automotive, industrial consumer and building technology products, has failed to meet its target for the year-long share buyback programme. Robert Bosch GmbH of Germany, the parent company of Bosch, currently holds 71.18 per cent stake in Bosch Limited.
The Ministry of Home Affairs (MHA) has turned to India’s private sector to arm the police forces with weapons needed to respond to terror attacks like 26/11.
The setting is very playful with a fit Mahendra Singh Dhoni asking an even fitter Bipasha Basu out on a date. She agrees, only if he can beat her in a race. The next morning, the two set out to race. Basu creates hurdles for Dhoni by distracting people on the way. Thus, when he finally makes it to the finish line, she’s already waiting for him, but is willing to give him a second chance.
General Motors Co and Ford Motor Co announced sales incentives aimed at luring owners of Toyota Motor Corp vehicles, after the Japanese carmaker expanded recalls to fix accelerator pedals that may stick in some models.
Religare Finvest, the non-banking finance arm of Religare Enterprises, today said it has entered into an agreement with public sector Corporation Bank to offer services to small and medium enterprises.
The Sensex is now at 16,962, up 85 points. The Nifty is at 5055- up 22 points.
Likely to kickstart its hybrid plans for India by a preview at Auto Expo 2010
Homegrown auto maker Mahindra & Mahindra (M&M) today reported its highest ever domestic monthly auto sales with 67.4 per cent increase in January at 28,988 units against 17,320 units in the same month last year.
The country"s largest lender, State Bank of India (SBI), reported a 8.40 per cent decline in its consolidated net profit at Rs 3,304.59 crore for the third quarter ended December 31, 2009.
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?
China’s growth probably exceeded the economy’s speed limit in the fourth quarter, escalating pressure on Premier Wen Jiabao to withdraw stimulus measures even as the government seeks to strengthen domestic demand.
Actor-turned-politician Chiranjeevi, whose party Praja Rajyam is opposed to bifurcation of Andhra Pradesh, today met Home Minister P Chidambaram and apprised him of the "deteriorating" law and order situation in the state.
The trade ministers of th key WTO members, including India, Brazil and EU, will meet chief of the multilateral body Pascal Lamy on the sidelines of the ongoing World Economic Forum meeting here tomorrow to discuss the progress of the Doha Round.
Telecom giant Bharti Airtel has managed to declare a profit but its results show a real problem in even the top line. This underscores the need for these market leaders to find other ways to monetise customers. The plain vanilla voice market is no longer profitable, but these companies haven’t done much by way of value added services apart from the caller tunes, which is now an old story.
Sobha Developers, the Bangalore-based publicly-held real estate developer, is understood to be in discussions to raise Rs 300 crore at project levels.
Business Standard / New Delhi January 22, 2010, 0:58 IST
Candidly favouring immigration, opposition leader Tony Abbott today asked Australians to have "a mature debate about immigration without being branded racist."
Business Standard / New Delhi December 28, 2009, 0:48 IST
In yet another attack on an Indian in Australia, a 29-year-old man was set on fire by a group of four assailants here, drawing strong condemnation from a student body which called such assaults unacceptable and asked authorities not to “dodge” the issue.
Consumer durable companies with a manufacturing base in India are planning a price rise by March this year due to rising domestic steel prices.
The electric version of General Motors India’s small car Spark will hit the Indian road in the next 12 months, said its vice president P Balendran.
A cartoon in a Delhi newspaper, which allegedly depicted a Victoria policeman as a member of hate group Ku Klux Klan in the wake of attacks on Indians, has sparked an outrage in Australia with acting Prime Minister Julia Gillard condemning it as "deeply offensive".
With the Dubai World crisis, Indian exporters have again started biting their nails, even as the government assured there would be no impact on the domestic economy.
Global rates of the yellow metal jump 38.4% compared with 34% at home in 2009.
Promises mega investment in green vehicles, new models, jobs
Mono-brand stores, or single-brand retail outlets, have become the new growth mantra for consumer durables companies. What was a trickle initially is fast turning into a deluge, with leading companies drawing up aggressive plans to scale up their presence through mono-brand stores.
Oscar-winner A R Rahman’s victorious run at awards ceremonies continues with the music maestro now fetching two nominations at the 2010 Grammy awards for his soundtracks from ‘Slumdog Millionaire’.
The Andhra Pradesh government has awarded the State Wide Area Network (Swan) project to Tata Consultancy Services (TCS), the country"s largest information technology company, on a five-year build, own, operate and transfer (Boot) model.
The country"s largest carmaker, Maruti Suzuki India today said it is considering increasing the production capacity at its Manesar facility, and a decision on this is likely in a day or two.
The country"s largest car manufacturer, Maruti Suzuki India, is expecting a double digit growth over the next few months.
Nancy Birdsall & Arvind Subramanian / November 21, 2009, 0:40 IST
Wiser from last year’s free fall, realty companies discovered a new mantra in ‘affordable housing’ and found help from banks that offered low-interest home loans to build their businesses in 2009.
The markets have extended losses in the last few minutes. The Sensex is now down 54 points at 17,561. The Nifty is down 15 points at 5,248.
The Sensex after opening flat, surged to a high of Rs 17,658. The index then slipped to a low of 17,604 - down 54 points from the day"s high.
Bank of Maharashtra and State Bank of India Funds Management have joined hands to distribute mutual funds of the latter through the bank"s branches across the country.
A host of companies plan to cash in on the spending boom.
Global quick service restaurant chain Domino"s Pizza is planning to hire up to 1,800 new employees during this fiscal to service its expanding chain.
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 Reserve Bank of India (RBI) today tightened the guidelines for external commercial borrowings (ECBs) by withdrawing relaxations provided to companies to raise money from overseas debt markets, a move that will contain surge of capital flows.
ICICI, Kotak Mahindra announce fixed-cum-floating rate schemes.
Mutual fund houses are aiming to raise money at a time when the existing equity funds are finding it tough to cope with low inflows and redemption pressure. Should you subscribe?
The BSE metal index tops the sectoral gainers list with an appreciation of 233 per cent.
The Bombay Stock Exchange, the National Stock Exchange and bullion market are closed today on account of "New Year" holiday.
Promoters aim to hike stake; Dalmia’s stake over 25%
Volvo Trucks India today said it has increased prices of its vehicles by 3-4 per cent starting this year on account of rising input costs.
Anglo-Australian mining major Rio Tinto today said it will make its first ever sale of iron ore in India, to Essar Steel.
Indian stocks trading on the American bourses $5.33 billion to their cumulative market capitalisation, with the IT bellwether Infosys Technologies and private sector lender ICICI Bank accounting nearly half of the gain.
Here is our take on 10 market trends to watch out for in 2010.
Shishir Prashant / Dehradun January 1, 2010, 0:23 IST
Consequent to the sharp run up in markets in 2009, investors will have to be careful in picking stocks while lowering their return expectations
Kishore Biyani-led Future Group is planning entry into hotel business and may set up the first one in the next six months.
Bank of America Corp, the largest US lender, raised $19.3 billion selling securities at $15 apiece in the biggest sale of stock or preferred shares by a US public company since at least 2000.
Markets continue to trade subdued.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 694.71 crore in futures and options segments on Tuesday.
US markets ended flat on Tuesday. The Dow dropped two points to 10,545 while the Nasdaq slipped three points to 2,288.
In yet another move to increase the flow of Japanese investment into India, visiting Japanese Prime Minister Yukio Hatoyama today assured India’s leading industrialists and bankers to look into the option of directly linking the rupee and yen.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
Analjit to guard stake by pumping in money.
The industrial consumers numbering 19,417 owed Rs 220.15 crore as outstanding electricity bill to the power distribution companies in the state.
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).
Sensex ends up 35pts
Sun Pharmaceutical Industries has settled a patent dispute with MedImmune, a unit of drug major Astra Zeneca, to dismiss an ongoing litigation in a US District Court. This was on patent rights of Ethyol (amifostine), a drug used to reduce toxicities associated with chemotherapy and radiation in head and neck cancers.
The stock ended at Rs 1,468, up 1% from its previous close. The counter clocked volumes of 18,616 shares as compared to the two-week daily average traded volumes of 30,875 shares on the BSE.
Seven out of the top 10 companies lost nearly Rs 46,000 crore from their market capitalisation past week, while companies including state-run MMTC, Infosys Technologies and Tata Consultancy Services (TCS) saw their valuation surge.
Nine of top-10 country"s most valued firms added nearly Rs 49,000 crore last week with the exception of power equipment maker Bharat Heavy Electricals (BHEL).
Upstream oil and gas regulator DGH today attributed the poor interest in auction of exploration blocks to the Ambani brothers" gas dispute.
Pinched by rising raw material prices, fast moving consumer goods (FMCG) companies, especially manufacturers of packaged foods and soaps, may raise prices or reduce grammage per pack over the next one or two quarters.
Sunanda K Datta-Ray / New Delhi November 07, 2009, 0:37 IST
Former deputy director general of Telecom department Runu Ghosh was today sentenced to three years rigourous imprisonment by a court here for amassing disproportionate assets to the tune of Rs 20.94 lakhs.
The Finance Ministry today hinted that stimulus packages given to the industry may be rolled back, saying too much stimulus could be injurious when the economy is on a revival mode.
The year 2010 is going to be another tough year for the retailers in the UK, who are likely to cut more jobs driven by low consumer demand and weakness in the economy, says a survey.
The tremors from the Dubai World crisis are unlikely to be felt by Indian information technology (IT) service providers, since they do not have a major exposure to the market in that region.
The government today said it has shown "no favour" to Mahindra Satyam by extending the deadline for restating of accounts by six months to June 2010.
Mahindra Satyam today said it has received legal notices for claims totalling Rs 1,230.40 crore from as many as 37 companies, to whom it has replied terming these claims as "legally untenable".