Business Ideas
Nation building through learning – Usha Martin Education & Solutions Limited (UMESL), forays into providing standardized end-to-end solutions and school management services to enable the creation of a national network of high quality English medium K-12 schools with a focus on non-metro towns and cities of India.
Indian Oil Corporation (IOC), the country"s largest refiner, today reported a steep decline of 76.45 per cent in net profit at Rs 696.59 crore for the third quarter ended December.
Bidya S Sahay, who is currently serving as director at Institute of Management Technology (IMT) Ghaziabad, has been appointed as the new director of Gurgaon based Management Development Institute (MDI). Sahay will take over from the C V Baxi, Acting Director, MDI Gurgaon on April 1, 2009.
Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10.
The decision to exit your stock holdings is never easy. But it is important to keep profit-booking for better returns.
After a weak opening today, the Indian markets have extended losses on subdued cues from Asian peers. The Sensex has dropped further to a low of 16,706 - down 160 points from the day"s high. The index is now down 134 points at 16,726.
As energy costs rise ahead of inflation, awareness of potential impact of climate changes increases among organisation’s stakeholders. By 2014, strategies of at least two-thirds of organisations will exploit or risk-mitigate environmental sustainability, according to Gartner Inc, an information technology research and advisory company.
Backed by government stimulus measures and a low base effect, growth in industrial output touched a two-year high in November 2009. The index of industrial production (IIP) grew 11.7 per cent, primarily due to growth in manufacturing (12.68 per cent in November as against 2.7 per cent last year), fuelling a debate on withdrawal of fiscal and monetary stimulus measures.
Movement on this seems stuck and linked initiative to defreeze progress needed, say analysts.
New Delhi today cautioned against countries taking protectionist measures to safeguard their economies saying trade barriers can diminish growth and create instability.
Prime Minister Manmohan Singh today said India is open to discussions on a free trade pact with the US on the lines of the agreement New Delhi already has with the 10-nation South East Asian bloc.
The government today said India is willing to take on more responsibilities than other SAARC members for the economic development of the region but said "bright" prospects of co-operation have been hurt by cross-border terrorism.
Anil Ambani’s direct-to-home (DTH) division Reliance BIG TV is in talks for high definition (HD) content to be aired on its DTH platform. The company will invest Rs 150 crore in content acquisition and is believed to be in talks with global media houses like BCC, CNN and Comedy Central for non-film content.
Auto maker VE Commercial Vehicles today reported 65.11 per cent growth in its total sales of Eicher trucks and buses in October at 2,257 units.
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.
Kalpana Jain / New Delhi January 24, 2010, 0:44 IST
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.
The Orissa government is mulling to implement a mass housing scheme for providing houses at affordable prices to the economically weaker, lower and middle income group. The project will be implemented in public-private partnership (PPP) mode.
After receiving Stage –II clearance from the Ministry of Environment and Forest (MoEF) for its 12 million tonne steel plant in Orissa, Posco-India has initiated various activities including infrastructure development to expedite the project work.
Digital imaging company Canon India is targetting a turnover of Rs 1,100 crore during 2010, a growth of 25 per cent compared to last year, a top official today said.
UN Intergovernmental Panel on Climate Change (IPCC) chief R K Pachauri today favoured a new legally binding treaty with essential features of equity enshrined in Kyoto Protocol, which are sacrosanct to India.
India"s exports declined by 28.4 per cent in July over the same month last year, contracting for the tenth month in a row, as overseas shipments were hit by slowdown in major global markets like the US and Europe.
- T N Ninan: Failing capitalism">T N Ninan: Failing capitalism - BJP, JD(S) win two seats each in bypolls - IT/ITeS firms operating income grows 15% - Non-basmati export ban hits organic farmers in Kerala - IDBI Bank yet to begin Rs 13,000 cr syndication for RPower - BHEL Trichy eyes Rs 10,000 cr turnover
Sensex ends up 35pts
Yash Raj films" New York, which released worldwide on June 26, has grossed Rs 35 crore in its three day first weekend.
Shobhana Subramanian / Mumbai December 4, 2009, 0:41 IST
After Switzerland, South Africa, New York and Hong Kong, it is Egypt that is now looking at grabbing a piece of the Bollywood film action.
Big Bazaar, the hypermarket of Pantaloon Retail, has come out with a breakfast cereal range under its private label, Tasty Treat. Big Bazaar already sells noodles, pasta, vermicelli, soups, namkeens, chips, toast, khari, papads, jams, pickles, carbonated drinks, ketchup and fruit beverages under the brand. It has now added breakfast cereals to the range.
Former Prime Minister and BJP patriarch Atal Bihari Vajpayee turned 86 today with several leaders, including Prime Minister Manmohan Singh, turning up at his residence here to greet him.
Terming as "unfortunate" the stalled Indo-Pak talks, Pakistan has advocated delinking of resumption of composite dialogue from the 26/11 probe, saying it was "seriously" pursuing all the leads provided by India.
With just two trading days in the current week and a decision likely on the government borrowing plan for the second half, the yield on government bonds are expected to remain range-bound.
The government might consider selling fewer bonds in the year ending March after announcing expenditure cuts yesterday, Finance Secretary Ashok Chawla said.
The government today ruled out any increase in its borrowing programme for the current fiscal and said expenditure needs due to failed monsoon would be met with additional tax and adjustments within the budget.
Kanika Datta / New Delhi September 17, 2009, 0:42 IST
Japan Airlines will slash 6,800 jobs and suspend a number of overseas routes in an attempt to cut cost.
Stock broker Ketan Parekh, alleged mastermind of the securities scam of the 1990s, has moved the Supreme Court seeking permission to travel abroad for the treatment of his daughter.
Economy is likely to grow by 7 per cent or a "little more" in the current fiscal returning to a fast expansion pace after a sluggish 2008 due to the global economic crisis, Prime Minister Manmohan Singh said today.
The country"s second-largest car maker Hyundai Motor India (HMIL) today reported a 28.46 per cent growth in its total sales in November at 55,265 units, its highest ever since starting operations in India 12 years ago.
After a promising start, key indices first witnessed an upside breakout, and then crashed due to derivatives expiry and the Dubai debt scare.
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.
Barun Roy / New Delhi December 17, 2009, 0:59 IST
Kishore Singh / New Delhi November 3, 2009, 0:30 IST
US car maker General Motors today launched its luxury sedan Chevrolet Cruze in India at an introductory price ranging from Rs 10.99 lakh to Rs 12.45 lakh (ex-showroom, Delhi).
These last few days Mudar and I have been on a treasure hunt. We have been up at the crack of dawn to get a free run of the roads and driving round hunting for garbage dumps. Yes, that’s right, the filthier and bigger the better.
Fears of an imminent price rise, production spillovers owing to spare parts shortages plus a low base effect saw sales of the country"s major car makers grow a record 63 per cent in November.
Reflecting the robust growth witnessed by the Indian economy, major cement manufacturers, including Ambuja Cements, Jaiprakash Associates and Shree Cement, today reported increase in their sales in November.
The Centre today sought to downplay the growing momentum for carving out of small states in some regions after the decision on Telangana and said cooperation of (undivided) states and political parties is needed in addressing such demands.
The Sensex is quoting at 17,636, higher by 20 points, and the Nifty is at 5,271, up 8 points.
South Korean steel giant Posco has finally got the clearance from the Environment Ministry for acquiring forest land for its proposed Rs 54,000-crore steel project in Orissa, which has been already delayed more than a 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.
Leading engineering consultant, Consulting Engineering Services (India) Private Ltd (CES) looks for a total turnover of Rs 350 crore in 2009-10 by providing designing and consultancy services in several key infrastructure projects in the domestic and overseas markets.
Tata Sons Director R K Krishna Kumar today said the company should increase its holdings in Tata Group companies.
Andhra Pradesh chief minister K Roasiah said the central and state governments had a task to strike a balance between growth and inflation. The three fiscal stimulus packages announced by the central government infused liquidity for maintaining economic growth.
Hyundai Motor Co, LG Electronics Inc and other South Korean companies will get greater access to India’s 1.2 billion people in a trade deal to be signed tomorrow.
Sayantani Kar / New Delhi September 22, 2009, 0:51 IST
Customers now have many reasons to look beyond luxury sedans.
Mumbai-based auto maker Tata Motors today stated that its wholly-owned subsidiary Tata Motors European Technical Centre plc (TMETC) has received a loan of £10 million (Rs 78.81 crore) from the UK government for its £25 million (Rs 197 crore) electric car programme.
Gold futures prices shot up to a record high of Rs 18,167 per 10 gram for April delivery at the MCX platform today, tracking firm global markets amid weak dollar.
Aurobindo Pharma Limited has received the tentative approval for Atomoxetine Hydrochloride capsules in 10mg, 18mg, 25mg, 40mg, 60mg, 80mg, and 100mg strengths.
Infotech Enterprises, a city-based IT services company, is set to acquire at least two US firms, company"s Chairman and Managing Director B V Mohan Reddy said here today.
Cash is the preferred mode of payment for over 95 per cent of retail transactions in the domestic bullion market, a market survey said.
IBM today announced that it has signed a 10-year Information Technology (IT) services agreement with Gujarat-based Sardar Bhiladwala Pardi People’s Co-operative Bank (SBPPCB). The engagement will be in the form of a pay-as-you-go model, which will enable the bank to save up to 50 per cent in its capital expenditure on IT Infrastructure, IBM said in a statement.
IBM today announced that it has signed a 10-year Information Technology (IT) services agreement with Gujarat-based Sardar Bhiladwala Pardi People’s Co-operative Bank (SBPPCB). The engagement will be in the form of a pay-as-you-go model, which will enable the bank to save up to 50 per cent in its capital expenditure on IT Infrastructure, IBM said in a statement.
Has gained 10.45 per cent on NCDEX since July 29.
The Finance Ministry today said that customs duty collections at about Rs 18,000 crore in the first quarter of this fiscal and initial reports on steel and cement sectors point to a recovery in industry that would also benefit from tax cuts announced as part of stimulus packages.
How S Ramadorai groomed Natarajan Chandrasekaran as his successor.
India’s largest IT firm Tata Consultancy Services (TCS), is eyeing six-seven deals worth over $100 million in the Latin American region.
Bafna Pharmaceuticals today said it has received approval from Sri Lankan authorities to launch its anti-hypertension product, Olmebaf, in the island nation.
Infosys is a "stunning reminder" of what talent, ingenuity and hard work can accomplish, UPA Chairperson Sonia Gandhi said today.
Business Standard / New Delhi November 25, 2009, 0:52 IST
Rajendra Shekhawat is eyeing Amravati seat
Latha Jishnu / New Delhi November 26, 2009, 0:28 IST
Tanishq, India’s jewellery brand, today unveiled its exclusive ‘Lakshmi Feet Pendant’, a range of divinity jewellery.
Business Standard / New Delhi December 04, 2009, 0:25 IST
The Reserve Bank of India (RBI) today said it would reassess its soft policy stance amid food inflation soaring past 17 per cent even as the the PM"s advisory panel and others called for tightening money supply.
The government on Tuesday said it would not withdraw the fiscal stimulus, provided in the last one year to help the economy deal with the global slowdown, in the current financial year.
Fears of an imminent price rise, production spillovers owing to spare parts shortages plus a low base effect saw sales of the country"s major car makers grow a record 63 per cent in November.
For six years I had lived in Beijing, the constantly churning capital of a dynamic country on the ascent. But I was now to move again, this time to Brussels, the bureaucratic centre of old world Europe. There were many counts on which this was a change I wasn’t looking forward to. But the one positive I did anticipate was an escape from the paroxysm of construction that was emblematic of Beijing’s remorseless embrace of modernity.
Buoyed by better-than-expected GDP growth of 7.9 per cent in the second quarter, the Reserve Bank today said it will have to raise the country"s growth outlook for 2009-10 from the current estimates of 6 per cent.
When is Skoda likely to launch the Laura 1.8 TSI Elegance with a DSG?
I am buying a German high-end car and have shortlisted the Mercedes-Benz C-Class 200 K, Audi A4 and the BMW 3 Series. I am interested in a petrol car as I believe they are more silent than diesels, also the engine is smoother. Further, the car will be driven about 600 km per month, add two trips a year to Mahabaleshwar and maybe a trip to Mumbai. I live in Pune and am 65. I am looking for comfortable ride quality and easy handling within the city. I have just read that Audi has introduced the A4 in 1.8 — and 2.0-litre petrol versions. Kindly advise me as to which car would be most suitable.
After taking a two-day break, bulls re-entered the market today buoyed by good results from Maruti Suzuki India and ITC.
The country"s largest car manufacturer, Maruti Suzuki India, is expecting a double digit growth over the next few months.
Jagdish Khattar wants to fill the gap in the service infrastructure for cars. Will he succeed?
Since the Satyam scam, the focus on corporate governance has increased manifold. Investors should keep a close watch on a company’s activities to ensure safety of their money
Buys US rights for Oscient Pharma"s Antara.
With revenues and profit falling drastically for somtime now, state-run BSNL has hired market research firm IMRB to study the reasons for rising number of surrenders of its landline connections, the main source of income.
The Sensex opened marginally in red this moning but rebounded almost immediately on positive global cues.
The Sensex is exhibiting firmness and is now at 17,708, up 149 points. The NSE Nifty is at 5,280, up 48 points.
The Sensex opened marginally in red this moning but rebounded almost immediately on positive global cues.
State-run Bharat Sanchar Nigam (BSNL) failed to retire a government loan of Rs 7,500 crore despite having a cash-reserve of Rs 18,829 crore as on March 2005, leading to an excess expenditure of Rs 1,089 crore on interest payment during 2005-07.
Steel magnate Lakshmi Mittal has pulled out of a project to develop an oil field in Kazakhstan in partnership with Oil and Natural Gas Corp (ONGC) and is looking for buyers for its stake in another company in the Central Asian nation.
Bharat Sanchar Nigam Limited (BSNL) would provide bandwidth services for the implementation of the Orissa State Wide Area Network (OSWAN) project in the state.
The Sensex opened marginally in red this moning but rebounded almost immediately on positive global cues.
Godrej Properties ended the debut day at Rs 534, which is a premium of 9% to its issue price of Rs 490.
The Great Indian Gold Rush, a month-long event organised by the World Gold Council (WGC), has received an overwhelming response despite the sky-high prices of the precious metal.
The yellow metal rose Rs 155 on the announcement of RBI’s asset purchase, weak dollar.
Arena Animation — the animation and multimedia training business arm of global learning solutions company Aptech — is seeing greater growth from overseas markets as compared with the domestic market.
The scrip gave up mostly all its gains and finally settled flat at Rs 422, up 0.5% from the previous close. The counter clocked volumes of 1.19 million shares as compared to 910,991 shares traded on the BSE.
Anil Dhirubhai Ambani Group (ADAG) company, Reliance Communications, today said its capex would decline significantly starting this year and continue on a downward trend in the future.
The Prime Minister’s Economic Advisory Council, or PMEAC, has favoured a single slab each for goods and services or one common rate for both under the proposed goods and services tax (GST), unlike the proposal mooted by the states.
The 30% growth in profit of the sample has been driven by banks, finance firms.
The US markets have ended on a positive note.
Reliance tops the combined value chart on both the BSE and the NSE with a total turnover of Rs 558.09 crore. It is followed by Suzlon (Rs 531.62 crore), Tata Steel (Rs 413.41 crore), DLF (Rs 390.68 crore) and Aban Offshore (Rs 372.79 crore).
The proposed policy of direct transfer of fertiliser subsidy to farmers is misconceived and inappropriate, according to a study by scholars of the Indian Institute of Management-Ahmedabad (IIM-A).
Wadhwa Committee wants recovery of Rs 95 crore from those behind the fraud.
Tighter norms, better economy reduce credit card non-performing assets.
"Power" seems to be the buzzword when it comes to big-ticket IPOs.
The condition of Gujarat Chief Minister Narendra Modi, who is suffering from swine flu, has improved overnight, doctors attending on him said today.
400 firms to shift to new system in first phase.
Accountancy regulator Institute of Chartered Accountants of India (ICAI) today agreed to withdraw disciplinary proceedings against the Delhi branch of the audit firm Price Waterhouse (PW) in the multi-crore Satyam scam.
Corporate acquisitions in India could become costlier, with market regulator Securities and Exchange Board of India (Sebi) mulling making it mandatory for acquirers to make an offer for up to 100 per cent stake in any listed company.
Union Minister for New and Renewable Energy Farooq Abdullah and Punjab Chief Minister Parkash Singh Badal laid the foundation stone of the 60 Mw biomass-based Green Energy Power Plant of Lakshmi Energy and Foods Limited (Lakshmi Group) at Khamanon village of Fatehgarh Sahib in Punjab.
The European Commission (EC) has objected to Oracle Corp"s proposed $7.4 billion acquisition of Sun Microsystems, saying that the deal could threat competition in the market.
A status paper on the functioning of railways, presented in the Lok Sabha today, punctured former Railway Minister Lalu Prasad"s tall claims of record profit and held that its performance was "below par" during his tenure.
Although the market is hopeful of a solution to the subsidy issue, crude oil prices and the quantum of oil bonds would decide the near-term fate of OMCs.
When reporters asked former Railway Minister Lalu Prasad for a reaction on why his successor Mamata Banerjee was trying to mock his work by bringing out her White Paper, he asked, “Do you know any tantric? I need to consult one.” As the reporters wondered why the RJD chief needed a tantric, Prasad added, “I think there is something wrong with the time of my birth. Earlier, I faced this fodder scam and now people are after me for unnecessary reasons.
While conceding that there had been no major terrorist attack against India since the November 26 attacks last year in Mumbai, Prime Minister Manmohan Singh today said the situation in the neighbourhood was worrying.
The railway ministry is contemplating new policies for land acquisition, including job offers, for the displaced landowners, Railway Minister and Trinamool Congress chief Mamata Banerjee said in the Lok Sabha.
Around 67 per cent of these funds have beaten debt funds and gold over 10 years
Bilcare ended at Rs 512, lower by Rs 2 or 0.3%, on the BSE.
The bears seem to have the upperhand for the last hour or so. The Sensex is now down 100 points at 17,601. The Nifty is down 26 points at 5,255.
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.
A status paper on the functioning of railways, presented in the Lok Sabha today, punctured former Railway Minister Lalu Prasad"s tall claims of record profit and held that its performance was "below par" during his tenure.
Largest insurer’s sales rise 20%.
Anticipating an adverse impact of the new Direct Tax Code, life insurance companies have demand amendments in the proposed code. The draft code had recommended a maturity tax on all life insurance products, if the term was less than 20 years and the premium exceeded 5 per cent of the sum assured.
The most probable directional movement in the rest of the settlement appears to be sideways.
Commercial vehicle maker Ashok Leyland today reported a jump of 31.77 per cent in its net profit for the quarter ended September 30, 2009 at Rs 88.61 crore on account of internal efficiencies and low input costs.
The Bank of America (BofA) has repaid the US government the entire bailout money of $45 billion. The Department of the Treasury announced yesterday that it has received full repayment on its Troubled Asset Relief Programme (TARP) investments in Bank of America in the sum of $45 billion.
India today announced it has designed a new version of Advanced Heavy Water atomic reactor which will use lesser low enriched uranium along with thorium as fuel and having next generation safety requirements.
Casual dining chain Pizza Hut today announced that it has roped in Bollywood star Lara Dutta to promote its newly-launched "Cheesy Bites" range.
Yum Brands, the operator of Pizza Hut and KFC, today said it will introduce its Mexican-style fast-food restaurant chain "Taco Bell" in the Indian market later this year, besides continuing to make investments to grow its business in the country.
After the launch of the country"s first indigenously built nuclear submarine, India has the "technical expertise and capability" to build nuclear-powered aircraft carrier and warships, Atomic Energy Commission Chairman Anil Kakodkar has said.
Garment and apparel retail chain Shoppers Stop today said it has obtained shareholders approval to issue 40 lakh shares by way of qualified institutional placement to garner resources for its expansion plans.
After becoming operational, the Indo-US civil nuclear deal is moving "satisfactorily" with the government now negotiating with nuclear vendors, Atomic Energy Commission chairman Anil Kakodkar said today.
The creation of a single national media policy and a single-window clearance for companies involved in the media and entertainment sector will give required fillip to the domestic media industry, says India Inc.
Less than a week after the National Stock Exchange launched its mutual funds (MF) transaction platform, Asia"s oldest bourse, the Bombay Stock Exchange, today made operational its own MF platform for all investors.
To increase transparency, the Reserve Bank of India (RBI) today directed regional rural banks (RRBs) to disclose the commission they receive from mutual funds and insurers for referring their products to customers.
Foreign institutional investors (FIIs) were net buyers of Rs 198.14 crore (provisional) today, according to data released by BSE.
While the battle lines for folding the Forward Markets Commission into Sebi have been drawn — and good luck with that — I believe that there is a more important, and easier, battle that needs to be fought as well. This has to do with the evolution of the corporate bond market. No less an authority than the prime minister has acknowledged that this is a crucial piece of India’s development and I have little doubt that you are already working with RBI on how best to turn this need into a reality.
The All India Regional Rural Bank Employees Association wants regional rural banks to have a greater autonomy in opening branches in the rural areas, and hence in the process of financial inclusion.
Experian is the second credit bureau in the country to confirm conditions after Credit Information Bureau of India.
The ambiguity over availability of 3G (third generation) telecom spectrum would end soon, as the ministry of defence has agreed to release 25 MHz of 3G spectrum before December 8, paving the way for auctioning of all the four slots in every circle simultaneously. But, the successful bidders in the auction would be able to utilise the spectrum only after June 2010, despite the auction process happening on schedule in January.
Government will support public sector banks to merge if they wanted, provided they fulfilled RBI and SEBI guidelines, Finance Minister Pranab Mukherjee said today.
In a move to bring greater transparency and discipline among market participants, the Securities and Exchange Board of India (Sebi) on Thursday put out mandatory requirements related to dealings between investors and stock brokers (including trading members). The move gives brokers the right to take actions against clients. The deadline for implementing the norms is March 31, 2010.
The assets under management (AUM) of mutual funds in the country have increased to Rs 8 lakh crore at the end of November, mainly propelled by bulk inflow into debt schemes.
The Bombay Stock Exchange (BSE) on Tuesday said it would launch a trading platform for mutual fund (MF) units on December 4. The move comes a day after the National Stock Exchange (NSE) launched a similar platform. Central Depository Services Ltd will be the BSE’s depository partner.
The CBI has charged Satyam founder B Ramalinga Raju, his brother B Rama Raju and eight others with creating fictitious customers and siphoning off Rs 430 crores from the IT firm.
The mammoth fraud at IT major Satyam, involving over Rs 14,000 crore as per CBI, proved to be the most brazen swindling act, forcing the government to re-write corporate governance rules during 2009 and tighten the norms for chartered accountants.
It will be for the third time that Jharkhand will have two deputy chief ministers in its nine-year long political history.
The new five-party coalition in Jharkhand which is all set to assume power tomorrow has 31 MLAs with criminal cases against them.
JMM chief Shibu Soren was today sworn in as chief minister of Jharkhand for the third time at a ceremony which was skipped by top leaders of coalition partner BJP, and will take a floor test in the Assembly on January 7.
Magma Fincorp has picked up 7 per cent stake in Experian Credit Information Company of India, the proposed Indian arm of global information services company Experian.
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.
Pramod Jain, a minority shareholder in Sanjay Dalmia-controlled cigarette-maker Golden Tobacco Ltd (GTL), today made an unsolicited open offer to acquire another 25 per cent equity in the company at Rs 101 a share.
The Jharkhand government will not grant any mining and prospecting licences till the pendency of the President"s Rule, a top government official said.
Shobhana Subramanian / Mumbai December 4, 2009, 0:53 IST
The Nifty has a strong support at the 5,000 mark.
Aim at closing inactive accounts and increase low-cost deposits
New York bankruptcy court to hear former owner’s updated rescue plan today.
Amid reports that Indian corporate giant Reliance Industries (RIL) was mobilising funds for its acquisition, global petrochemical major LyondellBasell has said it has not yet received a final bid.
Around Rs 11,088 crore are being circulated via chit fund schemes in the southern states of Tamil Nadu, Andhra Pradesh and Kerala. Around 58 million house holds have participated in chit fund schemes, according to a recent study released by Institute for Financial Management and Research (IFMR). The study was funded by Bill Gates foundation Bill and Melinda Gates Foundation.
Private sector mutual fund house Religare AMC, a relatively new but fast-growing player, today said that abolition of entry load charged to investors will benefit the company and the industry as a whole.
Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc will receive 31.3 billion pounds ($51 billion) in a second bailout from the UK taxpayer as the two banks agreed to cap bonuses.
Financial services entity Religare Enterprises expects to close its first Rs 600-crore private equity fund, launched in joint venture with UK-based Milestone Capital, by April next year.
State Bank of Mysore (SBM), the Bangalore-based associate bank of State Bank of India, is planning to raise Rs 600 crore through a rights issue. The bank’s board, which met here on Saturday, approved the proposal.
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