Business Opportunities
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.
As expected, the S&P CNX Nifty closed at 5,201 levels on long rollovers in index futures and key stocks futures. The index is expected to consolidate above 5,200 in the new series before moving above the short-term target of 5,350. The rollovers in the Nifty January futures, at 22 million, were at a five-month low, which indicates that bears are waiting in the wings. At similar point in July 2009, the Nifty had gained over 500 points in a couple months to move above 5,000 in September 2009. A similar trend may see the Nifty moving above 5,500 in the near future.
The markets were on a roller coaster over the last two years which made it difficult to predict the road ahead. The Lehman collapse in 2008 and the credit crunch thereafter created an air of uncertainty and investors shied away from risk. Though this resulted in the indices touching multi-year lows in March 2009, the recovery when it came has been consistent and strong. With the markets holding steady and worst behind us, our panel of technical analysts predict that the bulls will be in control in 2010
Aviva Life Insurance-joint venture between Dabur and Aviva and DBS Bank-Singapore headquartered financial services group today announced a bancassurance partnership in India. DBS has branches across 10 cities in India.
The Indian car accessory market is estimated at Rs 1,200 crore.
With demand for real estate picking up, General Insurance Corporation of India (GIC) Housing Finance is targetting disbursal of Rs 750 crore housing loans this year, a top official of the institution has said.
Swati Piramal, Director of Piramal Healthcare, was elected president of Assocham today.
Sun TV erased all its gains and finally ended in the negative terrain at Rs 333. The counter clocked volumes of 6,969 shares as compared to the two-week daily average traded volumes of 18,919 shares on the BSE
The Sensex is exhibiting lacklustre movement and is now at 17,394, up 34 points.
The state-owned copper miner Hindustan Copper will soon appoint merchant bankers to advise it on the proposed share sale aimed at part-financing its Rs 3,500-crore expansion plan.
All Sachin Tendulkar fans, who are already on a high celebrating the master blaster"s 20 years in international cricket, have another reason to rejoice as they now have a chance to own a bat autographed by him.
Barely a week ahead of the UN meet on climate change in Copenhagen, India today made it clear that there will be no compromise on its position on carbon emission cuts and will preserve its economic interest at all cost.
Power, tourism, transport, education, expressways and sugar on priority list.
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.
BofA: Bank of America chief executive Ken Lewis may have fouled things up by poorly executing on a series of takeovers during the financial crisis. But with BofA"s imminent payback of $45 billion of U.S. government assistance, unveiled Wednesday evening, his successor will be able to focus on reawakening the dormant banking monster — and can even get paid for the job.
Aditi Phadnis / New Delhi December 27, 2009, 0:23 IST
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.
The initial public offer of textile firm Jindal Cotex got subscribed 62 per cent on the third day of its issue.
Multinational drug firms Novartis, GlaxoSmithKline and Baxter are likely to initiate discussions with the Union health ministry next week on conducting clinical trials for H1N1 (swine flu) medicine.
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 the presence of water on the lunar surface, Indian Space Research Organisation (Isro) Chairman G Madhavan Nair said here on Friday that the mission was a 110 per cent success.
India will ignore the shadow of taint that surrounds Japanese Prime Minister Yukio Hatoyama when he arrives in Delhi from Mumbai on Monday, and instead applaud two agreements that will be signed tomorrow evening to galvanise industry and infrastructure around the 1,483-km dedicated rail freight corridor between the two cities.
As Japanese Prime Minister Yukio Hatoyama keeps his date for summit-level talks with India before the end of 2009, it is increasingly becoming clear that Japan would like India to restate its commitments over safeguarding imported civilian nuclear technology. This is so that Japanese private companies partnering American and French enterprises can push sales of their nuclear reactors to India.
Completion financing, or last-mile funding, where developers get funds to complete projects stuck midway, is catching on among private equity (PE) funds.
Hyderabad-based drug maker Dr Reddy"s Laboratories plans to launch generic version of the world"s largest selling anti-cholesterol medicine "Lipitor" in the US market in the next 2-3 years.
Against the backdrop of India"s insistence that it would not accept any legally binding emission reductions, a top US Senator has said the Obama Administration needed to build a “flexible” climate partnership with New Delhi to address the issue of global warming.
Resisting Japan"s push for signing Comprehensive Test Ban Treaty (CTBT), India today made it clear that the onus of taking the lead in this regard lies with the US and China which are yet to ratify the pact.
The Planning Commission, as well as farmers in Uttar Pradesh, leading sugarcane-growing state, have opposed a proposal by the food ministry to control gur (jaggery) production.
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 stock slipped to a low of Rs 2,509 and finally settled at Rs 2,526, down 1.5% from its previous close. The counter clcoked volumes of 182,219 shares on the BSE as compared to the two-week daily average traded volumes of 164,010 shares on the BSE. ___________________________________________
India today said it wants a freer global trade through a Doha Accord this year to help its exports which have been in troubled waters following the global economic crisis.
After a massive 387 points fall on the Sensex yesterday. The index today opened on a weak note at 16,699 owing to negative cues from the global markets. The index then started slipping further into the red and is now at 16,229, down 123 points.
The trading pattern in the Futures & Options (F&O) segment suggests that the Nifty could breach its immediate support of 4,820 and find support at 4,750. Daily technical indicators are currently oversold but without any backing from other studies. According to a technical analyst at JM Financial, the chart set-up remains weak and hence positive surprises are unlikely.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
After a massive 387 points fall on the Sensex yesterday. The index today opened on a weak note at 16,699 owing to negative cues from the global markets. The index then started slipping further into the red and is now at 16,229, down 123 points.
The Sensex after attempting recovery has once again slipped into the red. The index is now at 16,677, down 108 points. The NSE Nifty is at 4,947, down 42 points.
The Sensex finally ended (provisional) at 17,032, up 247 points. The NSE Nifty ended (provisional) at 5,060, up 71 points.
Mukesh Ambani-led Reliance Industries was not responding positively in connection with the contract awarded to it for revival of a closed sugar mill at Motipur in Bihar’s Muzaffapur district, state industry minister Gautam Singh said.
The announcement of new date for the roll out of the Goods and Services Tax (GST) was deferred until month-end today as the Finance Minister Pranab Mukherjee is preoccupied with preparations for the next Budget.
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.
The Uttarakhand government has told a high-powered committee that four cumax of water flow would be sufficient to maintain perennial flow of the Bhagirathi in Uttarkhand where three key hydropower projects have been suspended on environmental and religious grounds.
Anil Ambani-led Reliance Natural Resources (RNRL) today alleged in the Supreme Court that Mukesh Ambani Group Reliance Industries (RIL) played a "fraud" by coming out with a complex formula on gas pricing to artificially enhance its rate.
Ruling out strategic sale of Central PSUs, Finance Minister Pranab Mukherjee today said the government will follow the middle path and restrict public holdings in the CPSEs to 10 per cent.
The Shipping Minister said today that the ministry is taking all possible measures to encourage private sector investment in the shipping sector as major ports alone require over Rs 36,000 crore private investment by March 2012.
Disinvestment in three power PSUs - NTPC, Rural Electrification Corporation and Satluj Jal Vidyut Nigam - would be completed during the current financial year while the process of selling stake in other profit-making PSUs is already underway.
The state may not go for power cuts in near future, as being anticipated earlier because of the widening gap between the demand and availability of power in the state.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 184.85 crore in futures and options segments on Tuesday.
Government today filed its affidavit in the Supreme Court on the ongoing gas row between the Ambani brothers saying that the arrangement for public sector NTPC cannot be equated with any agreement between RIL and RNRL.
Raising finance for companies eyeing renewable energy projects would no more be an onerous project as banks and consultants are working on innovative solutions to help these companies.
The Government today made it clear that social security number is not mandatory for getting services from Employees Provident Fund Organisation as the present provident fund membership number will suffice.
Nandan M Nilekani, who was appointed as head of Unique Identification Authority of India(UIAI), today said the government would take steps to end ID card duplication leading to fraud and create a network of verification and authentication.
The empowered group of ministers (EGoM) on the Dabhol power project discussed various issues at its maiden meeting on Monday, including stuck compensation claims.
Whitehall officials examining the feasibility of such a sale.
Journalists in Andhra Pradesh held rallies across the state on Saturday to protest the arrest of Bramhananda Reddy, executive editor, and P Venkat Krishna, input editor, of Telugu news channel, TV5.
Bharati Shipyard (BSL) today said it would abide by the guidelines issued by the market watchdog Securities and Exchange Board of India (Sebi) on the Great Offshore open offer.
Gauging the potential of the "healthy foods" or "functional foods" market in India, FMCG firm GlaxoSmithKline Consumer Healthcare aims to make its cereal bar snacks, "Horlicks NutriBar", a Rs 100 crore brand within three years.
The West Bengal government has earmarked 30,000 acres for industrial projects (around 7,000 acres has been allocated, the rest is at different stages of acquisition), but even as it faces one of the most violent battles for land rights, figures for displacement or project-affected persons are yet to be aggregated.
The Delhi High court today dismissed a petition filed by Mumbai-based Man Industries challenging GAIL"s decision to re-bid for the Dahej-Vijaipur gas pipeline project.
The Delhi High court today dismissed a petition filed by Mumbai-based Man Industries challenging GAIL"s decision to re-bid for the Dahej-Vijaipur gas pipeline project.
Great Eastern Energy Corp today said it has completed laying a gas pipeline from Asansol to Durgapur in West Bengal.
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.
Cipla today said it is talking to many global drug makers, including Pfizer Inc, for the development and supply of generic products.
Drug firm Wockhardt today said it has received the final approval from the US Food and Drug Administration (FDA) for marketing Nicardipine HCI injections in 25mg/10 ml strength, used in the treatment of hypertension.
The world"s largest car maker, Toyota, today unveiled concept small car -- Etios -- which has been specifically developed for the Indian market.
Sun Pharmaceutical Industries scrip rose Rs 32 or 2.3 per cent to close the day at Rs 1,429.20 on reports of US Food and Drug Administration’s (USFDA’s) nod for a generic drug.
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.
The stock has ended at Rs 1,220, up 1% from its previous close. The counter witnessed trades of 108,641 shares as compared to the two-week daily average traded volumes of 59,413 shares on the BSE.
Tata Motors has said all the existing bookings of the Nano will be delivered at the current prices, notwithstanding the rising input prices.
Nalco closed at Rs 392, higher by Rs 16 or 4.5%, 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.
Sun Pharmaceutical Industries announced that USFDA has granted its subsidiary an approval for an Abbreviated New Drug Application (ANDA) for generic Casodex Bicalutamide tablets.
The management at Sun Pharma has indicated that sales in the current year could grow by about 13-15 per cent. That’s better than what was expected earlier and is probably because of benefits that it will get from selling a couple of products—Protonix and Ethyol---exclusively in the overseas markets. But it’s good news because the Rs 4,272 crore drug firm has been going through a bit of a rough patch in the US.
The Drug Controller General of India from next month will issue Certificates of Pharmaceutical Products (CoPP) and Certificates of Good Manufacturing Practice for medicinal products required for exports.
US markets dropped on Thursday as energy stoks dipped on declining oil prices. Wal-Mart"s forecast about consumer spending also impacted negatively.
Hardy Oil to abandon well in D9 block in Krishna-Godavari basin.
Hyderabad-based animation, gaming and entertainment company DQ Entertainment (International) Limited has filed the draft red herring prospectus with the Securities and Exchange Board of India to enter the capital markets with an IPO of 19.8 million equity shares of Rs 10 each.
Improving demand from the US financial sector helps shore up numbers.
If last year was bad for Aditya Birla Minacs, as it was for most companies hit by the global recession, this one is very different.
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.
The Tamil Nadu government attracted investments worth Rs 15,000 crore during 2009, majority of which was driven by the automobile industry.
Ahmedabad-based Prudent Corporate Advisory and Brokering Services is targetting 100,000 Systematic Investment Plans (SIPs) by March 2011.
Groundnut oil prices may touch Rs. 1,500 to Rs. 1,700 per 15 kg
Pushes oil and gas to second and IT to third place.
As many as seven of the top-10 firms added more than Rs 81,000 crore to their market capitalisation during the week, while three state-run companies -- NMDC, NTPC and ONGC -- saw erosion in their valuation.
Railway Minister Mamata Banerjee’s latest fad is a sleek laptop. But if you thought the firebrand leader had suddenly become tech-savvy, then you are wrong. The laptop is used by Banerjee only to play music during her long-distance travels and at night after a day’s hard work. But typically, Banerjee doesn’t carry the laptop in its sleek case. She prefers to bung it into her trademark blue jhola or the sling bag that carries all important papers, including her Budget speech.
The Delhi High Court today issued notices to Ranbaxy founding family members - Manjit Singh, Nimmi Singh, Malvinder Mohan Singh and Shivender Mohan Singh in a property dispute with Max India Group Chairman Analjit Singh.
Inflation, a number of large issues and high valuations may weigh on indices; Sensex expected to trade at a historical average P/E of 15 on FY11 earnings.
Oil & Natural Gas Corporation (ONGc), the country"s largest public sector undertaking, has posted a decline of 26.95 per cent in its net profit for the quarter ended 30 June, 2009 at Rs 4,847.92 crore as compared to Rs 6,636.33 crore in the corresponding quarter last year. The company"s net sales from operations during the quarter, too, dipped to Rs 14,879.27 crore from Rs 20,052 crore, down 25.8 per cent.
Sunanda K Datta-Ray / New Delhi November 21, 2009, 0:08 IST
Sunanda K Datta-Ray / New Delhi November 07, 2009, 0:37 IST
Sunanda K Datta-Ray / New Delhi October 24, 2009, 0:25 IST
The Sensex has added 71 points to 17,536.
The Indian Railways has posted over 6 per cent increase in earnings during the first half of the current financial year and registered a growth of over four per cent in passenger bookings.
The bi-weekly Howrah-Mumbai Duranto Express (2262) began its inaugural run from here today.
At the height of the dot-com boom of the 1990s, several executives at McKinsey & Company, the world’s most prestigious management consulting firm, launched what they called the War for Talent. After extensive research, they concluded that the best companies had leaders who were obsessed with “the talent issue”. They recruited ceaselessly, finding and hiring as many top performers as possible. They singled out and segregated their stars, rewarding them disproportionately, and pushing them into ever more senior positions. The “talent mind-set” became the new orthodoxy of American management — the intellectual justification for why a high premium was placed on degrees from first-tier business schools, and why the compensation packages for top executives had become so lavish.
Reactions to the caste question are fairly predictable in India. The average (upper caste) response is that the policy of reservations has gone on far too long and that discrimination is very much a thing of the past. As to why certain social groups remain extremely poor and backward despite the legal safeguards, the usual explanation is that Dalits are either not well educated or do not have the merit to make it to good jobs.
Concerned over the spiralling food prices, the Reserve Bank has indicated at tightening money supply to contain the rising inflation pressures.
The Nifty remained listless after opening on a positive note on lack of follow-up buying in cash and F&O segments. With traders unwilling to be active at higher levels, the derivatives trading volume dropped significantly by Rs 10,000 crore. The Nifty December futures closed on a par with the spot index and shed 1.24 million shares in open interest (OI), mostly through a blend of buy and sell trades, indicating short-covering and unwinding of long positions. The rollovers in the Nifty January were lower at 0.78 million shares compared to unwinding in the December futures. This indicates that participants are not in a hurry to rollover their positions at the current level.
Auditors Nayak and Kishnadwala, who are doing special audit for telecom major Bharti Airtel, have sought extension from the government by one-and-a-half months to submit the report.
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
In a relief to the Union Civil Aviation Minister Praful Patel, the Bombay High Court has disposed of a bunch of Public interest litigations (PILs) challenging deletion of his name as an accused in an old case involving a company dealing in automobiles.
India may go beyond the purchase of 126 medium multi-role combat aircraft.
Bank of Baroda (BoB), Andhra Bank and Legal & General’s insurance joint Venture, IndiaFirst Life Insurance Co, has received all regulatory approvals for its products, and would launch operations in the second or third week of December, P Nandagopal, chief executive officer, IndiaFirst Life Insurance, said.
Wants to use the aircraft for light cargo purpose in North East region
Hit by economic slowdown and dip in customers repayment capability, ICICI Home Finance Company, subsidiary of ICICI Bank, reported about 3.5 fold growth in its non-performing assets at Rs 161.43 crore at end of September 2009 from Rs 36.03 crore a year ago.
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.
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.
Larsen & Toubro (L&T) has sold a third of its holding in Mahindra Satyam, or 27.24 million shares, for Rs 306.54 crore, taking the software company’s share price down by 6.6 per cent, the biggest fall in five months.
Yen: Why is the yen rising? It might seem that with the U.S. dollar plumbing the zero interest rate depths, pounds printed like decorated toilet paper by the Bank of England, the euro overvalued and the Chinese renminbi inaccessible, the yen is the world’s closest thing to a safe haven.
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.
Enquiry into the helicopter crash in which Andhra Pradesh Chief Minister Y S Rajashekhara Reddy was killed will be completed by this month end, Civil Aviation Minister Praful Patel informed the Lok Sabha today.
Windows 7, Adobe, Symantec software stuck at customs over excise duty
Larsen & Toubro (L&T) has sold a third of its holding in Mahindra Satyam, or 27.24 million shares, for Rs 306.54 crore, taking the software company’s share price down by 6.6 per cent, the biggest fall in five months.
FMCG player Godrej Consumer Products today said it is ready to acquire some of its joint venture partner Sara Lee"s international businesses if the US-based company decides to sell its global assets.
Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods (FMCG) company, showed a consolidated net profit of Rs 93 crore for the quarter ended September, almost three times the Rs 34.7 crore figure posted in the corresponding quarter last financial year.
Fast moving consumer goods (FMCG) companies are likely to register a modest growth for the July-September 2009 quarter on the back of rising consumer demand which is expected to considerably reduce the impact of a disappointing monsoon on sales. Traditionally, summer and winter months make up 30-40 per cent of any FMCG company’s overall sales.
Sunil Jain / New Delhi November 16, 2009, 0:07 IST
Investors today pulled down the stock market benchmark Sensex below 17,000 points-level, as they sold banking, oil and gas and state-run companies’ shares to make profits.
The audit of the grant of telecom licences and allocation of 2G and 3G spectrum by the Comptroller and Auditor General of India (CAG) has taken an interesting turn, with the Department of Telecommunications (DoT) asking CAG to directly communicate with the CBI, as the required documents have already been seized by the investigation agency.
FMCG major ITC, the largest player in the domestic cigarette market, has increased prices of two of its brands, India Kings and Benson & Hedges, by Rs 10 and Rs 5, respectively.
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 first administration of Common Admission Test (CAT), being conducted online for the first time for admission to IIMS today, has been successful, Director IIM-B Pankaj Chandra said.
A large number of academicians, including principals and vice-chancellors of various colleges and universities, met here today to discuss the Yash Pal Committee report on higher education, according to Pankaj Chandra, director of Indian Institute of Management, Bangalore (IIM-B).
HCL Infosystems has seen its profit fall 10.77 per cent. The company has reported a profit of Rs 58.97 crore in the second quarter this financial year as compared to Rs 66.09 crore in the corresponding quarter last financial year.
Shivani Shinde / Mumbai October 16, 2009, 0:39 IST
T N Ninan picks out 10 themes for the coming 10 years.
Sitaram Yechury, the CPI(M) leader, had a tongue-in-cheek explanation for Finance Minister Pranab Mukherjee ripping into Brinda Karat during the discussion on inflation in Parliament. According to Yechury, “The FM was talking about the Wholesale Price Index (WPI) but we were telling him to talk about the Consumer Price Index (CPI) which showed a sharp rise in food prices. As we mentioned CPI, he thought we were talking about the political outfit CPI. That might have angered him.”
State-run hydel power utility NHPC may miss its capacity addition targeted for the 11th Plan by 800 Mw, a senior company official said.
Concerned over high density of population in the cities, Urban Development Minister S Jaipal Reddy today said there was a need to go in for high rise buildings.
India and China are likely to treble the high net worth individuals" (HNI) population and add $4 trillion to its wealth by 2018, leading its growth in the Asia-Pacific region, a report says.
Sanjeev Sanyal / July 15, 2009, 0:41 IST
Tourists will now be able to revisit the country’s colonial past from Kolkata to Varanasi through the 1,280 km cruise on the river Ganga with West Bengal Tourism launching the service from tomorrow.
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.
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.
Agro-chemical and pharma company Astec LifeSciences today said that it has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band.
Not since the dark decade of the 1990s, when the Indian Air Force crashed 177 aircraft — losing 54 young pilots and some Rs 1,000 crore worth of equipment — has the air force faced such a pilot training crisis. The long-delayed Hawk trainers, which began arriving in India in 2007, have improved advanced training for IAF flyers. But the crucial introduction to flying, conducted in antiquated HPT-32 Deepak and HJT-16 Kiran aircraft, is taking a growing toll on pilots’ lives.
The expert committee examining the way financial products are sold, which is chaired by Pension Fund Regulatory and Development Authority Chairman D Swarup, will stick to its earlier proposal of banning payment of upfront commission by insurance policyholders.
The Department of Telecommunications (DoT) wants operators to make their network accessible to Lawful Interception and Monitoring (LIM) for the security agencies after they switch to mobile number portability (MNP) mechanism next month-end. DoT is likely to issue directives soon to all the telecom licencees on putting the subscribers under the LIM even before MNP is activated in the system.
Communications Minister A Raja has learnt it’s better to be safe than sorry. After the EGoM meeting on the 3G spectrum auction, Finance Minister Pranab Mukherjee was surrounded by journalists. He refused to make any comment and then turned towards Raja and said, “Nobody should talk to the press about this meeting.” Even before Mukherjee could finish, Raja waved his hands and said, “Sir, I am not saying anything. I am not saying anything.” A few days ago, Mukherjee had summoned Raja and told him not to talk to the press about the 3G issue and to ensure that no inter-ministerial communication related to the 3G auction was leaked from his office — letters from Mukherjee to Raja and vice versa have all been leaked to the press in recent weeks.
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
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.
National Bank for Agriculture and Rural Development (Nabard) has estimated a credit flow potential of Rs 31,254.74 crore for the priority sector in Karnataka, for 2010-11, an increase of 13.5 per cent over the present year.
Late Andhra Pradesh Chief Minister Y S Rajasekhara Reddy"s brother and MLC Y S Vivekananda Reddy today began an indefinite hunger strike here in support of a united state.
National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 102 crore to Uttar Pradesh under the Rural Infrastructure Development Fund (RIDF).
As the April 2010 deadline for the goods and services tax (GST) inches closer, the empowered group of state finance ministers plans to meet Finance Minister Pranab Mukherjee on January 7 next year to brief him about the progress on preparing a roadmap for GST and sort out the issues.
The Centre today urged the states to import foodgrains through their PSUs to support the public distribution system (PDS) and promised to look into subsidies for such imports.