Management
The Indian economy will recover in the next financial year even as concerns over poor monsoon, drought and fall in exports loom large, a survey says.
GVK Power and Infrastructure (GVKPIL), with interests in power, roads, airport, and aviation, reported a 45.19 per cent increase in net profit to Rs 44.23 crore for the second quarter ended September 30, 2009, as compared with Rs 30.47 crore in the corresponding period last year.
Only the steady tide of readers overflowing into the aisles of the Gulmohar Hall indicated that this was not just another book discussion at the India Habitat Centre in Delhi. Vilayanur Ramachandran’s lecture drew students, fellow neurologists and inquiring readers in such numbers that we could easily have filled the nearby Stein Auditorium.
Higher MAT, depreciation also take their toll, says company
As many as 10 SEZ promoters have approached the Commerce Ministry to pull out from approved projects as they find the going tough due to the slump in demand for commercial space.
Private equity (PE) investments in south India dropped 64 per cent between April and September 2009 to $626 million from $1,752 million during the same period last year. The number of deals too dropped 48 per cent, according to Venture Intelligence, a research service focused on PE and M&A
Private equity (PE) and venture capital (VC) investment in hospitals may surpass that in clinical research and drug manufacturing sectors, as hospitals currently offer more assured returns with lesser risks, is the feeling of informed observers.
Alstom India, a subsidiary of French firm Alstom, is in talks with state-run Bhel and Nuclear Power Corporation of India (NPCIL) to join in as a third partner in their proposed joint-venture.
Alstom India, a subsidiary of French firm Alstom, is in talks with state-run Bhel and Nuclear Power Corporation of India (NPCIL) to join in as a third partner in their proposed joint-venture.
Auto sales numbers for almost all companies in October 2009, are in. With growth ranging between 15-60 % and teamed with impressive quarterly top line and bottom-line growth, the sector is a poster-child for the domestic growth potential.
Aditya Birla Private Equity Fund, which is looking to raise Rs 1,250 crore, has finalised some investments, including 0.5 per cent in the country’s oldest exchange, the Bombay Stock Exchange, said sources close to the development.
Kabir Suman, the maverick singer-cum-MP in Mamata Banerjee’s Trinamool Congress takes politics so seriously he manages to convert even his musical shows into mini-rallies. At his first performance in the capital after he became an MP, Suman chose not to sing his popular songs, and instead sang song to sympathise with the Maoists and slamming the West Bengal government. He also gave short speeches in between the songs. “Whatever I did in life, people said someone else had done it before. But I am the first singer to defeat CPI(M)”. As the winter chill set in on the open air stage, Suman said, “I am sure the CPI(M) is thinking that if I die in the cold there will be a by-election and they can win back the seat. But I will not die so easily.” He did announce though, that he would not contest the Lok Sabha election again.
The week-long political crisis that paralysed the BJP government in Karnataka blew over today following a compromise between the warring sides under which a coordination committee will be formed, a woman minister may be removed and the Speaker inducted into the Cabinet.
Focusing on the education sector, the Uttarakhand government has announced setting up of a National Institute of Technology (NIT) in Pauri district at a cost of Rs 400-Rs 500 crore.
Former Jharkhand Chief Minister Madhu Koda, against whom the Enforcement Directorate and the Income Tax Department are investigating money laundering charges, will not be discharged from hospital today as he had a stomach upset.
L&T’s future looks better with the economy showing signs of revival, higher infrastructure spending and firm crude oil prices.
The Enforcement Directorate (ED) today arrested Vikas Sinha, brother of Binod Kumar Sinha, an associate of former Jharkhand chief minister Madhu Koda, for his alleged involvement in investing and routing Koda"s money through hawala transactions.
To raise Rs 80 crore for working capital requirements
Commercial vehicle maker Ashok Leyland has said it would start delivery of the first 50 ultra low entry (ULE) buses to the Delhi Transport Corporation (DTC) soon as part of its Rs 1,190 crore contract to supply 875 buses this fiscal.
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.
Asian markets have ended in the green today. The Nikkei surged 108 points (1%) to 10,655. The Hang Seng, however, slipped 49 points to 21,823.
Sreelatha Menon / New Delhi December 06, 2009, 0:25 IST
Contrary to expectations that car sales dip in December, auto majors Maruti Suzuki and Hyundai Motor India are poised to grow 30 per cent in sales (the two companies control 72 per cent of the domestic market). General Motors is looking at 70-80 per cent increase in sales.
The consumption of technical textiles, used in the healthcare industry, in India is growing and the industry body Ficci wants the government to provide capital subsidy to the domestic companies to meet the demand.
Finance Minister Pranab Mukherjee said the production of Kharif or summer crop would decline by 15-20 per cent, as 252 districts in 10 states are drought-hit.
Demand removal of ambiguity in the formula before its implementation.
New tax rules on perks need some smart changes in what you claim.
Hyderabad-based vaccines and biotherapeutics manufacturer Bharat Biotech International announced on Wednesday that its anti-staphylococcal molecule Lysostaphin had secured patent rights in US, Europe, China, Australia and other nations.
In a landmark discovery, India’s maiden moon mission Chandrayaan-I has found evidence of water on the lunar surface, a finding that could trigger a serious hunt for life in outer space.
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.
ISRO initially planned to have Russian lander, rover for project.
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.
Leading bankers do not foresee any rise in the interest rates at least for the next six months and want the Reserve Bank of India (RBI) to keep the monetary stance unchanged in its policy review due later in the month.
Reserve Bank Deputy Governor, K C Chakrabarty, today said that rise in bond yields was not a concern for the central bank and yields would come down only if banks cut their deposit rates.
Will Hindustan Unilever"s sales pitch for Lifebuoy around swine flu prevention work?
The UPA government"s austerity measures was dubbed as "tokenism", by BJP leader Yashwant Sinha today.
Will Hindustan Unilever"s sales pitch for Lifebuoy around swine flu prevention work?
Sanjaya Baru / New Delhi December 28, 2009, 0:52 IST
The Supreme Court today upheld an amendment exempting some posts from the purview of the office of profit law that was enacted three years ago in the midst of a controversy in the aftermath of the disqualification of Samajwadi Party MP Jaya Bachchan.
T N Ninan / New Delhi August 29, 2009, 0:12 IST
Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
Private hospitals in Mumbai today agreed to set up isolation wards for treatment of swine-flu affected as government said patients can get admitted to such hospitals once officials found the facilities satisfactory.
Swiss pharmaceuticals company Novartis AG said today it has successfully produced a first batch of swine flu vaccine weeks ahead of expectations.
Swiss pharmaceuticals company Novartis AG said today it has successfully produced a first batch of swine flu vaccine weeks ahead of expectations.
The Obama administration may unveil its India agenda at "Synergies Summit" of the US India Business Council on June 17 when three of its top officials including Secretary of State Hillary Clinton will be present.
Healthcare services provider Zydus Cadila has filed an application before the Drugs Controller General of India (DCGI) for its anti-diabetic drug.
Dr Reddy"s Laboratories (DRL), the second largest drug maker in the country, would invest about Rs 750 crore ($ 150 million) in setting up two special economic zones (SEZs)- one in Visakhapatnam and another in Hyderabad.
The Supreme Court today sought a response from the Centre, Maharashtra government and four real estate developers on Bharat Petroleum Corporation"s (BPCL) plea alleging a security threat to its refinery, Tata Electricity Company"s plant and the Bhaba Atomic Research Centre (BARC).
The Supreme Court has allowed Paradip Port Trust (PPT) to re-invite financial bids for developing a deep draught coal berth at Paradip. However, it asked PPT to keep its decision in abeyance till further orders.
Advance tax collections in the first quarter of fiscal 2009-10 have remained at the same level as last year, at around Rs 23,000 crore. These collections had showed a 20 per cent growth in June 2008.
The slowdown in the economy has resulted in several jobs shrinking and the companies are going slow in recruiting. But there are jobs for the MBA graduates, particularly in sales, FMCG, telecom and consulting areas among others.
Healthcare services provider Zydus Cadila has filed an application before the Drugs Controller General of India (DCGI) for its anti-diabetic drug.
The Audit Committee and Board of Directors of pharmaceutical and biotechnology major, Wockhardt Limited, today appointed BDO Haribhakti as Statutory Auditors of the company from the financial year commencing from January 1, 2009.
There are several ugly faces of fashion: anorexic models who survive on cigarettes and coffee is just one such instance. But, by far the ugliest thing that has happened to Indian fashion is the ongoing fight between the various “bodies”. Two bodies — FFI and the government mandated FDPC — have triumphantly announced that they have now merged and will work for the betterment of fashion. FDCI, the original fashion apex body, continues to stay aloof of this merger and may or may not also merge with FDPC.
Environment Minister Jairam Ramesh neatly turned the tables on the BJP when it attacked the government using the comments made by David Axelrod, a key advisor of US President Barack Obama. Ramesh quipped, “Mr Axelrod is the Arun Jaitley of the Obama Administration.
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.
UN Intergovernmental Panel on Climate Change (IPCC) Chief R K Pachauri today said agreeing to "international consultation and analysis" in the Copenhagen Accord in no way challenges India"s sovereignty.
Andhra Pradesh chief minister K Rosaiah said a meeting of the state Legislative Assembly and Council would specifically be convened to condole the death of former chief minister, Y S Rajasekhara Reddy.
Taking forward the agenda for developing the corporate bond market, the Reserve Bank of India said it initially intends to allow repo transactions in only listed securities like non-convertible debt, debentures and bonds rated AA+ and above.
The Supreme Court will hear Swiss drug maker Novartis AG"s plea against denial of patent for its blood cancer drug, Glivec, next week.
Swiss drugmaker Novartis has begun injecting its swine flu vaccine into people in the company"s first human tests, a spokesman said today.
One of the leading American car makers Ford Motor today posted a second quarter profit of $2.3 billion even as its competitors are fighting hard to survive the global economic turmoil.
Suzlon Energy bagged a repeat order from Gujarat Alkalies & Chemicals (GACL) to set up, operate and maintain a 21 megawatt (Mw) wind energy project in Maliya Miyana in the Rajkot district, Gujarat. The project will comprise of 14 units of Suzlon"s S82-1.5 Mw wind turbines.
As part of its Corporate Social Responsibility (CSR), ArcelorMittal India, planning to set up a 12 million tonne greenfield steel project in Keonjhar district has sponsored 78 young people including 16 girls from its project site villages in Patna tehsil of Keonjhar district for ITI training at Don Bosco, Rourkela.The company has entered into an agreement with Don Bosco, Rourkela for the academic year 2009-2010 and 2009-2011.
India-origin billionaire Lakshmi Mittal-led ArcelorMittal today made an offer to buy an additional 29.4 per cent stake in domestic steel firm Uttam Galva Steel at Rs 120 a share.
The stock ended at its 10% upper circuit of Rs 125. The counter clocked volumes of 1.26 million shares as compared to the two-week daily average traded volumes of 913,935 shares on the BSE. The scrip surged 111% in a month.
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.”
Construction company Gammon India today reported a profit after tax (PAT) of Rs 20.87 crore for the third quarter ended December 2009, whereas the same was at Rs 510 crore a year earlier.
The world"s largest steel maker, ArcelorMittal, today said it would acquire additional 13.8 per cent stake in its Czech arm ArcelorMittal Ostrava for $404.3 million (around Rs 1,900 crore).
Enough has been written about last year’s collapse of insurance giant AIG after it had to make good all the insurance it sold against corporate bond defaults and the fact that the US government bailout happened to help Goldman Sachs, the firm that US Treasury Secretary Hank Paulson once ran. Much less, however, is known about the company’s origins (it was the first reverse MNC, with its headquarters in China), of how it had such tremendous clout it could even threaten governments with US sanctions, or of how in the second World War it allowed US intelligence agency officials to masquerade as journalists of one of the newspapers it owned and collect information against the Japanese.
If you can get past the first dozen pages of this book, you’ll probably keep going. In the very first scene, old-school lefty journalist Ian wakes up to BBC Radio’s breakfast news talk show hosted by James Naughtie and John Humphrys — during which Gideon Crawford, the secretary of state for Scotland, will face tough questioning over the government’s approach to the forthcoming elections to the Scottish Parliament, at which the Scottish Nationalists will take on the ruling Labour Party, in power in Westminster after many years and with a sizeable majority, thanks to their young and dashing new PM, Harry White, whose obituary Ian must go to work today and bring up to date, just in case...
In its hope to see electric two-wheeler sales rising in Gujarat, Chennai-based BSA Motors, a business unit of Tube Investments of India (TII), part of the Rs 15,646 crore Murugappa Group, has submitted a memorandum with the state government seeking eight per cent waiver in road tax, reduction in VAT as well as provision of subsidy for the products. Once implemented, BSA Motors hopes to achieve 15 per cent of its total sales target from Gujarat.
Watch the forthcoming Saffronart auction to decide which segment of the market is recovering fastest and at what value.
The New Year brought the happy news that exports showed positive growth of 18 per cent in November 2009. The coming decade promises to bring more exciting news.
Newly-inducted Karnataka minister for excise M P Renukacharya today said that government was well on its way of meeting its excise collection target of Rs 7,000 crore for financial year 2009-2010.
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.
Even as the Telangana Sadhana Joint Action Committee (JAC) is all set to enforce a bandh tomorrow pressing for a separate statehood to Telangana, the students at Osmania University have ‘urged’ the people to boycott New Year celebrations in support of separate state.
P B Jayakumar / Mumbai September 25, 2009, 0:10 IST
State-run Bharat Petroleum Corporation (BPCL) has posted a 62-fold increase in net profit of Rs 3,628 crore during the quarter ended March 2009 against Rs 58.4 crore in the year-ago period. The rise came on the back of higher oil bonds received and over-recovery on sale of fuel products.
Anil Dhirubhai Ambani Group"s financial services arm, Reliance Capital, today said it would acquire a controlling stake in brokerage and equity research company Quant Capital, but did not disclose the financial details of the deal.
Russian gas exports dropped by 37.7 per cent to 69.5 billion cubic meters in January-July 2009, as compared to the previous year, the Federal Customs Service has said.
The government today requested the Supreme Court Bench adjudicating the gas dispute between Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL) to avoid making any interpretation of the production sharing contract (PSC).
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.
The current power crisis in Orissa, which was a power surplus state till a few months back, is the fallout of the lapses of the officials of the state energy department, according to the Anti Corruption Youth Forum (ACYF).
The Orissa government has made it clear that mining of bauxite in the Niyamgiri hills in Kalahandi district will not be allowed till all the statutory clearances are obtained.
Vedanta Group company Sterlite Energy is believed to have bagged the country"s first Ultra Mega Power Transmission (UMTP) project, breaking the decades-old monopoly of state-run PowerGrid Corporation.
Tata Motors has started distribution of its Prima range of World Trucks, unveiled in May. The first product, the Prima 4028 S, is a 40-tonne 266-PS (Cummins ISBE engine) tractor with a 9-speed ZF transmission, a matching trailer with new generation brakes, ABS and specialised axles for heavy-duty and high-speed application. The tractor’s air-conditioned cabin includes reclining seats, adjustable steering wheels and arm rests for driver comfort. It has got sleepers to facilitate long-distance travel.
Wipro Limited, backed by increases in price realisation, utilisation and fixed price contracts at its flagship IT services business, posted a 19 per cent increase in its net profit to Rs 1,162 crore for the second quarter ended September 30, 2009 as compared to the corresponding quarter of the previous financial year.
Reliance Communications today said it has bagged contracts to develop telecom infrastructure in Kerala, Mumbai and Maharashtra circles.
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.
With an aim to rope in a strategic partner for its Haryana SEZ project, corporate giant Reliance Industries is believed to be in talks with IL&FS and a couple of other players for part-sale of its stake.
Notwithstanding the government"s assertion that it has no immediate plan to import rice, it is understood to be in talks with a few rice-surplus countries to source the grain through the state channels.
Jindal Steel & Power (JSPL) today said its consolidated net profit declined by 3.20 per cent to Rs 874.35 crore for the third quarter ended December 31, compared to the same period corresponding fiscal.
After hitting a 13-month high in October, external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) issued by Indian companies dipped slightly to $2.35 billion.
The stock settled 10% higher at Rs 59 and witnessed trades of 240 lakh shares on the BSE.
Orchid Chemicals & Pharmaceuticals reported a net loss of Rs 13.20 crore for the quarter ending on September 30, 2009 as compared to Rs 40.66 crore loss last year.
Telangana Rashtra Samiti (TRS) chief K Chandrasekhar Rao today met Union Home Minister P Chidambaram and discussed the issue of a separate Telangana.
The head of the International Monetary Fund (IMF) warned today against excessive capital inflow in some Asian countries although he said the IMF sees no imminent threat of asset price bubbles.
The manufacturing sector in December climbed to its highest level since May 2009, signalling a faster monthly improvement in the key economic activity, an HSBC survey said today.
Chief minister B S Yeddyurappa has said that H D Deve Gowda has no locus standi to criticise the Bangalore-Mysore Infrastructure Corridor (BMIC) project as it was he as chief minister who had cleared allotment of land at a lower price and had even signed an agreement accepting the clause that courts in London would have jurisdiction on dispute redressal.
Business Standard / New Delhi January 15, 2010, 0:19 IST
Chinese auto component manufacturers are quietly making inroads into India. Over 100-odd companies, ranging from the largest truck engine manufacturer FAW Group, to medium-sized players like gear-box maker Weichai Power, are at the 10th Auto Expo in Delhi showcasing their products to the local commercial vehicle manufacturers.
Mahua’s success has spawned a host of Bhojpuri shows on Hindi television
Shobhana Subramanian / Mumbai December 15, 2009, 0:08 IST
The government today said it does not intend to increase borrowing target for the current fiscal 2009-10, which has been pegged at Rs 4.51 lakh crore.
LG Electronics, the global manufacturer and marketer of consumer electronics and home appliances, today opened one brand showroom ‘LG Shoppe’ at Samantarapur in Bhubaneswar. Arvind Kumar, the branch head of Orissa, inaugurated the premium brand showroom.
Hungry for growth, companies such as Godrej Appliances and LG Electronics are set to debut in the sub-Rs-7,000 refrigerator range.
IN MY MIND
AV Rajwade / New Delhi December 21, 2009, 0:43 IST
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.
Tata Group firm, Voltas today said its non-executive independent director S D Kulkarni has retired from the board of the company.
India’s foreign minister today advised its students to be “more discreet” in choosing educational institutes and courses of study in Australia, whose high commissioner admitted there was a drop in applications of Indian students following media coverage of attacks on them.
The government today said though the exports affected by the global slowdown are hovering in the negative zone, the slide has slowed.
Record gold prices took the shine off gems and jewellery exports, which fell 8 per cent to $2.11 billion (Rs 9,878 crore) in October compared to the same period last year.
Gold prices fell by Rs 280 to Rs 18,270 per ten gram in the bullion market today on emergence of widespread selling by stockists in the face of a weakening global trend.
Ohio Governor Ted Strickland is quick to admit that he doesn’t “particularly enjoy heights”. So why would he climb into a cherry picker to be lifted 40 feet in the air?
The country"s largest car manufacturer, Maruti Suzuki India, is expecting a double digit growth over the next few months.
The Institute of Company Secretaries of India (ICSI) and Aptech have entered into an exclusive tie-up to impart quality IT training to ICSI students and members across India.
The Ministry of Finance has assured the Planning Commission of at least 15 per cent increase in gross budgetary support (GBS) for 2010-11, over the 2009-10 budget estimates.
Tata Communications, a leading provider of a new world of communications, announced that India-based NDTV Convergence has chosen its LiveBroadcast service, a high-quality, flash-based streaming service, to broadcast three national channels in India — two news and one business — over the internet to a global audience.
What do Cannan Partners and Indian Institute of Management-Ahmedabad have in common? They have both appointed an entrepreneur-in-residence (EIR).
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.
Indian-American Anil Kumar, former director of consulting firm McKinsey, has pleaded guilty to fraud charges in one of the largest insider trading cases in US" history, admitting that he got $1 million for giving secret information to its alleged ringleader Raj Rajaratnam.
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.
The Life Insurance industry paid 20.74 per cent higher death benefit to its policy holders at Rs 1,717 crore during the first quarter of the current fiscal.
Mukesh Ambani, who heads India"s most valuable company Reliance Industries (RIL), has been ranked among top five best performing CEOs in the world by the prestigious Harvard Business Review.
Funds will have to launch products tailor-made for semi-urban, rural markets.
The government today expressed confidence that exports, which have been falling for over a year now due to the global slowdown, would grow by 15 per cent next fiscal and the pace of decline has already been arrested.
T E Narasimhan / December 11, 2009, 0:39 IST
Industry body FICCI today sought more fiscal sops in the 2010-11 budget to prop up the economy.
I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete?
The steel ministry is planning to set up a special arm under Steel Authority of India (SAIL) to spearhead overseas acquisitions, particularly in the mining sector.
The industrial sector in Chhattisgarh government termed 2009 as good while the investors said it was bad.
The Bombay Stock Exchange, the National Stock Exchange and bullion market are closed today on account of "New Year" holiday.
Delhi-based businessman Sanjay Dalmia and Indiabulls Financial Services (IFS) have arrived at an out-of-the-court settlement to their legal dispute, the Bombay High Court was informed today.
The New Year may bring challenges for distributors of financial products who had found solace in unit-linked insurance products (Ulips) after the Securities and Exchange Board of India (Sebi) had banned entry load on mutual fund instruments from August this year.
The RBI clarification, issued on December 1, 2009, has allowed banks to include technical or prudential write-offs for calculating provision coverage for non-performing assets (NPAs) - mandated to be at a minimum of 70% by September 10. This has triggered a relief rally in bank stocks with reasonably higher NPAs or low provisioning which were underperforming the BSE Bankex (see Prodigal returns).
JSW Steel plans to abandon its coal mining project in Mozambique because of higher than expected ash content in the coking coal.
Tie-ups with international retailers and brands, emphasis on profitable growth and increased focus on private labels are set to be key trends in the Indian retail sector in 2010, say retailers and consultants Business Standard spoke to.
Those who seized the opportunity and made a difference.
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 Pantaloon Retail India Ltd (PRIL) will hive-off its value segments--Big Bazaar and Food Bazaar-- into a separate company called Future Value Retail from January 1.
The stock managed to erase all its losses and rebounded into the positive zone to touched a high of Rs 247.The scrip finally flat settled at Rs 237, up 0.42%. Around 44,483 shares were traded today as compared to 27,649 shares.
T N Ninan / New Delhi November 14, 2009, 1:01 IST
Palak Shah / Mumbai December 29, 2009, 0:02 IST
Healthcare major Zydus Cadila has bought the remaining 30 per cent stake in South Africa-based Simayla Pharmaceuticals for an undisclosed sum, making it a 100 per cent subsidiary of the group.
The market as expected drifted lower after giving a downward breakout. It may test further lows before bouncing back.
Markets have once again slipped into the negative zone. The Sensex is weak and is now down 68 points at 16,285.
After a quick dash towards the 17,500 level in the Diwali week, markets this week retraced most of their gains owing to profit-booking.
Hatoyama is the first Japanese PM to visit Mumbai in 25 years.
The Indian bourses ended in the green, aided by rising FMCG, oil and public sector undertakings’ (PSUs) stocks.
As part of its special audit on selected companies, the Department of Telecommunications (DoT) has told Bharti Airtel to provide all required information to the auditor by December 14.
The much-awaited 3G spectrum auction will be delayed beyond the scheduled date of January 14 due to uncertainty over the available spectrum and the number of slots to be put up for bidding.
The government today approved road projects worth Rs 6,152 crore in five states for upgrading nearly 562 km of four-lane highways into six lanes.
Pharma companies in Andhra Pradesh say they are losing heavily due to the Telengana unrest in the State.
Also considering selling some of its third-party products.
The market capitalisation of 48 PSUs have spurted by a whopping Rs 1.89 lakh crore in the past five trading sessions, with these state-run companies suddenly turning investors" darling.
China"s oil demand and growth may be making headlines, but the world"s fifth-largest crude oil producer is undergoing decelerating growth in oil consumption and is more a price taker than a price driver, says a new report.
Groundnut has witnessed a turnaround in consumption pattern — from a major oilseed for premium class consumers to a preferred choice for direct users. Direct consumption of groundnut doubled to 60 per cent of its total production, from 30 per cent three years ago.
EdServ Softsystems (EdServ), a Chennai-based education and placement company, is planning to raise $25 million (around Rs 115 crore) either through a GDR (global depositary receipt) or an FCCB (foreign currency convertible bond) issue by the first quarter of the next financial year.
The country"s most valued firm Reliance Industries (RIL) helped eight of the top-10 Sensex firms add over Rs 1 lakh crore in their market valuation during the last week, while the state-run MMTC and private telecom services provider Bharti Airtel saw value erosion.
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).
Lower than expected refining margins have dragged down the company"s profits.
Viceroy Hotels Limited, a city-based hospitality player, is planning to raise an amount of up to $15 million (approximately Rs 70 crore) through a qualified institutional placement (QIP) of equity shares not exceeding 10 million of Rs 10 each at a premium.
US fund house TIAA-CREF has exited Oil and Natural Gas Corp (ONGC) and other Chinese energy firms over their investments in war-torn Sudan, but the Indian company said its operations did not support suppressive activities anywhere in the world.
IndiaFirst Life Insurance has received regulatory approval to launch three products and expects to commence its operations by the month-end, a senior official said.
Mahindra Satyam, the new brand identity of Satyam Computer Services, a leading global consulting and IT services provider, has selected Malaysia to kick off international expansion - enlarged its global solution center operations in 15 acre campus in Cyberjaya, the company said in a BSE filing.