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Reliance Life Insurance has launched 17 new unit-linked plans to cater to individuals of all age groups.
To also discuss Swarup panel’s suggestions on financial stability.
The company faced solvency margin issues recently.
The 13th Finance Commission today submitted its report to President Pratibha Patil on devolution of central tax receipts between the Union and the state governments.
Implementation of the landmark civil nuclear deal, the situation in Pakistan and terrorism emanating from there would be high on the agenda as Prime Minister Manmohan Singh and President Barack Obama meet here tomorrow for talks during which they are expected to give a major push to the Indo-US strategic ties.
Aiming to break even in the next three years, ING Life is targeting a 15 per cent increase in its new business premiums, a top company official today said.
State-run National Aluminium Company (Nalco) today increased prices of aluminium by Rs 3,500 a tonne, a second hike for the prevailing month, citing improvement in the metals rate at the London Metal Exchange (LME).
Scale has always fascinated Paresh Maity, but now he’s experimenting with newer genres in paintings and sculpture.
Raju and associates ‘forged board resolutions’ to secure loans.
The Securities and Exchange Board of India’s (Sebi’s) move to ban entry load on mutual funds (MFs), in spite of being an investor-friendly step, has created a problem for smaller investors.
Global steel giant ArcelorMittal today said it has raised $750 million (Rs 3,500 crore) through issue of convertible bonds by its wholly-owned arm based here.
The government today asserted in the Supreme Court that any suitable arrangement between the Ambani brothers for the supply of gas from K G Basin has to be approved by it keeping the national interest paramount.
Mukesh Ambani group firm Reliance Industries (RIL) today told the Supreme Court that its directors have filed the affidavits in the gas row to counter Anil Ambani"s contention that the family MoU was approved by the RIL board.
The Department of Telecom (DoT) is planning to refer the alleged violation in the substantial equity condition by Loop Telecom and Vodafone-Essar by virtue of the Essar group companies holding equity in both the companies to the Ministry of Corporate Affairs (MCA) once again.
The first phase of the Naveen Jindal-promoted Jindal Steel and Power Ltd (JSPL)’s proposed 6 million tonne per annum (mtpa) steel project and 1000 Mw power plant at Angul in Orissa is expected to be commissioned in 2011-12.
Move to be part of a global expansion plan
In a major move to check air pollution, the government today revised its norms, putting in place uniform standards for residential and industrial areas.
The government has deferred a decision on Pepsico India Holding"s proposal to invest $200 million (about Rs 930 crore) in the next three years.
Congress MP L Rajagopal, who had threatened to go on an indefinite hunger strike to oppose division of Andhra Pradesh, today began his fast here.
Complaining of high taxation and inability to lobby effectively before government agencies, Direct-to-Home (DTH) television companies have called for strengthening the DTH Operators Association of India (DOAI), the apex body of all DTH operators.
Dish Tv India, an Essel Group Company, reported a net loss of Rs 69.2 crore for the quarter ended June 30. 2009. Its net sales have gone up from Rs 246.3 crore from Rs 164.5 crore.
Tata Group Chief Ratan Tata today termed the buyout of Jaguar and Land Rover (JLR) as a "terrific decision" and hoped to bring back glory for the luxury brands.
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.
The stock gained 5 per cent to Rs 233, after the foreign institutional investors purchased 1.12 per cent stake in the company from open market for Rs 7.08 crore.
The government today admitted its failure in dealing with the losses suffered by tribals in land acquisition for various projects, but said one solution was that tribals must benefit from the projects for which they had been displaced.
Allows inclusion of technical write-offs while calculating provision coverage ratio.
The Punjab government would soon announce its new Agro Industrial Policy-2009 which would be implemented through its nodal agency – Punjab Agro Industries Corporation Ltd (PAIC) to achieve the goal of rapid industrialisation in the field of agriculture and agro-processing.
The government today said there is a need to enhance investment in the agriculture sector to achieve 4 per cent growth during 11th Five Year Plan.
The much awaited Pune Metro rail project has inched forward with the civic body approving the Detailed Project Report (DPR) to be forwarded to Maharashtra and Central government for its clearance.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.
The consolidated net profit of fast moving consumer goods company Dabur India increased 27.04 per cent in the quarter ending December 31, 2009. It stood at Rs 137.77 crore in the third quarter against Rs 108.45 crore in the corresponding period a year ago. Net sales, on the other hand, saw a slower pace of growth, moving up 18.25 per cent only, to touch Rs 926.18 crore in the third quarter against Rs 778.65 crore in the corresponding period last year.
May look at VRS later
Decrease in fuel prices in the Mumbai licence area pulled down Tata Power"s revenues in Q1 FY10 to Rs 2,015.62 crore as against Rs 2,026.13 crore.
Whirpool of India, a leading home appliance company, reported its quarterly earnings with an growth of 13.1 per cent in the first quarter of financial year 2009-2010.
A minority shareholder of Golden Tobacco Pramod Jain, who has made an open offer for additional 25 per cent stake in the firm, today said he will seek court injunction against holding extra-ordinary general meeting (EGM) on January 18.
Foreign institutional investors (FIIs) were net buyers of Rs 516.10 crore (provisional) today, according to data released by BSE.
The Men in Blue haven’t quite got a thumbs up from advertisers for the team’s sponsorship, with virtually no takers for forms that are up for sale to bid for the sponsorship of the Indian cricket team till this evening. Sale of forms closed today and tomorrow is the last date for bids.
Following reports that the cigarettes-to-hospitality major, ITC, could make a hostile bid to increase its stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C Deveshwar today asserted that his company could even raise its stake up to 25 per cent in EIH.
Port and Dock workers’ unions call for a nationwide strike after December 15 to protest at lack of wage revision may be averted, as the port authorities have expressed willingness to hold talks before the end of this month.
Raj Rajaratnam, the billionaire hedge-fund manager accused of insider trading, started an investment firm in 2006 with partners including Rajat Gupta, former head of McKinsey & Co, and Mark Schwartz, ex-chairman of Goldman Sachs Group Inc’s Asia business.
Tata Docomo, the GSM mobile service of Tata Teleservices, has extended its per-second billing plan to roaming services. Its subscribers would be charged one paisa per second for outgoing and incoming calls while roaming, effective tomorrow.
Displays no eagerness on DoT suggestion to retender.
State-run telecom operator Bharat Sanchar Nigam (BSNL) today said it has placed purchase order for mobile equipment for 20 million GSM lines for the south zone with Chinese firm Huawei and will not call for any fresh bids.
Private sector power producer JSW Energy has fixed the issue price of its public offer at Rs 100 per share, at the lower end of its price band.
Singapore"s leading telecom firm SingTel today said contribution of Bharti Airtel, in which the company holds nearly 32 per cent stake, to its profit rose by 26 per cent to 236 million Singapore dollars (around $170 million) for the July-September quarter.
The stock jumped 11 per cent to Rs 50.65, after the government approved a proposal under which the telecom equipment manufacturer will continue to get orders for 30 per cent of the product requirement of BSNL and MTNL.
Famed micro-blogging site Twitter has acquired location tracking firm Mixer Labs for an undisclosed amount.
Among all the political parties in Jharkhand, former chief minister Babulal Marandi"s Jharkhand Vikash Morcha (Prajatantrik) scored the highest winning percentage.
The stock erased all its gains and slipped to a low of Rs 256. The scrip finally ended at Rs 259, down 1% from its previous close. The counter clocked volumes of 344,566 shares as compared to the two-week daily average traded volumes of 145,286 shares on the BSE.
YouTube movies: Google is taking YouTube to Hollywood. The film business might help address the internet video site’s biggest problem – it loses money. Sure, it generates huge amounts of traffic. But it costs serious money to set up and run the server-farms that allow anyone anywhere to watch that adorable cat play the piano. And advertising revenues have been in short supply.
To really understand the power of execution, you need to be in the East Stand of Mumbai’s Wankhede stadium, when India is playing an opponent like Australia in a one day international. Every time Sachin Tendulkar touches the ball, an electric current passes through 60,000 spectators who let out a humungous roar of excitement. It is a zing that almost physically tries to reach out and touch this diminutive teacher’s son. A man who realizes a million dreams as he sends the ball scorching across the ropes.
French governance:  The press release reads like a statement from the politburo of a Soviet-era communist dictatorship: the ruling elite’s decision to back the great leader was “unanimousâ€ь. That’s the way it goes at Veolia, where directors of the French environment services group have bowed down to the wishes of the chairman and chief executive, Henri Proglio.
IT company HCL Infosystems today said it will raise funds to the tune of Rs 847 crore by private placement of shares with qualified buyers and issuing warrants.
In a bid to attract subscribers of rival companies, state-run telecom operator Bharat Sanchar Nigam (BSNL) is gearing up to start mobile number portability (MNP) services as soon as telecom regulator Trai issues tariff structure.
Industry experts and surveillance equipment vendors agree the government has woken up but insist there should be more action.
Bollywood actor Aamir Khan and actress Katrina Kaif are the most downloaded celebrities by Indian mobiles users, a new survey says.
This year"s computerised Common Admission Test (CAT), which was marred by technical glitches, will not be scrapped, the exam committee announced today.
2009 saw a high-voltage legal battle between the Ambani brothers over the gas dispute reaching the Supreme Court with a judge withdrawing from the bench.
Business Standard / New Delhi December 03, 2009, 1:34 IST
Anil Ambani-led Reliance Natural Resources (RNRL) today asserted in the Supreme Court that family MoU of 2005 was a "sacrosanct" document for resolving the gas row with Mukesh Ambani group Reliance Industries (RIL) and accused it of scuttling efforts to arrive at a bankable agreement for the supply of gas from KG Basin.
India Inc"s overseas shopping spree has dipped to a four-year low of $27.3 billion so far this year, but a possible acquisition of LyondellBasell by Reliance Industries (RIL) would be one of the largest ever by an Indian company, according to deal tracking firm Dealogic.
Defence PSU Bharat Electronics, which is restructuring its businesses, is planning to enter the nuclear power space, designing and manufacturing instruments.
State-owned defence and aerospace company Hindustan Aeronautics Ltd (HAL) said today that it was not trying to monopolise the aerospace sector in the country.
Apart from a new brand ambassador, the apparel maker has gone in for aggressive store expansionProvogue has done it again. It has switched its brand ambassador, this time from Saif Ali Khan to Hrithik Roshan, for its new campaign. The brand needed the buzz as much for its new line as for ensuring that its aggressive store expansion drive matches the growth of curious consumers.
The government today said that China has denied reports suggesting it was planning to divert the course of the Brahmaputra river.
With entry load on all mutual funds banned from August 1, fund houses are finding different ways to pay distributors for promoting their schemes.
The Reserve Bank of India (RBI) today allyed concerns about capital inflows building an asset bubble and said it is keeping a vigil on these.
Though I have been an avid consumer of all sorts of media, I never seriously looked at them from a child’s perspective. Now, with a five- month baby who is fascinated by any screen or newspaper, I have started wondering about his media choices as he grows up. Currently all he thinks of is eating the newspaper or the screen. But eventually these will form the fodder for his mind, as all media does. So what is the appropriate age for him to watch TV? What should he watch? When can he watch films, what kind of films, what books should one allow him to read?
Mobile telephone subscribers would have to wait a little longer to change their service provider without changing their numbers. The introduction of mobile number portability (MNP) across the country would be delayed by about two to three months, as some of the operators are not ready, said a senior official of the Telecom Regulatory Authority of India (Trai).
Defending BSNL"s massive loss in market share to just 16.71 per cent now from over 31 per cent in 2006-07, the government today said it was mainly due to fierce competition and not due to managerial reasons.
Companies knocking on government doors for bailout funds may have been the norm in the West, but India Inc begged to differ from this rule by raising over Rs 1,50,000 crore of capital for expansion from investors across the world in 2009.
At a time when deal flows in private equity remains muted, structured deals are being seen as the most prominent form of deal making, going forward.
Jet Airways restructuring exercised started last year resulted in a 33 per cent increase in its domestic passenger traffic last month as compared to November 2008. The airlines international passenger traffic also registered a 19 per cent growth on a seat factor of 81.9 per cent.
Companies plan to benefit from the high inflow of foreign funds.
Having failed to get returns on its Rs 100-crore investment in Bharti Hexacom, state-run TCIL today started the process to sell its 30 per cent stake in the JV by inviting investment bankers to work out the valuation.
CEO seeks changes in regulatory regime
CEO seeks changes in regulatory regime
The government has said that the Securities and Exchange Board of India (Sebi) was empowered to take action against Reliance Industries (RIL) if a probe established irregularities in share allotment by the company in 2000, and wanted to know what exactly the market regulator expected from it.
Prime Minister Manmohan Singh may deliberate on freeing auto fuel prices when he reviews the financial health of state-run oil firms with Finance Minister Pranab Mukherjee and Oil Minister Murli Deora on January 13.
Indian steel tycoon Lakshmi N Mittal will get a 1 billion pound windfall from a European scheme to curb global warming under the "carbon credits" given to it.
Public sector lender Punjab National Bank (PNB) today said it will raise Rs 700 crore by issues of bonds.
Bharati Shipyard and ABG Shipyard have got the market regulator’s nod for their open offer bids to buy additional stake in Great Offshore.
Crisis-hit Maytas Infra today said the Company Law Board (CLB) had allowed the company to report its accounts for the quarter ended September by December 31.
Reliance Industries (RIL), today said the bonus shares allotted by the company last month have been listed on stock exchanges and will be traded from tomorrow.
The Railway Board is likely to utilise the undisputed 600 acres for setting-up a coach factory at Singur, the erstwhile site for the Nano project.
Janta Roadways, a Chennai-based logistics services provider in the car transportation segment, launched its luxury taxi service in the city on Tuesday. The service will cover Greater Chennai, which includes Sriperumbudur.
The government may issue Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) Rs 10,300 crore worth of oil bonds this week to compensate these companies for the losses they have incurred on fuel sales in last fiscal.
Persistent Systems, providing software product development services, set up a Centre of Excellence (CoE) around the Android open mobile platform.
UTI Mutual Fund would revise the exit load for 18 schemes from Monday, the fund house said on Friday, amending the scheme’s offer document.
The country"s largest coal miner Coal India (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
The state-run Rural Electrification Corporation (REC), which finances rural power projects in the country, is keen to pick up 26 per cent stake in coal mines and merchant power plants.
Haldia Petrochemicals may get Rs 310 crore insurance claim for a fire that engulfed a part of the mother plant on July 2 this year.
Drug maker Jubilant Organosys today said it has earmarked Rs 250 crore for its capacity expansion plans in the current fiscal.
Business Standard / New Delhi July 3, 2009, 0:54 IST
Exclusive talks between Essar Oil and Royal Dutch Shell over the sale of three European refineries — Heide and Harburg in Germany and Stanlow in Britain — will continue for an unspecified period beyond today’s earlier deadline, Essar Oil said in an emailed statement.
State-run Oil and Natural Gas Corp (ONGC) has bowed to the diktat of the Petroleum Ministry and approved higher investment in Cairn India"s Rajasthan oilfields.
In the final interview in the current series of Smart Portfolios, Phani Sekhar, fund manager, PMS, Angel broking talks about his investing strategy, sectors he is bullish on and how investors should approach the market.
Private oil firms, Reliance Industries and Essar, along with Royal Dutch Shell, today pitched for freeing of petrol and diesel prices to give consumers a choice.
With global oil rates stabilising at around $70-80, Reliance Industries, Essar Oil and Royal Dutch/Shell today joined the chorus for freeing petrol and diesel prices to give private sector a level playing field as also lower government"s subsidy burden.
Shyamal Majumdar’s “Game Changers” (Dec 28) did a good job talking of the Indians who have changed the last decade, and predictably the list begins with Prime Minister Manmohan Singh and contains the Ambani brothers, LN Mittal and even golden oldies like Amitabh Bachchan. Majumdar’s list, however, is incomplete without mentioning people such as E Sreedharan, the chief of the Delhi Metro Rail Corporation (DMRC). At a time when everyone associated the public sector with poorly executed projects, Sreedharan proved them wrong and gave the Capital a world-class Metro that is the envy of many. All of this, it is important to keep in mind, was executed within the government system as well as with public sector salaries.
Air India (AI) may review its ground handling joint venture agreement with Singapore Air Terminal Services (SATS) if the latter diluted its stake to another firm in that country, sources said.
Normal life was paralysed for the second consecutive day in Telangana as violent demonstrations rocked the region in support of the Telangana Rashtra Samithi (TRS) president, K Chandrasekhar Rao, whose fast-unto-death entered ninth day on Monday.
The first elections to the Greater Municipal Corporation of Hyderabad, formed by merging 12 surrounding municipalities in April 2007, ended on a peaceful note and polled 42 per cent. Counting will be held on November 26.
Within a gap of seven hours, two high-profile but diametrically opposite campaigns in this city set the tone for the coming Maharashtra Assembly elections. While Congress President Sonia Gandhi pitched for an inclusive growth with greater emphasis on poorer and backward section, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray’s high-decibel slogans catered only for the ‘Marathi issue’.
Aditi Phadnis / New Delhi August 22, 2009, 0:00 IST
About 200,000 Indians will be affected due to the Dubai crisis wherein real estate and construction sectors have taken a major hit, according to Associated Chambers of Commerce and Industry of India (Assocham) past president Anil K Agarwal.
The US-software major Cognizant Technology Solutions today offered job offers for 700 students from Anna University. Last year the company offered 1,000 jobs and 500 a year before.
GAIL
IT, consulting and business process outsourcing services company, Cognizant Technology Solutions, on Wednesday signed an initial five-year, multi-million contract with UK-based railway control and communications systems provider Invensys Rail to serve the global product research and development (R&D) needs of its group companies located in the UK, Australia, Spain and the US.
Nasdaq listed IT company Cognizant Technology Solutions Corp today announced the acquisition of Pepperweed Advisors, the IT consulting services division of US-based Pepperweed Consulting, for an undisclosed sum.
The Pension Fund Regulatory Development Authority (PFRDA) is taking ing various measures to increase the number of subscribers under its New Pension Scheme (NPS). It is in discussions with the General Insurance Council, various industry bodies and companies to offer the plan to their employees. Under the recent deal between the Indian Banks’ Association (IBA) and the pension regulator, all new recruits of banks will join the defined contribution system from April 1, 2010. Already 20 nationalised and 12 private sector banks have joined the new system.
A three-member team of United States Securities and Exchange Commission (SEC), America"s federal agency to regulate the securities industry in that country, exchanged information with the CBI probing into the multi-crore accounting scam at Satyam Computer here.
The insurance sector is making a strong comeback. Buoyed by a steep rise in sale of single premium policies, the industry clocked a 53.25 per cent rise in November.
The cabin crew of Alliance Airlines will not be terminated though its Boeing aircraft will be used as freighters, Civil Aviation Minister Praful Patel informed Rajya Sabha today.
“What does the consumer want? What does the market want?”
Surjit S Bhalla / New Delhi December 26, 2009, 0:41 IST
The government today said the postal department is expected to have a deficit of Rs 5,632.46 crore in the current fiscal, which has increased substantially over the past few years following implementation of the Sixth Pay Commission recommendations.
In what may become a revolution in entertainment, accessing television via cable, IPTV or interactive DTH services is soon going to be via wireless, on the lines of a wi-fi internet connectivity.
Huawei, Samsung, Alcatel-Lucent, Hitachi may also bid.
Deutsche Postbank Home Finance, a 100 per cent MNC housing finance company, has posted 28.77 per cent rise in net profit at Rs 30.16 crore during the first half year ended September 30, 2009 as compared to Rs 23.42 crore in the corresponding period last year.
Direct-to-home service provider Dish TV today reported a net loss of Rs 56.13 crore for the second quarter ended September, narrowing down from its loss of Rs 154.11 crore of the year ago period.
Shyam Ponappa / New Delhi November 5, 2009, 0:50 IST
Despite being in the Opposition in West Bengal, Trinamool Congress chief and Railway Minister Mamata Banerjee is ‘setting’ the agenda for the state government.
It was not a smooth ride in 2009 for the Railways which was hit by accidents, derailments and hijacking of the prestigious Rajdhani train.
The government will take a considerate view of the telecom regulator Trai"s proposal to bill customers based on per second usage instead of the prevailing pulse system, Minister of State for Communications and IT Sachin Pilot today said.
ADANI POWER
Police are on the lookout for Congress MP L Rajagopal, who escaped from a city hospital where he was admitted after being brought from a hunger strike site over the Telangana issue.
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.
At a time when cities are looking at improving transport and residential properties for urban development, the Asian Planning Schools" Association (APSA) concluded on the first day of its 10th International Congress held at Centre for Environment Planning and Technology (CEPT) University that the key lies in reducing number of slums as well.
You have to rub your eyes hard to believe the Tata Prima and Mahindra Navistar trucks can rival the best that Mercedes-Benz, Volvo and Scania have to offer. Their stylish cabs, with the multitude of buttons and gizmos and quality fittings, make you feel you are in a European truck. But then again, both have been developed by Indian manufacturers to rival the best the world has to offer and beat these in markets outside India as well.
The Asian markets succumbed to selling pressure to end on the lower side.
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.
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?
A host of Indian companies are planning to develop projects across sectors in the island nation of Sri Lanka.
The Indian Space Research Organisation (Isro) and US space agency Nasa should deploy surface robotic penetrator in "Chandrayaan-II" mission to study more about the presence of water molecules on moon, former President APJ Abdul Kalam has suggested.
Nine MLAs and an MP from Andhra Pradesh are among 21 protestors taken into preventive custody today when about 100 activists gathered at high-security North Block violating prohibitory orders, as a meeting on Telengana issue was being held in the Home Ministry.
Normal life was disrupted in non-Telangana regions of Andhra Pradesh, as the bandh called by the All party Joint Action Committee (JAC) in support of United Andhra Pradesh began today.
A new body seeks to integrate scattered R&D to meet the needs of a growing export and domestic market.
Andhra Pradesh will soon evolve a policy to encourage the solar energy industry. This will complement the to-be- announced Jawaharlal Nehru National Solar Mission, a dedicated national policy for solar energy that outlines 20 giga watt of solar generation by 2020, said chief minister K Rosaiah.
MLAs of Punjab’s ruling Akali Dal and Opposition Congress on Tuesday entered into a scuffle in the Assembly over the recent violence in Ludhiana. The scuffle started when Congress legislators moved towards deputy chief minister and home minister Sukhbir Singh Badal when he was replying to a call-attention motion on the state’s law and order situation.
A group of Muslim MLAs of the Samajwadi Party today demanded expulsion of senior leader Amar Singh from the party, accusing him of damaging the interests of the organisation.
The order win by Suzlon’s subsidiary, REpower, to deliver 954 Mw of wind-power equipment is its largest ever onshore deal.
Subir Roy / New Delhi September 30, 2009, 0:32 IST
Coolpad Communications, a subsidiary of the Hong Kong-listed China Wireless Technologies that manufactures dual handsets, is planning an R&D unit in India by 2011. The company will decide on the exact location in India where the proposed R&D centre will be located towards the end of 2010, Coolpad’s managing director Sami Al-Lawati said here on Tuesday.
The global PC market is on the recovery path led by emerging markets, including India and China, a top official of PC maker Lenevo said.
Suzlon Energy, one of the leading wind turbine makers, has entered into an agreement with Australia"s Infigen Energy to provide 20 units of wind power generators aggregating to a capacity of 42 MW.
The markets have recover after slipping into negative terrain for the second time since morning trades. The NSE Nifty is now at 4,535, up eight points.
The markets have recover after slipping into negative terrain for the second time since morning trades. The NSE Nifty is now at 4,535, up eight points.
The markets are now exhibiting sideways movement, after initial volatility.
The Pension Fund Regulatory Development Authority (PFRDA) is taking ing various measures to increase the number of subscribers under its New Pension Scheme (NPS). It is in discussions with the General Insurance Council, various industry bodies and companies to offer the plan to their employees. Under the recent deal between the Indian Banks’ Association (IBA) and the pension regulator, all new recruits of banks will join the defined contribution system from April 1, 2010. Already 20 nationalised and 12 private sector banks have joined the new system.
Government today said the major private domestic airlines owed over Rs 274 crore to the Airports Authority of India for availing its services.
The Airports Authority of India (AAI) raised Rs 380 crore till September this year through short loans for funding various development projects but the borrowings will not lead to increase in passenger fares, the Rajya Sabha was informed today.
Semiconductor revenues in 2010 are expected to bounce back to the same levels as in 2008 at $255 billion, analyst firm Gartner said in its latest outlook.
All offer documents of fund houses run a mandatory declaration: “Mutual funds are subject to market risk. Read the offer document carefully before investing.” But ‘market risk’ per se is not all that the investor should be worrying about, especially those who are investing in an existing fund.
At a time when most enterprises around the globe are seeing an explosion in the volumes of their digital events, the management of the data with effective event processing mechanism is the need of the hour, says research firm Gartner.
REpower, the German subsidiary of Suzlon Energy, has posted a 21.5 per cent increase in net profit at ¤17.5 million (Rs 121.9 crore) for the first half of 2009-10, from ¤14.4 million (Rs 100.3 crore) in the previous year, thanks to its healthy order book position.
Anil Ambani Group"s life insurance venture Reliance Life expects to tap the capital market with its initial public offer in the first quarter of next fiscal, a top company official said here.
At the upper price band of Rs 212, it will be the most valued listed media company in India.
It will be for the third time that Jharkhand will have two deputy chief ministers in its nine-year long political history.
This is one of the few IPOs to be oversubscribed in the retail category this year.