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Bharati Shipyard today said it has hiked the open offer price to acquire stake in offshore service provider Great Offshore to Rs 560 per share.
Banks’ association says the process needs a huge effort.
State Bank of Mysore (SBM) will raise Rs 600 crore from rights issue, under which more equity will be offered to the existing shareholders to augment its capital base and meet the Reserve Bank"s solvency norms.
The Reserve Bank of India (RBI) today extended the transition period given to the banks to treat the advances to equity-oriented mutual funds as capital markets exposure by six more months.
The last date for sale and submission of request for qualification (RFQ) applications for the Rs 12, 132-crore Hyderabad Metro Rail project is extended till December 14, 2009, from the earlier November 27.
Gold was little changed, trading near a six-month high in New York as the dollar weakened, boosting the appeal of the metal as an alternative asset. Silver declined from a 13-month high. Gold futures, after reaching $999.50, the highest price since February 23, posted the biggest weekly gain since April.
Aluminum consumption in Asia may continue to grow next year as stimulus measures in China, the world’s biggest metals consumer, and rest of the region lift demand for the metal, an executive at Novelis Korea said.
A section of Air India employees owing allegiance to ACEU has threatened to strike work from December 22 to protest the management"s proposed move to withdraw some facilities now available to them from January 1.
US national of Pakistan-origin David Coleman Headley was today charged in a court here with criminal conspiracy in the Mumbai terror attacks and having links with a retired Pakistani army Major who liaised between him and terror groups, including LeT and HuJI.
The Janpath Hotel is fighting the odds with a novel plan to bring it into the limelight.
Dubai World will sell some of its assets to part finance its $26 billion debt, a senior city-state official said amid a sharp fall in the main stock exchanges in the United Arab Emirates today.
Indians pink-slipped in the Gulf region following the Dubai debt crisis may look for some breather on their return to India with the Centre deciding to soon announce a special fund to rehabilitate overseas returnees who has lost jobs due to economic downturn.
The World Bank chief meets top policy makers.
The global petrochemical industry’s centre of gravity is shifting to the feedstock-rich West Asia as dozens of new projects are coming up in the region while production falters elsewhere. According to Chemical Week, co-organiser of the Fourth Annual GPCA Forum, 19 million metric tonne ethylene, the key building block for petrochemicals, is scheduled to be added annually to the Gulf region capacity over the next five years, nearly doubling the current capacity and providing extensive raw materials for downstream industries.
Online platforms for mutual funds (MFs) could soon become a reality. With the Securities and Exchange Board of India (Sebi) nudging the exchanges – the Bombay Stock Exchange and the National Stock Exchange – to launch such platforms, investors could soon find that buying or selling of mutual funds could be much easier.
Madhukar Sabnavis / New Delhi November 06, 2009, 0:40 IST
Markets continue to languish in red. However, they have recovered from the day"s low.
The global petrochemical industry’s centre of gravity is shifting to the feedstock-rich West Asia as dozens of new projects are coming up in the region while production falters elsewhere. According to Chemical Week, co-organiser of the Fourth Annual GPCA Forum, 19 million metric tonne ethylene, the key building block for petrochemicals, is scheduled to be added annually to the Gulf region capacity over the next five years, nearly doubling the current capacity and providing extensive raw materials for downstream industries.
IRB Infrastructure Developers today said it has emerged as the lowest bidder for a Rs 800-crore road project of the National Highway Authority of India (NHAI).
Mixologist Max Warner makes us cocktails with Chivas Regal
Kalpataru Power Transmission closed at Rs 1151, weaker by Rs 19 or 1.64%, on the BSE.
The Orissa Chief Minister Naveen Patnaik today called upon the large and medium industries in the state to promote the Micro, Small and Medium Enterprises (MSMEs).
Chef Simon Tress takes the best of German and Indian cuisines.
Markets opened weak this morning following cues from the Asian markets. The Securities and Exchange Board of India’s (Sebi’s) move against Reliance also dampened the sentiment. The stock slipped below the Rs 1,000-mark in early trades.
Asian markets ended in the red today. The Hang Seng dropped 228 points (1%) to 20,948. The Nikkei, however, added 41 points to 10,183.
Asian markets ended in the red today. The Hang Seng dropped 228 points (1%) to 20,948. The Nikkei, however, added 41 points to 10,183.
The Asian Development Bank (ADB) today raised its growth outlook for the country to 7 per cent from its earlier 6 per cent for calendar year 2009.
While the run-up in prices have made metal stocks expensive, medium term prospects are unattractive due to weak demand and inventory pile-up.
Bilcare ended at Rs 512, lower by Rs 2 or 0.3%, on the BSE.
Prime Minister Manmohan Singh is going to Kolkata tomorrow to see ailing former West Bengal CM Jyoti Basu. Singh would be leaving for the West Bengal capital in the morning and there was a possibility of the scheduled Union Cabinet meeting being postponed till the evening, official sources said.
Global pharma major Pfizer is to source source 40 off-patent (generic) cancer care products from Bangalore-based Strides Arcolab and sell the products in the United States.
World"s largest steel maker ArcelorMittal believes that India is not equipped to handle big-ticket investments, although the country needs over half a trillion dollars to shore up its infrastructure.
The Sensex is now at 17,645, down 55 points. The NSE Nifty is at 5,271, down 12 points.
Tata Motors ended at Rs 827, higher by Rs 34 or 4.3%, on the BSE.
Ras Al Khaimah (RAK), which is a part of the United Arab Emirates (UAE), is in talks with Indian companies to set up a maritime city, according to its Free Trade Zone (FTZ) chief executive officer Oussama El Omari.
Glenmark Pharmaceuticals today announced two significant agreements with US-based Medicis Pharmaceutical Corporation.
State-run gas utility GAIL India Ltd today declared a 20 per cent (Rs 2 per share) interim dividend for the current fiscal.
Meet chaired by PM concedes suggestion for immediate sale.
Yuvraj bats for Ranbaxy’s healthcare brand
Assocham: Aam aadmi Budget
Motilal Oswal Financial Services reported a 74 per cent year-on-year growth in net profit to Rs 47.2 crore for the quarter ended September 30, 2009.
Real estate firm Parsvnath Developers today reported a nearly three-fold growth in consolidated net profit at Rs 61.43 crore for the second quarter ended September 30, and said it expects the coming quarters to be more robust.
Sohini Das & Maulik Pathak / Mumbai/ Ahmedabad December 05, 2009, 0:38 IST
The state health and family welfare department is looking to forge partnerships with the healthcare institutions in the private sector.
Power PSU NTPC today moved the Supreme Court challenging Bombay High Court"s decision that allowed Mukesh Ambani group firm RIL to amend its petition on the gas dispute citing government"s pricing policy.
Premji Invest, the $1 billion private equity fund floated by Wipro’s billionaire chairman Azim Premji, is understood to be close to investing around Rs 150 crore in Bangalore-based Manipal Group’s education arm through a structured deal.
Indian bourses rose to one-month highs as Reliance Industries leaped on its mega merger plan. The Bombay Stock Exchange (BSE) Sensitive Index today opened at 17,067.14 tracking positive global vibes.
Union Solicitor General Gopal Subramanium has advised NTPC Ltd to transfer its case against RIL to the Supreme Court.
Ruias-owned Essar Oil has tied up $920 million to fund the expansion of its Vadinar refinery in Gujarat to 16 million tonnes, CEO Naresh Nayyar said.
Gas Turbine Research Establishment is looking to develop a marine version of Kaveri engine, originally intended to power India"s indigenous fighter jet Tejas Light Combat Aircraft, in partnership with the Navy.
A decade earlier, when the Indian auto market was stagnant and there were not many new models to talk about, there were years when even Maruti Udyog, the market-leader, gave the Delhi Auto Expo a miss. Few manufacturers can afford to do so today.
When director Roland Emerich was looking for a image that would sum up the apocalyptic tone of his blockbuster 2012, he could only conjure up one picture, the Himalayas being flooded.
Even as the order inflow was healthy, analysts feel the company may fall a tad short of its new revenue growth guidance.
Larsen & Toubro (L&T) today recorded its largest single-day fall in last six months, after the company reported 50% drop in net profit. The company posted Rs 758.82 crore net profit for Q3FY10 against Rs 1,520.44 crore in Q3FY09.
Haryana Cooperation Minister Paramvir Singh said that the central cooperative banks in the state would provide a loan of Rs 8,600 crore during the current financial year to the farmers. These banks had provided loans worth Rs 4,306.60 crore during the last financial year to the farmers under various schemes.
Glenmark Pharmaceuticals is confident of outlicensing at least one of its new chemical entities (NCEs) under development before the end of this financial year, according to the chief executive and managing director, Glenn Saldanha.
On September 7, the Bombay Stock Exchange’s Sensitive Index, or Sensex, closed over 16,000 points for the first time in over a year. And the good news is that it has consistently been able to close above this mark.
Chief minister K Rosaiah on Sunday directed civil supplies, vigilance and enforcement, and agriculture and marketing departments to step in immediately to keep the prices of essential commodities under control.
Shares of steel companies have risen significantly in the recent past in anticipation of recovery in demand and prices.
Godrej Properties (GPL), the real estate arm of the Godrej group, is likely to come out with its initial public offering (IPO) in the next 10 months, a top company official said.
The Orissa government is yet to form the Rehabilitation and Periphery Development Advisory Committees (RPDAC) for 13 large projects in the state.
Sreelatha Menon / New Delhi November 15, 2009, 0:32 IST
Industrial tool to optimise operations
Corporate India today felt let down by the failure of the $23-billion proposed merger deal between telecom giants Bharti Airtel and South Africa"s MTN but said the south-south co-operation was still alive.
Even healthy growth in vibrant markets like India and China could not help global personal computer manufacturer Dell’s net profit from slipping 54 per cent to $337 million, from $727 million in the same quarter last year. Revenue also declined by 15 per cent to $12.9 billion, compared with $15.2 billion in the same period last year, it added.
Deficient rains will not have any impact on rural demand for FMCG products, Godrej group Chairman and Managing Director Adi Godrej said today.
Says government needs to increase subsidy on kerosene and LPG
Bangalore-based private sector lender ING Vysya Bank on Thursday reported a 16 per cent rise in net profit to Rs 60.6 crore for the third quarter ended December 2009 compared with the year-ago period. Its operating profit was up 37 per cent to Rs 145.8 crore.
Public sector lender Oriental Bank of Commerce today reported a growth of 14.76 per cent in net profit at Rs 289.43 crore for the quarter ended December 31, 2009, over the same period last year.
Indian IT major HCL Technologies today said the cost-cutting phase necessitated by the global economic downturn is over and it will work with its global customers to help redesign their business.
Exuding confidence that India"s space programme will soar fresh heights under new ISRO chief K Radhakrishnan, its outgoing chairman G Madhavan Nair today said his successor will be able to carry forward the agency"s plans, including the most challenging manned moon mission to space.
Chennai-based Zylog Systems is planning to invest around Rs 400-500 crore to create infrastructures which would support its plan to bag government projects. The company is also in the final stage of acquiring a company in Singapore, which offers solutions for various e-governance and public utility services. Besides the company is also starting a pilot to give internet through towers.
To mark 10 years of its existence, Kurkure, FritoLay’s Indian innovation in the salted snack market, is changing tracks. It came out in December with a print campaign which told readers how Kurkure is made from what can be found in any Indian kitchen, underlining that the ingredients are as wholesome as what goes into home-made food. Kurkure now on will be less about flavours and more about ingredients. It will launch the first of its products towing this line, called Punjabi Kadai Masala, soon. The product contains rajma and ragi, staple Punjabi food, apart from the usual rice, corn, spices and lentil.
Tata Tea, engaged in tea plantation and processing business, today announced a consolidated net profit of Rs 92.23 crore for the third quarter ended December 31, 2009, down 76.71 per cent over the corresponding period last fiscal.
Buoyed by ramping up output from Barmer oilfield, Cairn India today reported a 23 per cent rise in net profit to Rs 291 crore in the third quarter.
A dispute between Jammu & Kashmir Bank (J&K Bank) and its majority shareholder, the government of J&K, over a demand of Rs 111 crore raised by the state government, has apparently led to the return of the Reserve Bank of India (RBI) nominee on the bank’s board a few weeks ago.
Public Sector lender Central Bank of India today said its net profit declined by 13.25 per cent to Rs 306.44 crore for the third quarter ended December 31, over the corresponding period last fiscal.
Private sector lender City Union Bank on Saturday said its net profit rose by 26.55 per cent to Rs 40.65 crore for the third quarter ended December 31, over the corresponding period last year.
Domestic institutional investors (DIIs) were net buyers of Rs 2,330.25 crore (provisional) today, according to data released by BSE.
Short-covering, expectation of rise in yield on advances behind spike.
With budgetary preparations on in full swing, the Reserve Bank of India (RBI) today advised the Finance Minister to at least partially rollback the stimulus that was provided to help the industry cope with the financial crisis.
The markets slipped as a knee jerk reaction to the 75 basis points CRR hike announced by the RBI, but has soon recovered again. The CRR (Cash Reserve Ratio) hike was suprisingly higher than the 50 bps expected by the markets.
Hurt Pakistani cricketers have decided to "avoid" the Indian Premier League until Indo-Pak diplomatic ties don"t normalise, sources in the team revealed today.
Sayantani Kar / New Delhi November 17, 2009, 0:18 IST
The Insurance Regulatory and Development Authority (IRDA) is considering allowing life insurers to invest part of policy holders" money in equity derivatives, a move that would allow these firms to hedge the risks emanating from cash markets.
Asian stocks rebounded from earlier losses after Dubai secured $10 billion of funding to repay its debt. Japan shares dropped as a measure of business confidence showed companies are scaling back investment plans.
Handset giant Nokia today said it will cut around 330 jobs in Finland and Denmark, as part of streamlining research and development operations.
Insiders, who have been chosen as CEOs of companies like Mukesh Ambani of Reliance Industries and Steve Jobs of Apple, have faired better than those who have been brought in from outside, says a survey.
A peak into gizmos you can safely invest in and carry over to the next year without feeling the itch to upgrade.
Space, says Raavi Sabharwal, is “opportunity”, “challenge” and, most importantly, “fun”. Sabharwal, 63, is the publisher of Timeless Books and owner of Timeless — The Art Book Studio, tucked away in one of the many bylanes of Kotla Mubarakpur, one of the many “asides” of the Capital, cheek by jowl with the upmarket South Extension shopping centre. The 1,600 sq ft space, which you stumble into after you’ve taken a few wrong turns, is quiet and peaceful, a refuge from the chaos that surrounds it.
Haryana Cooperation Minister Paramvir Singh said that the central cooperative banks in the state would provide a loan of Rs 8,600 crore during the current financial year to the farmers. These banks had provided loans worth Rs 4,306.60 crore during the last financial year to the farmers under various schemes.
Kerala has emerged as the number one market for exterior emulsion paint companies like Asian Paints, Nerolac, Dulux and Jotun.
The Sensex finally ended (provisional) at 16,242, down 538 points. The Nifty shed 171 points at 4,837.
Markets have dropped again. The Sensex is now down 213 points at 16,567. The Nifty is down 75 points at 4,933.
The Sensex ended at 16,357, up 50 points, and the Nifty ended at 4,891, up 24 points (provisional closing).
Asian markets today ended with moderate losses.
Current market fluctuations in bonds yields were not dangerous, and a 10-year yield of 7-8 per cent was not uncomfortable, Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty said today.
At the end of 2008, banks were staring at a slowing economy, souring retail loans and a tanking stock market. The focus, especially of private and foreign banks, was on containing losses rather than growing.
Private sector lender ICICI Bank today reported a 26.36 per cent drop in consolidated net profit at Rs 1,148.66 crore for the third quarter (Q3) ended December 31, 2009.
Reflecting the robust growth witnessed by the Indian economy, major cement manufacturers, including Ambuja Cements, Jaiprakash Associates and Shree Cement, today reported increase in their sales in November.
Progress on infrastructure, real estate and power projects will determine value creation in the long run.
The markets have extended losses after European exchanges opened weak.
The US markets ended in the green. The Dow added 115 points to 10,725 and the Nasdaq gained 32 points at 2,320. The S&P 500 was up 14 points at 1,150.
Progress on infrastructure, real estate and power projects will determine value creation in the long run.
The Sensex fell 0.88 per cent, or 155.02 points, at 17,486.06, as weak global markets encouraged investors to lock in profits in outsourcers such as Tata Consultancy Services and Infosys Technologies.
The Sensex and Nifty closed near their trendline support of 17,400/5,220 on the back of weakness in world stocks and lack of buying interest in the futures and options (F&O) segment in the last couple days.
The British government plans to freeze the salaries of top bureaucrats and offer only minimal increases to other senior workers in an effort to control the country"s spiralling deficit, a treasury official has said.
Dhanalakshmi Bank is planning a brand transformation initiative which will include changing the logo and related branding treatment across all its customer touch-points.
The Indian markets have pared most of their gains and are now trading flat. The Sensex is now at 17,505, down 18 points. The NSE Nifty is at 5,228, down two points.
The markets have held on to their gains in the past one hour. The Sensex is now quoting at 17577, higher by 91 points and the Nifty is at 5251, up 25 points.
The affordable housing projects launched by Tatas in Mumbai would be extended to more cities since the concept had evinced keen interest from all parts of the country, Tata group Chairman Ratan Tata has said.
Government’s security concerns about Chinese equipment makers not a deterrent.
Bharti Airtel is likely to sign an agreement with Bangadeshi firm Warid Telecom for acquiring 70 per cent stake during Prime Minister Sheikh Hasina"s visit to India next week.
South Korean steel giant Posco has finally got the clearance from the Environment Ministry for acquiring forest land for its proposed Rs 54,000-crore steel project in Orissa, which has been already delayed more than a year.
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.
Yes Bank plans to raise $150-200 million through private placement of shares this fiscal, a senior bank official said.
Former Bank of England policy maker Willem Buiter said Greece might be the first major country in the European Union (EU) to default on its debts since the aftermath of the World War II.
The interest rate futures (IRFs) trading in the country will get a boost in coming days, as Life Insurance Corporation (LIC) and Central Bank of India have agreed to provide support to the exchange-traded product. Both these will ensure adequate liquidity on the National Stock Exchange (NSE)— the bourse where IRFs are traded.
Challenges posed by climate change hit centrestage in 2009 which saw the government doing a flip-flop ahead of the crucial Copenhagen summit even as the Opposition and experts alleged that India succumbed to pressure from rich nations on emission cuts.
Shree Ashtavinayak ended at Rs 84, lower by Rs 1 or 1.3%, on the BSE.
Aban Offshore slumped over 8% to Rs 1,130 on the back of 65% decline in net profit.
As a mark of its commitment to biodiversity conservation, India will host the eleventh Conference of Parties (COP) to the Convention on Biological Diversity (CBD) in October 2012. Called ‘Rio + 20’ CBD Conference, the COP, to be held in New Delhi, will also commemorate the twentieth anniversary of the Rio Earth Summit, held in 1992 in Rio de Janeiro.
India Infrastructure Finance Co was likely to finalise the takeout financing scheme within a month and might implement it by the first week of March, Chairman and Managing Director SS Kohli said today.
The stock dropped to a low of Rs 89 and has finally ended with a loss of 2% at Rs 90. The counter clocked a volume of 15.6 lakh shares, as against the two-week daily average trade of 6.9 lakh shares on the BSE.
President Barack Obama will today propose new limits on the size of US banks after spending billions of tax-payer dollars to bail out "to-big-to-fail" firms, a senior official said.
Public sector lender Union Bank of India (UBI) today said its net profit declined by 20.48 per cent to Rs 534.13 crore for the third quarter ended December over the same period in the previous fiscal.
GMR Hyderabad International Airport Limited (GHIAL) and the Geneva-based Airports Council International (ACI) today signed an agreement for appointment of GMR Aviation Academy as a global training hub for the Asia-Pacific region.
The global slowdown has delayed the breakeven of Rajiv Gandhi International Airport at Hyderabad, operated by GMR Hyderabad International Airport Ltd (GHIAL).
Surf"s up for Bombay Dyeing as its real estate projects and domestic textile demand take-off
Leading textile and apparel company S Kumars Nationwide today said its consolidated net profit rose by 77.88 per cent to Rs 67.39 crore for the quarter ended December 31, 2009.
The stock extended gains to touch a high of Rs 55 - up 10% from the day"s low of Rs 50. It finally ended up 3.2% at Rs 52.
Regional Indian cuisine, done well has many takers.
The Securities Appellate Tribunal (SAT) has set aside charges of insider trading against Dilip Pendse, former managing director of Tata Finance, and his wife Anuradha Pendse and Nalini Properties.
Leading Japanese drug maker Daiichi Sankyo has challenged the Securities Appellate Tribunal (SAT) judgement that asked it to make an open offer to shareholders of Zenotech Labs at Rs 160 per share.
Suzlon Energy has forayed into the Swedish market with its first order coming from Triventus AB, a wind power developer and consultant. The order is for two S88-2.1 megawatt wind turbines. Suzlon will also sign service and maintenance partnership contracts with a subsidiary of Triventus for future projects in Sweden, the company said in a statement to the stock exchanges.
A few of the proposals are awaiting clearance for over six months now.
We all have a variety of multimedia content on our computers. From the photos you have clicked on your digital camera to your ever-expanding collection of MP3 songs to movies and television shows, wouldn’t it be nice if there was an easy way to send all this to your TV for easy viewing in your living rooms?
Money transfer firm Western Union Financial Services plans to tie up with e-governance service providers and microfinance institutions to expand its reach in India.
Mahesh Vyas / New Delhi January 2, 2010, 0:54 IST
The country"s largest lender, State Bank of India (SBI), reported a 8.40 per cent decline in its consolidated net profit at Rs 3,304.59 crore for the third quarter ended December 31, 2009.
Private airline Jet Airways today posted a profit of Rs 105.80 crore for the third quarter ending December 31, 2009, the company said in statement here.
Maruti Suzuki, India"s largest manufacturer of passenger cars, launched Eeco, a multipurpose vehicle (MPV) in Ahmedabad today.
Suzuki agreed to sell its entire 50 per cent stake in the venture, Cami Automotive Inc, to the Detroit-based car maker.
The small car being developed by Bajaj Auto that will be marketed by Renault-Nissan alliance in India will be smaller than Maruti Suzuki"s Alto, according to the French car maker.
India Inc is likely to post 15-20 per cent growth in net profit in the third quarter, thanks to a low base year and a promising show from automobiles, capital goods, construction, metals, pharmaceuticals and sugar companies. The telecom sector, for the first time after several quarters of strong performance, is expected to show decline in net profit on the back of decline in revenue per phone.
Spurred by huge demand from power, telecommunication and housing sectors, India’s copper consumption is likely to rise 5-6 per cent this year. The three sectors account for 65 per cent of the total demand in India.
The usually choc-a-bloc bus parking lot at Makuhari Messe was deserted. There were no car company hoardings on the way to the Tokyo Motor Show venue either. Inside, the show was restricted to just three halls. There were no go-go girls in skimpy costumes dancing to loud techno beats. Missing in action were Ferrari and Lamborghini. No Jaguar or Aston Martin, either. Not even Volkswagen. The space normally occupied by the American giants was filled in with paintings by children – on an automotive theme, mind you.
Japanese car maker Nissan today said it would consider launching electric vehicles in the Indian market within few years as part of its global plan to roll out cleaner and alternative fuel technology.
Automobile maker Mercedes-Benz India today launched its multi-axle luxury bus at a price of Rs 85 lakh in the domestic market.
The country"s largest carmaker Maruti Suzuki today said it expects September sales to increase by over 30 per cent due to robust demand during the festive season but cautioned that a looming hike in interest rates on car loans may not help in maintaining the momentum.
The Sensex has ended (provisional) at 16,393 - up 35 points. The Nifty ended (provisional) at 4,916 - up 34 points.
The markets ended lower for the second straight week as rate hike fears, global cues and futures & options expiry weighed on the sentiment. The Sensex fell below 16,000 for a brief while and touched a low of 15,982. It eventually ended with a loss of 502 points at 16,358.
The stock gained 2.4 per cent to Rs 1,178.15, a lifetime high, after the company announced more than 100 per cent growth in its domestic auto sales for the month of December 2009. The domestic auto sales stood at 22,754 units, as against 10,253 units in December 2008, up 2.22 times.
Personal and oral care products maker Colgate-Palmolive today reported a 50 per cent increase in net profit at Rs 116.39 crore in the third quarter ended December 31, 2009 over the same period last fiscal.
Tata Tea, engaged in tea plantation and processing business, today announced a consolidated net profit of Rs 92.23 crore for the third quarter ended December 31, 2009, down 76.71 per cent over the corresponding period last fiscal.
Jeera future prices are likely to firm up in January as there is a possibility for renewed export demand in the market. The demand from overseas market is expected from first week of January 2010 and this may support the price to strengthen.
Trades between FIIs generated a volume of Rs 20 crore on the BSE Monday-an decrease of 27.19% from Rs 27 crore clocked on Friday. As many as three stocks witnessed trades of 1.66 lakh shares on Monday.
Mortgage entities Fannie Mae and Freddie Mac are planning to introduce a programme aimed at helping independent mortgage banks to make home loans, says a media report.
GMR Hyderabad International Airport Limited (GHIAL) has signed three memoranda of understanding with Jet Airways, Malaysia Airports Consultancy Services (MACS) and Asia Pacific Flight Training Sdn Bhd (APFT).
Exporters, hit by a demand slump in the global market, have sought RBI"s intervention for dollar credit from banks at competitive rates.
Life insurers have begun to spend big money on brand promotion. The market, after all, is crowded. At last count, there were 22 companies in the fray for a market estimated at Rs 55,355 crore. SBI Life, the 74:26 venture of State Bank of India and BNP Paribas Assurance, has been not as aggressive as its rivals so far as brand promotion is concerned. Where others rolled out campaign after campaign, SBI Life stuck to its old campaigns. It is only now, after a two-year hiatus, that it has come out with a brand new advertising campaign.
Approaches government for fresh funds, conversion of bonds into equity.
South Indian Bank (SIB) reported a 15.8 per cent increase in net profit at Rs 62.46 crore in the third quarter of current financial year as compared to Rs 54.20 crore in the same period of last fiscal.
Marked by a strong bonding between their Prime Ministers, Indo-UK ties witnessed an upswing in 2009, especially in fields like education, IT and trade, with President Pratibha Patil"s October visit here proving to be icing on the cake as it helped cement the bilateral relations.
The scrip finally settled at Rs 131, up 2.6%. The counter witnessed trades of 288,640 shares as compared to the two-week daily average traded volumes of 535,410 shares.
A clutch of IPOs, including Asia"s third biggest by state-run NHPC, has propelled India to the sixth position in the list of most active nations in the global space of initial public offerings this year.
The spat between Google and China is unlikely to have any impact on Islamabad"s ties with Beijing, the Obama Administration has said.
Madhukar Sabnavis / New Delhi January 1, 2010, 0:19 IST
Sanjaya Baru / Sanjaya Baru February 1, 2010, 1:19 IST
The government today said all state-owned companies under the Department of Heavy Industry should go in for energy audits to help cut costs and reduce pollution.
Economists call it the “U without Q” (utilisation without quality) factor. The expression is now being increasingly used to describe the progress made by Bharat Nirman, considered by many as the jewel in the crown of the United Progressive Alliance (UPA) government.
The US government quietly agreed to forgo about $38 billion in potential tax payment from troubled financial giant Citigroup as part of a deal that help the company repay bailout funds, a media report has said.
Amid reports of fresh bouts of dissidence in the ruling BJP in Karnataka, chief minister B S Yeddyurappa today said he has “committed several mistakes” after assuming charge and promised people that such mistakes would not recur.
The Delhi High Court has said it is not mandatory for the government to award contract to the lowest or highest bidder in a tendering process and had the option of giving the work to some other party instead.
The much-awaited auction of spectrum for third generation (3G) mobile services would be delayed by over a month and is likely to start by the end of February.
Jyoti Basu remained as popular in death, as he was when alive. The Marxist patriarch’s far-reaching appeal ensured that the country’s political establishment, irrespective of party affiliations, paid its last respects to him on Tuesday, save Trinamool Congress chief Mamata Banerjee.
Indian stocks trading on American bourses lost $3.85 billion (around Rs 18,000 crore) from their total market valuation last week, with HDFC Bank and Sterlite Industries leading the pack.
The Empowered Group of Ministers (EGoM) on 3G is divided on the number of private players to be allowed as some members have demanded four players in each metro against the Telecom Department"s suggestion of three operators.
Business Standard / New Delhi January 13, 2010, 0:39 IST
Some big boys disappoint, but India Inc’s Oct-Dec show has been impressive.
Aptech, a leader in learning solutions, today announced the global launch of an executive program in cloud computing.
Anil Ambani group firm Reliance Capital Asset Management today announced appointment of Ian Lancaster as the CEO of its Malaysian subsidiary, which has been set up to tap the fast-growing market for products complying with Islamic law.
Hollywood"s iconic movie studio Metro-Goldwyn-Mayer (MGM) has received interest for a possible takeover from more than 10 suitors, including Anil Ambani-led Reliance-Anil Dhirubhai Ambani Group (R-ADAG), says a media report.
The market opened weak and sustained selling pressure saw the benchmark indices, the Nifty and Sensex, lose their crucial support levels of 5,150 and 17,300, respectively. The spot Nifty closed at 5,094 while January futures closed at almost 10 points discount on profit-taking and short build-up.
The market opened weak and sustained selling pressure saw the benchmark indices, the Nifty and Sensex, lose their crucial support levels of 5,150 and 17,300, respectively. The spot Nifty closed at 5,094 while January futures closed at almost 10 points discount on profit-taking and short build-up.
After losing customer accounts to public sector banks at the height of the downturn, private sector banks seem to be on their way back.
Private sector lender City Union Bank on Saturday said its net profit rose by 26.55 per cent to Rs 40.65 crore for the third quarter ended December 31, over the corresponding period last year.