Online Business
Indian fast moving consumer goods (FMCG) players are once again on the prowl to acquire companies, as the economy picks up.
A better reach in rural markets has helped both the soaps and hair colours businesses.
Emami may join the race to buy Simple, one of the largest skincare brands in the UK. Sources familiar with the development say the company is exploring all options and may approach the management of the UK-based company shortly.
A V Rajwade / New Delhi January 11, 2010, 0:50 IST
ElectraCard Services today launched an electra loyalty management system for Barclays Bank.
Prime Minister Manmohan Singh today said that 3G telephony spectrum would be auctioned soon, thus ending the uncertainty generated by reported differences between ministries of telecom and defence on vacation of airwaves.
The US financial crisis and the resultant economic downturn pushed many a top honchos out of their corner rooms in 2009, but Citigroup’s India-born chief, Vikram Pandit, continues to steer the once financial colossus out of its biggest crisis.
The country"s third-largest public sector lender Bank of Baroda (BoB) today said it is open to overseas acquisition if a good opportunity comes across.
The Indian Air Force’s Sukhoi-30MKI fighter is a beast that is tamed only by technology. The aircraft’s giant AL-31FP turbofan engines, which allow manoeuvres that no other fighter can dream of, are monitored by its pilots on high-tech computer screens called multi-function displays, or MFDs. A quick glance across the MFDs also provides information about on-board weapons and sensors, telling the pilots everything about how the aircraft is flying and fighting.
In a move aimed at rationalising foreign direct investment (FDI) in various areas of the broadcasting sector, the Department of Industrial Policy and Promotion (DIPP) has proposed to increase the FDI cap for direct-to-home (DTH) services, uplinking hubs, teleport services and FM radio.
Making a u-turn, Praja Rajyam chief Chiranjeevi today announced his decision to resign as MLA and support a united Andhra Pradesh, changing the party"s earlier line of support to separate Telangana state.
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
Nagarjuna Agrichem (NACL), one of India"s leading crop protection companies, plans to expand its production capacity by 9000 tonnes by 2011 at a total cost of Rs 250 crore.
Realty major DLF today said its board has approved integration of DLF Assets with DLF Cyber City Developers, a move that will enhance its cash flow through rental income.
The DMK Government today launched Tamil Nadu Transmission Corporation Limited, setting into motion the trifurcation of the state electricity board in line with the Centre"s directive, even as it said that the three corporations would not be privatised "at any cost."
Jyoti Malhotra / New Delhi October 27, 2009, 0:54 IST
The broader indices opened higher for the first two days. Since then, index stocks struck to a narrow range as investors preferred to wait for the December quarter results. Nevertheless, markets ended the week at a 22-month high with the Sensex ending nearly flat and Nifty gaining 13 points or 0.8 per cent to 5,245.
Amid a spate of attacks on Indians here, the Victorian government today said it will provide all relevant details to New Delhi on these incidents.
Canadian investment firm Urbana Corporation has said it is looking to buy a 5 per cent stake in India"s largest bourse National Stock Exchange (NSE), for an estimated Rs 600 crore.
IndiaSkills, a joint venture between India"s leading higher learning organisation Manipal Education and UK-based City & Guilds, will invest Rs 200 crore over the next five years to offer vocational training courses across sectors like hospitality and retail.
Real estate developers cannot be fined for late delivery of possession of a flat to an allottee if no specific date of its delivery is mentioned in the contract, the apex consumer body has held.
Regulator may extend deadline after industry says it lacks Indian commanders
Brewing major SABMiller today said it has moved the Andhra Pradesh High Court seeking its intervention on state beverage corporation"s decision not to procure to company"s beer.
The car finance market is hotting up with ICICI Bank and Axis Bank slashing interest on new car loans.
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.
In my mind
Chennai-based auto maker TVS Motor Company today said it will showcase a range of vehicles, including different hybrid models, at the 10th Auto Expo starting here from January 5, 2010.
Will launch the one-tonne LCV at Delhi auto show on Jan 5.
The Uttarakhand High Court on Monday asked the newly-constituted Ganga River Basin Authority to set up an expert committee to decide the fate of the three key hydel projects on river Bhagirathi.
Industry experts and surveillance equipment vendors agree the government has woken up but insist there should be more action.
Auto ancillary company Steel Strips Wheels today said it has received an order from European car maker Renault for supplying steel wheel rims, that would fetch the Indian company about euro 28 million (about Rs 195 crore).
The government today said market regulator Sebi does not monitor usage of proceeds of any initial public offers (IPOs) and it is not contemplating any change in the current regulatory framework.
Hexaware’s net profit for the third quarter ended September 30, 2009 jumped over threefold to Rs 41.3 crore from Rs 11.5 crore in the corresponding quarter last year.
The commerce ministry has prohibited import of mobile phone handsets (classified under ITC (HS) Code ‘8517’) without International Mobile Equipment Identity (IMEI) number or with all zeroes’ IMEI, with immediate effect from October 14, 2009. Import of ‘CDMA mobile phones’ (classified under ITC (HS) Code ‘8517’) without Electronic Serial Number (ESN)/Mobile Equipment Identifier (MEID) or with all zeroes as ESN/MEID is also prohibited with immediate effect from the same date.
The country"s largest iron ore producer National Mineral Development Corporation (NMDC) is planning to file draft prospectus with the market regulator Sebi within a fortnight for its estimated Rs 14,000-crore disinvestment programme.
The government has asked mobile operators to comply with national security norms by not carrying calls from handsets embedded with fake International Mobile Equipment Identity (IMEI) numbers by November 30.
Although growth was helped by the low base of last year, monthly sales suggest the recovery is turning stronger.
The Comedy Store, a humour club in the UK, will launch its Mumbai edition later this year. Founder DON WARD talks to Neha Bhatt
Foreign fund house Sloane Robinson LLP has hiked its stake in Indiabulls Real Estate to 5.42 per cent through open market share acquisition.
BS Reporter / Mumbai October 28, 2009, 0:17 IST
Concerned over the recent takeover of some firms by Multi National Companies (MNCs), the domestic pharmaceutical industry has asked the government to protect and promote it by making available funds for research and development.
Fashion and lifestyle brand retailer DLF Brands will launch the DKNY brand in the Indian market this month.
Shedding earlier reservations over some aspects of the controversial new FDI guidelines, the Finance Ministry now says it does not have any objection to new rules that changed the criteria for calculation of foreign ownership in a company and its downstream investment.
Karnataka BJP dissidents today rebuffed Chief Minister B S Yeddyurappa"s efforts to reach out to them by refusing to meet him.
The country"s manufacturing sector is likely to witness a rise in hiring activity in the last three months of this year due to an expected increase in demand, says a report by Japanese securities firm Nomura.
Business Standard / New Delhi October 13, 2009, 0:04 IST
India"s fiscal deficit touched 40 per cent of the full-year estimate in the first four months of FY10, kindling fears that expenses will exceed income beyond what was projected earlier.
Asian markets ended in the green today. The Hang Seng, dropped from its intra-day high to end with a gain of 115 points at 22,412.
Financial market regulators and senior finance ministry officials met today to review recent developments in markets and discussed issues, including those related to credit rating agencies, an RBI release said today.
This follows a renewed effort by CBDT to seek clarification on the issue.
Volume expansion required for breakouts.
State governments are increasingly moving in the direction to promote entrepreneurship and are adopting newer approaches for its development, a study by global consultancy KPMG says.
The US markets have closed in the green on the back of a spate of deals, soaring commodities and strong manufacturing data. .
Global commodities experienced a steep fall today, as investors and hedge funds across regions unwound their long positions after the news of Dubai’s debt crisis. Most commodities were down today between three and five per cent as the dollar strengthened. In late afternoon trade, however, prices recovered.
Allaying fears of delay in preparation for the Commonwealth Games 2010, Government today assured Rajya Sabha that all state-of-the-art stadia and infrastructure will be completed in time and security steps taken to ensure that the mega event is incident-free.
The Orissa government today rejected the Opposition demand for an enquiry by the Central Bureau of Investigation (CBI) into the irregularities at high level in the alleged mining scam running into hundreds of crores.
The water drawal by the industries from the Hirakud reservoir is much below the approved level, according to the state minister for industry and steel and mines, Raghunath Mohanty.
The Sensex touched a high of 17,062, and is now up 202 points 17,051.
The Sensex opened 44 points higher at 16,893 on the back of positive global cues. The index soon crossed the 17,000-mark, and is now up 154 points at 17,003.
The activities of foreign institutional investors (FIIs) with long build-up in the Nifty futures and short-covering in stock futures during the week ended September 13 augur well for the market. The Nifty is expected to hit a new high in the coming week if it crosses a crucial resistance at 5,060. On the downside, 4,940 is a healthy support level and, below that, 4,860 is the crucial support level. The Nifty rose over four per cent during the week largely due to short-covering from foreign investors in the Nifty and stock futures.
The stock finally ended with a gain of 3.5% at Rs 230 as against the day"s high of Rs 238. Around 487,310 shares changed hands at the counter on the BSE today.
Minority shareholder says he is willing to revise ‘open offer’ - Pramod Jain makes open offer for Golden Tobacco - Pramod Jain makes offer for 25% in Dalmia"s Golden Tobacco - GHCL ex-director, chief trade charges on share deals - WEEKLY UPDATE: Markets make a strong statement on positive cues - FII-TO-FII TRADES: PNB traded at 6% premium - Exchanges get free hand to fix derivatives expiry
Construction work on the onshore LNG terminal, coming up at Puthuvype, near here will be completed by December, next year.
Rejecting the Opposition’s demand for a CBI probe into alleged illegal mining in the state, Chief Minister B S Yeddyurappa today claimed there was no such activity going on and that he had not granted any new mining licence.
Want more cash, forex, higher bond coupons and increase in market prices for petrol, diesel, LPG.
The Ambani brothers may be at war with each other in real life, but that hasn’t stopped them from collaborating in reel life. The Aamir Khan starrer 3 Idiots, a Reliance Big Pictures release (an Anil Ambani enterprise), starts off thanking Mukesh Ambani for giving it permission to shoot at the IIM Bangalore campus — Mukesh Ambani is the chairman of IIM Bangalore.
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.
Amid growing opposition to the human consumption of genetically-modified brinjal, also referred to as Bt brinjal, in various quarters, Environment and Forests Minister Jairam Ramesh will travel across the country in January to hold consultations.
The $2 billion World Bank loan the government is seeking for road development will reduce the total borrowing needs of the National Highways Authority by 20 per cent to Rs 1,53,421 crore over the next 21 years.
Swiss luxury watch maker Tag Heuer is now looking beyond the metros. The company, which has seen its share in the estimated Rs 1,200 crore Indian luxury watches market, grow to 8 per cent, will multiply its presence in the country through multi-branded outlets in the smaller cities.
In a clear indication of an economic revival, the demand for power in India has jumped 6.3 per cent in the April-October period this financial year, compared with the same period of 2007-08 when it had increased by a mere 0.3 per cent, its lowest growth in the past five years, owing to the global financial meltdown.
Tata Teleservices, Reliance Communications and other private mobile telecom operators owe over Rs 603 crore to the government towards outstanding spectrum charges and licence fee for the last three years.
Telecom industry may be hit by biggest customer churn ever, due to mobile number portability.
Anil Ambani-controlled RNRL told the Supreme Court today that Mukesh Ambani’s RIL had put it in a disadvantageous position in terms of price, quantity and tenure in their Gas Supply Master Agreement (GSMA).
Minister of state for petroleum and natural gas Jitin Prasada, in a written reply to the Rajya Sabha, today said the Comptroller & Auditor General would audit the product sharing contracts (PSC) of Reliance Industries Ltd’s D6 gas block in the Krishna-Godavari basin for 2006-07 and 2007-08.
Religare aims to become one of the top financial services companies globally, and in double-quick time.
Foresight Opticals, the retail chain of optical stores from Foresight Vision Care Compnay Pvt Ltd, is planning to open 25 new stores in major cities across India in the next three years (by FY 2012-13).
Sumit Bose, former 13th Finance Commission Secretary, today took charge as Disinvestment Secretary, at a time when the government is expected to come out with a roadmap for its equity sale in PSUs next month.
Check the expense ratio, performance difference and track record of the scheme
Rajesh Bhayani / Mumbai January 30, 2010, 0:05 IST
To also discuss Swarup panel’s suggestions on financial stability.
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.
About ayear and a half after unveiling the car, Ratan Tata, Chairman, Tata Motors, will hand over the ownsership keys of the Nano to its first customer here tomorrow, at the company showroom in the Prabhadevi area.
Kumar Gallery in Delhi turns 55.
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.
Drilling and oil services firm Aban Offshore today said its consolidated net profit declined by 10.34 per cent to Rs 110.8 crore for the first quarter ended June 30, 2009, over the same period last year.
The Advertising Standards Council of India (ASCI) has pulled up 15 firms, including telecom companies, for running misleading ad campaigns during July to October this year.
British banks fear their fragile recovery will grind to a halt over the next few months, according to a survey by employers" organisation the Confederation of British Industry (CBI).
IDEA Cellular today bagged the title sponsorship for the one day international (ODI) cricket tri-series and the test match series. The series is to be played in Bangladesh from January 4, 2010. The cricket tournament, which includes a seven match ODI tri-series between India, Bangladesh and Sri Lanka and two test match series between India and Bangladesh will be titled ‘The IDEA Cup’.
Police have received specific intelligence inputs about a terror attack on one of the oldest clubs near Hotel Taj here following which security has been beefed up, police said today.
Trainer Sarina Jain packs in Cardio Fitness in “masala bhangra“.
The court of the special judge, Ranchi, has allowed the Enforcement Directorate (ED) to visit Thailand, United Arab Emirates (UAE), Indonesia, Sweden and Liberia to conduct further investigations into money laundering and hawala case involving over Rs 2,000 crore against the former Jharkhand Chief Minister Madhu Koda and his aides.
The Union government has directed state-run telecom majors, BSNL and MTNL, to continue placing 30 per cent of their product orders with ITI, the loss-making government undertaking.
Says allocation will be at market-determined prices.
Retail participants have provided relief to private equity (PE) players raising funds.
Financial services major Goldman Sachs plans to expand a programme that would require executive and top managers to give a certain percentage of their earnings to charity, as it tries to soften criticism over bonus issue, says a media report.
Bharati Shipyard (BSL) today said it would abide by the guidelines issued by the market watchdog Securities and Exchange Board of India (Sebi) on the Great Offshore open offer.
The Planning Commission has approved the Rs 300 crore Rukura medium irrigation project (MIP) in Sundergarh district of Orissa.
Accepting slippages in capacity augmentation targets in the power sector during the first two years of the 11th Plan, the government today said bottlenecks in road transportation and movement of utilities had led to delays.
In yet another setback to the beleaguered Posco steel project in Orissa, the members of the United Action Committee (UAC), a purportedly pro-Posco outfit in the project site area, has decided not to apply to the district administration in Jagatsinghpur for compensation against loss of betel vines.
Sea Trans Marine Private Ltd, a Kolkata-based shipping agency has filed a case in an international court in London against the owner and management company of the vessel Black Rose, which capsized near Paradeep port a month back.
Three contract workers died in a mishap at a unit of the Haldia Petrochemicals (HPL) in East Midnapore district of West Bengal.
The Reserve Bank (RBI) has made it easy for telecom companies bidding for third generation (3G) mobile spectrum to borrow money from abroad, while tightening the norms for others.
State-run Oil and Natural Gas Corporation"s deep-sea project in Brazil has begun crude oil production and output is projected to touch 1,00,000 barrels a day soon.
The markets rose steadily for the better part of the week on news of robust GDP numbers and allaying of fears on the Dubai repayment crisis. The S&P CNX 500 index rose over 4 per cent to 4,239, thereby taking the benchmark’s portfolio value higher to Rs 11.04 lakh as against Rs 10.60 lakh in the preceding week.
The European Aeronautic Defence and Space Company (EADS), a global leader in aerospace, defence and related services, is keen to forge partnership with the Indian Space Research Organisation (ISRO) on supersonic and hypersonic aeroplane technologies, a top company official said.
Says government needs to increase subsidy on kerosene and LPG
The Central Bureau of Investigation (CBI) has filed a memo in a local court seeking its permission to hear the charges against the accused in the multi-crore accounting fraud case in Satyam Computer, on the basis of material it provided in the first charge sheet.
The year 2009 saw insurance firms waiting for easing of foreign direct investment (FDI) norms, just as they have done every year for the last five years, but there is promise of the law being amended to this effect next year.
Financial inclusion, the process of ensuring access of timely and adequate credit by the vulnerable groups at an affordable cost, has been achieved in thirteen districts of Orissa.
Huawei, Samsung, Alcatel-Lucent, Hitachi may also bid.
In the turf war between the battered CPI(M) and its arch rival, Trinamool Congress, veteran Congressman and Union Finance Minister Pranab Mukherjee has found a new place of prominence.
Both Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) are set to miss the mobile number portability (MNP) deadline of December 31.
The markets are trading in the positive zone as global markets have improved on news of easing Dubai fears. Abu Dhabi has lent $10 billion to Dubai as emergency funds.
Union Minister for New and Renewable Energy Farooq Abdullah and Punjab Chief Minister Parkash Singh Badal laid the foundation stone of the 60 Mw biomass-based Green Energy Power Plant of Lakshmi Energy and Foods Limited (Lakshmi Group) at Khamanon village of Fatehgarh Sahib in Punjab.
The rupee today rallied by 42 paise to close at a 16-month high of 45.34 against the US dollar on heavy selling of the American currency by exporters and banks amid flat local equity markets.
Subir Roy / New Delhi October 14, 2009, 0:00 IST
The NSE Nifty ended (provisional) at 4,568, up 44 points. The BSE Sensex ended (provisional) at 15,378, up 147 points.
The Sensex is now at 15,375, up 144 points. The NSE Nifty is at 4,566, up 43 points.
If you thought a job is something people are dying to hold on to when the going in the market is tough, you couldn"t be more wrong as a survey has found that more than half are ready to quit work, switch professions or take a break.
During the last few weeks of the year, accounts departments of companies start asking employees to give documents to back up their section 80C declaration made at the beginning of the financial year.
Worldwide industry vertical market IT spending is projected to total $2.28 trillion in 2009, a 6.8 percent decline from 2008, according to Gartner, an information technology research and advisory company . Analysts predict the market will return to growth in 2010, when it will grow at 2.3 percent to reach $2.34 trillion.
Commending the role of Indian navy in fighting pirates at the Gulf of Aden, the world"s maritime controlling agency has awarded a special certificate to the forces.
Mahesh Vyas / New Delhi January 2, 2010, 0:54 IST
Even as the government is gearing up to auction radio waves for the next generation mobile services, credit rating agency Fitch today said it is closely monitoring the impact of the cost for pan-India 3G licence on the revenues of Bharti Airtel.
Andhra Pradesh chief minister said the Telugu film industry, headquartered in Hyderabad, has hinted at moving to new locations if the turmoil in the state continued.
Former Union Minister Vilas Muttemwar, in a letter to Congress President Sonia Gandhi, has demanded for a separate Vidarbha state.
Calling for a national discussion on replicating the Gujarat model of making voting compulsory, the BJP today criticised the Congress and Left parties for opposing it "without applying their minds."
A stuttering GDP growth and high-base effect are likely to push same store sales (SSS) growth and profitability of Indian retailers in the red zone for the January-March 2009 quarter, research firm, Macquarie, said.
Textile and apparel group SKNL today reported 74.6 per cent jump in its net profit to Rs 80.7 crore for the third quarter ended December 31, 2009, compared to the same period last fiscal on the back of robust growth in its domestic business.
Business Standard / New Delhi January 1, 2010, 0:17 IST
The next date for arbitration hearings on the terms of sale of the government’s residual 49 per cent stake in Bharat Aluminium Company (Balco) to Sterlite Industries is January 31. A three-day hearing by a panel of three retired judges of the Supreme Court concluded today.
A K Bhattacharya / New Delhi October 27, 2009, 0:48 IST
Business Standard / New Delhi October 27, 2009, 0:41 IST
The first thing that our government did in 2004 was to implement a large number of programmes to immediately reach out to the farmers and other rural artisans who were in serious distress. These included waiver of the power dues of farmers, supply of seven hours free power to farmers, reschedulement of loans and interest, etc.
Infosys BPO, the outsourcing arm of Infosys Technologies, today said it has partnered with the American Institute for Chartered Property Casualty Underwriter and the Insurance Institute of America (the Institutes) to enrich its insurance vertical.
SBI Caps heads global loan chart; power sector dominates.
Infosys BPO is likely to get a new Chief Executive Officer (CEO) by January 15, a top company official said.
Housing finance companies step in to provide loan to customers turned away by banks.
China’s growth probably exceeded the economy’s speed limit in the fourth quarter, escalating pressure on Premier Wen Jiabao to withdraw stimulus measures even as the government seeks to strengthen domestic demand.
Green chilli, fried and crumb-coated ice creams sting the tastebuds and emerge winners.
Business Standard / New Delhi October 7, 2009, 0:20 IST
Marking the International Day of Non-Violence, the United Nations has released a stamp of Mahathma Gandhi on the occasion of his 140th birth anniversary.
Steel magnate L N Mittal is today believed to have proposed setting up a Rs 30,000 crore integrated steel plant in Karnataka when he called on the southern state"s Chief Minister B S Yeddyyurappa.
The government said today the role and responsibilities of independent directors on the boards of companies would be fixed as also the number of firms they could represent once the Companies Bill, 2009, became a law.
While launching a report on ecosystem services and biodiversity, Jairam Ramesh Union minister of state (independent charge) for environment and forests said that he didn"t know that there also existed blue and brown carbon besides green and black carbon. “These colours of carbon can be the answers to Benetton,” he joked.
Global brewer Heineken will buy the beer business of Mexico-based Fomento Economico Mexicano, SAB de CV (FEMSA), in an all share transaction worth $7.6 billion.
ONGC and ONGC Videsh (OVL), the overseas investment arm of ONGC, in association with the Hinduja Group and Petronet LNG, have entered into two broad enabling agreements with Iranian authorities for participation in development of gas fields and liquefaction facilities in Iran, in return for assured minimum six million tonnes a year of LNG on long-term basis. ONGC made an announcement on the Bombay Stock Exchange (BSE) today.
Abu Dhabi Commercial Bank PJSC may be owed $1.9 billion by Dubai World, making it the largest creditor outside the emirate to the state company seeking to reschedule debt, said two people familiar with the companies.
All Sachin Tendulkar fans, who are already on a high celebrating the master blaster"s 20 years in international cricket, have another reason to rejoice as they now have a chance to own a bat autographed by him.
India"s position that disgraced Pakistani nuclear scientist A Q Khan could not have acted individually stands vindicated with his admission that Islamabad was involved in the proliferation activities involving China, Iran, North Korea and Libya, experts say.
Acknowledging the staff crunch in the state Industrial Training Institutes (ITIs), the Uttar Pradesh government will start new recruitments and effect rationalisation of existing heads to tide over the crisis.
Describing the third quarterly performance of the bank as "very positive", ICICI Bank Managing Director and CEO Chanda Kochhar today said the bank has emerged stronger on all parameters recording an operating profit of 22 per cent minus treasury income.
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).
The Bombay Stock Exchange today said Torrent Power will replace Reliance Petroleum on the BSE-100 index with effect from September 25.
Ranbaxy Laboratories has entered into a licensing agreement with South Korean firm Medy-Tox Inc for selling its cosmetic product, Neuronox, in India.
The government today asked the Khadi and Village Industries Commission (KVIC) to ensure an early disbursement of Rs 400 crore subsidy under an employment guarantee scheme for 2008-09 pending with the banks.
The below-average monsoon this year and the subsequent shortfall in the production of sugarcane in India will see the prices of Indian Made Foreign Liquor (IMFL) increase by 10-15 per cent in the next financial year, say industry experts.
Even as most analysts are saying the worst of the economic downturn is over, a survey by the PHD Chamber of Commerce reveals only 30 per cent of the respondents plan to increase their hiring activity.
Companies across the world have continued to send employees overseas to take advantage of business opportunities, despite a reduced budget for international assignment programs during the economic downturn, a KPMG survey said.
In a significant move, the government has decided to allow private funding in setting up some of the proposed 14 national universities, which would be of world class standards.
Key roadblock: Constitutional amendment required to provide wider taxation powers to Centre, states.
Chief minister B S Yeddyurappa on Sunday vented his ire on the legislators engaged in “political games” and said the party was seriously viewing the activities of “some legislators who are on jolly trips” at a time when they should be providing relief to the flood-affected.
While housewives across the country are complaining about high inflation levels, Mother Dairy has come up with a great advertising idea. It has put out advertisements saying it has not hiked prices of its toned milk and full cream milk. The move comes at a time when some of its competitors (like Amul) have raised prices. Mother Dairy says the advertisement has been issued in the public interest.
The latest GST move is why the tax holiday notifications are being sought to be ended by March 2010.
The oldest brand in the non-salt biscuits segment is fighting back to regain market share
More than 150 entrepreneurs participated in business guidance and mentoring camp at Ludhiana organised by Punjab Infotech in association with TiE Punjab & Chandigarh for MSMEs. The campaign aims to take mentoring – TiE’s key value proposition and core philosophy – to Tier 2 cities across India and help entrepreneurs realize their dreams and is a part of TiE’s Pan-India campaign called "Enterprising India – Changing the nation. Leading the World".
The Australian government today gave green signal to the construction of the Gorgon gas project on Barrow Island worth $50 billion off the West Australian coast on few conditions.
Insurance regulator IRDA would soon announce disclosure norms for insurers wanting to raise money from the capital markets.
As probe intensifies, says he’s being framed since he’s a tribal.
The Bombay Stock Exchange (BSE) today said it has decided to include 25 scrips in thw BSE mid-cap index with effect from January 11.
Hinduja Group’s flagship company Ashok Leyland’s Rs 1,300-crore Pantnagar (Uttarakhand) plant is likely go onstream within the next few months. The plant would have an installed capacity of 50,000 units of commercial vehicles annually.
Samsung has got its act together in mobile handsets. The journey forward could be tough.
Eicher Motors today said its net profit for the quarter ended March 31, 2009 stood at Rs 6.16 crore, while it had a net profit of Rs 19.46 crore in the corresponding period previous fiscal.
Foreign fund house Deutsche Securities Mauritius has hiked its stake in commercial-vehicle maker Eicher Motors to 5.17%, after purchasing fresh shares through an open-market transaction.
The country"s largest steel maker, Steel Authority of India (SAIL), today said it has cut prices of its long products — used primarily in construction — by Rs 1,500-2,000 per tonne and may further lower the rates if the situation so warrants.
The surge in swine deaths in the country continued today with five more people succumbing to the deadly virus, raising the death toll to 208 even as the government said Tamilflu drug will be available in 480 select chemist outlets.
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.
The Supreme Court today set aside the Delhi high court order which had allowed the Indian company, Gufic Ltd, to use the name ‘Cliniq’ in its skin care product. The bench headed by Justice B Sudershan Reddy vacated the order on the appeal of Clinique Laboratories against the high court order.
Swiss pharmaceuticals company Novartis AG said today it has successfully produced a first batch of swine flu vaccine weeks ahead of expectations.
Indian drug firm Sun Pharma may have to shell out up to Rs 1,000 crore this fiscal for acquiring Israel-based Taro Pharmaceuticals.
Oscar-winner A R Rahman’s victorious run at awards ceremonies continues with the music maestro now fetching two nominations at the 2010 Grammy awards for his soundtracks from ‘Slumdog Millionaire’.
Israeli drug maker Taro Pharmaceutical Industries has reported a profit of $12.49 million for the three months ended June 30, a decline of 4 per cent over the same period a year ago.
Men’s fashion will no longer be the neglected child of the Indian fashion world. While women’s fashion has almost two events every year, men’s fashion shows are showcased on the periphery. All this will soon change with the announcement of the Van Heusen Men’s Week by Fashion Design Council of India (FDCI) in September this year.
To combat threats of climate change, India will soon unveil a detailed roadmap for a low-carbon growth strategy, Environment Minister Jairam Ramesh said today.
The country"s largest car maker, Maruti Suzuki India (MSI), has temporarily stopped production of its mid-sized sedan SX4.
The Supreme Court today issued notices to the Centre, pharma major Cipla, Ranbaxy Lab, Hetero Drugs, Natco Pharma and others on a pettion filed by Swiss firm Novartis AG challenging the denial of patent for its blood cancer drug Glivec in beta crystal form.
Businessstandard / New Delhi December 27, 2009, 0:14 IST
Orissa overnment today asked Posco-India to focus on welfare of people who would be displaced by the company"s Rs 52,000 crore steel project, which is facing resistance from locals.
Jagdish Khattar wants to fill the gap in the service infrastructure for cars. Will he succeed?
Notwithstanding the presence of global steel giants like ArcelorMittal and Posco in the country, domestic steel firms are still "better placed" to grow in the lucrative Indian steel market, global research firm Macquarie says.
While the deal looks beneficial for Uttam Galva as well as ArcelorMittal, the former’s stock has captured most of the positives making valuations expensive
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.”
The stock price of Uttam Galva Steels today hit the upper circuit on the stock exchange after ArcelorMittal, the largest steel maker in the world, said it would make an open offer to buy an additional 29.4 per cent stake in the company from the public at Rs 120 a share.
The government has granted one year extension to Satyam Computer Services for completion of three special economic zones (SEZ) in Andhra Pradesh, giving elbow room to the new management of the IT firm.
Former BJP Chief Rajnath Singh today cautioned the UPA government against implementing Ranganath Mishra Commission recommendations on minority reservation, claiming that it will promote religious conversion and affect the unity and integrity of the country.
- TMC firm in opposing joint operations - Protesters hold blockades, transport hit - All-party meet on Telangana begins - Students to block national highway on January 5 - Centre strategises for today"s meet - No flip-flop on Telangana, says Chidambaram
To make up for 80% of losses incurred by component suppliers
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.
30 companies in queue for Cabinet nod in Jan
The Allahabad High Court today quashed UP government"s notification for use of emergency powers to buy land for Anil Ambani group firm"s Dadri power project, side-stepping a provision for inviting objections from land owners.
After forcing Amar Singh to resign from all key posts of the party, the Samajwadi Party (SP) leadership has decided to ignore Singh completely. Singh is still blogging relentlessly against the party leaders on Twitter. But SP is unperturbed. “Who has the time to read those tweets? That will hardly create any impact,” quips Ramgopal Yadav, party chief Mulayam Singh Yadav’s brother and an SP general-secretary. What about a rebel Singh’s presence in the Rajya Sabha during the Budget session? The SP leadership has an answer. “The party will decide who will participate in debates and Singh is unlikely to get a chance to talk,” said a senior SP leader.
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