Corporate
Aiming to make safe drinking water affordable to rural masses, Tata Group company Tata Chemicals today unveiled a water purifier named Swach under Rs 1,000 price tag and announced Rs 100 crore investment over the next five years for the project.
Asian markets are mixed this morning. The Hang Seng has dropped 112 points to 21,702. However, the Nikkei has added 100 points (1%) to 10,184.
Minutes after the National Stock Exchange (NSE) announced that it would start equity trading from 9 am from Friday (December 18), rival Bombay Stock Exchange (BSE) followed suit.
The markets are likely to open on a flat note this morning on the back of mixed global cues. The indices yesterday attempted a pullback but eventually ended with marginal gains as selling pressure persisted on every rise.
Analysts say the company has not focused enough on the scooter segment as it saw bigger opportunity in motorcycles.
Premier of Australia"s Victoria provience, John Brumby said victoria was one of the attractive destinations for trade and business investment and opportunities and invited Indian companies to invest and expand their global operations in Victoria.
The markets are likely to open on a flat note amid mixed cues from the global markets.
Nasik-based Vinsura Winery will be launching three products by mid-January priced at Rs 1,000 and above, a top company official said.
Pulsar’s new variant, to be unveiled next week, will retain the looks of a big bike, but the engine will be 135 cc.
Beverages maker Coca-Cola today announced its foray into the energy drink segment in India with the launch of "Burn".
Australia today became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, declaring the risk of recession over.
Hershey Co’s controlling trust wants the candy company to make a $17 billion bid for British confectioner Cadbury Plc, the Wall Street Journal reported, citing unidentified people familiar with the matter.
With an aim to rope in a strategic partner for its Haryana SEZ project, corporate giant Reliance Industries is believed to be in talks with IL&FS and a couple of other players for part-sale of its stake.
IL&FS Transportation Networks today said it has qualified for 15 highway projects worth Rs 16,000-crore even as it will start toll collection on the 124-km Beawar-Gomti stretch by June next year.
The Sensex is quoting at 17,013, higher by 30 points and the Nifty is at 5,076, up 9 points.
In yet another feather to its cap, the Incredible India campaign bagged the prestigious Grand Prix Award. Tourism Minister Kumari Selja received the award for the Incredible India promotional film in Vienna yesterday.
Welcoming public-private partnership in efforts to provide affordable housing, Union Housing and Urban Poverty Alleviation Minister Kumari Selja today said it was increasingly being seen as a commercial opportunity and not just a welfare programme.
Falcon Realty today announced its plans to build eco-friendly housing projects at affordable prices starting from Rs 5.5 lakh in various cities of Bihar.
China had recently objected to Asian Development Bank"s (ADB) funding an irrigation project in Arunachal Pradesh which is a "clear violation" of the charter of the multilateral lending agency, the government informed the Rajya Sabha today.
The Board of Approval (BoA), the apex body which clears special economic zone (SEZ) projects, will meet next month to approve fresh proposals.
Opposition members expressed concern in the Lok Sabha today over the server crash during the CAT examinations that affected hundreds of students all over the country.
Over 2.4 lakh aspirants will vie for entry to the prestigious Indian Institutes of Managements (IIMs), the Common Admission Test (CAT) for which will be computer-based for the first time this year.
Business Standard / New Delhi October 21, 2009, 0:13 IST
Scientists have created visual systems which they claim would help unmanned aircraft see for themselves as they fly fast and low over dangerous terrain.
The stock slipped to a low of Rs 56 and finally ended at Rs 56, down 1.5% from the previous close. The counter clocked volumes of 3.98 million shares on the BSE.
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.
The limited review of the first quarter results of Kingfisher Airlines has raised questions about the accounting standards being followed by the airline. The review report says that besides other irregularities, tax expense and employee cost were reported 27 per cent and 21 per cent less, respectively.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
DHL, world"s leading logistics company announced today that its freight forwarding division DHL Global Forwarding has signed a security partnership with Air India-SATS, Bengaluru.
The robust growth in net profit in the second quarter seems unlikely to be repeated soon for cement companies, as prices in the south and west have been falling since October, with the increase in supply outstripping demand.
More than a month after the unceremonious exit of the controversial oil regulator V K Sibal, the government has begun scouting for a new head of the Directorate General of Hydrocarbons (DGH).
Mangalore Chemicals and Fertilizers Limited (MCF), a UB Group company and manufacturer of fertiliser, is planning to expand its specialty fertiliser business in the next couple of years. The company, which has over 50 new generation fertiliser products in its basket, plans to expand the business through its integrated nutrient management division, set up four years ago.
Asian stocks rose, lifting the MSCI Asia Pacific Index to a two-week high, on speculation the Bank of Japan would enact measures to limit the yen’s gains, and as Chinese manufacturing grew at the fastest pace in five years.
The country"s biggest two-wheeler maker Hero Honda Motors today reported 74.05 per cent jump in its sales in December 2009 at 3,75,838 units as against 2,15,931 units in the same month last year.
Business Standard / New Delhi November 23, 2009, 0:54 IST
Spending target raised to Rs 53,000 crore for 2007-12.
While Maruti had a stupendous quarter on the back of rising volumes, the stock price reflects these gains.
The apex body of state-run firms SCOPE welcomed the Cabinet decision to grant Maharatna status to four CPSUs, saying it will enable them to take major financial decisions quickly and compete globally.
The stock gained 3 per cent to Rs 525.60, after the company successfully raised Rs 73 crore by private placement of shares with qualified institutional buyers. The board of directors had allotted 1.45 million equity shares at Rs 506 per share, including premium of Rs 496 per equity share.
The stock extended gains and surged to a new 52-week high of Rs 360 - up 6.5%. It finally ended at Rs 355, up 4.7%. The counter clocked comparatively heavy volumes of 15,401 shares as against its two-week daily average trade of 3,486.
Hospitality firm Viceroy Hotels today said it has approved the proposal for raising up to $15 million or Rs 70 crore through qualified institutional placement (QIP).
The issues of land acquisition and ways to remove problems faced by foreign and domestic investors, especially at the implementation stage, are likely to come up at a meeting the Centre will hold with state industry ministers here tomorrow.
Viceroy Hotels ended at Rs 54, higher by Rs 1 or 2.6%, on the BSE.
To help India attain low energy-intensive growth, the World Bank aims to increase its lending to the country’s clean-power generation and energy-efficiency programmes.
Sunil Jain / New Delhi January 5, 2010, 0:50 IST
There is a flicker of hope for Tata Motors’ abandoned Singur site. A team from government-owned Bharat Heavy Electricals Ltd (BHEL) today visited the place, along with state government officials, for a possible project with the West Bengal Power Development Corporation.
Move appears inevitable to boost localisation content, for cost control.
Swaraj Baggonkar / Mumbai November 10, 2009, 1:10 IST
Guess what were the advertisements you saw most on television in November. Not sure? Well, personal care products, primarily toilet soaps, were the most advertised products on TV last month, data from TAM Adex, a unit of TAM Media Research, which tracks advertising across media show. The share of toilet soaps was 5 per cent, similar to that of October.
Olympic gold medallist Abhinav Bindra tells us how, when he wanted to quit his sport, the competitor in him just didn’t allow it
fashion designer Wendell Rodricks, in his activist avatar, keeps the goan cause afloat.
Tata Steel has invested Rs five crore on developing the Dharani Dhar sports complex at Sankarpur in Keonjhar.
Wiser from last year’s free fall, realty companies discovered a new mantra in ‘affordable housing’ and found help from banks that offered low-interest home loans to build their businesses in 2009.
Calls made from the mobile handsets without International Mobile Equipment Identity (IMEI) number are being rejected by the cellular operators from this week, the Rajya Sabha was informed today.
In a significant development, India has banned the import of mobile handsets without International Mobile Equipment Identity (IMEI), a unique identification number.
Battery major Exide Industries today said its net profit rose by 48.90 per cent to Rs 122.40 crore for the quarter ended June 30, 2009, over the same period last year.
Maruti Suzuki India (MSI), the country"s largest car maker, today said it will launch a new van within this fiscal to replace its MPV Versa, whose production has been stopped.
The Advocates Association of Bangalore today demanded the transfer of Karnataka High Court chief justice P D Dinakaran who faces an impeachment motion for alleged disproportionate assets and land-grabbing.
Carmaker Fiat India Automobiles today said it will consider raising prices of its products as the margins are under pressure.
R Gopalan, a 1976-batch IAS officer, has been appointed as the Financial Services Secretary in the Finance Ministry.
The committee set up to look into the issue of regulating investment advice would submit its report to the government by the month end.
The International Monetary Fund (IMF) wants India to gradually eliminate the norms that make it mandatory for banks and other saving funds to park a portion of their funds in government securities.
Tata Steel plunged over 4% to settle at Rs 443. The counter saw trades of around 4.80 million shares against its two-week average quantity of 4.15 million shares.
In order to check price escalation in pulses, Gujarat government has imposed stock limit on pulses. As per the notification issued last week, the stock limit for whole-sellers is 100 tonnes and for retailer it is 50 tonnes.
Finance Minister Pranab Mukherjee today expressed optimism that it would be possible to clock over six per cent growth rate in the current fiscal and said there is no scope for anxiety in pursuing reforms in financial sector and disinvestment.
Higher other income, positive currency movement and enhanced focus on operating discipline aided Patni Computer Systems post net income (India GAAP) of Rs 135.9 crore for the second quarter ended June 30, 2009, an increase of 14 per cent from Rs 119 crore in the corresponding quarter last year.
With the state-owned BSNL’s 93-million-line tender once again the subject of a controversy, it’s but natural to elicit the views of Ericsson’s global president and CEO CARL-HENRIC SVANBERG on this. Svanberg, however, refuses to bite, except to say that the tendering procedures for BSNL have to be so transparent, it is not surprising they take so long. He is more concerned about how telecom can save the world from global warming and how India can transform itself with 3G technologies. Excerpts from an interview with SUNIL JAIN:
Ajay Modi / New Delhi September 17, 2009, 0:39 IST
Business Standard / New Delhi September 24, 2009, 0:57 IST
Sugar prices, already at record highs, are set to rise further. The food ministry has decided to raise the levy price at which it buys sugar from mills to supply the public distribution system (PDS) by 50 per cent in Maharashtra and 63 per cent in Uttar Pradesh (UP) for the new sugar season starting next month. The two states account for 55 per cent of India’s sugar output. Prices have also been revised for other sugar purchasing states.
NLC net rises marginally
Tata Power today announced the completion of allotment of $300 million Foreign Currency Convertible Bonds (FCCBs) on November 20.
The scrip rebounded into the positive to touch a high of Rs 553 and finally ended flat at Rs 545. The counter clocked volumes of 4.67 million shares as compared to the two-week daily average traded volumes of 2.44 million shares on the BSE. _____________________________________________________
The losses can be attributed to costlier raw material, higher restructuring cost and operating pressure at its Teesside operations.
Balrampur Chini Mills, one of the leading sugar producers of the country, has posted a rise of 193 per cent in its net profit at Rs 42.73 crore for the quarter ended September compared with Rs 14.58 crore in the corresponding quarter last year. The company"s net sales during the quarter, however, decreased around 8 per cent to Rs 378.9 crore from Rs 411.72 crore.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said today.
Business Standard / New Delhi January 1, 2010, 0:28 IST
US companies such as GE Hitachi Nuclear Energy, Westinghouse and Babcock & Wilcox have made a strong case for an early passage of the Civil Liability for Nuclear Damage Bill by Parliament. The Union Cabinet has already cleared the Bill, which is expected to be tabled in Parliament during the ongoing winter session.
With better faculty and student facilities, Oxford has retained its top position among Britain"s leading universities for the eighth successive time this year, leaving behind Cambridge.
Stating that Nationalist Congress Party (NCP) won"t join the Congress-led government in Maharashtra till the issue of portfolio sharing was resolved, Deputy Chief Minister Chhagan Bhujbal today said his party is ready to extend outside support to the new government till then.
The government today said it does not maintain statistics of Muslim employees in Central government services but it has data for the five minority communities as a whole.
Shree Renuka Sugars has applied to the NCDEX for surrendering its trading membership, which will pave the way for the country"s leading sugar refiner to buy 5 per cent stake in the exchange.
Sreelatha Menon / New Delhi October 27, 2009, 0:11 IST
The Lok Sabha today post facto put its seal on merger of the State Bank of Saurashtra (SBS) with State Bank of India (SBI) amid opposition from Left parties.
Driving consumption among middle and lower income consumers, collaboration between retailers and suppliers, understanding consumers is the mantra to grow modern retail in the coming days as the sector comes out of slowdown blues, say fast moving consumer companies (FMCG) and organised retail chains.
As a precautionary step against swine flu, Aditya Birla Retail has provided its employees with masks to be worn in stores and is making sure they get treated even for a mild disorder.
Oil and Natural Gas Corporation (ONGC) has opposed finance ministry directive of parking its surplus funds with only PSU banks saying it is losing Rs 360 crore of interest revenues annually as state-run banks offer lower interest rates when business is given to them on nomination.
The government today said the total service tax collected from stock broking firms reduced to almost half in the last fiscal when compared with the previous fiscal.
India is back on the radar of global investors even in the midst of the global financial crisis, with 56 per cent year-on-year rise in inflows of foreign direct investment in July this year, an official said.
Indiabulls Power Ltd, partly owned by billionaire Lakshmi Mittal, got more than Rs 6,480 crore ($1.4 billion) of bids, or 5.8 times the shares being sold in its initial public offering (IPO).
Gross non-performing assets up 23% in 12 months.
Apparel and FMCG segments will be the driving forces for the Indian retail sector, which is likely to grow annually by 9 per cent to touch $521 billion by 2012, a senior retail industry official said.
In an indirect warning to Delhi, the Reserve Bank of India (RBI) today said central banks could find it tough to maintain price stability if governments continued to incur large deficits.
The banking stocks continue to rule high on the back of stimulus measures by the Reserve Bank of India that helped revival of economic growth and attraction of foreign funds. Key economic data like the recent Index of Industrial Production (IIP) indicated likely swift recovery of the economy. Factory output at 10.4% in August registered the highest growth rate in 22 months.
Trouble in BJP deepened today with Yashwant Sinha quitting as Vice President even as party President Rajnath Singh threatened action against leaders violating party discipline and airing their views in public.
As the three dissident ministers continued their defiance against him, chief minister B S Yeddyurappa today talked tough, hinting at "stern action" against them. "These people cannot cow me down. They are worried about my popularity graph," Yeddyurappa told reporters here, as he hit back at the three ministers who had launched a strong attack on him at a function in their home district of Bellary yesterday.
ICICI Bank today said it would reduce its stake in BPO company Firstsource in a phased manner, even as there are reports of appointment of a merchant banker for exiting from the outsourcing company.
The stock dipped further to a low of Rs 19.50 - down 7% from the day"s high. It finally ended with a 5% loss at Rs 19.75. Over 7.41 million shares were traded on the BSE today.
The condition of 95-year-old marxist patriarch Jyoti Basu, who is suffering from acute pneumonia, today continued to be critical and he is being given ventilatory support, doctors attending on him said.
Public sector lender Bank of India today reported a decline of 57 per cent in net profit to Rs 323.34 crore for the second quarter of current fiscal, over the same period a year earlier.
Is it better to invest short-term money in an arbitrage fund instead of liquid funds? The returns from the former, being equity-oriented, are tax-free after a year, while those of a liquid fund, which is a debt fund, would be taxable. More, in a falling interest rate scenario, liquid funds are not expected to return 8 to 9 per cent as earlier. On the other hand, arbitrage funds can comfortably return 7 per cent. Suggest some good arbitrage funds.
Over the past two decades, India is being viewed as one of the premier destinations for the global foreign direct investments. These investments have been the major supplement of the growth story of the country, particularly in the areas of infrastructure, information technology and power.
Business Standard / New Delhi November 06, 2009, 0:34 IST
Industrial production grew by a whopping 10.4 per cent in August on the back of double-digit growth in mining, manufacturing and electricity sectors.
ICICI Prudential AMC has emerged as the top earner by providing a return of 8.73 per cent on the EPFO funds, invested by the private fund house during the nine months period ended June 30.
Bankers today said that the increase in the statutory liquidity ratio (SLR) limit would not impact the liquidity in the banking system in any significant manner.
The excise and custom collections from the northern region declined by 49.14 per cent and 18.21 per cent, respectively, in the first six months of this fiscal.
BS Reporter / Mumbai October 27, 2009, 0:18 IST
The country managed a reasonable economic growth of 6.1 per cent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and certain services like hotels.
Price may be raised to Rs 4,250 per mBtu.
Bimal Jalan / New Delhi July 26, 2009, 0:03 IST
Amid the economic downturn impacting companies worldwide, India Inc remains cautiously optimistic with just 16 per cent firms freezing salaries and as low as 6 per cent reducing pays for 2009-10, a survey by HR consultancy Hewitt Associates says.
Surjit S Bhalla / New Delhi December 26, 2009, 0:41 IST
The economic and financial status of emerging market economies like India would continue to improve in the days to come and the recent downturn would help accelerate the trend, a Deutsche Bank report said.
The Indian Institute of Management-Lucknow is organising an ‘India SME conclave’ on December 21 to discuss the competitiveness of the sector in the backdrop of the Free Trade Agreement (FTA) era. The small and medium enterprises (SME) sector is the growth engine of the Indian economy and contributes over 40 per cent to the country’s industrial output and around 35 per cent to direct exports. The theme of the conclave is ‘Low cost financing options and the impact of FTAs on the SME sector in India’.
Over 3000 Indian Institute of Technology (IIT) alumni from across the world will gather near here to participate in a global conference on technology and innovation that would be attended by President Barack Obama"s Chief Technology Officer Aneesh Chopra.
Market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares in the year 2000.
Car maker Honda Siel Cars India today said it has entered into a Memorandum of Understanding with private lender Axis Bank for vehicle finance.
India’s recovery from the global financial crisis is “still fragile”, according to Reserve Bank of India (RBI) Governor D Subbarao.
The Finance Ministry today said a road map for disinvestment in public sector units will be brought out in three-four weeks, but there would be no strategic sale.
Polling for by-elections to two Tamil Nadu Assembly constituencies began this morning amidst tight security.
Shree Renuka Sugars ended at Rs 229, up by Rs 7 or 3.3%, on the BSE. Over 4.07 lakh shares have changed hands at the counter. The stock hit a high of Rs 230 and a low of Rs 223 during the day.
ONGC Videsh (OVL), the overseas arm of ONGC, has entered into a memorandum of understanding (MoU) with Sistema, a diversified industrial group of Russia having investment in India’s telecom sector, to jointly acquire and develop oil and gas fields in Russia and other CIS countries.
Bharat Petroleum Corporation (BPCL) informed BSE today that BPCL, Oman Oil Company (OOC) and Bharat Oman Refinery (BORL) signed an agreement on November 15, 2009 in Oman on additional investment in BORL by OOC. OOC will invest be Rs 1,220 crore in BORL to hold 26 per cent of the equity share capital of BORL, after full equity closure.
Cairn India and its joint venture partners have decided to take up 4 dimensional (4D) seismic survey of Ravva field in the Krishna-Godavari Basin to further explore oil and gas reserves.
With the projected traffic of the port sector in the country pegged at 1570 million tonne per annum (mtpa) by 2011-12, the government will have to remove various impediments to achieve overall growth of the ports.
Two-wheeler maker Hero Electric today said it will start exporting its scooters to Latin America and Europe by the end of this fiscal and is looking for distributors in these regions.
In a major breakthrough, Oil and Natural Gas Corporation (ONGC) today signed agreements to pick up stake in a giant gas field and an LNG plant in Iran, which also awarded the rights to develop a gas discovery it made in the Persian Gulf two years ago.
The rupee today appreciated by 2 paise to 45.69 a dollar in early trade in line with other firming Asian currencies.
Business Standard / New Delhi November 26, 2009, 0:32 IST
India today proposed to invest $6.5 billion to develop gas fields in Iran and sought more liquefied natural gas (LNG) from that country.
Indian women may not have proportionate representation in companies, but they are better off than women elsewhere. Eleven per cent of 240 large companies — Indian-owned as well as multinational, private as well as state-owned — have women CEOs, according to a study carried out by executive search firm EMA Partners. In comparison, only 3 per cent of the Fortune 500 companies have women CEOs.
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.
The Dharwad division of the Insurance Employees’ Union has opposed the UPA government’s move to take up discussion and passing two bills pertaining to the insurance sector during the winter session of the Parliament that began on November 17.
Business Standard / New Delhi November 17, 2009, 0:10 IST
State-run Indian Oil Corporation (IOCL) has proposed to double its investments on its Research and Development in order to develop newer technologies, a top company official said today.
Blaze still on, investigation ordered
After a series of consultations with stakeholders, the government has formulated the ambitious National Solar Mission implementation plan to be launched soon.
In a fresh initiative, Prime Minister Manmohan Singh today expressed the Centre’s willingness to “talk to anyone” having “meaningful ideas” to promote peace in Jammu and Kashmir and offered to resume dialogue with Pakistan provided it curbed activities of those engaged in terrorism in India.
Two senior officials of AES Corporation are likely to visit Orissa on 17 November to hold discussion with the government officials pertaining to the proposed expansion of the unit-3 & 4 (660Mw x 2) of the IB Thermal Power Station of the Orissa Power Generation Corporation (OPGC).
The Nifty closed around 4,800 on Friday on short-covering by foreign institutional investors (FIIs) and strong global cues. However, the trading pattern on the F&O segment suggests that the index may face strong resistance above the 4,800 level. Technically, the Nifty has to cross its Friday high of 4,835 to keep its bullish momentum. If the index slips below its Friday low of 4,755, it may revisit the recent low next week. The SGX Nifty (November futures) closed at 4,767 as against its Friday close of 4,797 indicating weak opening on Monday.
The Nifty closed in the red on Friday due to profit-booking at higher levels. For the last nine trading sessions, the Nifty has been making lower lows and lower highs, which is a bearish indication. According to a technical analyst at HDFC Securities, unless the index stops making new intra-day lows, the correction will continue.
After a below par performance in the last two weeks, analysts are predicting another month of volatility for the Indian bourses, despite their firm belief in its long-term potential.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 647.45 crore in futures and options segments on Friday.
Mahindra Satyam slipped to a low of Rs 109 and finally ended at Rs 110, down around 7%. The counter witnessed trades of 46.44 million shares on the BSE as compared to the two-week daily average traded volumes of 7.23 million shares.
As part of strengthening e-governance initiative, Karnataka government today launched the Karnataka State Wide Area Network (KSWAN) that seeks to establish a state information highway connecting its 2300 offices across the state.
A committee set by the Petroleum Ministry to probe into the causes of the devastating fire at the IOC depot near here began its inquiry today by visiting the site.
The United States has won a case against China at the World Trade Organisation which has ruled that it is illegally restricting imports of movies, music and books into the country.
The Indian entertainment and media (E&M) corporates will prefer Hollywood over Bollywood in terms of investment in the near future, as over 90 per cent of the Bollywood movies flop annually, a study said.
Business Standard / December 27, 2009, 0:21 IST
The Satyam Computer accounting scam, slowdown and resultant hiring freeze by many made 2009 a forgettable year for the Indian Information Technology industry.
Business Standard / New Delhi December 17, 2009, 0:56 IST
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 793.85 crore to implement various projects in Tamil Nadu.
Survey expresses serious concern at food prices, farm growth.
The largest private sector lender ICICI Bank can soon operate as a local bank in Singapore, following an in-principal approval from the city-state.
GVK Power & Infrastructure, which recently took a 12 per cent stake in Bangalore International Airport Ltd (BIAL), has said it is open to taking a controlling stake in the airport.
Municipal Corporation of Greater Mumbai (MCGM) would regularise water connections to slums in the city that came up before 2000. The decision comes in the wake of an announcement made by Chief Minister Ashok Chavan to regularise water connections to pre-2000 slums.
The rupee today appreciated by 15 paise to 46.09 a dollar in early trade on sustained capital inflows into stock markets.
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
The database will be used to find out whether a company has a desirable social diversity.
Higher depreciation charges, interest and employee costs have brought down the net profit of Pantaloon Retail, the country’s largest retailer, by 54 per cent for the financial year 2009.
HCL Technologies has emerged as the best managed entity in the list of top 50 global outsourcing vendors for 2009 compiled by the Black Book of Outsourcing, which also features atleast eight other Indian IT services firms.
The rate war in Indian telecom has shifted to short messaging services (SMSes). Reliance Communications today announced a plan under which both pre-paid and post-paid subscribers of its GSM and CDMA services would be charged 1 paisa per SMS, if they paid Rs 11 a month.
Reliance Communications today said it has entered into an agreement with Financial Technologies Group firm atom technologies for using its mobile financial solutions.
Foreign institutional investors (FIIs) were net sellers of Rs 494.66 crore (provisional) today, according to data released by BSE.
The foreign institutional investors (FIIs) were net buyers of Rs 490.23 crore in futures and options segments on Friday.