Business Opportunities
Derivatives expiry, higher food inflation and lower earnings also weigh on indices.
The proposed All India strike from tomorrow in different steel plants under Steel Authority of India (SAIL) has been postponed following an assurance by the authorities.
The first 600 Mw unit of Rajiv Gandhi Thermal Power Project at Khedar in Hissar district, which will supply power to Haryana, was synchronised with the grid today by Chief Minister of Haryana Bhupinder Singh Hooda.
As many as six out of every 10 private equity companies have either frozen salaries of employees or are mulling to do so in near future as investments take a hit amid lower returns, says a study.
Institutional investors are exercising caution when it comes to their commitment towards private equity funds and the volume of funds raised in the second quarter this year fell by more than half to $79.7 billion over the same period last year, says a survey.
Advent International, the global private equity firm, today announced that P Jayendra Nayak has joined Advent’s Operating Partner Programme to advise on Indian investment opportunities, especially those in the financial services sector, and the development of Advent’s business in India.
Anil Ambani group firm Reliance Infratel is looking to raise about Rs 5,000 crore (close to $1 billion) through sale of shares, for which it is in talks with a number of private equity firms.
Factory productions expanded at a greater pace for the second month in a row growing by 6.8 per cent in July against 6.4 per cent a year ago, signalling an industrial recovery.
FMCG major Dabur India Ltd is treading the rural path for growth in the hair oil segment.
State-owned Coal India Limited (CIL) has set a production growth target of 7.7 per cent during the current financial year, its Chairman Partha S Bhattacharya said.
India"s steel consumption rose by 5.7 per cent to 26.49 million tonnes in the first six months of the current fiscal over the same period a year ago on account of improved demand from sectors like automobile and consumer durables.
The Rs 22.21 crore pipe water supply scheme for 41 villages of Talcher, being funded entirely by Mahanadi Coalfields Limited (MCL), has got delayed.
Pantaloon Retail India, a part of Kishore Biyani-run Future Group, today said it has raised about Rs 500 crore through the issue of equities to qualified institutional buyers (QIBs).
Finance Minister Pranab Mukherjee on Tuesday submitted a copy of the draft direct taxes code to Prime Minister Manmohan Singh, in the wake of apprehensions in various quarters on a proposal by the draft code to tax the employees’ provident fund (EPF) at the time of withdrawal.
Copper manufacturer Hindustan Copper Ltd has said the unaudited financial results for the first quarter of 2009-10 would be delayed, and is likely to be published by August end because of technical problems in the newly installed software for enterprise resource planning (ERP) system.
Railway Minister Mamata Banerjee is not the only minister in the UPA cabinet who prefers a four-bedroom flat to a bungalow in Lutyens’ Delhi. Bijoy Krishna Handique, minister of mines, hasn’t shifted to a bungalow either and is quite happy to stay at his existing flat.
The heat from the cricket endorsement pitch is cooling, with rates falling between 25 and 50 per cent as advertisers shy away from new deals.
T N Ninan / New Delhi October 10, 2009, 0:22 IST
A former Silicon Valley serial entrepreneur sets up India’s first commercial solar power plant
Three friends went to college together, became software engineers, went to Silicon Valley, got cushy jobs and, after a few years, decided to become entrepreneurs. Sounds like a run-of-the-mill story? But this is where Tushar Makhija’s story takes a serious turn. It’s common to hear of entrepreneurs struggling to get that one big idea to start a business, but for Makhija and his two other friends, it was simply about taking inspiration from several popular online portals and creating a unique one of their own.
Facebook: Stock markets have wobbled of late, but has Facebook’s value really plunged by 35 per cent in just two months? For those unacquainted with Silicon Valley’s quirky financing that would be one conclusion to draw from the social networking website’s latest stock sale.
The government today said auction for 3G mobile spectrum would commence as per schedule from January 14 next year and allotment would be made to four private players simultaneously by August 2010.
To cash in on the demand surge in domestic markets as the threat from cheaper imports weakens.
Fortis Healthcare today said Wockhardt"s 10 healthcare facilities it has acquired would be rebranded as Fortis Hospitals.
Andre Dua / September 27, 2009, 0:01 IST
Hospital chain Fortis Healthcare today said it has got approval from the regulatory body Sebi for its Rs 997-crore rights issue for funding some of its expansion projects and its recent acquisition of Workhardt Hospitals.
Opto Circuits today said its wholly owned subsidiary, Criticare Systems Inc (CSI), has entered into a long term agreement with a European firm for supplying patient monitoring systems and anesthetic gas delivery products.
Medical devices manufacturer Johari Digital Healthcare Ltd is planning to foray into retail and medical spa space.
Opto Circuits gained over 2% to Rs 172. The stock touched a high of Rs 177 and a low of Rs 168 during the day. The counter saw trades of 194,633 shares as against its two-week average traded quantity of 470,711 shares.
The initial public offer of textile firm Jindal Cotex got subscribed 62 per cent on the third day of its issue.
The empowered group of ministers (EGoM) on the Dabhol power project discussed various issues at its maiden meeting on Monday, including stuck compensation claims.
Japanese Prime Minister Yukio Hatoyama today pitched for intensifying bilateral trade with India, particularly in infrastructure and technology, during his meetings with the doyens of Indian business and industry.
The stock gained 4.3 per cent to close at an all-time high of Rs 345.30, on reports that the company is in talks with Pfizer, world’s largest drug maker, to supply generic products for their drugs. As an ongoing business strategy, the company is seeking alliance with other companies for developing products.
Sixty seven per cent of domestic companies have chosen non-government organisations (NGOs) as partners to undertake their Corporate Social Responsibility (CSR) projects, while 58 per cent prefer government departments for the spread of CSR obligations, Associated Chambers of Commerce and Industry of India (Assocham) says. The chamber, in its assessment, ‘CSR: Quantitative Analysis’, said 21 domestic companies were working with multilateral or bilateral organisations for CSR activities. The study added 37 per cent of the firms had a well-structured foundation for implementing their CSR, while 58 per cent domestic companies had formed a separate department to implement CSR.
Holds an order book of 10-12 crore from Gujarat
Sees huge market in the US for ‘NuPatch’.
The government is likely to clear a proposal tomorrow suggesting release of inflation data on monthly basis and not every week for most items tracked by the Wholesale Price Index (WPI).
The Sensex after opening flat has now soared to a high of 16,885 on the back of buying in IT and metal stocks.
The Bombay Stock Exchange (BSE) will introduce a secured settlement platform for the Rs 1,500 crore Indian Corporate Debt Market (ICDM) next week.
Jet Airways surged further and zoomed to a high of Rs 412, up 25% from the day"s low. The scrip finally settled at Rs 398, up 9% from the previous close. The counter clcoked volumes of 1.28 million shares as compared to the two-week daily average traded volumes of 572,048 shares on the BSE.
Markets have started to recover.
Market regulator Sebi has directed all stock exchanges and other securities intermediaries to keep a strict watch on UN-listed terror funding entities, including the name of underworld don Dawood Ibrahim.
The Obama Administration has asserted that no condition has been imposed on Pakistan for the $2.3 billion Defence Authorisation Bill and charged an attempt is on to “willfully distort” the facts.
The Nifty moved in a narrow range of 5,040-5,090 on Thursday and closed in a Doji pattern, which points to a lack of direction for the market. Domestic markets were closed on Friday on the occasion of Gandhi Jayanti. In the backdrop of the US and European stocks witnessing an over two per cent correction in the last two days, the Nifty is likely to open gap down on Monday.
The September segment is offering fairly attractive spreads for option traders.
The Nifty closed above the resistance level of 4,350 on the first day of the new F&O series on short covering by foreign investors and long build-up in key stocks futures. If the Nifty could maintain support around this level, then we may see the index crossing the 4,500 levels during the coming week. Trading in the Nifty options suggests that the index can move above 4,400 with strong support at 4,300.
Foreign institutional investors (FIIs) were net sellers of Rs 478.80 crore (provisional) today, according to data released by BSE.
Ahead of the meeting between the prime ministers of India and Japan, the two countries today signed two agreements for developing the Rs 3,60,000-crore Delhi-Mumbai Industrial Corridor (DMIC) project.
Consistent procurement of defence equipment should throw up some multi-baggers in the next few years.
The total outstanding of the state owned Grid Corporation of Orissa Ltd (Gridco) reached Rs 3,111.19 crore by the end of 2008-09.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 184.85 crore in futures and options segments on Tuesday.
Internet services provider IOL Netcom today said its board has approved to raise Rs 1,250 crore by various funds raising options.
The Sensex has soared to a high of 17,270 and is now moving strong at 17,259, up 127 points. The NSE Nifty is at 5,127, up 37 points.
Exchange to launch mutual fund trading platform; BSE set to follow.
After having opened marginally in the red, the markets have rebounded in line with their Asian counterparts. Asia is largely trading in the green after the Federal Reserve raised the US growth forecasts for 2010. The US markets also ended off their lows, albeit marginally weak, after the Fed raised the GDP forecast.
Reliance Natural Resources Ltd (RNRL) today told the Supreme Court that the details of the family memorandum (MoU) splitting the industrial empire, including the gas supply agreement between Mukesh Ambani and Anil Ambani, was known to the board of Reliance Industries Ltd (RIL) and, therefore, should be binding on the latter.
Along with Subir Gokarn’s appointment as the fourth deputy governor, the Reserve Bank of India (RBI) today reshuffled some of the key portfolios of its deputy governors and executive directors.
The need is to identify free land areas, says steel secretary.
Tata Group-owned European steel maker Corus and Britain’s National Steel Co-ordinating Committee have agreed to establish a joint task force to ensure that all alternatives to mothballing the former’s Teesside Cast Products (TCP) facilities are examined.
Prime Minister Manmohan Singh today returned home after attending the UN Summit on Climate Change in Copenhagen where a US-brokered deal with India and other emerging countries that places no legally-binding emission cuts on developed countries ran into trouble.
The Government today made it clear that social security number is not mandatory for getting services from Employees Provident Fund Organisation as the present provident fund membership number will suffice.
The Orissa government is yet to submit a proposal for setting up of a National Mangrove Research Institute (NMRI) though the Centre had in principle agreed to locate such an institute in the state.
The Maharashtra government today said it has sought around Rs 1,170 crore Central relief aid for Phyan cyclone affected victims.
Snapping its two-day losing string, the Bombay Stock Exchange (BSE) Sensex today surged over 240 points on the back of a good show by European markets and realty and metal stocks.
The government has written to telecom operators, Bharti Airtel, Idea Cellular, Vodafone and Tata Teleservices, asking them to be punctual in sharing information with special auditors looking into revenue leakage.
The bandh call given by the Telangana Sadhana Joint Action Committee in support of a separate state passed off peacefully barring sporadic incidents across the Telangana region.
Pharma firm Jubilant Organosys today said it has joined hands with the University of Alabama at Birmingham and Southern Research Institute to benefit from their collective innovation and enabling technologies.
Lifeclinic India, a part of Lifeclinic International that manufactures and distributes automated blood pressure monitors and health stations, will set up about 100 anytime self-testing health kiosks, on the lines of public telephone booths, in Andhra Pradesh.
Bandhs and protests over the Centre"s move to create a separate Telangana state continued for the second day today, affecting normal life in coastal Andhra and Rayalseema regions of Andhra Pradesh.
The Nifty ignored all bullish indicators and closed below 5,000 on profit-booking and weak global cues. The close of 4,953 is marginally above the 61.8 per cent retracement level of 4,940. Hence, if it falls below this, it can retreat to 4,860. Also, the Nifty has gained over 10 per cent since the last week’s low of 4,538 and so more correction is possible in the coming days.
GlaxoSmithKline Consumer Healthcare is leveraging on Horlicks" brand equity to get into new categories. Will the move pay off?
P B Jayakumar / Mumbai September 25, 2009, 0:10 IST
The government is examining the economic climate for divesting its stake in state-run Shipping Corporation of India (SCI).
Drug maker Zenotech Laboratories today said reported Rs 3.41 crore loss for the quarter ended June 30, against a net loss of Rs 2.66 crore in the same period previous fiscal.
Sun Pharmaceuticals Industries today said it will contest the lawsuit filed by Taro Pharmaceuticals in the US district court, terming the case as an attempt to divert resources by the Israeli drug firm.
Sun Pharmaceutical Industries scrip rose Rs 32 or 2.3 per cent to close the day at Rs 1,429.20 on reports of US Food and Drug Administration’s (USFDA’s) nod for a generic drug.
Sun Pharma"s US-based subsidiary Caraco Pharmaceuticals has agreed to undertake a series of measures as per requirements of the US health regulator Food and Drug Administration (FDA) to get a ban on its manufacturing units lifted.
The Sensex has finally ended (provisional) at 15,881 - down 171 points.
Diversified firm Nava Bharat Ventures today said the company, through its Singapore-based arm, would acquire 65 per cent stake in Zambia-based Maamba Collieries for $26 million (about Rs 121 crore).
Sun TV Network will restructure its distribution business and team with the creation of two verticals one focused on managing the South Indian operations and the international business and the second focused on expanding the Sun TV bouquet into the north, west and eastern markets of India.
The seizure of Caraco’s drugs by the FDA could have an adverse impact on Sun Pharmaceutical in the near term.
Sun Pharma recovered partially from the day"s low of Rs 1,070, and finally ended 12% lower at Rs 1,140. The counter registered heavy volumes of around 580,400 shares, which is around 30-times higher than its two-week daily average volume of around 19,230 shares on the BSE.
The sugar industry is all set to challenge the recent amendment to the Essential Commodities Act, which seeks to introduce a fair and remunerative price (FRP) for sugarcane, besides absolving the government of a Rs 14,000-crore levy price obligation arising out of several court rulings.
Indian and Chinese stocks turned under performers in the third quarter of this year, compared with their BRIC counterparts, Brazil and Russia, which gave investors an average return of as much as 26 per cent in the period.
The stock markets ended the holiday-shortened week with a huge gain of 2.5%. The Sensex soared past 17,000 for the first time since May, 2008.
Investors were reluctant to buy or sell aggressively today ahead of a closely-watched US job report on Friday. The trading volume in Nifty futures and options (F&O) suggested mere change of hands as buy- and sell-side traders were evenly matched.
In a blow to the Securities and Exchange Board of India (Sebi), the Securities Appellate Tribunal (SAT) has set aside the former’s ruling in the case of Tata Tea, wherein Sebi had asked the company to pay non-compete fees to all shareholders of Mount Everest Mineral Water.
Bharti Airtel has a launched new offer, "Airtel Advantage" scheme, under which the GSM service provider will levy around 50 paise per minute for both national long distance call (STD) and local calls. Airtel has the largest telecom subscriber base with over 110 million people.
But countries like Canada, Poland, Vietnam are honing their skills
Currency volatility is a concern for India’s largest information technology company, Tata Consultancy Services (TCS). So much so, that it has taken new hedging positions worth $135 million (around Rs 630 crore) for the quarter ending December 31.
Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies, has forged an alliance with MortgageFlex Systems to provide offerings to the mortgage industry in the US .
The September 2009 quarter results of leading IT players suggest that the global telecom industry is not out of the woods. Indicatively, Infosys and TCS‘ telecom segments’ share in overall revenues posted a decline of 60-70 bps sequentially — even on an absolute basis, their telecom-vertical revenues were lower sequentially. Given the muted outlook for the telecom sector, the topline and operating performance of Tech Mahindra, which derives 60 per cent from Europe and about 50 per cent from its major client, British Telecom (BT), is reasonably good.
FMCG group Dabur, manufacturer of mosquito repellent Odomos, has challenged a Delhi High Court order dismissing its plea to restrain the advertisement of its rival brand Good Knight.
The board of directors of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) on Tuesday approved the proposal to create a joint venture company with APGenco. APIIC would have a majority 51 per cent equity share and APGenco the remaining 49 per cent.
The Andhra Pradesh government has sanctioned seven projects that are being set up at the Sri City Special Economic Zone and the APIIC Industrial Park in the state. These projects involve a total investment of around Rs 3,000 crore, according to Busi Sam Bob, Principal Secretary, state industries and commerce department.
Industry body Assocham today said the Reserve Bank"s panel suggestion to have base rate for lending would ensure transparency and efficiency in pricing loans, which the current system of BPLR does not provide.
Confusion seems to shroud the groundnut industry as production estimates by two of the leading associations in Gujarat show a huge difference of about four lakh tonnes for 2009-10.
Steel products maker Adhunik Metaliks today said it will raise over Rs 137.13 crore by issuing around 1.39 crore shares to qualified institutional buyers (QIB).
Expects to earn Rs 3,000 crore each year from new venture.
The country"s top-10 firms added over Rs 39,000 crore to their market capitalisation last week, with Oil and Natural Gas Corporation (ONGC) gaining the most.
Musicians from around the world are here for Jazz Utsav ’09. two of them tell us what to expect at the festival this year
American researchers claim to have proved that regular practise of meditation twice a day can significantly reduce chances of death in heart patients.
Intense debate on non-vegetarianism continues with flexitarianism emerging as the new diet fad.
A K Bhattacharya / New Delhi December 30, 2009, 0:02 IST
Describing reports that government was trying to privatise the public sector as a "malicious propaganda", Union Finance Minister Pranab Mukherjee today said the Centre"s policy was to strengthen PSUs and not weaken them.
Drawing a poor response, India"s largest oil and gas licensing round saw a total of 76 bids being received for 36 out of 70 blocks on offer.
Hit by volatile crude oil prices, Oil and Natural Gas Corporation (ONGC), the country’s largest oil exploration and production company, today reported a 26.94 per cent dip in its net profit for the quarter ended June 30. Net profit for the quarter was Rs 4,848 crore as against Rs 6,636 crore last year. The company’s turnover during the quarter slipped 25.84 per cent to Rs 14,922 crore.
State-run GAIL India will buy gas from Oil and Natural Gas Corp"s (ONGC) new field to come on production in Mumbai offshore from next month at $5.5 per million British thermal unit (mmBtu).
Markets today gained around 100 points on positive cues from the global markets and strong auto, cement and steel sales in December 2009.
The Tamil Nadu Housing Board (TNHB) is planning to carry out projects worth Rs 1,459 crore in 2009-10. The state-run agency, which is promoting affordable housing and commercial properties, is also looking at developing some of its properties through public private partnership.
Mukesh Ambani-run Reliance Industries (RIL) today said it has successfully tested the design capacity of its massive eastern offshore Krishna-Godavari basin D6 field production facilities.
Analjit to guard stake by pumping in money.
Compiling a bunch of unforgettables from Indian cinema is bound to create room for argument. Suveen Sinha finds plenty to disagree with M K Raghavendra’s 50 Indian Film Classics
In a relief to the Union Civil Aviation Minister Praful Patel, the Bombay High Court has disposed of a bunch of Public interest litigations (PILs) challenging deletion of his name as an accused in an old case involving a company dealing in automobiles.
Pepe Jeans India plans to open 50 more stores pan-India in the next 12 months which would give it a stronger market presence.
Trade unions have asked the government to shelve the proposal in the draft Direct Tax Code to tax all savings and provident fund schemes at the time of withdrawal, saying the move would hit the salaried class hard.
The scrip zoomed to a high of Rs 94 and finally ended at Rs 93, up 2.5% from the previous close. The counter clocked volumes of 30.16 million shares on the BSE as compared to the two-week daily average traded volume of 14.87 million shares .
K Rajani Kanth / September 18, 2009, 0:18 IST
Mahindra Satyam, the rebranded Satyam Computer Services, on Thursday announced the appointment of Vijayanand Vadrevu as the senior vice president – strategic initiatives.
We are always better analysts with a 20/20 hindsight. Indeed, an ex post reading about events leading up to a crisis appears logical, and often leaves one with the question about why the evolution of the crisis could not be seen and corrected in time. Still, policy-makers know that such a review and understanding are important to learning from mistakes. Restoring Financial Stability (Wiley) acts as a catalyst to that understanding by offering a comprehensive sequencing of the causes and progression of the build-up of the financial strains that, following the Lehman bust in September 2008, evolved into a full-blown global financial crisis. It is a collection of thematic essays by the faculty of the Stern School of Business at New York University.
With the industry gradually emerging from recession, business hotels are hoping to ring in the good times with more travellers demanding "smart hotels" with prompt service and good communication systems sans the luxury frills.
FMCG player Godrej Consumer Products today said it is ready to acquire some of its joint venture partner Sara Lee"s international businesses if the US-based company decides to sell its global assets.
Amway India Enterprises Pvt Ltd, a major direct selling FMCG Company in the country, is planning to open 4 new Brand Experience Centers (BECs) in Western region of the country by the next calendar year 2010.
Homegrown FMCG major Dabur India is keen on penetrating deeper into the hinterland of Uttar Pradesh to market its products.
The government today opened its arguments in the high-voltage gas row between the Ambani brothers in the Supreme Court asserting that any understanding reached between them was not binding on it as gas was not their "private property".
The country’s cotton yield has hit a four-year low in the current season, as the delayed monsoon disrupted sowing earlier. This is for the consecutive year that the country’s cotton output is estimated to slip below 30 million bales (1 bale = 170 kg). The cotton season starts from October and ends in September.
The government targets additional production of 8.5 million tonnes of foodgrain and 1.5 million tonnes of oilseeds in the rabi season this year to compensate for the loss of farm output in the summer season, Agriculture Minister Sharad Pawar said today.
Business Standard / New Delhi October 25, 2009, 0:31 IST
Godrej Group Chairman Adi Godrej today said global FMCG player Unilever"s move to acquire the personal care division of US-based Sara Lee will not have any impact on his group"s joint venture with the American firm.
To invest Rs 1,750 cr in 3 years.
With strong pricing power in cigarettes segment, revival in hotel prospects as tourism picks up and a healthy other business growth estimates ITC is in a sweet spot right now.
Pankaj Chandra, director of the Indian Institute of Management Bangalore (IIM-B), says it’s time now to take on the INSEAD and IMDs of the world.
Are Hindi-speaking markets and the four southern states really poles apart on TV viewing habits?
To avoid any kind of misuse or instances of cheating during the 10-day computerised Common Admission Test (CAT), which begins tomorrow, the Indian Institutes of Management (IIMs) have published a legal disclaimer which, if flouted by any student, can attract imprisonment and a fine.
Institute of Chartered Accountants of India (ICAI) has sought broad-ranging information about the association of its member institutions with foreign auditing firms.
Shivani Shinde / Mumbai October 16, 2009, 0:39 IST
Google India Managing Director Shailesh Rao has been appointed as Chairman of industry body The Internet and Mobile Association of India (IAMAI).
Global majors like Microsoft, Yahoo! and Google may have decided to trim their workforce worldwide, but these entities do have openings in India.
The Planning Commission today expressed optimism that economic growth during the current year will exceed 7 per cent, up from 6.7 per cent recorded during 2008-09.
Defending the Bus Rapid Transit (BRT) system, government today said it will be implemented in nine more cities.
The recent accident at the Delhi Metro site in South Delhi that claimed six lives was caused by "serious deficiency" in design and inadequate concrete strength, Lok Sabha was informed today.
The government today admitted that there was "rampant" killing of tigers in the country and said the big cats have became locally extinct in Sariska and Panna Reserves mainly due to poaching.
BS Reporter / New Delhi November 11, 2009, 0:31 IST
Nd Batra / October 25, 2009, 0:33 IST
Sensex, Nifty hit the first-ever upper circuit in history.
Rising demand for cleaner and cost efficient fuels, and the forthcoming Commonwealth Games are positive triggers for Indraprastha Gas.
While the jury is out on this, Onida says its products are the real heroes of the new campaign.
State-run Bank of Baroda (BoB) today reduced interest rates on its various maturity deposits by 25-75 basis points.
This week’s trade mini-Ministerial in Delhi is mainly about the US, observes Suman Bery
Bank of Baroda (BoB) is planning to raise about Rs 1,500 crore in the next seven months from bonds to meet capital requirement.
Trades between FIIs generated a volume of Rs 106 crore on the BSE Thursday-an increase of 296.11% from Rs 27 crore clocked on Wednesday. As many as five stocks witnessed trades of 16 lakh shares on Thursday.
The decline is Rs 21,186 crore from the fortnight ended July 3
Franklin Templeton Investments plans to hire two India stock analysts to increase its coverage of a market that has outperformed its developing nation peers this year.
Power firm JSW Energy today said it will open bids for its initial public offer (IPO) on December 7 to raise a total of Rs 2,700 crore to fund the expansion plans.
Agro-chemical and pharma company Astec LifeSciences today said that it has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band.
Many index funds charge less than equity-diversified funds. Select a fund that has a low tracking error.
The number of FIIs registering with Sebi this year touches six-year low.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 300.84 crore in futures and options segment on Monday.
The ongoing debt crisis in Dubai offered a great opportunity for India to become the global gold trading hub, said Vinod Hayagriv, chairman, All India Gem & Jewellery Trade Federation.
The inflow of foreign direct investment (FDI) in the Indian telecom sector has shot up to Rs 9,815 crore in the first half of the current financial year, the Lok Sabha was informed today.
The implementation of mobile number portability (MNP) is likely to be delayed by one to three months, with operators still not fully prepared to meet the deadline and with the government imposing new requirements with respect to security.
As the April 2010 deadline for the goods and services tax (GST) inches closer, the empowered group of state finance ministers plans to meet Finance Minister Pranab Mukherjee on January 7 next year to brief him about the progress on preparing a roadmap for GST and sort out the issues.
Business Standard / New Delhi December 17, 2009, 0:56 IST
The government today cleared a proposal of the US-based soft drinks major Pepsico Holdings to inject additional equity of $200 million (around Rs 930 crore) into its Indian arm within three years.
Bajaj Group promoted sugar major, Bajaj Hindusthan, has informed the Bombay Stock Exchange that it would raise long-term funds up to Rs 2,000 crore from the domestic or international market in one or more tranches.
Markets open strong; Tata Steel up 2%