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A better reach in rural markets has helped both the soaps and hair colours businesses.
FMCG firm Godrej Consumer Products is looking at several acquisition opportunities globally and has earmarked a budget of Rs 1,000 crore for the purpose.
The US firm has sold its non-food business worldwide, but its Indian JV retains the rights for Kiwi, Brylcreem and Ambi Pur
Seema Sindhu / October 31, 2009, 1:17 IST
Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods (FMCG) company, showed a consolidated net profit of Rs 93 crore for the quarter ended September, almost three times the Rs 34.7 crore figure posted in the corresponding quarter last financial year.
Godrej Consumer Products Ltd (GCPL) plans to strengthen its hair colour offerings through new launches and variants, in a bid to arrest its dipping market share in this lucrative sgment.
Investors today pulled down the stock market benchmark Sensex below 17,000 points-level, as they sold banking, oil and gas and state-run companies’ shares to make profits.
FMCG major Dabur has alleged that US-based firm Aveda, which manufactures and sells Ayurvedic cosmetic products, is infringing on the trademark of its skincare range.
Kalpana Pathak / New Delhi December 01, 2009, 1:30 IST
Accountancy regulator Institute of Chartered Accountants of India (ICAI) today agreed to withdraw disciplinary proceedings against the Delhi branch of the audit firm Price Waterhouse (PW) in the multi-crore Satyam scam.
The National Stock Exchange (NSE) has applied before authorities for registration of trademark for its ‘Currency Derivatives’ label.
Image spam has made an unwelcome comeback by contributing 16 per cent to all the spam messages recorded at the end of April 2009.
Internet search major Yahoo! today appointed Arun Tadanki as the managing director of its India operations.
Public sector lender Dena Bank today said it has reported a marginal growth in net profit at Rs 111.17 crore for the fourth quarter ended March 31, 2009.
Come January and all mobile phone users will have 11-digit mobile numbers instead of their 10-digit numbers currently.
Sunil Jain / New Delhi November 30, 2009, 0:43 IST
An express train carrying hundreds of passengers from Moscow to St Petersburg derailed, killing at least 22 people and injuring dozens of others, emergency officials said.
Arvind Singhal / New Delhi December 17, 2009, 0:02 IST
Oilmeal exports from India are falling due to higher prices and low quality compared to those from the US, Brazil and Argentina, which are offering better quality of soybean and rapeseed at lower prices. Exports are expected to come down by 15-20 lakh tonnes during 2009-10.
Two-wheeler manufacturer Bajaj Auto has set sight on securing the top spot in the world and a blueprint was being drawn, a top company official said today.
With the government deciding to set up 14 innovation universities, HRD Minister Kapil Sibal today expressed keeness to forge an alliance with leading US varsities in shaping the structure of the proposed institutes.
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.
Premji Invest, the $1 billion private equity fund floated by Wipro’s billionaire chairman Azim Premji, is understood to be close to investing around Rs 150 crore in Bangalore-based Manipal Group’s education arm through a structured deal.
Nilanjana S Roy / New Delhi December 8, 2009, 0:42 IST
Disappointed with factors like FSI and NA clearance, real estate developers in Gujarat find draft better than final township policy that has been announced by the state government. After much deliberations, the Gujarat government finally announced the much-awaited regulations for residential townships.
Owing to mounting losses, Vijay Mallya-owned Kingfisher Airlines has returned 19 leased aircraft to lessors in the past 10 months.
The economic recovery and a low base should help India Inc post robust profit growth for the December quarter.
PSU says it’s winning back contracts that went to Chinese firms
Jindal Power Ltd, a part of Jindal Steel and Power Ltd (JSPL), today said it plans to raise Rs 7,200 crore from its initial public offer (IPO).
Farm equipment and utility vehicle maker Mahindra & Mahindra today announced its foray into heavy commercial vehicle segment in partnership with Navistar Inc of the United States.
The government today said though it had amended the central motor vehicles rules in March 2001 for High Security Registration Plates (HSRP), it is primarily the responsibility of states to ensure its implementation.
Biofuels have a limited role in India due to land limitation and food security issues, Environment Minister Jairam Ramesh said today, a view which differs from the official line pushing for a 20 per cent blend of such fuel in gasoline and diesel by 2017.
Nearly two crore mobile phones without unique identification numbers will go out of service from midnight today, with government deadline to operators to block calls to such devices on security concerns expiring tonight.
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.
SESA GOA
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.
Auto component maker Rane Brake Lining today reported an over three-fold increase in its net profit at Rs 2.66 crore for the quarter ended June 30, 2009.
Car maker Fiat India is targeting sales of 50,000 units in the next financial year apart from planning a few variants of both its model — Grande Punto and Linea within the next two years.
She has been compared to Jhumpa Lahiri, and now author SELINA SEN has charmed European audiences as well. Sen’s debut novel, A Mirror Greens in Spring, has just been translated into French, Italian and Spanish and gathered significant international acclaim — two years after its release in India. In Italy, the pod-cast version of the story, about an immigrant Bengali family living in Delhi, is a hit, while, in France, a pocket-book version has just been formalised. Her European success has much to do with the readers’ curiosity about the subcontinent, she tells NEHA BHATT
The Comedy Store, a humour club in the UK, will launch its Mumbai edition later this year. Founder DON WARD talks to Neha Bhatt
IT financial services solutions vendor Oracle Financial Services Software today said its consolidated net profit rose by 75.99 per cent to Rs 185.78 crore for the first quarter ended June 30, 2009, over the same period last year.
Foreign fund house Sloane Robinson LLP has hiked its stake in Indiabulls Real Estate to 5.42 per cent through open market share acquisition.
A better product mix, easing of cost pressures and better procurement helped consumer electronics and lightings manufacturer, Bajaj Electricals register a consolidated net profit increase of 64 per cent per cent for the quarter ended June 30, 2009, to Rs 16.4 crore, compared with Rs 10 crore in the corresponding quarter of the previous financial year.
Retail chain major Shoppers Stop today said it plans to raise Rs 250 crore to increase stake in its hypermarket chain, Hypercity to 51 per cent, a top company official said today.
Fortis Healthcare today said it is looking at adding three more hospitals to its chain with a total investment of nearly Rs 300 crore post Wockhardt acquisition.
I have invested in an SIP of HDFC Top 200 since 2005. Do I need to stop and start afresh , so that it does not attract entry load. Kindly advise.
A K Bhattacharya / New Delhi November 4, 2009, 0:10 IST
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.
Yields on 10-year government securities are expected to touch 8 per cent, thanks to expectations of an end to easy-money policy, prospects of large government borrowings and rising inflation.
State-run Oil and Natural Gas Corp (ONGC) has sought levy of windfall tax on crude oil price of over $60 per barrel to pay for fuel subsidies.
Matrix Laboratories Ltd, a subsidiary of the US-based generics drugmaker, Mylan lnc, has assigned its right to purchase 1 per cent equity in Astrix Laboratories Ltd to Mylan Luxembourg, another subsidiary of Mylan.
Hero Group subsidiary Hero Electric will soon set up a joint venture with Canada-based battery maker Electrovaya for manufacturing lithium ion batteries for electric vehicles.
India was the UAE"s top trading partner last year with non-oil trade totalling $32.11 billion, the data by the UAE Ministry of Foreign Affairs has showed.
Reliance Industries (RIL) today said its exploration arm has entered into an agreement with Columbian state-controlled oil company Ecopetrol SA for two deep water blocks.
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 Sensex continues to display firm movement after a positive start this morning. The index so far has touched a highh of 17,055, and is now up 169 points 17,018.
A breakout is more probable, since the market rarely range-trades inside 150-200 points for extended periods.
This refers to “Energy savings can wipe out shortages” (January 8). An integrated approach for energy savings is the need of the hour. Despite efforts by the various organisations like Bureau of Energy Efficiency (BEA) and Petroleum Conservation & Research Association, nothing substantial has been achieved.
The markets were propelled this week by good economic data, the central government"s reforms agenda and strong global markets. The Sensex ended higher by 690.55 points or 4.27% at 16,848.83 and the Nifty closed at 4,998.95, up 202.80 points or 4.23%.
- Many poverties - How many mouths to feed? - High inflation numbers derail Dalal Street - Sunil Jain: And now, quotas for Muslims">Sunil Jain: And now, quotas for Muslims - New rule raises number of poor by 100 million - "Over 27% were living below poverty line in 04-05"
Although the West Bengal government is reluctant to admit that the political turmoil in the Hills has affected the tourism industry in Darjeeling and the surrounding areas, it is attempting to aggressively market other destinations within the state to ensure a steady inflow of tourists.
The Centre would sign an agreement with the World Bank for about $3 billion for projects to cleanse the Ganga river as envisaged under the recently constituted National Ganga River Basin Authority.
Autism awareness is growing, as the increasing number of cases shows
Public sector lender UCO Bank today said it will convene a meeting of its shareholders to decide whether it should come out with a follow-on public offer (FPO) or placement of shares to qualified institutional buyers to raise funds.
Anil Ambani-led Reliance Natural Resources (RNRL) today asserted in the Supreme Court that family MoU of 2005 was a "sacrosanct" document for resolving the gas row with Mukesh Ambani group Reliance Industries (RIL) and accused it of scuttling efforts to arrive at a bankable agreement for the supply of gas from KG Basin.
Chinese firm Meijin leads the bidding war with $176-mn offer.
Tata Group Chief Ratan Tata today termed the buyout of Jaguar and Land Rover (JLR) as a "terrific decision" and hoped to bring back glory for the luxury brands.
Air India (AI) is in the process of having a seven-member international advisory board, with former top officials of global carriers, to turn the organisation around.
“Reverse swing at Kotla”, Dec 29, was a wonderfully argued piece. At a time when everyone is criticising the Delhi and Districts Cricket Association (DDCA) for producing an unplayable pitch, you have put things in perspective.
BJP today attacked government"s decision to abolish profit sharing clause in the Sugarcane Control Order saying farmers would not be able to get better price even though mills are currently earning huge margins.
MBL Infrastructures touched a high of Rs 218 and a low of Rs 190. It finally ended near its high at Rs 206 - with 14% gain over its issue price of Rs 180.
Steel Authority of India Limited (SAIL) chairman Sushil Roongta was in Beijing in October for induction in the hallowed committee of the World Steel Association now chaired by Lakshmi Mittal. Being an astute business diplomat, he made use of the visit to find out what China was going to do with its rapid steel capacity build up and production.
For the December 2009 quarter, SAIL saw net sales at Rs 9,880 crore up 11 per cent year-on-year, in line with market expectations, even as seasonal impact saw sales dip 2 per cent sequentially. The company’s steel sales was at 2.9 million tonnes (mt) in the recently concluded quarter against 3 mt in the September 2009 quarter and 2.4 mt in December 2008 quarter.
Ranbir Kapoor is raking in Rs 5 cr for each film.
The Cabinet is expected to clear tomorrow the proposal to grant the coveted "Maharatna status" to public sector blue-chips like ONGC, SAIL, BSNL, NTPC and CIL giving them increased autonomy.
Insurance major Aviva Plc returned to the black with profits of 747 million pounds for the first six months of this year on the back of strong contribution from its general insurance business, among others.
Telecom Regulatory Authority of India (Trai) has sought financial and operational details of broadcasters, cable operators and multi system operators (MSOs), which it requires for preparing a consultation paper on the issue of tariff for cable TV services in non-CAS areas.
Two blocks each to go under hammer in Rajasthan and Northeast.
The Cabinet is likely to consider tomorrow granting the coveted "Maharatna" status to select profit-making Central Public Sector Enterprises (CPSEs), including ONGC, SAIL, BSNL, NTPC and CIL, that will offer them greater functional autonomy.
Business Standard / New Delhi December 23, 2009, 0:11 IST
Credit Suisse Group AG, Switzerland’s biggest bank by market value, named Boon Sim global head of mergers and acquisitions, a role previously held by Marc Granetz.
According to him, GSS dominates the domestic market with over 70 per cent share and has a footprint in 40 countries including the US and the European countries.
After being unsuccessful with South African telecom MTN, Bharti Airtel is eyeing Bangladesh to expand its footprint.
Telecom giant Bharti Airtel is set to buy the majority stake in Bangladesh"s fourth-largest mobile phone operator Warid from its Abu Dhabi-based owners.
IT security solutions major Symantec today said it has partnered with technology major Hewlett Packard (HP) for providing online backup to HP"s consumer desktop and notebook PCs globally.
The upswing in Baltic Dry Index numbers recently to a 14 month high closing at 4661 on 19 November 09, raised hopes that a revival for the shipping sector is afoot sending shipping stocks zooming. Freight and tanker rates dropped sharply in July - September 09 quarter, but gained strength in October 09 which has sustained through November 09 as well. They hit 10 year lows in the December 08.
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.
Business Standard / New Delhi December 11, 2009, 0:03 IST
The market could test 5,300 going into the December settlement
After much dilly-dallying, the ‘Passport Seva Project’, which aims at expediting the process of issuance of passport by digitising the passport services, would be rolled out by early 2010.
Indian Premier League (IPL), the annual Twenty20 cricket championship aired on SET Max, will make a homecoming of sorts this year. In 2009, the second edition of IPL was played in South Africa because it coincided with the General Elections and the country’s security apparatus was stretched. This time it’s back to the country of its origin.
State-run Bharat Sanchar Nigam Ltd (BSNL) today announced the launch of per-second billing plan, joining a host of mobile phone operators who have already introduced such tariff scheme.
Production at mobile handset company Nokia’s factory at Sriperumbudur, near Chennai, was stopped after around 2,000 workers went on a flash strike Wednesday evening. Representatives of the Nokia India Employees Progressive Union (NIEPU) claimed the company had suspended 62 employees without giving any reason.
Subir Roy / New Delhi December 9, 2009, 0:20 IST
The stock gained 4.7 per cent to close at Rs 83.05 after the company’s German unit REpower got an order to deliver 70 wind turbines to US-based enXco.
Mahindra Satyam has topped the combined value chart with a turnover of Rs 1,076 crore. It is followed by Suzlon( Rs 954 crore), Reliance (Rs 886 crore), ICICI Bank (Rs 757 crore) and DLF (Rs 676 crore).
While Goldman Sachs Group Inc scrapped its holiday party for a second straight year and some JPMorgan Chase & Co bankers had their yuletide gathering in a cafeteria, staffers of Bear Stearns Cos reunited at a velvet- roped bar that sells bottles of Cristal champagne for $450.
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.
Body blow for real estate developers as state switches off tap to high-rise projects
Global multinational drug companies’ need to outsource manufacturing to low-cost destinations like India has turned out to be a boon for leading drug companies in India such as Ranbaxy, Cipla, Dr Reddy’s Laboratories and Aurobindo.
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."
Oil prices were back above $83 in Asian trade today as a cold snap across the northern hemisphere powered higher demand for heating fuel, analysts said.
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.
The southern cement major India Cements is going to considerably increase its recently acquired holding in Indo Zinc in Rajasthan. Indo Zinc holds a limestone mining lease in Rajasthan — an indispensable input for manufacturing cement.
The International Monetary Fund (IMF) has reached an agreement with Sri Lanka to provide the island nation with about $2.5 billion, to help it in its reconstruction efforts.
India"s gems and jewellery exports lost sheen for the eighth month in a row with exports dropping by a sharp 24 per cent to $1.5 billion in May 2009 over the year ago month mainly on account of slump in demand in its major markets like the US and Europe.
The global financial crisis can be turned into a great opportunity for growth in India and China if the two Asian giants join hands to collaborate in five key sectors such as gems and jewellery, says a Ficci-KPMG report.
Businesswoman and socialite Sheetal Mafatlal was today granted bail on certain conditions by a local court in a case of alleged evasion of duty on jewellery worth Rs 53 lakhs carried by her on return from London.
The Indian Air Force (IAF) today said it had sought permission from the government to fire at Maoists if they attacked helicopters.
In the wake of the recent controversies over Chinese incursions, India and China have reaffirmed the need to maintain peace and tranquility on border pending resolution of the “complex” issue.
The Centre will initiate talks on Telangana after situation calms down in Andhra Pradesh as any move by it now will "ignite things further", Minister of state for Minority Affairs Salman Khurshid said today.
The Indian video games industry - minuscule compared to the evolved western markets - is poised to grow 49 per cent to touch $830 million by 2012, when the country"s overall animation market will scale $1 billion, says a report of software industry body Nasscom.
With the growing swine flu scare across the city, a number of IT-BPO service providers here are seeing up to 20 per cent drop in attendance.
Nasscom (National Association of Software and Services Companies) has identified 50 cities for the IT and ITES sector, by classifying them as leaders, challengers, followers and aspirants.
Bajaj Auto, whose name has been synonymous with scooters in India for decades, will stop producing the vehicle in the next three months. The company sells 300 automatic scooters every month under the brand name, Kristal.
Companies plan to benefit from the high inflow of foreign funds.
Karen Anand, adding booze to dishes, whips up deliciously naughty delights in the kitchen.
Finance Secretary Ashok Chawla today said the Reserve Bank of India"s (RBI) review policy has taken a balanced view of the current situation and the CRR hike would not have any affect either on interest rates or the industrial recovery.
Keisuke Uno proves that language is no barrier when it comes to cooking.
Ruling out any bailout package for Maytas Properties, the government today assured the NRIs of working a solution to non-delivery of flats sold by the firm promoted by kins of disgraced Satyam founder B Ramalinga Raju.
India today said it supports a world free of nuclear weapons, but maintained that any international accord to achieve this goal cannot be discriminatory. “The international order cannot be discriminatory. States must fulfil the obligations they have undertaken,” External Affairs Minister S M Krishna said at the opening session of the United Nations General Assembly here.
India has said that there is now better understanding of its position on climate change in the US, which recognises that emission cuts is not the only way for countries to reflect their domestic obligations globally.
If after 25 years of the Bhopal tragedy, just half the relief funds have been distributed to those affected, this is a matter of national shame. As “Night without end”, December 4, points out, this was after the compensation asked for was also very low — while the number of dead is 20,000 and those affected is 570,000, the compensation was fixed on the assumption that the figures were 3,000 and 105,000, respectively.
Mortgage major Housing Development Finance Corp (HDFC) aimed to grow loan approvals as well as disbursements by at least 20 per cent in the current financial year, Joint Managing Director Renu Sud Karnad said today. HDFC has already seen a rise in new home loan applications, she said.
Realty stocks crashed on the Bombay Stock Exchange (BSE) today on fears of a debt crisis in Dubai raised by Middle East"s largest property firm Dubai World asking creditors if it could defer repaying $60 billion in loan until may next year.
Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10.
Anil Ambani Group firm Reliance Capital today reported 52% decline in its consolidated net profit at Rs 63 crore for the third quarter ended December 31, 2009.
Decision likely before March 2010, price will determine winner.
Windows 7, Adobe, Symantec software stuck at customs over excise duty
A ncient Indians discovered the Zero, but modern, cyber-savvy Indians everywhere are discovering the Zed. That’s Rajan Zed, a Nevada-based Indo-American statesman who modestly refers to himself as an “acclaimed Hindu spokesperson” in an endless series of press releases that are slowing down the Internet, or at least my home connection.
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).
Bijoy Kumar Y / Mumbai September 15, 2009, 0:08 IST
Global media giant News Corporation has reported a 11 per cent growth in first quarter net income at $571 million, helped by gains in cable network programming businesses and filmed entertainment segment.
The Bombay Stock Exchange today said Torrent Power will replace Reliance Petroleum on the BSE-100 index with effect from September 25.
Ahead of the Budget, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the country should further liberalise its financial sector to play a bigger role on the global landscape.
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.
Discussion paper sets out broad plan, no clarity on deadline.
Last fortnight, Vancouver, British Columbia hosted the annual International Fiscal Association (IFA) Congress with over 1000 international tax experts representing large MNCs, international tax experts, academicians and tax administrators of several jurisdictions. Expectedly, the buzz centered on India’s Direct taxes code. Most participants expressed anxiety on DTC provisions impacting cross border investments, particularly on General anti-avoidance rules (GAAR) and were perplexed with a position that the Indian domestic law can override a double tax treaty (DTT).
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 fate of candidates aspiring to grab a seat on the board of Kheda District Co-operative Milk Producers Union Ltd (KDCMPUL), popularly known as Amul Dairy, was today sealed. The polls saw more than 99 per cent of voting while the results would be declared on Friday.
The train running between Baramulla to Anantnag in Kashmir is all set to extend up to Qazigund next month.
As governments debate ways to reduce carbon emission levels at the climate change summit in Copenhagen, some fast moving consumer goods (FMCG) companies are doing their bit to rein in carbon footprints.
Food company Britannia Industries has reported an increase of 11 per cent in its net profit at Rs 59.07 crore for the second quarter ended September 30, 2009, compared with the corresponding quarter last year, on the back of recent launches and its focus on the Rs 5 price point.
India’s largest manufacturer of biscuits and confectionery, Parle Products is eyeing 15 per cent growth in turnover from Uttar Pradesh in the current fiscal.
Anil Dhirubhai Ambani Group (ADAG) firm Reliance Natural Resources (RNRL) today welcomed the government"s move to protect NTPC"s interest on sourcing gas from Reliance Industries, saying effective legal steps will defeat the Mukesh Ambani firm"s "malafide attempts to dishonour" its commitment.
Outlining its stand on the negotiations for finalising the Doha Round of the World Trade Organization (WTO) talks, the government today said any new approach proposed for discussions would not be acceptable to India.
Telecom solutions and services provider Aricent today said its has earned an all-time high ever revenue of $460 million in FY09 and is looking at listing on Indian bourses in the next three years.
If I Could Tell You is a rather modest title for a book that makes no pretence of doing anything else. You could have your own point of view on whether something so essentially personal, with no real context or history, should stretch to 200 pages between two hard covers, but there’s no doubting the sincerity of intent. “Me at my most truthful and unadorned,” the unnamed narrator says, as he weaves a lyrical tale of his life in a series of letters to his daughter.
MTNL will be one of the few big telecom companies in the world to allow competitors to offer their brand on its network.
Poor quality mobile services of state-run BSNL today came under sharp attack in the Lok Sabha, even as the government said it was the only operator which has taken maximum load for providing connectivity to rural areas.
Contribute a daily trading turnover of around 10 per cent.
Only the steady tide of readers overflowing into the aisles of the Gulmohar Hall indicated that this was not just another book discussion at the India Habitat Centre in Delhi. Vilayanur Ramachandran’s lecture drew students, fellow neurologists and inquiring readers in such numbers that we could easily have filled the nearby Stein Auditorium.
After venturing into the private equity (PE) space earlier through a joint venture, financial services provider Religare is now planning to go solo.
Private Equity (PE) investments into South India have dropped 64 per cent between April and September, 2009, to $626 million from $1752 million, during the same period last year. The number of deals fell 48 per cent. Among the four states in South, Andhra Pradesh had attracted the highest investment, in terms of value.
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.
Tata Motors ended at Rs 827, higher by Rs 34 or 4.3%, on the BSE.
Prices of sugar in Uttarakhand have reached an all-time high of Rs 42-44 per kg in the retail market, thanks largely to sugarcane shortfall.
- FIIs infuse Rs 24,800 cr in Dec quarter - FIIs net buy Rs 516cr, DIIs net sell Rs 472cr - FIIs net sellers Rs 278cr in F&O on Wednesday - FIIs net buyers Rs 695cr in F&O on Tuesday - FIIs net sellers Rs 900cr in F&O on Thursday - Positive returns on the cards, but no sharp surge
The consumption of technical textiles, used in the healthcare industry, in India is growing and the industry body Ficci wants the government to provide capital subsidy to the domestic companies to meet the demand.
Prison inmates at Sabarmati Central Jail in Ahmedabad are all set to receive medical treatment through satellite connectivity. Healthcare group Apollo Hospitals will launch its "telemedicine" facility at the jail, to provide telemedicine consultations to its inmates. The Indian Space Research Organisation (ISRO) will provide the technology for the treatment, an official from the hospital said.
Swiss drug major Novartis has approached the Supreme Court against a decision of the country’s apex patent complaint redressal forum, the Intellectual Property Appellate Board (IPAB), to deny patent protection for its cancer medicine, Glivec. The court is expected to take up the case for hearing on August 31.
The Supreme Court today decided to commence final hearing on the high-profile gas dispute between the group firms of Mukesh Ambani and his younger brother Anil from October 20.
Japanese drug maker Daiichi Sankyo, the majority shareholder in Indian pharma major Ranbaxy Laboratories, plans to raise 100 billion yen (about $1.04 billion) through public issue of bonds.
Indian drug firm Sun Pharma may have to shell out up to Rs 1,000 crore this fiscal for acquiring Israel-based Taro Pharmaceuticals.
Mexico will push for a binding international agreement to cut greenhouse gas emissions when it hosts the next climate change summit in Mexico City in the coming 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.
Indian drug firm Sun Pharma may have to shell out up to Rs 1,000 crore for acquiring the Israel-based Taro Pharma-ceuticals. “If we are able to get all the shares of Taro pharma-ceuticals, including promo-ters’, then the total cost would be up to Rs 1,000 crore,” the firm said.
The mad rush to set up special economic zones that house export-oriented manufacturing units three years ago turned cold in 2009, as demand for commercial space waned due to the global meltdown.
Businessstandard / New Delhi December 27, 2009, 0:14 IST
The Centre has refused to extend the in-principle approvals to as many as 11 SEZ projects, including the Mukesh Ambani-promoted Reliance Haryana SEZ, Posco India and Indiabulls Infrastructure, stating that the rules do not allow giving them more time for implementation.
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.
Chennai-based electric scooter manufacturer Kabirdass Motor Company is planning to raise Rs 60 crore through an initial public offering to support its expansion plan and for setting up a manufacturing facility near here.
Reliance Life is in talks with Chinese insurance giant China Life for a pre-initial public offer (IPO) placement. The Anil Dhirubhai Ambani group company is also in discussions with a private equity player for a total placement of 15 per cent stake.
The Orissa Power Transmission Corporation Limited (OPTCL) will execute projects worth Rs 2,000 crore for improvement of the power infrastructure in the state on a priority basis.
Anil Dhirubhai Ambani Group"s gaming and entertainment arm, Zapak, expects to break-even this fiscal and plans to scale-up its gaming centres to 300 by June next, a top company official said.
Agricultural growth in the third quarter (October-December) of the current financial year might be negative, Finance Minister Pranab Mukherjee said today.
Showing the rift in the Hamara Bajaj-famed two wheeler giant Bajaj Auto, group Chairman Rahul Bajaj today differed with his son and Managing Director Rajiv Bajaj"s decision to exit production of scooters saying he was not only not convinced but was "hurt" by it.
FIIs back in the game, buy shares worth Rs 769 crore.
The markets continue to trade in the negative on the back of weakness in realty, metals and IT pack.
The country"s largest coal miner Coal India (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
In order to encourage intra-state power trading business, state power sector regulator Gujarat State Electricity Regulatory Commission (GERC) has proposed an intra-state electricity trading margin of not more than 4 paise per unit.
India’s largest soap maker has implemented technology that resulted in significant carbon dioxide reduction in its manufacturing process.
The revival of the initial public offer (IPO) market has prompted brokerages to re-start margin funding, a process by which they finance high net worth clients to subscribe to new issues.